Chana ended up on bargain-buying after falling for the last two days. Rising arrivals and ample carry forward stocks are seen weighing on sentiment.

In Delhi spot market, price slipped 8 rupees to 2,142 rupees per 100 kg. Chana gained Rs 12 and settled at Rs 2197 per quintal.

The volume was noted at 76860 lots. Support for chana is at 2180 below that could see a test of 2164. Resistance is now seen at 2211 above that could see a resistance of 2226.

Trading Ideas:

Chana trading range is 2164-2226.
Chana ended up on bargain-buying after falling for the last two days
Chana is getting support at 2180 and resistance is at 2211 level
NCDEX accredited warehouses chana stocks rose by 231 tonnes to 26375 tonnes.
In the Delhi spot market price slipped 8 rupees to 2,142 rupees per 100 kg
SELL CHANA APR AT 2220 SL 2244 TGT 2182-2160-2136.NCDEX

Courtesy: Kedia Commodities

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