Chana settled at Rs 2272 per quintal as spot demand offset mounting stocks and hope of good sowing in the up-coming season.

Good rains so far have brightened prospects of higher sowing of rabi crops in the country due to sufficient moisture in the soil.

Spot markets are witnessing a steady trend with average demand from dal millers. In Delhi spot market, chana jump up by 14.75 rupee to end at 2262.25 rupee per 100 kgs.

The volume was noted at 63420 lots. Support for chana is at 2262 below that could see a test of 2252. Resistance is now seen at 2283 above that could see a resistance of 2294.

Trading Ideas:

Chana trading range is 2252-2294.
Chana ended flat as spot demand offset mounting stocks and hope of good sowing
Support for the chana is seen at 2262 and resistance is at 2283.
NCDEX accredited warehouses chana stocks rose 780 tonnes to 43223 tonnes.
In Delhi spot market, chana jump up by 14.75 rupee to end at 2262.25 rupee per 100 kgs.

Courtesy: Kedia Commodities

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