Chana ended steady to down on slight profit taking Saturday. Chana during last couple of sessions had traded bullish on revived buying interest. But market sentiment is largely reported to be bearish on arrival pressure at major trading centres of Madhya Pradesh and Maharashtra and weak demand.

In Delhi spot market, price gained by 16 rupees to 2,175 rupees per 100 kg. Chana dropped Rs 1 and settled at Rs 2224 per quintal. The volume was noted at 51350 lots. Support for chana is at 2213 below that could see a test of 2202. Resistance is now seen at 2237 above that could see a resistance of 2250.

Trading Ideas:

Chana trading range is -1446-2892.
Chana ended steady to down on slight profit taking Saturday.
Chana is getting support at 2213 and resistance is at 2237 level
NCDEX accredited warehouses chana stocks fell by 12 tonnes to 26547 tonnes.
In the Delhi spot market price rose 16 rupees to 2,178 rupees per 100 kg

BUY CHANA APR ABV 2234 SL 2212 TGT 2246-2265-2278.NCDEX (EVE WEAK)

Courtesy: Kedia Commodities

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