Chana ended down on rising arrivals in the physical market and hopes of higher output on expanded area.

After Maharashtra, arrivals from Madhya Pradesh have started. Stockists are not showing any deep interest in initiating the long position. In Delhi spot market, prices gained 8 rupees to 2,168 rupees per 100 kg.

Chana dropped Rs 5 and settled at Rs 2138 per quintal. The volume was noted at 30790 lots. Support for chana is at 2125 below that could see a test of 2112. Resistance is now seen at 2153 above that could see a resistance of 2168.

Trading Ideas:

Chana trading range is 2112-2168.

Chana ended down on rising arrivals in the physical market

Chana is getting support at 2125 and resistance is at 2153 level

NCDEX accredited warehouses chana stocks rose by 362 tonnes to 26642 tonnes.

In the Delhi spot market price gained 8 rupees to 2,168 rupees per 100 kg

BUY CHANA MAR AT 2115-2125 SL 2098 TGT 2138-2152-2170.NCDEX

Courtesy: Kedia Commodities

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