Chana on NCDEX settled down by -0.07% at 5527 due to impositions of higher margins and corrective measures taken by various state to curb the rising prices of pulses. Import of pulses rose 26 per cent to 5.79 million tonnes (mt) last financial year to meet rising domestic demand, Parliament was informed. India had imported 4.58 mt during 2014-15. There has been a gap between the demand and supply of pulses in the country during the last year and the current year as the domestic demand for pulses is higher than the domestic production. 

In Delhi spot market, chana dropped by -25.75 rupee to end at 5584.25 rupee per 100 kgs.Technically market is under long liquidation as market has witnessed drop in open interest by -5.88% to settled at 16640 while prices down -4 rupee, now Chana is getting support at 5473 and below same could see a test of 5419 level, And resistance is now likely to be seen at 5568, a move above could see prices testing 5609. Contact this no:- 9827808090

                                Trading Ideas

• Chana trading range for the day is 5419-5609.

• NCDEX accredited warehouses chana stocks gained by 1 tonnes to 3358 tonnes.

• In Delhi spot market, chana dropped by -25.75 rupee to end at 5584.25 rupee per 100 kgs.