Chana, the key driver of other pulses continued to trade in a tight range of 4,150-4,350 rupees per 100 kg over the last few weeks due to absence of clear cues. Subdued demand from dal millers and uncertainty over sales by NAFED continue to be a sticky factor despite expectations of revival in demand owing to series of festivals.

In the coming weeks, prices are likely to see correction as NAFED may liquidate its stocks. Chana September on NCDEX may witness some correction and touch a low of 4,165-4,100 rupees. One can sell below 4,220 maintaining a stop loss of 4,260 rupees. Currently Chana September futures are at 4,288 rupees.