Futures of chana on NCDEX hit the lower limit of the day in anticipation of a rise in the supplies in the local market after the government imposed the stock limit on pulses effective July 2, 2021. The government had imposed the stock limit when most pulses were trading near the MSP or below it and a period of seasonal lull. The decision has been probably undertaken as it fears that the south-west monsoon rains could play a spoilsport or its third advance estimates have been overstated which could in times to come inflate pulses prices substantially.

NCDEX chana August futures have strong support at 4750-4630  and face resistance at 5095-5170 (CMP: 4919)