April Guar Seed future prices traded sideways to lower by continuing the previous trend and after making a low of 2222 it settled at 2240 levels.

The momentum indicator RSI (14) daily is treading at 0.31 levels and expected to move higher.

The supports are at 2220 then 2200 levels. Conversely, on the higher side resistances are at 2260 then 2290 levels.

Market is likely to see a mild higher correction before resuming its downtrend.

NCDEX Guar seed: Buy April above 2245 TP 2270 SL 2218

Courtesy: Karvy Commtrade Ltd.

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