Guar ended lower on profit-taking after rising continuously for the last two sessions. Bearish cues from the spot market, where demand was poor and mounting stocks also weighed on the sentiment.

In the Jodhpur spot market in Rajasthan, guar dropped 19 rupees to end at 2,282 rupees per 100 kg. Guar yesterday we have seen that market has moved -1.31%.

Market has opened at 2300 & made a low of 2263 versus the day high of 2307. The total volume for the day was at 242740 lots and the open interest was at 194150.

Now support for the guar is seen at 2251 and below could see a test of 2235. Resistance is now likely to be seen at 2295, a move above could see prices testing 2323.

Trading Ideas:

Guar trading range is 2235-2323.
Guar ended lower on profit-taking after rising for the last two sessions
Support for the guar is at 2251 and resistance is at 2295.
NCDEX accredited warehouses guar stocks fell by 585 tonnes to 27891 tonnes.
In Jodhpur guar prices dropped 19 rupees to end at 2,282 rupees per 100 kg
BUY GUAR APR 2240-2250 SL 2218 TGT 2262-2275-2290.NCDEX

Courtesy: Kedia Commodities

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