Guar hit the 3 percent lower limit as profit-taking and bearish cues from the spot market weighed on sentiment. Selling pressure is seen in the market because this year guar made an all-time high. Most of the investors are selling futures anticipating demand may come down at these higher levels.

Guar yesterday we have seen that market has moved -3.11%. Market has opened at 2733 & made a low of 2627 versus the day high of 2739. The total volume for the day was at 90350 lots and the open interest was at 57530. Now support for the guar is seen at 2602 and below could see a test of 2559. Resistance is now likely to be seen at 2714, a move above could see prices testing
2783.

Trading Ideas:

GUAR TRADING RANGE IS 2590-2700.

GUAR HIT THE 3 PERCENT LOWER LIMIT AS PER EXPECTATION ON PROFIT-TAKING

BUY GUAR DEC ON DIP @ 2600-2620 SL 2585 TGT 2646-2672-2690.NCDEX

NOW SUPPORT FOR GUAR IS AT 2624 AND RESIST IS AT 2662.

IN BIKANER PRICES FELL OVER 83 RUPEES AND ENDED AT 2593.90 RUPEES PER 100 KG.