Guar ended down rebounding slightly from an intra-day low, on weak domestic off-take and on lack of fresh triggers from the spot market. Open interest has been continuously declining in guar along with prices indicating liquidation of long position. Guar yesterday we have seen that market has moved -1.67%.

Market has opened at 2729 & made a low of 2675 versus the day high of 2738. The total volume for the day was at 293000 lots and the open interest was at 209180. Now support for the guar is seen at 2676 and below could see a test of 2644. Resistance is now likely to be seen at 2739, a move above could see prices testing 2770.

Trading Ideas:

GUAR TRADING RANGE IS 2650-2750.

GUAR YESTERDAY ENDED DOWN ON LACK OF FRESH BUYING

SUPPORT FOR GUAR IS AT 2676 AND RESIST IS AT 2739.

IN BIKANER PRICES FELL OVER 27 RUPEES AND ENDED AT 2638.35 RUPEES PER 100 KG.

BUY GUAR JAN ABV 2720 SL 2696 TGT 2738-2752-2780. NCDEX