Guar ended slightly lower on weak domestic and overseas demand and concerns prices may fall further, but thin arrivals and estimates of lower output limited the downside. Open interest has declined from 1,74,290 tonnes on Dec. 28 to 1,37,830 tonnes on Jan. 5 in January. In the Jodhpur spot market, guar price slipped 19 rupees to 2,653 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.33%. Market has opened at 2690 & made a low of 2671 versus the day high of 2709. The total volume for the day was at 118850 lots and the open interest was at 137830.Now support for the guar is seen at 2674 and below could see a test of 2650. Resistance is now likely to be seen at 2712, a move above could see prices testing 2730.

Trading Ideas:

Guar trading range is 2650-2740.

Guar ended slightly lower on weak domestic and overseas demand

Open interest has declined from 1,74,290 tonnes on Dec. 28 to 1,37,830 tonnes on Jan. 5

In Bikaner prices fell by over 13 rupees and settled at 2654.40 rupees per 100 kg.

SELL GUAR JAN @ 2710-2720 SL 2748 TGT 2696-2675-2656. NCDEX