Guar ended nearly 4 percent down on ample stocks, subdued overseas orders for guar gum and weak local demand. In NCDEX-accredited warehouses stock of guar rose by 661 tonnes to 31,701 tonnes as on Jan. 18. In the Jodhpur spot market, guar price dropped 79 rupees to 2,456 rupees per 100 kg at Jodhpur.

Guar yesterday we have seen that market has moved -3.98%. Market has opened at 2559 & made a low of 2462 versus the day high of 2572. The total volume for the day was at 439340 lots and the open interest was at 232670. Now support for the guar is seen at 2425 and below could see a test of 2389. Resistance is now likely to be seen at 2535, a move above could see prices testing 2609.

Trading Ideas:

Guar trading range is 2410-2510.

Guar ended nearly 4% down on ample stocks and subdued overseas orders

Guar is taking support at 2446 and resistance at 2488 level.

In Bikaner prices fell by over 77 rupees and settled at 2422 rupees per 100 kg.

Demat stock of guar at NCDEX-monitored warehouses rose by 661 tonnes to 31,701 tonnes

LOOK TO TAKE SUPPORT AT 2440 WILL WAIT TO TAKE POSITION