Guar ended weak for a third straight session following weakness in spot market. In the Jodhpur spot market, guar seed price dipped 56 rupees to end at 2,280 rupees per 100 kg. A better monsoon forecast for this year by the International Research Institute (IRI) for climate and society at Columbia University is weighing on sentiment as guar, a rain-fed crop, may benefit. Guar yesterday we have seen that market has moved -2.48%. Market has opened at 2302 & made a low of 2226 versus the day high of 2316. The total volume for the day was at 418430 lots and the open interest was at 194420.Now support for the guar is seen at 2205 and below could see a test of 2171. Resistance is now likely to be seen at 2295, a move above could see prices testing 2351.

Trading Ideas:

Guar trading range is -1544-3088.

Guar ended weak for a third straight session due to weakness in spot market

A better monsoon forecast for this year by the International Research Institute is weighing on sentiment

NCDEX accredited warehouses guar stocks rose by 30 tonnes at 32517 tonnes.

SELL GUAR MAR @ 2250-2260 SL 2292 TGT 2232-2216-2202.NCDEX