Guar edged lower in volatile trade as higher supplies in the spot market outweighed hopes gum exports will rise in coming months. A few traders offloaded stocks in spot market in the evening to benefit from higher prices. In the Bikaner spot market, guar seed ended up 2 rupees at 2,408 rupees per 100 kg, correcting from 2,425 rupees in the afternoon. Guar yesterday we have seen that market has moved -0.59%. Market has opened at 2381 & made a low of 2376 versus the day high of 2424. The total volume for the day was at 270470 lots and the open interest was at 141870.Now support for the guar is seen at 2362 and below could see a test of 2345. Resistance is now likely to be seen at 2410, a move above could see prices testing 2441.

Trading Ideas:

Guar trading range is 2345-2441.

Guar edged lower as higher supplies in spot market outweighed hopes gum exports

Guar is having support at 2362 and resistance at 2396 level.

NCDEX accredited warehouses guar stocks fell by 140 tonnes to 29613 tonnes.

BUY GUAR MAR @ 2365-2375 SL 2346 TGT 2390-2410-2434.NCDEX

In Jodhpur price rose by 8 rupees to 2,424 rupees per 100 kg