Guar ended lower tracking a sluggish spot market and ample guar gum stocks. In the Jodhpur spot market, guar dropped by 42 rupees to 2,347 rupees per 100 kg. In the coming days, as the arrival of chana and rapeseed will start in the markets of Rajasthan, traders would start holding these commodities due to lower prices and would offload guar. Guar yesterday we have seen that market has moved -1.75%. Market has opened at 2348 & made a low of 2282 versus the day high of 2356. The total volume for the day was at 135710 lots and the open interest was at 119660.Now support for the guar is seen at 2272 and below could see a test of 2240. Resistance is now likely to be seen at 2346, a move above could see prices testing 2388.

Trading Ideas:

Guar trading range is 2240-2388.

Guar ended lower tracking a sluggish spot market and ample guar gum stocks

Guar is having support at 2272 and resistance at 2324 level.

NCDEX accredited warehouses guar stocks rose by 10 tonnes to 29752 tonnes.

In Jodhpur dropped by 42 rupees to 2,347 rupees per 100 kg

SELL GUAR MAR BELOW 2300 SL 2322 TGT 2286-2270-2256.NCDEX