Guar shed over 2 percent as buyers choose to stay away anticipating a further correction in prices amid weak demand and on huge stocks. In the Jodhpur spot market, guar dropped 23 rupees to end at 2,346 rupees per 100 kg. In NCDEX-accredited warehouses stocks of guar seed slipped by 80 tonnes to 29,702 tonnes as on March 9, data on the exchange website showed. Guar yesterday we have seen that market has moved -2.28%. Market has opened at 2322 & made a low of 2267 versus the day high of 2327. The total volume for the day was at 83860 lots and the open interest was at 84110.Now support for the guar is seen at 2250 and below could see a test of 2229. Resistance is now likely to be seen at 2310, a move above could see prices testing 2349.

Trading Ideas:

Guar trading range is 2229-2349.

Guar ended down as buyers anticipated further correction due to weak demand

Support for the gaur is at 2250 and resistance is at 2310.

NCDEX accredited warehouses guar stocks fell by 80 tonnes to 29702 tonnes.

In Jodhpur fell by 23 rupees to 2,346 rupees per 100 kg

BUY GUAR MAR @ 2290 SL 2305 TGT 2278-2260-2248.NCDEX (EVE AGAIN LOOK TO HAVE BOUNCE)