Guar snapped a three-day winning streak to end nearly a percent down on profit-taking. Traders may continue booking profit ahead of the monsoon forecast report by the Indian Meteorological Department, which is expected to come on Friday. In the Jodhpur spot market, guar dropped 15 rupees to end at 2,401 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.82%. Market has opened at 2443 & made a low of 2410 versus the day high of 2456. The total volume for the day was at 214430 lots and the open interest was at 182200.Now support for the guar is seen at 2399 and below could see a test of 2382. Resistance is now likely to be seen at 2445, a move above could see prices testing 2474.

Trading Ideas:

Guar trading range is 2382-2474.

Guar ended nearly a percent down on profit-taking

Guar is getting resistance at 2445 and support is at 2399 level

NCDEX accredited warehouses guar stocks fell by 149 tonnes to 22129 tonnes.

SELL GUAR MAY @ 2420-2430 SL 2452 TGT 2400-2376. NCDEX

In Jodhpur guar prices dropped 15 rupees to end at 2,401 rupees per 100 kg.