Guar ended weak on technical selling driven by forecast of normal monsoon and weak demand for churi and korma. In the Jodhpur spot market, guar fell 27 rupees to end at 2,342 rupees per 100 kg. Guar is a rain-fed crop and normal monsoon may boost the sowing of the crop. Guar yesterday we have seen that market has moved -2.63%. Market has opened at 2386 & made a low of 2322 versus the day high of 2390. The total volume for the day was at 269650 lots and the open interest was at 136430.Now support for the guar is seen at 2305 and below could see a test of 2279. Resistance is now likely to be seen at 2373, a move above could see prices testing 2415.

Trading Ideas:

Guar trading range is 2279-2415.

Guar ended weak on technical selling driven by forecast of normal monsoon

Guar is getting resistance at 2352 and support is at 2305 level

Yesterday we have seen that open interest rose by 10860 and volume by 76630

In Jodhpur guar prices dropped by 27 and settled at 2,342 rupees per 100 kg.

SELL GUAR JUNE @ 2345 SL 2370 TGT 2320-2295.NCDEX