Guar ended down on profit booking after prices rose Friday and forecast of normal monsoon and poor demand for churi and korma also weighed on sentiment. In the Jodhpur spot market, guar gained 23 rupees to end at 2,321 rupees per 100 kg. Guar yesterday we have seen that market has moved -1.02%. Market has opened at 2371 & made a low of 2326 versus the day high of 2371. The total volume for the day was at 175970 lots and the open interest was at 140890.Now support for the guar is seen at 2318 and below could see a test of 2300. Resistance is now likely to be seen at 2363, a move above could see prices testing 2390.

Trading Ideas:

Guar trading range is 2300-2390.

Guar ended down on profit booking after prices rose Friday

Guar is getting resistance at 2363 and support is at 2318 level

Yesterday we have seen that open interest rose by 1820 and volume fell by 153420

SELL GUAR JUNE @ 2340-2350 SL 2374 TGT 2322-2305.NCDEX

In Jodhpur guar prices gained by 23 and settled at 2,321 rupees per 100 kg.