uar yesterday we have seen that market has moved -1.55% as traders chose to sell after monsoon arrived in Kerala. Monsoon rains are weighing on sentiment. Fundamentals are not weak but prices may drop further on the monsoon factor. In the Jodhpur spot market, guar ended at 2,323 rupees per 100 kg. Market has opened at 2322 & made a low of 2283 versus the day high of 2359. The total volume for the day was at 85670 lots and the open interest was at 61220.Now support for the guar is seen at 2264 and below could see a test of 2235. Resistance is now likely to be seen at 2340, a move above could see prices testing 2387.

Trading Ideas:

Guar trading range is 2235-2387.

Guar ended weak after monsoon arrived in Kerala

Guar is getting resistance at 2318 and support is at 2278 level

NCDEX accredited warehouses guar stocks rose 78 tonnes to 11228 tonnes.

In Jodhpur guar prices settled at 2,323 rupees per 100 kg.

SELL GUAR JULY @ 2305 SL 2325 TGT 2285-2265.NCDEX