Guar yesterday we have seen that market has moved -0.65% as forecast of normal monsoon and tepid demand for guar seed by-products weighed on sentiment. Guar seed is a rain fed crop and normal monsoon may boost the sowing of the crop. In the Jodhpur spot market, guar seed dropped 47 rupees to end at 2,252 rupees per 100 kg. Market has opened at 2290 & made a low of 2246 versus the day high of 2315. The total volume for the day was at 242250 lots and the open interest was at 95090.Now support for the guar is seen at 2245 and below could see a test of 2211. Resistance is now likely to be seen at 2314, a move above could see prices testing 2349.

Trading Ideas:

Guar trading range is 2211-2349.

Guar ended weak on tepid demand for guar seed by-products

Guar is getting resistance at 2296 and support is at 2258 level

NCDEX accredited warehouses guar stocks fell 328 tonnes to 10841 tonnes.

SELL GUAR JULY @ 2290-2300 SL 2326 TGT 2268-2240.NCDEX

In Jodhpur guar prices fell 47 rupees and settled at 2,252 rupees per 100 kg.