Guar yesterday we have seen that market has moved -2.01% 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 23 rupees to end at 2,223 rupees per 100 kg. Market has opened at 2283 & made a low of 2226 versus the day high of 2283. The total volume for the day was at 167480 lots and the open interest was at 94180.Now support for the guar is seen at 2216 and below could see a test of 2192. Resistance is now likely to be seen at 2273, a move above could see prices testing 2306.

Trading Ideas:

Guar trading range is 2192-2306.

Guar ended down Saturday on tepid demand

Guar is getting resistance at 2258 and support is at 2216 level

Yesterday we have seen that open interest rose by 1040 and volume by 40340

In Jodhpur guar prices fell 23 rupees and settled at 2,223 rupees per 100 kg.

SELL GUAR JULY @ 2245-2255 SL 2270 TGT 2226-2206.NCDEX