Guar yesterday we have seen that market has moved -1.26% on profit-booking after rising more than 2 percent in the previous session and on poor demand for churi and korma. Guar sowing is advancing in Rajasthan and may pick up further, if the major cultivating regions receive good rains in the next coming days. In the Jodhpur spot market, guar seed gained 62 rupees to end at 2,416 rupees per 100 kg. Market has opened at 2517 & made a low of 2486 versus the day high of 2558. The total volume for the day was at 508290 lots and the open interest was at 184350.Now support for the guar is seen at 2474 and below could see a test of 2444. Resistance is now likely to be seen at 2546, a move above could see prices testing 2588.

Trading Ideas:

Guar trading range is 2443-2587.

Guar ended down on profit-booking after rising more than 2% previously

Guar is getting resistance at 2546 and support is at 2474 level

Yesterday we have seen that open interest fell by 2930 and volume rose by 24230 lots

In Jodhpur guar prices gained by 62 rupees and settled at 2,416 rupees per 100 kg.