Guar yesterday we have seen that market has moved -0.17% as weak demand in the spot market guided traders to reduce their holdings. Sluggish demand and increased arrivals in the spot market sparked selling in the future markets. In the Jodhpur spot market, guar fell 16 rupees to end at 2,252 rupees per 100 kg. Market has opened at 2283 & made a low of 2270 versus the day high of 2308. The total volume for the day was at 246350 lots and the open interest was at 146970.Now support for the guar is seen at 2273 and below could see a test of 2253. Resistance is now likely to be seen at 2311, a move above could see prices testing 2329.

Trading Ideas:

Guar trading range is 2253-2329.

Guar ended lower as weak demand in spot market weighed on prices

Guar is getting resistance at 2311 and support is at 2273 level

NCDEX accredited warehouses guar stocks rose by 207 tonnes to 20011 tonnes.

In Jodhpur guar prices fell by 16 rupees and settled at 2252 rupees per 100 kg.