Guar yesterday we have seen that market has moved -3.55% as traders chose to book profits after prices rose for three consecutive sessions while prospects of higher output this year underpinned sentiment. Sowing is higher than last year. Current weather conditions are favorable for crop growth. In Jodhpur guar prices dropped -33.8 rupees to 2131.9 rupees per 100 kg. Market has opened at 2233 & made a low of 2148 versus the day high of 2239. The total volume for the day was at 422470 lots and the open interest was at 178210. Now support for the guar is seen at 2118 and below could see a test of 2088. Resistance is now likely to be seen at 2209, a move above could see prices testing 2270.

Trading Ideas:

Guar trading range is 2089-2271.

Guar ended lower on profit booking after prices rose for three

consecutive sessions

Guar is getting resistance at 2172 and support is at 2118 level

NCDEX accredited warehouses guar stocks rose by 168 tonnes 22197 tonnes.

In Jodhpur guar prices dropped -33.8 rupees to 2131.9 rupees per 100 kg.