Guar yesterday we have seen that market has moved -3.32% due to profit booking at the higher levels. Export demand has reportedly slowed down as traders waited for corrections before initiating fresh buying in the mandis. Also there is report of delayed and poor quality arrivals that is weighing on the prices. In Jodhpur guar prices dropped -86.05 rupees to 2712.9 rupees per 100 kg. Market has opened at 2890 & made a low of 2783 versus the day high of 2915. The total volume for the day was at 209590 lots and the open interest was at 129570.Now support for the guar is seen at 2750 and below could see a test of 2700. Resistance is now likely to be seen at 2882, a move above could see prices testing 2964.

Trading Ideas:

Guar trading range is 2699-2963.

Guar ended lower due to profit booking at the higher levels

Guar is taking resistance at 2820 and support is seen at 2764.

NCDEX accredited warehouses guar stocks fell by 346 tonnes to 95749 tonnes.

In Jodhpur guar prices dropped -86.05 rupees to 2712.9 rupees per 100 kg.