Guar slipped into the negative territory as profit-booking outweighed estimates of lower crop and improved overseas demand. Guar has gained over 5 percent in the last 9 sessions. The previous high was 2,925 rupees per 100 kg marked on Tuesday.

Traders are selling on apprehension that demand may not be higher at these levels. Guar yesterday we have seen that market has moved -1%. Market has opened at 2821 & made a low of 2765 versus the day high of 2842. The total volume for the day was at 175540 lots and the open interest was at 112010. Now support for the guar is seen at 2751 and below could see a test of 2719. Resistance is now likely to be seen at 2828, a move above could see prices testing 2873.

Trading Ideas:

GUAR TRADING RANGE IS 2730-2830.

GUAR ENDED DOWN AS PROFIT-BOOKING OUTWEIGHED ESTIMATES OF LOWER CROP

BUY GUAR DEC @ 2750-2760 SL 272 0TGT 2788-2800-2825.NCDEX

SUPPORT FOR THE GUAR IS AT 2768 BELOW THIS NEXT SUP IS AT 2751-2734.

GUAR HAS GAINED OVER 5% IN THE LAST 9 SESSIONS HITTING HIGH OF 2,925 RUPEES ON TUESDAY

IN BIKANER PRICES DROPPED 15 RUPEES AND ENDED AT 2730 RUPEES PER 100 KG