Guar shed nearly 2 percent on poor domestic demand and soft overseas orders for guar gum on concerns prices may correct further. In the Jodhpur spot market, guar seed prices were steady in early trade but fell 43 rupees to 2,610 rupees per 100 kg at close. Guar yesterday we have seen that market has moved -1.78%. Market has opened at 2700 & made a low of 2625 versus the day high of 2717. The total volume for the day was at 153480 lots and the open interest was at 130680.Now support for the guar is seen at 2609 and below could see a test of 2571. Resistance is now likely to be seen at 2701, a move above could see prices testing 2755.

Trading Ideas:

Guar trading range is 2600-2700.

Guar yesterday ended down as per expectation on poor domestic demand

Now resistance for guar is at 2664 and support is at 2628.

In Bikaner prices fell by over 46 rupees and settled at 2607.80 rupees per 100 kg.

HOLD/ BUY GUAR JAN @ 2620-2630 SL 2598 TGT 2646-2662-2680.NCDEX