Guar ended down on weak domestic demand, poor overseas gum orders and sufficient stocks. Lack of arbitrage opportunity and sluggish overseas demand in guar has diverted traders towards other commodities. January 8, demat stock of guar at NCDEX-monitored warehouses was 30,279 MT while 368 MT is in processing. Guar yesterday we have seen that market has moved -0.65%. Market has opened at 2651 & made a low of 2635 versus the day high of 2674. The total volume for the day was at 47240 lots and the open interest was at 113280.Now support for the guar is seen at 2623 and below could see a test of 2610. Resistance is now likely to be seen at 2662, a move above could see prices testing 2688.

Trading Ideas:

Guar trading range is 2580-2680.

Guar ended down on weak domestic demand and sufficient stocks

Demat stock of guar at NCDEX-monitored warehouses was 30,279 MT

In Bikaner prices fell by over 11 rupees and settled at 2607 rupees per 100 kg.

BUY GUAR JAN @ 2620-2632 SL 2608 TGT 2652-2660-2685.NCDEX