Guar traded bearishly throughout day trading due to heavy selling pressure but recovered it’s all losses and closed with minimal losses on Saturday. Demand in the physical market is however reported to be good which limited the losses. In NCDEX accredited warehouses stock of guar stood steady at 31,020 tonnes as on Jan. 15.

In the Jodhpur spot market, guar price was lower by over 4 rupees to 2,523 rupees per 100 kg at Jodhpur. Guar yesterday we have seen that market has moved -0.16%. Market has opened at
2550 & made a low of 2536 versus the day high of 2562. The total volume for the day was at 183810 lots and the open interest was at 231710. Now support for the guar is seen at 2538 and below could see a test of 2524. Resistance is now likely to be seen at 2564, a move above could see prices testing 2576.

Trading Ideas:

Guar trading range is 2515-2595.

Guar ended down on Saturday due to heavy selling pressure

Demat stock of guar at NCDEX-monitored warehouses stood steady at 31020 tonnes

In Bikaner prices fell by over 13 rupees and settled at 2487 rupees per 100 kg.

SELL GUAR FEB @ 2565 SL 2585 TGT 2548-2534-2522-2502.NCDEX