Guar ended lower in volatile trade dragged down by weak export demand for guar gum and rising stocks. Local demand is there but exports are not picking up. In NCDEX accredited warehouses stock of guar rose by 424 tonnes to 33,691 tonnes as on Jan. 27.

In the Jodhpur spot market, guar price gained 28 rupees to 2,349 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.35%. Market has opened at 2315 & made a low of 2272 versus the day high of 2337. The total volume for the day was at 302490 lots and the open interest was at 181180. Now support for the guar is seen at 2274 and below could see a test of 2241. Resistance is now likely to be seen at 2339, a move above could see prices testing 2371.

Trading Ideas:

Guar trading range is 2260-2345.

Guar ended lower down by weak export demand and rising stocks

Local demand is there but exports are not picking up

NCDEX accredited warehouses stock of guar rose by 424 tonnes as on Jan 27.

In Jodhpur prices gained 28 rupees to 2,349 rupees per 100 kg

BUY GUAR FEB ABV 2310 SL 2288 TGT 2324-2338-2356. NCDEX