Guar ended down Saturday on profit booking and weak overseas demand for guar gum, sufficient stocks and dull cues from spot market also weighed on prices. In NCDEX accredited warehouses, guar stocks rose by 128 tonnes to 33,180 tonnes as on Jan. 29. In the Jodhpur spot market, guar price gained by over 34 rupees to 2,378.25 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.59%. Market has opened at 2365 & made a low of 2336 versus the day high of 2378. The total volume for the day was at 177490 lots and the open interest was at 165260.Now support for the guar is seen at 2325 and below could see a test of 2310. Resistance is now likely to be seen at 2367, a move above could see prices testing 2394.

Trading Ideas:

Guar trading range is 2300-2385.

Guar ended down Saturday on profit booking and weak overseas demand

Guar is taking resistance at 2367 and support at 2325.

NCDEX accredited warehouses guar stocks seen at 33,052 tonnes

In Jodhpur prices gained by over 34 rupees to 2,378.25 rupees per 100 kg

SELL GUAR FEB @ 2370 SL 2405 TGT 2345-2328-2312.NCDEX