Guar on Saturday again dipped by another 0.5 percent on rising stocks, weak overseas demand for guar gum and dull spot market. In NCDEX-accredited warehouses stock of guar fall by 2050 tonnes to 31773 tonnes as on Jan.  20. In the Jodhpur spot market, guar price dropped 66 rupees to 2,392 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.5%. Market has opened at 2420 & made a low of 2400 versus the day high of 2440. The total volume for the day was at 70870 lots and the open interest was at 122040. Now support for the guar is seen at 2392 and below could see a test of 2376. Resistance is now likely to be seen at 2432, a move above could see prices testing 2456.

Trading Ideas:

Guar trading range is 2376-2456.

Guar dipped on rising stocks and weak overseas demand

NCDEX-accredited warehouses stock of guar fall by 2050 tonnes to 31773 tonnes

In Bikaner prices fell by 33.50 rupees and settled at 2357.50 rupees per 100 kg.

BUY GUAR FEB ABV 2410 SL 2386 TGT 2422-2438-2456. NCDEX

In Jodhpur prices edged down 6 rupees to 2422 rupees per 100 kg