Guar ended down on profit booking but expectation of a jump in domestic and overseas demand, offsetting sufficient stocks. Exports are not as per the expectation and this is hurting prices, as we are the major exporters in guar gum. In the Jodhpur spot market in Rajasthan, guar prices settled at 2,292.95 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.88%. Market has opened at 2289 & made a low of 2267 versus the day high of 2297. The total volume for the day was at 143380 lots and the open interest was at 193430.Now support for the guar is seen at 2262 and below could see a test of 2250. Resistance is now likely to be seen at 2292, a move above could see prices testing 2310.

Trading Ideas:

Guar trading range is 2250-2310.

Guar on Saturday ended down on profit booking

Exports are not as per the expectation hurting the prices

Support for the guar is at 2262 and resistance is at 2292.

In Jodhpur guar prices settled at 2,292.95 rupees per 100 kg

SELL GUAR APR @ 2270-2280 SL 2300 TGT 2256-2240. NCDEX