Guar ended weak on profit booking. Buyers are not interested in holding the long positions at higher levels in absence of any positive trigger. Prices in spot market are steady. Exporters and millers are buying in physical market on hopes of higher prices in coming days. In the Jodhpur spot market, guar gained 8 rupees to end at 2,343 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.72%. Market has opened at 2380 & made a low of 2345 versus the day high of 2384. The total volume for the day was at 256080 lots and the open interest was at 170890.Now support for the guar is seen at 2337 and below could see a test of 2322. Resistance is now likely to be seen at 2376, a move above could see prices testing 2400.

Trading Ideas:

Guar trading range is 2325-2403.

Guar yesterday ended weak on profit booking

Guar is getting resistance at 2376 and support is at 2337 level

NCDEX accredited warehouses guar stocks fell by 197 tonnes to 27655 tonnes.

In Jodhpur guar prices gained 8 rupees to end at 2,343 rupees per 100 kg

SELL GUAR APR BELOW 2360 SL 2388 TGT 2342-2320-2308. NCDEX