Guar ended higher on bargain buying after losing more than 5 percent in the last 2 sessions. Traders buy the commodity at lower levels but hesitate to hold the position at higher prices in absence of consistent demand. In the Jodhpur spot market, guar fell 31 rupees to end at 2,419 rupees per 100 kg. Guar yesterday we have seen that market has moved 0.74%. Market has opened at 2425 & made a low of 2414 versus the day high of 2470. The total volume for the day was at 230750 lots and the open interest was at 143110.Now support for the guar is seen at 2416 and below could see a test of 2387. Resistance is now likely to be seen at 2472, a move above could see prices testing 2499.

Trading Ideas:

Guar trading range is 2385-2497.

Guar ended higher on bargain buying after losing more than 5% previously

Guar is getting resistance at 2472 and support is at 2428 level

NCDEX accredited warehouses guar stocks fell by 891 tonnes to 18352 tonnes.

In Jodhpur guar prices moved down 31 rupees to end at 2,419 rupees per 100 kg.

SELL GUAR JUNE BELOW 2450 SL 2470 TGT 2434-2416.NCDEX