Guar softened on forecast of normal monsoon and weak demand for churi and korma. The forecast of normal monsoon is weighing on prices. Demand from millers has also come down. In the Jodhpur spot market, guar fell 12 rupees to end at 2,369 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.71%. Market has opened at 2409 & made a low of 2371 versus the day high of 2409. The total volume for the day was at 193020 lots and the open interest was at 125570.Now support for the guar is seen at 2372 and below could see a test of 2352. Resistance is now likely to be seen at 2410, a move above could see prices testing 2428.

Trading Ideas:

Guar trading range is 2359-2435.

Guar softened due to weak demand for churi and korma

Demand from millers has also come down.

Guar is getting resistance at 2410 and support is at 2372 level

SELL GUAR JUNE BELOW 2387 SL 2305 TGT 2365-2344.NCDEX

In Jodhpur guar prices dropped by 12 and settled at 2,369 rupees per 100 kg.