Guar yesterday we have seen that market has moved -1.25% as progress of monsoon in the country dampened sentiment while demand for churi and korma dwindled. Planting of guar commences from beginning of June in the irrigated areas, while farmers in non-irrigated areas sow after mid-June, when monsoon rain reaches Rajasthan. In the Jodhpur spot market, guar seed dropped 41 rupees to end at 2,155 rupees per 100 kg. Market has opened at 2227 & made a low of 2189 versus the day high of 2244. The total volume for the day was at 202720 lots and the open interest was at 110680.Now support for the guar is seen at 2181 and below could see a test of 2157. Resistance is now likely to be seen at 2236, a move above could see prices testing 2267.

Trading Ideas:

Guar trading range is 2158-2268.

Guar ended lower as progress of monsoon dampened sentiment

Guar is getting resistance at 2236 and support is at 2181 level

NCDEX accredited warehouses guar stocks fell 139 tonnes to 10702 tonnes.

GUAR AS PER EXPECTATION DIPPED NOW SUPPORT IS AT 2180 TODAY BOUNCE.

In Jodhpur guar prices fell 41 rupees and settled at 2,155 rupees per 100 kg.