Guar yesterday we have seen that market has moved -1.14% as traders continued to book profit on hopes of revival in monsoon and sluggish demand for byproducts of guar seed. Demand for churi and korma is weak because of sufficient availability of green grass. The monsoon factor is also weighing on prices. In the Jodhpur spot market, guar seed fell 6 rupees to end at 2,303 rupees per 100 kg. Market has opened at 2369 & made a low of 2332 versus the day high of 2377. The total volume for the day was at 229240 lots and the open interest was at 119440.Now support for the guar is seen at 2329 and below could see a test of 2308. Resistance is now likely to be seen at 2374, a move above could see prices testing 2398.

Trading Ideas:

Guar trading range is 2308-2398.

Guar ended weak on continued profit booking on hopes of revival in monsoon

Guar is getting resistance at 2374 and support is at 2329 level

Yesterday we have seen that open interest fell by 4340 and volume by 23810

SELL GUAR JULY @ 2355-2365 SL 2385 TGT 2340-2320.NCDEX

In Jodhpur guar prices fell by 6 rupees and settled at 2,303 rupees per 100 kg.