Guar yesterday we have seen that market has moved -1.23% on poor demand in the physical market and hopes of a rise in acreage as farmers received better prices last year. Weak rainfall in central and northern India was earlier a concern, but revival of monsoon rains is now putting pressure on prices. In the Jodhpur spot market in Rajasthan, guar seed fell 26 rupees to 2,277 rupees per 100 kg. Market has opened at 2347 & made a low of 2318 versus the day high of 2354. The total volume for the day was at 210520 lots and the open interest was at 120410.Now support for the guar is seen at 2309 and below could see a test of 2296. Resistance is now likely to be seen at 2345, a move above could see prices testing 2368.

Trading Ideas:

Guar trading range is 2296-2368.

Guar ended weak on poor demand in the physical market

Guar is getting resistance at 2345 and support is at 2309 level

Yesterday we have seen that open interest rose by 970 and volume fell by 18720

SELL GUAR JULY @ 2340 SL 2365 TGT 2318-2300.NCDEX

In Jodhpur guar prices fell by 26 rupees and settled at 2,277 rupees per 100 kg.