Commodity Outlook for Guar by KediaCommodity

GuarGuar ended down on Saturday due to profit booking by traders. Weak spot market prices also weighed. In Jodhpur, a major trading hub in Rajasthan, guar fell 19 rupees to 2,356 rupees per 100 kg. Guar yesterday we have seen that market has moved -1.09%. Market has opened at 2382 & made a low of 2361 versus the day high of 2392. The total volume for the day was at 152660 lots and the open interest was at 183680.Now support for the guar is seen at 2355 and below could see a test of 2343. Resistance is now likely to be seen at 2386, a move above could see prices testing 2405.

Trading Ideas:

Guar trading range is 2343-2405.

Guar ended down on Saturday due to profit booking

Guar is getting resistance at 2386 and support is at 2355 level

NCDEX accredited warehouses guar stocks fell by 814 tonnes to 23511 tonnes.

In Jodhpur guar prices fell 19 rupees to 2,356 rupees per 100 kg.

SELL GUAR MAY @ 2370-2380 SL 2402 TGT 2356-2325.NCDEX