Guar fell more than 0.5% on continued profit booking after prices rose more than 6 percent in the last 10 sessions till Thursday's close. In the Jodhpur spot market, guar fell 30 rupees to end at 2,323 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.52%. Market has opened at 2325 & made a low of 2306 versus the day high of 2346. The total volume for the day was at 188460 lots and the open interest was at 155200.Now support for the guar is seen at 2303 and below could see a test of 2285. Resistance is now likely to be seen at 2343, a move above could see prices testing 2365.

Trading Ideas:

Guar trading range is 2285-2365.

Guar fell more than 0.5% on continued profit booking

Guar is getting resistance at 2343 and support is at 2303 level

NCDEX accredited warehouses guar stocks fell by 378 tonnes to 26950 tonnes.

In Jodhpur guar prices fell 30 rupees to end at 2,323 rupees per 100 kg

BUY GUAR APR @ 2315-2325 SL 2298 TGT 2340-2365-2385. NCDEX