Guar pared all its gains and ended steady on forecast of normal monsoon and weak demand for churi and korma, offsetting weak arrivals and estimates of lower output. In the Jodhpur spot market, guar fell 11 rupees to end at 2,381 rupees per 100 kg. Guar yesterday we have seen that market has moved 0.12%. Market has opened at 2414 & made a low of 2393 versus the day high of 2438. The total volume for the day was at 193420 lots and the open interest was at 115880.Now support for the guar is seen at 2389 and below could see a test of 2369. Resistance is now likely to be seen at 2434, a move above could see prices testing 2459.

Trading Ideas:

Guar trading range is 2369-2459.

Guar ended steady on forecast of normal monsoon

Guar is getting resistance at 2434 and support is at 2389 level

NCDEX accredited warehouses guar stocks rose by 80 tonnes to 15219 tonnes.

In Jodhpur guar prices dropped by 11 and settled at 2,381 rupees per 100 kg.

SELL GUAR JUNE BELOW 2405 SL 2422 TGT 2490-2472.NCDEX