Guar ended down as forecast of normal monsoon and poor demand for churi and korma weighed on sentiment. Movement in guar is driven completely by monsoon. In the Jodhpur spot market, guar fell 8 rupees to end at 2,334 rupees per 100 kg. Guar yesterday we have seen that market has moved -0.34%. Market has opened at 2330 & made a low of 2314 versus the day high of 2352. The total volume for the day was at 200670 lots and the open interest was at 130200.Now support for the guar is seen at 2309 and below could see a test of 2292. Resistance is now likely to be seen at 2347, a move above could see prices testing 2368.

Trading Ideas:

Guar trading range is 2292-2368.

Guar ended down as per expectation on poor demand

Guar is getting resistance at 2347 and support is at 2309 level

Yesterday we have seen that open interest fell by 6230 and volume by 68980

SELL GUAR JUNE ON JUMP @ 2335 SL 2350 TGT 2315-2290.NCDEX

In Jodhpur guar prices dropped by 8 and settled at 2,334 rupees per 100 kg.