Guar seed prices are presently moving in a downward trend due to weak spot demand from stockists and millers. In addition to it, speculation from punters also drag the guar seed market down.
Technical price outlook for short to medium term;
Guar seed prices likely to test Rs 3340 and then 2700 per quintal in the coming weeks. Currently it is trading at Rs 3740 per quintal March contract. We expect prices to test Rs 4000 per quintal from where market participants can make a new sell position with a SL of Rs 4100 per quintal. Target Rs 3340 and then 2700 per quintal,
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