NCDEX Guargum for March delivery was trading down on Thursday with over all trend looking to be bearish for short term. Guargum March contract declined 2.47 per cent to 9100 levels on Thursday (11.50am).
Guar gum March contract is likely to trade Bearish for short term and side ways for intra day. Short term support is seen at 8650 and resistance at 9550. “Intra day support is seen at 9150 and and resistance at 9310,”.
As per reports, Guargum exports during ongoing fiscal year 2014-15 is expected to decline 25% to 4 lakh to 4.5 lakh tons because there is weak demand for Guar gum in the Interna-tional market due to slump in crude prices . India’s Guar gum export was near 6 lakh tons during the last year.
Guar gum March contract is likely to trade Bearish for short term and side ways for intra day. Short term support is seen at 8650 and resistance at 9550. “Intra day support is seen at 9150 and and resistance at 9310,”.
As per reports, Guargum exports during ongoing fiscal year 2014-15 is expected to decline 25% to 4 lakh to 4.5 lakh tons because there is weak demand for Guar gum in the Interna-tional market due to slump in crude prices . India’s Guar gum export was near 6 lakh tons during the last year.
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