April 23, 2011

Commodity Guarseed Outlook for Future

Commodity guar seed May contract prices traded completely higher on yesterday’s trading sessions by reversing the previous trend.

Guarseed has made a low of 2874 then high of 2970 it settled higher at 2966 levels. Closing renders indecisive movements for the day. Prices are witnessing resistance at 2971 levels (previous day’s high).

The commodity guarseed breach levels and sustained the trade at above levels lead the prices to higher side and likely to test next resistance at 3010 levels. The commodity prices are expected to remain higher if the market levels is seen to go up and sustains level of 2971.50.
Guar seed NCDEX: Buy May at 2940 TP 3000 SL 2910.



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