NCDEX Guar Seed Futures Consolidate Amid Bearish Undertones

Guar Seed

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The NCDEX Guar Seed Futures are currently in a consolidation phase with slight bearish undertones. The downward trendline indicates a bearish trend that was recently broken, suggesting potential consolidation between 5200 and 5400 or a reversal attempt. The price attempted to break above the 5398 resistances but faced selling pressure, pulling back slightly. Key levels to watch are the support at 5233 and the resistance at 5398. A break above 5398 could lead to a resistance level of 5606, whereas a break below 5233 might push prices towards the lower support at 5082. Monitoring the RSI and MACD for any bullish divergence or crossover signals could provide early indications of a trend reversal.