Guarseed once again rallied this week nearly 19.45% overall market had gained nearly 76% from 13th
Aug to till data as per our last update we were expecting market to
test Rs.7000.00 level that had tested today.
Also support seen in the spot market as low Monsoon had impacted the crop also demand from stockiest has emerged last month looking to the low prices.
But once again we have to keep in mind that higher carry-forward stock and expectations of bumper harvest on expanded area can weigh the prices at higher levels despite this spot market has crossed Rs.10,000.00 level and we see prices to test Rs.7800.00 nearby in next week.
Also support seen in the spot market as low Monsoon had impacted the crop also demand from stockiest has emerged last month looking to the low prices.
But once again we have to keep in mind that higher carry-forward stock and expectations of bumper harvest on expanded area can weigh the prices at higher levels despite this spot market has crossed Rs.10,000.00 level and we see prices to test Rs.7800.00 nearby in next week.
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