NCDEX Guar Seed price fell by 3% on Wednesday session. On the daily chart, price has formed H&S pattern, which is a reversal pattern and indicates bearish movement for near term. Moreover, price has sustained below 50 EMA and 21 SMA on the daily chart, which confirms downward trend in the counter. Furthermore, a momentum indicator RSI (14) and MACD has shown negative crossover, which suggest southward movement in the prices. Hence, we expect bearish movement in the prices for the day.
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