Guar yesterday we have seen that market has moved 0.84% on good demand for guar gum from overseas countries amid a supply shortage. Demand from oil drilling companies is good. Exports may be better this year. In the Jodhpur spot market, guar seed slipped 15 rupees to end at 2,401 rupees per 100 kg. Market has opened at 2508 & made a low of 2489 versus the day high of 2530. The total volume for the day was at 362040 lots and the open interest was at 189590.Now support for the guar is seen at 2497 and below could see a test of 2473. Resistance is now likely to be seen at 2538, a move above could see prices testing 2555.

Trading Ideas:

Guar trading range is 2473-2555.

Guar ended positive on good demand from overseas countries

Guar is getting resistance at 2538 and support is at 2497 level

NCDEX accredited warehouses guar stocks rose by 59 tonnes to 14139 tonnes.

In Jodhpur guar prices dropped by 15 rupees and settled at 2,401 rupees per 100 kg.