Guar ended higher on bargain-buying, led by estimates of lower crop and weak arrivals, though rising stocks and slack exports for guar gum limited the upside. In NCDEX accredited warehouses, guar stocks rose by 378 tonnes to 33,558 tonnes as on Jan. 30. In the Jodhpur spot market, guar price dropped 11 rupees to 2,367 rupees per 100 kg. Guar yesterday we have seen that market has moved 0.53%.

Market has opened at 2344 & made a low of 2316 versus the day high of 2372. The total volume for the day was at 146460 lots and the open interest was at 160910. Now support for the guar is seen at 2327 and below could see a test of 2294. Resistance is now likely to be seen at 2383, a move above could see prices testing 2406.

Trading Ideas:

Guar trading range is 2320-2400.

Guar ended higher on bargain-buying supported by estimates of lower crop and weak arrivals

Guar is taking resistance at 2383 and support at 2348.

NCDEX accredited warehouses guar stocks seen at 33,558 tonnes up by 378 tonnes.

In Jodhpur prices fell by over 11 rupees to 2, 367 rupees per 100 kg

BUY GUAR FEB @ 2330-340 SL 2308 TGT 2358-2370-2390.NCDEX