Guar yesterday we have seen that market has moved 1.23% as lower stocks, good demand for guar gum from overseas and thin arrivals supported buying. Market yesterday opened at 2199 & made a low of 2196 versus the day high of 2235.

Export demand is good and may improve more in coming days as we have seen market was already holding with the support and making a base on 2200 so in next couple of days prices are likely to remain firm. NCDEX accredited warehouses; stock of guar seed dropped 49 tonnes to 22,078 tonnes as on Aug. 16 and in the Jodhpur spot market, guar seed gained 10 rupees to end at 2,166 rupees per 100 kg. The total volume for the day was at 211190 lots and the open interest was at 180930.Now support for the guar is seen at 2204 and below could see a test of 2180. Resistance is now likely to be seen at 2243, a move above could see prices testing 2258.

Trading Ideas:

Guar trading range is 2172-2250.

Guar moved more that 1% on lower stocks, good demand from overseas

Rainfall in Rajasthan was 63% more than normal in the week ended Aug. 11

In the Jodhpur spot market, guar seed gained 10 rupees to end at 2,166 rupees per 100 kg

BUY GUAR SEPT @ 2200-2210 SL 2180 TGT 2234-2254.NCDEX

Guar is getting resistance at 2243 and support is at 2185 level