Guar yesterday we have seen that market has moved -2.74% on lacklustre demand due to estimates of higher production after area under guar seed increased and on favourable weather. Estimates of higher production are pushing the market down.  In Jodhpur guar prices dropped -19.2 rupees to 2028.6 rupees per 100 kg.

Market has opened at 2044 & made a low of 1982 versus the day high of 2057. The total volume for the day was at 294520 lots and the open interest was at 163950.Now support for the guar is seen at 1960 and below could see a test of 1933. Resistance is now likely to be seen at 2035, a move above could see prices testing 2083.

Trading Ideas:

Guar trading range is 1935-2085.

Guar ended lower on lacklustre demand due to estimates of higher production

Guar is getting resistance at 2000 and support is at 1960 level

NCDEX accredited warehouses guar stocks fell 69 tonnes to 21092 tonnes.

In Jodhpur guar prices dropped -19.2 rupees to 2028.6 rupees per 100 kg.