Commodity Outlook for Guar by Kedia CommodityGuar yesterday we have seen that market has moved -1.06% on profit-taking and fresh arrivals in Haryana and Rajasthan coupled with strong production estimates of the current year. Fresh arrivals of around 400-800 bags were reported in Sriganganagar mandi. In Jodhpur guar prices dropped -8.15 rupees to 1983.65 rupees per 100 kg. Market has opened at 2029 & made a low of 1985 versus the day high of 2029. The total volume for the day was at 164830 lots and the open interest was at 141030. Now support for the guar is seen at 1983 and below could see a test of 1962. Resistance is now likely to be seen at 2027, a move above could see prices testing 2050.

Trading Ideas:

Guar trading range is 1962-2050.

Guar settled weak on profit-taking and fresh arrivals in Haryana and Rajasthan

Guar is taking resistance at 2027 and support is seen at 1983.

NCDEX accredited warehouses guar stocks rose 1268 tonnes to 28021 tonnes.

In Jodhpur guar prices dropped -8.15 rupees to 1983.65 rupees per 100 kg.