Guar yesterday we have seen that market has moved 0.45% as improved export and domestic demand for the byproducts supported the prices. All India arrivals are reported at around 80,000 bags. Some parts of Rajasthan have received rainfall during past couple of days. Till date there are no reports of crop damage from any part of Rajasthan due to the rainfall. Fresh arrivals are not sufficient enough to create supply pressure in the domestic markets. In Jodhpur guar prices dropped -4.7 rupees to 2321.4 rupees per 100 kg. Market has opened at 2410 & made a low of 2393 versus the day high of 2450. The total volume for the day was at 261400 lots and the open interest was at 172060. Now support for the guar is seen at 2393 and below could see a test of 2364. Resistance is now likely to be seen at 2450, a move above could see prices testing 2478.

Trading Ideas:

Guar trading range is 2365-2479.

Guar yesterday settled firm as improved export and domestic demand

Guar is taking resistance at 2450 and support is seen at 2393.

Fresh arrivals are not sufficient enough to create supply pressure in domestic markets

In Jodhpur guar prices dropped -4.7 rupees to 2321.4 rupees per 100 kg.