Guar settled up on short covering and on prospects of lower crop and squeezed supplies. Forecast of lower output buoyed guar to contract highs but profit-taking could not be ruled out at these levels as investors would now wait for fresh overseas cues.

Guar yesterday we have seen that market has moved -0.41%. Market has opened at 2675 & made a low of 2657 versus the day high of 2687. The total volume for the day was at 210070 lots and the open interest was at 200070.Now support for the guar is seen at 2650 and below could see a test of 2638. Resistance is now
likely to be seen at 2680, a move above could see prices testing 2698.

Trading Ideas:

GUAR TRADING RANGE IS 2610-2720.

GUAR SETTLED UP ON SHORT COVERING AND ON PROSPECTS OF LOWER CROP

BUY GUAR NOV @ 2640-2650 SL 2618 TGT 2674-2690-2705.NCDEX

SOME SELLING PRESSURE CAN BE SEEN AND SUP IS AT 2650

BELOW THIS NEXT SUP IS AT 2620 LVL.

GUAR IS TAKING RESIST OF 2680 ABV THIS NEXT RESIST AT 2698-2716.

IN BIKANER PRICES GAINED BY RUPEES 12 AND ENDED AT 2602.90 RUPEES PER 100 KG