Guar extended gains to hit fresh highs, spurred by firm spot, export enquiries and estimates of lower crop. Regular off-take from stockiest and millers is seen in the physical market, but full- fledged demand has yet to arrive.

Guar yesterday we have seen that market has moved 1.13%. Market has opened at 2672 & made a low of 2671 versus the day high of 2701. The total volume for the day was at 290730 lots and the open interest was at 187020. Now support for the guar is seen at 2676 and below could see a test of 2658. Resistance is now likely to be seen at 2706, a move above could see prices testing 2718.

Trading Ideas:

GUAR TRADING RANGE IS 2640-2740.

GUAR HITS NEW CONTRACT HIGHS SPURRED BY SPOT DEMAND AND EXPORT ENQUIRIES.

BUY GUAR DEC ABV 2700 SL 2672 TGT 2712-2725-2738. NCDEX

BE ALERT OVERALL MKT IS BULLISH BUT SOME PULLBACK CAN BE SEEN TODAY.

GUAR IS TAKING RESIST OF 2706 ABV THIS NEXT RESIST AT 2718-2734.

IN BIKANER PRICES GAINED BY RUPEES 31 AND ENDED AT 2636.25 RUPEES PER 100 KG

Commodity Analysis by Kedia Commodity, India's Premium Research House, Mumbai. Check out more commodity reviews at KediaCommodity. com