Guar hit fresh contracts highs before settling above 2 percent as estimates of lower output, overseas demand and thin arrivals compared to last year boosted sentiment. Guar is bullish because of very good demand from stockists and less arrival compared to last year.

Stockists are buying actively in physical market in anticipation of further rise in the prices. Guar yesterday we have seen that market has moved 2.84%. Market has opened at 2752 & made a low of 2752 versus the day high of 2839. The total volume for the day was at 246510 lots and the open interest was at 124420.Now support for the guar is seen at 2770 and below could see a test of 2718. Resistance is now likely to be seen at 2857, a move above could see prices testing 2892.

Trading Ideas:

GUAR TRADING RANGE IS 2760-2880.

GUAR HIT FRESH CONTRACTS HIGHS ON OVERSEAS DEMAND AND THIN ARRIVALS

BUY GUAR DEC @ 2800-2820 SL 2780 TGT 2838-2856-2870.NCDEX

MARKET HAD OVER-RAN SOME PROFIT BOOKING CAN BE SEEN TOWARDS EVE SESSION

GUAR RESISTANCE IS AT 2857 ABV THIS LOOKS TILL 2875-2890 LEVEL.

IN BIKANER PRICES REMAINED STEADY AT 2690 RUPEES PER 100 KG