Guar set fresh contract highs in the early trade but struggled to hold the gains as profit-booking kicked in after prices rose nearly 6 percent since the beginning of last week. However, estimates of lower output and overseas demand capped the losses. Guar yesterday we have seen that market has moved 0.07%.

Market has opened at 2828 & made a low of 2807 versus the day high of 2858. The total volume for the day was at 177140 lots and the open interest was at 119100. Now support for the guar is seen at 2801 and below could see a test of 2778. Resistance is now likely to be seen at 2852, a move above could see prices testing 2880.

Trading Ideas:

GUAR TRADING RANGE IS 2760-2880.

GUAR FAILED TO MAINTAIN ITS CONTRACTS HIGHS ON PROFIT BOOKING

SELL GUAR DEC @ 2820-2830 SL 2856 TGT 2802-2784-2762.NCDEX

SUPPORT FOR THE GUAR IS AT 2800 SOME PULLBACK IS EXPECTED IN THE MARKET.

GUAR RESISTANCE IS AT 2852.

IN BIKANER PRICES GAINED 70 RUPEES AND ENDED AT 2760 RUPEES PER 100 KG