Guar rebounded as per expectation smartly from an early decline on lower-level buying and short-covering after prices fell over 6 percent in the last two sessions. Short-covering along with lower-level buying supported the recovery in guar. Any improvement in spot demand may further push the prices upside. Guar yesterday we have seen that market has moved 1.78%.

Market has opened at 2639 & made a low of 2606 versus the day high of 2690. The total volume for the day was at 65000 lots and the open interest was at 48620. Now support for the guar is seen at 2629 and below could see a test of 2576. Resistance is now likely to be seen at 2713, a move above could see prices testing 2744.

Trading Ideas:

GUAR TRADING RANGE IS 2630-2735.

GUAR REBOUNDED AS PER EXPECTATION ON LOWER-LEVEL BUYING AND SHORT-COVERING

BUY GUAR DEC @ 2660-2680 SL 2638 TGT 2705-2734-2756. NCDEX (1-2 DAYS)

NOW SUPPORT FOR GUAR IS AT 2660 AND RESIST IS AT 2708.

IN BIKANER PRICES GAINED OVER 6 RUPEES AND ENDED AT 2600.65 RUPEES PER 100 KG.