Guar rebounded sharply from an early session decline on thin arrivals, estimates of lower output and on hopes of improved export demand. In the Jodhpur spot market, guar seed prices edged down one rupee to 2,702 rupees per 100 kg. Guar yesterday we have seen that market has moved 1.79%.

Market has opened at 2732 & made a low of 2714 versus the day high of 2789. The total volume for the day was at 295290 lots and the open interest was at 173100.Now support for the guar is seen at 2736 and below could see a test of 2687. Resistance is now likely to be seen at 2811, a move above could see prices testing 2837.

Trading Ideas:

Guar trading range is 2730-2830.

Guar ended higher on thin arrivals, lower output and improved export demand

Guar is getting resistance for Guar is at 2802 and support is at 2768.

In Bikaner prices gained over 15 rupees and ended at 2713 rupees per 100 kg.

BUY GUAR JAN @ 2770-2780 SL 2748 TGT 2799-2820-2845. NCDEX