Guar reversed early losses to end higher on lower-level buying sparked by estimates of lower crop, offsetting pressure from rising stocks and dull overseas demand guar gum. In NCDEX- accredited warehouses stock of guar jumped 2,112 tonnes to 33,813 tonnes as on Jan. 19.

At the Jodhpur spot market in Rajasthan, guar price edged up 4 rupees to 2,460 rupees per 100 kg. Guar yesterday we have seen that market has moved 0.32%. Market has opened at 2462 & made a low of 2360 versus the day high of 2484. The total volume for the day was at 283690 lots and the open interest was at 227580. Now support for the guar is seen at 2393 and below could see a test of 2314. Resistance is now likely to be seen at 2517, a move above could see prices testing
2562.

Trading Ideas:

Guar trading range is 2425-2525.

Guar ended higher on lower-level buying sparked by estimates of lower crop

Guar is taking support at 2458 and resistance at 2592 level.

In Bikaner prices fell by 2 rupees and settled at 2420 rupees per 100 kg.

Demat stock of guar at NCDEX-monitored warehouses rose by 2212 tonnes to 33813 tonnes

BUY GUAR FEB @ 2460-2465 SL 2436 TGT 2480-2498-2515.NCDEX