Guar hit fresh contract lows before settling a percent higher on buying interest at low-levels, driven by a lower production view and thin arrivals. Spot market is firm on buying enquiries from domestic players. Demand may pick up in the physical market if prices sustain at these levels. In the Jodhpur spot market, guar gained 24 rupees to end at 2,304 rupees per 100 kg. Guar yesterday we have seen that market has moved 1.07%. Market has opened at 2231 & made a low of 2215 versus the day high of 2278. The total volume for the day was at 287470 lots and the open interest was at 183610.Now support for the guar is seen at 2231 and below could see a test of 2191. Resistance is now likely to be seen at 2294, a move above could see prices testing 2317.

Trading Ideas:

Guar trading range is 2191-2317.

Guar settled higher on buying interest at low-levels driven by a lower production.

Spot market is firm on buying enquiries from domestic players.

NCDEX accredited warehouses guar stocks fell by 479 tonnes to 32038 tonnes.

BUY GUAR MAR ABV 2280 SL 2258 TGT 2298-2314-2328.NCDEX

In Jodhpur price gained 24 rupees to end at 2,304 rupees per 100 kg