Guar edged higher boosted by hopes of lower production, thin arrivals and on likely improvement in domestic demand. In the Jodhpur spot market, guar price fell 3 rupees to end at 2,388 rupees per 100 kg. Guar yesterday we have seen that market has moved 0.3%. Market has opened at 2345 & made a low of 2330 versus the day high of 2360. The total volume for the day was at 82460 lots and the open interest was at 126020.Now support for the guar is seen at 2333 and below could see a test of 2316. Resistance is now likely to be seen at 2363, a move above could see prices testing 2376.

Trading Ideas:

Guar trading range is 2316-2376.

Guar dropped yesterday tracking a weak spot market

Guar is having support at 2320 and resistance at 2377 level.

NCDEX accredited warehouses guar stocks rose by 20 tonnes to 29633 tonnes.

In Jodhpur price fell by 33 rupees to 2,391 rupees per 100 kg

BUY GUAR MAR @ 2315-2325 SL 2300 TGT 2342-2360-2378.NCDEX