Guar ended higher on Saturday as estimates of lower output triggered buying at lower levels. The rise in spot market also supported the prices. In the Jodhpur spot market, guar gained up 50 rupees to end at 2,355 rupees per 100 kg. The movement in guar is driven by monsoon as it is a rain-fed crop. Guar yesterday we have seen that market has moved 1.69%. Market has opened at 2304 & made a low of 2301 versus the day high of 2353. The total volume for the day was at 134200 lots and the open interest was at 127860.Now support for the guar is seen at 2311 and below could see a test of 2280. Resistance is now likely to be seen at 2363, a move above could see prices testing 2384.

Trading Ideas:

Guar trading range is 2280-2384.

Guar ended higher on Saturday as estimates of lower output triggered buying

Guar is getting resistance at 2363 and support is at 2326 level

NCDEX accredited warehouses guar stocks fell by 219 tonnes to 26884 tonnes.

In Jodhpur guar prices gained 50 rupees to end at 2,355 rupees per 100 kg.

BUY GUAR APR @ 2310-2320 SL 2290 TGT 2338-2356-2370.NCDEX