Guar edged up on thin arrivals and firm demand for churi and korma, the by-products of guar seed. Traders are waiting for the monsoon report which is expected by the last week of April. In the Jodhpur spot market, guar edged up 4 rupees to end at 2,315 rupees per 100 kg. Guar yesterday we have seen that market has moved 0.04%. Market has opened at 2319 & made a low of 2308 versus the day high of 2329. The total volume for the day was at 111910 lots and the open interest was at 160040. Now support for the guar is seen at 2308 and below could see a test of 2297. Resistance is now likely to be seen at 2329, a move above could see prices testing 2339.

Trading Ideas:

Guar trading range is 2298-2340.

Guar edged up on thin arrivals and firm demand for churi and korma

Guar is getting resistance at 2339 and support is at 2308 level

NCDEX accredited warehouses guar stocks fell by 801 tonnes to 24834 tonnes.

In Jodhpur guar prices gained 4 rupees to end at 2,315 rupees per 100 kg.

SELL GUAR MAY @ 2325-2330 SL 2348 TGT 2306-2285.NCDEX