Guar climbed yesterday bolstered by thin arrivals in physical market, estimate of a drop in the output. Demand is good in physical market. But traders are now focusing on monsoon forecast. In the Jodhpur spot market, guar seed rose by 27 rupees to 2,477 rupees per 100 kg. Guar yesterday we have seen that market has moved 1.65%. Market has opened at 2510 & made a low of 2491 versus the day high of 2579. The total volume for the day was at 423450 lots and the open interest was at 180070.Now support for the guar is seen at 2496 and below could see a test of 2450. Resistance is now likely to be seen at 2584, a move above could see prices testing 2626.

Trading Ideas:

Guar trading range is 2450-2626.

Guar climbed yesterday bolstered by thin arrivals in physical market

Guar is getting resistance at 2568 and support is at 2522 level

NCDEX accredited warehouses guar stocks rose by 1042 tonnes to 19243 tonnes.

BUY GUAR MAY ON DIP @ 2510-2520 SL 2495 TGT 2545-2570.NCDEX

In Jodhpur guar prices rose by 27 rupees to 2,477 rupees per 100 kg.