Guar yesterday we have seen that market has moved 0.38% on good demand for guar gum from exporters and weak arrivals. Expectation of some weakness in the initial phase of monsoon due to cyclone Laila and good exports are supporting guar prices. In the Jodhpur spot market, guar gained 27 rupees to end at 2,389 rupees per 100 kg. Market has opened at 2397 & made a low of 2388 versus the day high of 2427. The total volume for the day was at 202320 lots and the open interest was at 154330.Now support for the guar is seen at 2382 and below could see a test of 2365. Resistance is now likely to be seen at 2421, a move above could see prices testing 2443.

Trading Ideas:

Guar trading range is 2366-2444.

Guar ended positive on good demand and weak arrivals

Guar is getting resistance at 2421 and support is at 2382 level

Yesterday we have seen that open interest fell by 4200 and volume rose by 33410

In Jodhpur guar prices gained by 27 and settled at 2,389 rupees per 100 kg.

BUY GUAR JUNE @ 2380 SL 2360 TGT 2400-2418.NCDEX