Guar yesterday we have seen that market has moved 0.45% on encouraging demand for guar gum, negligible arrivals and slipping stocks. The hope of a better crop on forecast of normal monsoon that is advancing as expected is weighing on sentiment. In the Jodhpur spot market, guar seed inched up 2 rupees to end at 2,182 rupees per 100 kg. Market has opened at 2231 & made a low of 2221 versus the day high of 2254. The total volume for the day was at 189030 lots and the open interest was at 120770.Now support for the guar is seen at 2222 and below could see a test of 2205. Resistance is now likely to be seen at 2255, a move above could see prices testing 2271.

Trading Ideas:

Guar trading range is 2205-2271.

Guar ended higher on encouraging demand and negligible arrivals

Guar is getting resistance at 2255 and support is at 2222 level

NCDEX accredited warehouses gaur stocks fell 197 tonnes to 10505 tonnes.

SELL GUAR JULY ON JUMP @ 2255-2265 SL 2278 TGT 2234-2220.NCDEX

In Jodhpur guar prices inched up by 2 rupees and settled at 2,182 rupees per 100 kg.