Guar yesterday we have seen that market has moved 2.35% supported by demand for guar gum from overseas and restricted supplies in the spot markets. The demand for guar gum from U.S. for oil drilling applications has gone up. In the Jodhpur spot market, guar seed gained 35 rupees to end at 2,203 rupees per 100 kg. Market has opened at 2216 & made a low of 2215 versus the day high of 2268. The total volume for the day was at 213640 lots and the open interest was at 133550.Now support for the guar is seen at 2229 and below could see a test of 2195. Resistance is now likely to be seen at 2282, a move above could see prices testing 2301.

Trading Ideas:

Guar trading range is 2195-2301.
Guar yesterday ended higher supported by restricted supplies in spot markets
Guar is getting resistance at 2282 and support is at 2242 level
NCDEX accredited warehouses guar stocks dropped 2 tonnes to 10894 tonnes.
BUY GUAR JULY @ 2245-2255 SL 2228 TGT 2275-2295.NCDEX
In Jodhpur guar prices rose up by 35 rupees and settled at 2,203 rupees per 100 kg.