Guar yesterday we have seen that market has moved 0.84% on export demand and poor supplies but monsoon rains and weakening demand for churi and korma weighed. Supplies in the market are very poor. In the Jodhpur spot market, guar seed gained 12 rupees to end at 2,206 rupees per 100 kg. Market has opened at 2256 & made a low of 2248 versus the day high of 2275. The total volume for the day was at 144610 lots and the open interest was at 142360.Now support for the guar is seen at 2253 and below could see a test of 2237. Resistance is now likely to be seen at 2280, a move above could see prices testing 2291.

Trading Ideas:

Guar trading range is 2235-2289.

Guar ended positive on export demand and poor supplies

Guar is getting resistance at 2280 and support is at 2253 level

NCDEX accredited warehouses guar stocks rose 37 tonnes to 11557 tonnes.

SELL GUAR JULY @ 2275-2285 SL 2300 TGT 2256-2232.NCDEX

In Jodhpur guar prices gained by 12 rupees and settled at 2,206 rupees per 100 kg.