Guar yesterday we have seen that market has moved 4.03% on bargain-hunting prompted by improved spot demand and speculation guar acreage may not rise this year due to a drop in prices. Traders were speculating that guar area may not rise this year as prices have fallen in last two months. In the Jodhpur spot market in Rajasthan, guar seed edged up by 43 rupees to 2,249 rupees per 100 kg. Market has opened at 2259 & made a low of 2253 versus the day high of 2350. The total volume for the day was at 296260 lots and the open interest was at 132490. Now support for the guar is seen at 2285 and below could see a test of 2221. Resistance is now likely to be seen at
2382, a move above could see prices testing 2415.

Trading Ideas:

Guar trading range is 2221-2415.

Guar ended higher on bargain-hunting prompted by improved spot demand

Traders were speculating that guar area may not rise this year

Guar is getting resistance at 2382 and support is at 2322 level

SELL GUAR AUG ON JUMP @ 2380 SL 2405 TGT 2356-2335.NCDEX

In Jodhpur guar prices gained by 43 rupees and settled at 2,249 rupees per 100 kg.