Guar yesterday we have seen that market has moved 1.26% on concerns about the monsoon, good demand for guar gum and poor supplies. Patchy rains may hamper guar sowing. Lower rains in the major cultivating regions are supporting buying. In the Jodhpur spot market, guar gained 27 rupees to end at 2,416 rupees per 100 kg. Market has opened at 2520 & made a low of 2502 versus the day high of 2583. The total volume for the day was at 473530 lots and the open interest was at 186540.Now support for the guar is seen at 2520 and below could see a test of 2470. Resistance is now likely to be seen at 2601, a move above could see prices testing 2632.

Trading Ideas:

Guar trading range is 2470-2632.

Guar ended positive on concerns about the monsoon and good demand

Guar is getting resistance at 2584 and support is at 2542 level

NCDEX accredited warehouses guar stocks rose by 219 tonnes to 14587 tonnes.

In Jodhpur guar prices gained by 27 rupees and settled at 2,416 rupees per 100 kg.