Guar yesterday we have seen that market has moved 1.22% on low-level buying driven by good demand for guar gum and thin supplies, though expectation of good rains ahead weighed on sentiment. In the Jodhpur spot market, guar gained 23 rupees to end at 2,321 rupees per 100 kg. Planting of guar commences from beginning of June in the irrigated areas, while farmers in non-irrigated areas sow after mid-June. Market has opened at 2379 & made a low of 2363 versus the day high of 2416. The total volume for the day was at 333670 lots and the open interest was at 163800.Now support for the guar is seen at 2374 and below could see a test of 2342. Resistance is now likely to be seen at 2427, a move above could see prices testing 2448.

Trading Ideas:

Guar trading range is 2342-2448.

Guar ended positive on low-level buying driven by good demand

Guar is getting resistance at 2427 and support is at 2374 level

NCDEX accredited warehouses guar stocks rose by 329 tonnes to 17371 tonnes.

In Jodhpur guar prices rose by 23 rupees and settled at 2321 rupees per 100 kg.