Guar yesterday we have seen that market has moved 0.25% in the wake of rising demand of guargum millers and exporters at lower levels along with receding arrivals at spot market.  The daily arrivals of around 1000-1500 bags were reported in physical markets due to restricted selling by stockiest. In the Jodhpur spot market, guar seed gained 7 rupees to end at 2,319 rupees per 100 kg. Market has opened at 2385 & made a low of 2370 versus the day high of 2401. The total volume for the day was at 239420 lots and the open interest was at 165190.Now support for the guar is seen at 2366 and below could see a test of 2353. Resistance is now likely to be seen at 2397, a move above could see prices testing 2415.

Trading Ideas:

Guar trading range is 2353-2415.

Guar ended positive in the wake of rising demand of guar gum millers

Guar is getting resistance at 2397 and support is at 2366 level

NCDEX accredited warehouses guar stocks rose by 697 tonnes to 19089 tonnes.

In Jodhpur guar prices gained by 7 rupees and settled at 2319 rupees per 100 kg.