Guar yesterday we have seen that market has moved -2.09% on higher area under guar in leading producing state of Rajasthan and forecast of more rains, which could further boost acreage. "Acreage will be higher this year as rains were very good. Prices may remain under pressure on hopes of higher output. In the Jodhpur spot market, guar seed gained 8 rupees to end at 2,266 rupees per 100 kg. Market has opened at 2352 & made a low of 2280 versus the day high of 2354. The total volume for the day was at 199540 lots and the open interest was at 108520.Now support for the guar is seen at 2263 and below could see a test of 2235. Resistance is now likely to be seen at 2337, a move above could see prices testing 2383.

Trading Ideas:

Guar trading range is 2235-2383.

Guar ended lower on higher area under guar having forecast of more rains

Guar is getting resistance at 2337 and support is at 2263 level

NCDEX accredited warehouses guar stocks rose by 622 tonnes to 20911 tonnes.

In Jodhpur guar prices gained by 8 rupees and settled at 2266 rupees per 100 kg.