Guar yesterday we have seen that market has moved 1.41% supported by exporter demand for guar gum and lower supplies in the spot market. However, higher sowing by farmers in key producer Rajasthan, weighed on sentiment. In the Jodhpur spot market, guar gained 29 rupees to end at 2,246 rupees per 100 kg. Market has opened at 2277 & made a low of 2277 versus the day high of 2318. The total volume for the day was at 246250 lots and the open interest was at 139580.Now support for the guar is seen at 2279 and below could see a test of 2258. Resistance is now likely to be seen at 2320, a move above could see prices testing 2340.

Trading Ideas:

Guar trading range is 2258-2340.

Guar settled positive supported by exporter demand

Guar is getting resistance at 2320 and support is at 2272 level

NCDEX accredited warehouses guar stocks remained at 21475 tonnes.

In Jodhpur guar prices gained by 29 rupees and settled at 2246 rupees per 100 kg.