Guar yesterday we have seen that market has moved -3.02% on weak spot market sentiment, traders preferred to reduced their holdings.  Increased arrivals and reduced offtake in physical markets also weighed on prices. Weather is favourable for the growth of the crop. Output is expected to be more than last year. In the Jodhpur spot market, guar seed fell 48 rupees to end at 2,179 rupees per 100 kg. Market has opened at 2277 & made a low of 2208 versus the day high of 2277. The total volume for the day was at 380440 lots and the open interest was at 160940.Now support for the guar is seen at 2189 and below could see a test of 2164. Resistance is now likely to be seen at 2258, a move above could see prices testing 2302.

Trading Ideas:

Guar trading range is 2165-2303.

Guar yesterday ended lower on weak spot market sentiment

Guar is getting resistance at 2238 and support is at 2189 level

NCDEX accredited warehouses guar stocks rose by 89 tonnes 21969 tonnes.

In Jodhpur guar prices fell by 48 rupees and settled at 2179 rupees per 100 kg.