Guar yesterday we have seen that market has moved 0.87% as good demand for guar gum and a squeeze in supplies prompted bargain hunting, though higher area under guar seed in top producer Rajasthan capped the gains. Demand for guar gum is good and is supporting buying. In the Jodhpur spot market, guar fell 6.10 rupees to end at 2,155.55 rupees per 100 kg.

Market has opened at 2185 & made a low of 2183 versus the day high of 2210. The total volume for the day was at 170710 lots and the open interest was at 173130.Now support for the guar is seen at 2191 and below could see a test of 2173. Resistance is now likely to be seen at 2218, a move above could see prices testing 2227.

Trading Ideas:

Guar trading range is 2173-2227.

Guar ended positive as good demand and squeeze in supplies supported prices

Guar is getting resistance at 2218 and support is at 2191 level

NCDEX accredited warehouses guar stocks rose by 9 tonnes 21948 tonnes.

In Jodhpur guar prices fell by 6.10 rupees and settled at 2155.55 rupees per 100 kg.