Guar yesterday we have seen that market has moved 0.98% on bargain-hunting while poor spot supplies and good demand for guar gum supported gains. Rajasthan accounts for about 80 percent of India's guar acreage followed by 11 percent in Haryana. In Rajasthan, farmers have completed guar sowing on 2.479 million hectares as on August 4, against 1.448 million hectares during the same period last year. In Jodhpur guar prices gained 1 rupee to 2131.9 rupees per 100 kg. Market has opened at 2148 & made a low of 2143 versus the day high of 2187. The total volume for the day was at 272820 lots and the open interest was at 178880. Now support for the guar is seen at 2149 and below could see a test of 2124. Resistance is now likely to be seen at 2193, a move above could see prices testing 2212.

Trading Ideas:

Guar trading range is 2125-2213.

Guar yesterday ended positive on bargain-hunting

Guar is getting resistance at 2193 and support is at 2149 level

NCDEX accredited warehouses guar stocks fell by 1003 tonnes 21194 tonnes.

In Jodhpur guar prices dropped 0 rupees to 2131.9 rupees per 100 kg.