Guar yesterday we have seen that market has moved 0.8% as poor supplies in spot and inquiries from exporters for guar gum offset prospects of higher supplies. Good demand for guar gum supported recovery in guar prices. Exporters are very active in spot on hopes of higher exports. In Jodhpur guar prices gained 13.45 rupees to 2105.05 rupees per 100 kg. Market has opened at 2125 & made a low of 2107 versus the day high of 2149. The total volume for the day was at 149970 lots and the open interest was at 93920. Now support for the guar is seen at 2118 and below could see a test of 2091. Resistance is now likely to be seen at 2160, a move above could see prices testing 2175.

Trading Ideas:

Guar trading range is 2091-2175.

Guar settled positive on poor supplies in spot and inquiries from exporters

Guar is getting resistance at 2160 and support is at 2118 level

Good demand for guar gum supported recovery in guar prices.

In Jodhpur guar prices gained 13.45 rupees to 2105.05 rupees per 100 kg.