Guar yesterday we have seen that market has moved -0.88% tracking subdued trade in spot, where demand was poor owing to estimates of higher output as farmers expanded area. Subdued demand for churi, one of the byproducts of guar seed processing used as cattle feed, due to sufficient availability of green grass, also weighed. In Jodhpur guar prices dropped -20.55 rupees to 2084.5 rupees per 100 kg. Market has opened at 2178 & made a low of 2092 versus the day high of 2187. The total volume for the day was at 588080 lots and the open interest was at 186920.Now support for the guar is seen at 2099 and below could see a test of 2048. Resistance is now likely to be seen at 2194, a move above could see prices testing 2238.

Trading Ideas:

Guar trading range is 2049-2239.

Guar settled weak tracking subdued trade in spot

Guar is getting resistance at 2168 and support is at 2132 level

NCDEX accredited warehouses guar stocks fell 19 tonnes to 19830 tonnes.

In Jodhpur guar prices dropped -20.55 rupees to 2084.5 rupees per 100 kg.