Guar yesterday we have seen that market has moved 1.15% due to short-covering and a supply squeeze in the spot market. The severe drought had pulled down guar seed output in Rajasthan by over 80 percent last year, resulting in a supply shortage. In Jodhpur guar prices gained 15.8 rupees to 2005.55 rupees per 100 kg.

Market has opened at 1992 & made a low of 1988 versus the day high of 2038. The total volume for the day was at 329280 lots and the open interest was at 180820. Now support for the guar is seen at 1991 and below could see a test of 1964. Resistance is now likely to be seen at 2041, a move above could see prices testing 2064.

Trading Ideas: Guar trading range is 1964-2064.

Guar settled positive due to short-covering and supply squeeze in spot market

Guar is getting resistance at 2041 and support is at 1991 level

Spread between Guarseed OCT & NOV contracts yesterday traded in the range of 9 to 13.

In Jodhpur guar prices gained 15.8 rupees to 2005.55 rupees per 100 kg.