Guar yesterday we have seen that market has moved 1.07% on bargain-buying and a squeeze in supplies in the spot though prospects of higher output due to expanded area and good rainfall capped gains. Some demand has come at lower levels but that is very marginal. Market is waiting for some fresh triggers. In Jodhpur guar prices dropped -0.65 rupees to 1949.15 rupees per 100 kg. Market has opened at 1960 & made a low of 1948 versus the day high of 1995. The total volume for the day was at 247770 lots and the open interest was at 189040. Now support for the guar is seen at 1958 and below could see a test of 1929. Resistance is now likely to be seen at 2005, a move above could see prices testing 2023.

Trading Ideas:

Guar trading range is 1929-2023.

Guar settled positive on bargain-buying and a squeeze in supplies in spot

NCDEX accredited warehouses rose stocks rose 146 tonnes to 20135 tonnes.