Guar yesterday we have seen that market has moved 1.39% on bargain buying, supported by hopes of likely delay in fresh arrivals due to late sowing, and thin supplies. The fresh arrivals of guarseed crop have already been delayed by almost 15 days in Haryana and Rajasthan. Moreover, prices were also guided by poor stockiest selling at current levels. Traders mentioned that waning carryover stocks of around 11 lakh bags in the current year have reduced the stockiest liquidation at lower levels. In Jodhpur guar prices gained 26.45 rupees to 1998.75 rupees per 100 kg. Market has opened at 2003 & made a low of 2003 versus the day high of 2049. The total volume for the day was at 177940 lots and the open interest was at 187960.Now support for the guar is seen at 2011 and below could see a test of 1984. Resistance is now likely to be seen at 2057, a move above could see prices testing 2076.

Trading Ideas:

Guar trading range is 1984-2076.

Guar settled positive on bargain buying, supported by hopes of likely delay in fresh arrivals

Guar is taking resistance at 2057 and support is seen at 2011.

Fresh arrivals of guar crop have already been delayed by almost 15 days

In Jodhpur guar prices gained 26.45 rupees to 1998.75 rupees per 100 kg.