Guar yesterday we have seen that market has moved -0.14% as traders liquidated their long positions on the heels of fresh arrivals in Haryana and Rajasthan coupled with strong production estimates of the current year. Fresh arrivals of around 25000-30000 bags were reported in Ganaganagar mandi. The total production of guar seed is likely to be around 1.25 crore bags in the current year against 35 lakh bags reported last year. In Jodhpur guar prices gained 1.15 rupees to 2057.25 rupees per 100 kg. Market has opened at 2137 & made a low of 2118 versus the day high of 2147. The total volume for the day was at 133100 lots and the open interest was at 155420.Now support for the guar is seen at 2118 and below could see a test of 2103. Resistance is now likely to be seen at 2147, a move above could see prices testing 2161.

Trading Ideas:

Guar trading range is 2103-2161.

Guar settled down as traders liquidated their on the heels of fresh arrivals

Guar is taking resistance at 2148 and support is seen at 2118.

The total production of guar seed is likely to be around 1.25 crore bags in the current year

In Jodhpur guar prices gained 1.15 rupees to 2057.25 rupees per 100 kg.