Guar yesterday we have seen that market has moved 0.19% as weak arrivals in major mandies coupled with weak carryover over stocks prompted the strong buying in guar market. The fresh arrivals of around 30000-35000 bags were reported in major mandies against around 50000 bags reported last year in the same period. Moreover, waning carryover stocks of around 10-11 lakh bags against 35-38 lakh bags in the last year have witnessed the stockiest buying at lower levels. In Jodhpur guar prices gained 20.75 rupees to 2084.5 rupees per 100 kg. Market has opened at 2127 & made a low of 2112 versus the day high of 2136. The total volume for the day was at 126620 lots and the open interest was at 123790. Now support for the guar is seen at 2113 and below could see a test of 2101. Resistance is now likely to be seen at 2137, a move above could see prices testing 2149.

Trading Ideas:

Guar trading range is 2101-2149.

Guar ended firm as weak arrivals in major mandies supported prices

Guar is taking resistance at 2137 and support is seen at 2113.

The fresh arrivals of around 30000-35000 bags were reported in major mandies

In Jodhpur guar prices gained 20.75 rupees to 2084.5 rupees per 100 kg.