Guar yesterday we have seen that market has moved 1.98% on strong export demand but higher output and arrivals limited the gains. However, the prices may not rally upwards as long as arrivals continue. India is the world's largest producer and exporter of guar gum and supplies 80 percent of the world guar gum demand. In Jodhpur guar prices gained 27.25 rupees to 2111.75 rupees per 100 kg. Market has opened at 2126 & made a low of 2101 versus the day high of 2174. The total volume for the day was at 184570 lots and the open interest was at 118330.Now support for the guar is seen at 2121 and below could see a test of 2075. Resistance is now likely to be seen at 2194, a move above could see prices testing 2221.

Trading Ideas:

Guar trading range is 2075-2221.

Guar ended higher on strong export demand

Guar is taking resistance at 2184 and support is seen at 2142.

NCDEX accredited warehouses guar stocks rose 30 tonnes to 35823 tonnes.

In Jodhpur guar prices gained 27.25 rupees to 2111.75 rupees per 100 kg.