Guar yesterday we have seen that market has moved -1.31% on profit booking after prices rose in last some days. But the pickup in exports amid delayed arrivals and some expectations of fall in production limited the losses. Traders are anticipating the total exports of around 2.50-2.6 lakh tonnes of guargum in the current season, up 14-15% from the last year. In Jodhpur guar prices gained 15.8 rupees to 2341.9 rupees per 100 kg. Market has opened at 2430 & made a low of 2393 versus the day high of 2435. The total volume for the day was at 203920 lots and the open interest was at 162720.Now support for the guar is seen at 2390 and below could see a test of 2370. Resistance is now likely to be seen at 2432, a move above could see prices testing 2454.

Trading Ideas:

Guar trading range is 2370-2454.

Guar yesterday settled weak on profit booking on Saturday

Guar is taking resistance at 2432 and support is seen at 2390.

NCDEX accredited warehouses guar stocks rose 80 tonnes to 34364 tonnes.

In Jodhpur guar prices gained 15.8 rupees to 2341.9 rupees per 100 kg.