Guar yesterday we have seen that market has moved -1.03% on the back of slow demand amidst increased arrivals, clearer sky in Rajasthan has increased the possibility of more supply and arrivals from Jodhpur and Bikaner are keeping some pressure on the rates though rising export demand is likely to limit the downside. In Jodhpur guar prices dropped -46.05 rupees to 2389.95 rupees per 100 kg. Market has opened at 2502 & made a low of 2471 versus the day high of 2512. The total volume for the day was at 272440 lots and the open interest was at 138250. Now support for the guar is seen at 2471 and below could see a test of 2451. Resistance is now likely to be seen at
2512, a move above could see prices testing 2533.

Trading Ideas:

Guar trading range is 2449-2531.

Guar ended lower due to slow demand amidst increased arrivals

Guar is taking resistance at 2512 and support is seen at 2471.

NCDEX accredited warehouses guar stocks rose 220 tonnes to 36042 tonnes.

In Jodhpur guar prices dropped -46.05 rupees to 2389.95 rupees per 100 kg.