Guar yesterday we have seen that market has moved -0.52% as the improved arrivals along with profit booking at the higher levels brought some corrections to the prices. Some apprehensions of a fall in productivity due to the off-seasonal rains in the growing areas have supported the prices. Harvesting of the Guar seed crop is almost completed and likely clear weather over Rajasthan in days ahead may support increase arrivals in near term. In Jodhpur guar prices dropped -53.15 rupees to 2350.6 rupees per 100 kg. Market has opened at 2488 & made a low of 2409 versus the day high of 2490. The total volume for the day was at 278910 lots and the open interest was at 133760.Now support for the guar is seen at 2422 and below could see a test of 2375. Resistance is now likely to be seen at 2503, a move above could see prices testing 2537.

Trading Ideas:

Guar trading range is 2375-2537.

Guar ended weak as the improved arrivals along with profit booking

Guar is taking resistance at 2484 and support is seen at 2448.

NCDEX accredited warehouses guar stocks rose 791 tonnes to 37132 tonnes.

In Jodhpur guar prices dropped -53.15 rupees to 2350.6 rupees per 100 kg.