Guar yesterday we have seen that market has moved -2.91% as fresh arrivals and higher output offset export demand and lower stocks. Traders prefer to buy at lower levels on apprehensions of further falls due to higher output. In Jodhpur guar prices dropped -41.35 rupees to 2372.9 rupees per 100 kg. Market has opened at 2463 & made a low of 2399 versus the day high of 2468. The total volume for the day was at 176920 lots and the open interest was at 117820.Now support for the guar is seen at 2377 and below could see a test of 2353. Resistance is now likely to be seen at 2446, a move above could see prices testing 2491.

Trading Ideas:

Guar trading range is 2358-2496.

Guar ended lower as fresh arrivals and higher output offset export demand

Guar is taking resistance at 2428 and support is seen at 2372.

NCDEX accredited warehouses guar stocks rose 347 tonnes to 38649 tonnes.

In Jodhpur guar prices dropped -41.35 rupees to 2372.9 rupees per 100 kg.