Guar yesterday we have seen that market has moved -1.9% on the back of some supply pressure, the commodity prices witnessed good upmove in last week on increasing export demand and apprehensions of lower production. But with skies likely to remain clear this week, higher arrival pressure in the mandis cannot be ruled out further. The total arrivals of guar were around 70 motors reported. In Jodhpur guar prices gained 13.1 rupees to 2457.1 rupees per 100 kg. Market has opened at 2535 & made a low of 2453 versus the day high of 2574. The total volume for the day was at 232560 lots and the open interest was at 73450.Now support for the guar is seen at 2429 and below could see a test of 2381. Resistance is now likely to be seen at 2550, a move above could see prices testing 2623.

Trading Ideas:

Guar trading range is 2382-2624.

Guar ended lower on the back of some supply pressure and profit booking

Guar is taking resistance at 2512 and support is seen at 2450.

NCDEX accredited warehouses guar stocks fell 1896 tonnes to 38682 tonnes.

In Jodhpur guar prices gained 13.1 rupees to 2457.1 rupees per 100 kg.