Guar yesterday we have seen that market has moved -1.65% on the heels of rising arrivals in Haryana and Rajasthan coupled with strong production estimates of the current year.  Fresh arrivals of around 1.25-1.35 lakh bags were reported in major mandies. Prices were also discouraged by strong production estimates of guarseed in the current year. The total production of guarseed is likely to be around 1.25 crore bags in the current year against 35 lakh bags reported last year. In Jodhpur guar prices dropped -30.45 rupees to 2426.65 rupees per 100 kg. Market has opened at 2478 & made a low of 2435 versus the day high of 2499. The total volume for the day was at 106790 lots and the open interest was at 68210.Now support for the guar is seen at 2417 and below could see a test of 2394. Resistance is now likely to be seen at 2481, a move above could see prices testing 2522.

Trading Ideas:

Guar trading range is 2395-2523.

Guar continued weak trend due to rising arrivals in Haryana and Rajasthan

Guar is taking resistance at 2462 and support is seen at 2418.

NCDEX accredited warehouses guar stocks rose 967 tonnes to 39649 tonnes.

In Jodhpur guar prices dropped -30.45 rupees to 2426.65 rupees per 100 kg.