Guar yesterday we have seen that market has moved 2.01% supported by good export demand though, the commodity witnessed some drubbing due to increased arrivals and fall in demand. But the rising exports amidst reports of slight fall in production is supporting the prices. Export enquiries are supporting prices and are likely to increase further in the coming days. In Jodhpur guar prices dropped -1.4 rupees to 2425.25 rupees per 100 kg. Market has opened at 2431 & made a low of 2409 versus the day high of 2508. The total volume for the day was at 162890 lots and the open interest was at 60400. Now support for the guar is seen at 2431 and below could see a test of 2370. Resistance is now likely to be seen at 2530, a move above could see prices testing 2568.

Trading Ideas:

Guar trading range is 2368-2566.

Guar ended higher supported by good export demand

Guar is taking resistance at 2518 and support is seen at 2478.

NCDEX accredited warehouses guar stocks rose 608 tonnes to 40257 tonnes.

In Jodhpur guar prices dropped -1.4 rupees to 2425.25 rupees per 100 kg.