Guar yesterday we have seen that market has moved -1.21% on rising fresh arrivals and higher output estimates. Demand slows down at higher levels due to increased production. But prices are unlikely to fall sharply because there is good demand for guar gum. In Jodhpur guar prices dropped -28.7 rupees to 2396.55 rupees per 100 kg. Market has opened at 2503 & made a low of 2446 versus the day high of 2515. The total volume for the day was at 72500 lots and the open interest was at 51360.Now support for the guar is seen at 2428 and below could see a test of 2403. Resistance is now likely to be seen at 2497, a move above could see prices testing 2541.

Trading Ideas:

Guar trading range is 2404-2542.

Guar ended lower on rising fresh arrivals and higher output estimates

Guar is taking resistance at 2472 and support is seen at 2428.

NCDEX accredited warehouses guar stocks rose 727 tonnes to 40984 tonnes.

In Jodhpur guar prices dropped -28.7 rupees to 2396.55 rupees per 100 kg.