Guar yesterday we have seen that market has moved 0.64% on robust demand despite higher arrivals. Yesterday 10,000 tonne guar seed arrived in markets, up from 8,000 tonne previously. NCDEX raised special margin on all long-side guar and guar seed contracts to 20 percent from 10 percent, effective Monday. In Jodhpur guar prices gained 15.75 rupees to 2296.5 rupees per 100 kg. Market has opened at 2345 & made a low of 2328 versus the day high of 2373. The total volume for the day was at 60020 lots and the open interest was at 34100.Now support for the guar is seen at 2339 and below could see a test of 2311. Resistance is now likely to be seen at 2384, a move above could see prices testing 2401.

Trading Ideas:

Guar trading range is 2308-2398.

Guar ended positive on robust demand despite higher arrivals

Guar is taking resistance at 2384 and support is seen at 2340.

NCDEX accredited warehouses guar stocks rose 850 tonnes to 43665 tonnes.

In Jodhpur guar prices gained 15.75 rupees to 2296.5 rupees per 100 kg.