Guar yesterday we have seen that market has moved 1.25% due to declining arrivals amid good demand from millers and stockists on a pick-up in export enquiries. Arrivals are falling day by day in the spot markets. Fresh enquiries are seen from exporters and likely to gain pace in coming days. The total daily arrivals of guar seed have reduced to 25000 bags against 45-50K bags reported from the last one week. However, expect estimates of higher production due to increased area to weigh on prices at higher levels. In Jodhpur guar prices gained 50.9 rupees to 2558.25 rupees per 100 kg. Now support for the guar is seen at 2642 and below could see a test of 2619. Resistance is now likely to be seen at 2685, a move above could see prices testing 2705.

Trading Ideas:

Guar trading range is 2620-2706.

Guar ended higher due to declining arrivals amid good demand from millers.

Guar is taking resistance at 2685 and support is seen at 2642.

NCDEX accredited warehouses guar stocks rose 530 tonnes to 80672 tonnes.

In Jodhpur guar prices gained 50.9 rupees to 2558.25 rupees per 100 kg.