Guar yesterday we have seen that market has moved 0.23% on reducing arrivals in spot amid good demand from millers and stockists while fresh export enquiries for guar gum also aided the sentiment. Major demand is coming from U.S. for oil and gas sector. Estimates of higher production due to increased area, however, capped the gains. In Jodhpur guar prices gained 3.8 rupees to 2562.05 rupees per 100 kg. Market has opened at 2670 & made a low of 2647 versus the day high of 2686. The total volume for the day was at 187630 lots and the open interest was at 205390.Now support for the guar is seen at 2650 and below could see a test of 2629. Resistance is now likely to be seen at 2689, a move above could see prices testing 2707.

Trading Ideas:

Guar trading range is 2629-2707.

Guar gained on reducing arrivals in spot amid good demand from millers and stockists

Guar is taking resistance at 2689 and support is seen at 2650.

NCDEX accredited warehouses guar stocks rose 1071 tonnes to 81743 tonnes.

In Jodhpur guar prices gained 3.8 rupees to 2562.05 rupees per 100 kg.

BUY GUAR FEB @ 2655 SL 2628 TGT 2672-2695.NCDEX