Guar yesterday we have seen that market has moved -0.6% suffering some profit booking as the commodity prices hit record high in last week, on the back of improved export demand amidst reports of delayed arrivals and slight fall in production expectations due to the off seasonal rains in the growing areas. Lucrative demand is witnessed in Guar & Guar Gum in the overseas market. Output is likely to be 20% less than the expected output.  Pakistan has negligible crop this year. In Jodhpur guar prices dropped -4.3 rupees to 2708.05 rupees per 100 kg. Market has opened at 2811 & made a low of 2777 versus the day high of 2828. The total volume for the day was at 220920 lots and the open interest was at 201520.Now support for the guar is seen at 2771 and below could see a test of 2749. Resistance is now likely to be seen at 2822, a move above could see prices testing 2851.

Trading Ideas:

Guar trading range is 2749-2851.

Guar yesterday ended weaksuffering some profit booking

Guar is taking resistance at 2822 and support is seen at 2771.

NCDEX accredited warehouses guar stocks rose 81 tonnes to 86566 tonnes.

In Jodhpur guar prices dropped -4.3 rupees to 2708.05 rupees per 100 kg.