Guar yesterday we have seen that market has moved 0.63% on good demand from exporters and stockists, while a declining arrivals also supported the upside. Demand is very good from exporters. Daily arrivals have fallen to 40,000-45,000 bags of 100 kg each against 50,000 bags. Traders have reduced the crop estimates of the current year from 1.10-1.20 crore bags to around 70-75 lakh bags as erratic monsoon reduced the productivity of the crop. Therefore, strong stockiest and traders off take in physical market incited the buying in guar seed. In Jodhpur guar prices gained 28 rupees to 2773.95 rupees per 100 kg. Market has opened at 2845 & made a low of 2840 versus the day high of 2888. The total volume for the day was at 167740 lots and the open interest was at 131770.Now support for the guar is seen at 2834 and below could see a test of 2813. Resistance is now likely to be seen at 2882, a move above could see prices testing 2909.

Trading Ideas:

Guar trading range is 2812-2908.

Guar ended positive on good demand from exporters and stockists

Guar is taking resistance at 2882 and support is seen at 2834.

NCDEX accredited warehouses guar stocks rose 570 tonnes to 89610 tonnes.

BUY GUAR FEB @ 2820-2830 SL 2792 TGT 2854-2875-2892.NCDEX

In Jodhpur guar prices gained 28 rupees to 2773.95 rupees per 100 kg.