Guar yesterday we have seen that market has moved 1.81% on robust overseas demand for guar gum, buying from millers and declining arrivals. Advancement in the drilling technology and resurgent economy is boosting demand. Daily arrivals have declined to 30,000-35,000 bags in Rajasthan from around 100,000 bags during the start of the season. In Jodhpur guar prices gained 64.3 rupees to 2889.9 rupees per 100 kg. Market has opened at 2930 & made a low of 2915 versus the day high of 3012. The total volume for the day was at 293300 lots and the open interest was at 171460.Now support for the guar is seen at 2926 and below could see a test of 2872. Resistance is now likely to be seen at 3023, a move above could see prices testing 3066.

Trading Ideas:

Guar trading range is 2873-3067.

Guar ended on robust overseas demand and declining arrivals

Guar is taking resistance at 3023 and support is seen at 2946.

NCDEX accredited warehouses guar stocks rose 18 tonnes to 95397 tonnes.

In Jodhpur guar prices gained 64.3 rupees to 2889.9 rupees per 100 kg.