Guar ended over 2 percent on account of short-covering after prices fell 7 percent in the last 13 sessions and on estimates of lower crop. In the Bikaner spot market, the price scaled up 37 rupees to 2664.45 rupees per 100 kg. Lower area and poor yields due to patchy rains are estimated to have cut guar seed output by over 80 percent to produce 241,000 tonnes.

Guar yesterday we have seen that market has moved 2.27%. Market has opened at 2698 & made a low of 2693 versus the day high of 2754. The total volume for the day was at 439020 lots and the open interest was at 225680. Now support for the guar is seen at 2711 and below could see a test of 2672. Resistance is now likely to be seen at 2772, a move above could see prices testing
2794.

Trading Ideas:

GUAR TRADING RANGE IS 2700-2800.

GUAR ENDED OVER 2 PERCENT ON ACCOUNT OF SHORT-COVERING

BUY GUAR JAN @ 2720-2730 SL 2698 TGT 2748-2762-2780. NCDEX

SUPPORT FOR GUAR IS AT 2736 AND RESIST IS AT 2772.

IN BIKANER PRICES ROSE OVER 37 RUPEES AND ENDED AT 2664.45 RUPEES PER 100 KG.