Guar ended higher as estimates of lower output and thin arrivals in the physical market prompted lower-level buying. In NCDEX accredited warehouses stocks of guar rose by 20 tonnes to 31,040 tonnes as on Jan. 16. In the Jodhpur spot market in Rajasthan, guar price rose 11 rupees to 2,535 rupees per 100 kg.

Guar yesterday we have seen that market has moved 0.55%. Market has opened at 2540 & made a low of 2533 versus the day high of 2577. The total volume for the day was at 254960 lots and the open interest was at 233930. Now support for the guar is seen at 2539 and below could see a test of 2514. Resistance is now likely to be seen at 2583, a move above could see prices testing
2602.

Trading Ideas:

Guar trading range is 2515-2600.

Guar ended higher as estimates of lower output prompted lower-level buying

Guar is taking support at 2539 and resistance at 2583 level.

In Bikaner prices gained by over 12 rupees and settled at 2499.15 rupees per 100 kg.

Demat stock of guar at NCDEX-monitored warehouses rose by 20 tonnes to 31,040 tonnes

BUY GUAR FEB @ 2560-2565 SL 2537 TGT 2580-2598-2615.NCDEX