Guar ended higher in volatile trade on short-covering, though weak overseas demand for guar gum and sufficient stocks at home capped the gains. In the Jodhpur spot market, guar price dropped 18 rupees to 2,321 rupees per 100 kg. In NCDEX accredited warehouses stock of guar rose by 137 tonnes to 33,267 tonnes as on Jan. 25. Guar yesterday we have seen that market has moved 0.96%. Market has opened at 2275 & made a low of 2254 versus the day high of 2334. The total volume for the day was at 403080 lots and the open interest was at 193740.Now support for the guar is seen at 2266 and below could see a test of 2220. Resistance is now likely to be seen at 2346, a move above could see prices testing 2380.

Trading Ideas:

Guar trading range is 2270-2360.

Guar ended higher on short-covering but weak overseas demand limited the gains

Guar is taking support at 2294 and resistance at 2328 level.

In NCDEX accredited warehouses stock of guar rose by 137 tonnes to 33,267 tonnes

In Jodhpur prices dropped 18 rupees to 2,321 rupees per 100 kg

BUY GUAR FEB @ 2290-2305 SL 2268 TGT 2326-2350-2375.NCDEX