Guar ended higher on buying interest at low-levels supported by hopes of lower crop and thin arrivals. Millers are buying actively on hopes of sharp recovery in prices. In the Jodhpur spot market, guar price climbed 49 rupees to 2,416 rupees per 100 kg. In NCDEX accredited warehouses, guar stocks dipped by 338 tonnes to 33,220 tonnes as on Feb. 1. Guar yesterday we have seen that market has moved 1.56%. Market has opened at 2368 & made a low of 2353 versus the day high of 2437. The total volume for the day was at 185470 lots and the open interest was at 147350.Now support for the guar is seen at 2360 and below could see a test of 2315. Resistance is now likely to be seen at 2444, a move above could see prices testing 2483.

Trading Ideas:

Guar trading range is 2360-2440.

Guar ended higher on buying interest at low-levels supported by thin arrivals

Guar is taking resistance at 2428 and support at 2388.

NCDEX accredited warehouses guar stocks seen at 33,220 tonnes down by 338 tonnes.

BUY GUAR FEB ABV 2410 SL 2388 TGT 2425-2448-2460.NCDEX

In Jodhpur prices gained by over 49 rupees to 2, 416 rupees per 100 kg