Guar seed yesterday we have seen that market has moved in the range and closed flat to weak by -0.07% that closed down by Rs.2/- demand is not picking up in the market as trader are in the view that there is been sufficient stocks and this will weighed down demand in the physical market, also lack of export demand and the stock of guar gum is very high for this year. In Jodhpur, a major trading hub, guar seed price inched up 4 rupees to 2,412 rupees per 100 kg. Warehouses, stock of guar seed stood at 31,773 tonnes and guar gum at 39,537 tonnes, as on Feb. 6, data on the exchange website showed. Yesterday market has opened at 2420 & made a low of 2387 versus the day high of 2429. The total volume for the day was at 81780 lots and the open interest was at 116510. Now support for the guar is seen at 2388 and below could see a test of 2366. Resistance is now likely to be seen at 2430, a move above could see prices testing 2450.

Trading Ideas:

Guar trading range is 2366-2450.

Guar traded in the range and closed flat as demand is not picking up in spot.

Sufficient stocks & low demand from domestic and international market.

The total volume for the day was at 81780 lots and the open interest was at 116510.

BUY GUAR FEB @ 2400-2410 SL 2380 TGT 2422-2438-2456.NCDEX

In Jodhpur spot prices of guar seed closed flat to and closed up by 8 rupees to 2,416 rupees per 100 kg.