Guar ended nearly 3 percent higher on some buying enquiries from millers and exporters on hopes of improved demand. Demand has marginally improved from millers, which is supporting prices. Selling pressure from stockists has also reduced. In the Jodhpur spot market, guar climbed 44 rupees to end at 2,335 rupees per 100 kg. Guar yesterday we have seen that market has moved 2.99%. Market has opened at 2310 & made a low of 2310 versus the day high of 2375. The total volume for the day was at 275730 lots and the open interest was at 175880.Now support for the guar is seen at 2331 and below could see a test of 2288. Resistance is now likely to be seen at 2396, a move above could see prices testing 2418.

Trading Ideas:

Guar trading range is 2287-2417.

Guar ended higher on some buying enquiries from millers and exporters

Guar is getting resistance at 2396 and support is at 2358 level

NCDEX accredited warehouses guar stocks fell by 59 tonnes to 27852 tonnes.

In Jodhpur guar prices rose over 44 rupees to end at 2,335 rupees per 100 kg

SELL GUAR APR @ 2380 SL 2402 TGT 2362-2348-2322. NCDEX