Guar ended marginally up on some buying by stockists and on improved demand of churi and korma, by-products of guar seed. In the Jodhpur spot market, guar edged up 4 rupees to end at 2,319 rupees per 100 kg. Guar yesterday we have seen that market has moved 0.13%. Market has opened at 2327 & made a low of 2297 versus the day high of 2333. The total volume for the day was at 243090 lots and the open interest was at 168410.Now support for the guar is seen at 2302 and below could see a test of 2281. Resistance is now likely to be seen at 2338, a move above could see prices testing 2353.

Trading Ideas:

Guar trading range is 2281-2353.

Guar ended marginally up on some buying by stockists

Guar is getting resistance at 2338 and support is at 2302 level

NCDEX accredited warehouses guar stocks fell by 169 tonnes to 24665 tonnes.

In Jodhpur guar prices gained 4 rupees to end at 2,319 rupees per 100 kg.

SELL GUAR MAY @ 2330-335 SL 2354 TGT 2316-2292.NCDEX