Guar yesterday we have seen that market has settled steady as traders booked profit after prices rose more than 2 percent in as many sessions while encouraging demand for guar gum and poor supplies restricted the downside. Encouraging demand is coming from U.S. and China. In the Jodhpur spot market, guar gained 8 rupees to end at 2,216 rupees per 100 kg. Market has opened at 2276 & made a low of 2259 versus the day high of 2293. The total volume for the day was at 200790 lots and the open interest was at 139360.Now support for the guar is seen at 2254 and below could see a test of 2240. Resistance is now likely to be seen at 2288, a move above could see prices testing 2308.

Trading Ideas:

Guar trading range is 2266-2282.

Guar yesterday settled steady as traders booked intraday profit

Guar is getting resistance at 2288 and support is at 2254 level

NCDEX accredited warehouses guar stocks fell 210 tonnes to 11196 tonnes.

SELL GUAR JULY @ 2280 SL 2300 TGT 2260-2232.NCDEX

In Jodhpur guar prices rose up by 8 rupees and settled at 2,216 rupees per 100 kg.