Guar yesterday we have seen that market has moved 2.91% on market talk area under guar may not rise this year due to a fall in prices. In physical market stockists are buying anticipating acreage will not rise this year. They think farmers are likely to increase acreage under cotton. In the Jodhpur spot market in Rajasthan, guar seed jumped by 57 rupees to 2,321 rupees per 100 kg. Market has opened at 2344 & made a low of 2344 versus the day high of 2423. The total volume for the day was at 440540 lots and the open interest was at 169790.Now support for the guar is seen at 2359 and below could see a test of 2312. Resistance is now likely to be seen at 2438, a move above could see prices testing 2470.

Trading Ideas:

Guar trading range is 2312-2470.

Guar ended higher on market talk area under guar may not rise this year

Guar is getting resistance at 2438 and support is at 2382 level

NCDEX accredited warehouses guar stocks rose by 296 tonnes to 13418 tonnes.

SELL GUAR AUG BELOW 2390 SL 2410 TGT 2372-2356.NCDEX

In Jodhpur guar prices gained by 57 rupees and settled at 2,321 rupees per 100 kg.