Guar yesterday we have seen that market has moved 0.16% as good demand for guar gum and thin arrivals in physical market offset acceleration of sowing. But the gains were restricted as traders choose to book profit at weekend. Farmers and stockists are not ready to liquidate their stocks at lower levels. In the Jodhpur spot market in Rajasthan, guar seed rose by 62 rupees to 2,369 rupees per 100 kg. Market has opened at 2467 & made a low of 2441 versus the day high of 2488. The total volume for the day was at 330690 lots and the open interest was at 176250.Now support for the guar is seen at 2442 and below could see a test of 2418. Resistance is now likely to be seen at 2489, a move above could see prices testing 2512.

Trading Ideas:

Guar trading range is 2398-2492.

Guar ended higher thin arrivals in physical market offset acceleration of sowing

Guar is getting resistance at 2489 and support is at 2442 level

NCDEX accredited warehouses guar stocks rose by 338 tonnes to 14061 tonnes.

SELL GUAR AUG BELOW 2470 SL 2502 TGT 2454-2432.NCDEX

In Jodhpur guar prices gained by 62 rupees and settled at 2,369 rupees per 100 kg.