Guar yesterday we have seen that market has moved -1.26%  weighed by higher sowing in leading producer Rajasthan, good progress of monsoon rains and poor demand for byproduct churi. Hopes of higher output is putting pressure on guar. But prices may get some support at lower levels as demand for guar gum is very good. In the Jodhpur spot market, guar seed fell 31 rupees to end at 2,215 rupees per 100 kg. Market has opened at 2299 & made a low of 2250 versus the day high of 2307. The total volume for the day was at 315110 lots and the open interest was at 154520.Now support for the guar is seen at 2251 and below could see a test of 2222. Resistance is now likely to be seen at 2308, a move above could see prices testing 2336.

Trading Ideas:

Guar trading range is 2220-2334.

Guar yesterday ended weak weighed by higher sowing

Guar is getting resistance at 2308 and support is at 2251 level

NCDEX accredited warehouses guar stocks rose by 207 tonnes 21682 tonnes.

In Jodhpur guar prices fell by 31 rupees and settled at 2215 rupees per 100 kg.