Guar yesterday we have seen that market has moved 0.44% as good demand for guar gum and a squeeze in supplies prompted bargain hunting, though higher area under guar seed in top producer Rajasthan capped the gains. Demand for guar gum is good and is supporting buying. In the Jodhpur spot market, guar gained 12 rupees to end at 2,226 rupees per 100 kg. Market has opened at 2285 & made a low of 2266 versus the day high of 2295. The total volume for the day was at 207530 lots and the open interest was at 153880.Now support for the guar is seen at 2269 and below could see a test of 2253. Resistance is now likely to be seen at 2298, a move above could see prices testing 2311.

Trading Ideas:

Guar trading range is 2252-2310.

Guar ended positive as good demand and squeeze in supplies supported prices

Guar is getting resistance at 2298 and support is at 2269 level

NCDEX accredited warehouses guar stocks rose by 198 tonnes 21880 tonnes.

In Jodhpur guar prices gained by 12 rupees and settled at 2226 rupees per 100 kg.