Guar yesterday we have seen that market has moved 0.18% on fresh buying by traders. Traders created fresh commitments on the back of firm spot market sentiment, prices gained on short supply and better offtake. Estimates of higher output are putting pressure on prices. Sowing is significantly higher and current weather conditions are also favourable for the growth of the crop. In the Jodhpur spot market, guar seed ended steady at 2,156.35 rupees per 100 kg. Market has opened at 2202 & made a low of 2186 versus the day high of 2220. The total volume for the day was at 230010 lots and the open interest was at 172230. Now support for the guar is seen at 2185 and below could see a test of 2169. Resistance is now likely to be seen at 2219, a move above could see prices testing 2237.

Trading Ideas:

Guar trading range is 2168-2236.

Guar yesterday ended firm on fresh buying by traders

Guar is getting resistance at 2219 and support is at 2185 level

NCDEX accredited warehouses guar stocks rose by 130 tonnes 22078 tonnes.

In Jodhpur guar prices settled steady at 2156.35 rupees per 100 kg.