Guar yesterday we have seen that market has moved -0.87% as hopes of higher output aided by an expansion in acreage and good rains hurt sentiments. Acreage in guar seed is up 10 percent in top producer Rajasthan, which accounts of 80 percent of the country's output of the crop, boosting hopes of higher output this year. In Jodhpur guar prices dropped -36.7 rupees to 2047.8 rupees per 100 kg. Market has opened at 2060 & made a low of 2035 versus the day high of 2072. The total volume for the day was at 264470 lots and the open interest was at 159730.Now support for the guar is seen at 2031 and below could see a test of 2014. Resistance is now likely to be seen at 2068, a move above could see prices testing 2088.

Trading Ideas:

Guar trading range is 2013-2087.

Guar ended lower due to hopes of higher output aided by an expansion in acreage

Guar is getting resistance at 2068 and support is at 2031 level

NCDEX accredited warehouses guar stocks fell 2 tonnes to 21161 tonnes.

In Jodhpur guar prices dropped -36.7 rupees to 2047.8 rupees per 100 kg.