Guar yesterday we have seen that market has moved 1.19% on bargain buying, supported by tight supplies in spot and inquiries from exporters for guar gum. Exporters are very active in the market. Last year's drought has pulled down guar seed output in Rajasthan, the top producing state in the country, by over 80 percent, resulting in a supply shortage. In Jodhpur guar prices gained 20.55 rupees to 2091.6 rupees per 100 kg. Market has opened at 2094 & made a low of 2094 versus the day high of 2135. The total volume for the day was at 110080 lots and the open interest was at 106870.Now support for the guar is seen at 2102 and below could see a test of 2077. Resistance is now likely to be seen at 2143, a move above could see prices testing 2159.

Trading Ideas:

Guar trading range is 2077-2159.

Guar settled positive on bargain buying supported by tight supplies in spot

Guar is getting resistance at 2143 and support is at 2102 level

Last year's drought has pulled down guar seed output in Rajasthan

In Jodhpur guar prices gained 20.55 rupees to 2091.6 rupees per 100 kg.