Guar yesterday we have seen that market has moved -2.65% due to higher output estimates. Stockists are actively buying gum from the spot market anticipating emergence of fresh export demand in near term. In Jodhpur guar prices gained 11.05 rupees to 2095.55 rupees per 100 kg. Market has opened at 2154 & made a low of 2092 versus the day high of 2162. The total volume for the day was at 332870 lots and the open interest was at 181640.Now support for the guar is seen at 2072 and below could see a test of 2047. Resistance is now likely to be seen at 2142, a move above could see prices testing 2187.

Trading Ideas:

Guar trading range is 2047-2187.

Guar settled lower due to higher output estimates

Guar is getting resistance at 2112 and support is at 2072 level

Spread between Guarseed OCT & NOV contracts yesterday traded in the range of 7 to 16.

In Jodhpur guar prices gained 11.05 rupees to 2095.55 rupees per 100 kg.