Guar yesterday we have seen that market has moved 1.4% on dwindling supplies and expectations recent rains could delay fresh arrivals by a fortnight. A severe drought had pulled down output in Rajasthan, India's biggest producer, by over 80 percent last year, cutting supplies. Fresh arrivals may get late this season on recent rains and delayed sowing by farmers. In Jodhpur guar prices gained 30.6 rupees to 2014.85 rupees per 100 kg. Market has opened at 2010 & made a low of 2009 versus the day high of 2036. The total volume for the day was at 217260 lots and the open interest was at 210000. Now support for the guar is seen at 2012 and below could see a test of 1997. Resistance is now likely to be seen at 2039, a move above could see prices testing 2051.

Trading Ideas:

Guar trading range is 1997-2051.

Guar settled higher on dwindling supplies

Fresh arrivals may get late this season on recent rains and delayed sowing by farmers

Guar is getting resistance at 2039 and support is at 2012 level

In Jodhpur guar prices gained 30.6 rupees to 2014.85 rupees per 100 kg.