Guar yesterday we have seen that market has moved -0.1% on weak demand amid slightly lower arrivals due to late sowing and thin supplies, offsetting estimates of higher production. Friday, 4 tonne of guar seed and 20 tonnes of guar gum arrived. Thursday, 6 tonnes of guar seed arrived. In Jodhpur guar prices dropped -9.2 rupees to 2002.9 rupees per 100 kg. Market has opened at 2055 & made a low of 2046 versus the day high of 2074. The total volume for the day was at 128750 lots and the open interest was at 179830.Now support for the guar is seen at 2047 and below could see a test of 2033. Resistance is now likely to be seen at 2075, a move above could see prices testing 2089.

Trading Ideas:

Guar trading range is 2033-2089.

Guar settled flat on weak demand amid slightly lower arrivals

Guar is taking resistance at 2075 and support is seen at 2047.

NCDEX accredited warehouses guar stocks rose 287 tonnes to 21054 tonnes.

In Jodhpur guar prices dropped -9.2 rupees to 2002.9 rupees per 100 kg.