Guar yesterday we have seen that market has moved -2.44% on the heels of fresh arrivals in Haryana and Rajasthan coupled with strong production estimates of the current year. As per market sources, fresh arrivals of around 1500-2000 bags were reported in Ganaganagar mandi. Prices were also discouraged by strong production estimates of guar in the current year. As per trade sources, the total production of guar is likely to be around 1.25 crore bags in the current year against 35 lakh bags reported last year. In Jodhpur guar prices dropped -39.15 rupees to 1957.7 rupees per 100 kg. Market has opened at 1996 & made a low of 1952 versus the day high of 2000. The total volume for the day was at 157760 lots and the open interest was at 123070.Now support for the guar is seen at 1941 and below could see a test of 1922. Resistance is now likely to be seen at 1989, a move above could see prices testing 2018.

Trading Ideas:

Guar trading range is 1922-2018.

Guar settled weak on the heels of fresh arrivals in Haryana and Rajasthan

Guar is taking resistance at 1989 and support is seen at 1941.

NCDEX accredited warehouses guar stocks rose 476 tonnes to 23206 tonnes.

In Jodhpur guar prices dropped -39.15 rupees to 1957.7 rupees per 100 kg.