Guar yesterday we have seen that market has moved 0.36% due to short-covering after they touched fresh lows in early trades. Output is much higher than previous year's due to good monsoon this year. In the Bikaner spot market, guar seed fell 23 rupees to 1,910 rupees per 100 kg. In Jodhpur guar prices dropped -9.7 rupees to 1948 rupees per 100 kg. Market has opened at 1950 & made a low of 1938 versus the day high of 1980. The total volume for the day was at 144880 lots and the open interest was at 96990.Now support for the guar is seen at 1943 and below could see a test of 1919. Resistance is now likely to be seen at 1985, a move above could see prices testing 2003.

Trading Ideas:

Guar trading range is 1919-2003.

Guar settled firm due to short-covering after they touched fresh lows

Guar is taking resistance at 1985 and support is seen at 1943.

NCDEX accredited warehouses guar stocks rose 1068 tonnes to 24274 tonnes.

In Jodhpur guar prices dropped -9.7 rupees to 1948 rupees per 100 kg.