Guar yesterday we have seen that market has moved 2.43% as lower stocks, hopes of likely delay in fresh arrivals due to late sowing, and thin supplies prompted buying. In non-irrigated areas, guar seed sowing begins after mid-June, when monsoon rains reach Rajasthan, but this year delayed rains pushed back planting. But estimates of higher production may weigh on sentiment. In Jodhpur guar prices gained 40.45 rupees to 1991.8 rupees per 100 kg. Market has opened at 1982 & made a low of 1982 versus the day high of 2027. The total volume for the day was at 141480 lots and the open interest was at 133030.Now support for the guar is seen at 1996 and below could see a test of 1966. Resistance is now likely to be seen at 2041, a move above could see prices testing 2056.

Trading Ideas:

Guar trading range is 1966-2056.

Guar settled higher due to lower stocks and hopes of likely delay in fresh arrivals

Guar is taking resistance at 2041 and support is seen at 1996.

NCDEX accredited warehouses guar stocks rose 1940 tonnes to 26753 tonnes.

In Jodhpur guar prices gained 40.45 rupees to 1991.8 rupees per 100 kg.