Guar yesterday we have seen that market has moved 0.38% on short covering after prices fell on Friday on higher output and increasing arrivals. Arrival pressure is gradually increasing. Guar is likely to trade under pressure in the coming days. India is the world's largest producer and exporter of guar gum and supplies 80 percent of the world guar gum demand.. In Jodhpur guar prices dropped -20.75 rupees to 2063.75 rupees per 100 kg. Market has opened at 2123 & made a low of 2087 versus the day high of 2127. The total volume for the day was at 170330 lots and the open interest was at 126690. Now support for the guar is seen at 2100 and below could see a test of 2073. Resistance is now likely to be seen at 2140, a move above could see prices testing 2153.

Trading Ideas:

Guar trading range is 2073-2153.

Guar we have seen that market has moved 0.38% on short covering

Guar is taking resistance at 2140 and support is seen at 2100.

NCDEX accredited warehouses guar stocks rose 69 tonnes to 35793 tonnes.

In Jodhpur guar prices dropped -20.75 rupees to 2063.75 rupees per 100 kg.