Guar yesterday we have seen that market has moved 0.59% on firm export and domestic demand but negative sentiment from higher output and arrivals limited the gains. Strong buying by exporters and cattlefeed industry is supporting the prices. India is the world's largest producer and exporter of guar gum and supplies 80 percent of world guar gum demand. In Jodhpur guar prices dropped -17.85 rupees to 2128.25 rupees per 100 kg. Market has opened at 2189 & made a low of 2185 versus the day high of 2209. The total volume for the day was at 67060 lots and the open interest was at 173080. Now support for the guar is seen at 2189 and below could see a test of 2175. Resistance is now likely to be seen at 2213, a move above could see prices testing 2223.

Trading Ideas:

Guar trading range is 2175-2223.

Guar ended higher on firm export and domestic demand

Guar is taking resistance at 2218 and support is seen at 2189.

NCDEX accredited warehouses guar stocks fell 345 tonnes to 34036 tonnes.

In Jodhpur guar prices dropped -17.85 rupees to 2128.25 rupees per 100 kg.