Guar yesterday we have seen that market has moved 4.18% as the reports of decline in production expectations and rise in export queries are keeping the sentiments firm for the commodity. Increase in export demand of guar gum is likely to support the prices of guar seed. In Jodhpur guar prices gained 87.45 rupees to 2272.1 rupees per 100 kg. Market has opened at 2281 & made a low of 2267 versus the day high of 2362. The total volume for the day was at 365610 lots and the open interest was at 164650. Now support for the guar is seen at 2299 and below could see a test of 2235. Resistance is now likely to be seen at 2394, a move above could see prices testing 2425.

Trading Ideas:

Guar trading range is 2235-2425.

Guar ended higher on reports of decline in production expectations

Guar is taking resistance at 2384 and support is seen at 2346.

NCDEX accredited warehouses guar stocks rose 30 tonnes to 34016 tonnes.

In Jodhpur guar prices gained 87.45 rupees to 2272.1 rupees per 100 kg.