Guar yesterday we have seen that market has moved 2.66% on delayed arrivals and reports of poor quality arrivals along with some apprehensions of a fall in productivity due to the off-seasonal rains in the growing areas have supported the prices. Export demand too is likely to ramp up at these low levels. India is the world's largest producer and exporter of guar gum and supplies 80 percent of the global demand. In Jodhpur guar prices gained 46.6 rupees to 2363.25 rupees per 100 kg. Market has opened at 2405 & made a low of 2400 versus the day high of 2482. The total volume for the day was at 250330 lots and the open interest was at 160200.Now support for the guar is seen at 2422 and below could see a test of 2370. Resistance is now likely to be seen at 2504, a move above could see prices testing 2534.

Trading Ideas:

Guar trading range is 2370-2534.

Guar ended higher on delayed arrivals and reports of poor quality arrivals

Guar is taking resistance at 2504 and support is seen at 2448.

NCDEX accredited warehouses guar stocks rose 198 tonnes to 35213 tonnes.

In Jodhpur guar prices gained 46.6 rupees to 2363.25 rupees per 100 kg.