Guar yesterday we have seen that market has moved 2.46% supported by demand for guar gum and a bullish spot market due to lower stocks. Stockists and exporters are very active in the physical market on hopes of a further rise in prices. India is the world's largest producer and exporter of guar gum and supplies 80 percent of the global demand. However, expect rising arrivals and estimates of higher production to weigh on prices at higher levels. In Jodhpur guar prices gained 65.75 rupees to 2362.25 rupees per 100 kg. Market has opened at 2377 & made a low of 2374 versus the day high of 2426. The total volume for the day was at 61860 lots and the open interest was at 23160.Now support for the guar is seen at 2385 and below could see a test of 2354. Resistance is now likely to be seen at 2437, a move above could see prices testing 2458.

Trading Ideas:

Guar trading range is 2354-2458.

Guar ended positive supported by demand for guar gum and a bullish spot market

Guar is taking resistance at 2440 and support is seen at 2385.

NCDEX accredited warehouses guar stocks rose 640 tonnes to 44305 tonnes.

In Jodhpur guar prices gained 65.75 rupees to 2362.25 rupees per 100 kg.