Guar yesterday we have seen that market has moved -0.79% on the back of some profit booking. The prices inched higher in previous session on weak arrivals in major mandis, as the total daily arrivals were around 1 lakh bags at major mandis against the normal arrivals of 1.25-1.40 lakh bags. In Jodhpur guar prices gained 58.35 rupees to 2402.65 rupees per 100 kg. Market has opened at 2520 & made a low of 2472 versus the day high of 2533. The total volume for the day was at 282480 lots and the open interest was at 172030. Now support for the guar is seen at 2469 and below could see a test of 2440. Resistance is now likely to be seen at 2530, a move above could see prices testing 2562.

Trading Ideas:

Guar trading range is 2436-2558.

Guar ended weak on the back of some profit booking

Guar is taking resistance at 2530 and support is seen at 2476.

NCDEX accredited warehouses guar stocks rose 669 tonnes to 46155 tonnes.

In Jodhpur guar prices gained 58.35 rupees to 2402.65 rupees per 100 kg.