Guar yesterday we have seen that market has moved 1.46% on a decline in arrivals and demand from stockists and local traders on hopes of a pick-up in exports, although expectations of higher output weighed. Arrivals are declining day by day. Millers are actively buying in the market on hopes of rise in exports enquiries. In Jodhpur guar prices gained 33.45 rupees to 2471.9 rupees per 100 kg. Market has opened at 2538 & made a low of 2530 versus the day high of 2584. The total volume for the day was at 198760 lots and the open interest was at 189300.Now support for the guar is seen at 2543 and below could see a test of 2510. Resistance is now likely to be seen at 2597, a move above could see prices testing 2618.

Trading Ideas:

Guar trading range is 2509-2617.

Guar ended higher due to decline in arrivals and on hopes of a pick-up in exports

Guar is taking resistance at 2597 and support is seen at 2543.

NCDEX accredited warehouses guar stocks rose 1788 tonnes to 76222 tonnes.

BUY GUAR FEB ON PULL BACK @ 2545 SL 2520 TGT 2565-2595.NCDEX

In Jodhpur guar prices gained 33.45 rupees to 2471.9 rupees per 100 kg.