Guar yesterday we have seen that market has moved -0.93 on profit-taking, though good demand from guar gum makers and decreasing arrivals limited the downside. Daily arrivals have decreased to around 40,000 bags. This year production has risen significantly, but market is getting support from lower carry-forward stocks. Total arrivals of around 55000-60000 bags against the previous day's arrivals of 25000-27000 bags were reported in major mandies. In Jodhpur guar prices dropped -43.2 rupees to 2664.85 rupees per 100 kg. Market has opened at 2790 & made a low of 2742 versus the day high of 2812. The total volume for the day was at 230710 lots and the open interest was at 196360.Now support for the guar is seen at 2736 and below could see a test of 2704. Resistance is now likely to be seen at 2806, a move above could see prices testing 2844.

Trading Ideas:

Guar trading range is 2703-2843.

Guar yesterday ended down on profit-taking though decreasing arrivals limited the downside

Guar is taking resistance at 2806 and support is seen at 2736.

NCDEX accredited warehouses guar stocks rose 159 tonnes to 86725 tonnes.

SELL GUAR FEB BELOW 2750 SL 2785 TGT 2722-2700-2682.NCDEX

In Jodhpur guar prices dropped -43.2 rupees to 2664.85 rupees per 100 kg.