Guar yesterday we have seen that market has moved 0.1% on strong export demand for guar gum and falling arrivals. Advancement in the oil drilling technology and a resurgence of the global economy are boosting demand for guar gum. Millers are buying at every dip to supply to the exporters. In Jodhpur guar prices gained 17.85 rupees to 2932.5 rupees per 100 kg. Market has opened at 2985 & made a low of 2977 versus the day high of 3015. The total volume for the day was at 127600 lots and the open interest was at 145280. Now support for the guar is seen at 2967 and below could see a test of 2953. Resistance is now likely to be seen at 3005, a move above could see prices testing 3029.

Trading Ideas:

Guar trading range is 2954-3030.

Guar gained on strong export demand for guar gum and falling arrivals

Guar is taking resistance at 3000 and support is seen at 2956

NCDEX accredited warehouses guar stocks rose by 21 tonnes to 95417 tonnes.

In Jodhpur guar prices gained 17.85 rupees to 2932.5 rupees per 100 kg.