Guar yesterday we have seen that market has moved -0.52% due to profit booking after trading higher on the back of rising exports amidst reports of delayed arrivals. Apart from this there were some apprehensions of a fall in productivity due to the off-seasonal rains in the growing areas, that could perk up prices in the short term. The total arrivals of guarseed in Rajasthan were 7000 bags. In Jodhpur guar prices gained 34.7 rupees to 2436 rupees per 100 kg. Market has opened at 2533 & made a low of 2503 versus the day high of 2565. The total volume for the day was at 306090 lots and the open interest was at 149070.Now support for the guar is seen at 2490 and below could see a test of 2466. Resistance is now likely to be seen at 2552, a move above could see prices testing 2590.

Trading Ideas:

Guar trading range is 2467-2591.

Guar yesterday ended down due to profit booking

Guar is taking resistance at 2538 and support is seen at 2490.

NCDEX accredited warehouses guar stocks rose 300 tonnes to 35822 tonnes.

In Jodhpur guar prices gained 34.7 rupees to 2436 rupees per 100 kg.