Guar ended higher recovering from early weakness on lower output and improved spot demand in afternoon trade. Spot prices in Bikaner, a major trading centre, rose by 40 rupees to 2,350 rupees per 100 kg. The demand for guar may have competition from other commodities as stockists are buying mustard seed and barley which give better returns. Guar yesterday we have seen that market has moved 0.76%. Market has opened at 2354 & made a low of 2342 versus the day high of 2389. The total volume for the day was at 177340 lots and the open interest was at 172550.Now support for the guar is seen at 2352 and below could see a test of 2323. Resistance is now likely to be seen at 2399, a move above could see prices testing 2417.

Trading Ideas:

Guar trading range is 2323-2417.

Guar ended higher recovering from early weakness on lower output

Guar is getting resistance at 2399 and support is at 2352 level

Yesterday we have seen that open interest rose by 2270 and volume fell by 78740 lots.

In Jodhpur guar prices fell 1 rupee to end at 2,342 rupees per 100 kg

SELL GUAR APR @ 2380 SL 2400 TGT 2362-2345-2322. NCDEX