Guar settled higher as lower output estimates and weak arrivals in the physical market sparked buying. Lower area and poor yields due to patchy rains are estimated to have cut guar output by over 80 percent in Rajasthan. Guar yesterday we have seen that market has moved 0.25%. Market has opened at 2824 & made a low of 2810 versus the day high of 2849.

The total volume for the day was at 54640 lots and the open interest was at 60180. Now support for the guar is seen at 2802 and below could see a test of 2787. Resistance is now likely to be seen at 2841, a move above could see prices testing 2865.

Trading Ideas:

GUAR TRADING RANGE IS 2760-2875.

GUAR SETTLED HIGHER AS LOWER OUTPUT ESTIMATES AND WEAK ARRIVALS

BUY GUAR DEC @ 2790-2800 SL 2776 TGT 2812-2830-2852.NCDEX

SUPPORT FOR THE GUAR IS AT 2802 AND RESIST IS AT 2841.

IN BIKANER PRICES ROSE OVER 13 RUPEES AND ENDED AT 2763.90 RUPEES PER 100 KG.