Guar ended higher on thin arrivals in the physical market and a lower output estimate. High stock levels are preventing any major upside movement in rates. Guar yesterday we have seen that market has moved 0.61%. Market has opened at 2292 & made a low of 2278 versus the day high of 2307. The total volume for the day was at 178260 lots and the open interest was at 134110.Now support for the guar is seen at 2284 and below could see a test of 2266. Resistance is now likely to be seen at 2313, a move above could see prices testing 2324.

Trading Ideas:

Guar trading range is 2266-2324.

Guar ended higher on thin arrivals in the physical market and a lower output estimate

Guar is getting resistance at 2313 and support is at 2284 level

NCDEX accredited warehouses guar stocks fell by 11 tonnes to 26858 tonnes.

In Jodhpur guar prices gained 13 rupees to end at 2,302 rupees per 100 kg.

BUY GUAR APR @ 2270-2280 SL 2254 TGT 2300-2326-2345. NCDEX