Guar yesterday we have seen that market has moved -2.69% on sluggish spot demand, with prospects of higher production on increased area under guar seed and favourable weather dampening sentiment. Production in the country may touch 1 million tonnes in this crop year. In Jodhpur guar prices dropped -34.35 rupees to 2084.5 rupees per 100 kg. Market has opened at 2118 & made a low of 2060 versus the day high of 2126. The total volume for the day was at 256660 lots and the open interest was at 173300.Now support for the guar is seen at 2041 and below could see a test of 2018. Resistance is now likely to be seen at 2107, a move above could see prices testing 2150.

Trading Ideas:

Guar trading range is 2018-2150.

Guar yesterday ended lower on sluggish spot demand

Guar is getting resistance at 2088 and support is at 2041 level

NCDEX accredited warehouses guar stocks fell 2 tonnes to 21161 tonnes.

In Jodhpur guar prices dropped -34.35 rupees to 2084.5 rupees per 100 kg.