Guar yesterday we have seen that market has moved 1.4% as unseasonal rains hampered harvesting and on overseas demand. Unseasonal rains are affecting the harvesting operations. Overseas demand is good and is supporting sentiment. India is the world's largest producer and exporter of guar gum and supplies 80 percent of the global demand. In Jodhpur guar prices gained 2.25 rupees to 2401.3 rupees per 100 kg. Market has opened at 2498 & made a low of 2463 versus the day high of 2533. The total volume for the day was at 348330 lots and the open interest was at 149180.Now support for the guar is seen at 2484 and below could see a test of 2438. Resistance is now likely to be seen at 2554, a move above could see prices testing 2578.

Trading Ideas:

Guar trading range is 2438-2578.

Guar ended higher as unseasonal rains hampered harvesting

Guar is taking resistance at 2554 and support is seen at 2500.

Spread between guar DEC & JAN contracts yesterday traded in the range of 32 to 40.

In Jodhpur guar prices gained 2.25 rupees to 2401.3 rupees per 100 kg.