Guar yesterday we have seen that market has moved 2.01% up as rains in Rajasthan affected the arrivals and hopes of a pick-up in demand for guar gum and local demand. The coming week too should see increased volatility as traders wait for dips before fresh queries and exports too are expected in coming weeks, rising exports amidst reports of delayed arrivals and slight fall in production expectations and adverse impact on the crop from the rains in growing areas are likely to provide support to the price for Guar. Also there are concerns over crop quality strengthening of Dollar vs Re could have positive impact on the export front. Delayed arrivals and reports of poor quality arrivals have been there. Also some apprehensions of a fall in productivity due to the off-seasonal rains in the growing areas could perk up prices in the short term. In Jodhpur guar prices gained 46.55 rupees to 2380.85 rupees per 100 kg. Now support for the guar is seen at 2448 and below could see a test of 2408. Resistance is now likely to be seen at 2512, a move above could see prices testing 2536.

Trading Ideas:

Guar trading range is 2408-2536.

Guar ended higher as rains in Rajasthan affected the arrivals

Guar is taking resistance at 2512 and support is seen at 2460.

NCDEX accredited warehouses guar stocks rose 618 tonnes to 62006 tonnes.

BUY GUAR JAN @ 2440-2450 SL 2418 TGT 2472-2495.NCDEX

In Jodhpur guar prices gained 46.55 rupees to 2380.85 rupees per 100 kg.