Guar yesterday we have seen that market has moved -0.34% witnessing some profit booking after registering decent surge in last few sessions on the back of improved export demand and moderate arrivals. Increased arrivals from Jodhpur and Bikaner have kept some pressure on the rates. In Jodhpur guar prices gained 9.05 rupees to 2571.1 rupees per 100 kg. Market has opened at 2677 & made a low of 2656 versus the day high of 2695. The total volume for the day was at 207650 lots and the open interest was at 207470.Now support for the guar is seen at 2647 and below could see a test of 2632. Resistance is now likely to be seen at 2686, a move above could see prices testing 2710.

Trading Ideas:

Guar trading range is 2632-2710.

Guar ended weak witnessing some profit booking

Guar is taking resistance at 2686 and support is seen at 2647.

NCDEX accredited warehouses guar stocks rose 1400 tonnes to 83143 tonnes.

In Jodhpur guar prices gained 9.05 rupees to 2571.1 rupees per 100 kg.