Guarseed yesterday we have seen that market has moved 1.53% as good export demand and low level of Monsoon activities in Rajasthan kept sentiments positive for the commodity. Also stockists have been reportedly holding onto their stocks in anticipation of further rise in prices in coming days. Rains at this time can be beneficial for the crop sowing and that could affect the sentiments temporarily. Stockists too are reportedly holding onto their stocks in anticipation of further rise in prices in coming days. Guar seed arrivals stood steady at 8,000 bags in the Jodhpur Mandi. In Jodhpur guarseed prices dropped -17.35 rupees to 4056.9 rupees per 100 kg. Market has opened at 4165 & made a low of 4165 versus the day high of 4243. The total volume for the day was at 256030 lots and the open interest was at 204520.Now support for the guarseed is seen at 4190 and below could see a test of 4138. Resistance is now likely to be seen at 4268, a move above could see prices testing 4294.

Guarseed trading range is 4138-4294.

Guarseed ended higher on good export demand and low level of Monsoon activities in Rajasthan

Rains at this time can be beneficial for the crop sowing and that could affect the sentiments temporarily

NCDEX accredited warehouses guarseed stocks dropped by 251 tonnes to 77754 tonnes.

BUY GUARSEED AUG @ 4190-4210 SL 4170 TGT 4240-4268-4290.NCDEX

In Jodhpur guarseed prices dropped -17.35 rupees to 4056.9 rupees per 100 kg.