Guar gained more than 1 percent on low-level buying driven by a likely rise in domestic demand and on lower output views.

Traders are expecting demand to recover at these levels as prices have fallen a lot. Any trigger from overseas market may support the rise in guar prices. In the Jodhpur spot market, guar gained 27 rupees to end at 2,301 rupees per 100 kg.

Guar yesterday we have seen that market has moved 1.28%. Market has opened at 2272 & made a low of 2270 versus the day high of 2321.

The total volume for the day was at 318140 lots and the open interest was at 188080.Now support for the guar is seen at 2270 and below could see a test of 2244.

Resistance is now likely to be seen at 2321, a move above could see prices testing 2346.

Trading Ideas:

Guar trading range is 1479-1581.
Guar gained on low-level buying driven by a likely rise in domestic demand
Support for the gaur is at 2270 and resistance is at 2321.
Yesterday we have seen that open interest fell by 3510 and volume rose by 106830 lots.
BUY GUAR APR ABV 2305 SL 2280 TGT 2325-2340-2356.NCDEX
In Jodhpur guar prices gained 27 rupees to end at 2,301 rupees per 100 kg

Courtesy: Kedia Commodities

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