Guar yesterday we have seen that market has moved -0.14%. Market has opened at 2501 & made a low of 2488 versus the day high of 2517 and seems that overall market will be firm and continuous to prevail in the market on estimates of lower output and thin arrivals also some buying has been witnessed in the market with overseas enquiries. In the Jodhpur spot market in Rajasthan, guar seed price gained 18 rupees to 2,436 rupees per 100 kg.

This year guar output is likely to drop by 80 percent to 241,000 tonnes in 2009/10 as scanty rains trimmed area and yields. The total volume for the day was at 194210 lots and the open interest was at 202500. Now support for the guar is seen at 2482 and below could see a test of 2470. Resistance is now likely to be seen at 2511, a move above could see prices testing 2528.

Trading Ideas:

Guar trading range is -1678-3356.

Guar traded in the range and look to trade firm on estimates of lower output and thin arrivals

Guar output is likely to drop by 80% to 241,000 tonnes in 2009/10 as scanty rains trimmed area and yields.

Important support to the market is at 2428 where buying is expected for overall resistance look till 2512 level.

BUY GUAR MAR ON DIP @ 2440 SL 2408 TGT 2465-2478-2490.NCDEX

In the Jodhpur spot market in Rajasthan, guar seed price gained 18 rupees to 2,436 rupees per 100 kg.