Guar yesterday we have seen that market has moved 0.25% supported by robust demand for guar gum from millers to meet export obligations and active buying by stockists amid falling arrivals. Demand for guar gum is very good. Most of the demand is coming from oil and gas companies. Demand from these companies is expected to continue to be good. Guar seed output in Rajasthan, the country's top producer, may come in at 1.49 million tonnes in 2010/11. In Jodhpur guar prices dropped -9.95 rupees to 2761.5 rupees per 100 kg. Market has opened at 2829 & made a low of 2808 versus the day high of 2869. The total volume for the day was at 220170 lots and the open interest was at 149170. Now support for the guar is seen at 2807 and below could see a test of 2777. Resistance is now likely to be seen at 2868, a move above could see prices testing 2899.

Trading Ideas:

Guar trading range is 2779-2901.

Guar gained supported by robust demand for guar gum from millers

Guar is taking resistance at 2868 and support is seen at 2807.

NCDEX accredited warehouses guar stocks fell 280 tonnes to 88371 tonnes.

BUY GUAR FEB @ 2820-2830 SL 2792 TGT 2854-2875-2892.NCDEX

In Jodhpur guar prices dropped -9.95 rupees to 2761.5 rupees per 100 kg.