Guar yesterday bounced once again on improved demand and fresh export enquiries with added thin arrivals in the market which is estimates of lower output, spot market gained by 37 rupees to end at 2,393 rupees per 100 kg. Exporters and stockists are buying from spot in anticipation of good move in future, demand for churi and korma is also supportive. However, the important factor to watch out this weak is the monsoon report. The overall output for Rajasthan area is likely to drop by 80 percent to 241,000 tonnes in 2009/10 as scanty rains trimmed area and yields. For today's session market is looking to take support at 2367, a break below could see a test of 2330 and where as resistance is now likely to be seen at 2435, a move above could see prices testing 2466.

Trading Ideas:

Guar trading range is 2330-2466.

Guar yesterday bounced once again on improved demand and fresh export enquiries

Guar is getting resistance at 2418 and support is at 2388 level

NCDEX accredited warehouses guar stocks fell by 814 tonnes to 23511 tonnes.

BUY GUAR MAY @ 2380-2390 SL 2365 TGT 2415-2432.NCDEX

In Jodhpur guar prices rose 37 rupees to 2,392 rupees per 100 kg.