Guar yesterday we have seen that market has moved -0.19% on prospects of higher crop due to more area under guar seed in Rajasthan, the leading producer and on conducive weather. India's guar seed output is likely to jump over 3-fold to nearly a million tonnes in 2010/11 after farmers expanded area under the crop and as monsoon rains remained conducive. In Jodhpur guar prices dropped -0.1 rupees to 2131.9 rupees per 100 kg. Market has opened at 2157 & made a low of 2141 versus the day high of 2167. The total volume for the day was at 200130 lots and the open interest was at 184570.Now support for the guar is seen at 2139 and below could see a test of 2127. Resistance is now likely to be seen at 2165, a move above could see prices testing 2179.

Trading Ideas:

Guar trading range is 2127-2179.

Guar yesterday ended weak on prospects of higher crop

Guar is getting resistance at 2165 and support is at 2139 level

NCDEX accredited warehouses guar stocks rose 29 tonnes 21163 tonnes.

In Jodhpur guar prices dropped -0.1 rupees to 2131.9 rupees per 100 kg.