Guar yesterday we have seen that market has moved -1.78% on profit-taking and fresh arrivals coupled with strong production estimates of the current year. In the non-irrigated areas of Rajasthan, guar seed sowing begins after mid-June, when monsoon reaches the state, but this year delayed rains pushed back planting. Guar seed output in Rajasthan, the country's top producer, is expected to rise to 1.51 million tonnes in 2010/11 boosted by higher area and good monsoon rains. In Jodhpur guar prices dropped -29.9 rupees to 1997.2 rupees per 100 kg. Market has opened at 2099 & made a low of 2053 versus the day high of 2099. The total volume for the day was at 173620 lots and the open interest was at 158420.Now support for the guar is seen at 2046 and below could see a test of 2026. Resistance is now likely to be seen at 2092, a move above could see prices testing 2118.

Trading Ideas:

Guar trading range is 2026-2118.

Guar settled lower on  profit-taking and fresh arrivals coupled with strong production estimates

Guar is taking resistance at 2092 and support is seen at 2046.

NCDEX accredited warehouses guar stocks rose 10 tonnes to 32931 tonnes.

In Jodhpur guar prices dropped -29.9 rupees to 1997.2 rupees per 100 kg.