Guar yesterday we have seen that market has moved 1.56% supported by export demand, but higher output and arrivals limited gains. Demand is good from exporters but arrivals have also increased. India is the world's largest producer and exporter of guar gum and supplies 80 percent of the world guar gum demand. 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 gained 12.25 rupees to 2057.05 rupees per 100 kg. Market has opened at 2115 & made a low of 2103 versus the day high of 2154. The total volume for the day was at 219640 lots and the open interest was at 151980.Now support for the guar is seen at 2114 and below could see a test of 2083. Resistance is now likely to be seen at 2165, a move above could see prices testing 2185.

Trading Ideas:

Guar trading range is 2083-2185.

Guar settled higher supported by export demand

Guar is taking resistance at 2165 and support is seen at 2114.

NCDEX accredited warehouses guar stocks rose 259 tonnes to 35593 tonnes.

In Jodhpur guar prices gained 12.25 rupees to 2057.05 rupees per 100 kg.