Guar yesterday we have seen that market has moved 2.42% due to good export demand, good local demand and declining arrivals. Demand from both local and overseas market is very good. Arrivals have also come down to 40,000 bags in spot. 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 gained 21.2 rupees to 2795.15 rupees per 100 kg. Market has opened at 2855 & made a low of 2853 versus the day high of 2937. The total volume for the day was at 240260 lots and the open interest was at 121130.Now support for the guar is seen at 2871 and below could see a test of 2820. Resistance is now likely to be seen at 2955, a move above could see prices testing 2988.

Trading Ideas:

Guar trading range is 2823-2991.

Guar ended higher due to good demand and declining arrivals.

Guar is taking resistance at 2955 and support is seen at 2871.

NCDEX accredited warehouses guar stocks rose 1321 tonnes to 90931 tonnes.

In Jodhpur guar prices gained 21.2 rupees to 2795.15 rupees per 100 kg.