Guar yesterday we have seen that market has moved 3.78% as demand seems to have picked up at the lower levels. Good demand from millers and stockists are there. Processors are regularly buying Guar seed for exports. 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 89.2 rupees to 2762.75 rupees per 100 kg. Market has opened at 2845 & made a low of 2834 versus the day high of 2943. The total volume for the day was at 265720 lots and the open interest was at 184200.Now support for the guar is seen at 2868 and below could see a test of 2796. Resistance is now likely to be seen at 2977, a move above could see prices testing 3014.

Trading Ideas:

Guar trading range is 2794-3012.

Guar ended higher due to pick up in demad at the lower levels.

Guar is taking resistance at 2975 and support is seen at 2908

NCDEX accredited warehouses guar stocks rose 348 tonnes to 92094 tonnes.

In Jodhpur guar prices gained 89.2 rupees to 2762.75 rupees per 100 kg.