Guar yesterday we have seen that market has moved 1.53% on a decline in arrivals and export demand. However, a likely rise in output weighed on sentiment. 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 88.65 rupees to 2789.05 rupees per 100 kg. Market has opened at 2795 & made a low of 2757 versus the day high of 2864. The total volume for the day was at 342700 lots and the open interest was at 183100.Now support for the guar is seen at 2780 and below could see a test of 2715. Resistance is now likely to be seen at 2887, a move above could see prices testing 2929.

Trading Ideas:

Guar trading range is 2717-2931.

Guar gained on a decline in arrivals and export demand

Guar is taking resistance at 2880 and support is seen at 2810

NCDEX accredited warehouses guar stocks rose 118 tonnes to 94268 tonnes.

In Jodhpur guar prices gained 88.65 rupees to 2789.05 rupees per 100 kg.