Guarseed ended flat recovering from lows supported by fresh enquiries from millers while declining arrivals also aided sentiment. Fresh enquires have started coming after recent correction in prices. Traders are comfortable at these levels and expect a good upward movement. Supplies have come down but demand is strong and likely to remain firm in coming days. Guar seed output in Rajasthan, the country's top producer, may come in at 1.49 million tonnes in 2010/11, according to the state government's estimate. In Jodhpur guarseed prices gained 13.15 rupees to 2942 rupees per 100 kg. Market has opened at 2965 & made a low of 2937 versus the day high of 3005. The total volume for the day was at 262430 lots and the open interest was at 170850.Now support for the guarseed is seen at 2934 and below could see a test of 2901. Resistance is now likely to be seen at 3002, a move above could see prices testing 3037.

Trading Ideas:

Guarseed trading range is 2901-3037.

Guarseed ended flat recovering from lows supported by fresh enquiries from millers

Guarseed is taking resistance at 3002 and support is seen at 2934.

NCDEX accredited warehouses guarseed stocks fell by 69 tonnes to 93621 tonnes.

In Jodhpur guarseed prices gained 13.15 rupees to 2942 rupees per 100 kg.