Guar yesterday we have seen that market has moved 0.51% on export demand but higher output and arrivals limited the gains. 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 dropped -1.7 rupees to 2102.95 rupees per 100 kg. Market has opened at 2145 & made a low of 2142 versus the day high of 2168. The total volume for the day was at 140610 lots and the open interest was at 136670.Now support for the guar is seen at 2143 and below could see a test of 2130. Resistance is now likely to be seen at 2169, a move above could see prices testing 2182.

Trading Ideas:

Guar trading range is 2130-2182.

Guar ended firm on export demand but higher output and arrivals limited the gains

Guar is taking resistance at 2169 and support is seen at 2143.

NCDEX accredited warehouses guar stocks rose 50 tonnes to 35633 tonnes.

In Jodhpur guar prices dropped -1.7 rupees to 2102.95 rupees per 100 kg.