Guar yeserday we have seen that market has moved 0.05% on firm export and domestic demand, but higher output and arrivals limited gains. Demand for churi and korma was good and exporters are also very active in the market. A reviving world economy and a preference shift to eco-friendly substitutes has seen a surge in demand for Indian guar gum from oil and gas companies that could push exports up 22 percent in 2010/11. In Jodhpur guar prices gained 34.35 rupees to 2146.1 rupees per 100 kg. Market has opened at 2165 & made a low of 2155 versus the day high of 2181. The total volume for the day was at 141740 lots and the open interest was at 107400.Now support for the guar is seen at 2149 and below could see a test of 2139. Resistance is now likely to be seen at 2175, a move above could see prices testing 2191.

Trading Ideas:

Guar trading range is 2140-2192.

Guar ended firm on firm export and domestic demand

Guar is taking resistance at 2175 and support is seen at 2149.

NCDEX accredited warehouses guar stocks fell 1442 tonnes to 34381 tonnes.

In Jodhpur guar prices gained 34.35 rupees to 2146.1 rupees per 100 kg.