Guar yesterday we have seen that market has moved -2.28% on rising arrivals and higher output. Rising arrivals in the physical market are weighing on prices. In the short term. 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. India is the world's largest producer and exporter of guar gum and supplies 80 percent of the global demand. In Jodhpur guar prices dropped -16 rupees to 2356.9 rupees per 100 kg. Market has opened at 2400 & made a low of 2348 versus the day high of 2442. The total volume for the day was at 301850 lots and the open interest was at 115810. Now support for the guar is seen at 2325 and below could see a test of 2289. Resistance is now likely to be seen at 2419, a move above could see prices testing 2477.

Trading Ideas:

Guar trading range is 2290-2478.

Guar ended lower on rising arrivals and higher output

Guar is taking resistance at 2388 and support is seen at 2325.

NCDEX accredited warehouses guar stocks rose 629 tonnes to 39278 tonnes.

In Jodhpur guar prices dropped -16 rupees to 2356.9 rupees per 100 kg.