Guar yesterday we have seen that market has moved -4% on rising arrivals and estimates of higher production though demand for guar gum restricted the losses. Estimates of higher production is likely to keep prices under pressure in the coming few sessions.  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 -88 rupees to 2280.75 rupees per 100 kg. Market has opened at 2430 & made a low of 2352 versus the day high of 2435. The total volume for the day was at 44430 lots and the open interest was at 44930.Now support for the guar is seen at 2324 and below could see a test of 2297. Resistance is now likely to be seen at 2407, a move above could see prices testing 2463.

Trading Ideas:

Guar trading range is 2297-2463.

Guar ended weak on rising arrivals and estimates of higher production

Guar is taking resistance at 2378 and support is seen at 2320.

NCDEX accredited warehouses guar stocks rose 472 tonnes to 42815 tonnes.

In Jodhpur guar prices dropped -88 rupees to 2280.75 rupees per 100 kg.