Guar yesterday we have seen that market has moved 2.47% on hopes of higher guar gum exports, though a rise in arrivals at the spot market and an expected rise in production weighed. Good export demand for guar-gum lifted seed prices. Market is expecting gum makers to raise purchases in the next few days. 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 -17.95 rupees to 2344.3 rupees per 100 kg. Market has opened at 2470 & made a low of 2436 versus the day high of 2537. The total volume for the day was at 316500 lots and the open interest was at 172550.Now support for the guar is seen at 2463 and below could see a test of 2399. Resistance is now likely to be seen at 2564, a move above could see prices testing 2601.

Trading Ideas:

Guar trading range is 2396-2598.

Guar ended higher on hopes of higher guar gum exports

Guar is taking resistance at 2542 and support is seen at 2500.

NCDEX accredited warehouses guar stocks rose 1181 tonnes to 45486 tonnes.

In Jodhpur guar prices dropped -17.95 rupees to 2344.3 rupees per 100 kg.