Guar yesterday we have seen that market has moved -0.35% on good demand from stockists and millers due to a pick-up in export enquiries while falling arrivals also supported the rise. Guar seed output in Rajasthan, the country's top producer, may come in at 1.49 million tonnes in 2010/11, the state government's estimates show, marginally lower than the earlier estimate of 1.51 million tonnes in September. Millers are actively buying in the market to meet the export deals signed earlier. Fresh enquiries are also being witnessed. Estimates of higher production due to increased area however, capped the gains. In Jodhpur guar prices gained 14.35 rupees to 2486.25 rupees per 100 kg. Market has opened at 2585 & made a low of 2564 versus the day high of 2601. The total volume for the day was at 164680 lots and the open interest was at 191950. Now support for the guar is seen at 2553 and below could see a test of 2540. Resistance is now likely to be seen at 2590, a move above could see prices testing 2614.

Trading Ideas:

Guar trading range is 2541-2615.

Guar ended weak on good demand from stockists and millers

Guar is taking resistance at 2590 and support is seen at 2553.

NCDEX accredited warehouses guar stocks rose 2000 tonnes to 78222 tonnes.

BUY GUAR FEB ON PULL BACK @ 2530-2540 SL 2510 TGT 2558-2575.NCDEX

In Jodhpur guar prices gained 14.35 rupees to 2486.25 rupees per 100 kg.