Guar yesterday we have seen that market has moved -0.76% on profit-taking triggered after prices rose significantly since the start of the month. Estimates of higher production also weighed on sentiment. 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 showed. In Jodhpur guar prices gained 6.65 rupees to 2671.5 rupees per 100 kg. Market has opened at 2775 & made a low of 2714 versus the day high of 2785. The total volume for the day was at 215000 lots and the open interest was at 185230.Now support for the guar is seen at 2711 and below could see a test of 2677. Resistance is now likely to be seen at 2782, a move above could see prices testing 2819.

Trading Ideas:

Guar trading range is 2678-2820.

Guar ended down on profit-taking triggered after prices rose from start of the month

Guar is taking resistance at 2782 and support is seen at 2711.

NCDEX accredited warehouses guar stocks rose 949 tonnes to 87674 tonnes.

SELL GUAR FEB BELOW 2750 SL 2785 TGT 2722-2700-2682.NCDEX

In Jodhpur guar prices gained 6.65 rupees to 2671.5 rupees per 100 kg.