Guar futures ended lower and has moved -0.8%, Market has opened at 2510 & made a low of 2490 versus the day high of 2521 on ample stocks but may open steady in the next session on low-level buying, guar is expected to firm only in coming session as demand for guar gum is improving. In the Jodhpur spot market, guar seed price dipped 10 rupees to end at 2,482 rupees per 100 kg. In top guar producer Rajasthan, output is likely to drop by 80 percent to 241,000 tonnes in 2009/10 as scanty rains trimmed area and yields.

The total volume for the day was at 218710 lots and the open interest was at 222070. Now support for the guar is seen at 2483 and below could see a test of 2471. Resistance is now likely to be seen at 2514, a move above could see prices testing 2533.

Trading Ideas:

Guar trading range is -851-4191.

Guar ended flat to weak on ample stocks but may open steady in the next session on low-level buying.

Guar output is likely to drop by 80% to 241,000 tonnes in 2009/10 as scanty rains trimmed area and yields.

Important support to the market is at 2470 where buying is expected for overall resistance look till 2560 level.

BUY GUAR MAR Above 2506 SL 2478 TGT 2526-2538-2560. NCDEX

In the Jodhpur spot market, guar seed price dipped 10 rupees to end at 2,482 rupees per 100 kg.