The NCDEX guar seed has been trading in a range. Structurally it is forming a triangle. The 20-daily moving average and the lower end of the rising channel are there to provide support. In the time the commodity has consolidated the daily momentum indicator has cooled off. Unless the swing low of Rs11,035 is broken the view remains bullish. The break-out level on the upside is Rs12,730. The channel target is Rs15,400.