Mustardseed yesterday traded with the positive node and settled 0.42% up at 563.75. As on 16th December the sowing acreage of mustard seed in Rajasthan stood at 31.63 lakh hectares against 22.87 lakh hectares reported last year. The total arrivals of mustard seed decreased by 30000 bags to 35000 bags in major mandies. In the Jaipur spot market in Rajasthan the price edged down by -1.8 rupee to 566.2 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 558.6 after opening at 561.2, and finally settled at 563.75. For today's session market is looking to take support at
560.3, a break below could see a test of 556.9 and where as resistance is now likely to be seen at 565.5, a move above could see prices testing 567.2.

Trading Ideas:

Mustard Seed trading range is 556.9-567.2.

The sowing acreage of mustard seed in Rajasthan stood at 31.63 lakh hectares as on Dec 16.

Mustardseed looks to take support at 560.3 and resistance at 565.

NCDEX accredited warehouses mustard seed stocks rose 851 tonnes to 113724 tonnes.

In the Jaipur spot market in Rajasthan the price edged down by -1.8 rupee to 566.2 rupees per 20 kgs.