Mustardseed yesterday traded with the negative node and settled -0.5% down at 2972 due to profit booking tracking weakness in other oilseed counters. The total arrivals of mustard seed decreased by 2000 bags from the previous day to 70000 bags in major mandies. In spot market mustard seed prices edged down by -7.5 rupee to 2817.5 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2956 after opening at 2999, and finally settled at 2972. For today's session market is looking to take support at 2948.3, a break below could see a test of 2924.7 and where as resistance is now likely to be seen at 3003.3, a move above could see prices testing 3034.7.

Trading Ideas:

Mustard Seed trading range is 2925-3035.

Mustard seed ended weak due to profit booking tracking weakness in other oilseed counters

Mustardseed looks to take support at 2948.30 and resistance at 3003.

NCDEX accredited warehouses mustard seed stocks fell by 2108 tonnes to 75201 tonnes.

BUY RMSEED FEB @ 2950-2955 SL 2944 TGT 2960-2978.NCDEX

In the Jaipur spot market in Rajasthan the price edged down by -7.5 rupee to 2817.5 rupees per 20 kgs.