Mustardseed yesterday traded with the positive node and settled 0.13% up at 3024 on follow through buying. Production of mustard seed in the current season is likely to be at record level on drastic rise in acreage. Weather condition is also favoring for proper growth of the crop. According to Indian Agriculture Ministry, Mustard Seed acreage as on 13th January was 71.12 lakh hectares against 64.08 lakh hectares planted in the same period a year ago. In the Sriganganagar spot market in Rajasthan the price edged down by -12.5 rupee to 2787.5 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2996 after opening at 3026, and finally settled at 3024. For today's session market is looking to take support at 3001, a break below could see a test of 2978 and where as resistance is now likely to be seen at 3042, a move above could see prices testing 3060.

Trading Ideas:

Mustard Seed trading range is 2977.3-3059.3.

Mustardseed yesterday ended positive on follow through buying.

Mustardseed looks to take support at 3001 and resistance at 3042.

Production of mustard in current season is likely to be at record level on drastic rise in acreage

In the Sriganganagar spot market in Rajasthan the price edged down by -12.5 rupee to 2787.5 rupees per 20 kgs.