Mustardseed yesterday traded with the positive node and settled 1.03% up at 557 on short covering amid tracking gains in other oilseed counters. However, a rise in rapeseed acreage due to good monsoon rains capped the upside. In the Jaipur spot market in Rajasthan the price edged down by -1.45 rupee to 567.5 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 553.1 after opening at 553.1, and finally settled at 557. For today's session market is looking to take support at 553.9, a break below could see a test of 550.8 and where as resistance is now likely to be seen at 559.3, a move above could see prices testing 561.5.

Trading Ideas:

Mustard Seed trading range is 550.9-561.6.

Mustardseed ended positive yesterday on short covering

Mustardseed looks to take support at 553.9 and resistance at 559.

NCDEX accredited warehouses mustard seed stocks fell 736 tonnes to 112203 tonnes.

In the Jaipur spot market in Rajasthan the price edged down by -1.45 rupee to 567.5 rupees per 20 kgs.