Mustardseed yesterday traded with the negative node and settled -0.11% down at 556.5 as rapeseed acreage has risen. Weather is also conducive for rapeseed crop. The total arrivals of mustard seed decreased by 2000 bags to 62000 bags in major mandies. In the Jaipur spot market in Rajasthan the price edged up by 0.9 rupee to 568.4 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 556 after opening at 558, and finally settled at 556.5. For today's session market is looking to take support at 553.5, a break below could see a test of 550.5 and where as resistance is now likely to be seen at 562, a move above could see prices testing 567.4.

Trading Ideas:

Mustard Seed trading range is 550.9-567.8.

Mustardseed ended down weighed by rise in acreage

Mustardseed looks to take support at 553.5 and resistance at 562.

NCDEX accredited warehouses mustard seed stocks rose 259 tonnes to 112462 tonnes.

In the Jaipur spot market in Rajasthan the price edged up by 0.9 rupee to 568.4 rupees per 20 kgs.