Mustardseed yesterday traded with the negative node and settled -0.44% down at 568 as weakness in other oil counters and a rise in rapeseed acreage weighed on prices. The total arrivals of mustard seed decreased by 5000 bags to 65000 bags in major mandies. In the Jaipur spot market in Rajasthan the price edged up by 1 rupee to 569.65 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 566.9 after opening at 569, and finally settled at 568. For today's session market is looking to take support at 565.6, a break below could see a test of 563.2 and where as resistance is now likely to be seen at 571.7, a move above could see prices testing 575.5.

Trading Ideas:

Mustard Seed trading range is 563.2-575.5.

Mustardseed ended weak as rise in acreage weighed

Mustardseed looks to take support at 565.6 and resistance at 572.

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

In the Jaipur spot market in Rajasthan the price edged up by 1 rupee to 569.65 rupees per 20 kgs.