The crop scenario for mustard shall play a pivotal role in the coming months as how the crushing activity for mustard seed takes place shall determine the availability of oil in the domestic market and there by play a pivotal role in governing the price. Mustardseed yesterday traded with the positive node and settled 0.39% up at 561.65. Some pressure had been seen from the spot market also which closed at 601 that is down by -8rs. In yesterday's trading session Mustardseed has touched the low of 560.35 after opening at 561.45, and finally settled at 561.65. For today's session market is looking to take support at 560.3, a break below could see a test of 559 and where as resistance is now likely to be seen at 563, a move above could see prices testing 564.4. Spread between Mustardseed JAN & JAN contracts yesterday ended at 0.00, we have seen yesterday that the Mustardseed market had traded with a positive node and settled 0.39% up. Spread yesterday traded in the range of 0 to 0.

Trading Ideas:

Mustard Seed trading range is 559-564.4.

The crop scenario for mustard shall play a pivotal role in the coming months

Mustardseed looks to take support at 560.3 and resistance at 563.

NCDEX accredited warehouses mustard seed stocks seen at 113577 tonnes.

SELL RMSEED JAN ON JUMP @ 563 SL 565 TGT 561.80-560-558.NCDEX

In the Jaipur spot market in Rajasthan the price edged up by 0.7 rupee to 570.25 rupees per 20 kgs.