Mustardseed yesterday traded with the positive node and settled 2.83% up at 2942. The total sowing acreage of mustard seed stood at 71 lakh hectares against 64 lakh hectares reported last year on 07TH January 2010, up 7.20%. The total arrivals of mustard seed decreased by 9000bags from the previous day to 58000 bags in major mandies In the Jaipur spot market in Rajasthan the price edged up by 2.95 rupee to 569.6 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2856 after opening at 2865, and finally settled at 2942. For today's session market is looking to take support at 2884.7, a break below could see a test of 2827.3 and where as resistance is now likely to be seen at 2970.7, a move above could see prices testing 2999.3.

Trading Ideas:

Mustard Seed trading range is 2826-2998.

Mustardseed yesterday traded with the positive node and settled 2.83% up

Mustardseed looks to take support at 2884.7 and resistance at 2971.

NCDEX accredited warehouses mustard seed stocks rose 316 tonnes to 85000 tonnes.

BUY RMSEED FEB @ 2925 SL 2910 TGT 2938-2960.NCDEX

In the Jaipur spot market in Rajasthan the price edged up by 2.95 rupee to 569.6 rupees per 20 kgs.