Mustardseed yesterday traded with the positive node and settled 0.65% up at 2953. The acreage under rapeseed as on Jan. 14 stood at 7.1 million hectares, compared with 6.4 million hectares during the same period a year ago, data with farm ministry showed. The total arrivals of mustard seed increased by 4000 bags from the previous day to 69000 bags in major mandies today while the spot prices were quoting at around Rs2910- 2920 per quintal at Jaipur mandi. In the Jaipur spot market in Rajasthan the price edged up by 2.5 rupee to 579.3 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2925 after opening at 2940, and finally settled at 2953. For today's session market is looking to take support at 2932.7, a break below could see a test of 2912.3 and where as resistance is now likely to be seen at 2965.7, a move above could see prices testing 2978.3.

Trading Ideas:

Mustard Seed trading range is 2912.3-2978.3.

Mustardseed yesterday traded with the positive node and settled 0.65% up

Mustardseed looks to take support at 2932.70 and resistance at 2966.

NCDEX accredited warehouses mustard seed stocks fell 2152 tonnes to 82580 tonnes.

In the Jaipur spot market in Rajasthan the price edged up by 2.5 rupee to 579.3 rupees per 20 kgs.