Mustardseed yesterday traded with the positive node and settled 0.75% up at 2834 on the heels of strong export demand of mustard meal. The total exports of mustard meal for the month of April 2011 was at 1.42 lakh tonnes compared to 1.17 lakh tonnes in the corresponding period of the previous year. In the Sriganganagar spot market in Rajasthan the price edged up by 47.5 rupee to 2720 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2822 after opening at 2823, and finally settled at 2834. For today's session market is looking to take support at 2821, a break below could see a test of 2808 and where as resistance is now likely to be seen at 2848, a move above could see prices testing 2862.

Trading Ideas:

Mustard Seed trading range is 2808-2862.

Mustardseed ended up on the heels of strong export demand of mustard meal

Mustardseed looks to take support at 2821 and resistance at 2848.

NCDEX accredited warehouses mustard seed stocks rose by 1670 tonnes to 152733 tonnes.

In the Sriganganagar spot market in Rajasthan the price edged up by 47.5 rupee to 2720 rupees per 20 kgs.