Mustardseed yesterday traded with the negative node and settled -0.31% down at 2885 on fresh selling pressure tracking weakness in other oilseed counters. Prices in physical markets have shown some weakness amidst increased arrivals. It still seems that higher levels will witness selling pressure. The total arrivals of mustard seed decreased by 1000 bags to 63000 bags in major mandies. In the Alwar spot market in Rajasthan the price edged up by 2.55 rupee to 2950.8 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2880 after opening at 2885, and finally settled at 2885. For today's session market is looking to take support at 2875, a break below could see a test of 2865 and where as resistance is now likely to be seen at 2900, a move above could see prices testing 2915.

Trading Ideas:

Mustard Seed trading range is 2865-2915.

Mustardseed ended down on selling pressure tracking weakness in other oilseed counters

Prices in physical markets have shown some weakness amidst increased arrivals

NCDEX accredited warehouses mustard seed stocks dropped by 332 tonnes to 185069 tonnes.

In the Alwar spot market in Rajasthan the price edged up by 2.55 rupee to 2950.8 rupees per 20 kgs.