Commodity Trading Tips for Mustard Seed by KediaCommodity

Mustard SeedMustardseed yesterday traded with the positive node and settled 1.2% up at 2790 tracking firmness in oilseed counters. China sold 89,719 tonnes of rapeseed oil from state reserves on Tuesday even as the new harvest was set to unleash a large volume on the market later in the month, which could prompt Beijing to suspend the regular auctions.    The total arrivals of mustard seed decreased by 60000 bags from the previous day to 3 lakh bags in major mandies. In the Sriganganagar spot market in Rajasthan the price edged up by 25 rupee to 2650 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2759 after opening at 2761, and finally settled at 2790. For today's session market is looking to take support at 2767, a break below could see a test of 2744 and where as resistance is now likely to be seen at 2805, a move above could see prices testing 2820.

Trading Ideas:

Mustard Seed trading range is 2744-2820.

Mustardseed yesterday traded with the positive node tracking firmness in oilseed counters

Mustardseed looks to take support at 2767 and resistance at 2805.

NCDEX accredited warehouses mustard seed stocks rose by 3103 tonnes to 142747 tonnes.

In the Sriganganagar spot market in Rajasthan the price edged up by 25 rupee to 2650 rupees per 20 kgs.