March 19, 2011

Commodity Mustard seed Trade Firmness in Positive Node

The commodity trade in Mustardseed for yesterday traded with the positive upside and settled 0.55% up at 2722 tracking firmness in other oil seed counters.

The commodity total arrivals of mustard seed increased by 55000 bags from the previous to 4.30 lakh bags in major mandies. In the Sriganganagar spot market in Rajasthan the price edged down by -12.5 rupee to 2647.5 rupees per 20 kgs.

In  yesterday's commodity trading session Mustardseed has touched the low of 2703 after opening at 2717, and finally settled at 2722.

It is expected for todays session that market is looking to take support at 2704.3, a break below could see a test of 2686.7 and where as resistance is now likely to be seen at 2738.3, a move above could see prices testing 2754.7.

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