Commodity Trading Tips for Wheat by KediaCommodity

Mustardseed yesterday traded with the negative node and settled -0.26% down at 2698 tracking weakness in spot market demand. The total arrivals ofmustard seed increased by 185000 bags from the previous day to 4.10 lakh bags in major mandies. In the Sriganganagar spot market in Rajasthan the price edged down by -15 rupee to 2525 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2684 after opening at
2701, and finally settled at 2698. For today's session market is looking to take support at 2685.3, a break below could see a test of 2672.7 and where as resistance is now likely to be seen at 2709.3, a move above could see prices testing 2720.7.

Trading Ideas:

Mustard Seed trading range is 2672.7-2720.7.

Mustardseed yesterday traded with the negative node tracking weakness in spot market demand

Mustardseed looks to take support at 2685.30 and resistance at 2709.

NCDEX accredited warehouses mustard seed stocks rose by 706 tonnes to 1919 tonnes.

In the Sriganganagar spot market in Rajasthan the price edged down by -15 rupee to 2525 rupees per 20 kgs.

(Source: http://www.topnews.in/commodity-trading-tips-wheat-kediacommodity-2320957)