- Rmseed settled down -0.3% at 4046 due to weakness in spot demand amid profit booking. However downside seen limited on higher demand and weak sowing data.
- Technically market is under long liquidation as market has witnessed drop in open interest by -9.19% to settled at 27060 while prices down -12 rupee, now Rmseed is getting support at 4004 and below same could see a test of 3963 level, and resistance is now likely to be seen at 4081, a move above could see prices testing 4117.
Rmseed trading range for the day is 3963-4117.
NCDEX accredited warehouses mustard seed stocks gained by 737 tonnes to 5758 tonnes.
In the Alwar spot market in Rajasthan the price dropped -38.6 rupee to 4112.15 rupees per 20kgs.
RM SEED (JAN) OVERVIEW:
TREND :Side way
CL- 4046
S1- 3963
R1/R2/R3 - 4040/4081/4117
pivot point - 4004
Cumin (Jeera) Religare said today about the weakness is likely without a stir. NCDEX was at the closing price Rs 13260 on Friday. According to Religare today on 13120 and after that on Rs 13000 to be expected to support. While the first of up to at Rs 13 380 and Rs 13 520 in the barrier.
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