Technical Outlook & Trading Strategy:-
The key observation to be made on the intraday price charts of Mustard seed is that the price has registered an inverted head & shoulders price pattern breakout above its neckline line resistance level of Rs 2840 levels during the previous session.
The formation of this bullish reversal pattern augurs very well for the future price movements of Mustard seed and the price is likely to trade with a positive bias in the near term to short term.
The key momentum indicators are also showing signs of strength in the counter.
We recommend traders to buy between Rs 2845--Rs 2835 levels with a stop loss of Rs 2827 levels for immediate targets of Rs 2865 / Rs 2880 levels expected to be achieved over the upcoming 1-2 sessions of trade.
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