Technical Outlook & Trading Strategy:-
We reiterate our bullish bias on Mustard seed. The price of mustard seed have witnessed a smart upmove over the past few sessions of trade, after consolidating around its key moving average clusters for the past few sessions of trade.
Also, the recent upmove witnessed over the past few sessions of trade have been backed up by strong rise in volume, which is a sign of buying interest in the counter.
The RSI indicator has also come out of the oversold territory backed by a positive divergence.
Traders who have entered into long positions as per our previous updates can take part profits and trail stop to cost, while traders who wish to take long position can buy between Rs 2977--rs 2965 levels with a stoploss placed below Rs 2937 levels for upside targets of Rs 3010 / Rs 3025 levels, expected to be achieved over the upcoming 3-5 sessions of trade.
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