MCX MENTHA OIL PRICES UP BY 0.5%

• Mentha oil futures prices today rose by 0.48% to Rs 727.50 per kg as speculators enlarged positions, supported by rising demand in the spot markets from consuming industries.
• At the Multi Commodity Exchange, Mentha oil for delivery in December gained Rs 3.50, or 0.48%, to Rs 727.50 per kg, with a trading volume of 366 lots.
• The oil for delivery in January 2015 edged up by Rs 3.30, or 0.44%, to Rs 738.60 per kg, with a business turnover of 257 lots.
• Technically market is under short covering as market has witnessed drop in open interest by -4.13% to settled at 6989.
• Menthaoil is getting support at 715 and below same could see a test of 705.9 level, and resistance is now likely to be seen at 731.1, a move above could see prices testing 738.1.