Mentha oil prices fell by Rs 6.30, 0.74% to Rs 841.30 per kg in futures trade today as speculators booked profits amid subdued spot demand.--Menthaoil trading range for the day is 830.5-857.5.
At the Multi Commodity Exchange, mentha oil for delivery in March fell by Rs 6.30, or 0.74%, to Rs 841.30 per kg, with a business volume of 437 lots.
Similarly, mentha oil for April delivery traded down by Rs 5.60, or 0.65%, to Rs 851.90 per kg, with a business turnover of 123 lots.
Technically market is under short covering as market has witnessed drop in open interest by -2.81% to settled at 6162 while prices up 10.3 rupee, now Menthaoil is getting support at 839 and below same could see a test of 830.5 level, and resistance is now likely to be seen at 852.5, a move above could see prices testing 857.5.
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At the Multi Commodity Exchange, mentha oil for delivery in March fell by Rs 6.30, or 0.74%, to Rs 841.30 per kg, with a business volume of 437 lots.
Similarly, mentha oil for April delivery traded down by Rs 5.60, or 0.65%, to Rs 851.90 per kg, with a business turnover of 123 lots.
Technically market is under short covering as market has witnessed drop in open interest by -2.81% to settled at 6162 while prices up 10.3 rupee, now Menthaoil is getting support at 839 and below same could see a test of 830.5 level, and resistance is now likely to be seen at 852.5, a move above could see prices testing 857.5.
Get real time advice for Agri Commodity Tips , Best NCDEX Tips Provider , Agri Commodity Trading , Agri Trading Tips and all market updates. For 2 Days Free Trial , please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
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