Mentha oil prices rose by 1.19% to Rs 857.10 per kg in futures trade today on the back of increased demand from domestic and overseas markets.Trading range for the day is 813.3-851.5
At the MCX mentha oil for delivery in April rose by Rs 10.10, or 1.19%, to Rs 857.10 per kg, clocking a business volume of 183 lots.
The oil for March contracts traded higher by Rs 9.40, or 1.12%, to Rs 846.70 per kg, with a trading volume of 559 lots.
Menthaoil settled up 1.96% at 837.3 on the back of rising demand. Moreover, restricted arrivals from Chandausi in Uttar Pradesh too influence the price of mentha oil. At Barabanki market estimated market supply was at 200 Drums(1-drum-180kg), up by 100 Drums(1-drum-180kg) from previous trading day.
Technically market is under fresh buying as market has witnessed gain in open interest by 1.5% to settled at 6340 while prices up 16.1 rupee, now Mentha oil is getting support at 825.3 and below same could see a test of 813.3 level, And resistance is now likely to be seen at 844.4, a move above could see prices testing 851.5.
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At the MCX mentha oil for delivery in April rose by Rs 10.10, or 1.19%, to Rs 857.10 per kg, clocking a business volume of 183 lots.
The oil for March contracts traded higher by Rs 9.40, or 1.12%, to Rs 846.70 per kg, with a trading volume of 559 lots.
Menthaoil settled up 1.96% at 837.3 on the back of rising demand. Moreover, restricted arrivals from Chandausi in Uttar Pradesh too influence the price of mentha oil. At Barabanki market estimated market supply was at 200 Drums(1-drum-180kg), up by 100 Drums(1-drum-180kg) from previous trading day.
Technically market is under fresh buying as market has witnessed gain in open interest by 1.5% to settled at 6340 while prices up 16.1 rupee, now Mentha oil is getting support at 825.3 and below same could see a test of 813.3 level, And resistance is now likely to be seen at 844.4, a move above could see prices testing 851.5.
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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