Mentha Oil fell by 0.44% to Rs 753 per kg in futures trade today amid sluggish demand from consuming industries in spot market and adequate supplies from producing regions.
MCX MENTHA OIL for delivery in March declined by Rs 3.40, or 0.44%, to Rs 753 per kg in a business turnover of 76 lots.
The oil for delivery in February shed Rs 3, or 0.40%, to Rs 742.60 per kg in 135 lots.
Mentha oil arrivals to the spot market, especially from the Chandausi in Uttar Pradesh, have increased substantially. The resulting fall in prices was capped due to lower production of the commodity this season.
Technically market is under long liquidation as market has witnessed drop in open interest by -2.06% to settled at 8362 while prices down -4.4 rupee, now Menthaoil is getting support at 741.8 and below same could see a test of 738 level, and resistance is now likely to be seen at 752, a move above could see prices testing 758.4. 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 .MCX MENTHA OIL for delivery in March declined by Rs 3.40, or 0.44%, to Rs 753 per kg in a business turnover of 76 lots.
The oil for delivery in February shed Rs 3, or 0.40%, to Rs 742.60 per kg in 135 lots.
Mentha oil arrivals to the spot market, especially from the Chandausi in Uttar Pradesh, have increased substantially. The resulting fall in prices was capped due to lower production of the commodity this season.
Technically market is under long liquidation as market has witnessed drop in open interest by -2.06% to settled at 8362 while prices down -4.4 rupee, now Menthaoil is getting support at 741.8 and below same could see a test of 738 level, and resistance is now likely to be seen at 752, a move above could see prices testing 758.4. 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
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