Mentha oil prices rose 0.55% to Rs 1,006.30 per kg in futures trading today amid tight supplies from producing regions.
Besides, pickup in demand from consuming industries supported the upside.
At Multi Commodity Exchange, mentha oil for delivery in July moved up by Rs 5.50, or 0.55% to Rs 1006.30 per kg in a business turnover of 454 lots.
The oil for delivery in August contracts also traded higher by Rs 4.30, or 0.42% to Rs 1024.60 per kg in 185 lots.
Technically market is under long liquidation as market has witnessed drop in open interest by -1.18% to settled at 7620 while prices down -24 rupee, now Mentha oil is getting support at 984.4 and below same could see a test of 968 level, and resistance is now likely to be seen at 1028.2, a move above could see prices testing 1055.6.
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave-liable on Twitter , linkedin and facebook .Get real time advice for Agri Commodity Tips , Commodity free tips , Commodity intraday tips , Agri commodity calls , free commodity tips and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
0 comments:
Post a Comment