Mentha oil ended flat due to lack of arrival in the market which affected the Mentha prices.
As of October 29th, 2009 total stock of Mentha oil at MCX-monitored warehouses at Chandausi is 6, 10,751.00 kg of which 6, 05,710.00 kg is the physical stock and 5,041.250 is the demat stock.
November contract gained Rs 0.8 and settled at Rs 525.6 a kg. The contract made intraday low of Rs 523.7 a kg and high of Rs 527.9 a kg. Now support for the menthol is seen at 523.50 and below could see a test of 521.50. Resistance is now likely to be seen at 527.70, a move above could see prices testing 529.90.
Trading Ideas: MENTHOL TRADING RANGE IS 517-531.
MENTHAOIL SPOT IS AT 557. SPOT IS DOWN BY RS. 4/-
BUY MENTHOL AT 522-524 SL 518.80 TGT 526-529-532.
MENTHA OIL A JUMP TOWARDS 528-530 LVL IS EXPECTED
NOW RES IS AT 526.80 ABV THIS NEXT RES IS AT 528.50-530.90.
MENTHA OIL ENDED FLAT LOWER DUE TO LACK OF ARRIVAL
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