Analyst Of Commodity Market Expert
said Mentha oil prices also fell on Wednesday. In January, the January contract
of Mentha Oil dropped by 1.35 per cent or 20.30 rupees, and slipped below Rs
1,500 per kilogram on commodity exchange MCX in early trading.
According to Rudra Investment, Commodity
Market Expert, investors should sell in today's business. For investors, advice
on selling MCX on December futures is around 1490-1500 rupees. In today's
business, the price of mentha oil could show a level of Rs 1,450 per kg.
Investors should place a stopholos in January contract at a price of Rs 1520.
This business advice (goal) of Kedia is for the next 2-3 business sessions.
According to Rudra Investment,
"the demand for mentha oil from the industry remains weak." Apart
from this, the partnership between the traders and the investors has declined.
Open interest in the January contract at MCX around 10.15 in the morning was a
3-month low level around.
According To Commodity Market Expert
There is a possibility of further fall in Mentha Oil from the existing level.
In such a scenario, investors are advised to buy on the decline. Investors
should purchase at the level of 1460 rupees in Jan Contract. In one of two
business sessions, the price of mentha oil can again cross Rs 1500. They say
that the market has technically been overloaded.
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