On Wednesday's Report By Best Commodity Tips Provider Mentha oil rise in purchases from the lower level, metha oil has seen a slight increase. The march contract of Mentha Oil at commodity exchange MCX rose by Rs 9.10, or 0.56 per cent to Rs 1,627.60 per kilo, around 10.30 am this morning.
According to Rudra Investment of the commodities and currency department, Mentha Oil is looking at a lower level purchase, but this fast is not very durable. Further prices are again indicative of pressure.
They says that MCX should sell in the current (March) contract of Mentha Oil at around Rs. 1650 / -. Investors are advised to put a stoploss at Rs 1675. In the next two trading sessions, the price of Metha Oil could drop to Rs 1610 per kg. The trend of increasing the sowing of mentha from the mentha producing areas is showing. According to earlier reports, the area under sowing of mentha may increase this year.
According to (Commodity Research), in today's business, mentha oil's March contracts are advised to sell at a faster rate. Investors are advised to sell around 1645-1650 rupees per kilogram. Keeping a stoploss at an investment of Rs 1665, investors should set a target of 1620 rupees per kg in today's business.
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