MCX Mentha Oil likely to move in a range of 1279.3 1313.3
India, Dec. 6 -- Technically Mentha Oil market is under fresh buying as market has witnessed gain in open interest by 1. 62% to settled at 755 while prices up 1.8 rupees.Now MCX Mentha Oil is getting support at 1289.6 and below same could see a test of 1279.3 levels and resistance is now likely to be seen at 1306.6 a move above could see prices testing 1313.3.Mentha Oil on MCX settled up by 0.14% at 1299.8 as low level buying seen as demand season starts. As per Central Institute of Medicinal and Aromatic Plants (CIMAP) mentha sowing touched 3 lakh ha. Sowing witnessed a huge jump this year because of high returns farmers experienced the whole of last year.The surge in output is likely due to buoyancy in planting intentions not only in the ...
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