Mentha oil remains in demand among bulls
Sharekhan commodity research expects mentha oil remains in demand among bulls. The research firm expects mentha oil to trade positive till Rs 1,037, which is the previous swing high. Traders can trail their stop loss at Rs 972.
June 12, 2013 / 12:06 IST
Sharekhan has come out with its commodity report on Mentha oil.
The adjoining chart is of MCX mentha oil July contract. We can observe that mentha oil has been trading in a short-term uptrend. It has been forming higher tops and higher bottoms on the daily charts. The daily momentum indicators have a positive crossover. It is currently trading above the 20- and 40-daily moving averages. Our initial target of Rs 980 has already been achieved. We expect mentha oil to trade positive till Rs 1,037, which is the previous swing high. Traders can trail their stop loss at Rs 972, which is the low it touched in the penultimate trading session.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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