For More Update Click Here http://ripplesadvisory.com Or One missed call on @9303093093.

Mentha oil futures were trading lower during morning trade in the domestic market on Monday as investors and speculators remained on the sidelines in the agri-commodity amid slide in physical demand for mentha oil from major consuming industries in the domestic spot market.Menthaoil on MCX settled up 1.02% at 1042.6 taking positive cues from spot market on rising demand. Besides, fall in supplies from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend.

At the MCX, mentha oil futures for January 2017 contract is trading at Rs 1034.50 per kg, down by 0.78% , after opening at Rs 1038.20, against the previous closing price of Rs 1042.60. It touched the intra-day low of Rs 1032.20.

Technically market is under short covering as market has witnessed drop in open interest by -2.48% to settled at 3428, now Menthaoil is getting support at 1034.2 and below same could see a test of 1025.8 level, And resistance is now likely to be seen at 1047.9, a move above could see prices testing 1053.2.