Mentha oil futures slip tracking weak spot prices
Around 1.45 pm, mentha oil prices were trading at Rs 1,336.40 a kg, down Rs 2 or 0.15 per cent.
Mentha oil prices slipped in futures trade on Tuesday tracking weakness in the spot market.
Speculators raised bets on mentha oil futures in the morning trade due to high demand season in August for the commodity, but weakness emerged as spot prices fell in the spot market.
Around 1.45 pm, mentha oil prices were trading at Rs 1,336.40 a kg, down Rs 2 or 0.15 per cent.
"Mentha oil August futures is maintaining the positive bias from lower levels made on the last trading sessions and now sustaining above the Rs 1,300 levels on the daily chart. It is also trading above 50-day moving average on the same chart and MACD has now shown upward crossover," Romesh Tiwari, Head of Research, CapitalAim said.
Speculators raised bets on mentha oil futures in the morning trade due to high demand season in August for the commodity, but weakness emerged as spot prices fell in the spot market.
Around 1.45 pm, mentha oil prices were trading at Rs 1,336.40 a kg, down Rs 2 or 0.15 per cent.
"Mentha oil August futures is maintaining the positive bias from lower levels made on the last trading sessions and now sustaining above the Rs 1,300 levels on the daily chart. It is also trading above 50-day moving average on the same chart and MACD has now shown upward crossover," Romesh Tiwari, Head of Research, CapitalAim said.