Mentha oil has target of Rs 1220

MTECHTIPS

Mentha oil has target of Rs 1220

Mtechtips has come out with its report on menthe oil. The research firm expects mentha oil to trade with a positive bias going ahead for a target of Rs 1220.
The adjoining chart is of MCX mentha oil October contract. Mentha oil has been in a sharp correction for the past few trading sessions. In the last trading session it retested the channel break-out. The momentum indicators have a positive crossover. We expect mentha oil to trade with a positive bias going ahead for a target of Rs1,220, which is the key 38.2% retracement level. The reversal of the bullish stance is placed below Rs 1122.

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