Technical Outlook & Trading Strategy:-
The price of Mentha oil has witnessed a smart upmove during the previous session of trade, after taking support at its key short term moving average during the past couple of trading sessions.
The key observation to be made is that yesterday’s smart upmove has led to the formation of a two bar bullish reversal pattern on its daily charts.
The prices of Mentha oil can now witness upside momentum for the upcoming few sessions of trade and it could head towards Rs 1152--Rs 1175 levels .
We recommend traders to buy between Rs 1130--Rs 1122 levels with a stop loss placed below Rs 1103.25 levels for upside targets mentioned above.
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