Technical Outlook & Trading Strategy:-
We reiterate our bullish bias on Mentha Oil. The key observation to be made is that the clusters of key moving averages have been providing strong support for the prices of Mentha oil.
The prices witnessed a strong upmove during the previous session of trade. We believe that the upward momentum is likely to continue for the upcoming few sessions of trade and test levels of Rs 1160. The RSI indicator has also given a fresh buy signal.
We recommend traders to buy between Rs 1139--Rs 1135 levels with a stoploss placed below Rs 1121.40 levels for upside targets of Rs 1160 / Rs 1175, expected to be achieved over the upcoming 2-3 sessions of trade.
No comments:
Post a Comment