Business Analytics Wing

Mentha Oil Insight

15 June 2018
Technical Recommendation:
Commodity Contract S2 S1 CLOSE R1 R2 Recommendations
Mentha Oil MCX Jun-18 1135.1 1144.9 1156.6 1165.0 1170.7 Trading Range 1130-1170

Review:
MCX mentha oil futures traded on positive note for the second day in a row on Thursday on extended short covering
with muted trade participation. However, spot markets witnessed sluggish trend because of fresh arrivals across all
market. Most active June contract futures made an intraday high of Rs. 1165.20 per kg from the low of Rs. 1138.00
per kg and ended the session at Rs. 1156.60 per kg gaining by 1.07%.
Outlook:
MCX mentha oil futures are expected to trade in the range during early trading hours on extended short covering.
However, in late trading hours market is expected to resume the downtrend on resumption of selling pressure.
Bumper crop harvest and peak arrival season would keep the cap of rise in the prices. According to preliminary
estimates, menthe oil production in 2018-19 would be 40,000 – 45,000 MTs against last year’s production of 35,000
MTs.
MCX Futures Price Daily Performance
Contract Open High Low Close % Change Volume % Change Open Interest % Change
Jun-18 1149.90 1165.20 1138.00 1156.60 1.07% 1122 -39.5% 1081 -1.6%
Jul-18 1155.00 1180.00 1150.20 1171.20 1.31% 533 0.9% 693 15.1%
Derivative Analysis: Spread Analysis (Jul-Jun)
2000 1240
1220 18
16
1500 1200
14
1180
12
1160
1000 10
1140 8
1120 6
500 1100 4
1080 2
0 1060 0

Open Interest Volume Price

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Commodity Research Desk
Mentha Oil Insight

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