A drastic fall was seen in mentha oil spot prices across the major physicaL markets of Sambhal, Chandausi and Barabanki regions. Spot prices in the Sambhal and Chandausi regions fell to Rs 946 per kg from the previous spot prices of Rs 955 per kg. Meanwhile, spot prices at the Barabanki market dropped to Rs 915 per kg from the previous day’s spot quotation of Rs. 925 Per Kg. According to trade source, some farmerS started to bring their produce to the physical markets to meet their expenses for growing potato. This scenario to ample arrivals in the physical market, although demand is weak.
According the secondary source, farmers still holding nearly 30% mentha oil produce. On the other hand stockists are also occupied 30-35% of mentha oil stocks. This scenario shows that there are plenty of mentha oil stocks at the spot front. Diminished demands together with the availability of enormous stocks are mainly pressurizing mentha oil prices to trade low.
Overall, the downtrend is intact for a while until the rise in winter season demand. Therefore, mentha oil prices are expected to extend their downtrend in today’s trading session.
BULLION:
Gold Projected High Range at 30144-30410
Gold Projected Low Range at 29915-29649
Gold Mcx Dec Resistance on Upside at 30315-30505-30696
Gold Mcx Dec Support on Low side at 29789-29439-29249
Gold Trend Deciding Point at 29972
Silver Projected High Range at 49933-50653
Silver Projected Low Range at 49326-48606
Silver Mcx Dec Resistance on Upside at 50394-50912-51430
Silver Mcx Dec Support on Low side at 48954-48032-47515
Silver Trend Deciding Point at 49472
BASE METALS:
Copper Projected High Range at 455-458
Copper Projected Low Range at 456-453
Copper Mcx Nov Resistance on Upside at 456-459-462
Copper Mcx Nov Support on Low side at 451-449-446
Copper Trend Deciding Point at 454
Nickle Projected High Range at 906-916
Nickle Projected Low Range at 902-892
Nickel Mcx Oct Resistance on Upside at 911-920-929
Nickel Mcx Oct Support on Low side at 891-880-871
Nickel Trend Deciding Point at 900
ENERGY:
Crude Projected High Range at 6121-6196
Crude Projected Low Range at 6178-6109
Crude Mcx Oct Resistance on Upside at 6146-6233-6321
Crude Mcx Oct Support on Low side at 6009-5959-5872
Crude Trend Deciding Point at 6096
Natural Gas Projected High Range at 224-229
Natural Gas Projected Low Range at 228-223
Natural Gas Mcx Oct Resistance on Upside at 226-232-238
Natural Gas Mcx Oct Support on Low side at 216-213-207
Natural Gas Trend Deciding Point at 223
Mentha oil Projected High Range at 849-854
Mentha oil Projected Low Range at 854-848
Mentha oil Mcx Oct Resistance on Upside at 850-858-865
Mentha oil Mcx Oct Support on Low side at 839-835-827
Mentha oil Trend Deciding Point at 846
TODAY STOCK MARKET TIPS
BUY CRUDE OIL ABOVE 6041 SL 6025 TGT 6060
SELL MENTHA OIL MCX OCT BELOW 841 SL 848 TGT 834
ECONOMIC INDICATORS:
| DATE | TIME | Region | Indicator | Period | Survey | Prior |
| 23.10.2013 | 14:00 | UK | Bank of England Minutes | — | — | — |
| 23.10.2013 | 16:30 | US | MBA Mortgage Applications | Oct | -18 | — 0.30% |
| 23.10.2013 | 18:00 | US | Import Price Index MoM | Sep | 0.20% | 0.00% |
| 23.10.2013 | 18:30 | US | House Price Index MoM | Aug | 0.80% | 1.00% |
| 23.10.2013 | 19:30 | EC | Consumer Confidence | Oct | A -14.5 | -14.9 |
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