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Mentha Oil- Buy for first target of 1205..on break of 1205 target revised to 1245

07 Sept 2017

In our last mail while we said that temperory top has been formed at 1230 and correction can be seen towards 1080 levels however as per the chart formation stiff support is seen around 1155-1165 levels which has been holding for last few sessions hence it will not a surprise to see mentha prices testing 1205 again in a day or two .As seen on the chart a traingle formation is seen where now support is seen at 1165 and resisitance at 1205.A breakout of 1205 cannot be ruled out to make a fresh attempt towards 1250-1280 levels in coming weeks.

Buy at 1178 with sl at 1150 and tp at 1250

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