Mentha oil prices as per expectation jumped yesterday above 630 level as told but failed to sustain the same and ended 1% down on profit booking after rising in previous sessions. December contract dropped Rs 5.6 and settled at Rs 624.7 a kg. The contract made intraday low of Rs 622.7 a kg and high of Rs 633.5 a kg.

Now support for the menthol is seen at 620.40 and below could see a test of 616.10. Resistance is now likely to be seen at 631.20, a move above could see prices testing 637.70.

Trading Ideas:

MENTHOL TRADING RANGE IS 610-635.

MENTHOL SPOT IS AT 656/-.SPOT IS DOWN BY RS 10/-.

SELL MENTHOL DEC BELOW 622 SL 625 TGT 620-618.60-615. MCX

BUY MENTHOL DEC @ 610-613 SL 606.50 TGT 618.50-622.20-628. MCX

RESISTANCE FOR MENTHA OIL IS AT 626.80.

MENTHOL PRICES YESTERDAY ENDED DOWN ON PROFIT BOOKING