Mentha oil yesterday as per expectation ended down on technical selling. May contract dropped Rs 10.8 and settled at Rs 653 a kg. The contract made intraday low of Rs 651.1 a kg and high of Rs 659.2 a kg with the volume of
676 and total open interest for the same contact was at 1845. Now support for the menthol is seen at 649.7 and below could see a test of 646.3. Resistance is now likely to be seen at 657.8, a move above could see prices testing
662.5.

Trading Ideas:

Menthol Oil trading range is 646.3-662.

Mentha oil spot is Rs. 728/-.Spot is down by Rs 12/.

Resistance for the mentha oil is at 657.80.

Support for mentha oil is at 649.70.

Mentha oil yesterday ended down on technical selling.

SELL MENTHOL MAY BELOW 648 SL 652 TGT 645-642.20-639. MCX