Mentha oil yesterday jumped in the afternoon session after opening lower as per expectation. The jump in the mentha oil is seen due to some short covering as well the traders are taking active part. November contract gained Rs 12.8 and settled at Rs 579.4 a kg. The contract made intraday low of Rs 566.4 a kg and high of Rs 582.3 a kg. Now support for the menthol is seen at 569.70 and below could see a test of 560.10. Resistance is now likely to be seen at 585.60, a move above could see prices testing 591.90.

Trading Ideas:

MENTHOL TRADING RANGE IS 564-590.

MENTHAOIL SPOT IS AT 613. SPOT IS UP BY RS. 18/-

BUY MENTHOL DEC @ 585-589 SL 580 TGT 594-598.20-601.50.MCX

MENTHA OIL ABV 582 LOOKS TILL 586-589 LEVEL.

NOW RES IS AT 582.20 ABV THIS NEXT RES IS AT 585.80-589.50.

MENTHA OIL YESTERDAY UP ON FIRM DEMAND IN SPOT MARKET