Mentha oil marked smart gains over 1% towards the end closing over Rs 600/ kg. Mentha oil traded bullish in last three sessions on buying support. March contract gained Rs 8 and settled at Rs 601.8 a kg. The contract made intraday low of Rs 591.8 a kg and high of Rs 603.6 a kg with the volume of 1208 and total open interest for the same contact was at 3138. Now support for the menthol is seen at 594.5 and below could see a test of 587.3. Resistance is now likely to be seen at 606.3, a move above could see prices testing 610.9.

Trading Ideas:

Menthol Oil trading range is 587.3-611.

Mentha oil spot is at 662/-.Spot market is up by Rs 7/-.

Resistance for the mentha oil is at 597.70.

Mentha oil is getting support at 590.60 level

Mentha oil yesterday ended down on profit booking

BUY MENTHOL MAR ABV 602 SL 598 TGT 605.20-607.50-609. MCX