Mentha oil ended higher and made new contracts high on buying support. Demand in physical markets garnered support to prices along with robust stockists buying. On March 6th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 8,40,969 kg of which 8,07,149 kg is physical stock and 33,819 is the demat stock. March contract gained Rs 16.2 and settled at Rs 618 a kg. The contract made intraday low of Rs 602.2 a kg and high of Rs 619 a kg with the volume of 2888 and total open interest for the same contact was at 3184.Now support for the menthol is seen at 607.1 and below could see a test of 596.3. Resistance is now likely to be seen at 623.9, a move above could see prices testing 629.9.

Trading Ideas:

Menthol Oil trading range is 595-629.

Mentha oil spot is at 676/-.Spot market is up by Rs 14/-.

Resistance for the mentha oil is at 621.80 and support is at 614.60.

Total stock of mentha at MCX-monitored warehouses at Chandausi was 8,40,969 kg as on Mar 6

Mentha oil ended higher getting support from physical market with robust stockists buying

BUY MENTHA OIL MAR @ 610-613 SL 604 TGT 618-622-624.MCX