March contract gained Rs 1.7 and settled at Rs 615.9 a kg. The contract made intraday low of Rs 611.6 a kg and high of Rs 619.9 a kg with the volume of 1424 and total open interest for the same contact was at 2938.Now support for the menthol is seen at 611.7 and below could see a test of 607.5. Resistance is now likely to be seen at 620, a move above could see prices testing 624.1.

Trading Ideas:

Menthol Oil trading range is 607.4-624.

Mentha oil spot is at 665/-.Spot market is up by Rs 4/-.

Resistance for the mentha oil is at 620 and support is at 611.70.

Total stock of mentha at MCX warehouses at Chandausi was 779,859 kg as on Mar 15.

Overall market above 610 look till 622-625 level.

BUY MENTHOL MAR @ 615-616 SL 610 TGT 619.5-622.80-625.MCX