Mentha oil yesterday ended firm tacking firmness in spot market. A major exporter's active trading has fuelled prices to rose. May contract gained Rs 14.7 and settled at Rs 670 a kg. The contract made intraday low of Rs 655 a kg and high of Rs 672.6 a kg with the volume of 1815 and total open interest for the same contact was at 1993.Now support for the menthol is seen at 659.1 and below could see a test of 648.3. Resistance is now likely to be seen at 676.7, a move above could see prices testing 683.5.

Trading Ideas:

Menthol Oil trading range is 648.3-684.

Mentha oil spot is Rs.752/-.Spot is up by Rs 12/.

Resistance for the mentha oil is at 673.80

Support for mentha oil is at 665.20 level.

Mentha oil yesterday ended firm tacking firmness in spot market

BUY MENTHOL MAY @ 665-666 SL 662 TGT 670-673.50.MCX (CORRECTION DUE)