Mentha oil ended positive Saturday on short covering and firm sentiment at the physical market supported the price. May contract gained Rs 4 and settled at Rs 671.4 a kg. The contract made intraday low of Rs 662.1 a kg and high of Rs 673.6 a kg with the volume of 527 and total open interest for the same contact was at 2057.Now support for the menthol is seen at 664.5 and below could see a test of 657.5. Resistance is now likely to be seen at 676, a move above could see prices testing 680.5.

Trading Ideas:

Menthol Oil trading range is 657.5-681.

Mentha oil spot is at 748/-. Spot is down by Rs.4/-.

Resistance for the mentha oil is at 676 level

Mentha oil looks to have a support at 667.20 level.

Mentha oil ended positive Saturday on short covering

SELL MENTHOL MAY @ 674 SL 678.50 TGT 670.50-667.80-665.MCX