Mentha oil ended higher getting support from physical market as traders made good buying. May contract dropped Rs 14 and settled at Rs 693.9 a kg. The contract made intraday low of Rs 673.5 a kg and high of Rs 698.5 a kg with the volume of 2421 and total open interest for the same contact was at 3053.Now support for the menthol is seen at 678.8 and below could see a test of 663.6. Resistance is now likely to be seen at 703.8, a move above could see prices testing 713.6.

Trading Ideas:

Menthol Oil trading range is 663.6-714.

Mentha oil spot is at 775/-.Spot is up by Rs.12/-.

Resistance for the mentha oil is at 697.80 level

Mentha oil looks to have a support at 686.60 level.

Mentha oil ended higher getting support from physical market

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