Mentha oil ended higher on robust lower-level buying support. Firm advices from physical markets also fuelled prices to shoot higher. Meanwhile, arrival of fresh mentha oil starts by next month. JUNE contract gained Rs 20.8 and settled at Rs 713 a kg. The contract made intraday low of Rs 696.6 a kg and high of Rs 713 a kg with the volume of 3290 and total open interest for the same contact was at 3856.Now support for the menthol is seen at 702.1 and below could see a test of 691.1. Resistance is now likely to be seen at 718.5, a move above could see prices testing 723.9.

Trading Ideas:

Menthol Oil trading range is 691.1-724.

 Mentha oil spot is at 800/-. Spot is up by Rs. 12/-.

Resistance for the mentha oil is at 718.20 and support is at 708.60

Arrival of fresh mentha oil starts by next month

Mentha oil ended higher on robust lower-level buying support

BUY MENTHOL MAY @ 704-706 SL 699 TGT 710-716.50.MCX