May contract dropped Rs 5.8 and settled at Rs 705.5 a kg. The contract made intraday low of Rs 701.1 a kg and high of Rs 731.7 a kg with the volume of 5585 and total open interest for the same contact was at 3842.Now support for the menthol is seen at 693.8 and below could see a test of 682.2. Resistance is now likely to be seen at 724.4, a move above could see prices testing 743.4.

Trading Ideas:

Menthol Oil trading range is 682.2-743.

Mentha oil spot is at 785/-. Spot is down by Rs. 15/-.

Resistance for the mentha oil is at 710.40

Support for mentha oil is at 700.80.

Mentha oil ended lower on intraday profit booking

SELL MENTHOL MAY BELOW 702 SL 706 TGT 698.50-693-688.MCX