Mentha oil May contract gained Rs 0.7 and settled at Rs 679.2 a kg as some short covering is witnessed in the market. The contract made intraday low of Rs 674.8 a kg and high of Rs 684 a kg with the volume of 1757 and total open interest for the same contact was at 3564.Now support for the menthol is seen at 674.7 and below could see a test of 670.1. Resistance is now likely to be seen at 683.9, a move above could see prices testing 688.5.

Trading Ideas:

Trading Ideas:

Menthol Oil trading range is 670.1-689.

Mentha oil spot is at 777/-. Spot is Up by Rs. 5/-.

Resistance for the mentha oil is at 683.90.

Support for mentha oil is seen at 674.70

Mentha oil settled firm as some short covering is witnessed in the market

SELL MENTHOL MAY @ 685-688 SL 694 TGT 680-676-672.MCX