Mentha oil June contract dropped Rs 2.8 and settled at Rs 755.1 a kg under moderate selling pressure. Heavy arrival in spot markets also exerted pressure on prices. Major physical markets received around 700-800 drums of new mentha oil.  The contract made intraday low of Rs 744.1 a kg and high of Rs 759 a kg with the volume of 3086 and total open interest for the same contact was at 2852.Now support for the menthol is seen at 746.5 and below could see a test of 737.8. Resistance is now likely to be seen at 761.4, a move above could see prices testing 767.6.

Trading Ideas:

Menthol Oil trading range is 737.7-768.

Mentha oil spot is at 808/-. Spot is down by Rs.10/-.

Resistance for the mentha oil is at 761.40 and support is at 750.80.

Major physical markets received around 700-800 drums of new mentha oil

Mentha oil ended down under moderate selling pressure

MENTHOL A JUMP TILL 762-765 CAN BE SEEN WILL LOOK TO SELL THERE FOR TGT 740.