Commodity Outlook for Mentha Oil by KediaCommodity

Mentha OilMentha oil July contract dropped Rs 9.9 and settled at Rs 722.1 a kg under selling pressure. On June 29th at Barabanki, the total stock was 124,8683 kg of which, physical stock accounted for 120,4093 and demat stock was 44,590 kg. The contract made intraday low of Rs 721.3 a kg and high of Rs 735.9 a kg with the volume of 2308 and total open interest for the same contact was at 4234.Now support for the menthol is seen at 717 and below could see a test of 711.8. Resistance is now likely to be seen at 731.6, a move above could see prices testing 741.

Trading Ideas:

Menthol Oil trading range is 712.1-741.

Mentha oil spot is at 790/-. Spot is down by Rs 10/-.

Resistance for the mentha oil is at 727.20 and support is at 717.

At Barabanki, the total stock was 124,8683 kg as on June 29

Mentha oil ended weak as expected under selling pressure

SELL MENTHOL JULY @ 725-728 SL 738 TGT 720-714.50-708.MCX (STBT)