Mentha oil July contract dropped Rs 0.4 and settled at Rs 705 a kg due to lack of cues in market. The contract made intraday low of Rs 702.2 a kg and high of Rs 709.4 a kg with the volume of 1463 and total open interest for the same contact was at 4498.Now support for the menthol is seen at 701.7 and below could see a test of 698.3. Resistance is now likely to be seen at 708.9, a move above could see prices testing 712.7.

Trading Ideas:

Menthol Oil trading range is 698.6-713.

Mentha oil spot is at 773/-. Spot is down by Rs. 4/-.

Resistance for the mentha oil is at 708.90.

Mentha oil looks to take support at 701.70.

Mentha oil yesterday ended flat due to mixed in market

SELL MENTHOL JULY BELOW 702 SL 710.20 TGT 696.50-692.20-687.MCX