Mentha oil July contract dropped Rs 8 and settled at Rs 697.9 a kg tracking weakness in spot market. The contract made intraday low of Rs 697 a kg and high of Rs 707.2 a kg with the volume of 1883 and total open interest for the same contact was at 4495.Now support for the menthol is seen at 694.2 and below could see a test of 690.5. Resistance is now likely to be seen at 704.4, a move above could see prices testing 710.9.

Trading Ideas:

Menthol Oil trading range is 690.8-711.

Resistance for the mentha oil is at 704.40.

Mentha oil looks to take support at 694.20.

Mentha oil yesterday ended weak tracking weakness in spot market