Mentha oil August contract dropped Rs 12.3 and settled at Rs 732.7 a kg tracking weak trend at the spot markets on subdued demand. The contract made intraday low of Rs 730.2 a kg and high of Rs 744.7 a kg with the volume of 2775 and total open interest for the same contact was at 3699.Now support for the menthol is seen at 727 and below could see a test of 721.4. Resistance is now likely to be seen at 741.5, a move above could see prices testing 750.4.

Trading Ideas:

Mentha Oil trading range is 720.9-750.

Resistance for the mentha oil is at 738.40.

Support or mentha oil is seen at 727.

Mentha oil yesterday ended lower tracking weak trend at spot markets