January contract gained Rs 4.1 and settled at Rs 596.8 a kg. The contract made intraday low of Rs 592.5 a kg and high of Rs 598 a kg. Now support for the menthol is seen at 593.50 and below could see a test of 590.20. Resistance is now likely to be seen at 599.00, a move above could see prices testing 601.20.

Trading Ideas:

Menthol trading range is 585-610.

Mentha oil spot is at 644/-.Spot is flat.

Mentha oil is having strong support at 594.80 level ended higher on short covering

A break above 600 mark will rally till 608-615 level.

Due to Holiday ahead market is trading in the range.

BUY MENTHOL JAN @ 594-595 SL 591 TGT 598.80-600-604.MCX