Menthol since the starting of the week trading in the range of 590-602, due to expiry trader are caution to take fresh position as per our outlook we expect menthol to take support at 590 level and a Sharp pull back will be seen again till 602-610 level in next 2-3 trading session.

February contract gained Rs 2.1 and settled at Rs 596.6 a kg. The contract made intraday low of Rs 592.3 a kg and high of Rs 598 a kg. Now support for the menthol is seen at 593.20 and below could see a test of 589.90. Resistance is now likely to be seen at 598.90, a move above could see prices testing 601.30.

Trading Ideas:

Menthol trading range is 590-605.

Mentha oil spot is at 656/-.Spot is flat.

Resistance for Mentha oil is at 598.90 a break of this will get 605-610 level soon.

Mentha oil is getting support at 593.20 level.

Mentha oil yesterday ended positive in range bound trade lacking cues from market.

BUY MENTHOL FEB @ 593-595 SL 588 TGT 599-602.50-606.80-610.MCX