Menthol trading in the range slowly and steadily making base at 560 levels on Saturday also we have seen February contract jumped Rs 4.9 and settled at Rs 581.2 a kg. The contract made intraday low of Rs 575.6 a kg and high of Rs 582.8 a kg. Overall activity are dull and market is waiting for some support from fundamental side technically now support for the menthol is seen at 576.9 and below could see a test of 572.7. Resistance is now likely to be seen at 584.1, a move above could see prices testing 587.1.

Trading Ideas:

Menthol Oil trading range is 572.7-587.

Menthol spot is at 646/-. Spot is up by Rs. 3/-.

Resistance for mentha oil is at 586.20

Menthol support is at 570.30 level

Some bounce can be seen till 586 level as intraday support is at 576 level.

BUY MENTHOL FEB ON DIP @ 576-579 SL 570 TGT 582.50-586.20. MCX