Menthol prices traded in the range and closed below 600 level but spot market today opened firm and quoting 651rs that is up by 8-9rs. January contract gained Rs 2.3 and settled at Rs 596 a kg. The contract made intraday low of Rs 592.5 a kg and high of Rs 597.5 a kg. Now support for the menthol is seen at 593.10 and below could see a test of 590.30. Resistance is now likely to be seen at 598.10, a move above could see prices testing 600.30.

Trading Ideas:

Menthol trading range is 585-610.

Mentha oil spot is at 651/-.Spot is up by 8 rs.

Fresh Demand can be seen this week from the Pharma sector.

Mentha oil prices ended firm getting cues from spot market

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

BUY MENTHOL JAN @ 596-598 SL 594 TGT 600.20-602.50-604-608.MCX