Menthol February contract jumped by Rs 14.2 and settled at Rs 574.1 a kg on short covering and profit booking, as spot market was flat and trading in the range trader look to have some consolidation in the prices. The contract made intraday low of Rs 558.6 a kg and high of Rs 574.8 a kg. Now support for the menthol is seen at 563.5 and below could see a test of 553. Resistance is now likely to be seen at 579.7, a move above could see prices testing 585.4.

Menthol Oil trading range is 552.6-585.

Menthol spot is at 641/-. Spot is up by Rs.10/-.

Resistance for mentha oil is at 577.20

Menthol support is at 570.30 level

Menthol February jumped by Rs 14.2 on short covering

SELL MENTHA OIL FEB @ 574-575 SL 580.20 TGT 568-561.50-558.60-555.20.MCX (1-2 DAYS)