Mentha oil August contract gained Rs 8.9 and settled at Rs 734 a kg on fresh buying. On August 7th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 9,26,710 kg of which 8,44,642 kg is physical stock and 82,068 is the demat stock. The contract made intraday low of Rs 726 a kg and high of Rs 734.3 a kg with the volume of 2535 and total open interest for the same contact was at 4879.Now support for the menthol is seen at 728.6 and below could see a test of 723.1. Resistance is now likely to be seen at 736.9, a move above could see prices testing 739.7.

Trading Ideas:

Menthol Oil trading range is 722.8-739.

Resistance for the mentha oil is at 736.90

Support for mentha oil is seen at 728.60.

Mentha oil ended higher yesterday on fresh buying