January contract gained Rs 5.4 and settled at Rs 592.2 a kg. The contract made intraday low of Rs 585.3 a kg and high of Rs 593 a kg. Now support for the menthol is seen at 587.30 and below could see a test of 582.40. Resistance is now likely to be seen at 595.00, a move above could see prices testing 597.80.

Trading Ideas:

Menthol trading range is 586-600.

Mentha oil spot is at 656/-.Spot is up by Rs 4/-.

Resistance for Mentha oil is at 595.10 and support is at 587.40 level

Mentha oil warehouse stocks at MCX exchange is at 794985 tonnes.

Mentha oil yesterday ended firm as some lower level buying supported the prices

SELL MENTHOL JAN ON JUMP TILL 596 SL 602 TGT 592.20-589.60-585.80. MCX