Mentha oil closed session on a bullish note registered decent change. Trading largely remained range-bound as buying interest at lower level kept its momentum going. On February 24th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 881,968 kg of which 849,588 kg is physical stock and 32,379 is the demat stock. March contract gained Rs 4.3 and settled at Rs 587.7 a kg. The contract made intraday low of Rs 580.5 a kg and high of Rs 590 a kg with the volume of 1326 and total open interest for the same contact was at 2805. Now support for the menthol is seen at 582.1 and below could see a test of 576.6. Resistance is now likely to be seen at 591.6, a move above could see prices testing 595.6.

Menthol Oil trading range is 576.8-596.

Mentha oil spot is at 656/-.Spot is up by Rs. 3/-.

Resistance for Mentha oil is at 591.60 and support is at 584.40.

Total stock of mentha at MCX-monitored warehouses at Chandausi was 881,968 kg as on Feb 24.

Mentha oil closed with a bullish note due buying interest at lower level

BUY MENTHA OIL MAR @ 585-586 SL 582.20 TGT 588.20-590.80-593.50.MCX