Mentha oil ended down yesterday on profit booking. Absence of fresh cue in physical market also weighed on prices. March contract dropped Rs 3.7 and settled at Rs 612.8 a kg. The contract made intraday low of Rs 611.2 a kg and high of Rs 617 a kg with the volume of 994 and total open interest for the same contact was at 2711.Now support for the menthol is seen at 610.3 and below could see a test of 607.9. Resistance is now likely to be seen at 616.1, a move above could see prices testing 619.5.

Trading Ideas:

Menthol Oil trading range is 607.9-619.

Mentha oil spot is at 663/-.Spot market is down by Rs 2/-.

Resistance for the mentha oil is 616.10

Mentha oil is getting support at 610.30.

Mentha oil ended down yesterday on profit booking

BUY MENTHOL MAR @ 610 SL 605.80 TGT 613.20-616.80-620.MCX