Menthol oil yesterday traded with the positive node and settled 1.13% up at 647. In yesterday's trading session menthol oil has touched the low of 642 after opening at 645, and finally settled at 647. For today's session market is looking to take support at 641.5, a break below could see a test of 636.1 and where as resistance is now likely to be seen at 652.9, a move above could see prices testing 658.9. Spread between menthol oil APR & MAY contacts yesterday ended at -1.50, we have seen yesterday that the menthol oil market had traded with a positive node and settled 1.13% up. Spread yesterday traded in the range of -5.4 to -1.5.

Trading Ideas:

Menthol Oil trading range is 636.1-659.

Mentha oil spot is at 724/-.Spot is up by Rs 17/-.

Resistance for the mentha oil is at 652.90 and support is at 644.20

Spread between menthol oil APR & MAY contracts traded in the range of -5.4 to -1.5

Mentha oil yesterday ended higher on firm cues from physical markets

BUY MENTHOL APR @ 647-649 SL 643 TGT 652-655-659.MCX