Mentha oil ended down on continued profit booking Saturday. But the firm factors like good exporters' demand and hopes of lower planting have been supporting mentha oil prices. On May 5th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 701,330 kg of which 666,795 kg is physical stock and 34,535 is the demat stock. May contract dropped Rs 7.5 and settled at Rs 678.7 a kg. The contract made intraday low of Rs 676.1 a kg and high of Rs 688.4 a kg with the volume of 643 and total open interest for the same contact was at 3644.Now support for the menthol is seen at 673.7 and below could see a test of 668.8. Resistance is now likely to be seen at 686, a move above could see prices testing 693.4.

Trading Ideas:

Menthol Oil trading range is 668.8-693.

Mentha oil spot is at 755/-. Spot is Down by Rs. 14/-.

Resistance for the mentha oil is at 682.80 and support is at 673.70.

total stock of mentha at MCX warehouses at Chandausi was 701,330 kg as on May 5

Mentha oil ended down on continued profit booking Saturday

SELL MENTHOL MAY BELOW 677 SL 680 TGT 674.20-671.50-668.MCX