Mentha oil June contract gained Rs 7.7 and settled at Rs 704.8 a kg. The contract made intraday low of Rs 698.9 a kg and high of Rs 707.6 a kg with the volume of 975 and total open interest for the same contact was at 2118.Now support for the menthol is seen at 699.9 and below could see a test of 695.1. Resistance is now likely to be seen at 708.6, a move above could see prices testing 712.5.

Trading Ideas:

Menthol Oil trading range is 694.8-712.

Resistance for the mentha oil is at 708.60.

Support for mentha oil is seen at 699.90.

Mentha oil yesterday gained but looks to trade range bound

SELL MENTHOL MAY BELOW 688 SL 694 TGT 683.50-678-675.MCX