Mentha oil on Saturday crossed the 800 mark on firm spot market. Still market looks to trade in positive zone but some profit booking can b=e seen. Mentha oil June contract gained Rs 27.1 and settled at Rs 802.4 a kg. The contract made intraday low of Rs 774.4 a kg and high of Rs 806.3 a kg with the volume of 2811 and total open interest for the same contact was at 2966.Now support for the menthol is seen at 782.4 and below could see a test of 762.5. Resistance is now likely to be seen at 814.3, a move above could see prices testing 826.3.

Trading Ideas:

Menthol Oil trading range is 762.5-826.

Mentha oil spot is at 835/-. Spot is down by Rs.17/-.

Resistance for the mentha oil is at 807.20

Support for mentha oil is at 796.80.

Mentha oil ended above 800 mark on firm spot market

SELL MENTHOL JUNE BELOW 798 SL 804 TGT 793.50-789-784.50.MCX