Mentha oil June contract dropped Rs 32.1 and settled at Rs 770.3 a kg hampered by heavy profit booking. Arrival pressure in spot markets also exerted pressure on prices. The contract made intraday low of Rs 770.3 a kg and high of Rs 797 a kg with the volume of 2208 and total open interest for the same contact was at 2868.Now support for the menthol is seen at 761.4 and below could see a test of 752.5. Resistance is now likely to be seen at 788.1, a move above could see prices testing 805.9.

Trading Ideas:

Menthol Oil trading range is 752.5-806.

Mentha oil spot is at 841/-. Spot is down by Rs.21/-.

Resistance for the mentha oil is at 775.20 and support is at 764.80.

Arrival pressure in spot markets also exerted pressure on prices

Mentha oil ended down to 4% lower circuit on heavy profit booking

SELL MENTHOL JUNE BELOW 767 SL 774 TGT 763.50-760-756.MCX