Mentha oil June contract dropped Rs 12.3 and settled at Rs 758 a kg on persistent selling. Mounting arrivals in spot markets constantly maintained pressure on prices. The contract made intraday low of Rs 753 a kg and high of Rs 772 a kg with the volume of 3438 and total open interest for the same contact was at 2857.Now support for the menthol is seen at 750 and below could see a test of 742. Resistance is now likely to be seen at 769, a move above could see prices testing 780.

Trading Ideas:

Menthol Oil trading range is 741.9-780.

Mentha oil spot is at 815/-. Spot is down by Rs.5/-.

Resistance for the mentha oil is at 763.60 and support is at 753.80.

Mounting arrivals in spot markets constantly maintained pressure on prices

Mentha oil ended down consecutive second day on selling pressure

BUY MENTHOL JUNE @ 748-750 SL 743 TGT 754.50-759-764.MCX