Mentha oil June contract dropped Rs 6.5 and settled at Rs 721.4 a kg. The contract made intraday low of Rs 717.1 a kg and high of Rs 733.7 a kg with the volume of 1043 and total open interest for the same contact was at 2089.Now support for the menthol is seen at 714.4 and below could see a test of 707.5. Resistance is now likely to be seen at 731, a move above could see prices testing 740.7.

Trading Ideas:

Menthol Oil trading range is 707.5-741.

Mentha oil spot is at 803. Spot is up by Rs.3/-.

Resistance for the mentha oil is at 725.80.

Mentha oil looks to have a support at 714.40

Mentha oil ended down on profit booking at weekend

SELL MENTHOL JUN ON JUMP @ 730 SL 736.50 TGT 725.80-721.60-718.MCX