Mentha oil July contract gained Rs 8 and settled at Rs 732.1 a kg due to lower-level buying support. On June 29th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 776,951 kg of which 744,573 kg is physical stock and 32,377 is the demat stock. The contract made intraday low of Rs 723.1 a kg and high of Rs 736.4 a kg with the volume of 2428 and total open interest for the same contact was at 4218.Now support for the menthol is seen at 724.7 and below could see a test of 717.2. Resistance is now likely to be seen at 738, a move above could see prices testing 743.8.

Trading Ideas:

Menthol Oil trading range is 717.2-744.

Mentha oil spot is at 810. Spot is up by Rs.3/-.

Resistance for the mentha oil is at 738 and support is at 724.70

Total stock of mentha at MCX warehouses at Chandausi was 776,951 kg as on June 29

Mentha oil ended higher due to lower-level buying support

SELL MENTHOL JULY ON JUMP @ 736-738 SL 742 TGT 732.50-728.60-725.MCX