ended firm on Saturday as firm cues from physical market aided the sentiments. Total stock of mentha oil at MCX-monitored warehouses at Chandausi was 660,287 kg of which 625,751 kg is physical stock and 34,535 is the demat stock. May contract gained Rs 9.4 and settled at Rs 663.8 a kg. The contract made intraday low of Rs 652.4 a kg and high of Rs 666.5 a kg with the volume of 989 and total open interest for the same contact was at 1916.Now support for the menthol is seen at 655.3 and below could see a test of 646.8. Resistance is now likely to be seen at 669.4, a move above could see prices testing 675.

Trading Ideas:

Menthol Oil trading range is 646.8-675.

Mentha oil spot is Rs.740/-.Spot is down by Rs 2/.

Resistance for the mentha oil is at 667.60 and support is at 660.10.

Total stock of mentha at MCX warehouses at Chandausi was 660,287 kg

Mentha oil ended firm getting firm cues from physical market

SELL MENTHOL APR BELOW 660 SL 665.50 TGT 656.20-552.50-548.MCX