Menthol yesterday in the early session shown some support as spot market yesterday in the day session was up by 5rs but latter again some selling pressure had been seen in the market and on mcx December contract dropped Rs 7.1 and settled at Rs 585.5 a kg. And spot market ended low with a drop of Rs. 5 quoting at 644 level.

The contract made intraday low of Rs 584.3 a kg and high of Rs 595 a kg. Now support for the menthol is seen at 581.50 and below could see a test of 577.50. Resistance is now likely to be seen at 592.20, a move above could see prices testing 598.90.

Trading Ideas:

MENTHOL TRADING RANGE IS 570-600.

MENTHOL SPOT IS AT 644/-.SPOT IS DOWN BY 5/-.

SUPPORT FOR MENTHA OIL IS AT 581.20.

TODAY SOME PULL BACK CAN BE SEEN ABV 589 TILL 594-596 LEVEL.

MENTHA OIL YESTERDAY ENDED DOWN ON WEAK SPOT PRICES

BUY MENTHOL DEC @ 580-582 SL 577.50 TGT 584.80-587.50-590.50.MCX