Yesterday menthol jumped as per expectation as good demand from pharmaceutical industries is supporting the uptrend. Though some profit booking is expected in the mandi but traders expect overall trend may remain bullish on expected further rise in demand in coming days. January contract gained Rs 13.5 and settled at Rs 622.3 a kg. The contract made intraday low of Rs 608 a kg and high of Rs 627.1 a kg. Now support for the menthol is seen at 611.10 and below could see a test of 600.00. Resistance is now likely to be seen at 630.20, a move above could see prices testing 638.20.

Trading Ideas:

Menthol trading range is 610-635.

Mentha oil spot is at 666/-.Spot is up by 7 rs.

Yesterday again mentha oil jumped again as per expectation above 620 level

Mentha oil prices ended higher tracking firm cues from spot market and good export demand

Now resistance for mentha oil is at 627.80 and support is at 619.20.

BUY MENTHOL JAN ABV 624 SL 619 TGT 626.50-628.80-632.MCX