Mentha oil ended higher on Saturday due to rise in both demand and arrivals in market. On January 8, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 7,94,985 kg of which 7,89,943 kg physical stock and 5,041 demat stock. January contract gained Rs 8.4 and settled at Rs 623.7 a kg. The contract made intraday low of Rs 616.5 a kg and high of Rs 624.7 a kg. Now support for the menthol is seen at 618.50 and below could see a test of 613.40. Resistance is now likely to be seen at 626.70, a move above could see prices testing 629.80.

Trading Ideas:

Menthol trading range is 615-632.

Mentha oil spot is at 668/-.Spot is up by 8 rs.

Mentha oil is getting support at 619.60 level and resist is at 626.80.

Mentha oil ended higher on Saturday due to rise in both demand

Stock of mentha oil at MCX-monitored warehouses at Chandausi was 7,94,985 kg

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