Mentha oil ended positive on Saturday tracking firmness in the spot market. Both arrival and demand for mentha oil in spot remained average. On January 15th, total stock of mentha oil at MCX- monitored warehouses at Chandausi was 7,94,985 kg. January contract gained Rs 1.1 and settled at Rs 607.6 a kg.

The contract made intraday low of Rs 605 a kg and high of Rs 609.4 a kg. Now support for the menthol is seen at 605.20 and below could see a test of 602.90. Resistance is now likely to be seen at 609.60, a move above could see prices testing 611.70.

Trading Ideas:

Menthol trading range is 598-615.

Mentha oil spot is at 655/-.Spot is up by Rs 4/-.

Now resistance for Mentha oil is at 609.80 and support is at 605.10 level

Total stock of mentha oil at MCX-monitored warehouses at Chandausi was 7,94,985 kg.

Mentha oil ended positive on Saturday tracking firmness in the spot market

SELL MENTHOL JAN @ 611 SL 614.50 TGT 608.20-805.60-601.40-599.40.MCX