February contract dropped Rs 5.3 and settled at Rs 585.2 a kg. The contract made intraday low of Rs 584.1 a kg and high of Rs 590 a kg. Now support for the menthol is seen at 582.80 and below could see a test of 580.50. Resistance is now likely to be seen at 588.70, a move above could see prices testing 592.30.

Trading Ideas:

Menthol trading range is 578-590.

Mentha oil spot is at 652/-.Spot is down by Rs. 5/-.

Resistance for Mentha oil is at 588.70.

Support for mentha oil is at 582.80.

Mentha oil yesterday ended down in absence any fresh fundamental cue

SELL MENTHOL FEB @ 592 SL 597 TGT 589.20-586.20-583.MCX