Mentha oil settled session with nominal change as slight interest buying interest at lower level emerged. On February 27th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 840,969 kg of which 807,149 kg is physical stock and 33,819 is the demat stock. March contract gained Rs 0.5 and settled at Rs 579 a kg. The contract made intraday low of Rs 573.4 a kg and high of Rs 579.8 a kg with the volume of 658 and total open interest for the same contact was at 3108.Now support for the menthol is seen at 575 and below could see a test of 571. Resistance is now likely to be seen at 581.4, a move above could see prices testing 583.8.

Trading Ideas:

Menthol Oil trading range is 571-584.

Mentha oil spot is at 648/-.Spot market is up by Rs 2/-.

Resistance for Mentha oil is at 581.40 and support is at 575 level.

Total stock of mentha oil at MCX-monitored warehouses at Chandausi was 840,969 as on Feb 27.

Mentha oil ended flat as slight interest buying interest emerged at lower level

BUY MENTHA OIL MAR @ 575-576 SL 571.80 TGT 578.80-581.40-584.20..MCX