Mentha oil settled down with moderate change on profit taking. Gains at the physical market also failed to garner much support. On March 22th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 751,100 kg of which 716,564 kg is physical stock and 34,535 is the demat stock. March contract dropped Rs 2.1 and settled at Rs 621.2 a kg. The contract made intraday low of Rs 620.7 a kg and high of Rs 625.9 a kg with the volume of 1377 and total open interest for the same contact was at 2515.Now support for the menthol is seen at 619.3 and below could see a test of 617.4. Resistance is now likely to be seen at 624.5, a move above could see prices testing 627.8.

Trading Ideas:

Menthol Oil trading range is 617.4-628.

Mentha oil spot is at 668/-.Spot market is up by Rs 5/-.

Resistance for the mentha oil is 624.50 and support is at 619.30.

Total stock of mentha at MCX warehouses at Chandausi was 751,100 kg as on Mar 22.

Mentha oil settled down with moderate change on profit taking

MENTHOL OIL SELL MENTHOL MAR @ 624-626 SL 630 TGT 621.20-619.60-616.50.MCX (STBT)