Mentha oil ended positive yesterday on hopes of lower planting fuelled the prices to rally high. May contract dropped Rs 7.9 and settled at Rs 679.3 a kg. The contract made intraday low of Rs 669.5 a kg and high of Rs 685.7 a kg with the volume of 2014 and total open interest for the same contact was at 2319.Now support for the menthol is seen at 670.6 and below could see a test of 662. Resistance is now likely to be seen at 686.8, a move above could see prices testing 694.4.

Trading Ideas:

Menthol Oil trading range is 662-694.

Mentha oil spot is at 760/-.Spot is up by Rs.12/-.

Resistance for the mentha oil is at 684.20 level

Mentha oil looks to have a support at 675.20 level.

Mentha oil ended positive yesterday on hopes of lower planting fuelled the prices