Mentha oil yesterday ended to 4% upper circuit propelled by aggressive lower-level buying. A major exporter's active trading has also fuelled the prices. On April 24th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 645,172 kg of which 610,636 kg is physical stock and 34,535 is the demat stock. May contract gained Rs 29 and settled at Rs 753.4 a kg. The contract made intraday low of Rs 733.4 a kg and high of Rs 753.4 a kg with the volume of 4163 and total open interest for the same contact was at 3885.Now support for the menthol is seen at 740.1 and below could see a test of 726.7. Resistance is now likely to be seen at 760.1, a move above could see prices testing 766.7.

Trading Ideas:

Menthol Oil trading range is 726.7-767.

Mentha oil spot is at 754/-.Spot is down by Rs.9/-.

Resistance for the mentha oil is at 760.10 and support is at 747.20

Total stock of mentha at MCX warehouses at Chandausi was 645,172 kg as on Apr 24

Mentha oil yesterday ended to 4% upper circuit propelled by aggressive buying

SELL MENTHOL MAY BELOW 750 SL 756 TGT 745.50-740.20.MCX