Mentha oil May contract dropped Rs 0.2 and settled at Rs 687.5 a kg on profit booking. It had been moving in the green terrain from the past few sessions. The contract made intraday low of Rs 686 a kg and high of Rs 692 a kg with the volume of 1321 and total open interest for the same contact was at 3361. Now support for the menthol is seen at 685 and below could see a test of 682.5. Resistance is now likely to be seen at 691, a move above could see prices testing 694.5.

Trading Ideas:

Menthol Oil trading range is 682.5-695.

Mentha oil spot is at 777/-. Spot is Down by Rs. 6/-.

Resistance for the mentha oil is at 691.

Support for mentha oil is seen at 685.

Mentha oil dropped on Saturday on profit booking

SELL MENTHOL MAY @688 SL 694 TGT 683.50-678-675.MCX