Mentha oil May contract gained Rs 1.8 and settled at Rs 689.3 a kg. The contract made intraday low of Rs 685.8 a kg and high of Rs 697.5 a kg with the volume of 1049 and total open interest for the same contact was at 3205.Now support for the menthol is seen at 684.2 and below could see a test of 679.2. Resistance is now likely to be seen at 695.9, a move above could see prices testing 702.6.

Trading Ideas:

Menthol Oil trading range is 678.9-702.

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

Resistance for the mentha oil is at 695.90.

Support for mentha oil is seen at 684.20.

Mentha oil gained yesterday on some low level buying

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