Mentha oil June contract gained Rs 17.1 and settled at Rs 721.2 a kg on robust lower-level buying. Brisk importers' demand in the physical market triggered good buying. Prices gained up to rs 10 a kg in spot markets. The contract made intraday low of Rs 703.1 a kg and high of Rs 724.9 a kg with the volume of 2174 and total open interest for the same contact was at 2313.Now support for the menthol is seen at 707.9 and below could see a test of 694.6. Resistance is now likely to be seen at 729.7, a move above could see prices testing 738.2.

Trading Ideas:

Menthol Oil trading range is 694.6-738.

Mentha oil spot is at 782/-. Spot is UP by 4rs but remains range bound.

Resistance for the mentha oil is at 725.60.

Support for mentha oil is seen at 715.80.

Mentha oil ended higher on robust lower-level buying

SELL MENTHOL JUNE BELOW 720 SL 725.50 TGT 716.20-712-708.MCX