Mentha oil June contract gained Rs 8.5 and settled at Rs 722.7 a kg as traders showed some interest at the lower-level. An ease in arrival pressure also fostered spot prices to rally up. On June 15th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 757,489 kg of which 722,954 kg is physical stock and 34,535 is the demat stock. The contract made intraday low of Rs 713.1 a kg and high of Rs 723.2 a kg with the volume of 1943 and total open interest for the same contact was at 2423.Now support for the menthol is seen at 716.1 and below could see a test of 709.6. Resistance is now likely to be seen at 726.2, a move above could see prices testing 729.8.

Trading Ideas:

Menthol Oil trading range is 720.8-727.

Mentha oil spot is at 790. Spot is up by Rs.15/-.

Resistance for the mentha oil is at 726.20 and support is at 716.10.

Ease in arrival pressure also fostered spot prices to rally up

Mentha oil ended higher as traders showed some interest at the lower-level

BUY MENTHA OIL @ 715 SL 714 TGT 722-726-730.MCX