Mentha oil June contract gained Rs 2.2 and settled at Rs 722.2 a kg. The contract made intraday low of Rs 717 a kg and high of Rs 723.9 a kg with the volume of 1162 and total open interest for the same contact was at 1854. Now support for the menthol is seen at 718.2 and below could see a test of 714.1. Resistance is now likely to be seen at 725.1, a move above could see prices testing 727.9.

Trading Ideas:

Menthol Oil trading range is 714.3-728.

Mentha oil spot is at 806. Spot is up by Rs. 10/-.

Resistance for the mentha oil is at 725.10.

Mentha oil looks to have a support at 718.20.

Mentha oil yesterday traded in range and ended positive on firm spot market

SELL MENTHOL JULY @ 735-737 SL 742.50 TGT 730.50-727.20-724.MCX