Mentha oil August contract dropped Rs 1.1 and settled at Rs 722.5 a kg. Over activity was dull in the market but market can be trading  firm in coming session as tight stocks position followed by fall in supplies from producing belts can influenced the prices. The contract made intraday low of Rs 721.5 a kg and high of Rs 729.9 a kg with the volume of 1886 and total open interest for the same contact was at 4912. Now support for the menthol is seen at 719.4 and below could see a test of 716.2. Resistance is now likely to be seen at 727.8, a move above could see prices testing 733.

Trading Ideas:

Mentha Oil trading range is 716.7-734.

Resistance for the mentha oil is at 727.80 and

Support for mentha oil is seen at 719.40.

Mentha oil ended weak as activity was dull in the market