Mentha oil August contract dropped Rs 13.6 and settled at Rs 745.4 a kg on profit booking. On August 24th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 9,26,710 kg of which 8,44,644 kg is physical stock and 82,065 is the demat stock.

The contract made intraday low of Rs 744.3 a kg and high of Rs 765.3 a kg with the volume of 3149 and total open interest for the same contact was at 6292.Now support for the menthol is seen at 738 and below could see a test of
730.7. Resistance is now likely to be seen at 759, a move above could see prices testing 772.7.

Trading Ideas:

Mentha Oil trading range is 730.7-773.

Resistance for the mentha oil is at 749.60.

Support or mentha oil is seen at 741.80.

Mentha oil yesterday ended lower on profit booking