Mentha oil yesterday traded higher as per expectation in the morning session. But pared its gains in afternoon on profit booking at higher levels. Traders opted to book profit as due to lack of fresh cues from the market. November contract dropped Rs 2.8 and settled at Rs 542.5 a kg. The contract made intraday low of Rs 542 a kg and high of Rs 552.2 a kg. Now support for the menthol is seen at 538.0 and below could see a test of 535.30. Resistance is now likely to be seen at 549.10, a move above could see prices testing 555.70.

Trading Ideas:

MENTHOL TRADING RANGE IS 534-550.

MENTHOL SPOT IS AT 586/-.SPOT IS DOWN BY RS 5/-.

HOLD / BUY MENTHOL NOV @ 536-538 SL 533.50 TGT 541.20-544.50-548.60. MCX

MENTHA OIL A JUMP TOWARDS 545-548 LVL IS EXPECTED

NOW RES IS AT 543.80 ABV THIS NEXT RES IS AT 546.20-549.40.

MENTHA OIL ENDED LOWER YESTERDAY ON PROFIT BOOKING