Mentha oil recovered ground during the second half on firm cues from physical markets. April contract gained Rs 5.5 and settled at Rs 626.7 a kg. The contract made intraday low of Rs 618.7 a kg and high of Rs 628.8 a kg with the volume of 1742 and total open interest for the same contact was at 2791.Now support for the menthol is seen at 620.7 and below could see a test of 614.6. Resistance is now likely to be seen at 630.8, a move above could see prices testing 634.8.

Trading Ideas:

Menthol Oil trading range is 614.6-635.

Mentha oil spot is at 687/-.Spot is up by Rs 10/-.

Resistance for the mentha oil is at 630.80

Mentha oil is getting support at 623.80

Mentha oil yesterday ended higher on firm cues from physical markets

BUY MENTHOL APR ABV 628 SL 624 TGT 631.50-633.80-636. MCX