Menthol oil yesterday traded with the negative node and settled -0.77% down at 621.2. In yesterday's trading session menthol oil has touched the low of 620.2 after opening at 626, and finally settled at 621.2. For today's session market is looking to take support at 618.6, a break below could see a test of 616 and where as resistance is now likely to be seen at 625.4, a move above could see prices testing 629.6. Spread between menthol oil APR & MAY contacts yesterday ended at 4.40, we have seen yesterday that the menthol oil market had traded with a negative node and settled -0.77% down. Spread yesterday traded in the range of 0.1 to 4.8.

Trading Ideas:

Menthol Oil trading range is 615.9-630.

Mentha oil spot is at 678/-.Spot is down by Rs 2/-.

Resistance for the mentha oil is at 625.40

Mentha oil is getting support at 618.60

Mentha oil yesterday ended down tracking weak spot market.  

SELL MENTHOL APR @ 622-623 SL ABV 626.50 TGT 619.50-616.50. MCX