Mentha oil July contract gained Rs 0.3 and settled at Rs 688.7 a kg on profit-booking by speculators, driven by a weak demand in the spot market. Fresh arrivals from producing regions also put pressure on the prices in prices. The contract made intraday low of Rs 683.3 a kg and high of Rs 693 a kg with the volume of 1552 and total open interest for the same contact was at 4199.Now support for the menthol is seen at 683.7 and below could see a test of 678.6. Resistance is now likely to be seen at 693.4, a move above could see prices testing 698.

Trading Ideas:

Menthol Oil trading range is 678.5-698.

Resistance for the mentha oil is at 693.40

Support for mentha oil is at 683.70

Mentha oil settled flat on profit-booking by speculators driven by weak demand in spot