Menthol march contract dropped Rs 3 and settled at Rs 585.7 a kg on Saturday there where no major activity seen in the spot market. Some buying is expected in the market if prices remain above the 580 level as spot market is still holding the 650 level yesterday we have seen march contract made intraday low of Rs 584 a kg and high of Rs 592.4 a kg.

Now support for the menthol is seen at 582.3 and below could see a test of 579. Resistance is now likely to be seen at 590.7, a move above could see prices testing 595.8.

Trading Ideas:

Menthol Oil trading range is 572.9-588.

Mentha oil spot is at 656/-.Spot market is trading flat.

Resistance for Mentha oil is at 588.20.

Mentha oil is getting support at 582.30.

Mentha oil yesterday ended weak due to weak spot cues.

BUY MENTHOL MAR @ 582 SL 579 TGT 585.50-588-590.MCX