Mentha oil closed session on a higher note on buying interest at the lower level by traders. Firm spot markets also garnered support. On March 9th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 826,666 kg of which 792,847 kg is physical stock and 33,819 is the demat stock. March contract dropped Rs 7.1 and settled at Rs 615.7 a kg.

The contract made intraday low of Rs 607.2 a kg and high of Rs 617.8 a kg with the volume of 2628 and total open interest for the same contact was at 3326.Now support for the menthol is seen at 609.3 and below could see a test of 603. Resistance is now likely to be seen at 619.9, a move above could see prices testing 624.2.

Trading Ideas:

Menthol Oil trading range is 603-624.

Mentha oil spot is at 668/-.Spot market is  up by Rs 4/-.

Resistance for the mentha oil is at 617.20 and support is at 610.30.

Total stock of mentha at MCX warehouses at Chandausi was 826,666 kg as on Mar 9.

Mentha oil closed higher note on buying interest at the lower level

BUY MENTHA OIL MAR @ 610-612 SL 604 TGT 618-622-624.MCX