Commodity Outlook for Mentha Oil by KediaCommodity

Commodity Outlook for Mentha Oil by KediaCommodityMentha oil June contract gained Rs 0.2 and settled at Rs 721.6 a kg as thin arrival in spot markets supported the sentiment. The contract made intraday low of Rs 713.3 a kg and high of Rs 725.3 a kg with the volume of 1353 and total open interest for the same contact was at 1876. Now support for the menthol is seen at 714.8 and below could see a test of 708.1. Resistance is now likely to be seen at 726.8, a move above could see prices testing 732.1.

Trading Ideas:

Menthol Oil trading range is 708.1-732.

Mentha oil spot is at 790. Spot is down by Rs. 15/-.

Resistance for the mentha oil is at 726.80.

Mentha oil looks to have a support at 714.80.

Mentha oil ended as sentiment is supported by thin arrival

SELL MENTHOL JUNE BELOW 720 SL 726.20 TGT 716.20-712-708. MCX