Menthol last we have seen traded in the range of 600-638 level. Overall now market is becoming dizzy as some selling pressure had been seen from the farmers as export enquiry had decrease in the last week. Spot is trading at 657 that is flat as compare with the last closing as farmers and trader are waiting for the clues.

December contract gained Rs 4.6 and settled at Rs 620.8 a kg. The contract made intraday low of Rs 614 a kg and high of Rs 624.9 a kg. Now support for the menthol is seen at 614.9 and below could see a test of 609. Resistance is now likely to be seen at 625.8, a move above could see prices testing 630.8.

Trading Ideas:

MENTHOL TRADING RANGE IS 605-635.

MENTHOL SPOT IS AT 657/-.SPOT IS FLAT AND RANGE BOUND.

SELL MENTHOL DEC @ 625-627 SL 630.2 TGT 621.60-619.20-616.50-614.MCX

A BREAK BELOW 618 WILL CREATE A SELLING PRESSURE IN THE MARKET FOR TGT 608 LEVEL.

RESISTANCE FOR MENTHA OIL IS AT 623.60.

MENTHOL PRICES ENDED UP ON SATURDAY TRACKING FIRM SPOT PRICES