December contract dropped Rs 2.5 and settled at Rs 583.6 a kg. The contract made intraday low of Rs 582.2 a kg and high of Rs 589.2 a kg. Now support for the menthol is seen at 580.8 and below could see a test of 578. Resistance is now likely to be seen at 587.8, a move above could see prices testing 592.

Trading Ideas:

MENTHOL TRADING RANGE IS 570-600.

MENTHOL SPOT IS AT 632/-SPOT IS DOWN BY RS 8/-.

SELL MENTHA OIL DEC BELOW 580 SL 584.50 TGT 577.80-575.50-574. MCX

SUPPORT FOR MENTHA OIL IS AT 580.80.

IMP WILL BE 590 LEVEL ABV THAT A JUMP CAN BE SEEN TILL 594-596

MENTHOL PRICES ENDED LOWER ON PROFIT BOOKING BY TRADERS