Mentha oil yesterday ended lower as traders apprised that arrivals of new mentha oil will commence from the next month and that prices may fall further. On May 4th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 662,460 kg of which 627,925 kg is physical stock and 34,535 is the demat stock. May contract dropped Rs 28.2 and settled at Rs 676.7 a kg. The contract made intraday low of Rs 676.7 a kg and high of Rs 703.9 a kg with the volume of 2846 and total open interest for the same contact was at 3630.Now support for the menthol is seen at 667.6 and below could see a test of 658.6. Resistance is now likely to be seen at 694.8, a move above could see prices testing 713.

Trading Ideas:

Menthol Oil trading range is 658.6-713.

Mentha oil spot is at 770/-. Spot is down by Rs. 15/-.

Resistance for the mentha oil is at 682.20 and support is at 668.80.

Total stock of mentha at MCX warehouses at Chandausi was 662,460 kg as on May 4

Mentha oil yesterday ended lower as traders apprised that arrivals will commence next month

SELL MENTHOL MAY BELOW 674 SL 679 TGT 670.50-666.50.MCX