Menthaoil ended flat as the expectation of arrivals of new crop weighed. However, expected rise in export and domestic demand from pharmaceutical Industries could support the prices. The total arrivals of mentha oil in all the major mandies were reported at around 400 drums. On April 4th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 3,87,849 kg of which 2,81,327 kg is physical stock and 1,06,522 is the demat stock. The contract made intraday low of Rs 1033.5 a kg and high of Rs 1047.9 a kg with the volume of 1185 and total open interest for the same contact was at 1167.Now support for the menthol is seen at 1033.4 and below could see a test of 1026.2. Resistance is now likely to be seen at 1047.8, a move above could see prices testing 1055.

Trading Ideas:

Menthaoil trading range is 1026-1055.

Menthaoil spot is at 1140/-.Spot market flat/-.

Menthaoil ended flat as the expectation of arrivals of new crop weighed.

Menthaoil looks to take support at 1033.40 and resistance at 1047.80.

The total arrivals of mentha oil in all the major mandies were reported at around 400 drums.