Mentha oil extended their selling in Saturday’s trading on the heels of sturdy arrivals in major mandis coupled with weak off take by exporters .December contract dropped Rs 5.6 and settled at Rs 587.8 a kg. The contract made intraday low of Rs 586.3 a kg and high of Rs 593.9 a kg.

Now support for the menthol is seen at 584.70 and below could see a test of 581.70. Resistance is now likely to be seen at 592.30, a move above could see prices testing 596.90.

Trading Ideas:

MENTHOL TRADING RANGE IS 575-600.

MENTHOL SPOT IS AT 640/-.SPOT IS DOWN BY 5/-.

SUPPORT FOR MENTHA OIL IS AT 584.20.

RESISTANCE FOR MENTHA OIL IS AT 591.40.

MENTHA EXTENDED SELLING ON SATURDAY ON THE HEELS OF STURDY ARRIVALS IN MAJOR MANDIS

SELL MENTHOL DEC @ 590-592 SL 595.80 TGT 588.30-585.60-583.20.MCX