MUMBAI (Commodity Online): Mentha oil futures garnered moderate gains on the MCX counter Wednesday owing to persistent buying due to the firm spot market sentiments.

MCX mentha oil March contract traded at Rs 616.60 a kg, up Rs 0.70. The contract had opened the day lower at Rs 614.50 a kg. The contract so far fluctuated between of Rs 618- 614.30 a kg.

April contract tad up Re 0.30 at Rs 614.30 a kg. The contract traded in the range Rs 616.60- 613.40 a kg. Volumes in the March and April contracts so far have been 65 and 25 lots respectively.

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March contract gained Rs 1.7 and settled at Rs 615.9 a kg. The contract made intraday low of Rs 611.6 a kg and high of Rs 619.9 a kg with the volume of 1424 and total open interest for the same contact was at 2938.

Now support for the Menthol is seen at 611.7 and below could see a test of 607.5. Resistance is now likely to be seen at 620, a move above could see prices testing 624.1.

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