MUMBAI (Commodity Online): Mentha oil futures witnessed some moderate upward movements in the opening session on Monday at the MCX counter on fresh buying at lower levels.

MCX mentha oil March contract traded at Rs 618.30 a kg, up Rs 1.70. The contract had opened the day higher at Rs 618 a kg. The contract so far fluctuated between of Rs 618.90- 617.70 a kg.

April contract moved up Rs 2.20 at Rs 617.50 a kg. The contract traded in the range Rs 617.50- 616.30 a kg. Volumes in the March and April contracts so far have been 65 and 30 lots respectively.

Now support for the Menthol is seen at 613.9 and below could see a test of 611.3. Resistance is now likely to be seen at 618.4, a move above could see prices testing 620.3.

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Mentha oil have been trading range-bound in last few session as absence of fresh cue failed to provide any direction to market. March contract gained Rs 3.4 and settled at Rs 616.6 a kg. The contract made intraday low of Rs 613.1 a kg and high of Rs 617.6 a kg with the volume of 731 and total open interest for the same contact was at 2711.

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