MUMBAI (Commodity Online): Mentha oil futures traded down in the morning trade on the MCX counter on Friday as traders indulged in profit taking from its recent gains.

MCX mentha oil March contract traded at Rs 622.20 a kg, down Rs 1.20. The contract had opened the day lower at Rs 623 a kg. The contract so far fluctuated between of Rs 623.30- 621 a kg.

April contract tad down Re 0.90 at Rs 617.70 a kg. The contract traded in the range Rs 619.50- 617.70 a kg. Volumes in the March and April contracts so far have been 85 and 24 lots respectively.

Now support for the Menthol is seen at 615.2 and below could see a test of 607.1. Resistance is now likely to be seen at 628.4, a move above could see prices testing 633.5.

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Mentha oil yesterday ended higher on firm buying support and physical market. On March 10th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 826,666 kg of which 792,847 kg is physical stock and 33,819 is the demat stock.

March contract gained Rs 7.7 and settled at Rs 623.4 a kg. The contract made intraday low of Rs 612.1 a kg and high of Rs 625.3 a kg with the volume of 3195 and total open interest for the same contact was at 3217.

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