November contract gained Rs 1.9 and settled at Rs 527.5 a kg. The contract made intraday low of Rs 525.6 a kg and high of Rs 530 a kg.
Now support for the menthol is seen at 525.4 and below could see a test of 523.3. Resistance is now likely to be seen at 529.8, a move above could see prices testing 532.1.
Trading Ideas: MENTHOL TRADING RANGE IS 521-536.
MENTHAOIL SPOT IS AT 557. SPOT IS DOWN BY RS. 4/-
BUY MENTHOL AT 522-524 SL 518.80 TGT 526-529-532.
MENTHA OIL A JUMP TOWARDS 530-532 LVL IS EXPECTED
NOW RES IS AT 529.80 ABV THIS NEXT RES IS AT 532.10-534.80.
MENTHA OIL ENDED SLIGHTLY UP ON SHORT COVERING
Courtesy: Kedia Commodities
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