Mentha oil October contract dropped Rs 12.5 and settled at Rs 953.3 a kg on profit booking after prices rose heavily last week. The contract made intraday low of Rs 943.4 a kg and high of Rs 968 a kg with the volume of 5583 and total open interest for the same contact was at 5846. Now support for the menthol is seen at 941.8 and below could see a test of 930.3. Resistance is now likely to be seen at 966.4, a move above could see prices testing 979.5.

Trading Ideas:

Mentha Oil trading range is 930.3-980.

Mentha oil spot is at 1038/-.Spot is down by Rs. 9/-.

Resistance for the mentha oil is at 966.40.

Support or mentha oil is seen at 947.20.

Mentha oil ended down on profit booking after prices rose heavily last week