Mentha oil November contract gained Rs 38 and settled at Rs 1293.6 a kg as traders created position on the back of short supplies from producing belts amid rising domestic and export demand. The contract made intraday low of Rs 1260 a kg and high of Rs 1305.8 a kg with the volume of 2729 and total open interest for the same contact was at 7208. Now support for the menthol is seen at 1267.1 and below could see a test of 1240.7. Resistance is now likely to be seen at 1312.9, a move above could see prices testing 1332.3.
Mentha Oil trading range is 1240.7-1332.
Resistance for the mentha oil is at 1310.
Support or mentha oil is seen at 1280.
Mentha oil ended higher on the back of short supplies
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