Mentha oil November contract gained Rs 13 and settled at Rs 1207.7 a kg getting support from lower production and good export demand. On November 12th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 9,56,888 kg of which 7,99,917 kg is physical stock and 1,56,970 is the demat stock. The contract made intraday low of Rs 1161.1 a kg and high of Rs 1213.7 a kg with the volume of 4686 and total open interest for the same contact was at 6741. Now support for the menthol is seen at 1174.6 and below could see a test of 1141.6. Resistance is now likely to be seen at 1227.2, a move above could see prices testing 1246.8.

Trading Ideas:

Mentha Oil trading range is 1141.8-1247.

Resistance for the mentha oil is at 1220.60.

Support or mentha oil is seen at 1192.20.

Mentha oil ended gained getting support from good export demand