Mentha oil August contract gained Rs 17.9 and settled at Rs 777.2 a kg on persistent buying by speculators, driven by higher demand in the spot market. The contract made intraday low of Rs 763 a kg and high of Rs 782.1 a kg with the volume of 4179 and total open interest for the same contact was at 4192.

Now support for the menthol is seen at 766.1 and below could see a test of 755. Resistance is now likely to be seen at 785.2, a move above could see prices testing 793.2.

Trading Ideas:

Mentha Oil trading range is 755-793.

Mentha oil spot is at 840/-. Spot market is up by Rs 15/-.

Resistance for the mentha oil is at 785.20.

Support or mentha oil is seen at 772.40.

Mentha oil yesterday ended higher on persistent buying by speculators