Mentha oil September contract dropped Rs 4.4 and settled at Rs 810.1 a kg on profit booking. On September 6th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 9,26,710 kg of which 8,17,262 kg is physical stock and 1,09,447 is the demat stock. The contract made intraday low of Rs 807.4 a kg and high of Rs 820.7 a kg with the volume of 7755 and total open interest for the same contact was at 6060.Now support for the menthol is seen at 804.8 and below could see a test of 799.4. Resistance is now likely to be seen at 818.1, a move above could see prices testing 826.

Trading Ideas:

Mentha Oil trading range is 799.4-826.

Resistance for the mentha oil is at 818.10.

Support or mentha oil is seen at 804.80.

Mentha oil ended weak yesterday on profit booking