Mentha oil September contract dropped Rs 3.3 and settled at Rs 823 a kg on profit booking after prices rose in last some sessions. The contract made intraday low of Rs 821.2 a kg and high of Rs 839.8 a kg with the volume of 6797 and total open interest for the same contact was at 5719.Now support for the menthol is seen at 816.2 and below could see a test of 809.4. Resistance is now likely to be seen at 834.8, a move above could see prices testing 846.6.

Trading Ideas:

Mentha Oil trading range is 809.4-847.

Mentha oil spot is at 922/-.Spot is up by Rs.20/-.

Resistance for the mentha oil is at 828.40.

Support or mentha oil is seen at 816.20.

Mentha oil ended lower yesterday on profit booking