Mentha oil September contract dropped Rs 10.6 and settled at Rs 806.8 a kg as profit booking at upper levels pressurized the prices. On September 15th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was
9,26,710 kg of which 8,04,302 kg is physical stock and 1,22,407 is the demat stock. The contract made intraday low of Rs 804.2 a kg and high of Rs 819 a kg with the volume of 5051 and total open interest for the same contact was at 5659. Now support for the menthol is seen at 801 and below could see a test of 795.2. Resistance is now likely to be seen at 815.8, a move above could see prices testing 824.8.

Trading Ideas:

Mentha Oil trading range is 795.2-825.

Resistance for the mentha oil is at 811.80.

Support or mentha oil is seen at 801.

Mentha oil ended weak as profit booking at upper levels pressurized prices