Mentha oil September contract gained Rs 22.5 and settled at Rs 824.3 a kg as lower-level buying supported the prices after the prices fell down in last some sessions. On September 16th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 8,87,124 kg of which 7,62,556 kg is physical stock and 1,24,567 is the demat stock. The contract made intraday low of Rs 804.8 a kg and high of Rs 825.9 a kg with the volume of 3408 and total open interest for the same contact was at 5530.Now support for the menthol is seen at 810.8 and below could see a test of 797.2. Resistance is now likely to be seen at 831.9, a move above could see prices testing 839.4.

Trading Ideas:

Mentha Oil trading range is 797.2-839.

Mentha oil spot is at 907/-.Spot is up by Rs.2/-.

Resistance for the mentha oil is at 831.90.

Support or mentha oil is seen at 818.20.

Mentha oil ended higher as lower-level buying supported the prices