Mentha oil September contract gained Rs 13.1 and settled at Rs 836 a kg on buying support from spot market at lower level. Tight stocks position due to fall in supplies from the producing belts also influenced the prices. The contract made intraday low of Rs 816.7 a kg and high of Rs 836 a kg with the volume of 5097 and total open interest for the same contact was at 4853.Now support for the menthol is seen at 823.1 and below could see a test of 810.3. Resistance is now likely to be seen at 842.4, a move above could see prices testing 848.9.

Trading Ideas:

Mentha Oil trading range is 810.3-849.

Resistance for the mentha oil is at 842.40.

Support or mentha oil is seen at 830.20.

Mentha oil yesterday ended higher on buying support from spot market