Mentha oil October contract gained Rs 9.7 and settled at Rs 873.6 a kg driven by pick up in domestic and export demand. The major mandies of Sambhal and Chandausi in Uttar Pradesh have witnessed arrivals of around 450/500 drums, according to market sources, down slightly from the normal range of 550-600 in last few days. The contract made intraday low of Rs 862.1 a kg and high of Rs 874.9 a kg with the volume of 4569 and total open interest for the same contact was at 6688.Now support for the menthol is seen at 865.5 and below could see a test of 857.4. Resistance is now likely to be seen at 878.3, a move above could see prices testing 883.

Trading Ideas:

Mentha Oil trading range is 857.4-883.

Mentha oil spot is at 952/-.Spot is up by Rs.6/-.

Resistance for the mentha oil is at 878.30.

Support or mentha oil is seen at 865.50.

Mentha oil yesterday ended higher driven by pick up in demand