Mentha oil October contract dropped Rs 7.8 and settled at Rs 865.6 a kg on intraday profit booking. The total daily arrivals of mentha oil in major mandies have reduced to 350-400 drums against 550 drum reported earlier. The contract made intraday low of Rs 862.2 a kg and high of Rs 884.2 a kg with the volume of 8005 and total open interest for the same contact was at 6432.Now support for the menthol is seen at 857.1 and below could see a test of 848.7. Resistance is now likely to be seen at 879.1, a move above could see prices testing 892.7.

Trading Ideas:

Mentha Oil trading range is 848.7-893.

Mentha oil spot is at 964/-.Spot is up by Rs.12/-.

Resistance for the mentha oil is at 872.20.

Support or mentha oil is seen at 857.10.

Mentha oil yesterday ended weak on intraday profit booking