Mentha oil October contract dropped Rs 10 and settled at Rs 869.4 a kg due to profit-booking at existing levels amid fall in spot market demand. The contract made intraday low of Rs 866 a kg and high of Rs 876.5 a kg with the volume of 3688 and total open interest for the same contact was at 6423. Now support for the menthol is seen at 864.8 and below could see a test of 860.1. Resistance is now likely to be seen at 875.3, a move above could see prices testing 881.1.

Trading Ideas:

Mentha Oil trading range is 860.1-881.

Resistance for the mentha oil is at 875.30.

Support or mentha oil is seen at 864.80.

Mentha oil ended lower due to profit-booking at higher existing levels