Mentha oil October contract dropped Rs 6.4 and settled at Rs 986.5 a kg on intraday profit booking after prices traded heavily on both the sides. Major mandies of Uttar Pradesh such as Sambhal and Chandausi have witnessed the daily average arrivals of around 100 drums. The contract made intraday low of Rs 980 a kg and high of Rs 1018.1 a kg with the volume of 12713 and total open interest for the same contact was at 5021.Now support for the menthol is seen at 971.6 and below could see a test of 956.8. Resistance is now likely to be seen at 1009.7, a move above could see prices testing 1033.

Trading Ideas:

Mentha Oil trading range is 956.8-1033.

Resistance for the mentha oil is at 1008.20.

Support or mentha oil is seen at 972.40.

Mentha oil ended weak on intraday profit booking