Mentha oil November contract gained Rs 42.4 and settled at Rs 1102.9 a kg on improved buying and speculative activities along with an equally strong spot are supporting mentha oil prices. On October 23rd, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 8,28,113 kg of which 7,03,533 kg is physical stock and 1,24,580 is the demat stock. The contract made intraday low of Rs 1058.1 a kg and high of Rs 1102.9 a kg with the volume of 5969 and total open interest for the same contact was at 5868.Now support for the menthol is seen at 1073 and below could see a test of 1043.2. Resistance is now likely to be seen at 1117.8, a move above could see prices testing 1132.8.

Trading Ideas:

Mentha Oil trading range is 1043.2-1133.

Mentha oil spot is at 1155/-.Spot market is up by Rs.40/.

Resistance for the mentha oil is at 1115.20.

Support or mentha oil is seen at 1088.60.

Mentha oil ended higher on improved buying along with an equally strong spot market