Mentha oil November contract gained Rs 3.9 and settled at Rs 1267 a kg recovering from losses as traders created position on the back of short supplies from producing belts amid rising domestic and export demand. The contract made intraday low of Rs 1231 a kg and high of Rs 1298 a kg with the volume of 9185 and total open interest for the same contact was at 7848.Now support for the menthol is seen at 1232.7 and below could see a test of 1198.3. Resistance is now likely to be seen at 1299.7, a move above could see prices testing 1332.3.

Trading Ideas:

Mentha Oil trading range is 1197.3-1331.

Mentha oil spot is at 1395/-.Spot market is DOWN by Rs.15/.

Resistance for the mentha oil is at 1278.80.

Support or mentha oil is seen at 1255.20.

Mentha oil ended firm due to rising domestic and export demand