Mentha oil November contract gained Rs 1.3 and settled at Rs 1225.4 a kg witnessed some buying in trading fueled by receding arrivals in major mandies of Uttar Pradesh accompanied with follows up buying by traders and speculators. The total daily arrivals of mentha oil to be ranging between 350-400 drums at the major mandies of Uttar Pradesh such as Sambhal , Chnadausi and Rampur. The contract made intraday low of Rs 1204.1 a kg and high of Rs 1245 a kg with the volume of 4199 and total open interest for the same contact was at 6947.Now support for the menthol is seen at 1204.7 and below could see a test of 1183.9. Resistance is now likely to be seen at 1245.6, a move above could see prices testing 1265.7.

Trading Ideas:

Mentha Oil trading range is 1183.3-1265.

Mentha oil spot is at 1280/-.Spot market is down by Rs.30/.

Resistance for the mentha oil is at 1238.40.

Support or mentha oil is seen at 1212.70.

Mentha oil gained as market witnessed some buying