Mentha oil December contract gained Rs 12.2 and settled at Rs 1234.9 a kg due to increased demand owing to its low rates. Expected fall in production is likely to keep sentiments up for Mentha in the medium term. The contract made intraday low of Rs 1227 a kg and high of Rs 1249 a kg with the volume of 4412 and total open interest for the same contact was at 5167.Now support for the menthol is seen at 1224.9 and below could see a test of 1215. Resistance is now likely to be seen at 1246.9, a move above could see prices testing 1259.

Trading Ideas:

Mentha Oil trading range is 1215.3-1259.

Resistance for the mentha oil is at 1246.90 level.

Support or mentha oil is seen at 1224.90 level.

Mentha oil yesterday ended positive due to increased demand