Mentha oil December contract dropped Rs 44.6 and settled at Rs 1069.3 a kg due to its higher arrivals amidst sluggish demand for the commodity in the physical market. Further, traders are also expecting some more dips for fresh buy. The contract made intraday low of Rs 1069.3 a kg and high of Rs 1129.3 a kg with the volume of 3082 and total open interest for the same contact was at 4359.Now support for the menthol is seen at 1049.3 and below could see a test of 1029.3. Resistance is now likely to be seen at 1109.3, a move above could see prices testing 1149.3.

Trading Ideas:

Mentha Oil trading range is 1029.3-1149.

Resistance for the mentha oil is at 1082.80 level.

Support or mentha oil is seen at 1054.20 level.

Mentha oil ended lower due to its higher arrivals