Mentha oil February contract dropped Rs 14 and settled at Rs 1171.6 a kg due to profit booking on the weekend. The contract made intraday low of Rs 1169.6 a kg and high of Rs 1192.2 a kg with the volume of 1927 and total open interest for the same contact was at 4118. Now support for the menthol is seen at 1163.4 and below could see a test of 1155.2. Resistance is now likely to be seen at 1186, a move above could see prices testing 1200.4.

Trading Ideas: Mentha Oil trading range is 1155.2-1200. Mentha oil spot is at 1247/-.Spot market is down by Rs 20/. Mentha oil dropped due to profit booking on the weekend. Mentha oil looks to take support at 1163.40 level Resistance for the mentha oil is seen at 1186 level.