Mentha oil February contract gained Rs 3.4 and settled at Rs 1096.3 a kg due to pick up in demand in the spot market. Restricted arrivals from producing region further fueled the uptrend. On February 19th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 5,45,037 kg of which 4,37,077 kg is physical stock and 1,07,959 is the demat stock.

The contract made intraday low of Rs 1082 a kg and high of Rs 1110.8 a kg with the volume of 2838 and total open interest for the same contact was at 2265. Now support for the menthol is seen at 1081.9 and below could see a test of 1067.6. Resistance is now likely to be seen at 1110.7, a move above could see prices testing 1125.2.

Trading Ideas: Mentha Oil trading range is 1066-1124. Mentha oil spot is at 1198/-.Spot market is up by Rs 3/. Mentha oil gained due to pick up in demand in the spot market. Mentha oil looks to take support at 1081.90 level Resistance for the mentha oil is seen at 1110.70 level.