Mentha oil February contract gained Rs 15.7 and settled at Rs 1149.3 a kg supported by mounting demand in the spot market against constrained arrivals. Further, the anticipation of upcoming rise in export demand is also likely to provide further support to prices. The contract made intraday low of Rs 1123 a kg and high of Rs 1163 a kg with the volume of 4399 and total open interest for the same contact was at 2769.Now support for the menthol is seen at 1127.2 and below could see a test of 1105.1. Resistance is now likely to be seen at 1167.2, a move above could see prices testing 1185.1.

Trading Ideas:

Mentha Oil trading range is 1105.7-1186.

Mentha oil spot is at 1230/-.Spot market is down by Rs 5/.

Mentha oil gained supported by mounting demand

Mentha oil looks to take support at 1148 level

Resistance for the mentha oil is seen at 1162 level.