Mentha oil March contract gained Rs 3.9 and settled at Rs 1140 a kg as receding arrivals in major mandies of Uttar Pradesh accompanied with buying supported the prices. The total mint exports during April to January month were declined by 10% to 15000 tonnes against 16725 tonnes reported last year. The contract made intraday low of Rs 1127 a kg and high of Rs 1145 a kg with the volume of 1304 and total open interest for the same contact was at 5540. Now support for the menthol is seen at 1129.7 and below could see a test of 1119.3. Resistance is now likely to be seen at 1147.7, a move above could see prices testing
1155.3.

Trading Ideas:

Mentha Oil trading range is 1119.3-1155.

Mentha oil spot is at 1208/-.Spot market is down by Rs 14/.

Mentha oil gained as receding arrivals in major mandies supported the prices.

Mentha oil looks to take support at 1128 level

Resistance for the mentha oil is seen at 1152 level.