Mentha oil March contract dropped Rs 5 and settled at Rs 1135 a kg as increased arrivals from producing belts in Uttar Pradesh put pressure on prices. On February 25th, 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 1127.8 a kg and high of Rs 1143.2 a kg with the volume of 2667 and total open interest for the same contact was at 6033.Now support for the menthol is seen at 1127.5 and below could see a test of 1119.9. Resistance is now likely to be seen at 1142.9, a move above could see prices testing 1150.7.

Trading Ideas:

Mentha Oil trading range is 1120.7-1152.

Mentha oil spot is at 1194/-.Spot market is down by Rs 15/.

Mentha oil ended weak as increased arrivals from producing belts weighed

Mentha oil looks to take support at 1127.50 level

Resistance for the mentha oil is seen at 1142.90 level.