Mentha oil March contract gained Rs 10.6 and settled at Rs 1148 a kg supported by the low arrivals amidst some rise in demand supported the prices. Stockists were reportedly unwilling to sell at these low levels in the mandis and that affected the arrivals to some extent. The contract made intraday low of Rs 1132 a kg and high of Rs 1149.9 a kg with the volume of 2367 and total open interest for the same contact was at 6162. Now support for the menthol is seen at 1136.7 and below could see a test of 1125.4. Resistance is now likely to be seen at 1154.6, a move above could see prices testing 1161.2.

Trading Ideas:

Mentha Oil trading range is 1125.4-1161.

Mentha oil spot is at 1205/-.Spot market is up by Rs 11/.

Mentha oil gained supported by the low arrivals amidst some rise in demand

Mentha oil looks to take support at 1136 level

Resistance for the mentha oil is seen at 1160 level.