Mentha oil March contract gained Rs 5.9 and settled at Rs 1136.9 a kg as trader made positions on low level buying. The total mint exports during April to January month were declined by 10% to 15000 tonnes against 16725 tonnes reported last year. Moreover, sharp gains in mentha oil arrivals of around 400 drums in Uttar Pradesh mandies also shrugged off the prices. The contract made intraday low of Rs 1111 a kg and high of Rs 1138.6 a kg with the volume of 2432 and total open interest for the same contact was at 6114. Now support for the menthol is seen at 1119.1 and below could see a test of 1101.2. Resistance is now likely to be seen at 1146.7, a move above could see prices testing 1156.4.

Trading Ideas:

Mentha Oil trading range is 1101.2-1156.

Mentha oil spot is at 1180/-.Spot market is up by Rs.10/-.

Mentha gained as trader made positions on low level buying.

Mentha oil looks to take support at 1124 and support is at 1145 level

The total mint exports during April to January month were declined by 10% to 15000 tonnes