Mentha oil September contract gained Rs 0.8 and settled at Rs 779.9 a kg on some buying support. On September 1st, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 9,26,710 kg of which 7,46,833 kg is physical stock and 1,79,877 is the demat stock. The contract made intraday low of Rs 779.4 a kg and high of Rs 789.3 a kg with the volume of 4494 and total open interest for the same contact was at 6783.Now support for the menthol is seen at 776.4 and below could see a test of 773. Resistance is now likely to be seen at 786.3, a move above could see prices testing 792.8.

Trading Ideas:

Mentha Oil trading range is 773.5-793.

Resistance for the mentha oil is at 786.30.

Support or mentha oil is seen at 776.40.

Mentha oil ended firm on some buying support