Mentha oil September contract gained Rs 16.2 and settled at Rs 816 a kg on fresh buying. On September 4th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 9,26,710 kg of which 8,12,950 kg is physical stock and 1,13,759 is the demat stock. The contract made intraday low of Rs 795.2 a kg and high of Rs 816.8 a kg with the volume of 7596 and total open interest for the same contact was at 6747.Now support for the menthol is seen at 801.9 and below could see a test of 787.7. Resistance is now likely to be seen at 823.5, a move above could see prices testing 830.9.

Trading Ideas:

Mentha Oil trading range is 787.7-831.

Resistance for the mentha oil is at 823.50.

Support or mentha oil is seen at 810.20.

Mentha oil ended higher yesterday on fresh buying