Mentha oil October contract gained Rs 12.8 and settled at Rs 897.4 a kg spurred by receding stocks in major mandies accompanied with strong export demand by traders and exporters.  The total daily arrivals of mentha oil to be ranging between 350-400 drums against 500-560 drums reported earlier at the major mandies of Uttar Pradesh. The contract made intraday low of Rs 887 a kg and high of Rs 911.1 a kg with the volume of 8355 and total open interest for the same contact was at 6248.Now support for the menthol is seen at 885.9 and below could see a test of 874.4. Resistance is now likely to be seen at 910, a move above could see prices testing 922.6.

Trading Ideas:

Mentha Oil trading range is 874.4-923.

Mentha oil spot is at 980/-.Spot is up by Rs. 22/-.

Resistance for the mentha oil is at 910.

Support or mentha oil is seen at 885.90.

Mentha oil ended higher spurred by receding stocks in major mandies