Mentha oil October contract dropped Rs 2.8 and settled at Rs 965.8 a kg on profit booking after rising heavily in last couple of days. Major mandies of Uttar Pradesh such as Sambhal and Chandausi have witnessed the daily average arrivals of around 300 drums. The contract made intraday low of Rs 961.1 a kg and high of Rs 978.5 a kg with the volume of 5314 and total open interest for the same contact was at 5962.Now support for the menthol is seen at 958.4 and below could see a test of 951.1. Resistance is now likely to be seen at 975.8, a move above could see prices testing 985.9.

Trading Ideas:

Mentha Oil trading range is 951.1-986.

Resistance for the mentha oil is at 675.80.

Support or mentha oil is seen at 958.40.

Mentha oil ended down on profit booking after rising heavily in last couple of days