Mentha oil October contract dropped Rs 20.2 and settled at Rs 982.3 a kg on heavy profit booking after prices rose from last some days as rise in demand at lower levels amidst fall in arrivals helped support the rates. The contract made intraday low of Rs 977.1 a kg and high of Rs 1018.8 a kg with the volume of 11295 and total open interest for the same contact was at 5216.Now support for the menthol is seen at 966.7 and below could see a test of 951. Resistance is now likely to be seen at 1008.4, a move above could see prices testing 1034.4.

Trading Ideas:

Mentha Oil trading range is 951-1034.

Resistance for the mentha oil is at 990.80.

Support or mentha oil is seen at 974.20.

Mentha oil ended weak on heavy profit booking after prices rose from last some days