Mentha oil October contract gained Rs 39 and settled at Rs 1013.4 a kg due to strong buying fueled by receding arrivals in major mandies of Uttar Pradesh accompanied with follows up buying. the total daily arrivals of mentha oil to be ranging between 350-400 drums at the major mandies of Uttar Pradesh such as Sambhal , Chnadausi and Rampur. The contract made intraday low of Rs 977.1 a kg and high of Rs 1013.4 a kg with the volume of 7535 and total open interest for the same contact was at 4156.Now support for the menthol is seen at 989.2 and below could see a test of 965. Resistance is now likely to be seen at 1025.5, a move above could see prices testing 1037.6.

Trading Ideas:

Mentha Oil trading range is 965-1038.

Resistance for the mentha oil is at 1025.50.

Support or mentha oil is seen at 1001.80.

Mentha oil ended higher due to strong buying fueled by receding arrivals