Mentha oil November contract gained Rs 44.1 and settled at Rs 1146.9 a kg as strong demand in major mandies against restricted supplies pushed the mentha oil prices higher. The total arrivals were around 400 drums in all the mandies of Uttar Pradesh. The contract made intraday low of Rs 1103 a kg and high of Rs 1146.9 a kg with the volume of 7721 and total open interest for the same contact was at 6603.Now support for the menthol is seen at 1117.6 and below could see a test of 1088.4. Resistance is now likely to be seen at 1161.5, a move above could see prices testing 1176.2.

Trading Ideas:

Mentha Oil trading range is 1088.4-1176.

Mentha oil spot is at 1165/-.Spot market is up by Rs.45/.

Resistance for the mentha oil is at 1160.20.

Support or mentha oil is seen at 1132.20.

Mentha oil ended higher on strong demand in major mandies against restricted supplies