Mentha oil November contract gained Rs 10 and settled at Rs 1167.8 a kg as robust demand coupled with thin arrival fuelled the persistently bullish mentha prices to trade higher. Heavy demand and thin arrival in the market has been igniting the prices. On October 29th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 8,79,111 kg of which 7,54,5887 kg is physical stock and 1,33,224 is the demat stock. The contract made intraday low of Rs 1162.2 a kg and high of Rs 1172.9 a kg with the volume of 2682 and total open interest for the same contact was at 8065. Now support for the menthol is seen at 1162.4 and below could see a test of 1156.9. Resistance is now likely to be seen at 1173.1, a move above could see prices testing 1178.3.

Trading Ideas:

Mentha Oil trading range is 1156.9-1178.

Resistance for the mentha oil is at 1173.40.

Support or mentha oil is seen at 1162.40.

Mentha oil ended positive on robust demand coupled with thin arrival fuelled