Mentha oil November contract gained Rs 48.6 and settled at Rs 1263.1 a kg on firming trend at spot market due to rising domestic and export demand against low arrivals. The total daily arrivals of mentha oil to be ranging between 350-400 against 500-560 drums reported earlier. The contract made intraday low of Rs 1239 a kg and high of Rs 1263.1 a kg with the volume of 6331 and total open interest for the same contact was at 8187.Now support for the menthol is seen at 1247 and below could see a test of 1231. Resistance is now likely to be seen at 1271.1, a move above could see prices testing 1279.2.

Trading Ideas:

Mentha Oil trading range is 1231-1279.

Resistance for the mentha oil is at 1276.20.

Support or mentha oil is seen at 1248.80.

Mentha oil ended higher on firming trend at spot market