Mentha oil November contract gained Rs 27.2 and settled at Rs 1207.2 a kg on low level buying due to rising domestic and export demand against low arrivals. Reports of lower production and rising demand from China further provided support to the prices. The total arrivals of the commodity have been reported at 600 drums in Uttar Pradesh. There has been a surge in the arrivals. The contract made intraday low of Rs 1160 a kg and high of Rs 1214.2 a kg with the volume of 3703 and total open interest for the same contact was at 6407.Now support for the menthol is seen at 1173.4 and below could see a test of 1139.6. Resistance is now likely to be seen at 1227.6, a move above could see prices testing 1248.

Trading Ideas:

Mentha Oil trading range is 1139.6-1248.

Mentha oil spot is at 1210/-.Spot market is down by Rs.65/.

Resistance for the mentha oil is at 1220 level.

Support or mentha oil is seen at 1190 level.

Mentha oil ended higher on low level buying due to rising domestic and export demand