Mentha oil December contract dropped Rs 8 and settled at Rs 1228 a kg due to profit booking. Major mandies of Uttar Pradesh such as Sambhal and Chandausi have witnessed arrivals of around 650 drums. The contract made intraday low of Rs 1225.2 a kg and high of Rs 1247.8 a kg with the volume of 5013 and total open interest for the same contact was at 5146.Now support for the menthol is seen at 1219.5 and below could see a test of 1211.1. Resistance is now likely to be seen at 1242.1, a move above could see prices testing 1256.3.

Trading Ideas:

Mentha Oil trading range is 1211.8-1257.

Resistance for the mentha oil is at 1238.20 level.

Support or mentha oil is seen at 1219.50 level.

Mentha oil yesterday ended weak due to profit booking