Mentha oil December contract gained Rs 26.2 and settled at Rs 1256.5 a kg on the back increasing export and domestic demand from pharmaceutical Industries which kept supporting the spot rates. The contract made intraday low of Rs 1227 a kg and high of Rs 1257.5 a kg with the volume of 5160 and total open interest for the same contact was at 5218. Now support for the menthol is seen at 1236.5 and below could see a test of 1216.5. Resistance is now likely to be seen at 1267, a move above could see prices testing 1277.5.

Trading Ideas:

Mentha Oil trading range is 1215.2-1276.

Resistance for the mentha oil is at 1267 level.

Support or mentha oil is seen at 1244.80 level.

Mentha oil ended positive due to increasing export and domestic demand