Mentha oil December contract gained Rs 19.9 and settled at Rs 1272.6 a kg on the back of increasing export and domestic demand from pharmaceuticals industries which kept supporting the spot rates. The contract made intraday low of Rs 1259 a kg and high of Rs 1289.9 a kg with the volume of 5270 and total open interest for the same contact was at 5065. Now support for the menthol is seen at 1257.8 and below could see a test of 1242.9. Resistance is now likely to be seen at 1288.7, a move above could see prices testing 1304.7.

Trading Ideas:

Mentha Oil trading range is 1243.3-1305.

Resistance for the mentha oil is at 1288.70 level.

Support or mentha oil is seen at 1257.80 level.

Mentha oil ended positive on the back of increasing demand