Mentha oil December contract gained Rs 8.8 and settled at Rs 1078.1 a kg on short covering after prices fell heavily in last week and yesterday also due to increased arrivals in the mandis amidst low demand. The contract made intraday low of Rs 1029 a kg and high of Rs 1080 a kg with the volume of 6169 and total open interest for the same contact was at 4303.Now support for the menthol is seen at 1044.7 and below could see a test of 1011.4. Resistance is now likely to be seen at 1095.7, a move above could see prices testing 1113.4.

Trading Ideas:

Mentha Oil trading range is 1010.2-1112.

Resistance for the mentha oil is at 1092.20 level.

Support or mentha oil is seen at 1060.80 level.

Mentha oil ended positive on short covering after prices fell heavily in last week