Menthol oil yesterday traded with the positive node and settled 0.57% up at 1168.7 market is moderately Bullish trend prevailed due to rise in demand supported the prices. Increased arrivals in the mandis have been keeping pressure on the rates for Mentha Oil. Expected rise in export and domestic demand from pharmaceutical Industries are likely to provide further support to the prices in the medium term –as per traders. For today's session market is looking to take support at 1161.4, a break below could see a test of 1154 and where as resistance is now likely to be seen at 1176.7, a move above could see prices testing 1184.6.

Trading Ideas:

Mentha Oil trading range is 1104.6-1190.

Mentha oil spot is at 1275/-.Spot is up by Rs.10/-.

Market is holding support on buying fueled by receding arrivals in major mandies.

Total daily arrivals of mentha to be ranging between 300-350 drums at the major mandies of UP.

Mentha oil support is at 1149 and resistance is at 1176.

BUY MENTHOL JAN @ 1150-1154 SL 1142 TGT 1164-1178-1185.MCX