Menthol oil yesterday traded with the positive node and settled 2.34% up at 1196.5 market traded firm as spot market was quoting 1265 and speculators created fresh long position, due to demand increased in the spot market with low stocks. Moreover, Mentha oil price also supported by the expectation of lower production and rising export demand from china, the world's largest importer of menthe oil. In yesterday's trading session menthol oil has touched the low of 1170.5 after opening at 1170.5, and finally settled at 1196.5. For today's session market is looking to take support at 1177.4, a break below could see a test of 1158.3 and where as resistance is now likely to be seen at 1208.7, a move above could see prices testing 1220.9. Trading Ideas:

Mentha Oil trading range is 1143.9-1203.

Mentha oil spot is at 1300/-.Spot is up by Rs. 25/-.

Market is holding support as speculators created fresh long position, due to demand in spot market.

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

Mentha oil support is at 1177 and resistance is at 1208

BUY MENTHOL JAN ABV 1202 SL 1192 TGT 1215-1222. MCX