Mentha oil November contract dropped Rs 34.7 and settled at Rs 1196 a kg as demand remain subdued amid steady arrivals. The demand for the commodity is not picking up in the physical market. The contract made intraday low of Rs 1181.5 a kg and high of Rs 1243 a kg with the volume of 4997 and total open interest for the same contact was at 5107.Now support for the menthol is seen at 1170.7 and below could see a test of 1145.3. Resistance is now likely to be seen at 1232.2, a move above could see prices testing 1268.3.

Trading Ideas:

Mentha Oil trading range is 1143.8-1267.

Resistance for the mentha oil is at 1210.80 level.

Support or mentha oil is seen at 1182.20 level.

Mentha oil ended lower as demand remain subdued amid steady arrivals