Mentha oil yesterday ended flat as traders are reportedly waiting for more corrections before initiating fresh demand in the mandis. Major mandies of Uttar Pradesh such as Sambhal and Chandausi have witnessed arrivals of around 550 drums. The contract made intraday low of Rs 1195.6 a kg and high of Rs 1219.4 a kg with the volume of 2479 and total open interest for the same contact was at 4510.Now support for the menthol is seen at 1189.7 and below could see a test of 1180.8. Resistance is now likely to be seen at 1213.5, a move above could see prices testing 1228.4.

Trading Ideas:

Mentha Oil trading range is 1180.9-1229.

Resistance for the mentha oil is at 1213.50 level.

Support or mentha oil is seen at 1189.70 level.

Mentha oil yesterday ended flat as traders are reportedly waiting for more corrections