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India: NMCE Rubber may witness gains on short covering

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Tue
RSS 4 121
RSS 5 115.5
Ungraded 106
ISNR 20 105
Latex(60% drc) 84.2

Spot Rubber prices declined to Rs 106/ kg on Tuesday.

Rubber prices at NMCE October contract traded firm on short covering by traders. It is likely to trade firm in next trading session as well on short covering. Trading range for next trading session is seen between 12050-12250 and either side break out will give clear direction to the prices.

Indian futures scenario

NMCE Futures (Oct contract, INR)
Day Open High Low Close
Tue 12130 12150 12075 12145

Tocom (March contract Yen/ Kilogram)

Day Open High Low Close
Tue 180 180.1 179 179.6

 – Commodity Online

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