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Wednesday, August 17, 2022

NMCE Rubber likely to remain bearish: COIL

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Mon Tue Wed Thu
RSS 4 120 119 119 119
RSS 5 118 117 116.5 116
Ungraded 104 102 102 103
ISNR 20 107 106 106 105
Latex(60% drc) 97.2 95.1 94.05 91.95

Spot Rubber prices edged up to Rs 103/ kg on Thursday.

Rubber traded in a narrow range and closed at 11840 on NMCE August contract. It is expected to remain bearish in next trading session and traders may stay with short positions. Support at 11650 and resistance at 12050.

Indian futures scenario

NMCE Futures (Aug contract, INR)
Day Open High Low Close
Mon 11900 11950 11661 11800
Tue 11700 11920 11690 11825
Wed 11700 11855 11775 11850
Thu 11825 11875 11785 11846

Tocom (Jan contract Yen/ Kilogram)

Day Open High Low Close
Mon 197.4 198.9 197 198.5
Tue 195.6 199.4 195.6 198.9
Wed 196.7 199 196 198.4
Thu 196.9 198.8 196.2 197.8

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