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Sunday, November 28, 2021

NMCE Rubber likely to trade with a negative bias: COIL

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Mon Tue Wed Thu
RSS 4 118.5 118.5 118 117.5
RSS 5 115 114 113 112
Ungraded 100 100 99 100
ISNR 20 105 105 104 104
Latex(60% drc) 87.7 85.6 84.55 83.5

Spot Rubber prices up slightly to Rs 100/ kg on Thursday.

NMCE Rubber September contract witnessed a minor short covering and closed at 11630. It has good support at 11430 and resistance at 11900. Prices are likely to trade with a negative bias in next trading session.

Indian futures scenario

NMCE Futures (Aug contract, INR)
Day Open High Low Close
Mon 11800 11830 11721 11730
Tue 11680 11695 11630 11675
Wed 11465 11465 11173 11310
Thu 11375 11500 11500 11311

Tocom (Jan contract Yen/ Kilogram)

Day Open High Low Close
Mon 198 198.4 196.1 196.3
Tue 195.5 196.7 194.8 195.9
Wed 194.4 195.3 193.9 194.7
Thu 195.1 196.2 194.8 195

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