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Thursday, December 9, 2021

NMCE Rubber support seen at 11600: COIL

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Mon Tue Wed Thu Fri
RSS 4 118.5 118.5 118 117.5 117.5
RSS 5 115 114 113 112 112
Ungraded 100 100 99 100 101
ISNR 20 105 105 104 104 103.5
Latex(60% drc) 87.7 85.6 84.55 83.5 82.4

Spot Rubber prices up slightly to Rs 101/ kg on Friday.

Rubber continued short covering and closed at 11708 on NMCE September contract. It has good support at 11600 and resistance at 11900. Overall trend remains bearish and trading below 11600 level may bring fresh selling pressure in the market in coming sessions.

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
Fri 11350 11550 11550 11350

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
Fri 193.1 194.3 193.1 193.4

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