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Wednesday, October 4, 2023

NMCE Rubber likely to trade sideways to bullish: COIL

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Fri Mon
RSS 4 111 111
RSS 5 106 106
Ungraded 94 96
ISNR 20 98 98
Latex(60% drc) 79.25 80.3

Spot Rubber prices rose to Rs 96/kg on Monday.

NMCE Rubber Oct contract traded positive on short covering by traders. It is likely to trade sideways to bullish in next trading session as well. Trading range for next trading session is seen between 11350-11100 and either side break out will give clear direction to the prices.

Indian futures scenario

NMCE Futures (Sept contract, INR)
Day Open High Low Close
Mon 11198 11300 11150 11282

Tocom (Feb contract Yen/ Kilogram)

Day Open High Low Close
Mon 167.8 168.9 166.2 168.9

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