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Sunday, September 24, 2023

NMCE Rubber likely to move on a sideways note: COIL

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Mon Tue Wed Thu
RSS 4 111 111.5 112 112
RSS 5 106 107 108 108
Ungraded 96 95 96 97
ISNR 20 98 98 98 98
Latex(60% drc) 80.3 81.35 81.9 81.9

Spot Rubber prices up slightly to Rs 97/kg on Thursday.

NMCE Rubber futures for delivery in October witnessed range bound movement due to lack of fresh buying from traders and closed at 11300. It is likely to trade sideways in next trading session. Support is seen at 11200 and resistance at 11450.

Indian futures scenario

NMCE Futures (Sept contract, INR)
Day Open High Low Close
Mon 11198 11300 11150 11282
Tue 11200 11375 11200 11350
Wed 11400 11450 11360 11360
Thu 11399 11400 11261 11368

Tocom (Feb contract Yen/ Kilogram)

Day Open High Low Close
Mon 167.8 168.9 166.2 168.9
Tue 170.9 173.4 170.8 173.1
Wed 173.7 174 172.6 173.7
Thu 173.9 175.4 173.1 175.4

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