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Wednesday, May 25, 2022

NMCE Rubber likely to test support at 9500: COI

Natural Rubber

Kottayam Spot (Rs/kg) current week

Variety Mon Tue
RSS 4 95 96
RSS 5 93 93.5
Ungraded 87 88
ISNR 20 88.5 90
Latex(60% drc) 75.55 75.55

Spot Rubber prices edged up to Rs 88/kg on Tuesday.

NMCE Rubber for March delivery lost 228 points or 2.30% to close at 9670 on Tuesday. Prices have closed below support at support 9740 which indicates a reversal in the current trend. Rubber may decline further to test support at 9500 and 9250 in the next few sessions.

Indian futures scenario

NMCE Futures (Mar contract, INR)
Day Open High Low Close
Mon 9825 9917 9810 9885
Tue 9850 9910 9650 9670

Tocom (July contract Yen/ Kilogram)

Day Open High Low Close
Mon 155.2 155.8 154.4 155.7
Tue 155.6 155.7 154.1 154.5

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