Spot Rubber prices steady at Rs 87/kg on Monday.
NMCE Rubber for Feb delivery declined 2.86% to close at 9824.0, its lowest level since August 2009. Support is seen at 9500 and then further lower at 9000 this week. Today’s sharp downside move indicates a resumption of the current downtrend. The intraday bias is negative for tomorrow.
Indian futures scenario
|NMCE Futures (Feb contract, INR)|
Tocom (June contract Yen/ Kilogram)