MTECHTIPS

MTECHTIPS:-India Natural Rubber firm in spot, 18400 a good support on NMCE

Kottayam spot markets witnessed trade in RSS 4 variety at the rate of Rs.191/kg for Wednesday. RSS 5 variety raked in Rs.186/kg even as ungraded variety Rs.178-180 a kilogram.The trend has been firm/steady in the natural rubber markets in Kottayam. The climate is hot and there has been nothing to the effect of export demand. Tyre companies have not been active participants in the markets, a trader said.“Rubber prices were sideways to firm on NMCE November contract on some buying sentiments on Wednesday. From current levels, Rs.18800 is a good resistance for prices while Rs.18400 is a good support. Traders can go long above Rs.18800 level in tomorrow trading session.” said our in-house analyst.The TOCOM markets meanwhile is exhibiting a flat trend when it comes to natural rubbber on Thursday. The prices rule at 269.3 yen a kilogram as of 14:00 hrs Japan time.