Rubber yesterday traded with the negative node and settled -0.42% down at 22894. Indian tyre makers bought natural rubber at a record 225 rupees ($4.94) per kg on Monday due to limited supplies in the spot market. Supply situation was very tight. Farmers were holding back stocks, expecting domestic prices to come at par with the international market. In yesterday's trading session Rubber has touched the low of 22865 after opening at 22410, and finally settled at 22894. For today's session market is looking to take support at 22789, a break below could see a test of 22685 and where as resistance is now likely to be seen at 23074, a move above could see prices testing 23255.

Trading Ideas:

Rubber trading range is 22685-23255.

Indian tyre makers bought rubber at a record 225 rupees per kg  due to limited supplies in spot market

Rubber daily stocks at Shanghai exchange came down by 610 tonnes

Spread between Rubber FEB & MAR contracts yesterday ended at 496.00. Spread yesterday traded in the range of 496 to 1190.

BUY RUBBER FEB ABV 23000 SL 22880 TGT 23180-23340-23480.NMCE

NMCE accredited warehouses Rubber stock rosed by 96kgs to 9848kgs.