Geofin Comtrade has come out with its report on Rubber. According to the research firm, Rubber NMCE Jan has support at Rs 12050-11960 However, resistance at Rs 12750/12850
Natural rubber culminated the previous week's session on a positive note. NMCE rubber futures advanced for the second successive week to test its highest level since early September this year. Quotes for RSS4 in the physical market rose as well in holiday thinned trades. While the Rubber Board rates were at Rs.130 a kg, in the spot market it was hovering near Rs.127-128 a kg. Overall market sentiments were largely upbeat following the new rubber purchase formula announced by the government though some apprehensions still prevailed in the market over its implementation and success. Rising natural rubber prices in the international market lend support too.⊳ In the overseas market, as the week's session commences, natural rubber is seen on a greener turf. TOCOM, SHFE as well as AFET rubber futures are seen rising on Monday. Unfavorable weather in Thailand and Malaysia, and weakening yen lifted prices.
RUBBER Jan NMCE
It is mandatory to clear the immediate hurdle of 12750 to continue the prevailing up-moves to 12850-13000 ranges. Else range bound moves inside 12750-12200 may be seen.
| SUPPORTS | TURNAROUND LEVEL | RESISTANCES |
| 12050-11960 | 12750-12200 | 12750/12850 |
| 12250-12150 | 13000-13100 | |
| 12450/12350 | 13360/13500 |
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