Rubber yesterday traded with the negative node and settled -3.91% down at 22190 after the wednesday's yesterday as the nation was celebrating Republic Day. The day before yesterday, quotes in the ready market retreated from the life time high level while futures extended its decline. In the international market, natural rubber prices in Bangkok, Malaysia and Indonesia dropped from the record peaks that prompted tyre manufacturers to enter the markets while China stayed off . ANRPC estimates global NR production to rise 2.9% in Jan on increased tapping Rubber consumption in China and India seen up at 9% and 5.2% respectively. ANRPC Vietnam’s rubber exports expected to rise 47% in Jan (YoY)  Thai Sri trang to raise $262 million in Singapore IPO NR production in Ivory Coast expected to rise 5% in 2011(Ivorian rubber association). In yesterday's trading session Rubber has touched the low of 22169 after opening at 23350, and finally settled at 22190. For today's session market is looking to take support at 21746, a break below could see a test of 21302 and where as resistance is now likely to be seen at 23057, a move above could see prices testing 23924.

Trading Ideas:

Rubber trading range is 21305-23927.

Rubber yesterday traded with the negative node and settled -3.91% down

Rubber daily stocks at Shanghai exchange came up by 70 tonnes

Spread between Rubber FEB & MAR contracts yesterday ended at 509.00. Spread yesterday traded in the range of 509 to 680.

RUBBER IS TESTING SUPPORT ON PROFIT BOOKING STILL INTERNATIONALLY FUNDAMENTALS ARE STRONG

NMCE accredited warehouses Rubber stock rosed by 142kgs to 10813kgs.