Rubber yesterday traded with the positive node and settled 1.72% up at 24398 amid speculation that China, the largest consumer, may step up buying to rebuild stockpiles before the low-production period begins in major growing areas in Thailand.  China may have to increase rubber purchases to replenish stockpiles while supply is available. The seasonal drop in production is set to occur after La Nina brought higher-than-average rain to parts of Southeast Asia, curbing output in Thailand, Indonesia and Malaysia. The three countries account for about 70 percent of global supply. In yesterday's trading session Rubber has touched the low of 24075 after opening at 23970, and finally settled at 24398. For today's session market is looking to take support at 24105, a break below could see a test of 23813 and where as resistance is now likely to be seen at 24660, a move above could see prices testing 24923.

Trading Ideas:

Rubber trading range is 23813-24923.

Rubber ended higher amid speculation that China may step up buying to rebuild stockpiles

Rubber daily stocks at Shanghai exchange came down by 790 tonnes.

Spread between Rubber MAR & APR contracts yesterday ended at 932.00. Spread yesterday traded in the range of 886 to 1075.

NMCE accredited warehouses Rubber stock rosed by 12kgs to 11953kgs.