Domestic Spandex values reach upper resistance band
The latest market assessment reveals a sustained positive trend for Spandex, which has reached the top end of its recent trading band. Over the last week, the market saw a steady climb of Rs 4/kg, bringing the current rate to Rs 415/kg. This move is part of a broader strengthening trend where Indian Spandex prices have appreciated by a total of Rs 8/kg over the past fortnight. The absence of sharp reversals through the week indicates a confident market sentiment among domestic participants.
Looking at the medium-term context, the price range has been established between Rs 393/kg and Rs 415/kg. By maintaining levels near the upper resistance, the market shows resilience against downward pressure. Indian Spandex prices are currently supported at Rs 407/kg, a level that has reinforced the steady upward movement from previous weeks. Furthermore, Spandex prices in India reflect a gradual monthly build rather than a sudden jump, which allows for more predictable procurement planning. Trading conditions have remained orderly with limited intraday swings, suggesting that the recent gains are being consolidated effectively. As the market tests the Rs 415/kg resistance level, all eyes are on whether this streak will continue or if a period of stabilization will follow. The current trajectory suggests that the market has moved past earlier hesitation to embrace a firmer pricing structure, Spandex, Domestic Market, Price Increase, Resistance Zone, Textile Market.
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