Friday, 06 December 2019
TIME 11:17 AM IST
MCX METALS MARKET REPORT
More or less a flat opening today in all metals and energies. US November nonfarm payrolls and Trump and his impeachment related news will be the key driver for global financial markets. Rupee trading with a softer bias today will prevent sharp weakness till 5:00pm. Direction of the rupee in the non-deliverable forward (NDF) market after 7pm (after NFP) can affect all metals and energies in MCX in a big way.
Just trade in the technical today. I expect a big gap between today’s close and Monday’s open. Low risk traders preferably close their open positions before MCX close. Nickel seems to be a good value for long term investment at current price. I even like natural gas but inability to rise is preventing me from giving an short term long call.
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Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani
Disclosure: Members, employees, directors, clients and all other people associated with “Insignia consultants” do trade in MCX metals and energies. They may or may not have positions on the trading strategies mentioned in this report. They may also have open positions in MCX metals and energies futures in trading strategies other than those mentioned in this report.
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NOTES TO THE ABOVE REPORT
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