MCX Metals Market Report: 20th January 2020

By: Admin
6262

Insignia Consultants

New Delhi

Monday, 20 January 2020

TIME 9:15 AM IST                         

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MCX METALS MARKET REPORT

Gold and silver have opened slightly lower. Crude has opened higher and will zoom if it is able to trade over open price (till day’s close). Natural gas continues to sink. Nickel, copper and other industrial metals are firm. Demand around the Chinese New Year over the next two weeks will be the key for all metals and energies. Right now focus is on Trump and his impeachment news.

Gold April-Gold February spread/badla is at Rs.100. It can rise to Rs.120 and Rs.140 zone this week if prices do not fall.

Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.1150: Rupee can rise to 71.2925 and 71.4050 as long as it trades over 70.9800. Sellers till tomorrow will be there below 70.9800.

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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

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT