Wednesday, 22 January 2020
TIME 9:43 AM IST
MCX METALS MARKET REPORT
There can be very sharp two way moves like yesterday in all metals and energies. It will be a technical trade today. Focus will shift to European central bank meeting tomorrow. An epidemic spread of the Chinese Corona Virus can result in all industrial metals falling ten percent in the short term. News will be the key.
Natural gas is oversold. Sentiment and Momentum is down. One needs to look for signs of trend reversal. Stop losses will be useless in all metals and energies in MCX. Better to buy at market and sell at market. If you have to be away from trading screen for a few hours, then better to close intra positions. The reason is that a knee jerk price move against your trade will result in huge intraday losses.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.1675: Rupee can rise to 71.2925 and 71.4050 as long as it trades over 70.9800. Better to remain on the sidelines today.
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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
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