Monday, 23 March 2020
TIME 9:43 AM IST
MCX METALS MARKET REPORT – stay indoor, maintain social distancing
Please take the threat of CVOID seriously. We are humans first later religions, nations etc. Feed the needy and take steps to reduce our daily garbage. Rupee has weakened over 76.0000 for the first time against the US dollar. Gold and silver have opened higher due to weaker rupee. Crude oil is bearish on global lockdown. Gold options expiry is on 25th march (Wednesday). There will be position squaring and rebuilding in gold for end May by large traders and fund managers.
Economic data releases at the moment is useless. Trend of the rupee will be the key today.
MCX Crude oil 20th April 2020: (previous day close/CMP Rs.1787.00)
Premiums on physical gold and physical silver in the cash market will rise as more and more will convert their cash into gold/silver.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 76.0250: Key resistance is at 76.1975. A break of 76.1975 will result in 76.6875 and 77.0850. sellers will be there if rupee trades below 75.7050. Reserve bank of India intervention will be the key. US dollar demand will be mainly for corporate debt payables. Import demand will be zero. Export receivables will nosedive in the second quarter of the calendar year.
(For Trading Report, Whatsapp @9311139549)
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.
Insignia Consultants does not have any branches in India.
Insignia Consultants does not have any marketing agents in any city in India.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
Follow us on Twitter @insigniaconsul1
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
You can also download our Android App for these updates :
For live Updates You can also join our
For Full Reports and live trading calls please Call / Whatsapp 9311139549.
or mail to firstname.lastname@example.org
For todays Full report Please paytm using the barcode below: