Thursday, 26 March 2020
TIME 10:30 AM IST
MCX METALS MARKET REPORT – stay indoor, maintain social distancing
Quarter end profit taking and rebuilding will be there till 31st march in all mcx metals and mcx energies. Crude oil is fundamentally bearish. Rise is just a speculative play. Copper and all industrial metals are long term bullish. Short term neutral.
The focus on everyone should be to survive healthily for the next two years or unless a vaccine is discovered. You can survive if you trade and invest carefully without any bias or your family owns lots of physical gold. Very few own lots of gold. So the only option is to trade and invest carefully.
Commodity exchange and stock markets are open. A few profitable trade a week will be possible only if you reduce greed and be happy with less profit. Trading in MCX can give you profit. However till 3rd April, one needs to day trade and/close all open positions before 11:25pm every day.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 75.2950: Rupee can fall to 75.000 and 74.3050 as long as it trades below 75.8000. Only a break of 75.8000 will trigger another wave of rise. Importers who cannot pay should look for opportunity to hedge in currency futures.
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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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