Friday, 03 April 2020
TIME 9:37 AM IST
MCX METALS MARKET REPORT – stay indoor, maintain social distancing
Gold, silver, crude oil have all opened higher. Higher global price and a weaker rupee are the reason. MCX is once again closed on Monday. I will suggest that one should close positions by 4:45. It is very difficult to predict Tuesday’s trend in all mcx metals and mcx energies. US March nonfarm payrolls is the key. No one really knows the reaction after the release of NFP on metals, energies and currencies. A lot of pessimism on NFP has already been factored.
Nickel 30th April 2020: (previous day close/CMP Rs.865.20):
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: closed: Traders will start taking positions for Tuesday. Monday forex markets are closed. It will be a very volatile trade. It is the first working day of the financial year 2020-2021 for forex markets. 75.40-76.20 is the wider range. Chances of 75.40 and 75.10 will be high as long as rupee trades below 76.20. US Dollar Index over 100 is preventing rupee gains at the moment.
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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
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NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
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