Friday, 29 May 2020
TIME 9:50 AM IST
MCX METALS MARKET REPORT – maintain social distancing
Industrial metals are consolidating at the last day of the month. Crude oil is trading with a firm bias. Next two weeks will be a time for traders to make bumper profit by trading in MCX metals futures and MCX energy futures. Do not incur any trading losses today. Technically all metals in MCX are bullish for June.
MCX Zinc June Rs.157.60 Zinc can rise to 162 by next week as long as it trades over 155.50.
MCX Lead June Rs.131.70 Lead needs to trade over 129.00 till next week to rise to 137.10.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 75.7000. A weaker US dollar and no war news on India-China Ladakh standoff has resulted in rupee gaining against the US dollar. This trend should continue for the rest of the day. Rupee can fall to 75.5950 as long as it trades below 75.8250.
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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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