Tuesday, 04 August 2020
TIME 9:16 AM IST
MCX METALS MARKET REPORT – wear mask
Direction of the Indian rupee against the US dollar will be the key till 5pm. Momentum and technical are all bullish for gold, silver, industrial metals and crude oil. Lots of US economic data releases (including July jobs) are there till Friday. One needs to look for signs of trend reversal in all metals and energies. It will not be a one way traffic in this week and in August. Trade with a very high stop loss. One needs to keep on booking partial profit on all MCX metal future trades. (if trade is of more than two lots). Low risk traders should trade in mini lots.
MCX Nickel August: Current price: Rs.1055.50 Nickel can rise to 1072.70 and 1115.90 (by tomorrow) as long as it trades over 1041.90. Sellers will be there below 1041.90 to 1026.50 and 1011.10. Trend is very bullish.
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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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