MCX Report : 12th October 2020

By: Admin
3 weeks ago
15092

Insignia Consultants

New Delhi

Monday, October 12, 2020

TIME 8:31 AM IST                       

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MCX TECHNICAL REPORT

Gold December 2020: (previous day close/CMP Rs.50817.00)

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Silver December 2020:  (previous day close/CMP Rs.62884.00)

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Crude oil 19th October 2020: (previous day close/CMP Rs.2960.00)

Support: 2896

Resistance: 3024-3064

Daily View: Key resistance is at 3063. Crude oil needs to break and trade over 3063 to rise t0 3167. Sellers will be there if crude oil trades below 2940

Initial support is ay 193.60. Sellers will be there if zinc trades below 193.60.

Lead 30th October 2020: (previous day close/CMP Rs.148.95):

Support: 147.10

Resistance: 149.90-151.90

Daily View: Lead needs to trade over 146.50-147.50 zone to rise to 152.90.

Nickel 30th October 2020: (previous day close/CMP Rs.1105.20):

Support: 1088.70

Resistance: 1121.60

Daily View: Nickel needs to trade over 1078.60 this week to rise to 1140.00. 1140. Sell off will be there if nickel trades below 1078.60.

 

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.Website www.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

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

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APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

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