Friday, September 17, 2021
TIME 4:50 PM IST
MCX BASE METALS REPORT
All base metals will rise or remain firm as long as Nickel continues to rise.
Copper 30th September 2021: (previous day close/CMP Rs.729.35)
Support/Resistance: 723.30 & 731.40
View: (a) Copper has to trade over 723-724 zone to rise to 733.90 and 739.90. (b) Copper will crash if it trades below 723 for the rest of the day to 719.90 and 714.40.
Zinc 30th September 2021: (previous day close/CMP Rs.258.90)
Support/Resistance: 256.10 & 260.20
View: Zinc has to trade over 257.10 to rise to 260.20 and 263.60. Zinc will rise quickly if it manages to trade over 259.00 between 5:00pm and 10:00pm to 262.20 and 266.00.
Lead 30th September 2021: (previous day close/CMP Rs.187.60)
Support/Resistance: 186.60 & 190.30
View: Lead has to trade over 186.60 to rise to 192.40. (a) Lead will crash if it trades below 186.60 between 6:00pm and 9:30pm.
Nickel 30th September 2021: (previous day close/CMP Rs.1510.10):
Support/Resistance: 1472.70 & 1533.60
View: (i) Nickel has to trade over 1490-1475 zone to rise to 1533.60 and 1572.10. (ii) There will be a sell off if nickel trades below 1490 (between 6:00pm and 11:30pm) to 1469.70 and 1448.00.
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.
ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED
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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