Monday, October 25, 2021
TIME 8:15 AM IST
MCX DAILY REPORT
Natural gas is very bullish. Gold, silver and copper can consolidate first and then make a move for a big rise.
Pre mcx open Trading Calls for 25th October
Gold December: Buy at 47291 stop loss 47024 for 48331
Silver December: Buy silver 5kg mini open price stop loss 64700 for 66950 – buy silver 30kg at 64957 stop loss 64525 for 66786
Copper October: Buy open price stop loss 755.10 for 767.60 (risk call).
Nickel October: Buy open price stop loss 1523.30 for 1573 and 1589.20 (risk call).
Natural Gas November: Buy open price stop loss 402.30 for 422.20 and 445.70.
Gold December 2021: (previous day close/CMP Rs.47797.00)
Daily Support/Resistance: 47291 & 48302
INTRADAY VIEW: (a) Gold can rise to 48302 and 48808 today as long as it trades over 47291. (b) Gold will crash only of 48302 is not broken by tomorrow.
Silver December 2021: (previous day close/CMP Rs.65656.00)
Daily Support/Resistance: 64957 & 66087
INTRADAY VIEW: (a) Silver has to trade over 64900-65000 zone to rise to 66570 and 67053. (b) There will be sell off only if silver trades below 64900.
Crude oil 18th November 2021: (previous day close/CMP Rs.6283.00)
Daily Support/Resistance: 6229 & 6369
INTRADAY VIEW: Crude oil has to trade over 6229 to be in an intraday bullish zone and rise to 6369 and 6455. (b) Crude oil will fall to 6170 and 6057 if it trades below 6229.
Natural gas 24th November 2021 (previous day close/CMP Rs.407.70):
Daily Support/Resistance: 398.70 & 426.70
INTRADAY VIEW: (a) Ng can rise to 426.70 today as long as it trades over 398.70.
Copper 29th October 2021: (previous day close/CMP Rs.759.90)
Daily Support/Resistance: 749.70 & 770.40
INTRADAY VIEW: (a) Copper has to trade over 749.70 to rise to 770.10 and 780.20. (b) Copper will crash if it trades below 749.70 to 739.60.
Zinc 29th October 2021: (previous day close/CMP Rs.284.10)
Daily Support/Resistance: 278.20 & 290.10
INTRADAY VIEW: Zinc has to trade over 278.20 to be in an intraday bullish zone and target 296.60. (a) Zinc will crash if it trades below 278.20 between 9:00am and 6:00pm to 271.60 and 264.90.
Lead 29th October 2021: (previous day close/CMP Rs.186.05)
Daily Support/Resistance: 184.10 & 189.20
INTRADAY VIEW: Lead has to trade over 184.10 to rise to 194.40. (a) Lead will crash only if it trades below 184.10 to 180.90.
Nickel 29th October 2021: (previous day close/CMP Rs.1548.50):
Daily Support/Resistance: 1523.30 & 1589.20
INTRADAY VIEW: (a) Nickel has to trade over 1507.70 till Wednesday to rise to 1601.80 and 1655.10. (b) Nickel will crash only if it trades below 1507.70.
Aluminum 29th October 2021: (previous day close/CMP Rs.230.70):
Daily Support/Resistance: 227.30 & 235.90
INTRADAY VIEW: (a) Aluminum has to trade over 225-225 zone till Wednesday to rise to 241.70. (b) Short term bearish trend will be there only if aluminum trades below 225.00.
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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