Wednesday, October 27, 2021
TIME 8:40 AM IST
MCX DAILY REPORT
Gold and silver can fall first and then rise. One should use two percent and more fall (if any) to go long for next week in gold and silver. The next three days are very crucial for copper and base metals. If they fall then October lows will be tested. Buyers of copper, nickel, lead, zinc, and aluminum be very careful. Energies are still bullish.
Pre mcx open Trading Calls for 27th October
Gold December: Sell gold if opens below 47750 stop loss 47836 for 47596 and 47296.
Silver December: Buy at 63919 stop loss 63354 for 66311 (risk traders can sell open price stop loss 65212 for 64483 and 64171)
Copper November: Sell open price stop loss 766.10 for 755.20 and 751.30
Natural Gas November: Buy only if nickel trade over 460.00 stop loss 456.90 for 478.40 and 491.60. (risk call)
Gold December 2021: (previous day close/CMP Rs.47813.00)
Daily Support/Resistance: 47333 & 48292
INTRADAY VIEW: (a) Gold has to trade over 47677 to be in an intraday bullish zone and rise to 48292 and 48760. (b) Gold will crash if it trades below 47677 to 47320, 47014 and 46905.
Silver December 2021: (previous day close/CMP Rs.64989.00)
Daily Support/Resistance: 63748, 64772 & 65494, 66059
INTRADAY VIEW: (a) Silver has to trade over 64772 to be in an intraday bullish zone and rise to 66059 and 67129. (b) There will be sell off to 63748 if silver trades below 63748.
Crude oil 18th November 2021: (previous day close/CMP Rs.6360.00)
Daily Support/Resistance: 6316 & 6453
INTRADAY VIEW: Crude oil has to trade over 6316 to rise to 6453 and 6546. (b) Crude oil will fall to 6316 today to 6267 and 6174.
Natural gas 24th November 2021 (previous day close/CMP Rs.452.90):
Daily Support/Resistance: 427.40 & 478.40
INTRADAY VIEW: (a) Ng has to trade over 465-475 zone till 24th November to continue its bullish trend and rise to 503.90 and 600. (b) Ng will crash to 401.90 first in case 478.40 is not broken in the next seven days. (c) Today there will be sell off only if it trades below 448.90 to 440.80, 433.40 and 427.40.
Copper 30th November 2021: (previous day close/CMP Rs.762.50)
Daily Support/Resistance: 755.10 & 769.90
INTRADAY VIEW: (a) Copper can fall to 755.20 and 747.70 as long as it trades below 769.90. (b) Copper has to trade over 769.90 till Friday to be in a bullish zone.
Zinc 30th November 2021: (previous day close/CMP Rs.282.90)
Daily Support/Resistance: 279.10 & 285.80
INTRADAY VIEW: Zinc will crash if it trades below 281.10 to 279.10 and 275.40. (a) Zinc has to trade over 284.70 to be in an intraday bullish zone.
Lead 30th November 2021: (previous day close/CMP Rs.187.45)
Daily Support/Resistance: 183.20 & 190.70
INTRADAY VIEW: Lead has to trade over 185.40 to rise to 190.70 and 194.10. (a) Lead will crash only if it trades below 185.40 to 183.20 and 279.20.
Nickel 30th November 2021: (previous day close/CMP Rs.1565.20):
Daily Support/Resistance: 1529.20 & 1592.90
INTRADAY VIEW: (a) Nickel has to trade over 1548.20 to rise to 1601.20 and 1636.90. (b) Nickel will crash if (a) Nickel does not break 1601.20 by Friday and (b) Nickel trades below 1493.50.
Aluminum 30th November 2021: (previous day close/CMP Rs.229.50):
Daily Support/Resistance: 226.60 & 232.30
INTRADAY VIEW: (a) Aluminum has to trade over 228.00 to rise to 235.50 and 243.70. (b) Aluminum will crash if it trades below 228.00.
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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