MCX Report and MCX Trading calls for 19th November 2021

By: Admin
41445

Insignia Consultants

New Delhi

Friday, November 19, 2021 TIME 1:17 PM IST                                 

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MCX DAILY REPORT – mcx will open at 5:00pm

Today and Monday there are no US economic data releases. It will be a technical trade till Monday. Copper, zinc, lead and nickel and aluminum may have formed a short term bottom yesterday.

Gold December 2021: (previous day close/CMP Rs.49059.00)

Daily Support/Resistance: 48885 & 49426

INTRADAY VIEW: (a) Gold has to trade over 48885 to rise to 49426 and 49794. (b) There will be sellers if gold trades below 48885 to 48324.

Silver December 2021: (previous day close/CMP Rs.65970.00)

Daily Support/Resistance: 65527 & 66686

INTRADAY VIEW: (a) Silver has to trade over 65253 till Monday to rise to 66907 and 67402. (b) There will be a selloff if silver trades below 65253.

Crude oil 17th December 2021: (previous day close/CMP Rs.5822.00)

Daily Support/Resistance: 5763 & 5916

INTRADAY VIEW: Crude oil can rise to 5946 and 6070 as long as it trades over 5763. 

Natural gas 24th November 2021 (previous day close/CMP Rs.362.70):

Daily Support/Resistance: 351.10 & 387.30

INTRADAY VIEW:  (a) Ng has to trade over 351.10 to rise to 411.90 (b) Ng will crash if it trades below 351.10.

Copper 30th November 2021: (previous day close/CMP Rs.718.65)

Daily Support/Resistance: 710.20 & 735.00

INTRADAY VIEW: (a) Copper has formed a short term bottom yesterday. Copper can rise to 747.50 by next week as long as it trades over 707-710 zone. The next big crash will be there only if copper trades below 707 till the first week of December.

Zinc 30th November 2021: (previous day close/CMP Rs.265.10)

Daily Support/Resistance: 261.10 & 273.30

INTRADAY VIEW: Zinc can rise to 273.50 and 282.10 by next week as long as it trades over 256.60-259.00 zone. Use a buy on crashes strategy with a stop loss below 256.60 for end November.

Lead 30th November 2021: (previous day close/CMP Rs.189.10)

Daily Support/Resistance:  184.80 & 194.60

INTRADAY VIEW: Lead can rise to 194.60 and 200.20 (by next week) as long as it trades over 186.40.

Nickel 30th November 2021: (previous day close/CMP Rs.1513.40):

Daily Support/Resistance: 1502.40 & 1531.20

INTRADAY VIEW: (a) Nickel can rise to 1536.70 and 1560.00 today as long as it trades over 1484-1490 zone.

Aluminum 30th November 2021: (previous day close/CMP Rs.207.25):

Daily Support/Resistance: 204.60 & 211.30

INTRADAY VIEW: (a) Aluminum can rise to 218.30 (by next week) as long as it trades over 204.60. (b) Aluminum will also rise quickly if it manages to trade over 208.50 today.

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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