MCX Report and MCX Trading calls for 1st August 2022

By: Admin
2 weeks ago
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Insignia Consultants

Monday, August 1, 2022

8:06 am IST

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MCX DAILY REPORT

The intraday trend is bullish for precious metals and base metals. The neutral trend for crude oil and natural gas. There are lots of trend-changing US economic data releases this week.

Buy or Sell – Intraday trading calls

  1. Buy gold October at 51357 stop loss 51191 for 52061 and 52329.
  2. Risk traders can buy silver open price stop loss 57890 for 59379 and 61012.
  3. Buy copper August at 643.80 stop loss 639.80 for 670.40.
  4. Sell crude oil august at 8167 stop loss 8244 for 7440.
  5. High risk traders can sell crude oil open price stop loss 7995 for 7594 and 7517.
  6. High risk traders can sell natural gas open price stop loss 653.20 for 631.90 and 613.60.

Gold October 2022: (previous day close/CMP Rs.51626.00)

Daily Support/Resistance:51357 & 52061

INTRADAY VIEW:

  1. Gold can rise to 52195 today as long as it trades over 51357.
  2. There will be sellers if gold trades below 51357.

Silver September 2022: (previous day close/CMP Rs.58370.00)

Daily Support/Resistance: 57812 & 59379

INTRADAY VIEW:

  1. Silver can rise to 60508 today as long as it trades over 57800.
  2. Silver will rise very quickly if it trades over 58800 today.

Crude oil 19th August 2022: (previous day close/CMP Rs.7842.00)

Daily Support/Resistance7689 & 8090

INTRADAY VIEW:

  1. Crude oil has to trade over 7689 to rise to 8167, 8339.
  2. There will be sellers only if crude oil trades below 7689 to 7517.

Natural gas 26th August 2022 (previous day close/CMP Rs.642.70):

Daily Support/Resistance: 613.60 & 689.80

INTRADAY VIEW:

  1. This week Ng will crash only if it trades below 613.60 to 581.20 and 545.60.
  2. If Ng does not fall below 613.60, then it will rise back to 704.20 and 740.70.

Copper August 2022: (previous day close/CMP Rs.657.15)

Daily Support/Resistance: 648.90 & 665.30

INTRADAY VIEW:

  1. Copper can rise to 665.30 today as long as it trades over 648.90.
  2. Copper will rise very quickly if it trades over 660.00.

Zinc August 2022: (previous day close/CMP Rs.295.85)      

Daily Support/Resistance: 290.70 & 300.90

INTRADAY VIEW: (a) Zinc can rise to 306.60 this week as long as it trades over 290.70.

Aluminum August 2022: (previous day close/CMP Rs.214.85):

Daily Support/Resistance:  211.30 & 218.30

INTRADAY VIEW: (a) Aluminum can rise to 223.90 this week as long as it trades over 208.10. (b) Aluminum will crash only if it trades below 208.10 this week.

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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MCX TRADING CALLS PERFORMANCE OF 27th July 2022

MORNING MCX REPORT

Buy or Sell – Intraday trading calls

  • Buy gold October at 50951 stop loss 50812 for 51674 and 52050. (call not executed)
  • Buy silver September only if it trades over 58050 after 2:00 pm stop loss 57860 for 58813 and 59444 (trade with strict stop loss) (MTM profit on closing price of 58370 = Rs.9300/-)
  • Sell crude oil august @7973 stop loss 8043 for 7507. (stop loss hit loss Rs.7000/-)

MID DAY MCX REPORT  

Buy or Sell – Intraday trading calls for the rest of the day – No calls

Total Profit on 29th July Rs.2,300/-