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MCX Report and MCX Trading calls for 2nd August 2022

By: Admin
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Insignia Consultants

Tuesday, August 2, 2022

8:00 am IST

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MCX DAILY REPORT & MCX TRADING CALLS

The intraday trend is bullish for precious metals and base metals. Crude oil continues to fall then usd/inr will also fall below 79.00 and remain below 79.00.

Buy or Sell – Intraday trading calls

  1. Buy gold October at 51165 stop loss 50979 for 52054
  2. Buy silver September at 57779 stop loss 57441 for 59041
  3. Buy copper august at 637.50 stop loss 634.10 for 656.30 and 661.90.
  4. High risk traders can sell crude oil open price stop loss 7537 for 7314 and 7190.
  5. High risk traders can sell natural gas open price stop loss 657.70 for 619.30.
  6. High risk traders can buy gold open price stop loss 51451 for 51682 and 51785.

Gold October 2022: (previous day close/CMP Rs.51517.00)

Daily Support/Resistance:51165 & 51868, 52220

INTRADAY VIEW:

  1. Gold can rise to 52220 today as long as it trades over 51248.
  2. Gold will crash only if it trades below 51248 till tomorrow.

Silver September 2022: (previous day close/CMP Rs.58326.00)

Daily Support/Resistance: 57441, 57988 & 59041

INTRADAY VIEW:

  1. Silver can rise to 59757 today as long as it trades over 57600-57900 zone.
  2. Silver will rise very quickly if it trades over 58500 today.
  3. Use a buy on dips strategy with a stop loss below 57600.

Crude oil 19th August 2022: (previous day close/CMP Rs.7426.00)

Daily Support/Resistance7689 & 8090

INTRADAY VIEW:

  1. Key support till future close on 19th August is at 7303.
  2. Initial support is at 7442.
  3. Crude oil has to trade over 7442 to be in an intraday bullish zone and rise to 7537 and 7898.
  4. There will be sellers only if crude oil trades below 7442 today to 7348, 7303 and 7192.

Natural gas 26th August 2022 (previous day close/CMP Rs.645.50):

Daily Support/Resistance: 593.10, 619.30 & 671.70

INTRADAY VIEW:

  1. This week Ng will crash only if it trades below 633.10 to 619.30 and 605.40 and 573.10.
  2. If Ng does not fall below 633.10, then it will rise back to 671.70 and 697.90.

Copper August 2022: (previous day close/CMP Rs.647.95)

Daily Support/Resistance: 639.50 & 656.30

INTRADAY VIEW:

  1. Copper has to trade over 639.50 to rise to 656.30 and 664.80.
  2. Copper will crash only if it trades below 639.50.

Zinc August 2022: (previous day close/CMP Rs.298.45)      

Daily Support/Resistance: 295.10 & 305.70

INTRADAY VIEW: (a) Zinc can rise to 306.60 today as long as it trades over 295.10.

Aluminum August 2022: (previous day close/CMP Rs.211.00):

Daily Support/Resistance:  208.60 & 215.90

INTRADAY VIEW: (a) Aluminum can rise to 215.90 and 218.40 today as long as it trades over 208.60.

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 1st August 2022

MORNING MCX REPORT (pre mcx open trading calls)

Buy or Sell – Intraday trading calls

  1. Buy gold October at 51357 stop loss 51191 for 52061 and 52329. (MTM profit on closing price of 51517 = Rs.16000/-)
  2. Risk traders can buy gold October open price stop loss 51357 for 52061.(Loss Rs.11000/-)
  3. Buy silver September at 57600 stop loss 57261 for 60508. (call not executed)
  4. Risk traders can buy silver open price stop loss 57890 for 59379 and 61012. (call not executed) (MTM profit on closing price of Rs. 58326=Rs.780/-)
  5. Buy copper August at 643.80 stop loss 639.80 for 670.40. (call not executed)
  6. Sell crude oil august at 8167 stop loss 8244 for 7440. (call not executed)
  7. High risk traders can sell crude oil open price stop loss 7995 for 7594 and 7517. (profit on target2 Rs.14900/-)
  8. High risk traders can sell natural gas open price stop loss 653.20 for 631.90 and 613.60. (Profit on target2 Rs.28000/-)

MID DAY MCX REPORT  

Buy or Sell – Intraday trading calls for the rest of the day

  1. Buy or Sell – Intraday trading calls for the rest of the day –
  2. Buy copper august at 650.00 stop loss 647.40 for 665.30 (stop loss hit loss Rs.6500/-)
  3. Buy silver at 58291 stop loss 57839 for 60207. (MTM profit on closing price of Rs.58326 = Rs.1050/-)

Total Profit on 1st August Rs.43,230/-