MCX Report and MCX Trading calls for 5th August 2022

By: Admin
84985

Insignia Consultants

Friday, August 5, 2022

8:35 am IST

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MCX DAILY REPORT

We missed out on yesterday’s rally in the gold and silver party due to a weaker rupee. Those who understood the technical view, still managed to make good money. Big day today due to the release of US July nonfarm payrolls at 6:00 pm.

Buy or Sell – Intraday trading calls

  1. Buy silver September open price stop loss 57668 for 58295 and 58647 (risk call. Trade with strict stop loss.)
  2. Buy copper august at 638.60 stop loss 633.90 for 662.30.
  3. One can also buy copper open price stop loss 641.60 for 662.30.
  4. Risk traders can buy gold October if it opens over 52205 stop loss 52136 for 52443 and 52754. (trade with strict stop loss.)

Gold October 2022: (previous day close/CMP Rs.52165.00)

Daily Support/Resistance:51575 & 52754, 53344

INTRADAY VIEW:

  1. Gold can rise to 53344 today as long as it trades over 51714.
  2. Gold will crash only if it trades below 51714 between 1:00 pm and 11:30 pm close.
  3. Gold will rise very quickly if it trades over 52250-52300 zone today and more so between 6:00 pm and 11:30 om close.

Silver September 2022: (previous day close/CMP Rs.57982.00)

Daily Support/Resistance: 57317, 57668 & 58647

INTRADAY VIEW:

  1. Silver needs to trade over 57317 to rise to 59312.
  2. Silver will crash only if it trades below 57317.
  3. Silver will crash only if it does not break 58803 today.

Crude oil 19th August 2022: (previous day close/CMP Rs.7034.00)

Daily Support/Resistance: 6764, 6971 & 7176, 7431

INTRADAY VIEW:

  1. There will be a technical breakdown if crude oil trades below 6971 to 6765 and 6510.
  2. Crude oil needs to trade over 7114 to be in an intraday bullish zone.

Natural gas 26th August 2022 (previous day close/CMP Rs.646.55):

Daily Support/Resistance: 613.00 & 685.50

INTRADAY VIEW:

  1. Ng has to trade over 632.00 to be in an intraday bullish zone and rise to 685 and 704.
  2. Ng will crash if it trades below 632 to 613 and 576.

Copper August 2022: (previous day close/CMP Rs.646.55)

Daily Support/Resistance: 636.20 & 652.40

INTRADAY VIEW:

  1. Copper can rise to 662.30 today as long as it trades over 636.
  2. Use a buy on dips strategy with a stop loss below 633.70.

Zinc August 2022: (previous day close/CMP Rs.308.30)      

Daily Support/Resistance: 289.00 & 299.70

INTRADAY VIEW: (a) Zinc has to trade over 309.70 to rise to 313.90 and 317.70 and 325.20. (b) There will be sellers only if zinc trades below 304.

Aluminum August 2022: (previous day close/CMP Rs.209.45):

Daily Support/Resistance:  207.00 & 211.70

INTRADAY VIEW: (a) Aluminum has to trade over 207.00 to rise to 214.30 and 219.20. There will be sellers only below 207.00.

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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MCX TRADING CALLS PERFORMANCE OF 4th August 2022

MORNING MCX REPORT (pre mcx open trading calls)

Buy or Sell – Intraday trading calls

  • Buy gold October at 50833 stop loss 50662 for 51838.
  • Buy silver September at 56286 stop loss 55501 for 59605 (call for Monday).
  • Buy copper august at 631.80 stop loss 626.30 for 657.90.
  • Sell crude oil august at 7700 stop loss 7867 for 6925.

(none of the trading calls were executed above)

MID DAY MCX REPORT  

  • Buy gold October if it trades over 52195 after 6:00 pm stop loss 52061 for 52335 and 52725. (call not executed)
  • Buy silver September at 57518 stop loss 56549 for 59570 (call for tomorrow) (call not executed)
  • One can also buy silver if it trades over 58600 after 6:15 pm stop loss 58346 for 59270. (call not executed)
  • Buy copper august @630.90 stop loss 626.70 for 651.50 (call not executed)
  • I am against buying crude oil unless it trades over 7358 after 8:00 pm stop loss 7286 for 7479. (call not executed)
  • Sell mcx natural gas august if it trades below 650.80 (after 8:00 pm, after US weekly ng inventories) stop loss 665.90 for 631.70 and 595.60. (call not executed)

Total Profit/Loss on 4th August NIL AS NONE OF THE TRADING CALLS WERE EXECUTED YESTERDAY.