MCX DAILY REPORT : 11TH JULY 2019

By: Admin
2 weeks ago
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Insignia Consultants

New Delhi 

Thursday, July 11, 2019

TIME 8:34 AM IST

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MCX TECHNICAL REPORT

Direction of the rupee will be the key. Trend of gold and silver and crude oil is bullish at the moment. 

TECHNICAL VIEW

Gold August 2019: (previous day close/CMP Rs.34839)

Small sell off below: 34660

Quick rise over: 34932

  • There will be another wave of rise over 34932 to 35148 and 35708. 

  • Overall trend is bullish as long as gold trades over 34360. 

Silver September 2019:  (previous day close/CMP Rs.38320)

Small sell off below: 37994

Quick rise over: 38665

  1. Silver can rise to 38665 and 39091 by Monday as long as it trades over 37994.

  2. Crash will be there below 37994 only.

Copper July 2019:  (previous day close/CMP Rs.442.40)

Small sell off below: 441.30

Quick rise over: 443.10

  1. Copper needs to trade over 438.50 till tomorrow to rise to 448 and 451.30. 

  2. Crash will be there below 438.50. 

Crude oil 19th July 2019: (previous day close/CMP Rs.4116)

Small sell off below: 4089

Quick rise over: 4141

  1. Crude oil can rise to 4245 and 4346 by tomorrow as long as it trades over 4052. 

  2. Crash will be there below 4052. 

  3. There can be very sharp two way moves.

Zinc July 2019: (previous day close/CMP Rs.192.85) 

Small sell off below: 191.90

Quick rise over: 193.40

  1. Zinc needs to trade over 191-191.50 zone till tomorrow to rise to 197 and 201. 

  2. Watch 192. Zinc can move 4-5 either side from 192.

Lead July 2019: (previous day close/CMP Rs.156.75): 

Small sell off below: 156.90

Quick rise over: 157.20

  • Lead can rise to 160 as long as long as it trades over 154.50-155 zone.

Nickel July 2019: (previous day close/CMP Rs.915.30): 

Small sell off below: 892.30

Quick rise over: 914.00

  • Nickel needs to trade over 907-910 zone to rise to 924 and 940. 

  • Watch 910. Nickel can move 25-30 either side from 910. 

  • Trend is bullish at the moment.

Natural gas 26th July 19 (previous day close/CMP Rs.167.20): 

Small sell off below: 164.90

Quick rise over: 170.90

  • NG needs to trade over 164.90 to rise to 173.60 and 185.40.

  • Crash will be there if NG does not break 172 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

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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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