MCX Base Metals Report: 13th August 2019

By: Admin
32981

Insignia Consultants

New Delhi

Tuesday, August 13, 2019

TIME 10:05AM IST                      

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MCX BASE METALS REPORT

Iron ore prices have been falling. Nickel is firm on long term demand outlook. Chinese increased buying of copper concentrate has prevented prices from falling.

I am against leaving any open positions in all industrial metals for next day. Thursday MCX is closed Full day due to Independence day.

Copper August 2019:  (previous day close/CMP Rs.444.05)

  1. Copper can rise to 450.50 as long as it trades over 441-452 zone.
  2. Remain on the sidelines today.

Zinc August 2019: (previous day close/CMP Rs.184.15)

  1. Zinc can rise to 187.10 AND 190.40 as long as it trades over 182.50-183.00 zone.
  2. Crash will be there only below 182.50.

Lead August 2019: (previous day close/CMP Rs.153.50):

  • Lead needs to trade over 153 to rise to 157.50 and 160.50.
  • Crash or sell off will be there only below 153.00.

Nickel August 2019: (previous day close/CMP Rs.1120.50):

  • Nickel needs to trade over 1100 to rise to 1150 and 1170.
  • Crash will be there below 1100.

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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