MCX Copper, Zinc, Lead and Nickel technical view

By: Admin
30125

Insignia Consultants

New Delhi

Wednesday, May 5, 2021 TIME 11:38 AM IST                                

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MCX Copper, Zinc, Lead and Nickel technical view

MCX Copper May:  (CMP Rs.768.20): Support & Resistance: 757.30 & 777.30

MCX Nickel May:  (CMP Rs.1334.70): Support & Resistance: 1310.40 & 1386.60

MCX Zinc May: (CMP Rs.236.60): Support & Resistance: 232.40 & 243.90

MCX Lead May (CMP Rs.175.70): Support & Resistance: 171.70 & 182.10

Factors to watch to this week:

  1. Trend, momentum and investment interest is all very bullish for copper and all base metals.
  2. Chinese demand from tomorrow is the key. (China will open from tomorrow).
  3. Nickel is the underperformer among all base metals. Incremental gains in Nickel will be much more than other base metals if it manages to trade over current price for a week.
  4. Resumption of mine supplies or production normalization of copper mines in South American is the key risk to continuance of bullish base metals trend.

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. Customer care, whatsapp/telegram 9311139549

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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