MCX METALS AND ENERGIES MARKET VIEWS
Rupee will be very volatile today and can affect all metals and energies.
Some Media Reports: Indian can take measures to limit gold imports
There is some media reports that India will take measures to curb gold imports. The purpose to reduce unnecessary imports. All I can is that past measures to curb gold imports has resulted in higher smuggling. It is better to increase gold import duties rather than help smugglers. Small and tiny jewelers will get affected as law enforcers harasses them the most. The current NDA government only supports large enterprises and ignores small and tiny unorganized sector right from day one. I am not be surprised if there are curbs on gold imports by India.
Nickel September 2018: (previous day close/CMP Rs.893.40):
Bullish over 900.10 with 914.30 and 920.00 as price target.
Bearish below 886.90 with 879.50 and 865.90 as price target.
One Support: 886.90
One Resistance: 900.10
o Crash will be there below 886.90 only.
o Nickel needs to trade over 900 to rise further.
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