Insignia Consultants
New Delhi
Tuesday, 31 December 2019
TIME
8:35 AM IST
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MCX
METALS MARKET REPORTTo me every day is a celebration or a New Year Day. The words which I constantly remind myself are “metamorphosis” and “minimum”. Metamorphosis means change. Life and financial markets are in a period of constant change and we adapt the changing circumstances. The quicker we adapt to changes in financial markets, the more we make profit. Human body is a process of quick adaption to changes. Human body is in a constant state of “metamorphosis” and so is financial markets. The word “minimum” to me has vast usage. For my esteemed clients the “minimum” profit needed which I need to ensure they are able to generate with “minimum risk”. For my personal life the “minimum savings” which I need to sustain myself from unknown exigencies. “Minimum Food” which I need to have to be healthy and not overeat. “Minimum exercise” which I need daily to be healthy. To me the list for “minimum” is endless. (I am realist and please do not read the word “minimum” with a pessimistic angle”).
Trend for gold and silver is bullish at the moment. Copper, nickel and other industrial metals are in a neutral zone. MCX is open Full day on 1st January. Direction of the rupee against the US dollar will be the key till tomorrow apart from global factors.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.3200: Usd/inr needs to trade over 71.3625 today to rise to 71.4550 and 71.6050. Sellers will be there below 71.2250 to 71.1050 and 70.9675. Range bound trade should be there today but for some unforeseen demand on the last day of the calendar year.
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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.
Websitewww.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.
Insignia Consultants does not have any branches in India.
Insignia Consultants does not have any marketing agents in any city in
India.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE
SPECIFIED
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NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
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USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
THE
TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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