Insignia Consultants
New Delhi
Friday, 31 January 2020
TIME
9:07 AM IST
----------------------------------------------------------------------------------------------------------------
MCX
METALS MARKET REPORTGold and silver have opened once with a big gap this time lower. January is not yet over is the message.
My last investment call in gold was before Christmas to invest for Easter of this year. I had advised to invest in gold around $1460 with a stop loss below $1410. In MCX the call was to invest in gold February around Rs.37800 with a stop loss below Rs.36800 for end January. Gold investment calls before Christmas has been perfect.
China will open next week. Difficult to predict where metals and energies will head. Spread of Chinese corona virus (if any) on the weekend will be the key on Monday.
Budget will affect gold and silver traders, jewelers and buyers of physical gold. Modi government right from 2014 has been anti jewelers. I not expect any change in stance of Modi government. Smuggling of gold will only increase after the budget.
Gold spread/badla fell from Rs.266 to Rs.98 on closing basis. Now focus on silver spread/badla and move away from gold badla.
MCX, BSE, NSE ARE ALL OPEN TOMORROW
FROM 9:00AM TO 5:00PM FOR THE BUDGET
Daily
view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.4350: Only a break of 71.6250 will trigger another
wave of rise. Demand will be the key on the last day of the month. Sell off
will be there if demand is not there. There will be surprises for the Indian
forex markets tomorrow as well. (For Trading Report, Whatsapp @9311139549)
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
Follow
us on Twitter @insigniaconsul1
PLEASE
NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE
USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
THE
TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
You
can also download our Android App for these updates :
For live Updates You can also join our
For Full Reports
and live trading calls please Call / Whatsapp 9311139549.
For todays
Full report Please paytm using the barcode below:
No comments:
Post a Comment