Mcx Nickel and Natural Gas Report : 31st July 2019

Insignia Consultants

New Delhi

Wednesday, July 31, 2019

TIME 9:05 AM IST                   

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MCX NICKEL AND MCX NATURAL GAS REPORT

The recent consolidation phase in nickel will be broken and a new range will be formed soon. Natural gas is oversold.

Nickel August 2019: (previous day close/CMP Rs.1003.00):

• Nickel can rise to 1040 by Friday as long as it trades over 969-979 zone.
• Crash or short term bearish trend will be there only if nickel trades below 969.

Natural gas 27^th August 19 (previous day close/CMP Rs.148.40):

• Sell off will be there below 144.30 to 138.90.
• NG needs to trade over 150 to rise further.
• Use a buy on dips strategy with a stop loss below 133.10 for 27^th August and a price target of 199.30.

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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