Insignia Consultants
New Delhi
Tuesday, August 13, 2019
TIME 10:05AM
IST
------------------------------------------------------------------------------------------------------------------------
MCX BASE METALS
REPORT
Iron ore prices have been falling. Nickel is firm on long
term demand outlook. Chinese increased buying of copper concentrate has
prevented prices from falling.
I am against leaving any open positions in all industrial
metals for next day. Thursday MCX is closed Full day due to Independence day.
Copper
August 2019: (previous day close/CMP Rs.444.05)
- Copper can rise to 450.50 as long as it trades
over 441-452 zone.
- Remain on the sidelines today.
Zinc
August 2019: (previous day close/CMP Rs.184.15)
- Zinc can rise to 187.10
AND 190.40 as long as it trades over 182.50-183.00 zone.
- Crash will be there
only below 182.50.
Lead
August 2019: (previous day close/CMP Rs.153.50):
o
Lead needs to trade over 153 to rise to 157.50 and 160.50.
o
Crash or sell off will be there only below 153.00.
Nickel
August 2019: (previous day close/CMP Rs.1120.50):
- Nickel needs to trade
over 1100 to rise to 1150 and 1170.
- Crash will be there
below 1100.
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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necessary. Save Paper. Save Trees."
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NOTES TO THE ABOVE
REPORT
ALL VIEWS ARE INTRADAY
UNLESS OTHERWISE SPECIFIED
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY
CLOSING BASISPLEASE 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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