Mcx Metal Market Report: 11th December 2019

Insignia Consultants

New Delhi

Wednesday, 11 December 2019

TIME 8:56 AM IST                         

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MCX METALS MARKET REPORT

Closing price of the previous day does not reflect the real picture. Take the case of MCX Nickel December. Yesterday’s MCX Nickelm December high-low was at 998-961 with 991.50 as closing price. So please do not invest or trade by looking at previous days performance or past week performance. I know most of the traders are very short term traders and day traders. That is why I am writing this.

MCX DAILY PEFORMANCE
	Closing Price
MCX FUTURE	9-Dec-19	6-Dec-19	%gain/loss
Gold February 2020	37,571.00	37,583.00	-0.03
Silver March 2020	43,507.00	43,502.00	0.01
Crude oil Dec 2019	4,195.00	4,197.00	-0.05
Natural Gas Dec 2019	160.80	157.00	2.42
Copper Dec 2019	439.15	439.50	-0.08
Zinc Dec 2019	181.60	182.70	-0.60
Lead Dec 2019	153.25	152.65	0.39
Nickel Dec 2019	991.50	979.60	1.21
Prices of MCX futures are in Indian rupees above)

Watch the trend of the rupee. Yesterday gains in the rupee against the US dollar prevented rise for all MCX metals and energies. There are lot of event risk till Friday. Anything can happen. Trade carefully. Trend of crude oil after the release of US weekly crude oil inventories at 9:00pm will be the key. Day traders and jobbers remain on the sidelines in all metals. Copper December if it rises today and till Monday will zoom to 452 and 464. 
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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.

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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