Mcx Metal Market Report: 17th December 2019

Insignia Consultants

New Delhi

Tuesday, 17 December 2019

TIME 8:40 AM IST                         

 ----------------------------------------------------------------------------------------------------------------

MCX METALS MARKET REPORT

Big two days ahead for crude oil. Crude oil needs to trade over current prices to rise another three percent anytime. Natural gas will see short covering if it rises till Thursday. Copper and nickel are on the verge of a technical breakout. Economic news will affect all metals and energies. It should be a fundamental trade till the first week of January.

CLOSING MCX SPREAD/BADLA
16-Dec-19
MCX FUTURE	Rs.
Gold April--Gold Feb	81.00
Silver May-Silver March	438.00
Crude oil Jan-Crudeoil Dec	-4.00
Copper Jan-Copper Dec	5.05
Zinc jan-Zinc Dec	-2.00
Lead jan--Lead dec	-0.55
Nickel jan-Nickel dec	-3.00
NG jan-- NG dec	-0.80
Prices of MCX futures are in Indian rupees above)

I expect Nickel spread to rise as the week progresses. Copper spreads are stable. Copper spreads will rise only if prices fall from here. Natural gas (NG) spreads should also rise before December future close and move into positive territory. Gold and silver badla will be dependent on short term trend.

Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 70.9150: Usd/inr needs to trade over 70.7650 to rise to 71.1950 and 71.3750. Sell off today will be there below 70.7650. Range bound trade can be there today.
(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 :

Insignia Tips Android App (https://play.google.com/store/apps/details?id=com.insignia&hl=en)

For live Updates You can also join our

TELEGRAM CHANNEL (https://t.me/goldsilverinr)

For Full Reports and live trading calls please Call / Whatsapp 9311139549.

 or mail to insigniacommodity@gmail.com

For todays Full report Please paytm using the barcode below: