Insignia Consultants
New Delhi
Thursday, 23 January 2020
TIME
8:53 AM IST
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MCX
METALS MARKET REPORTGlobal focus is on the impact of Chinese corona virus. Crude oil has had a technical breakdown. Gold and silver are in a neutral zone. Copper and industrial metals if they fall today will sink. Surprises (if any) in European central bank meeting can impact metal prices.
Budget is there on 1st February (Saturday). There will be position squaring and rebuilding in all MCX metals before the Union budget. One needs to trade carefully and invest carefully for the short term till 1st February.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.2050: Rupee can rise to 71.3050 and 71.4750 as long as it trades over 71.0800. Overall trend is up as long as rupee trades over 70.9800.
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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.
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
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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
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