Mcx Metals Market Report : 28th January 2020

Insignia Consultants

New Delhi

Tuesday, 28 January 2020

TIME 9:21 AM IST                         

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MCX METALS MARKET REPORT
More or less a flat opening in all metals and energies today. Copper January was very volatile yesterday. Traders are preparing for the FOMC meet tomorrow. More and more traders have started ignoring the Chinese corona virus.
Copper as moved into backwardation. This is reflected by the copper spread/badla in MCX. Nickel has moved away from backwardation of last week.

CLOSING MCX SPREAD/BADLA
MCX FUTURE	27-Jan-20	24-Jan-20
Gold April--Gold Feb	120.00	122.00
Silver May-Silver March	552.00	488.00
Crude oil feb-Crudeoil march	16.00	16.00
Copper feb-Copper jan	-4.80	4.75
Zinc Mini feb-Zinc Mini jan	1.25	1.65
Lead Mini Feb--Lead Mini Jan	2.95	1.15
Nickel feb-Nickel jan	2.10	-12.30
NG feb-- NG jan	-0.70	-3.50
Prices of MCX futures are in Indian rupees above)

Spread/badla will be very volatile in MCX this week due to future expiry. Day traders should trade in February futures in all industrial metals.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.3800: Resistance is at 71.5575. Only a break of 71.5575 will result in 71.7850 and 71.9250. Sellers will be there below 71.3300.
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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

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