Insignia Consultants
New Delhi
Wednesday, 08 January 2020
TIME
9:29 AM IST
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MCX
METALS MARKET REPORTExcerpts from yesterday’s “MCX metals market report”: Low risk traders do not leave any open positions for next day.
Gold and silver have opened with yet another big gap today. If you had closed your short positions then you are safe. You are busted if you are short in gold and silver. It is better to make less profit instead of a loss by keep zero open positions for next day. Had war with Iran not been there before Japan open, gold and silver would have crashed.
Momentum trading is for intra-day trading. Volatility will rise in all metals and energies. Be a jobber and use the volatility to make maximum profit. Copper, nickel and all industrial metals are firm. Industrial metals will be susceptible to sharp correction if Iran and Middle east tensions rise further.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 72.0325: Rupee should trade with a softer bias against the US dollar. Falling global stock markets and energy induced inflation will result in more short term outflows. If Iran war escalates then key resistance zone of 72.50-72.80 will be breached (by next week). Key intraday support is at 71.8550.
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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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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
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