Insignia Consultants
New Delhi
Thursday, 20 February 2020
TIME
9:47 AM IST
----------------------------------------------------------------------------------------------------------------
MCX
METALS MARKET REPORTA weaker rupee resulted in gold and silver opening very high. Rest of the metals and energies in MCX are firm. Tomorrow MCX will open at 5:00pm. Low risk traders should not leave any open positions for tomorrow. Copper and Nickel can see three percent one way anytime. I am not bullish on industrial metals. But better to trade with the flow and trade with momentum till tomorrow.
Additional withdrawn in gold and crude oil: Sr. No. Commodity Contracts Withdrawal of additional margin of 2% with effect from 1. Gold (all variants) March 5, 2020 2. Crude Oil April 1, 2020.
Natural gas 25th February 2020 (previous day close/CMP Rs.141.00):
1. NG needs to trade over 136.00 till tomorrow
to rise to 147.50 and 153.90.
2. Sellers will be there below 136.00 today.
Daily
view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.7450: Resistance is at 71.8550. Only a break of
71.8550 will result in 71.9550 and 72.1375. Sellers today will be there below
71.6325. Rupee can gain after London opens today. I do not think the current
weakness will be sustainable. Those having payable on Monday have to decide
today. Those having payables next week use trailing stop loss over 72.1375 if
they can. (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
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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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