Insignia Consultants
New Delhi
Tuesday, 04 February 2020
TIME
9:37 AM IST
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MCX
METALS MARKET REPORTAppreciation of the rupee against the US dollar will prevent a big gains for all metals and energies in MCX. Chinese are intervening in metals, energies and the price of Chinese Yuan as well. Long term bulls are investing in industrial metals. Short term bears are still on the look out to go short in industrial metals. Copper, nickel, zinc and lead all will be very volatile.
Lots of market moving US economic data releases are there till Friday. One needs to trade very carefully. Crude oil and natural gas and copper are oversold.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.2150: 100 day moving average at 71.2000 is the key support. Sell off will be there below 71.2000 to 70.9850 and 70.6050. Rupee needs to trade over 71.3950 today to rise further.
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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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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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