Insignia Consultants
New Delhi
Thursday, 06 February 2020
TIME
9:56 AM IST
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MCX
METALS MARKET REPORTSilver March futures will expire at the end of February. One needs to keep a close watch on silver spread/badla. Silver spread/badla has been the most volatile in March future expiry. Silver May-Silver March spread/badla is at 525. It can rise to 730 if silver prices fall. Silver badla will fall to 375 only if silver prices zoom suddenly.
Gold will be very volatile like yesterday. Copper, zinc and lead have risen very sharply from this week’s low. Nickel is steady. Crude oil may have formed a short term bottom this week.
A super duper 291,000 US private ADP jobs number did not result in crashing of gold. Better to trade very carefully in gold for the rest of the month.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.2450: Most of the Asian currencies have weakened yesterday against the US dollar due to negative economic impact from corona virus. There can be sudden knee jerk one way price move. The US dollar Index is above 98.00 after a very long time. Crash till tomorrow will be there only if rupee falls below 71.1025. However if rupee does not fall below 71.1025, then it will rise to 71.5650 and 71.7075.
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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
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NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE
SPECIFIED
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TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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