Insignia Consultants
New Delhi
Friday, 07 February 2020
TIME
9:05 AM IST
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MCX
METALS MARKET REPORTCrude oil will be very volatile. Crude oil is still the best for day traders and jobbers. Gold can consolidate first followed by sudden knee jerk one way price moves. Weekend position squaring and rebuilding will be there after the release of US January nonfarm payrolls.
Silver badla/spread is stable. Gold June-Gold April spread/badla closed at 187. This is just the starting for gold June-gold April spread/badla. Badla/spread will be very volatile in gold and silver till Tuesday. Spread trading or badla trading if understood gives good returns with minimum risk. I expect gold badla to fall to 145 first and then rise to 225.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.2600: Global factors is keeping both buyers and sellers on the edge. RBI meeting was a positive suggesting inflows will not be an issue in the coming months. 71.10-71.40 wider trading range will be formed. Crash today will be there if rupee trades below 71.1750 after London opens.
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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
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE
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TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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