Insignia Consultants
New Delhi
Friday, 06 March 2020
TIME
9:48 AM IST
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MCX
METALS MARKET REPORT - Saabhi ko Holi ki Raam RaamCrude oil and natural gas opened at lower circuit. Gold opened higher and thereafter crashed. Industrial metals opened lower but did not crash. Corona virus fears is driving investors and traders all towards safe havens.
Volatility will be very high. One needs to trade very carefully. Tomorrow is “holi”. Trading volumes in MCX will reduce in the evening. There can be abrupt one way move price in all MCX metals and all MCX energies.
MCX will close at 11:30pm from today.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 73.9475: As long as rupee does not break and trade over 74.7575 (for the rest of March) it can fall to 72.5050 and 71.2525. Immediate resistance is at 74.2750.
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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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