Copper Report (MCX, CME and LME) for 11th January 2022

Insignia Consultants

New Delhi

Tuesday, January 11, 2022

 TIME 1:40 PM IST                                 

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COPPER REPORT

Nickel and aluminum are bullish. There will be a technical breakout if nickel and aluminum rise today and till Thursday. Copper will remain firm (overall) as base metals prices, in general, remain firm. I expect sharp two-way price moves in base metals after 6:00pm Indian Time and till Thursday close.

LME Copper Spot: (CMP $9634.50)

  1. Daily Support: $9456.00, $9552.00 and $9603.00
  2. Daily Resistances: $9744.00 and $9840.00
  3. Copper has to trade over $9552.00 to rise to $9840.50 and $9959.00.
  4. There will be selloff only if copper trades below $9552 between 8:00pm Indian time and 11:00pm Indian Time.

LME Nickel Spot: (CMP $21406.50)

  1. Daily Support: $20706 and $21084
  2. Daily Resistances: $21669, $21928.00 and $22167
  3. Nickel can rise to $22216.50 today as long as it trades over $21170-$21280 zone.

Comex Copper March 2022: (CMP $439.27)

  1. Daily Support: $431.70
  2. Daily Resistances: $443.10
  3. TODAYS VIEW: Copper has to trade over $435.10 to rise to $451.10.
  4. Copper will crash only if it trades below $435.10 between 8:00pm Indian time and 11:00pm Indian Time.

MCX Copper 31st January 2022:  (CMP Rs.737.25)

  1. Daily Support: Rs.728.60 and Rs.733.40
  2. Daily Resistances: Rs.746.90
  3. TODAY’S VIEW: Copper has to trade over Rs.733.40 to rise to Rs.746.90 and Rs.751.80.
  4. Copper will crash if it does trades below Rs.733.40 between 2:45pm Indian Time and days close at 11:55pm Indian Time.

MCX Nickel 31st January 2022: (CMP Rs.1593.70):

  1. Daily Support: Rs.1542.00 and Rs.1568.00
  2. Daily Resistances: Rs.1608.90 and Rs.1629.10
  3. Nickel has to trade over Rs.1608.90 intraday resistance to continue its bullish trend and target Rs.1649.60.
  4. Momentum is very bullish for Nickel.

MCX Aluminum 31st January 2022: (CMP Rs.232.60):

Daily Support/Resistance: Rs.229.30 & Rs.235.80

  • Aluminum has to trade over Rs.229.30 today to rise to 239.50.

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. Website www.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 SPECIFIED

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

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