Copper Report (MCX, CME and LME) for 14th January 2022

Insignia Consultants

New Delhi

Friday, January 14, 2022

 TIME 12:45 PM IST                               

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COPPER REPORT

Comex future traders will start taking positions for Tuesday. Momentum is very bullish. There will be another very big rise in base metals if Nickel continues to after LME opens and in USA session.

One should wait till 3:30pm Indian Time and then decide on physical buying/selling strategy. Use trailing stop loss or hedge in case you have a buy or sell.

LME Copper Spot: (CMP $9932.00)

  1. Daily Support: $9689.00 and $9823.00
  2. Daily Resistances: $10063.50, $10197.00 and $10451.00
  3. Copper has to trade over $9823.00 to rise to $10197.00 and $10541.00.
  4. There will be a sell off only if copper trades below $9823.00.
  5. Copper will rise very quickly if it trades over $10025-$10110 zone anytime till next week.

LME Nickel Spot: (CMP $22520.00)

  1. Daily Support: $21978.00 and $22296.00
  2. Daily Resistances: $22659 and $22903
  3. Nickel has to trade over $22100-$22200 zone today to rise to $23121.
  4. Momentum is very bullish for nickel.

Comex Copper March 2022: (CMP $452.75)

  1. Daily Support: $442.80, and $448.20
  2. Daily Resistances: $460.10, and $469.20
  3. TODAYS VIEW: Copper has to trade over $446.00-$448.00 to rise to $466.30 and $478.10.
  4. Copper will crash if $462.00 is not broken today and Monday.

 

MCX Copper 31st January 2022:  (CMP Rs.753.80)

  1. Daily Support: Rs.746.10
  2. Daily Resistances: Rs.758.40, Rs.761.80 and Rs.767.20
  3. TODAY’S VIEW: Copper has to trade over Rs.746.00-Rs.750.00 zone till next week to rise to Rs.762.80 and Rs.771.20.
  4. Copper will crash if it does not break Rs.760.80 today.

MCX Nickel 31st January 2022: (CMP Rs.1634.60):

  1. Daily Support: Rs.1597.30 and Rs.1606.80
  2. Daily Resistances: Rs.1656.60 and Rs.1687.30
  3. Nickel has to trade over Rs.1606.80 today to rise to Rs.1677.80 and Rs.1718.10.
  4. Momentum is very bullish for Nickel.
  5. Nickel will crash only if it trades below Rs.1606.80 after LME opens.
  6. There will be a short covering rally if nickel trades over Rs.1656.60 anytime till Monday.

MCX Aluminum 31st January 2022: (CMP Rs.233.05):

Daily Support/Resistance: Rs.229.10 & Rs.236.60

  1. Aluminum has to trade over Rs.231.30 today to rise to Rs.237.60 and Rs.241.90.

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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