MCX Base Metals Report: 18th July 2019

Insignia Consultants

New Delhi

Thursday, July 18, 2019

TIME 9:03AM IST                        

 ------------------------------------------------------------------------------------------------------------------------

MCX BASE METALS REPORT

Nickel look very bullish. Copper and lead will break free from the recent consolidation phase and form a new range. Zinc seems to form a good lower base to start another rise. However trend after  Monday (Option expiry) is the key for copper and zinc.

Copper July 2019:  (previous day close/CMP Rs.445.80)

  1. Copper needs to trade over 444.90 to rise to 448.10 and 450.40.
  2. Key support till tomorrow is at 443.00.

Zinc July 2019: (previous day close/CMP Rs.195.25)

  1. Zinc needs to trade over 193.00-193.5 zone to rise to 197.10 and 199.00.
  2. Crash will be there if zinc trades below 193.50 today.

Lead July 2019: (previous day close/CMP Rs.155.35):

  • Lead needs to fall below 154.10 or break and trade over 157.50 for direction.
  • Sell off will be there only if lead trades below 154.10.

Nickel July 2019: (previous day close/CMP Rs.1020.60):

  • Nickel can rise to 1047 and 1108 as long as it trades over 984-990 zone.
  • Trend is very bullish as long as nickel trades over 969 for the rest of the month.

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

"Print this report only if absolutely necessary. Save Paper. Save Trees."

We have no branch

We do not have any marketing agents in any city in India

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.

ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED

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

You can also mail your queries at insigniacommodity@gmail.com

Chat Id: telegram/whatsapp 9311139549