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MCX Report and MCX Trading calls for 18th November 2022

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Insignia Consultants

Friday, November 18, 2022

TIME 9:15 AM IST                                 

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MCX REPORT AND MCX TRADING CALLS

I am not buying gold, silver, and copper at current price. Look for short covering in crude oil. There are no major US economic data releases today and Monday. It will be a technical trade till Monday.

Buy or Sell –  very high risk call

  1. Sell gold December at 53368 stop loss 53568 for 52318.
  2. One can also sell gold December if it trades below 52750 after 2:30 pm stop loss 52823 for 52580 and 52318.
  3. Buy silver December at 59811 stop loss 59436 for 62760.
  4. Risk takers can sell silver December if it trades below 60700 after 3:00 pm stop loss 60860 for 60430 and 60086.

Gold December 2022:(CMP Rs.52845.00)

  1. Gold needs to trade over 52650-52700 zone to rise to 53105 and 53368.
  2. Gold will crash if it trades below 52650.
  3. Gold will crash to 5220 and 51700 (by next week) in case it does not break and trade over 53368.

Silver December 2022: (CMP Rs.61321.00)

  1. Silver has to trade over 60400-60600 zone to rise to 62144 and 62760.
  2. Silver will crash only if it trades below 60400 after 3:00 pm and 11:55 pm close.
  3. There will be very sharp two way price moves in silver. Trade very carefully.

 

INSIGNIA CONSULTANTS

MCX DAILY TECHNICAL LEVELS

18 November 2022

9:15:00 AM

 

Gold Dec

Silver Dec

Copper  Nov

Crude Oil 19/12/22

NG Nov

CMP

? 52,845

? 61,321

? 681.70

? 6,745.00

? 516.90

S5

? 52,320

? 58,988

? 666.70

? 6,333

? 470.60

S4

? 52,446

? 59,548

? 670.30

? 6,432

? 481.71

S3

? 52,583

? 60,155

? 674.20

? 6,539

? 493.75

S2

? 52,644

? 60,430

? 675.97

? 6,588

? 499.21

S1

? 52,721

? 60,770

? 678.16

? 6,648

? 505.97

 

 

 

 

 

 

R1

? 52,969

? 61,872

? 685.24

? 6,842

? 527.83

R2

? 53,046

? 62,212

? 687.43

? 6,902

? 534.59

R3

? 53,108

? 62,488

? 689.20

? 6,951

? 540.05

R4

? 53,244

? 63,094

? 693.10

? 7,058

? 552.09

R5

? 53,370

? 63,654

? 696.70

? 7,157

? 563.20

 

 

 

 

 

 

Breakout Level

? 52,976

? 61,904

? 685.45

? 6,848

? 528.48

Breakdown level

? 52,714

? 60,738

? 677.95

? 6,642

? 505.33

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

 

Crude oil 19th December 2022: (CMP Rs.6745.00)

  1. Crude oil needs to trade over 6737 to be in an intraday bullish zone and rise to 6926 and 7132.
  2. Trend is down but there will be another wave of sell off only if crude oil trades below 6636 till next week.
  3. Watch 6737 all the time. Crude oil can move 200 either side from 6737.

Natural Gas 25th November: (CMP Rs.516.90)   

View: Ng has to trade over 509.60 to be in an intraday bullish zone and rise to 530.00 and 550.00. Crash or sell off only if Ng trades below 509.60.

 

Copper November 2022: (CMP Rs.681.70)

  1. Key price to watch: 673.40 if price crashes.
  2. Copper will crash if it trades below 678.80 between 2:30 pm and 11:55 pm close to 673.40 and 666.00.
  3. Copper needs to trade over 683.50 till 29th November to be in a short term bullish zone.

Zinc November 2022: (CMP Rs.269.70)

  1. Key price to watch: 269.30
  2. Zinc needs to trade over 269.30 to be in an intraday bullish zone and rise to 275.60 and 279.60.
  3. Zinc will crash if it trades below 268.50-269.00 zone today.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific c3urrencies, 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.

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

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