Mcx Report : 23rd August 2019

Insignia Consultants

New Delhi

Friday, August 23, 2019

TIME 8:10AM IST                        

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MCX TECHNICAL REPORT

As long as the rupee weakens against the US dollar, everything will rise or remain firm.

TECHNICAL VIEW

Gold October 2019: (previous day close/CMP Rs.38165)

Small sell off below: 38040

Quick rise over: 38300

  • Gold needs to trade over 38000 to rise to 38300 and 38700.
  • Sell off will be there below 38000.

Silver September 2019:  (previous day close/CMP Rs.43896)

Small sell off below: 43700

Quick rise over: 44060

  1. Silver needs to trade over 43600 to rise to 44300 and 44700.
  2. Sell off will be there below 43600.

Copper August 2019:  (previous day close/CMP Rs.444.90)

Small sell off below: 443.10

Quick rise over: 448.30

  1. Copper needs to trade over 443-444 zone to rise to 449 and 453.
  2. Crash will be there below 443.

Crude oil 19th September 2019: (previous day close/CMP Rs.4016.00)

Small sell off below: 3980

Quick rise over: 4054

  1. Crude oil needs to trade over 3960 till next week to rise to 4154.
  2. Crash will be there only below 3960.

Zinc August 2019: (previous day close/CMP Rs.184.40)

Small sell off below: 183.80

Quick rise over: 185.00

  1. Zinc needs to trade over 181-182 zone to rise to 188 and 191.
  2. Crash will be only if zinc trades below 181.00.

Lead August 2019: (previous day close/CMP Rs.155.05):

Small sell off below: 154.00

Quick rise over: 155.60

  • Lead needs to trade over 153.50 to rise to 157.50 and 160.20.
  • Sellers will be there only below 153.50.

Nickel August 2019: (previous day close/CMP Rs.1117.20):

Small sell off below: 1104.00

Quick rise over: 1140.00

  • Nickel needs to trade over 1104 to rise to 1140 and 1167.
  • Crash will be there below 1100.
  • I am against new buying in nickel at current prices.

Natural gas 27th August 19 (previous day close/CMP Rs.156.20):

Small sell off below: 153.00

Quick rise over: 158.80

  • NG can needs to trade over 153 to be in bullish zone.

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

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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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