MCX Lead Report: 26th November 2019

Insignia Consultants

New Delhi

Tuesday, 26 November 2019

TIME 8:50 AM IST                         

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MCX LEAD REPORT

Current price Rs.152.70 (MCX Lead December)

Bearish case: Trend is down but crash or sell off will be there only below 148.20 till 31st December to 142.60 and 136.10.

Bullish case: Assuming some undershooting from key technical support of 148.20, lead can rise to 169.70 before the year end if it does not fall below 146.

Trading strategy: (1) Today, lead will crash if it trades below 152.00 to 151.10 and 149.70. (2) Lead needs to trade over 153.50 to be in intraday bullish zone.

I am against new short term investment in lead at the moment. Lack of short term volatility and lack of intraday volatility is the key reason for me advising against short term investing in lead futures. Volumes in MCX in lead futures has been way below long term averages this year.

 

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. Websitewww.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

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