MCX Metals Market Report: 10th February 2020

Insignia Consultants

New Delhi

Monday, 10 February 2020

TIME 9:10 AM IST                         

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MCX METALS MARKET REPORT

Industrial metals have opened higher. Gold and silver have opened slightly lower. It should be a technical trade today. Chinese workers are returning to work from today. There is no big US economic data release today. Industrial metals will crash if and only if focus is on the impact of Chinese corona virus. If not then industrial metals will rise today.

MCX Lead Mini February 2020: (previous day close/CMP Rs.144.65):

  1. Lead can rise to 146.20 and 147.40 as long as it trades over 143.80.
  2. Crash will be there only if lead trades below 143.80  to 142.40-141.90 and 139.60.
  3. Technical and momentum are both down for MCX lead mini.

Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.3725: Rupee will trade with a softer bias as exit polls suggest that BJP will not come into power in Delhi state elections. 71.1975-71.6025 is the wider trading range till tomorrow. Crash or sell off will be there only if rupee trades below 71.1975.

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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

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