4th July: MCX futures report

Insignia Consultants

Monday, July 04, 2016

TIME: 09:30 am IST             

Whatsapp/Telegram app 9811139549

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MCX DAILY REPORT                                              

US markets are closed today. Technically all metals and energies are bullish. Look for signs of trend reversal.

 

 

MCX METALS AND ENERGY DAILY TECHNICAL ANALYSIS

COMMODITY

PIVOT

SUPPORT

RESISTANCE

 

key price

S4

S3

S2

S1

R1

R2

R3

R4

METALS

GOLD - AUGUST 16

31607

30998

31159

31319

31436

31696

31768

31928

32072

SILVER -- SEPTEMBER 16

48007

44491

45641

46454

47456

48007

48671

49307

52013

COPPER -- JUNE 16

333

320.90

323.90

327.60

330.10

337.60

342.60

347.70

352.20

ZINC -- JULY 16

147.6

135.80

139.00

141.10

142.70

147.60

149.70

151.30

153.70

LEAD -- JULY 16

128.6

117.60

119.30

121.10

122.30

127.60

129.70

131.20

132.90

NICKEL -- JULY 16

687

621.00

636.00

644.00

657.00

687.00

707.00

721.00

740.00

ENERGIES

CRUDE OIL  20TH July

3279

3114

3169

3193

3233

3317

3348

3396

3473

NATURAL  GAS July 16

203.2

183.80

186.70

191.10

195.00

205.10

208.60

211.10

227.00

All prices are in Indian Rupees Above

 

 

TECHNICAL VIEW

Gold August, 2016: (previous day close/CMP Rs.31463)

Bullish over 31275 with 31768 and 32191 as price target.

Bearish below 31010 with 30912 and 30656 as price target.

Neutral Zone: 31010-31275

·  Key resistance is at 31839. Only a break of 31839 will trigger another wave of rise to 32191 and 32416.

·  Initial support is at 31436. There will be sellers only below 31436 or in case gold does not break 31839 today.

·  A daily close over 31768 today will be hyper bullish for the rest of the week.

Silver September, 16:  (previous day close/CMP Rs.46403)

Bullish over 46300 with 49175 and 53080

Bearish below 45700 with 45100 and 44110 as price target.

Neutral Zone: 45700-46300

·  Silver can rise to 49307 and 53370 as long as it trades over 46454.

·  Initial support is at 47456. There will be sellers only below 47456 or in case silver does not trade over 48007 today.

Copper August, 16: (previous day close/CMP Rs.333.15)

Bullish over 333.00 with 337.10 and 347.60 as price target.

Bearish below 329.90 with 325.60 and 321.10 as price target.

Neutral Zone: 329.90 and 333.00

·  Copper can rise to 342.60 and 348.10 as long as it trades over 327-330 zone

·  Today there will be another wave of rise only if copper trades over 335 today.

Crude oil July 16: (previous day close/CMP Rs.3271)

Bullish over 3233 with 3374 and 3476 as price target.

Bearish below 3190 with 3108 and 2977 as price target.

Neutral Zone: 3190-3233

·  Crude oil needs to trade over 3230 to rise to 3374 and 3435

·  Technically crude oil is in a neutral zone.

·  There will be sellers only below 3230 today.

Zinc July, 16: (previous day close/CMP Rs.144.35).

Bullish over 139.00 with 147.60 and 151.20 as price target.

Bearish below 136.00 with 134.30 and 132.30 as price target.

Neutral Zone: 136-139

·  Zinc targets 151.0 and 153.70 this week as long as it trades over 139

·  Initial support is at 139.60 with 135.50 as the key support.

Lead July, 16: (previous day close/CMP Rs.125.00):

Bullish over 122.70 with 128.80 and 131.10 as price target.

Bearish below 119.70 with 116.90 and 115.90 as price target.

Neutral Zone: 119.70 and 122.70

·  Key resistance is at 128.90. A break of 128.90 will result in 135.10 and 142.80

·  Initial support is at 122.70.

Nickel July, 16: (previous day close/CMP Rs.671.10): Key resistance is at 706. A break of 706 will trigger sell stop losses and a quick rise to 757 and 804. Initial support is at 657. There will be sellers only below 657.

Natural gas July 16 (previous day close/CMP Rs.199.20): Natural gas targets 207 and 232 in short term as long as it trades over 189.

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. Website www.insigniaconsultants.in. Prepared by Manan Somani

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

NOTES TO THE ABOVE REPORT

UK session starts around 1:30 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 6pm pm Indian Standard Time (+5:30 GMT)

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

PLEASE USE A STOP LOSS OF MINIMUM RS.5000-RS.8000 PER LOT ON ALL INTRA DAY TRADES

ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED

APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORT

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

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