12th January: MCX Metals & Energies Report

Insignia Consultants

New Delhi

Friday, January 12, 2018

TIME 8:36 AM  IST                        

 ————————————————————————————————————————

MCX METALS AND ENERGIES MARKET VIEWS

Gold and silver are bullish. Industrial metals will be very volatile.

TECHNICAL VIEW

Gold February 2018: (previous day close/CMP Rs.29390)

Bullish over 29355 with 29440-29521 and 29714 as price target.

Bearish below 29270 with 29231-29164-29114 and 28994 as price target.

Neutral Zone: 29270-29355

One Support: 29270

One Resistance: 29440

  • Gold needs to trade over 29270-29355 zone to rise to 29521 and 29714.
  • Sell off will be there only below 29270 to 292173 and 29047.

Silver March 2018:  (previous day close/CMP Rs.38939)

Bullish over 39011 with 39261-39433 and 39664 as price target

Bearish below 38632 with 38489 and 38039 as price target.

Neutral Zone: 38632-39011

One Support: 38781

One Resistance: 39136

  • Silver needs to trade over 38557 till Monday to rise to 39785.
  • Immediate support is at 38892. Sellers will be there below 38892.

Copper February 2018:  (previous day close/CMP Rs.456.15)

Bullish over 454.10 with 460.30 and 465.60 as price target.

Bearish below 451.80 with 458.80 and 444.30 as price target.

Neutral Zone: 451.80-454.10

One Support: 454.10

One Resistance: 460.30

  • Copper needs to trade over 454.10 to rise to 460.30 and 465.60.
  • Sellers will be there below 454.10.

Crude oil January 18: (previous day close/CMP Rs.4100.00)

Bullish over 4073 with 4116-4192 and 4258 as price target.

Bearish below 4035 with 3988-3966 and 3912 as price target.

Neutral Zone: 4035-4073

One Support: 4075

One Resistance: 4115

  • Crude oil can rise to 4170 and 4258 as long as it trades over 4050-4075 zone.
  • Sellers will be there below 4050.

Zinc January 2018: (previous day close/CMP Rs.216.65)

Bullish over 215.90 with 217.60-218.20 and 221.30 as price target.

Bearish below 213.20 with 211.70 and 210.10 as price target.

Neutral Zone: 213.20-215.60

One Support: 213.20

One Resistance: 215.90

  • Zinc can rise to 217.20 and 220.80 as long as it trades over 213.20.
  • Sellers will be there below 213.20.

Lead January 2018: (previous day close/CMP Rs.162.70):

Bullish over 165.20 with 167.10 and 169.10 as price target.

Bearish below 163.30 with 161.90 and 160.50 as price target.

Neutral Zone: 163.30-165.20

One Support: 161.90

One Resistance: 164.50

  • Lead needs to trade over 161.90 to rise to 164.40 and 165.90.
  • Sellers will be there below the support of 161.90 today.

Nickel January 2018: (previous day close/CMP Rs.802.80):

Bullish over 800.20 with 814.40 and 834.60 as price target.

Bearish below 794.10 with 782.30 and 769.10 as price target.

One Support: 794.10

One Resistance: 809.80

  • Nickel can rise to 824 as long as it trades over 787-794 zone.
  • Sellers will be there below 787.

Natural gas January 18 (previous day close/CMP Rs.195.40):

Bullish over 188.00 with 200.70 and 209 as price target.

Bearish below 183.10 with 179.90 and 168.70 as price target.

Neutral Zone: 183.10-188.00

One Support: 192.20

One Resistance: 197.80

  • Natural gas needs to trade over 191.10 to rise to 201 and 209.
  • Sellers will be there below 191.10 today.

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 Chintan Karnani

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

NOTES TO THE ABOVE REPORT

UK session starts around 1:00 pm Indian Standard Time (+5:30 GMT)

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.

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

Customer care: 9311139549

You can also mail your queries at insigniaconsultants@gmail.com

Chat Id: telegram/whatsapp 9311139549

(10:30 am to 5:30 pm Indian time, Monday to Friday)

 

 

 

Comments for this post are closed.