4th December: MCX Mid Day Technical Update
Monday, December 04, 2017
TIME: 4:46 pm IST
MCX MID DAY TECHNICAL UPDATE
Gold February 2018: Support: 29135. Resistance: 29305. Gold needs to trade over 29079-29135 zone to rise to 29305 and 2942. Trend is down. But sell off will be there below 29135 only. I prefer to buy gold @28940 stop loss 28760 for tomorrow.
MCX Silver March 2018: Support: 38002. Resistance: 38459. Silver needs to trade over 37950-38050 zone to rise to 38459 and 38912. Sellers will be there below 38002 to 37838 and 37313. I prefer to buy silver @37400 stop loss 36452 for tomorrow.
MCX Copper February 2018: Support: 441.80.Resistance: 447.10 One needs to be very careful as long as copper does not break 449-453 zone. Trading range is 436-447-453.
MCX Crude Oil December 2017: Support: 3704.Resistance 3766. Crude oil can fall to 3686 and 3649 as long as it trades below 3766. Rise will be there only over 3766.
MCX Zinc December 2017: Support: 206.60. Resistance: 209.60. Zinc can rise to 211 and 213.40 as long as it trades over 206-207 zone. Zinc will crash if it trades below 206 in US session after 8:45pm.
MCX Lead December 2017: Support: 163.10 Resistance: 166.00. Lead can rise to 166.00 and 168.10 as long as it trades over 161.00.
MCX Nickel December 2017: Support: 724.40 Resistance: 743.30. Nickel can rise to 749 and 763 as long as it trades over 724.40.
MCX Natural Gas December 2017: Support: 199.40 Resistance: 203.80. Natural gas needs to trade over 199.40 to rise to 205.20 and 209.10. Sellers will be there below 199.40.
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. Prepared by Chintan Karnani
Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.
NOTES TO THE ABOVE REPORT
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
Indian Standard Time (IST): +5:30 GMT