8th February: MCX Mid Day Technical Update

Insignia Consultants

New Delhi

Thursday, February 08, 2018

TIME: 4:11 pm IST

MCX MID DAY TECHNICAL UPDATE

Momentum is …..

MCX Nickel February 2018: Support: 816.40-820.20 Resistance: 842.30. Nickel needs to trade over 816.40 (till tomorrow) to rise to 872. Trend is down. But quick crash will be there below 816.40.

MCX Natural Gas February 2018: Support: 172.50 Resistance: 183.60. Natural gas needs to trade over 172.50 to rise to 180.10 and 187.80. Sellers will be there below 172.50. NG will crash if it trades below 172.50 after the release of US weekly NG inventories.

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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. 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

 

 

 

 

 

 

 

 

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