Aluminum Weekly Report: 3rd December 2018

Insignia Consultants

New Delhi

Monday, December 3, 2018

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WEEKLY ALUMINUM REPORT

Direction of the rupee against the US dollar will be key for all metals and energies price moves in MCX.

Aluminum 31st December 2018: (previous day close/CMP Rs.137.20):

Support: 129.00-130.30-131.90-133.30-134.90-136.30

Resistance: 139.20-140.50-142.10-144.30-149.70

  • 100 week moving average around 136.10 is the key long term support.
  • 100 day moving average at 144.50 is the key resistance.
  • Aluminum needs to trade over 133.10 this week to rise to 142.20 and 144.70.
  • Small sell off will be there only below 136.10.
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
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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
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