MCX NaturalGas & Aluminum Weekly Report: 26th December 2018

Insignia Consultants

New Delhi

Wednesday, December 26, 2018

9:30AM IST

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

MCX NATURAL GAS AND ALUMINUM WEEKLY REPORT

Aluminum 31st December 2018: (previous day close/CMP Rs.131.90):

Support: 122.20-123.50-126.10-128.70-129.90

Resistance: 132.60-133.85-136.20-139.00-141.60

  • Key support is at 131.00.
  • There will be another wave of sell off below 131.00 to 128.20 and 123.50.
  • Aluminum needs to trade over 133.80-135.20 zone this week to be in a bullish zone.
  • Crash will be there only below 128.20.

Natural gas 28th January 19 (previous day close/CMP Rs.245.90):

Support: 201.10-223.20-233.10-241.80

Resistance: 252.40-259.30-265.40-271.50-278.30-291.30

  • 100 day moving average at 244.90 is the immediate support.
  • A fall below 100 day moving average of 244.90 will result in 216.90 (200 day moving average).
  • NG needs to trade over 261.60 this week to be in bullish zone.
  • Overall trend is down as long as NG trades below 261.60.
  • Overall sold. Momentum is very bearish.
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.