MCX Weekly Lead Report: 29th October 2018

Insignia Consultants

New Delhi

Monday, October 29, 2018

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MCX WEEKLY LEAD REPORT

Change in Jewlery trend in India

Film stars and celebrities define the fashion trend in India and globally. Whenever I look at a celebrity photo on the internet the first thing that I look is the jewelery worn and its design. This helps me the get a hint of the jewelery trend. Right now I am seeing more and more celebrities wearing silver earning with traditional jhumka design and 1960’s retro style. This trend will continue for some time. Silver jewelery demand will be on rise till next Diwali. Gold jewelry worn by celebrities, it seems if more futuristic. Very few celebrities wear a gold chain (with or without a diamond pendent). Only a futuristic style gold bangle in a single hand is there. Gold rings are getting very popular with passing of each year. The Islamic influence on gold and silver jewelery designs is also rising every quickly.

Lead 30th November 2018: (previous day close/CMP Rs.146.80):

Support: 137.70-139.80-142.10-143.70-144.60

Resistance: 148.20-149.90-151.40-154.60-157.60

  • Key price to watch this week is at 147.00
  • Lead needs to trade over 143.70 this week to rise to 151.40 and 157.60.
  • Crash or another wave of sell off will be there below 143.70.
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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