Mcx Daily Report - 16 Nov 2017

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report - 16 NOV 2017 News High lights Gold Prices Gain In Asia As Investors Stake Positions On Inflation Views. Gold prices edged higher in Asia on Thursday with the ongoing debate about inflation prospects in the year ahead driving sentiment. Overnight, gold prices fell on Wednesday after the dollar moved off intraday lows on signs that fourth quarter economic growth remained solid, cementing investor expectations that the Federal Reserve will raised rates for the third time this year in December. A duo of reports on retail sales and inflation lifted the dollar off lows, pressuring gold prices to retreat from highs as the precious metal remained on track to post a loss for the first time this week. The uptick retail sales suggested that consumption growth in the fourth quarter remained solid, further strengthening the narrative of an improving US economy. That cemented expectations for a year-end rate hike as investing.com’s fed rate monitor tool showed 100% of traders expect the Federal Reserve to raise rates in December. Poland Copper: Cathode Copper Output to Reduce by 35,000 Tonnes. Poland Copper said on Wednesday, the company lowers capital investment to 510 million złoty with previous estimation of 1020 million, mainly because better operation of its foreign assets. The company says the cathode copper output from self-owned cathode copper will reduce by 35,000 tonnes compared with previously planned 401,000 tonnes due to accident of its subordinate smelting plant. 【 【Blockbuster】 】 China Hongqiao Considering to Transfer Aluminium Plants Abroad. Zhang Bo, CEO of China HOngqiao Group says, because of China’s supply-side reform, the company has closed all aluminium plants required by local governments. It is also considering to remove its closed smelting plants to other countries foe restarting. Currently speaking, Indonesia is the first chioce. Crude Oil Prices rebound Slightly In Asia With Venezuela Debt In Focus. Crude oil prices edged up in Asia on Thursday as investors saw a recent sell-off overdone and continued to monitor declining production from OPEC member Venezuela as it reels from a debt and inflation crisis.Eurasia Group said that a default by Venezuela and its state-owned oil company remains highly likely. "Predicting the precise timing of a default is difficult, as the government seems prepared to keep paying while it can," Eurasia Group said in a report. "But if talks falter and it becomes apparent that it doesn’t have options, the government’s calculations may end up being shaped by electoral timing. (President Nicholas) Maduro is considering moving up the presidential election (due by end-2018) to March of next year, and the debt service profile is relatively light before then (the government owes a total of $1 billion in the first quarter between PDVSA and the sovereign) with bulkier payments due in April, August, and October." Overnight, crude oil settled lower for the third day amid ongoing concerns over rising US output and build in crude stockpiles for the second week in row. Inventories of U.S. crude rose by roughly 1.9 million barrels for the week ended Nov. 11, missing expectations of a draw of 2.2 barrels.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report - 16 NOV 2017 Precious Metals CS GOLD (DEC) OVERVIEW: TREND : SIDEWAYS RESIST 2: 29750 RESIST 1: 29650 SUP 1: 29350 SUP 2: 29250 TREND : BEARISH RESIST 2: 449.00 RESIST 1: 447.00 SUP 1: 438.00 SUP 2: 436.00 TREND : BEARISH RESIST 2: 778.00 RESIST 1: 773.00 SUP 1: 750.00 SUP 2: 745.00 TREND : BEARISH RESIST 2: 212.00 RESIST 1: 210.00 SUP 1: 205.00 SUP 2: 203.00 TREND : BEARISH RESIST 2: 163.00 RESIST 1: 161.00 SUP 1: 156.00 SUP 2: 154.00 CS ALUMINIUM (NOV) OVERVIEW: TREND : SIDEWAYS RESIST 2: 140.00 RESIST 1: 139.00 SUP 1: 136.00 SUP 2: 135.00 WWW.CAPITALSTARS.COM +917316690000 Energies CS CRUDE OIL (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 209.00 RESIST 1: 206.00 SUP 1: 199.00 SUP 2: 196.00

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4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report - 16 NOV 2017 Pick for the Day MCX Crude Oil Nov on Wednesday as seen in the daily chart opened at 3611 levels and day high of 3635 levels. During this period price corrected & made day low of 3587 levels finally closed at 3621 levels. Now, there are chances of further Downside movement technically & fundamentally. . ∑ U.S. crude oil production hit a record of 9.65 million barrels per day (bpd), meaning output has risen by almost 15 percent since their most recent low in mid- 2016.Despite this, analysts said prices were relatively well supported, largely due to efforts led by the Organization of the Petroleum Exporting Countries (OPEC) to withhold oil production in order to tighten the market and prop up prices. ∑ The deal is due to expire in March 2018, but OPEC will meet on Nov. 30 to discuss policy, and it is expected to agree an extension of the cuts. "OPEC, led by Saudi ... will look to support the market, especially until the sale of Aramco is complete. If sanctions against Iran are executed, it will drive the price significantly higher," said Shane Chanel, equities and derivatives adviser at ASR Wealth Advisers in Sydney. DAILY RECOMMENDATION: Sell MCX CRUDE OIL NOV AROUND 3630 LEVELS FOR TARGET OF T1 3580/ T2 3550 WITH SL 3710 OF LEVELS.

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