Mcx daily report - 3 Oct 2017

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report - 03 OCT 2017 News High lights Gold Prices Dip In Asia On Stronger Dollar And Weak China Demand. Gold prices dipped in Asia as overnight dollar gains extended into the region, making the greenback-denominated commodity more expensive and with demand weak as China markets are shut for a week-long holiday. Overnight, gold prices fell to seven week lows amid a dip in safe-haven demand after manufacturing data topped expectations pushing yields and the dollar to session highs. Gold futures made a weak start to the month added to losses from the previous week as investors continued unwind their bullish bets on gold after upbeat manufacturing data pointed to underlying strength in the U.S. economy. The drop in gold prices comes against the backdrop of a dip in bullish bets on the yellow metal as investors ditch the safe-haven trade amid renewed tax reform hopes and a year-end rate hike despite an uptick in Eurozone geopolitical uncertainty. “ investors are continuing to ignore geopolitical risks, as their insatiable appetite for risk continues,” said Fawad Razaqzada, technical analyst at Forex.com. “Dollar-denominated and safe haven gold has consequently fallen out of favor.” Zhejiang’s Zhoushan Imports Zinc Ore for the First Time. Zhejiang’s Zhoushan imported its first shipload of zinc ore recently. These goods weigh 15,000 tonnes, and are worth $3.20 million. Zinc Inventory in China Three Major Markets to Grow after China National Day Holiday, SMM Says. Huangdao Port Sends back Imported Scrap Copper, for Radioactivity Exceeding 26.4 Times. News from Huangdao Inspection and Quarantine Bureau, a batch of scrap copper from Columbia was detected as exceeding 26.4 times for radioactivity, which was tuned over to customs for return. It is reported that the weight of the cargo is 24,880 kilos, which values $118,766.87. This is another case of radioactivity excess of scrap copper at Huangdao port since last batch of goods from UAE. Oil prices fall for second day on oversupply concerns. Oil prices fell on Tuesday, declining for a second day and sapping more strength from a third-quarter rally, amid signs that a global glut in crude may not be clearing as quickly as some had hoped."The fourth quarter is not too kind to the price of oil, as we switch from summer demand to expectations of winter demand," said Jonathan Barratt, chief investment officer at Ayers Alliance in Sydney. "A lot of (refinery) maintenance occurs at this time so feeder demand is not there." Iraq said on Monday that exports rose slightly in September from its southern oilfields, while an earlier Reuters survey indicated that the Organization of the Petroleum Exporting Countries (OPEC) overall boosted output. Oil prices climbed last week on tension in Iraqi Kurdistan after the region's independence vote, with Turkey threatening to close a pipeline that brings oil from the region in northern Iraq to the Mediterranean. Turkey has not carried out the threat, analysts said.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report -03 OCT 2017 Precious Metals TREND : BEARISH RESIST 2: 29800 RESIST 1: 29600 SUP 1: 29250 SUP 2: 29050 TREND : SIDEWAYS RESIST 2: 433.00 RESIST 1: 430.00 RESIST 2: 708.00 RESIST 1: 703.00 CS ZINC (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 217.00 RESIST 1: 215.00 CS LEAD (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 172.00 RESIST 1: 170.00 CS ALUMINIUM (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 141.00 RESIST 1: 140.00 SUP1: 136.00 SUP2: 135.00 WWW.CAPITALSTARS.COM +917316690000 Energies CS CRUDE OIL (OCT) OVERVIEW: TREND : BEARISH CS NATURAL GAS (OCT) OVERVIEW: RESIST 2: 200.00 RESIST 1: 197.00

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4. CapitalStars Financial Research Pvt., Ltd., 3 SEBI Registration Number: INA000001647 MCX Daily Report - 03 OCT 2017 Pick for the Day MCX Crude Oil Oct on Friday as seen in the daily chart opened at 3400 levels and day high of 3400 levels. During this period price corrected & made day low of 3356 levels finally closed at 3373 levels. Now, there are chances of further downside movement technically & fundamentally. ∑ Sentiment on oil prices soured as data showed a dip in Opec’s September compliance with the global pact to curb output, fuelling fresh doubts over the oil- cartel’s commitment to rein in output. ∑ A recent Reuters poll revealed that output among the Organization of the Petroleum Exporting Countries rose by 50,000 barrels a day in September as the cartel’s overall compliance with its production-cut agreement fell to 86%. The dip in compliance comes after both Nigeria and Libya – two countries exempt from the production-cut agreement –ramped up output. DAILY RECOMMENDATION: Sell MCX CRUDE OIL OCT AROUND 3370 LEVELS FOR TARGET OF T1 3320/T2 3300 WITH SL 3450 OF LEVELS.

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