MCX Daily Report - 7 Nov 2017

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report - 07 NOV 2017 News High lights Gold Prices Dip In Asia As Dollar Gains, Middle East Risks Eyed. Gold prices dipped in Asia on Tuesday as investors continued to eye political risk in the Middle East but shied away from new buying as the dollar rebounded regionally. Overnight, gold prices traded sharply higher on Monday as political uncertainty in the Middle East fuelled safe-haven demand. Gold prices made a strong start to the week as investors piled into the precious metal amid growing political uncertainty in the Middle East after Saudi Crown Prince Mohammed bin Salman led an anti-corruption drive which resulted in a series of arrests of prominent Saudi Arabians. A retreat in the dollar, meanwhile, also underpinned a move higher in gold prices as investor concerns grew over the leadership of the Federal Reserve after the Federal Reserve Bank of New York confirmed that William Dudley was preparing to retire earlier than planned. Despite data showing market participants increased their bullish bets on the precious metal last week, traders expected gold prices to remain range bound with biased toward the downside. Views of Investment Bank: Nickel Price to Keep High in Recent Months. Goldman recently raises price of future nickel in three months from $9,000 to 12,500 per tonne. It also says since the demand surge of electric cars industry will appear after 2020, nickel price is more likely to get short-term support from China’s air pollution control. The bank released a report, saying because of favorable macroeconomic environment and drop of China’s nickel pig iron output, the nickel price is estimated to keep high in future months. Inner Mongolia High-alumina Fly Ash Project of 300,000 Tonnes Annual Capacity Initiates. Recently executives meeting of Shenhua Group formally confirms that the group’s comprehensive utilization project of high-alumina and coal ash of 300,000 tonnes' annual capacity in Jungar mining area and industrialized pilot project of alumina of 125,000 tonnes' annual capacity formally initiate, symbolizing these projects are expected to launch construction very soon. Crude Oil Posts Slight Gains In Asia, API Estimates Ahead. Crude oil prices gained slightly in Asia on Tuesday with turmoil in the Middle East and top exporter Saudi Arabia in focus as well as weekly U.S. estimates of inventories.On Wednesday, the Energy Information Administration (EIA) releases official data. The API and EIA data sets often diverge. Overnight, crude oil prices settled higher on Monday amid a spike in political uncertainty in the Middle East after Saudi Arabia Crown Prince Mohammed bin Salman, through an anti-corruption crackdown made a series of moves to consolidate his power. An anti- corruption drive led by Saudi Arabia Crown Prince Mohammed bin Salman resulted in wave arrests of prominent Saudi Arabian including royals, ministers and investors, fuelling political risk in the region. The anti-corruption crackdown comes as optimism grew for an extension to the output-cut agreement beyond March amid comments from Saudi energy minister Khalid al-Falih, who highlighted the importance of further cuts.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report -07 NOV 2017 Precious Metals CS GOLD (DEC) OVERVIEW: TREND : SIDEWAYS RESIST 2: 29650 RESIST 1: 29550 SUP 1: 29250 SUP 2: 29150 TREND : SIDEWAYS RESIST 2: 459.00 RESIST 1: 456.00 TREND : BULLISH RESIST 2: 848.00 RESIST 1: 843.00 TREND : BEARISH RESIST 2: 215.00 RESIST 1: 213.00 TREND : BULLISH RESIST 2: 166.00 RESIST 1: 164.00 CS ALUMINIUM (NOV) OVERVIEW: TREND : SIDEWAYS RESIST 2: 143.00 RESIST 1: 142.00 SUP1: 139.00 SUP2: 138.00 WWW.CAPITALSTARS.COM +917316690000 Energies CS CRUDE OIL (NOV) OVERVIEW: TREND : BULLISH RESIST 2: 210.00 RESIST 1: 207.00

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4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report - 07 NOV 2017 Pick for the Day MCX Crude Oil Nov on Monday as seen in the daily chart opened at 3600 levels and day high of 3705 levels. During this period price corrected & made day low of 3600 levels finally closed at 3691 levels. Now, there are chances of further Upside movement technically & fundamentally. . ∑ “There is a general satisfaction with the strategy of 24 countries that signed a declaration of cooperation,” Khalid al-Falih said Friday. “Everybody recognises that (the) job is not done yet by any means, we still have significant amount of work to do to bring inventories down. Mission is not yet complete, more needs to be done,” he added. ∑ In May, OPEC producers agreed to extend production cuts for a period of nine months until March, but stuck to production cuts of 1.2 million bpd agreed in November last year. ∑ In the U.S. meanwhile, traders continued to cheer data pointing to tightening in production after Baker Huges reported Friday that the number of oil rigs operating in the US fell by eight to 729. DAILY RECOMMENDATION: Buy MCX CRUDE OIL NOV AROUND 3680 LEVELS FOR TARGET OF T1 3730/T2 3750 WITH SL 3600 OF LEVELS.

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