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Daily MCX Report

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Daily MCX Report

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  1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report 14Aug 2018 News Highlights Gold below $1,200 as Turkey tremors boost dollar. GOLD broke through the 1,200 mark yesterday for the first time since March 2017 as it continued to be pressured by the dollar’s steady rise on safe haven flows. In the latest data from CFTC as at August 7, short positions built up by speculative traders were at their highest since data began in 2006, according to data compiled by Bloomberg. Overall however, net positioning is still long by 12,688 contracts, which is still the least since December 2015. Many commodities are falling victim to the dollar’s strength as risk- aversion trades gain popularity. COPPER markets continue to be plagued by the threat of strike action at some of the world’s largest mines. Copper markets continue to be plagued by the threat of strike action at some of the world’s largest mines. BHP is waiting to hear the response to its sweetened offer to workers at its Escondido mine in hopes of averting a strike, while strikers at the Caserones mine are set to go on strike on August 14 if mediation fails. Despite these potential supply disruptions, copper is struggling to gain any kind of foothold with a one-day spike higher on August 9 beaten back the following day. The base metal is facing its third straight down day and is now at 2.7102. The July 19 low of 2.6501 could be the next support level. We expect nickel prices to continue their weak performance today. LME nickel lost all the gains it made last week and closed at $13,535/mt on Monday. The SHFE 1811 contract overnight plummeted past the 20-day moving average to 111,330 yuan/mt after its initial, mild gains. It then recovered some losses and closed at 112,030 yuan/mt. We expect nickel prices to continue their weak performance today. LME nickel is likely to hover around $13,600/mt and the SHFE 1811 contract is likely to trade at 112,000- 113,800 yuan/mt. Spot prices are seen at 112,000-114,000 yuan/mt.. Oil dips as trade tensions drag; Iran sanctions provide some support. Oil prices are on the defensive with WTI sliding to a seven-week low overnight as markets consider the broader impact of the meltdown in the Turkish currency and economy. Additional pressure has come from the dollar’s bid bias as a safe haven stronghold, while a weekend IEA oil market report predicted that global demand for oil would slacken for the rest of this year before reviving next year. The combined downward pressure was strong enough to overcome reports that Saudi Arabia’s production has been scaled back in July even as Iran sanctions kick in..

  2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report 14Aug 2018 Precious Metals CS GOLD (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 29960 RESIST 1: 29840 SUP 1: 29680 SUP 2: 29580 WWW.CAPITALSTARS.COM +917440449744 CS SILVER (SEP) OVERVIEW: TREND : BEARISH RESIST 2: 38320 RESIST 1: 38100 SUP 1: 37500 SUP 2: 37300 WWW.CAPITALSTARS.COM +917440449744 Base Metals CS COPPER (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 430.00 RESIST 1: 427.00 SUP 1: 419.00 SUP 2: 415.00 WWW.CAPITALSTARS.COM +917440449744 CS NICKEL (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 979.00 RESIST 1: 963.00 SUP 1: 936.00 SUP 2: 925.00 WWW.CAPITALSTARS.COM +917440449744 CS ZINC (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 180.00 RESIST 1: 177.00 SUP 1: 172.00 SUP 2: 170.00 WWW.CAPITALSTARS.COM +917440449744 CS LEAD (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 151.00 RESIST 1: 149.00 SUP 1: 145.00 SUP 2: 143.00 WWW.CAPITALSTARS.COM +917440449744 CS ALUMINIUM (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 147.00 RESIST 1: 146.00 SUP 1: 144.00 SUP 2: 143.00 WWW.CAPITALSTARS.COM +917440449744 Energies CS CRUDE OIL (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 4780 RESIST 1: 4730 SUP 1: 4590 SUP 2: 4530 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (AUG) OVERVIEW: TREND : BULLISH RESIST 2: 208.00 RESIST 1: 207.00 SUP 1: 203.00 SUP 2: 201.50 WWW.CAPITALSTARS.COM +917440449744

  3. CapitalStars Financial Research Pvt., Ltd., 3 SEBI Registration Number: INA000001647 MCX Daily Report 14Aug 2018 Pick for the DAY MCX GOLD AUG on Monday as seen in the Daily chart opened at 29826 levels and made day Low of 29705 levels. During this period gold came up to 29893 levels and finally closed at 29725 levels. Now, there are chances of down movement technically & fundamentally. Gold below $1,200 as Turkey tremors boost dollar.  For the first time since March 2017 as it continued to be pressured by the dollar’s steady rise on safe haven flows.  DAILY RECOMMENDATION: SELL MCX GOLD AUG BELOW 29705 LEVELS FORTARGET OF 29645/29605 WITH SL 29795 OF LEVELS.

  4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report Disclaimer 14Aug 2018 The information and views in this report & all the service we provide are believed to be reliable, but we do not accept any responsibility for errors of fact or opinion. Investors have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. My research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Capital Stars shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of regulators. The price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Investment & Trading in Securities Markets are always subjected to market risk. Capitalstars Financial Research Private Ltd., Reserves all Rights. CONTACT US BRANCH OFFICE Capitalstars Financial Research Private Limited Forex Trading Tips Stock Market Tips Share Tips Expert PLOT NO.32, MECHANIC NAGAR EXTENSION, IDA SCHEME NO.54, VIJAYNAGAR INDORE REGISTERED OFFICE PLOT NO.12, SCHEME NO.78 PART-II, VIJAY NAGAR, INDORE Email :- backoffice@capiltalstars.in

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