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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 16Aug 2018 News Highlights Gold hits more than 18-month low as dollar gains on Turkey troubles. Gold fell to a more than 18-month low on Wednesday as the dollar climbed towards its highest in over a year on concerns about global market contagion triggered by recent declines in the Turkish lira. Further gold liquidation from emerging markets to strengthen local currencies also pressured bullion, several traders said. The advancing dollar and worries of continued oversupply also pushed platinum and palladium to their lowest since October 2008 and July 2017 respectively. Bullion has declined about 9 percent this year, pressured by rising U.S. interest rates, a soaring dollar and failure to capitalize on its traditional role as a hedge against global uncertainties. investors have opted for U.S. Treasuries, seen as the ultimate safe haven, which meant they had to buy dollars, while bearish sentiment on gold led to liquidations in exchange-traded funds (ETFs) and a record level of short positions. Copper Tumbles into a Bear Market. Copper plunged into a bear market as concerns mount that Turkey’s financial crisis and the U.S.-China trade spat will stymie global economic growth. The red metal for delivery in three months fell 4 percent to settle at $5,801 a metric ton at 5:52 p.m. Wednesday on the London Metal Exchange. That’s a more-than 20 percent drop from its high of $7,332 a ton in June, meeting the common definition of a bear market. Copper has posted four straight daily losses, dropping to the lowest in more than a year. Losses on Wednesday were triggered by a broad retreat in China as the Yuan weakened and recent data showed the economy hit a rough patch. We expect nickel prices to continue their weak and range bound pattern today. LME nickel slumped over 4%, breaking through $13,000/mt to a low of $12,770/mt, and closed at $12,880 yuan/mt on Wednesday. The SHFE 1811 contract fell past 108,000 yuan/mt to a low of 107,110 yuan/mt before it slightly rebounded and closed at 107,910 yuan/mt overnight. We expect nickel prices to continue their weak and range bound pattern today. LME nickel is likely to hover around $12,800/mt and the SHFE 1811 contract at 106,500-108,000 yuan/mt. Spot prices are seen at 107,000-109,000 yuan/mt. Oil edges up as China, U.S. set for trade talks Oil prices on Thursday recouped some of the previous day's losses after Beijing said it would send a delegation to Washington to try to resolve trade disputes between the United States and China that have roiled global markets. U.S. West Texas Intermediate (WTI) crude futures CLc1 were weaker, trading down 8 cents at $64.93 a barrel amid rising U.S. crude production and storage levels. Both benchmarks lost more than 2 percent the previous day. said Thursday's markets were pushed up by news that a Chinese delegation led by Vice Minister of Commerce Wang Shouwen will hold talks with U.S. representatives led by Under

  2. Secretary of Treasury for International Affairs David Malpass later in August. and the United States have implemented several rounds of tit-for-tat tariffs on each others goods since the start of the year and have threatened further tariffs on exports worth hundreds of billions of dollars.

  3. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report 16Aug 2018 Precious Metals CS GOLD (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 29950 RESIST 1: 29850 SUP 1: 29680 SUP 2: 29580 WWW.CAPITALSTARS.COM +917440449744 CS SILVER (SEP) OVERVIEW: TREND : BEARISH RESIST 2: 38300 RESIST 1: 38150 SUP 1: 37500 SUP 2: 37300 WWW.CAPITALSTARS.COM +917440449744 Base Metals CS COPPER (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 425.00 RESIST 1: 424.00 SUP 1: 417.00 SUP 2: 414.00 WWW.CAPITALSTARS.COM +917440449744 CS NICKEL (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 950.00 RESIST 1: 942.00 SUP 1: 930.00 SUP 2: 924.00 WWW.CAPITALSTARS.COM +917440449744 CS ZINC (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 180.00 RESIST 1: 178.00 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: 146.00 RESIST 1: 145.00 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: 210.00 RESIST 1: 208.50 SUP 1: 203.50 SUP 2: 201.50 WWW.CAPITALSTARS.COM +917440449744

  4. CapitalStars Financial Research Pvt., Ltd., 3 SEBI Registration Number: INA000001647 MCX Daily Report 16Aug 2018 Pick for the DAY MCX NG AUG on Tuesday as seen in the Daily chart opened at 204.80 levels and made day High of 208.40 levels. During this period NG came down to 204.50 levels and finally closed at 207.60 levels. Now, there are chances of up movement technically & fundamentally. The EIA reports that total U.S. consumption of natural gas rose by 1% compared with the previous report week.  Natural gas consumed for power generation climbed by 6% week over week as temperatures generally warmed across the United States.  DAILY RECOMMENDATION: BUY MCX NG AUG ABOVE 208.30 LEVELS FORTARGET OF 210/211 WITH SL 205 OF LEVELS.

  5. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report Disclaimer 16Aug 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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