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Mcx daily report 10 dec 2018

This Document is regarding Daily Mcx Report.

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Mcx daily report 10 dec 2018

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  1. CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDaily Report 10 DEC2018 NewsHighlights Gold steady near 5-month peak, soft U.S. jobs datasupports. Gold traded firm near a five-month peak hit early on Monday, supported by a disappointing U.S. jobs data that fuelled speculation that the Federal Reserve may stop raising interest rates sooner than expected. The dollar slipped against the yen and the euro, while stocks extended their slump as worries over U.S.-China trade tensions battered investor sentiment. Nonfarm payrolls increased by 155,000 jobs in November, while economists polled by Reuters had forecast payrolls increasing by 200,000 jobs. The U.S. central bank is flagging a turning point in monetary policy, as a Fed policymaker on Friday backed interest rate hikes in the "near term" but nodded to increasingly less certainty ahead. U.S.-China trade negotiations need to reach a successful end by March 1 or new tariffs will be imposed, U.S. Trade Representative Robert Lighthizer said on Sunday, clarifying there is a "hard deadline"afteraweekofseeming confusionamongPresidentDonaldTrumpandhisadvisers. In the physical market, sellers were reluctant to offload cargoes and these tightened supplies across themarket. London copper fluctuated to close slightly higher at $6,149/mt on Friday. Despite a positive start, the SHFE 1902 contractweakenedonFridaynight,withpressurefromthedailymovingaverage.Itclosedat49,060yuan/mt.Open interest for the SHFE copper complex remained below 500,000 lots, suggesting limited confidence among investors. LME copper is expected to trade at $6,120-6,170/mt today with the SHFE 1902 contract at 48,900-49,200 yuan/mt. Spotpremiumsareseenat150-420yuan/mt.Tightsuppliesarelikelytokeepbuyerschasinghigh-qualitymaterials. With worries over an escalation in the US-China trade tensions on Huawei CFO arrest, expected to trade in range bound. London nickel fluctuated to close higher at $10,955/mt on Friday. The SHFE 1905 contract fell to close at 89,350 yuan/mt on Friday night after climbing to a high of 90,140 yuan/mt. LME nickel is expected to hoveraround $10,900/mt today with the SHFE 1905 contract at 88,500-90,000 yuan/mt. Spot prices are seen at 88,500-98,000 yuan/mt. ONGC sells Russian Sokol crude for Feb at similar premium to Jancargoes. ONGC has sold a cargo of Russian Sokol crude cargo at a similar premium from the previous month, trade sources said on Monday. The cargo, loading on Feb. 10 to 16, was sold to a European trading house at a premium of $4.80 a barrel above Dubai quotes, they said. The deal marked the first February Sokol cargo to trade this month. The premium surprised the sources as they were expecting Sokol premiums to fall in line with other light sour grades sold to Asia and to reflect weaker refining margins. International oil prices rose on Monday, extending gains from Friday when producer club OPEC and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) from January. Prices surged on Friday after the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers including heavyweight Russia announced they would cut oil supply by 1.2 million bpd, with an 800,000 bpd reduction planned by OPEC-members and 400,000 bpd by countries not affiliated with thegroup.

  2. CapitalStars Financial Research Pvt.,Ltd., 2 SEBI Registration Number:INA000001647 MCXDaily Report 10 DEC2018

  3. CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDaily Report 10 DEC2018 Pick for theDAY • MCX Crude on Friday as seen in the Daily chart opened at 3760 levels and made day low of 3559 Levels. During this period Crude High is 3793 levels and finally closed at 3619 levels. Now, there are chances of down movement technically &fundamentally. • ONGC has sold a cargo of Russian Sokol crude cargo at a similar premium from the previous month, trade sources said onMonday. • The deal marked the first February Sokol cargo to trade this month. The premium surprised the sources as they were expecting Sokol premiums to fall in line with other light sour grades sold to Asia and to reflectweaker refining margins. • DAILY RECOMMENDATION: SELL MCX CRUDE DEC BELOW 3775 LEVELS FOR TARGET OF 3750/3730 WITH SL 3825 OFLEVELS.

  4. CapitalStars Financial Research Pvt.,Ltd., 4 SEBI Registration Number:INA000001647 MCXDaily Report 10 DEC2018 Disclaimer 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 ofa 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 beheldresponsiblefor.Investment&TradinginSecuritiesMarketsarealwayssubjectedtomarketrisk. Capitalstars Financial Research Private Ltd., Reserves allRights. CONTACTUS BRANCHOFFICE Capitalstars Financial Research PrivateLimited PLOT NO.32, MECHANIC NAGAR EXTENSION, IDA SCHEME NO.54, VIJAYNAGARINDORE REGISTEREDOFFICE PLOT NO.12, SCHEME NO.78 PART-II, VIJAY NAGAR,INDORE Email :-backoffice@capiltalstars.in Report Is Checked By InvestmentAdvisor:

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