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Mcx daily report 21 nov

this document is regarding daily mcx report.

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Mcx daily report 21 nov

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  1. CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 21 NOV2018 NewsHighlights Gold drops slightly as dollar firms on safe havendemand. Gold prices dropped slightly on Wednesday, as the U.S. dollar got a boost from safe-haven demand amid heightened risk aversion. U.S. President Donald Trump's administration on Tuesday said China had failed to alter its "unfair" practices at the heart of the U.S.-China trade conflict, adding to tensions ahead of a high-stakes meeting later this month between Trump and Chinese President Xi Jinping. U.S. homebuilding rose in October amid a rebound in multi-family housing projects, but construction of single-family homes fell for a second straight month, suggesting the housing market remained mired in weakness as mortgage rates march higher. Russia's gold reserves stood at 66.4 million troy ounces as of the start of November, the central bank said onTuesday. Persisting worries about the China-US trade conflict are expected to kept investors cautious today. As a stronger US dollar lowered base metals across the board last night, LME copper ended its six consecutive trading days of gains. It settled below the Bollinger middle bandat $6,173/mt, 1.31% lower on the day. The SHFE 1901 contract slumped to a low of 48,740 yuan/mt as shorts accumulated, and closed at 49,130 yuan/mt. Persisting worries about the China-US trade conflict are expected to kept investors cautious today. We see the contract trading at 48,800-49,400 yuan/mt today with its LME counterpart at $6,150-5,200/mt. Spot premiums are set at 50-130 yuan/mt as sellers firm upoffers. Refined nickel inventories in east China had piled up for three consecutiveweeks. Depression from the macro economy and weak fundamentals lowered LME nickel and the SHFE 1901 contract by 0.94% and 1.51%, respectively, last night. The contract once dipped to the lowest within the year at 91,510 yuan/mt. We expect LME nickel to hoveraround $11,000/mt today with the SHFE 1901 contract trading at 91,500-93,000 yuan/mt today. Spot prices are seen at 92,000-104,000yuan/mt. Oil claws back some losses after 6-pct plunge, but outlookweak. Oil prices on Wednesday recovered some of the previous day's over 6 percent plunge, lifted by a report of an unexpected decline in U.S. commercial crude inventories as well as record Indian crude imports. But investors remained on edge, with the International Energy Agency (IEA) warning of unprecedented uncertainty in oil markets due to a difficult economic environment and political risk. Wednesday's rebound came after a report by the American Petroleum Institute late on Tuesday that U.S. commercial crude inventories last week fell unexpectedly by 1.5 million barrels, to 439.2 million, in the week to Nov. 16. Crude imports by India of almost 5 million barrels per day (bpd) also supported prices, traders said. Wednesday's bounce did little to reverse overall market weakness, which saw crude tumble by more than 6 percent the previous session amid a selloff in global stock markets. Global economy is still going through a very difficult time and is very fragile," IEA chief Fatih Birol said on Tuesday. Investment bank Goldman Sachs said on Wednesday the renewedprice

  2. collapse reflected "concerns over excess supply in 2019... (and) a broader cross-commodity and cross-asset sell-off as growth concerns continue tomount."

  3. CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 21 NOV2018 CS ALUMINIUM (NOV)OVERVIEW: TREND :BEARISH RESIST 2:143.00 RESIST 1:141.00 SUP 1:138.00 SUP 2:136.00 WWW.CAPITALSTARS.COM+919977499927 Energies CS CRUDE OIL (DEC)OVERVIEW: TREND :BEARISH RESIST 2:4000 RESIST 1:3950 SUP 1:3890 SUP 2:3850 CS NATURAL GAS (NOV)OVERVIEW: TREND :BULLISH RESIST 2:330.00 RESIST 1:325.00 SUP 1:315.00 SUP 2:310.00

  4. WWW.CAPITALSTARS.COM +919977499927 WWW.CAPITALSTARS.COM +919977499927

  5. CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 21 NOV2018 Pick for theDAY • MCX Crude on Friday as seen in the Daily chart opened at 4083 levels and made day low of 3826 Levels. During this period Crude High is 4118 levels and finally closed at 43854 levels. Now, there are chances of down movement technically & fundamentally. • Oil markets lost steam on Tuesday, giving back earlier gains, as a deteriorating economic outlook and a surge in U.S. production outweighed expected supply cuts by the Organization of the Petroleum Exporting Countries(OPEC). • Oil prices are almost a quarter below their recent peaks in early October, weighed down by surging supply, especially from the United States. • DAILY RECOMMENDATION: SELL MCX CRUDE DEC BELOW 3896 LEVELS FOR TARGET OF 3870/3850 WITH SL 3950 OF LEVELS.

  6. CapitalStars Financial Research Pvt.,Ltd., 4 SEBI Registration Number:INA000001647 MCXDailyReport 21 NOV2018 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 of a financialadviser. 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 allRights. CONTACTUS BRANCHOFFICE Capitalstars Financial Research Private Limited Forex Trading Tips Stock Market Tips Share TipsExpert 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

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