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CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 24 OCT2018 NewsHighlights Gold prices inch up amid international economic, politicalworries. Gold prices nudged up on Wednesday after hitting their highest in over three months in the previous session, with international political and economic uncertainty underpinning safe- haven demand for the metal. President Donald Trump said on Tuesday that Saudi authorities staged the "worst cover-up ever" in the killing of prominent journalist Jamal Khashoggi this month, as the United States vowed to revoke the visas of some of those believed to be responsible. Gold prices today in global markets nudged up after hitting their highest in over three months in the previous session, with international political and economic uncertainty underpinning safe-haven demand for the metal. Spot gold was up 0.1% at $1,231.27 an ounce at 0102 GMT. On Tuesday, it touched its highest since July 17 at $1,239.68. US gold futures were down 0.2 percent at $1,234.20 anounce. Copper prices may struggle to find much upside as China’s recent fiscal stimulus has yet to boost downstreamdemand. London copper recovered some earlier losses and closed at $6,183/mt overnight as the US dollar index dipped. The SHFE 1812 contract opened lower overnight and dropped to the lowest so far this week at 49,820 yuan/mt. It then rose to 50,240 yuan/mt. As some longs booked profits, the contract edged down by closing but still stood above 50,000 yuan/mt. Copper prices may struggle to find much upside as China’s recent fiscal stimulus have yet to boost downstream demand and Q4 infrastructure. LME copper is likely to trade at $6,150- 6,210/mt today with the SHFE 1812 contract at 49,800-50,400 yuan/mt. Spot prices are seen between discounts of 30 yuan/mt to premiums of 20yuan/mt. A large nickel pig iron (NPI) producer in east China plans to commission new capacity at the end of this month, earlier than the previouslyscheduled. With pressure at $12,500/mt, LME nickel weakened to the $12,400/mt level again and closed the trading day at $12,395/mt after recovering some earlier losses. The SHFE 1901 contract fell to the 102,800 yuan/mt level and ended at 102,930 yuan/mt overnight after rising past the 10-day moving average. Shandong Xinhai, a large nickel pig iron (NPI) producer in east China plans to commission new capacity at the end of this month, earlier than the previously scheduled end of December. LME nickel is likely to hover around $12,400/mt today with the SHFE 1901 contract at 102,000-103,500 yuan/mt. Spot prices are seen at 103,000-110,000 yuan/mt. Oil prices fall as Saudi Arabia pledges to play 'responsible role' inmarket. Oil prices on Wednesday clawed back a fraction of their hefty losses the day before that came after Saudi Arabia said it would make up for supply disruptions from U.S. sanctions starting next month on Iran's petroleumexports. Energy Minister Khalid al-Falih said at an investment conference in Riyadh on Tuesday that despite expected supply disruptions from U.S. sanctions against Iran that kick in from Nov. 4, Saudi Arabia would step up to "meet any demand that materialises to ensure customers are satisfied". prices fell substantially as Saudi Arabiareleasedassurancesitcouldsupplymoretotheglobalmarket,"Australia'sRivkinSecuritiessaid.
China's state planner said on Wednesday it would step up financial support for regions most hit by the ongoing trade war between Washington and Beijing in which both sides have slapped import tariffs on hundreds of goods.
CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 24 OCT2018 PreciousMetals CS GOLD (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 32150 RESIST 1: 32000 SUP1:31850 SUP 2:31750 WWW.CAPITALSTARS.COM +917440449744 CS SILVER (DEC) OVERVIEW: TREND :SIDEWAYS RESIST 2:39400 RESIST 1:39200 SUP 1: 38800 SUP 2: 38600 WWW.CAPITALSTARS.COM +917440449744 BaseMetals CS COPPER (NOV) OVERVIEW: TREND : BULLISH RESIST2:458.00 RESIST1:454.00 SUP 1: 446.00 SUP 2: 440.00 WWW.CAPITALSTARS.COM +917440449744 CS NICKEL (OCT) OVERVIEW: TREND : BEARISH RESIST 2:928.00 RESIST 1:918.00 SUP 1: 907.00 SUP 2: 900.00 WWW.CAPITALSTARS.COM +917440449744 CS ZINC (OCT)OVERVIEW: TREND : SIDEWAYS RESIST2:205.00 RESIST 1:203.00 SUP 1:200.00 SUP 2: 197.00 WWW.CAPITALSTARS.COM +917440449744 CS LEAD (OCT) OVERVIEW: TREND : BEARISH RESIST 2:150.00 RESIST 1:148.00 SUP 1:145.00 SUP 2: 143.00 WWW.CAPITALSTARS.COM +917440449744 CS ALUMINIUM (OCT)OVERVIEW: TREND :BEARISH RESIST 2:150.00 RESIST 1:148.00 SUP 1:146.00 SUP 2:144.00 WWW.CAPITALSTARS.COM+917440449744 Energies CS CRUDE OIL (NOV)OVERVIEW: TREND :BEARISH RESIST 2:5000 RESIST 1:4950 SUP 1:4840 SUP 2: 4800 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (OCT)OVERVIEW: TREND :BEARISH RESIST 2:239.00 RESIST 1:237.00 SUP 1:235.00 SUP 2: 233.00 WWW.CAPITALSTARS.COM +917440449744
CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 24 OCT2018 Pick for theDAY • MCX Crude on Monday as seen in the Daily chart opened at 5124 levels and made day low of 4847 levels. During this period Crude High is 5128 levels and finally closed at 4887 levels. Now, there are chances of down movement technically & fundamentally. • Oil prices fell on Tuesday after Saudi Arabia pledged to play a "responsible role" in energy markets, although sentiment remained nervous in the run-up to U.S. sanctions against Iran's crude exports that start next month. • Jamal Khashoggi has been concern that just as markets tighten on the back of the U.S. sanctions against Iran, Saudi Arabia could cut crude supply in retaliation for potential sanctions against it over the Khashoggikilling. DAILY RECOMMENDATION: SELL MCX CRUDE NOV BELOW 4900 LEVELS FOR TARGET OF 4860/4840 WITH SL 4960 OF LEVELS.
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