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CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 28 Aug2018 NewsHighlights Gold demand may fall in flood-hitKerala. Expenditure on gold jewellery in Kerala is the highest in the country. But the robust demand has been affected by the floods. Rajesh Bhayani reports. In flood-hit areas, the first priority is rehabilitation and gold could be the best asset to encash. There is also a possibility of default on loan against gold pledged by poor and middle class people in the time of crisis like this. So far as gold loans are concerned, companies providing these loans and the banks are thinking of recovering default amounts by selling the gold pledged to them as collateral, but under the present circumstances, the recovery is looking impossible. There is possibility of large-scale defaults in repayment and pledged stock could come for auction augmenting the supply ofgold. Copper will continue to run bullish in short period A weaker US dollar and improved market sentiment are expected to continue to buoy copper prices in the short run. With support from fundamentals, the SHFE 1810 contract opened at highs of 48,850 yuan/mt. It closed at 48,710 yuan/mt overnight with a trading range forecasted at 48,600-49,000 yuan/mt today. A surging Chinese yuan is likely to drive LME copper to outperform the contract today. LME copper is seen trading at $6,075-6,130/mt today. We expect spot premiums to extend their decline to 20-80 yuan/mt as traders destocked. Low inventories in Nickel may continue to boosterprices.. As shorts left and longs increased, the SHFE 1811 contract broke resistance at the 109,000 yuan/mt level overnight and closed at 108,880 yuan/mt. Current low inventories may continue to bolster prices, with support expected at the 108,000 yuan/mt level. The contract islikelytotradebetween108,000-109,500yuan/mttoday,withLMEnickelhoveringaround $13,300/mt. Spot prices is likely to stand at 108,000-110,500yuan/mt. Oil prices edge up on supply disruptionworries. Oil prices rose on Tuesday as risks of supply disruptions from places such as Venezuela, Africa and Iran triggered expectations of a tightening market. International Brent crude oil futures LCOc1 were at $76.37 per barrel at 0215 GMT, up 16 cents, or 0.2 percent, from theirlastclose.U.S.WestTexasIntermediate(WTI)crudefuturesCLc1wereup9cents,or 0.1 percent, at $68.96 a barrel. Despite some concerns about an economic slowdown because of the U.S.-China trade conflict, crude supplies are relatively tight due to disruptions as well as voluntary restraints on output by the Organization of the Petroleum Exporting Countries(OPEC).
CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 28 Aug2018 CS ALUMINIUM (AUG) OVERVIEW: TREND :BULLISH RESIST 2:148.00 RESIST 1:146.50 SUP 1:140.00 SUP 2:138.50 WWW.CAPITALSTARS.COM+917440449744 Energies CS CRUDE OIL (SEP)OVERVIEW: TREND :BULLISH RESIST 2:4910 RESIST 1:4860 SUP 1:4800 SUP 2: 4750 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (AUG) OVERVIEW: TREND :SIDEWAYS RESIST 2:208.00 RESIST 1:206.50 SUP 1:203.50 SUP 2: 201.00 WWW.CAPITALSTARS.COM +917440449744
CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 28 Aug2018 Pick for theDAY • MCX CRUDE SEP on Monday as seen in the Daily chart opened at 4804 levels and made day High of 4838 levels. During this period Crude came down to 4797 levels and finally closed at 4825 levels. Now, there are chances of up movement technically &fundamentally. • Despite some concerns about an economic slowdown because of the U.S.-China trade conflict, crude supplies are relatively tight due to disruptions as well as voluntary restraints on output by the Organization of the Petroleum Exporting Countries(OPEC). • Oil prices rose on Tuesday as risks of supply disruptions from places such as Venezuela, Africa and Iran triggered expectations of a tighteningmarket. DAILY RECOMMENDATION: BUY MCX CRUDE OCT 4827 LEVELS FOR TARGET OF 4845/4860 WITH SL 4795 OFLEVELS.
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