Daily Mcx Report 13 Sep 2019

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 13THSEPTEMBER 2019 MCX Daily Report News Highlights BULLION - Bullion counter may trade with sideways bias as gold prices were little changed on Friday, on track for a third weekly decline as optimism over the U.S.-China trade talk fanned risk sentiment. Hopes of progressing trade talks kept risk appetite up, after U.S. President Donald Trump said on Thursday he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact, even as he said an “easy” agreement would not be possible. Elsewhere, European Central Bank chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing euro zone economy. The World Gold Council (WGC) on Thursday published a set of guidelines for gold miners, responding to rising pressure from consumers. The bigger-than-expected stimulus will increase pressure on the U.S. Federal Reserve and Bank of Japan to ease policy next week to support a world economy increasingly characterized by low growth and protectionist threats to free trade. ENERGY- Crude oil may remain on weaker side as oil futures fell on Friday as optimism over an end to the U.S.-China trade war faded, leaving prices set for a weekly loss after days of wild gyrations. Brent has traded in a range of nearly $5 this week and is heading for the first weekly loss in five. U.S. crude has traded similarly and is heading for its first loss in three weeks. Gloom over the dispute between Washington and Beijing left investors shrugging off a commitment from Organization of the Petroleum Exporting Countries (OPEC) producers to trim output, with more signs emerging that global economic growth is being stunted by the trade row. A market-monitoring committee formed by OPEC and allied producers, a grouping known as OPEC+, met on Thursday in Abu Dhabi ahead of policy discussions set for Vienna in December. OPEC+ has over-complied on average with its agreed cut of 1.2 million barrels per day (bpd) as Iranian and Venezuelan exports collapsed due to sanctions. BASE METAL - Base metals may trade with upside bias. Base metals edged higher on Friday as investors cheered signs of progress in resolving the U.S.-China trade conflict, but the market was quiet due to a public holiday in top consumer China. China renewed purchases of U.S. farm goods, and U.S. President Donald Trump delayed a tariff increase on certain Chinese goods by two weeks, as the two sides made conciliatory gestures ahead of planned talks later in September and October. The premium of LME nickel cash to the three-month contract jumped to $163 a tonne from $102 a tonne in the previous session, signalling tight nearby supplies. On-warrant nickel stocks in LME-approved warehouses or those available for delivery, tumbled to their lowest level in a decade at 77,628 tonnes, latest data showed.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 13THSEPTEMBER 2019 MCX Daily Report TREND : BEARISH TREND : BEARISH WWW.CAPITALSTARS.COM +919977499927 WWW.CAPITALSTARS.COM +919977499927 Base Metals TREND : SIDEWAYS RESIST 2: 461.00 RESIST 1: 457.00 SUP 1: 450.00 SUP 2: 446.00 RESIST 2: 1270.00 RESIST 1: 1260.00 CS LEAD (SEP) OVERVIEW: TREND : SIDEWAYS RESIST 2: 188.00 RESIST 1: 187.00 SUP 1: 185.00 SUP 2: 184.00 RESIST 2: 157.00 RESIST 1: 156.00 SUP 1: 154.00 SUP 2: 153.00 RESIST 2: 142.00 RESIST 1: 141.00 SUP 1: 139.00 SUP 2: 138.00 WWW.CAPITALSTARS.COM +919977499927 Energy TREND : SIDEWAYS TREND : SIDEWAYS

3. CapitalStars Financial Research Pvt., Ltd., 3 SEBI Registration Number: INA000001647 13THSEPTEMBER 2019 MCX Daily Report Pick for the DAY MCX GOLD OCT on THRUSDAY as seen in the Daily chart opened at 37898 levels and made day low of 37662 levels. During this period GOLD OCT high is 38228 levels and finally closed at 37750 levels. Now, there are chances of down movement technically & fundamentally. DAILY RECOMMENDATION: SELL MCX GOLD OCT BELOW 37710 LEVELS FOR TARGET OF 37610/37510 WITH SL 37810 OF LEVELS.

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