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CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 01STAPR 2019 MCX Daily Report News Highlights BULLION - Bullion counter may trade sideways to negative path. Gold prices inched down on Monday as investor appetite for riskier assets improved on signs of progress in Sino-U.S. trade negotiations and better-than-expected Chinese economic data. Asian stocks rose as signs of progress in U.S.-China trade talks and firmer Wall Street shares supported sentiment, although another defeat for British Prime Minister Theresa May's proposed Brexit deal added to the pound's recent woes. U.S. President Donald Trump said on Friday that trade talks with China were going very well, but cautioned that he would not accept anything less than a "great deal" after top U.S. and Chinese trade officials wrapped up two days of negotiations in Beijing. Gold premiums in China eased last week as worries about a slowdown in the world's top bullion consumer prompted some customers to hold off on purchases, while a price dip buoyed appetite in other Asian hubs. Hedge funds and money managers increased their bullish wagers in COMEX gold in the week to March 26, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. ENERGY- Crude oil may trade on positive note as oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy. U.S. sanctions on Iran and Venezuela along with supply cuts by members of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers have helped support prices this year, overshadowing concerns about global growth and the U.S.-China trade war. The U.S. has also instructed oil trading houses and refiners to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited by published U.S. sanctions, three sources familiar with the matter said. A deal between OPEC and allies such as Russia to cut output by around 1.2 million barrels per day, which officially started in January, has also supported prices. U.S. natural gas futures fell to a five- week low on Friday on forecasts for warmer weather and less heating demand than previously expected in the next two weeks. BASE METAL - Base metals prices may trade sideways to positive path. China's manufacturing sector unexpectedly returned to growth for the first time in four months in March, in a sign that government stimulus measures may be slowly gaining traction, a private business survey showed on Monday. The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) expanded at the strongest pace in eight months in March, rising to 50.8 from 49.9 in February, above the neutral 50- mark dividing expansion from contraction on a monthly basis and the highest level seen since July 2018. Protests at Las Bambas in Peru, one of the country’s largest copper producers, showed no sign of abating days after the mine operator MMG warned it could declare force majeure on contracts. Chilean state miner Codelco produced slightly less copper in 2018 than the year before, the company reported on Friday, as it continued to contend with declining ore grades and rising costs at its aging mines.
CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 01STAPR 2019 MCX Daily Report Precious Metals TREND : BEARISH SUP 1:31600 SUP 2:31400 WWW.CAPITALSTARS.COM +919977499927 WWW.CAPITALSTARS.COM +919977499927 Base Metals CS COPPER (APR) OVERVIEW: TREND : BULLISH RESIST 2:458.00 RESIST 1:454.00 SUP 1: 444.00 SUP 2: 438.00 RESIST 2: 923.00 RESIST 1: 913.00 SUP 1: 895.00 SUP 2: 887.00 CS ZINC (MAR) OVERVIEW: TREND : BULLISH RESIST 2:209.00 RESIST 1:207.00 SUP 1: 204.00 SUP 2: 202.00 CS LEAD (MAR) OVERVIEW: TREND : BILLISH RESIST 2: 143.00 RESIST 1: 142.00 SUP 1: 140.00 SUP 2: 139.00 CS ALUMINIUM (MAR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 151.00 RESIST 1: 150.00 SUP 1: 147.00 SUP 2: 146.00 WWW.CAPITALSTARS.COM +919977499927 Energy CS CRUDE OIL (APR) OVERVIEW: TREND : SIDEWAYS
CapitalStars Financial Research Pvt., Ltd., 3 SEBI Registration Number: INA000001647 01STAPR 2019 MCX Daily Report Pick for the DAY MCX COPPER APR on FRIDAY as seen in the Daily chart opened at 441.90 levels and made day low of 441.90 Levels. During this period COPPER APR High is 451.65 levels and finally closed at 451.05 levels. Now, there are chances of up movement technically & fundamentally. DAILY RECOMMENDATION: BUY MCX COPPER APR ABOVE 455 LEVELS FOR TARGET OF 458/460 WITH SL 452 OF LEVELS.
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