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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647

MCX Daily Report

12 JULY 2018

News High lights

Trade-War Jitters Rock Metals Prices; Gold Stumbles as Dollar Rallies. Gold prices tumbled Wednesday, as the dollar added to gains, while the Trump administration's threat of further tariffs on Chinese goods roiled other metals as copper sank to a nearly one-year low. The White House issued a list late Tuesday of 10% tariffs on $200 billion worth of Chinese imports it will assess. The threat of further U.S. tariffs on Chinese goods failed to garner investor demand for safe-haven gold, as dollar strength continued to keep a lid on the yellow metal. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.61% to 94.41 amid positive wholesale inflation data Tuesday. As well as hot U.S. wholesale inflation data Tuesday, the U.S. Senate's approval of a motion to give Congress a role in reviewing President Donald Trump's decision to impose tariffs on national security grounds, also boosted the greenback. Suspension extends at secondary lead smelters in Jiangxi. Secondary lead smelters in Jiangxi province are only likely to resume operations at the end of July at the earliest, after local government kicked off a new round of inspections last Friday. They resumed daily production of some 200 mt temporarily last week when central government's environmental reviews came to an end, SMM learned. While the fresh round of probe is scheduled to last until July 25, suspension at secondary lead smelters is set to extend to the end of this month as downstream consumption from lead-acid battery plants will be affected. Some local lead-acid battery plants were under full suspension again from July 6, sources told SMM. Aluminium inventory draw faster as consumption picks up. China's inventory of primary aluminium across eight major markets, including SHFE warrants, fell 33,000 mt over the week to stand at 1.8 million mt as of Thursday July 12, SMM data showed. Accelerated downstream consumption due to falling prices led the decline in stocks to be bigger than the 10,000 mt week-on-week drop recorded last Thursday. U.S. oil exports to India soar ahead of sanctions on Iran. U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration. U.S. President Donald Trump's administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India's shift advances the U.S. administration efforts to use energy to further its political goals. The United States has become a major crude exporter, sending 1.76 million barrels per day (bpd) abroad in April, according to the latest government figures. All told, producers and traders in the United States will send more than 15 million barrels of U.S. crude to India this year through July, compared with 8 million barrels in all of 2017. The exports to India could go higher if China imposes levies on its U.S. oil imports over the latest round of U.S. tariffs, which could damp Chinese purchases and lead U.S. crude prices lower.

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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647

MCX Daily Report

12 JULY 2018

Precious Metals CS GOLD (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 30500 RESIST 1: 30400 SUP 1: 30100 SUP 2: 30000 WWW.CAPITALSTARS.COM +917440449744

CS SILVER (SEP) OVERVIEW: TREND : BEARISH RESIST 2: 39800 RESIST 1: 39600 SUP 1: 38700 SUP 2: 38500 WWW.CAPITALSTARS.COM +917440449744

Base Metals CS COPPER (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 432.00 RESIST 1: 430.00 SUP 1: 410.00 SUP 2: 408.00 WWW.CAPITALSTARS.COM +917440449744

CS NICKEL (JULY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 1000.00 RESIST 1: 995.00 SUP 1: 960.00 SUP 2: 955.00 WWW.CAPITALSTARS.COM +917440449744

CS ZINC (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 186.00 RESIST 1: 184.00 SUP 1: 173.00 SUP 2: 171.00 WWW.CAPITALSTARS.COM +917440449744

CS LEAD (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 161.00 RESIST 1: 159.00 SUP 1: 153.00 SUP 2: 151.00 WWW.CAPITALSTARS.COM +917440449744

CS ALUMINIUM (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 146.00 RESIST 1: 144.00 SUP 1: 141.00 SUP 2: 139.00 WWW.CAPITALSTARS.COM +917440449744

Energies CS CRUDE OIL (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 4990 RESIST 1: 4950 SUP 1: 4820 SUP 2: 4780 WWW.CAPITALSTARS.COM +917440449744

CS NATURAL GAS (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 200.00 RESIST 1: 198.00 SUP 1: 191.00 SUP 2: 189.00 WWW.CAPITALSTARS.COM +917440449744

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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647

MCX Daily Report

12 JULY 2018

Pick for the Day

MCX Crude Oil July on Wednesday as seen in the daily chart opened at 5055 levels and day high of 5084 levels. During this period price corrected & made day low of 4878 levels finally closed at 4900 levels. Now, there are chances of further downside movement technically & fundamentally.

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 A. K. Sharma, head of finance at Indian Oil Corp (NS:IOC), the country's top refiner, said U.S. crude is gaining appeal because of its lower cost, and could expand further if China cuts its imports of U.S. energy.  "If China levies a tariff on U.S. oil then U.S. imports to India will probably rise," he said. "We are looking for a mini-term deal to buy three to four cargoes of U.S. oil over a period of three to six months instead of buying single cargoes."

DAILY RECOMMENDATION: SELL MCX CRUDE OIL JULY BELOW 4850 LEVELS FOR TARGET OF TG 4800 T2 4770 WITH SL 4930 OF LEVELS.

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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647

MCX Daily Report

12 JULY 2018

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Daily Mcx Report  

This Document is all about to provide Daily Mcx report.

Daily Mcx Report  

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