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CapitalStars Financial Research Pvt., Ltd.,

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SEBI Registration Number: INA000001647

MCX Daily Report

12 JUNE 2018

News High lights

Gold Prices Range Bound Ahead of FOMC. Gold prices continued to hover around the psychologically important $1,300 level ahead of a widely expected Federal Reserve interest rate increase due Wednesday. Gold prices continued to be range bound as upside momentum in the yellow metal was capped by expectations the Federal Reserve will not only hike interest rates Wednesday but signal a hawkish tilt on monetary policy. The Fed hike path is much more hawkish than futures market pricing, Goldman Sachs said, forecasting three and four rate hikes in 2018 and 2019, respectively, with the risk of four rate hikes in 2019 skewed to the upside. Expectations for a faster pace of monetary policy come as "both inflation and employment are essentially at the Fed’s end-of-year targets," BNY Mellon said last week. The European Central Bank is also expected to announce its intention to step up efforts to rein in its massive bond buying programmed on Thursday. Operating rates of zinc die-casting plants dip to 50.7% in May. Operating rate across China's zinc die-casting plants stood at 50.7% in May, SMM survey showed. This was down 5.15 percentage points from April and down 8.85 percentage points from May last year, due to stricter environmental restrictions in slack season. SMM expects the operating rate to dip further to 49.71% in June, down 9.59 percentage points from the same month last year. The decline is contributed by suspension of some zinc die-casting plants from late May to mid-June due to the Shanghai Cooperation Organization (SCO) summit in Qingdao. In addition, the downstream of zinc die-casting industry has entered offseason in June. Narrower spot discounts hold traders back from buying aluminium in east China. Traders in the spot aluminium market in east China held back from purchasing and took a watch-and-wait stance on Monday June 11 as spot discounts against the SHFE 1806 contract narrowed, SMM learned. In the Shanghai market, transactions were mostly heard at 14,71014,720 yuan/mt with discounts of 30-20 yuan/mt against the SHFE 1806 contract, compared to 60-50 yuan/mt a week ago. The discounts stood at around 110 yuan/mt against the SHFE 1807 contract. In Wuxi and Hangzhou, transactions were mostly done at 14,710-14,720 yuan/mt and 14,740-14,760 yuan/mt, respectively. Sellers in east China were keen to offload their cargoes while downstream consumers purchased on demand. Overall trading was relatively thin. Oil Prices Climb as U.S., North Korean Leaders Hold Historic Talks. Oil prices climbed on Tuesday as traders look forward to the outcome of a summit between U.S. President Donald Trump and North Korean leader Kim


Jong Un in Singapore.Oil markets would likely to be heavily driven by policy events and statements this week, according to analysts. "This week is all about global developments ... And today marks the potentially momentous meeting between Donald Trump and North Korean leader Kim Jong-Un in Singapore," said Shannon Rivkin, investment director at Australia's Rivkin Securities.


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MCX Daily Report

12 JUNE 2018

Precious Metals CS GOLD (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 31450 RESIST 1: 31350 SUP 1: 31000 SUP 2: 30900 WWW.CAPITALSTARS.COM +917316690000

CS SILVER (JULY) OVERVIEW: TREND : BULLISH RESIST 2: 41200 RESIST 1: 41000 SUP 1: 40300 SUP 2: 40100 WWW.CAPITALSTARS.COM +917316690000

Base Metals CS COPPER (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 492.00 RESIST 1: 490.00 SUP 1: 480.00 SUP 2: 478.00 WWW.CAPITALSTARS.COM +917316690000

CS NICKEL (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 1050.00 RESIST 1: 1045.00 SUP 1: 1015.0 SUP 2: 1010.00 WWW.CAPITALSTARS.COM +917316690000

CS ZINC (JUNE) OVERVIEW: TREND : BULLISH RESIST 2: 222.00 RESIST 1: 220.00 SUP 1: 215.00 SUP 2: 213.00 WWW.CAPITALSTARS.COM +917316690000

CS LEAD (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 172.00 RESIST 1: 170.00 SUP 1: 166.00 SUP 2: 164.00 WWW.CAPITALSTARS.COM +917316690000

CS ALUMINIUM (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 161.00 RESIST 1: 159.00 SUP 1: 155.00 SUP 2: 153.00 WWW.CAPITALSTARS.COM +917316690000

Energies CS CRUDE OIL (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 4560 RESIST 1: 4520 SUP 1: 4430

CS NATURAL GAS (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 205.00 RESIST 1: 203.00 SUP 1: 197.00


SUP 2: 4390 WWW.CAPITALSTARS.COM +917316690000

SUP 2: 195.00 WWW.CAPITALSTARS.COM +917316690000


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

MCX Daily Report

12 JUNE 2018

Pick for the Day

MCX Crude Oil June on Monday as seen in the daily chart opened at 4425 levels and day high of 4478 levels. During this period price corrected & made day low of 4375 levels finally closed at 4472 levels. Now, there are chances of further upside movement technically & fundamentally.

 "Any positive outcome could be good news for markets, even if gold and oil may take a short-term hit," he added.  However, movements in oil markets are likely to remain limited as traders were reluctant to take on large new positions ahead of a meeting between producer cartel OPEC and some of its allies on June 22, as investors continued to fear OPEC could ease production curbs at its meeting to offset falling supplies in Venezuela and an expected drop in Iran oil exports as U.S. sanctions loom.    OPEC-member Iraq said last week that a production increase was not on the table as the market was stable and prices were good, despite reports that the U.S. government had asked Saudi Arabia and other OPEC members to increase oil output by around 1 million.  

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 DAILY RECOMMENDATION: BUY MCX CRUDE OIL JUNE AROUND 4450 LEVELS FOR TARGET OF TG 4500 T2 4530 WITH SL 4370 OF LEVELS.


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

MCX Daily Report

12 JUNE 2018

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Mcx daily report 12 june  

This document is all about to provide to daily MCX Report.

Mcx daily report 12 june  

This document is all about to provide to daily MCX Report.

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