CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
13 JULY 2018
News High lights
Metal Prices in Rebound Mode; Gold Prices Edge Higher. Gold prices steadied Thursday, as the dollar gave up some of its gains, while easing trade-war concerns prompted traders to cut bearish bets on other metals. Gold prices moved off seven-month lows as the dollar struggled to hold gains, hovering just above the flatline, after data showed timid growth in consumer prices last month.et safe-haven gold struggled to make a meaningful advance as risk-appetite turned positive on the prospect of renewed U.S.-China trade talks. Bloomberg reported that U.S. and Chinese officials considered restarting the trade conversations, which could lead to a bilateral agreement. Improved sentiment on the trade-war front comes just days after the White House issued a list late Tuesday of 10% tariffs on $200 billion worth of Chinese imports it will assess. Zinc recovered some of its losses on short covering after prices dropped on a gaining US dollar and fears of a trade war. Zinc on MCX settled down -0.14% at 176.85 despite LME zinc wazs inched up 0.45% to close at $2,575.5/mt overnight as trade war concerns eased, it continued to lack upward momentum to stand above $2,600/mt level. Investors would take guidance from China and US’ import and export data during the day. LME Zinc dropped by its 6 percent downside limit in Shanghai to 20,620 yuan per tonne, the lowest since June last year. Last night the US dollar index continued to gain on steadily-rising US inflation data and trade war saga. It closed at 94.8, with a slower growth rate from Wednesday. Secondary aluminium operating rate extends decline in Jun. Operating rate across Chinese secondary aluminium producers dropped in June due to a seasonal lull, environmental probes, stricter limits on impurities in scrap imports and sweeping tariffs on US aluminium scrap imports. June’s rate came in at 52.74%, down 5.91 percentage points month on month and 6.17 percentage points year on year. Production at most producers shrank and finished products inventory edged down. Most producers had relatively high finished products inventory as demand throughout the first six months of this year was much weaker than the same period last year. Producers, therefore, preferred to cut production and destock amid a seasonal lull in order to better manage their cashflows. Oil Prices Slip Amid Continued Concerns of Trade War, Return of Libyan Oil. Oil prices slipped on Friday as concerns about a China-U.S. trade war and the return of Libyan oil to the market continued to be cited as catalysts for the selling. The Libya's National Oil Corp announced on Wednesday that four export terminals were being reopened and allowed the return of as much as 850,000 barrels per day of oil into the markets, ending a standoff
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that had shut down most of Libya's oil output.The International Energy Agency, however, raised expectations for a global shortage in crude supplies as the energy watchdog warned of a potential capacity crunch amid a rise in output from Middle East Gulf countries and Russia, helping oil prices to recoup some losses.
CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647
MCX Daily Report
13 JULY 2018
Precious Metals CS GOLD (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 30350 RESIST 1: 30250 SUP 1: 29950 SUP 2: 29850 WWW.CAPITALSTARS.COM +917440449744
CS SILVER (SEP) OVERVIEW: TREND : BEARISH RESIST 2: 39900 RESIST 1: 39700 SUP 1: 38900 SUP 2: 38700 WWW.CAPITALSTARS.COM +917440449744
Base Metals CS COPPER (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 430.00 RESIST 1: 428.00 SUP 1: 418.00 SUP 2: 416.00 WWW.CAPITALSTARS.COM +917440449744
CS NICKEL (JULY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 985.00 RESIST 1: 980.00 SUP 1: 960.00 SUP 2: 955.00 WWW.CAPITALSTARS.COM +917440449744
CS ZINC (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 182.00 RESIST 1: 180.00 SUP 1: 173.00 SUP 2: 171.00 WWW.CAPITALSTARS.COM +917440449744
CS LEAD (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 155.00 RESIST 1: 153.00 SUP 1: 146.00 SUP 2: 144.00 WWW.CAPITALSTARS.COM +917440449744
CS ALUMINIUM (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 143.00 RESIST 1: 141.00 SUP 1: 138.00 SUP 2: 136.00 WWW.CAPITALSTARS.COM +917440449744
Energies CS CRUDE OIL (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 4880 RESIST 1: 4840 SUP 1: 4720
CS NATURAL GAS (JULY) OVERVIEW: TREND : BEARISH RESIST 2: 197.00 RESIST 1: 195.00 SUP 1: 188.00
SUP 2: 4680 WWW.CAPITALSTARS.COM +917440449744
SUP 2: 186.00 WWW.CAPITALSTARS.COM +917440449744
CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
13 JULY 2018
Pick for the Day
MCX Crude Oil July on Thursday as seen in the daily chart opened at 4875 levels and day high of 4894 levels. During this period price corrected & made day low of 4737 levels finally closed at 4780 levels. Now, there are chances of further downside movement technically & fundamentally.
Operating rate across Chinese secondary aluminium producers dropped in June due to a seasonal lull, environmental probes, stricter limits on impurities in scrap imports and sweeping tariffs on US aluminium scrap imports. June’s rate came in at 52.74%, down 5.91 percentage points month on month and 6.17 percentage points year on year. Production at most producers shrank and finished products inventory edged down. Most producers had relatively high finished products inventory as demand throughout the first six months of this year was much weaker than the same period last year. Producers, therefore, preferred to cut production and destock amid a seasonal lull in order to better manage their cashflows.
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DAILY RECOMMENDATION: SELL MCX CRUDE OIL JULY
AROUND 4820 LEVELS FOR TARGET OF TG 4770 T2 4740 WITH SL 4900 OF LEVELS.
CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
13 JULY 2018
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