Page 1

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

MCX Daily Report

13 JUNE 2018

News High lights

Gold Prices Fall Below $1,300 as Focus Shifts to Fed. Gold prices fell below the psychologically important $1,300 level as the Federal Reserve's two-day meeting got underway amid investor expectations the U.S. central bank will hike rates on Wednesday. The weakness in gold prices comes a day ahead of the Federal Reserve's decision on interest rates. But with most market participants expecting the Fed to raise rates Wednesday, the Fed's update on monetary policy will likely warrant added attention. Following the Fed's March meeting, most policymakers expected the central bank to hike rates three times in 2018 but a string of bullish data has renewed expectations for a fourth rate hike. Wells Fargo said it expects core PCE - the Fed's preferred measure of inflation – to reach the Fed's 2% target in the third quarter of year, paving the way for the U.S. central bank to hike rates on Wednesday and twice more in 2018. Copper dropped as positive sentiment was tempered by renewed fears of a global trade war amid a lack of consensus at the G7 summit in Canada. Copper on MCX settled down -0.08% at 484.60 on long liquidation as the dollar strengthened and BHP responded to a proposal from unionised workers at its Escondida copper mine in Chile. A stronger greenback makes dollardenominated metals more expensive for holders of other currencies and can weigh on prices. Global miner BHP, said it had responded to the latest contract proposal from unionized workers at its Escondida copper mine in Chile, triggering a new round of talks that could last a month or more. Hopes were raised about a settlement at Escondida after unionized workers at BHP’s Spence copper mine in northern Chile agreed on Monday to a new collective labour contract. Last night US dollar index closed at 93.8 overnight, up 0.26%. The index rose over 0.3% at one point after the “truly historic” US-North Korea Summit. Base metals fell across the board overnight. Today traders will be eyeing on the key factors which include the US PPI in May. While trades will remain vulnerable ahead of the upcoming Federal Reserve meeting on Wednesday, when it is widely expected to raise interest rates in what would be its second rate hike this year. Expectations for higher interest rates tend to be bearish for metals, which struggles to compete with yield-bearing assets when rates rise. Oil Prices Lower Amid Rising Supplies In U.S. Oil prices were lower on Wednesday as supplies in the U.S. rose, while expectations that voluntary production cuts led by the producer cartel OPEC could be loosened were also cited as headwind.The American Petroleum Institute (API) reported on Tuesday that crude oil inventories jumped 830,000 barrels last week to 433.7 million, as U.S. crude production surged 28% in the last two years to a record 10.8 million barrels per day. Output in Russia, another top producer, also rose above 11 million barrels per day, according to reports. Looking ahead, the Energy Information Administration (EIA) Official is scheduled to publish U.S. production and inventory data later in the day.

1


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

MCX Daily Report

13 JUNE 2018

Precious Metals CS GOLD (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 31400 RESIST 1: 31300 SUP 1: 31000 SUP 2: 30900 WWW.CAPITALSTARS.COM +917316690000

CS SILVER (JULY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 41100 RESIST 1: 40900 SUP 1: 40200 SUP 2: 40000 WWW.CAPITALSTARS.COM +917316690000

Base Metals CS COPPER (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 488.00 RESIST 1: 486.00 SUP 1: 475.00 SUP 2: 473.00 WWW.CAPITALSTARS.COM +917316690000

CS NICKEL (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 1045.00 RESIST 1: 1040.00 SUP 1: 1015.0 SUP 2: 1010.00 WWW.CAPITALSTARS.COM +917316690000

CS ZINC (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 221.00 RESIST 1: 219.00 SUP 1: 214.00 SUP 2: 212.00 WWW.CAPITALSTARS.COM +917316690000

CS LEAD (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 169.00 RESIST 1: 168.00 SUP 1: 165.00 SUP 2: 164.00 WWW.CAPITALSTARS.COM +917316690000

CS ALUMINIUM (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 160.00 RESIST 1: 158.00 SUP 1: 154.00 SUP 2: 152.00 WWW.CAPITALSTARS.COM +917316690000

Energies CS CRUDE OIL (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 4560 RESIST 1: 4520 SUP 1: 4420 SUP 2: 4380 WWW.CAPITALSTARS.COM +917316690000

CS NATURAL GAS (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 203.00 RESIST 1: 201.00 SUP 1: 195.00 SUP 2: 193.00 WWW.CAPITALSTARS.COM +917316690000

2


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

MCX Daily Report

13 JUNE 2018

Pick for the Day

MCX Crude Oil June on Tuesday as seen in the daily chart opened at 4475 levels and day high of 4523 levels. During this period price corrected & made day low of 4444 levels finally closed at 4478 levels. Now, there are chances of further upside movement technically & fundamentally.

   

 Movements in oil markets were expected 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.    

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

3


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

MCX Daily Report

13 JUNE 2018

Disclaimer The information and views in this report & all the service we provide are believed to be reliable, but we do not accept any responsibility for errors of fact or opinion. Investors have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. My research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser.

Capital Stars shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of regulators. The price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Investment & Trading in Securities Markets are always subjected to market risk.

Capitalstars Financial Research Private Ltd., Reserves all Rights.

CONTACT US BRANCH OFFICE Capitalstars Financial Research Private Limited Forex Trading Tips Share Tips Expert Stock Market Tips PLOT NO.32, MECHANIC NAGAR EXTENSION, IDA SCHEME NO.54, VIJAYNAGAR INDORE REGISTERED OFFICE PLOT NO.12, SCHEME NO.78 PART-II, VIJAY NAGAR, INDORE Email :- backoffice@capiltalstars.in

Report Is Checked By Investment Advisor :

4

Mcx daily report 13 june  

This Document is all about to provide daily MCX report.

Mcx daily report 13 june  

This Document is all about to provide daily MCX report.

Advertisement