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CapitalStars Financial Research Pvt., Ltd.,

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SEBI Registration Number: INA000001647

MCX Daily Report

17 MAY 2018

News High lights

Gold prices remained under pressure on surging U.S. bond yields and a stronger dollar. Gold on MCX settled down -0.57% at 30997 tracking weakness from Comex Gold price while fell sharply earlier in the week yesterday also settled at $1,291.50/oz tumbling to a 5-month low amid speculation the Federal Reserve will raise interest rates in June. A stronger dollar also dented gold prices. Yesterday Gold prices recovered losses after falling to a session low of $1,285.70 as the dollar retreated from a five-month high, while the 10- year treasury yield met resistance after hitting a nearly seven-year high. The move off the lows in the yellow metal was also supported by renewed geopolitical uncertainty after President Donald Trump appeared less certain as to whether a planned summit with North Korean leader Kim Jong Un would still take place. Zinc prices settled flat with the uplift from encouraging Chinese home sales data capped by a stronger dollar. Zinc on MCX settled up 0.02% at 208.60 prices remained generally steady as weak indications such as China's mining and industrial production were announced the next day and wearing mood was drifting. While LME zinc gained 0.5 percent to $3,076.50 a tonne while sentiments remain weak on risk appetite was news that North Korea cancelled high-level talks with Seoul, denouncing military exercises between South Korea and the United States, breaking from several months of easing relations on the peninsula. Also the United States is seeking to make a rade deal with China, White House economic adviser Larry Kudlow said as bilateral talks between the world's two economic powerhouses resume in Washington this week. Spot copper discounts inch up in Shanghai . Spot copper in the Shanghai market was offered at a discount of 90-40 yuan/mt over the SHFE 1806 contract on the morning of Thursday May 17, SMM learned. This compared with a discount of 120-80 yuan/mt over the SHFE 1806 contract the previous morning. Oil Prices Rise On U.S. Stock Draws. Oil prices rose on Thursday morning in Asia after an inventory report showed U.S. crude and gasoline stocks fell more than expected.According to the U.S. Energy Information Administration’s weekly report, U.S. crude inventories fell by 1.4 million barrels in the week to May 11, compared with analyst expectations for a 763,000 barrel decrease. U.S. gasoline stocks fell 3.79 million barrels. Analysts had expected a 1.42 million barrel decline.


Meanwhile, looming U.S. sanctions against Iran, which currently produces 4% of global oil supplies, raised fears that oil markets will face shortages later this year when trade restrictions take effect. In Venezuela, production also plunged to 1.5 million barrels last month, its lowest level in decades due to its ongoing economic crisis.


CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647

MCX Daily Report

17 MAY 2018

Precious Metals CS GOLD (JUNE) OVERVIEW: TREND : BEARISH RESIST 2: 31250 RESIST 1: 31150 SUP 1: 30800 SUP 2: 30700 WWW.CAPITALSTARS.COM +917316690000

CS SILVER (JULY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 40500 RESIST 1: 40300 SUP 1: 39600 SUP 2: 39400 WWW.CAPITALSTARS.COM +917316690000

Base Metals CS COPPER (JUNE) OVERVIEW: TREND : SIDEWAYS RESIST 2: 468.00 RESIST 1: 466.00 SUP 1: 459.00 SUP 2: 457.00 WWW.CAPITALSTARS.COM +917316690000

CS NICKEL (MAY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 1005.00 RESIST 1: 1000.00 SUP 1: 965.00 SUP 2: 960.00 WWW.CAPITALSTARS.COM +917316690000

CS ZINC (MAY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 213.00 RESIST 1: 211.00 SUP 1: 207.00 SUP 2: 205.00 WWW.CAPITALSTARS.COM +917316690000

CS LEAD (MAY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 163.00 RESIST 1: 161.00 SUP 1: 156.00 SUP 2: 154.00 WWW.CAPITALSTARS.COM +917316690000

CS ALUMINIUM (MAY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 164.00 RESIST 1: 162.00 SUP 1: 156.00 SUP 2: 154.00 WWW.CAPITALSTARS.COM +917316690000

Energies CS CRUDE OIL (MAY) OVERVIEW: TREND : BULLISH RESIST 2: 4940 RESIST 1: 4900 SUP 1: 4790

CS NATURAL GAS (MAY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 196.00 RESIST 1: 194.00 SUP 1: 188.00


SUP 2: 4750 WWW.CAPITALSTARS.COM +917316690000

SUP 2: 186.00 WWW.CAPITALSTARS.COM +917316690000


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

MCX Daily Report

17 MAY 2018

Pick for the Day

MCX Crude Oil May on Wednesday as seen in the daily chart opened at 4845 levels and day high of 4845 levels. During this period price corrected & made day low of 4792 levels finally closed at 4820 levels. Now, there are chances of further upside movement technically & fundamentally.

 Oil prices have surged more than 70% over the last year as demand has risen sharply while production has been restricted by the Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia, and other producers, including Russia.

 The tightening market has all but eliminated a global supply overhang which depressed crude prices between late 2014 and early 2017.  The International Energy Agency warned global demand is likely to moderate this year as crude prices near $80 a barrel and many key importing countries no longer offer consumers generous fuel subsidies.

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DAILY RECOMMENDATION: BUY MCX CRUDE OIL MAY

AROUND 4820 LEVELS FOR TARGET OF T1 4870 / T2 4900 WITH SL 4740 OF LEVELS.


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

MCX Daily Report

17 MAY 2018

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Report Is Checked By Investment Advisor :

Mcx daily report 17 may  

This Document is all about to provide daily MCX Report.

Mcx daily report 17 may  

This Document is all about to provide daily MCX Report.

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