CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
06TH AUGUST 2019
News Highlights BULLION - Bullion counter may witness some profit booking at higher levels. Gold prices continued to rise recently as the protracted trade war between the United States and China intensified after Washington designated Beijing a currency manipulator, prompting a flight towards safe-haven assets. The U.S. Treasury Department said on Monday it had determined for the first time since 1994 that China was manipulating its currency, and that Washington would engage the International Monetary Fund to eliminate unfair competition from Beijing. The U.S. action comes after China allowed its yuan to weaken past the key 7-per-dollar level on Monday for the first time in more than a decade, following Trump's decision to impose 10% tariffs on $300 billion of Chinese imports, ending a month-long trade truce. Gold priced in sterling soared to a record high on Monday, spurred by fear of a disorderly British exit from the European Union amidst trade tensions. ENERGY- Crude oil may trade on firm path as oil prices edged up on Tuesday, but remained under pressure as the escalating U.S.-China trade war stoked concerns over global economic growth and future demand for crude. The international benchmark fell more than 3% on Monday as traders worried the ongoing trade tensions between the world’s two biggest oil buyers would dent appetite for fuel. A yearlong U.S.-China trade war boiled over as Washington accused Beijing of manipulating its currency after China let the yuan drop to its lowest point in more than a decade. Iran’s seizure of the Iraqi oil tanker had raised some concerns about potential Middle East supply disruptions in the Gulf. Concerns that the trade conflict has entered a phase of retaliatory action were weighing down on the sentiments in the oil market, which at the moment is taking lesser notice of the Middle East tensions. U.S. natural gas futures fell to a fresh 38-month low on Monday after production rose to record highs over the weekend and the amount of gas flowing to the nation's liquefied natural gas (LNG) export terminals dropped. BASE METAL - Base metals may trade on sideways to weaker path. London copper fell for the sixth straight session on Tuesday, hovering around a two-year low, as a year-long U.S.-China trade war escalated and the Chinese offshore yuan fell to an all-time low. Proposed U.S. tariffs against the European Union over aircraft subsidies could concentrate market control over some supplies of copper alloy in the hands of a German-owned firm and hurt American businesses, U.S. industry players said. BHP Group is expanding its nickel business and plans to ramp up sales for the fast-growing electric vehicle sector. Russian aluminium producer Rusal suspended operations at its Achinsk alumina plant on Monday and evacuated all but essential staff after a fire broke out a nearby Russian military base, Rusal said.
1
CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
06TH AUGUST 2019
MCX Daily Report
Precious Metals CS GOLD (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 37500 RESIST 1: 37300 SUP 1: 36700 SUP 2: 36200 WWW.CAPITALSTARS.COM +919977499927
CS SILVER (SEP) OVERVIEW: TREND : BULLISH RESIST 2: 42800 RESIST 1: 42400 SUP 1: 41800 SUP 2: 41400 WWW.CAPITALSTARS.COM +919977499927
Base Metals CS COPPER (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 445.00 RESIST 1: 441.00 SUP 1: 433.00 SUP 2: 430.00 WWW.CAPITALSTARS.COM +919977499927
CS NICKEL (AUG) OVERVIEW: TREND : BULLISH RESIST 2: 1080.00 RESIST 1: 1070.00 SUP 1: 1050.00 SUP 2: 1040.00 WWW.CAPITALSTARS.COM +919977499927
CS ZINC (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 191.00 RESIST 1: 190.00 SUP 1: 188.00 SUP 2: 186.00 WWW.CAPITALSTARS.COM +919977499927
CS LEAD (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 156.00 RESIST 1: 155.00 SUP 1: 153.00 SUP 2: 152.00 WWW.CAPITALSTARS.COM +919977499927
CS ALUMINIUM (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 142.00 RESIST 1: 141.00 SUP 1: 139.00 SUP 2: 138.00 WWW.CAPITALSTARS.COM +919977499927
Energy CS CRUDE OIL (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 3960 RESIST 1:3930 SUP 1: 3870 SUP 2: 3820 WWW.CAPITALSTARS.COM +919977499927
CS NATURAL GAS (JUL) OVERVIEW: TREND : SIDEWAYS RESIST 2: 152.00 RESIST 1: 150.00 SUP 1: 147.00 SUP 2: 146.00 WWW.CAPITALSTARS.COM +919977499927
2
CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
06TH AUGUST 2019
Pick for the DAY
MCX NICKEL AUG on MONDAY as seen in the Daily chart opened at 1033.00 levels and made day low of 1033.00 Levels. During this period NICKEL AUG High is 1068.70 levels and finally closed at 1064.80 levels. Now, there are chances of up movement technically & fundamentally.
DAILY RECOMMENDATION: BUY MCX NICKEL AUG ABOVE 1060 LEVELS FOR TARGET OF 1075/1090 WITH SL 1040 OF LEVELS.
3
CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
06TH AUGUST 2019
MCX Daily Report
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 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@capitalstars.com CONTACT US:- 9039012727/9977499927
Report Is Checked By Investment Advisor:
4