CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
13TH AUGUST 2019
News Highlights BULLION - Bullion counter may remain on firm path as gold prices gained on Tuesday, hovering near a more than six-year high hit the previous day, as concerns around protests in Hong Kong, a slump in Argentina's markets and the ongoing Sino-U.S. trade war dented risk appetite. Protesters managed to shut down Hong Kong's airport, the world's busiest cargo airport, on Monday. Fears of a possible return to interventionist policies, gripped the Argentine market after market-friendly President Mauricio Macri lost by a much wider-than-expected margin in presidential primaries.. Investors are focused on the Federal Reserve's annual symposium next week. Traders see a 74% chance of a 25 basis-point rate cut by the Fed this September. ENERGY- Crude oil may trade with negative path as oil prices slipped on Tuesday, offsetting narrow gains in the previous session, as sluggish demand forecasts countered expectations that major producers would prop up oil prices by limiting crude oil output. U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday. Saudi Arabia, the de-facto leader of the Organization of the Petroleum Exporting Countries (OPEC), said late last week it plans to keep its crude oil exports below 7 million barrels per day in August and September to help drain global oil inventories. Saudi Aramco was ready for its IPO, but the timing for the deal will be decided by its sole shareholder, the Saudi government, a senior executive said on Monday. U.S. natural gas futures eased on Monday as the market focused more on an increase in production to record levels as opposed to forecasts for more demand over the next two weeks than previously expected. BASE METAL - Base metals may trade on sideways to weaker path. China's banks extended surprisingly fewer new yuan loans in July, while growth of money supply and total social financing also slowed, raising pressure on the central bank to ease policy further to support the slowing economy. Lead prices touched a two-week high on Monday after Belgium-listed Nyrstar said it had stopped production at its Port Pirie smelter in Australia, raising fears of shortages of the metal mainly used in car batteries. The stoppage is the second this year at the lead smelter and follows an outage in June and July, when 30,000 tonnes of metal were lost in the 12 million tonne market. Shanghai aluminum rose to its highest in more than two months on Tuesday, as a typhoon in China affected the world's top aluminum producer, raising concerns about supply disruptions. Facilities belonging to China Hongqiao Group 1378.HK were damaged by flooding after Typhoon Lekima wreaked havoc in the smelting heartland of Shandong, according to a statement from an affiliate firm. Indonesia aims to speed up enforcement of a ban on mineral ore exports that is currently due to come into force in 2020, news website Detik.com quoted coordinating minister for maritime affairs Luhut Pandjaitan as saying on Monday.
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
13TH AUGUST 2019
MCX Daily Report
Precious Metals CS GOLD (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 38900 RESIST 1: 38600 SUP 1: 38100 SUP 2: 37800 WWW.CAPITALSTARS.COM +919977499927
CS SILVER (SEP) OVERVIEW: TREND : BULLISH RESIST 2: 44800 RESIST 1: 44400 SUP 1: 43700 SUP 2: 43400 WWW.CAPITALSTARS.COM +919977499927
Base Metals CS COPPER (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 452.00 RESIST 1: 448.00 SUP 1: 440.00 SUP 2: 436.00 WWW.CAPITALSTARS.COM +919977499927
CS NICKEL (AUG) OVERVIEW: TREND : BULLISH RESIST 2: 1140.00 RESIST 1: 1130.00 SUP 1: 1110.00 SUP 2: 1100.00 WWW.CAPITALSTARS.COM +919977499927
CS ZINC (AUG) OVERVIEW: TREND : BEARISH RESIST 2: 187.00 RESIST 1: 186.00 SUP 1: 184.00 SUP 2: 183.00 WWW.CAPITALSTARS.COM +919977499927
CS LEAD (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 156.00 RESIST 1: 155.00 SUP 1: 153.00 SUP 2: 151.00 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: 3980 RESIST 1:3940 SUP 1: 3860 SUP 2: 3810 WWW.CAPITALSTARS.COM +919977499927
CS NATURAL GAS (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2: 153.00 RESIST 1: 152.00 SUP 1: 150.00 SUP 2: 148.00 WWW.CAPITALSTARS.COM +919977499927
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
13TH AUGUST 2019
Pick for the DAY
MCX NICKEL AUG on MONDAY as seen in the Daily chart opened at 1108.10 levels and made day low of 1106.10 levels. During this period NICKEL AUG High is 1128.30 levels and finally closed at 1121.70 levels. Now, there are chances of up movement technically & fundamentally.
DAILY RECOMMENDATION: BUY MCX NICKEL AUG ABOVE 1125 LEVELS FOR TARGET OF 1140/1155 WITH SL 1110 OF LEVELS.
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
13TH AUGUST 2019
MCX Daily Report
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