Page 1

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

MCX Daily Report

16TH JAN 2020

News Highlights BULLION – Bullion counter may witness sideways movement as gold prices held steady on Thursday as investors remained concerned about existing tariffs and unresolved issues after Washington and Beijing signed a partial trade deal. U.S. President Donald Trump and Chinese Vice Premier Liu He signed a deal on Wednesday, defusing an 18-month row between the world's two largest economies. Gold can dip lower towards 39500 while taking resistance near 39700 while silver can test 46000 while taking resistance near 46500. However, the interim deal fails to address structural economic issues that led to the trade conflict, does not fully eliminate the tariffs that have slowed the global economy, and sets hard-to-achieve purchase targets. Gold prices had gained 18% last year on the back of the trade war and its impact on global economy. Adding to concerns, China's pledge to buy U.S. farm goods based on "market conditions" during the deal signing ceremony spurred doubts among farmers and commodity traders over Beijing's lingering tariffs on U.S. exports. U.S. Federal Reserve expressed confidence that borrowing costs are at the right level to sustain growth and lift inflation to healthier levels, despite what businesses say is a lingering drag from uncertainty over U.S. trade policy. ENERGY- Crude oil may witness lower level buying as oil prices rose on Thursday, propelled higher by the long-anticipated signing of an initial trade deal between Washington and Beijing that sets the stage for a potentially huge increase in energy supplies from the United States to China. Crude oil can recover towards 4150 while taking support near 4080. Under the socalled Phase 1 deal to call a truce in a trade war between the world's two biggest economies, China committed to buying over $50 billion more of U.S. oil, liquefied natural gas and other energy products over two years. U.S. crude stocks fell in the latest week while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. U.S. crude oil production rose to a record high of 13 million barrels per day in the week, the EIA said. Natural gas can dip lower 149 while facing resistance near 154. U.S. natural gas futures fell to a five-month low on Wednesday on forecasts for less cold weather and heating demand through the end of January than previously expected. BASE METAL – Base metals may trade with mixed bias. Copper may recover towards 456 while taking support near 450. London copper edged up on Thursday after the United States and China signed a preliminary trade deal, but gains were limited as investors doubted the pact would spur world economic growth. New home prices in China's 70 major cities rose 6.6% in December from a year earlier, the slowest since July 2018, and down from November's 7.1% on-year increase.

1


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

16TH JAN 2020

MCX Daily Report Precious Metals CS GOLD (FEB) OVERVIEW: TREND : SIDEWAYS RESIST 2: 39800 RESIST 1: 39700 SUP 1:39550 SUP 2: 39250 WWW.CAPITALSTARS.COM +919977499927

CS SILVER (MAR) OVERVIEW: TREND :BEARISH RESIST 2:46800 RESIST1:46600 SUP 1: 46100 SUP 2: 45900 WWW.CAPITALSTARS.COM +919977499927

Base Metals CS COPPER (JAN) OVERVIEW: TREND : BULLISH RESIST 2:459 RESIST 1:457 SUP 1:452 SUP 2:450 WWW.CAPITALSTARS.COM +919977499927

CS NICKEL (JAN) OVERVIEW: TREND : SIDEWAYS RESIST 2: 1060 RESIST 1:1050 SUP 1:1040 SUP 2:1030 WWW.CAPITALSTARS.COM +919977499927

CS ZINCMINI (JAN) OVERVIEW: TREND : SIDEWAYS RESIST 2: 183.50 RESIST 1:182.50 SUP 1:181 SUP 2: 180 WWW.CAPITALSTARS.COM +919977499927

CS LEADMINI (JAN) OVERVIEW: TREND : BULLISH RESIST 2:154 RESIST 1: 153 SUP 1: 151 SUP 2:150 WWW.CAPITALSTARS.COM +919977499927

CS ALUMINI (JAN) OVERVIEW: TREND : BEARISH RESIST 2:142 RESIST 1: 141 SUP 1: 139 SUP 2: 138 WWW.CAPITALSTARS.COM +919977499927

Energy CS CRUDE OIL (JAN) OVERVIEW: TREND : BEARISH RESIST 2:4200 RESIST 1:4170 SUP 1: 4060 SUP 2: 4040 WWW.CAPITALSTARS.COM +919977499927

CS NATURAL GAS (JAN) OVERVIEW: TREND : BEARISH RESIST 2:156 RESIST 1:154 SUP 1: 149 SUP 2: 147 WWW.CAPITALSTARS.COM +919977499927

2


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

MCX Daily Report

16TH JAN 2020

Pick for the DAY

MCX CRUDE OIL JAN on WEDNESDAY as seen in the Daily chart opened at 4126 levels and made day low of 4059 levels. During this period NICKEL JAN high is 4131 levels and finally closed at 4100 levels. Now, there are chances of down movement technically & fundamentally.

DAILY RECOMMENDATION: SELL CRUDE OIL JAN BELOW 4150 LEVELS FOR TARGET OF 4120/4100 WITH SL 4200 OF LEVELS.

3


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

MCX Daily Report

16TH JAN 2020

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

Profile for Chetna Sharma

MCX Daily Report 16 Jan 2020  

Capitalstars probvides you today's updated MCX report .Go through it and work accordingly.

MCX Daily Report 16 Jan 2020  

Capitalstars probvides you today's updated MCX report .Go through it and work accordingly.

Advertisement