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

MCX Daily Report

03RD DEC 2019

News Highlights

BULLION – Bullion counter may trade on weaker path. Gold steadied on Monday after paring losses as weak U.S. manufacturing data rekindled worries about a slowing economy, while palladium exceeded $1,860 per ounce in its week-long surge to new all-time highs on a supply crunch. His notion is that the U.S. Federal Reserve is done cutting (interest rates) for now and we’ll need to see a trend in weaker data through early 2020 to convince the market that we’re going to get more cuts. Until then, there’s no real impetus to see gold rally. The Fed cut rates three times this year and has one more meeting on Dec.10-11. However, investors now see the Fed keeping interest rates unchanged until at least mid-2020. Markets also awaited clarity on an interim U.S.-China trade deal.

ENERGY- Crude oil may witness some bounce back assoil prices rose for a second day on Tuesday as Saudi Arabia, the de facto OPEC leader and the world’s biggest oil exporter, is pushing producers to deepen a supply cut agreement when suppliers meet this week, potentially lowering supply in 2020. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are discussing a plan to increase its existing 1.2 million barrels per day (bpd) supply cut by 400,000 bpd and extend the pact until June, two sources familiar with the matter said. OPEC ministers will meet in Vienna on Thursday and the wider OPEC+ group will gather on Friday. Concerns about the inability of the United States and China, the world’s two biggest oil users, to come to a preliminary agreement to resolve their 17-month trade dispute also weighed on oil prices, along with discouraging U.S. economic data. BASE METAL – Base metals may trade with sideways to upside bias. London copper prices slid on Tuesday, with most industrial metals coming under pressure, as manufacturing data from China failed to assuage lingering doubts of an economic slowdown. Zinc sank to its lowest in nearly three months on Monday and other industrial metals also posted losses as investors doubted that upbeat manufacturing data in China pointed to an economic recovery. The net speculative short position of LME zinc has risen to 14.7% of open interest, a level not seen since late September. Le Norsk Hydro, one of the world’s biggest aluminum producers, plans to cut production by 20% at its majority-owned Slovalco plant in Slovakia, citing a weakening market. The weak aluminum market has led to rising inventories. On-warrant LME stocks, material not earmarked for delivery, reached 1,114,650 tonnes, the highest since Feb. 22.

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

03RD DEC 2019

MCX Daily Report Precious Metals CS GOLD (FEB) OVERVIEW: TREND :SIDEWAYS RESIST 2: 38120 RESIST 1: 38030 SUP 1:37820 SUP 2: 37690 WWW.CAPITALSTARS.COM +919977499927

CS SILVER (MAR) OVERVIEW: TREND :BEARISH RESIST 2:45140 RESIST1:44940 SUP 1: 44540 SUP 2: 44340 WWW.CAPITALSTARS.COM +919977499927

Base Metals CS COPPER (DEC) OVERVIEW: TREND : SIDEWAYS RESIST 2:438 RESIST 1:434 SUP 1:430 SUP 2:426 WWW.CAPITALSTARS.COM +919977499927

CS NICKEL (DEC) OVERVIEW: TREND : SIDEWAYS RESIST 2:1039 RESIST 1:1024 SUP 1:994 SUP 2:979 WWW.CAPITALSTARS.COM +919977499927

CS ZINC (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 184 RESIST 1:183 SUP 1:181 SUP 2: 180 WWW.CAPITALSTARS.COM +919977499927

CS LEAD (DEC) OVERVIEW: TREND : BEARISH RESIST 2:154 RESIST 1: 153 SUP 1: 151 SUP 2: 150 WWW.CAPITALSTARS.COM +919977499927

CS ALUMINIUM (DEC) OVERVIEW: TREND : BULLISH RESIST 2:136 RESIST 1: 135 SUP 1: 133 SUP 2: 132 WWW.CAPITALSTARS.COM +919977499927

Energy CS CRUDE OIL (DEC) OVERVIEW: TREND : SIDEWAYS RESIST 2:4100 RESIST 1:4050 SUP 1: 3980 SUP 2: 3950 WWW.CAPITALSTARS.COM +919977499927

CS NATURAL GAS (DEC) OVERVIEW: TREND : BEARISH RESIST 2:170 RESIST 1:169 SUP 1: 167 SUP 2: 166 WWW.CAPITALSTARS.COM +919977499927

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

MCX Daily Report

03RD DEC 2019

Pick for the DAY

MCX ZINC DEC on MONDAY as seen in the Daily chart opened at 185.60 levels and made day low of 181.95 levels. During this period ZINC DEC high is 185.60 levels and finally closed at 182.20 levels. Now, there are chances of up movement technically & fundamentally.

DAILY RECOMMENDATION: SELL MCX ZINC DEC BELOW 182 LEVELS FOR TARGET OF 181/180 WITH SL 184 OF LEVELS.

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

MCX Daily Report

03RD DEC 2019

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MCX Report 3 Dec 2019  

Capitalstars MCX report updates. Lust go through it know today's market news.

MCX Report 3 Dec 2019  

Capitalstars MCX report updates. Lust go through it know today's market news.

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