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

MCX Daily Report

15TH MAR 2019

News Highlights BULLION - Bullion counter may trade with weak bias but short covering at lower levels can be seen. Gold

can slip lower towards 31700. Silver can take support near 37800 and resistance near 38300. Gold prices edged down on Friday after slipping below the key $1,300 level in the previous session, pressured by improving appetite for risk as British lawmakers voted to seek a delay to the country's exit from the European Union. British lawmakers voted overwhelmingly on Thursday to seek a delay in Britain's exit from the European Union, setting the stage for Prime Minister Theresa May to renew efforts to get her divorce deal approved by parliament next week. A summit to seal a trade deal between U.S. President Donald Trump and Chinese President Xi Jinping will not happen at the end of March as previously discussed because more work is needed in U.S.-China negotiations, Treasury Secretary Steven Mnuchin said on Thursday. The number of Americans filing applications for unemployment benefits increased more than expected last week, suggesting the labor market was slowing, while new home sales fell more than expected in January.

ENERGY- Crude oil may open on sideways path as it may trade in range of 4010-4100 in MCX. Oil prices

were steady on Friday, supported as production cuts led by OPEC and U.S. sanctions against Venezuela and Iran likely created a slight deficit in global supply in the first quarter of 2019. But oil prices have been capped by concerns that an economic slowdown will soon start denting growth in fuel demand. The Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies such as Russia - known as the OPEC+ alliance - pledged to withhold 1.2 million barrels per day (bpd) in crude supply from the start of the year to tighten markets and prop up prices. Meanwhile, U.S. sanctions against Venezuela as well as Iran have further tightened oil markets. With OPEC voluntarily withholding supply and U.S. sanctions preventing Iranian and Venezuelan oil from entering markets, global crude flow data in Refinitiv showed a slight supply deficit likely appeared in the first quarter. Natural gas may remain sideways as it can take support near 195 while taking resistance near 201 in MCX. U.S. natural gas futures edged up on Thursday after the release of a federal report showing the biggest weekly storage draw ever during the month of March.

BASE METAL - Base metals prices may trade with sideways to weak bias. Base metals fell in early trade on Friday, with Shanghai nickel down nearly 2 percent and copper extending losses, as hopes dimmed that the United States and China could reach a deal soon to resolve their long-standing trade dispute. A summit to seal a trade deal between U.S. President Donald Trump and Chinese President Xi Jinping will not happen at the end of March as previously discussed because more work is needed in U.S.-China negotiations, Treasury Secretary Steven Mnuchin said on Thursday Copper may slip lower towards 440 while facing resistance near 453 in MCX. Zinc can take support near 196 while facing resistance near 201. On-warrant stocks of copper, those not earmarked for delivery, in LME-approved warehouses jumped 34,900 tonnes to 66,325 tonnes as of Thursday. The premium of cash copper over the three-month LME contract eased to $20 a tonne from a discount of $70 last week, indicating worries over tight supply were easing.

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

15TH MAR 2019

MCX Daily Report Precious Metals

TREND : BEARISH SUP 1: 31700 SUP 2: 31500 WWW.CAPITALSTARS.COM +919977499927

WWW.CAPITALSTARS.COM +919977499927

Base Metals CS COPPER (APR) OVERVIEW: TREND : BEARISH RESIST 2: 456.00 RESIST 1: 450.00 SUP 1: 441.00 SUP 2: 438.00

RESIST 2: 923.00 RESIST 1: 908.00 SUP 1: 880.00 SUP 2: 870.00

CS ZINC (MAR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 202.00 RESIST 1: 200.00 SUP 1: 197.00 SUP 2: 195.00

CS LEAD (MAR) OVERVIEW: RESIST 2: 148.00 RESIST 1: 147.00 SUP 1: 145.00 SUP 2: 144.00

CS ALUMINIUM (MAR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 148.00 RESIST 1: 147.00 SUP 1: 145.00 SUP 2: 144.00 WWW.CAPITALSTARS.COM +919977499927

Energy TREND : SIDEWAYS

TREND : SIDEWAYS

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

15 MCX Daily Report Pick for the DAY

TH

MAR 2019

MCX LEAD MAR on THRUSDAY as seen in the Daily chart opened at 147.05 levels and made day low of 145.50 Levels. During this period LEAD MAR High is 147.55 levels and finally closed at 145.60 levels. Now, there are chances of down movement technically & fundamentally.

DAILY RECOMMENDATION: SELL MCX LEAD MAR BELOW 145.50 LEVELS FOR TARGET OF 144.50/143 WITH SL 147 OF LEVELS.

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

15TH MAR 2019

MCX Daily Report

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Daily Mcx Reports 15 March 2019  

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Daily Mcx Reports 15 March 2019  

Capitalstars, financial research private limited is a SEBI Registered, provide Stock Tips,Share Market Tips , commodity & currency tips....

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