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MCX Daily Report -14 FEB 2018 News High lights

Gold Prices Rise To Hit One-Week High; All Eyes on U.S. Inflation. Gold prices rose on Wednesday, but investors remain cautious ahead of today’s U.S. inflation data and clues on the pace of future interest rate hikes. The U.S. Dollar Index that tracks the dollar against a basket of currencies was down 0.11% to 89.60, but gold prices are likely to be range bound before the release of U.S. inflation data. Gold is sensitive to moves in both U.S. rates and the dollar. A weaker dollar makes gold less expensive for holders of foreign currency, while a rise in U.S. rates lifts the opportunity cost of holding non-yielding assets such as bullion. Asian equities were mixed in Wednesday, with Hang Seng and KOSPI gaining in the morning trading session but Nikkei, ASX, Shanghai Composite and Shenzhen Component traded in the red. Japan took centre stage in the region as the country’s 4Q GDP missed estimate and grew 0.5% vs the expected 1%. Aluminium inventory to climb further post-CNY. China’s aluminium inventory after Chinese New Year may continue to go up to 2.1 million mt and the price of the lightweight metal is set to trade in a wider range, SMM believes. Earlier this week, SMM data showed that the country’s aluminium inventory hit a record high at 1.81 million mt due to weak consumption ahead of the week-long holiday. We believe the increase has been seasonal, and this has contributed to the decline in SHFE aluminium prices since the start of the year. Flash : Zinc inventory to rise amid CNY. SMM expects zinc social inventory in Shanghai, Guangdong and Tianjin to hit 200,000 mt after Chinese New Year, up by at least 20,000-30,000 mt during the week-long holiday. Production at smelters and deliveries remain normal but trading was muted, SMM learned. Oil Prices Flat In Asia Morning As Traders Eye Mixed Cues. Oil prices were mostly flat Wednesday morning in Asia, with traders in the region reacting to mixed cues from data that suggests demand will increase this year but so will supply.A stronger U.S. dollar, faster-than-anticipated U.S. production and a surge in demand from China have supported oil prices over the last week but oil remains well off recent highs, likely due to lingering concerns of oversupply. Brent started February at $69.65 and WTI started at $65.80. On Tuesday, International Energy Agency (IEA) raised both its forecast for oil demand this year by 7.7% but also warned that production is rising, particularly in the U.S. and that could put downward pressure on oil. The IEA expects global demand to increase by 1.4 million barrels per day (bpd) through 2018.

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

MCX Daily Report - 14 FEB 2018 Precious Metals CS GOLD (APR) OVERVIEW: TREND : BULLISH RESIST 2: 30600 RESIST 1: 30500 SUP 1: 30100 SUP 2: 30000 WWW.CAPITALSTARS.COM +917316690000

CS SILVER (MAR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 38900 RESIST 1: 38700 SUP 1: 38000 SUP 2: 37800 WWW.CAPITALSTARS.COM +917316690000

Base Metals CS COPPER (FEB) OVERVIEW: TREND : SIDEWAYS RESIST 2: 454.00 RESIST 1: 452.00 SUP 1: 443.00 SUP 2: 441.00 WWW.CAPITALSTARS.COM +917316690000

CS NICKEL (FEB) OVERVIEW: TREND : SIDEWAYS RESIST 2: 880.00 RESIST 1: 875.00 SUP 1: 850.00 SUP 2: 845.00 WWW.CAPITALSTARS.COM +917316690000

CS ZINC (FEB) OVERVIEW: TREND : SIDEWAYS RESIST 2: 228.00 RESIST 1: 226.00 SUP 1: 221.00 SUP 2: 219.00 WWW.CAPITALSTARS.COM +917316690000

CS LEAD (FEB) OVERVIEW: TREND : SIDEWAYS RESIST 2: 167.00 RESIST 1: 166.00 SUP 1: 162.00 SUP 2: 161.00 WWW.CAPITALSTARS.COM +917316690000

CS ALUMINIUM (FEB) OVERVIEW: TREND : SIDEWAYS RESIST 2: 140.00 RESIST 1: 138.50 SUP 1: 135.50 SUP 2: 134.00 WWW.CAPITALSTARS.COM +917316690000

Energies CS CRUDE OIL (FEB) OVERVIEW: TREND : BEARISH RESIST 2:3880 RESIST 1: 3840 SUP 1: 3750 SUP 2: 3710 WWW.CAPITALSTARS.COM +917316690000

CS NATURAL GAS (FEB) OVERVIEW: TREND : BEARISH RESIST 2: 176.00 RESIST 1: 173.00 SUP 1: 164.00 SUP 2: 161.00 WWW.CAPITALSTARS.COM +917316690000

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

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

MCX Daily Report -14 FEB 2018 Pick for the Day

MCX Crude Oil Feb on Tuesday as seen in the daily chart opened at 3833 levels and day high of 3833 levels. During this period price corrected & made day low of 3753 levels finally closed at 3813 levels. Now, there are chances of further downside movement technically & fundamentally.

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 Strong global economic fundamentals may also be supporting oil prices, or at least preventing further drops. Japan reported Wednesday an eighth consecutive quarter of growth, even though the expansion there slowed in the quarter to December.  Demand from China is also increasing with oil exports from the second largest economy topping imports from the US. Next month, China has plans to launch yuan-denominated oil futures on the Shanghai International Energy Exchange. The oil futures would be launched March 26.

DAILY RECOMMENDATION: SELL MCX CRUDE OIL FEB AROUND 3820 LEVELS FOR TARGET OF T1 3770/ T2 3750 WITH SL 3940 OF LEVELS.

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

MCX Daily Report -14 FEB 2018

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Mcx daily report 14 feb 2018  

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Mcx daily report 14 feb 2018  

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