Mcx Daily Report - 25 Oct 2017

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report - 25 OCT 2017 News High lights Gold Prices Dip In Asia On Stronger Dollar, Trump Fed Choice Awaited. Gold prices dipped in Asia on Wednesday with a stronger dollar weighing and markets awaiting President Donald Trump's selection for the new Fed chief. Gold prices came under pressure as the dollar edged higher on signs of progress toward pro-growth tax reform and data showing bullish manufacturing and services growth. House Republicans aim to introduce their tax bill on Nov. 1, CNBC reported citing a Capitol Hill source, fuelling investor expectations that tax reform is edging closer to fruition. News on the progress of tax reform came just hours after investor expectations of solid quarterly economic growth received a boost on the back of data showing manufacturing and services activity topped economists’ forecasts. Gold prices have consolidated in recent sessions as traders weigh the prospect of further downside amid uncertainty over the future path of interest rates and tax cuts. Copper settled up as support seen after dollar dipped and investors remained upbeat about global growth prospects. Copper hit a one-week high on Tuesday while other metals also gained as the dollar dipped and investors remained upbeat about global growth prospects, though risks of a slowdown remained, especially in top consumer China. The dollar edged down versus a currency basket while Asian shares held near recent decade highs. China stocks inched up as Beijing’s ruling Communist Party moved to the final stages of a twice-adecade congress. Zinc prices gained on worries that winter production cuts are tightening supplies of the metal. Zinc on MCX settled up 1.52% at 210.95 on fresh buying as support seen on the speculation that the winter production cuts will support the prices for the remainder of the year. Zinc prices rose since this week started after data showed output in China slipped in September, highlighting worries that winter production cuts are tightening supplies of metals. Oil hovers near four-week high on Saudi pledge to end glut. Oil prices were largely steady on Wednesday, hovering near a four-week high hit a day earlier after top exporter Saudi Arabia said it was determined to end a supply glut.Saudi Arabia's Energy Minister Khalid al-Falih said on Wednesday the focus remained on reducing oil stocks in industrialized countries to their five-year average and raised the prospect of prolonged output restraint once an OPEC-led supply- cutting pact ends. The pact runs to March 2018, but they are considering extending it. "OPEC is holding a line on the production cuts," said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo. "Even though shale (output) is now rebounding, the stocks are drawing, and now we're heading into the winter season, so the market is strong."The U.S. Energy Information Administration will release official government inventory data later on Wednesday.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report - 25 OCT 2017 Precious Metals CS GOLD (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 29750 RESIST 1: 29600 SUP 1: 29300 SUP 2: 29150 WWW.CAPITALSTARS.COM +917316690000 CS SILVER (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 40400 RESIST 1: 40100 SUP1: 39300 SUP2: 39000 WWW.CAPITALSTARS.COM +917316690000 Base Metals CS COPPER (NOV) OVERVIEW: TREND : BULLISH RESIST 2: 468.00 RESIST 1: 465.00 SUP1: 455.00 SUP2: 452.00 WWW.CAPITALSTARS.COM +917316690000 CS NICKEL (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 795.00 RESIST 1: 790.00 SUP1: 765.00 SUP2: 760.00 WWW.CAPITALSTARS.COM +917316690000 CS ZINC (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 214.00 RESIST 1: 212.00 SUP1: 206.00 SUP2: 204.00 WWW.CAPITALSTARS.COM +917316690000 CS LEAD (OCT) OVERVIEW: TREND : BEARISH RESIST 2: 166.00 RESIST 1: 164.00 SUP1: 157.00 SUP2: 155.00 WWW.CAPITALSTARS.COM +917316690000 CS ALUMINIUM (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 143.00 RESIST 1: 141.50 SUP1: 138.50 SUP2: 137.00 WWW.CAPITALSTARS.COM +917316690000 Energies CS CRUDE OIL (NOV) OVERVIEW: TREND : BULLISH RESIST 2: 3510 RESIST 1: 3470 SUP1: 3380 SUP2: 3340 WWW.CAPITALSTARS.COM +917316690000 CS NATURAL GAS (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 204.00 RESIST 1: 200.00 SUP1: 193.00 SUP2: 189.00 WWW.CAPITALSTARS.COM +917316690000

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4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report - 25 OCT 2017 Pick for the Day MCX Crude Oil Nov on Tuesday as seen in the daily chart opened at 3385 levels and day high of 3435 levels. During this period price corrected & made day low of 3361 levels finally closed at 3431 levels. Now, there are chances of further Upside movement technically & fundamentally. . ∑ In May, Opec producers agreed to extend production cuts for a period of nine months until March, but stuck to production cuts of 1.2 million bpd agreed in November last year. ∑ The ongoing fluctuation of output in Iraq, meanwhile, continued to concern investors as crude supplies through Iraq's northern pipeline to Ceyhan in Turkey rose further. Pumping along the pipeline rose to 300,000 barrels per day (bpd) on Tuesday, Reuters reported, citing a shipping source. ∑ The uptick in political tensions in Northern Iraq follows conflict between Iraqi and Kurdish forces last week, as Kurdish forces retreated from Northern parts of Iraq, ceding control of two major oilfields. DAILY RECOMMENDATION: Buy MCX CRUDE OIL NOV AROUND 3420 LEVELS FOR TARGET OF T1 3470/T2 3510 WITH SL 3340 OF LEVELS.

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