Mcx daily report - 8 nov 2017

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report - 08 NOV 2017 News High lights Gold Gains In Asia As Trump Warns North Korea Again "Miscalculation". Gold edged higher in Asia on Wednesday as political risk rose after President Donald Trump in a speech to the South Korean parliament warned North Korea not to make a "miscalculation" in development of its missile and nuclear weapons programs. Overnight, gold prices came under pressure on Tuesday as safe-haven demand fell after concerns faded over political uncertainty in the Middle East while a sharp jump in the dollar added to downside momentum. Gold prices gave up most their gains from Monday’s session as the dollar rose sharply on signs of progress on tax reform and bullish labor market data. The U.S. Labor Department's latest Job Openings and Labor Turnover Survey (JOLTs) report, a measure of labor demand, showed job openings in September improved to about 6.1 million, beating expectations of 6.091 million. The bullish data on job openings came as investor optimism on tax reform edge higher after Republic lawmakers began on Monday revising their proposed overhaul of the U.S. tax system. Gold prices are sensitive to moves higher in the U.S. dollar – A higher dollar makes gold more expensive for holders of foreign currency, thus, reduces demand. Export Quota of Indonesia’s Nickel Mine Released. Ministry of Energy and Mineral Resources of Indonesia released their guiding opinions on export quota. The export quota of nickel ore is 20.4 million ton, and that of bauxite is 14.7 million ton. The quota is usually valid for one year. The analysis team of Commerzbank said nickel export might increase in the following months accordingly. This willoffset concerns of the insufficient supply on the nickel market. China’s Lead-acid Battery Output Rises -9.55% in July. According to data released by State Statistics Bureau, domestic lead-acid battery output during January to July rises -3.13% on yearly basis. There into, output in July rises -9.55%. Oil dips on falling Chinese crude imports; overall market still well supported. Oil markets dipped on Wednesday as Chinese crude imports fell to their lowest level in a year, although traders said that overall markets remained well supported largely due to OPEC-lead supply cuts. Traders said the market was eyeing growing tensions in the Middle East with concern, keeping a cautious tone on trade.China's October oil imports fell sharply from a near record-high of about 9 million barrels per day (bpd) in September to just 7.3 million bpd in October, data from the General Administration of Customs showed on Wednesday. That's their lowest level since October 2016. Despite this, oil markets remain well supported, traders said. This is largely due to an ongoing effort lead by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to withhold supplies in order to prop up prices. With crude still more than 40 percent up since June, oil-consuming industries that benefited from comparatively low prices are now starting to feel the pinch. "2016 was a record year for profits," said Brian Prentice, partner at aviation services firm Cavok.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report -08 NOV 2017 Precious Metals CS GOLD (DEC) OVERVIEW: TREND : SIDEWAYS RESIST 2: 29700 RESIST 1: 29600 SUP 1: 29300 SUP 2: 29200 WWW.CAPITALSTARS.COM +917316690000 CS SILVER (DEC) OVERVIEW: TREND : SIDEWAYS RESIST 2: 40450 RESIST 1: 40300 SUP1: 39300 SUP2: 39150 WWW.CAPITALSTARS.COM +917316690000 Base Metals CS COPPER (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 453.00 RESIST 1: 450.00 SUP1: 440.00 SUP2: 437.00 WWW.CAPITALSTARS.COM +917316690000 CS NICKEL (NOV) OVERVIEW: TREND : SIDEWAYS RESIST 2: 839.00 RESIST 1: 834.00 SUP1: 810.00 SUP2: 805.00 WWW.CAPITALSTARS.COM +917316690000 CS ZINC (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 212.00 RESIST 1: 210.00 SUP1: 205.00 SUP2: 203.00 WWW.CAPITALSTARS.COM +917316690000 CS LEAD (NOV) OVERVIEW: TREND : BULLISH RESIST 2: 167.00 RESIST 1: 165.00 SUP1: 160.00 SUP2: 158.00 WWW.CAPITALSTARS.COM +917316690000 CS ALUMINIUM (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 141.00 RESIST 1: 140.00 SUP1: 137.00 SUP2: 136.00 WWW.CAPITALSTARS.COM +917316690000 Energies CS CRUDE OIL (NOV) OVERVIEW: TREND : BULLISH RESIST 2: 3800 RESIST 1: 3760 SUP1: 3660 SUP2: 3620 WWW.CAPITALSTARS.COM +917316690000 CS NATURAL GAS (NOV) OVERVIEW: TREND : BULLISH RESIST 2: 211.00 RESIST 1: 208.00 SUP1: 201.00 SUP2: 198.00 WWW.CAPITALSTARS.COM +917316690000

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4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report - 08 NOV 2017 Pick for the Day MCX Crude Oil Nov on Tuesday as seen in the daily chart opened at 3711 levels and day high of 3749 levels. During this period price corrected & made day low of 3704 levels finally closed at 3734 levels. Now, there are chances of further Upside movement technically & fundamentally. . ∑ Crude oil prices settled lower on Tuesday after OPEC said it expected a surge in North American shale output to cap demand for the cartel’s crude oil. ∑ Crude oil pared some of Monday’s gains as an Opec report suggested that the recent rally in crude prices – as a result of the output-cut agreement – would encourage North America shale producers to ramp up output, weakening the oil cartel's efforts to rebalance the market. ∑ OPEC in its 2017 World Oil Outlook revised upwards North American shale oil to 5.1 million barrels per day (bpd) from 4.1 million bpd, citing the recent rally in crude prices as one of the catalysts to drive up shale output. The U.S. Energy Information Agency in separate report also revised upwards its estimate for domestic crude oil production. DAILY RECOMMENDATION: Buy MCX CRUDE OIL NOV AROUND 3710 LEVELS FOR TARGET OF T1 3760/T2 3780 WITH SL 3630 OF LEVELS.

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