Mcx daily report 25 sept

1. GoldPricesLookto Fed PolicyMeetingforRangeBreakCatalyst. Gold pricescontinuedtoechoswingsintheUSDollar,withan inconclusiveMondaysessionforthelatterechoedin the former. On balance, lasting direction may not emerge until after Wednesday’s FOMC monetary policy announcement. In shaping the outlook for prevailing yields and the greenback, it will speak directly to the relative appeal of non-interest-bearing and anti-fiat assets epitomized by the yellow metal. Gold prices remain confined to a choppy range below the August 28 high at 1214.30. A daily close above that and falling trend resistance at 1220.00 targets opens the door for another challenge of the 1235.24-41.64 area. Alternatively, a break below the range floorat1183.28–markedbythe August24low–targetsthe swingbottomat 1160.37. The USisonthecuspofimplementingtariffsof10%on $200billionworthofChinesegoods. While LME copper came off from earlier highs, it still stood above the 60-day moving average overnight. Global visible inventories extended their declines last week with SHFE stocks down 23,500 mt to 111,000 mt. Such low inventories could provide some support to copper prices. The SHFE 1811 contract is likely to pull back in the short termafteritbrokethroughtheupperBollingerbandonFriday. Spotpremiumsare seenat80-130yuan/mt. Growingsuppliesamidanopenimportarbitragewindow. LME nickel plunged to $12,780/mt overnight before it hovered around $12,825/mt. We expect a weak performance for the SHFE 1811 contract today given its weak LME counterpart and growing supplies amid an open import arbitrage window. LME nickel is likely to hover around $12,850/mt today; the SHFE 1811 contract is likely to trade at 103,000-104,500yuan/mtwithspotpricesat103,500-110,000yuan/mt. Oilrisestowithin4-yearhighasproducersresistoutputincreasetooffsetIransanctions. Crude Oil benchmark Brent rose for a second day on Tuesday, remaining within range of a four-year high reached during the previous session. Looming U.S. sanctions against Iran and the unwillingness or inability of the Organization of the Petroleum Exporting Countries (OPEC) and top oil producer Russia to raise output to offset the loss of Iranian supply have spurred prices higher. The United States from Nov. 4 will target Iran's oil exports with sanctions, and Washington is putting pressure on governments and companies around the world to fall in line and cut purchases from Tehran. While Britain, China, France, Germany, Russia and Iran on Tuesday said they were determined to develop payment mechanisms to continue trading despite the sanctions by the United States, most analysts expect Washington's actions to knock between 1 million and 1.5 million barrels per day (bpd) of crude oil supplies out of markets. U.S. President Donald Trump has demanded that OPEC and Russia increase their supplies tomakeupfortheexpectedfallinIranianexports.Iranisthethird-largestproducerinOPEC.

2. CapitalStars Financial Research Pvt.,Ltd., 2 SEBI Registration Number: INA000001647 MCXDailyReport 25 Sep2018 CS ALUMINIUM(SEP) OVERVIEW: TREND : SIDEWAYS RESIST 2:151.00 RESIST 1:149.50 SUP 1:148.00 SUP 2:146.50 WWW.CAPITALSTARS.COM+917440449744

3. CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number: INA000001647 MCXDailyReport 25 Sep2018 Pick for theDAY • MCX CRUDE OCT on Monday as seen in the Daily chart opened at 5150 levels and made day High of 5307 levels. During this period Crude low is 5150 levels and finally closed at 5273levels. Now, there are chances of up movement technically & fundamentally. • Crude Oil benchmark Brent rose for a second day on Tuesday, remainingwithin range of a four-year high reached during theprevious session • LoomingU.S. sanctions against Iran and the unwillingness or inability of the Organization of the Petroleum Exporting Countries (OPEC) and top oil producer RussiatoraiseoutputtooffsetthelossofIraniansupplyhavespurredpriceshigher. DAILY RECOMMENDATION: BUY MCX CRUDE OCT ABOVE5270 LEVELS FOR TARGET OF 5310/5350 WITH SL 5220 OFLEVELS.

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