Mcx Daily Report - 17 Nov 2017

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report - 17 NOV 2017 News High lights Gold Gains In Asia As US Tax Cut Views Stoke Inflation Concerns. Gold prices edged up in Asia as U.S. tax cuts move closer to passage, raising inflation concerns for some investors. Overnight, gold prices were roughly unchanged on Thursday as the recent trend of flattening yields faded but downside momentum was capped by dollar weakness on the back of soft economic data. Ahead of the GOP House vote on tax reform, gold prices traded in a narrow range on Thursday as gains amid a falling dollar were capped by an uptick in treasury yields. Traders, however, shifted attention to tax reform as the House is poised to pass a massive overhaul of the U.S. tax code on Thursday as Republicans attempt to push through tax reform before year-end. Uncertainty over the outcome of tax reform has renewed investor appetite for safe-haven gold, as data showed traders increase their bets on the precious metal last week. Gold is sensitive to moves higher in both bond yields and the U.S. dollar – A stronger dollar makes gold more expensive for holders of foreign currency while a rise in U.S. rates, lift the opportunity cost of holding non-yielding assets such as bullion. Deutsche Bank Raises Zinc Price Forecast. Liam Fitzpatrick, analyst of Deutsche Bank writes in a report, saying the estimated short supply in market will last to 2020. The zinc price forecast in 2018 is raised by 8%. In 2019 the estimated price is raised by 11%. Nickel Mine Inventory in Lanshan Port. According to SMM, the nickel mine inventory at Lanshan Port is 1.79 million wet tons, 60,000 wet tons less than last Friday. Two cargos of shipment are being discharged. Three cargos are expected to arrive next week. Crude Oil Mixed In Asia As US Benchmark Gains Ahead Of Rig Count Data. Crude oil prices were narrowly mixed on Friday as investors looked ahead to weekly US rig count figures to set the tone.Overnight, crude oil prices settled lower on Thursday as investors fretted over a potential uptick in global supply amid reports that Turkey and Iraq discussed resuming exports from the Kirkuk-Ceyhan pipeline. A discussion between Iraq and Turkey on resuming Kirkuk oil export from the Ceyhan pipeline sparked fears of oversupply as many said a possible uptick in exports would forced OPEC to rein in production. “The priority is to resume oil exports from Kirkuk through the Iraqi-Turkish pipeline once it has been rehabilitated or replaced by a new one,” Iraq’s Oil Minister Jabbar al-Luaibi said. That added to recent fears that rising U.S. production would dampened the impact of Opec’s production cuts, which so far are widely believed to be moving oil markets closer to rebalancing. Data pointing to rising U.S. output comes ahead of an OPEC meeting on Nov. 30 in Vienna, where it is expected the oil-cartel will extend its output- cut agreement beyond the March 2018 deadline. 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.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report - 17 NOV 2017 Precious Metals CS GOLD (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 29650 RESIST 1: 29550 SUP 1: 29300 SUP 2: 29200 WWW.CAPITALSTARS.COM +917316690000 CS SILVER (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 40150 RESIST 1: 40000 SUP 1: 39300 SUP 2: 39150 WWW.CAPITALSTARS.COM +917316690000 Base Metals CS COPPER (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 445.00 RESIST 1: 442.00 SUP 1: 433.00 SUP 2: 430.00 WWW.CAPITALSTARS.COM +917316690000 CS NICKEL (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 760.00 RESIST 1: 755.00 SUP 1: 725.00 SUP 2: 720.00 WWW.CAPITALSTARS.COM +917316690000 CS ZINC (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 211.00 RESIST 1: 209.00 SUP 1: 204.00 SUP 2: 202.00 WWW.CAPITALSTARS.COM +917316690000 CS LEAD (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 160.00 RESIST 1: 158.00 SUP 1: 154.00 SUP 2: 152.00 WWW.CAPITALSTARS.COM +917316690000 CS ALUMINIUM (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 139.00 RESIST 1: 138.00 SUP 1: 135.00 SUP 2: 134.00 WWW.CAPITALSTARS.COM +917316690000 Energies CS CRUDE OIL (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 3700 RESIST 1: 3660 SUP 1: 3550 SUP 2: 3510 WWW.CAPITALSTARS.COM +917316690000 CS NATURAL GAS (NOV) OVERVIEW: TREND : BEARISH RESIST 2: 206.00 RESIST 1: 203.00 SUP 1: 196.00 SUP 2: 193.00 WWW.CAPITALSTARS.COM +917316690000

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4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report - 17 NOV 2017 Pick for the Day MCX Crude Oil Dec on Thursday as seen in the daily chart opened at 3680 levels and day high of 3680 levels. During this period price corrected & made day low of 3608 levels finally closed at 3627 levels. Now, there are chances of further Downside movement technically & fundamentally. . ∑ OPEC's main obstacle in tightening the market is the United States, where crude oil production hit a record of 9.65 million barrels per day (bpd) this month, meaning output has risen by almost 15 percent since their most recent low in mid-2016. ∑ Traders said they were looking for a weekly U.S. drilling report published by oil services firm Baker Hughes for market guidance. "Tonight's Baker Hughes oil rig count will give another update on the near-term U.S. supply picture," said Stephen Innes, head of Asia/Pacific trading at futures brokerage OANDA. DAILY RECOMMENDATION: Sell MCX CRUDE OIL DEC AROUND 3630 LEVELS FOR TARGET OF T1 3580/ T2 3550 WITH SL 3710 OF LEVELS.

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