Mcx Daily Report - 24 Oct 2017

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report -24 OCT 2017 News High lights Gold Prices Gain In Asia On Weaker Dollar. Gold prices gained in Asia on Thursday with a weaker dollar aiding buying sentiment in the physical market. Overnight, gold prices were roughly unchanged on Monday as dollar strength continued to weigh on upside momentum in the precious metal. In what was a quiet day for top-tier economic data, gold prices came under pressure on signs that sentiment on the dollar is turning positive after data showed traders continued to unwind their bearish bets on the greenback. Speculators pared net bearish bets on the dollar to their lowest level in more than a month, Commodity Futures Trading Commission data showed on Friday. The precious metal has struggled to pare losses since falling below a key price level of $1300 amid signs of progress on tax reform and growing expectations that the U.S. central bank will hike rates later this year. According to investing.com’s fed rate monitor tool nearly 100% of traders expect the Fed to hike interest rates in December. Copper Price to Break $8,000 in 2022. Goldman raises estimated copper price in 12 months from $5,500 to $7,050, based on weakened US dollar and China’s prospect. It is estimated there will be a 130,000 tonne’s shortage in copper market in 2018. The copper price is estimated to break $8,000 per tonne in 2022. LME Lead Price to Hover at Lows. LME lead will fluctuate at highs between USD 2,460-2,490/mt today, and SHFE 1712 lead will hover between RMB 19,000-19,350/mt, with spot lead prices between RMB 19,750-19,850/mt. Oil prices inch up, support from drop in southern Iraq exports. Oil prices inched up on Tuesday, getting support from a decline in oil exports from OPEC's second-biggest producer Iraq and a projected extended fall in U.S. commercial oil stocks.Iraqi oil exports have fallen more than 200,000 barrels per day (bpd) so far this month, as shipments from both north and south of the country declined. "The market is currently weighing supportive materials more, such as the Kurdistan situation, the slowdown in shale-related (U.S.) rig counts and the possible extension in OPEC (output) cuts," said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting in Tokyo. Crude oil exports through the Iraqi Kurdistan controlled-pipeline to the Turkish port of Ceyhan rose 13 percent to 288,000 barrels per day (bpd) on Monday afternoon, but that was still less than half normal levels due to tensions in the region, a shipping source told Reuters. Iraq could still boost southern exports in the rest of October and plans to do so. Iraqi Oil Minister Jabar al-Luaibi said on Saturday southern exports were increasing by 200,000 bpd to make up for the northern shortfall. U.S. Secretary of State Rex Tillerson urged the Iraqi government and the Kurdistan region on Monday to resolve their conflict over Kurdish self-determination and disputed territories through dialogue.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report - 24 OCT 2017 Precious Metals CS GOLD (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 29850 RESIST 1: 29700 SUP 1: 29400 SUP 2: 29250 WWW.CAPITALSTARS.COM +917316690000 CS SILVER (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 40700 RESIST 1: 40500 SUP1: 39600 SUP2: 39400 WWW.CAPITALSTARS.COM +917316690000 Base Metals CS COPPER (NOV) OVERVIEW: TREND : BULLISH RESIST 2: 470.00 RESIST 1: 467.00 SUP1: 457.00 SUP2: 454.00 WWW.CAPITALSTARS.COM +917316690000 CS NICKEL (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 795.00 RESIST 1: 790.00 SUP1: 758.00 SUP2: 753.00 WWW.CAPITALSTARS.COM +917316690000 CS ZINC (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 213.00 RESIST 1: 211.00 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: 158.00 SUP2: 156.00 WWW.CAPITALSTARS.COM +917316690000 CS ALUMINIUM (OCT) OVERVIEW: TREND : SIDEWAYS 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 : SIDEWAYS RESIST 2: 3470 RESIST 1: 3430 SUP1: 3330 SUP2: 3290 WWW.CAPITALSTARS.COM +917316690000 CS NATURAL GAS (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 201.00 RESIST 1: 198.00 SUP1: 191.00 SUP2: 188.00 WWW.CAPITALSTARS.COM +917316690000

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4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report -24 OCT 2017 Pick for the Day MCX Crude Oil Nov on Monday as seen in the daily chart opened at 3393 levels and day high of 3408 levels. During this period price corrected & made day low of 3372 levels finally closed at 3383 levels. Now, there are chances of further Upside movement technically & fundamentally. ∑ In September OPEC and non-OPEC countries achieved the highest compliance on planned cuts since the deal kicked off in January - at a rate of 120 percent - helping reduce oil stocks further at Organization for Economic Cooperation and Development nations, OPEC said. ∑ Meanwhile U.S. crude inventories likely fell by 2.5 million barrels last week, while gasoline and distillate stockpiles each probably fell by at least 1.5 million barrels, a preliminary Reuters poll showed on Monday ahead of data by the Industry group the American Petroleum Institute later in the day. DAILY RECOMMENDATION: Buy MCX CRUDE OIL NOV AROUND 3370 LEVELS FOR TARGET OF T1 3420/T2 3440 WITH SL 3290 OF LEVELS.

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