MCX Daily Report - 6 Oct 2017

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report - 06 OCT 2017 News High lights Gold Prices Down In Asia As Market Looks Ahead To US Nonfarm Payrolls. Gold prices dipped in Asia on Friday as investors awaited nonfarm payrolls in the U.S. even thought he data will likely be widely skewed by the effects of hurricanes in Texas and Florida. Overnight, gold prices traded below breakeven on Thursday, as a raft of better-than expected economic data pointed to solid U.S. economic growth underpinning a move higher in the dollar. The duo of reports come ahead of a nonfarm payrolls update due Friday, expected to show the U.S. economy created 90,000 jobs in September. “Gold’s bearish tones are largely due to the tightening of monetary policy,” said Adrienne Murphy, chief market analyst at AvaTrade. “A rise in the cost of borrowing, as well as tackling the balance sheet, will put a huge strain on the price of the precious metal.” 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. Base metals prices mostly upbeat; copper, zinc in the driving seat. Base metals prices on the London Metal Exchange were broadly higher during the Asian morning trading session on Friday October 6, with copper and zinc sustaining upward momentum.“The red metal rallied on news that an earthquake in Chile could disrupt supply. While the impact looks minimal to copper assets, it triggered some short covering as it broke through some key technical levels,” ANZ Research said on Friday. Zinc prices also continued their climb this morning, finding support amid tight stock levels. China’s crackdown on pollution has prevented over 1,000 zinc mines across the country from ramping up production, stopping miners from cashing in on the metal’s recent price rally. China’s mined zinc output declined 7.4% or 185,100 tonnes year on year to 2.33 million tonnes in the first half of 2017, according to World Bureau of Metal Statistics. Oil markets wary as another tropical storm heads for Gulf of Mexico. Oil markets were cautious on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday. But the prospect of extended oil production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia helped support prices. Activity was subdued due to the Golden Week holiday in China and because traders were monitoring tropical storm Nate, which has triggered U.S. Gulf production and refinery closures just weeks after several hurricanes pummeled the region. Traders said they were closing positions ahead of the expected arrival of the storm as they did not want to be caught with open trades over the weekend. The Louisiana Offshore Oil Port, one of the most important fuel handling facilities in the Gulf of Mexico, said on Friday that it had suspended vessel offloading operations.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report -06 OCT 2017 Precious Metals CS GOLD (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 29700 RESIST 1: 29500 SUP 1: 29200 SUP 2: 29000 TREND : SIDEWAYS RESIST 2: 448.00 RESIST 1: 445.00 RESIST 2: 713.00 RESIST 1: 708.00 CS ZINC (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 221.00 RESIST 1: 219.00 CS LEAD (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 175.00 RESIST 1: 173.00 CS ALUMINIUM (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 143.00 RESIST 1: 142.00 SUP1: 139.00 SUP2: 138.00 WWW.CAPITALSTARS.COM +917316690000 Energies CS CRUDE OIL (OCT) OVERVIEW: TREND : SIDEWAYS CS NATURAL GAS (OCT) OVERVIEW: TREND : BEARISH RESIST 2: 198.00 RESIST 1: 195.00

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4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report - 06 OCT 2017 Pick for the Day MCX Crude Oil Oct on Thursday as seen in the daily chart opened at 3260 levels and day high of 3340 levels. During this period price corrected & made day low of 3255 levels finally closed at 3313 levels. Now, there are chances of further sideways movement technically & fundamentally. ∑ Saudi Arabia made no firm pledge to extend a deal between OPEC, Russia and other producers on cutting supplies but said it was "flexible" regarding suggestions to prolong the pact until the end of 2018. ∑ A deal to cut around 1.8 million bpd in production has been in place since January and is due to expire at end-March 2018. With the prospect of extended cuts, analysts were raising price forecasts. DAILY RECOMMENDATION: Buy MCX CRUDE OIL OCT AROUND 3300 LEVELS FOR TARGET OF T1 3350/T2 3370 WITH SL 3220 OF LEVELS.

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