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Mcx daily report 23 nov

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Mcx daily report 23 nov

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  1. CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 23 NOV2018 NewsHighlights Gold heading back towards 2-week tops near$1230. Gold (futures on Comex) found buyers in Asia once again near the 1227 level, now heading back towards the two-week tops of 1229.70 reached a day before. The yellow metal remains on the front foot so far this Friday, as the US dollar extends its softness across the board into a third straight session, as markets remain wary over the Fed’s rate hike outlook amid mounting concerns about a potential global slowdown. The US dollar index trades weaker near 96.50 level, looking to test Thursday’s low at 96.32. Moreover, gold prices derive support from the mixed tone seen on the Asian equities, as the Chinese stocks get sold-of into looming US-China trade concerns and Chinese growth concerns. However, it remains to be seen if the bullion can sustain the upbeat momentum, as positive Treasury yields combined with sowing volumes could limit furtherupside. Development of China-US trade conflict will remain in focus in the nearrun. Rising longs buoyed prices of LME copper and the SHFE contracts on a softened US dollar. LMEcopperroseabovethefive-daymovingaverageandclosedatthehighestovernightat $6,267/mt. The SHFE 1901 contract ended three consecutive trading days of decline as it closedat49,660yuan/mtafterrisingtoahighof49,680yuan/mt.Weexpectittotradeat 49,400-49,800 yuan/mt today with LME copper trading at $6,220-6,270/mt. Tight supplies in domestic market will keep spot premiums at 50-120yuan/mt. Refined nickel inventories in east China had piled up for three consecutiveweeks. Macro pessimism continued to lower LME nickel and the SHFE 1901 contract overnight, by 0.63% and 1.14%, respectively. Weak fundamentals failed to provide the contract efective supportatthe90,000yuan/mtlevel.WeexpectLMEnickeltohoverweaklyaround $10,900/mt, with the 1901 contract trading at 89,500-91,000 yuan/mt today. Spot prices are seen at 90,000-101,500 yuan/mt today. Oil falls on supply glut fears, but expected OPEC cuts provide somesupport. Oil prices renewed their fall on Friday, pressured by concerns that producers are churning out more oil than the world needs amid a bleak economic outlook. The divergence between U.S. and international crude comes as surging North American supply is clogging the system and depressing prices there, while global markets are somewhat tighter - in part because of reduced exports from Iran due to newly imposed U.S. sanctions. However, global oil supply has surged this year, with the top-three producers of the United States, Russia and Saudi Arabia pumping out more than a third of global consumption, which stands around 100 million barrels per day (bpd). High production comes as the demand outlook weakens on the back of a global economic slowdown. prices have plunged by around 30 percent since their last peaks in early October, as global production started to exceed consumption in the fourth quarter of this year, ending a period of undersupply that started in the first quarter of 2017, according to data in RefinitivEikon.

  2. CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 23 NOV2018 PreciousMetals CS GOLD (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 31000 RESIST 1: 30900 SUP1:30500 SUP 2:30400 WWW.CAPITALSTARS.COM +919977499927 CS SILVER (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 37100 RESIST 1: 36900 SUP 1: 36400 SUP 2: 36200 WWW.CAPITALSTARS.COM +919977499927 BaseMetals CS COPPER (NOV) OVERVIEW: TREND : BEARISH RESIST2:444.00 RESIST1:440.00 SUP 1: 436.00 SUP 2: 430.00 WWW.CAPITALSTARS.COM +919977499927 CS NICKEL (NOV) OVERVIEW: TREND : BEARISH RESIST 2:790.00 RESIST 1:780.00 SUP 1: 768.00 SUP 2: 760.00 WWW.CAPITALSTARS.COM +919977499927 CS ZINC (NOV) OVERVIEW: TREND : SIDEWAYS RESIST2:192.00 RESIST1:190.00 SUP 1:188.00 SUP 2: 186.00 WWW.CAPITALSTARS.COM +919977499927 CS LEAD (NOV) OVERVIEW: TREND : BEARISH RESIST 2:143.00 RESIST 1:141.00 SUP 1:138.00 SUP 2: 136.00 WWW.CAPITALSTARS.COM +919977499927 CS ALUMINIUM (NOV)OVERVIEW: TREND :BEARISH RESIST 2:139.00 RESIST 1:138.00 SUP 1:136.00 SUP 2:135.00 WWW.CAPITALSTARS.COM+919977499927 Energies CS CRUDE OIL (DEC)OVERVIEW: TREND :BEARISH RESIST 2:3900 RESIST 1:3850 SUP 1:3800 SUP 2: 3750 WWW.CAPITALSTARS.COM +919977499927 CS NATURAL GAS (NOV)OVERVIEW: TREND :BULLISH RESIST 2:310.00 RESIST 1:307 SUP 1:303.00 SUP 2: 297.00 WWW.CAPITALSTARS.COM +919977499927

  3. CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 23 NOV2018 Pick for theDAY • MCX Crude on Friday as seen in the Daily chart opened at 3892 levels and made day Low of 3810 Levels. During this period Crude High is 3903 levels and finally closed at 3823 levels. Now, there are chances of down movement technically & fundamentally. • Oil prices renewed their fall on Friday, pressured by concerns that producers are churning out more oil than the world needs amid a bleak economicoutlook. • The divergence between U.S. and international crude comes as surging North American supply is clogging the system and depressingpricesthere,whileglobalmarketsaresomewhattighter • - in part because of reduced exports from Iran due to newly imposed U.S. sanctions. • DAILY RECOMMENDATION: SELL MCX CRUDE DEC BELOW 3825 LEVELS FOR TARGET OF 3805/3780 WITH SL 3851 OF LEVELS.

  4. CapitalStars Financial Research Pvt.,Ltd., 4 SEBI Registration Number:INA000001647 MCXDailyReport 23 NOV2018 Disclaimer The information and views in this report & all the service we provide are believed to be reliable, but we do not accept any responsibility for errors of fact or opinion. Investors have the right to choose the product/s that suits them the most. Sincere eforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. My research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financialadviser. Capital Stars shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of regulators. The price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Investment & Trading in Securities Markets are always subjected to market risk. Capitalstars Financial Research Private Ltd., Reserves allRights. CONTACTUS BRANCHOFFICE Capitalstars Financial Research Private Limited Forex Trading Tips Stock Market Tips Share TipsExpert PLOT NO.32, MECHANIC NAGAR EXTENSION, IDA SCHEME NO.54, VIJAYNAGARINDORE REGISTEREDOFFICE PLOT NO.12, SCHEME NO.78 PART-II, VIJAY NAGAR,INDORE Email :-backoffice@capiltalstars.in

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