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Mcx daily report 24 aug

This Document is regarding Daily MCX report.

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Mcx daily report 24 aug

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  1. CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 24 Aug2018 NewsHighlights Gold prices retreated from resistance defining the down trend started inmid-June. Commodity prices turned lower Thursday following the prior sessions’ gains as a recovery in the US Dollar pressured assets denominated in terms of the benchmark unit (as expected). Perennially anti-fiat gold prices appeared to reflect the currency’s recovery most directly while crude oil prices merely stalled having scored the largest daily gain in 2 months Wednesday. The greenback advanced alongside two-year Treasury bond yields as the priced- in 2018 interest rate hike path implied in Fed Funds futures steepened. The move probably marks pre-positioning ahead of a much-anticipated speech from Fed Chair Jerome Powell at the central bank’s Economic Symposium in Jackson Hole, Wyoming onFriday. COPPER is extending its recovery and now it’s in rangebound. LME copper climbed above the daily moving average from a low of $5,901.5/mt on Thursday, with pressure from the five- and 10-day moving averages. The SHFE 1810 contract rose to close at 48,480 yuan/mt overnight. Open interests for the SHFE copper contracts shrank to 587,000 lots. We expect copper prices to trade range bound in the short term. Spot premiums are seen lower at 70-130 yuan/mt today with inflows ofimports. Risk aversion sentiment grew as China’s stainless steelexports. LMEnickeltumbledtoanintradaylowof$13,185/mtbeforeitregainedsomelossesandclosedat $13,240/mt on Thursday. The SHFE 1811 contract fell to a low of 108,760 yuan/mt before it recovered some losses and closed at 109,630 yuan/mt overnight. Risk aversion sentiment grew as China’s stainlesssteelexportsareexpectedtobeaffectedbythenewroundoftradetariffs.Weexpectnickel prices to trade range bound today. LME nickel is likely to hover around $13,200/mt and the SHFE 1811 contract is expected to trade at 108,500-110,000 yuan/mt. Spot prices are seen at 109,000-112,000 yuan/mt. Oil prices rise on Iran sanctions, but U.S.-China row mutestrading. Oil prices rose on Friday as U.S. sanctions on Iran are expected to cut significant volumes of crude from the market, although trading was muted by concerns over the unresolved trade dispute between Washington and Beijing. Traders said the supply versus demand outlook for oil markets was relatively tight because of the looming U.S. sanctions against Iran, which will target oil exports from November. Iran is the third-biggest producer within the Organization of the Petroleum Exporting Countries (OPEC), exporting on average around 2.5 million barrels per day (bpd) of crude and condensate this year, equivalent to around 2.5 percent of global consumption.

  2. CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 24 Aug2018 PreciousMetals CS GOLD (OCT) OVERVIEW: TREND : BEARISH RESIST 2: 29850 RESIST 1: 29750 SUP1:29450 SUP 2:29350 WWW.CAPITALSTARS.COM +917440449744 CS SILVER (SEP) OVERVIEW: TREND : BEARISH RESIST 2: 36850 RESIST 1: 36700 SUP 1: 36300 SUP 2: 36150 WWW.CAPITALSTARS.COM +917440449744 BaseMetals CS COPPER (AUG) OVERVIEW: TREND : BEARISH RESIST2:414.50 RESIST1:410.00 SUP 1: 408.00 SUP 2: 402.00 WWW.CAPITALSTARS.COM +917440449744 CS NICKEL (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2:938.00 RESIST 1:927.00 SUP 1: 922.00 SUP 2: 913.00 WWW.CAPITALSTARS.COM +917440449744 CS ZINC (AUG) OVERVIEW: TREND : BEARISH RESIST2:179.50 RESIST 1:177.50 SUP 1:175.00 SUP 2: 173.00 WWW.CAPITALSTARS.COM +917440449744 CS LEAD (AUG) OVERVIEW: TREND : BEARISH RESIST 2:148.50 RESIST 1:146.00 SUP 1:139.00 SUP 2: 137.50 WWW.CAPITALSTARS.COM +917440449744 CS ALUMINIUM (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 2:148.00 RESIST 1:146.50 SUP 1:140.00 SUP 2:138.50 WWW.CAPITALSTARS.COM+917440449744 Energies CS CRUDE OIL (SEP)OVERVIEW: TREND :BEARISH RESIST 2:4910 RESIST 1:4860 SUP 1:4800 SUP 2: 4750 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (AUG) OVERVIEW: TREND :SIDEWAYS RESIST 2:210.00 RESIST 1:208.50 SUP 1:205.50 SUP 2: 203.00 WWW.CAPITALSTARS.COM +917440449744

  3. CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 24 Aug2018 Pick for theDAY • MCX GOLD AUG on Thursday as seen in the Daily chart opened at 29628 levels and made day Low of 29540 levels. During this period Goldcameupto29680levelsandfinallyclosedat29608levels. • Now, there are chances of down movementtechnically • &fundamentally. • Without any significant growth in demand from any of the markets, gold jewellery exports from SEZ/EPZs have surged by 220 per cent between April and July, while that from DTA is down by 7 per cent. • Import of gold bar too has recorded a huge leap of 450 per cent in July and 302 per cent between April andJuly. DAILY RECOMMENDATION: SELL MCX GOLD OCT BELOW 29608 LEVELS FOR TARGET OF 29550/29500 WITH SL 29700 OF LEVELS.

  4. CapitalStars Financial Research Pvt.,Ltd., 4 SEBI Registration Number:INA000001647 MCXDailyReport 24 Aug2018 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 efforts 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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