1 / 6

Mcx daily report 5 sept

This document is all about to provide daily Mcx Report.

PurviMehta
Download Presentation

Mcx daily report 5 sept

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 05 Sep2018 NewsHighlights Gold review: Greeenback remains the focalpoint. The metal's biggest nemesis - the US dollar - picked up a bid yesterday, possibly due to a rise in the 10-year treasury yield to a three-week high of 2.90 percent. The USD exchange rate, as represented by the dollar index, clockeda 14-day high of 95.74 yesterday, and was last seen trading at 95.29. The pullback from the highs seen yesterday has likely helped the yellow metal recover from $1,190 to $1,194. The data, due for release this Friday, is expected to show the average hourly earnings rose 2.8 percent year-on-year in August, following a 2.7 percent rise inJuly. Market worries over US-Sino trade conflicts and a stronger US dollar accounted for the losses. As the US dollar gained on support from strong US ISM manufacturing data, the SHFE 1811 contract lost 650 yuan/mt to close at 46,940 yuan/mt. LME copper slumped to test support at the $5,800/mt level, and dipped to approach the Bollinger lower band. Market worries over US-Sino trade conflicts and a stronger US dollar accounted for the losses. With potential fresh tariffs from the US on $200 billion worth of Chinese goods, longs should remain cautious when they enter the market today. Spot premiums are likely at 150-200 yuan/mt today. Market concerns over a trade war and a surge in supplies also weighed on thecontract. LME nickel slumped to a low of $12,375/mt as the US dollar gained. It closed at $12,490/mt and LME stock lost 510 mt to 237,984 mt. The SHFE 1811 contract received support at the 102,000 yuan/mt level after it tumbled to a low of 102,010 yuan/mt as shorts added. Market concerns over a trade war and a surge in supplies also weighed on the contract. We expect LME nickel to hover weakly around $12,500/mt, and the SHFE contract at 102,000-103,500 yuan/mt today. Spot prices are set at 102,500-108,000yuan/mt. Oil dips as U.S. storm threat eases; Iran sanctionsloom. Oil prices fell on Wednesday, partly reversing a strong jump from the previous day, as the impact of a tropical storm on U.S. Gulf coast production was not as strong as initially expected. Prices jumped the previous day as dozens of U.S. oil and gas platforms in the Gulf of Mexico were shut in anticipation of tropical storm Gordon hitting the region. But the storm was shifting eastward late on Tuesday, reducing its threat to producers on the western side of the Gulf and most Gulf Coast refineries. Innes, head of trading for Asia/Pacific at futures brokerage OANDA, said many crude futures traders were "caught long and wrong over the past 24 hours due to tropical storm buying frenzy", adding that "prices pulled back considerably as the magnitude of the storm suggests production losses will belimited."

  2. CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 05 Sep2018 PreciousMetals CS GOLD (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 30550 RESIST 1: 30450 SUP1:30050 SUP 2:29900 WWW.CAPITALSTARS.COM +917440449744 CS SILVER (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 37500 RESIST 1: 37200 SUP 1: 36700 SUP 2: 36500 WWW.CAPITALSTARS.COM +917440449744 BaseMetals CS COPPER (NOV) OVERVIEW: TREND : SIDEWAYS RESIST2:425.00 RESIST1:420.00 SUP 1: 415.00 SUP 2: 411.00 WWW.CAPITALSTARS.COM +917440449744 CS NICKEL (SEP) OVERVIEW: TREND : BEARISH RESIST 2:918.00 RESIST 1:910.00 SUP 1: 880.00 SUP 2: 875.00 WWW.CAPITALSTARS.COM +917440449744 CS ZINC (SEP) OVERVIEW: TREND : BEARISH RESIST2:180.00 RESIST 1:177.00 SUP 1:173.00 SUP 2: 171.00 WWW.CAPITALSTARS.COM +917440449744 CS LEAD (SEP) OVERVIEW: TREND : SIDEWAYS RESIST 2:153.00 RESIST 1:151.00 SUP 1:148.00 SUP 2: 146.00 WWW.CAPITALSTARS.COM +917440449744 CS ALUMINIUM (SEP)OVERVIEW: TREND :BULLISH RESIST 2:153.00 RESIST 1:151.00 SUP 1:146.00 SUP 2:144.50 WWW.CAPITALSTARS.COM+917440449744 Energies CS CRUDE OIL (SEP)OVERVIEW: TREND :BULLISH RESIST 2:5100 RESIST 1:5050 SUP 1:4930 SUP 2: 4880 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (SEP)OVERVIEW: TREND :SIDEWAYS RESIST 2:209.00 RESIST 1:207.50 SUP 1:200.00 SUP 2: 198.00 WWW.CAPITALSTARS.COM +917440449744

  3. CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 05 Sep2018 Pick for theDAY • MCXNICKELSEPonTuesdayasseenintheDailychartopenedat • 909.80 levels and made day Low of 887.10 levels. During this period NICKELcameupto91.40levelsandfinallyclosedat891.90levels. • Now, there are chances of down movementtechnically • &fundamentally. • Pressure will remain in the short run after large amounts of Norilsk nickel entered the domesticmarket. • Nickel slowed its decline by 0.12%, hovered around the daily moving average and closed at$12,795/mt. DAILY RECOMMENDATION: SELL MCX NICKEL SEP BELOW 891 LEVELS FOR TARGET OF 880/875 WITH SL 902 OFLEVELS.

  4. CapitalStars Financial Research Pvt.,Ltd., 4 SEBI Registration Number:INA000001647 MCXDailyReport 05 Sep2018 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

  5. Report Is Checked By InvestmentAdvisor:

More Related