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Mcx daily report 9 oct

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Mcx daily report 9 oct

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  1. CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 09 OCT2018 NewsHighlights Gold dips to one-week low as investors seek refuge indollar. Gold fell to its lowest level in a week on Monday as investors sought safety in the U.S. dollar on concerns about a selloff in global stocks worsened by worries over economic growth in China. "The strong U.S. dollar and expectations of more interest rate hikes are pushing gold down and scaring gold investors. Even the Italian risk and a weakness in equities is not pushing investors to buy gold," said Carlo Alberto De Casa, chief analyst at Active Trades. Despite the losses, gold has held in a $34 range for the last 1-1/2 months, which some analysts say suggests resilience, worries over the damage to emerging market economies from higher U.S. interest rates has spurred safe-havenbidding. The recent US-Mexico-Canada Agreement will also put China’s exports underpressure. London copper rebounded to a high of $6,224.5/mt from a low of $6,126/mt on Monday. This helped it stand firmly above the 20-day moving average. The SHFE 1811 contract reversed some gains overnight after hitting a high of 50,320 yuan/mt, which was near the five-day moving average. China’s actions, including a steep cut in the amount of cash that banks must hold as reserves, quickening special bond issuance for shanty-town redevelopment, an increase in export tax rebates from November 1, supported copper prices in the domestic market. Stocks at home and abroad continued their declines. We expect LME copper to trade at $6,170-6,230/mt with the SHFE 1811 contract at 50,000-50,500 yuan/mt. Spot premiums are seen at 40-80 yuan/mt. LME inventories continued to decline but on a smaller scale. London nickel received support after falling to a low of $12,400/mt when the US dollar inched down. Inventories across LME warehouses declined 1,326 mt to 226,476 mt. The SHFE 1811 contract broke resistance at the 105,000 yuan/mt level but limited upward momentum is seen as both supply and demand grow domestically. We forecast LME nickel to hover around $12,600/mt today, with the SHFE 1811 contract trading at 103,000-105,000 yuan/mt. Spot prices are set at 103,500-110,000 yuan/mttoday. Oil prices rise on signs that Iranian crude exports fallfurther. Oil prices rose on Tuesday as more evidence emerged that crude exports from Iran, OPEC's third-largest producer, are declining in the run-up to the re-imposition of U.S. sanctions and as a hurricane moved across the Gulf of Mexico. Iran's crude exports fell further in the first week of October, according to tanker data and an industry source, as buyers are seeking alternatives ahead of the start of the U.S. sanctions on Nov.4andcreatingachallengetootherOPECoilproducersastheyseektocover

  2. the shortfall. Islamic Republic exported 1.1 million barrels per day (bpd) of crude in that seven-day period, Refinitiv Eikon data showed. An industry source who also tracks exports said October shipments were so far below 1 millionbpd.

  3. CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 09 OCT2018 PreciousMetals CS GOLD (DEC)OVERVIEW: TREND : SIDEWAYS RESIST 2:31600 RESIST 1:31450 SUP1:31200 SUP 2:31100 WWW.CAPITALSTARS.COM +917440449744 CS SILVER (DEC) OVERVIEW: TREND :SIDEWAYS RESIST 2:39000 RESIST 1:38700 SUP 1: 38500 SUP 2: 38300 WWW.CAPITALSTARS.COM +917440449744 BaseMetals CS COPPER (NOV) OVERVIEW: TREND : BULLISH RESIST2:460.00 RESIST1:455.00 SUP 1: 450.00 SUP 2: 445.00 WWW.CAPITALSTARS.COM +917440449744 CS NICKEL (OCT) OVERVIEW: TREND : BULLISH RESIST 2:945.00 RESIST 1:935.00 SUP 1: 922.00 SUP 2: 910.00 WWW.CAPITALSTARS.COM +917440449744 CS ZINC (OCT)OVERVIEW: TREND : BULLISH RESIST2:201.00 RESIST 1:197.00 SUP 1:194.00 SUP 2: 190.00 WWW.CAPITALSTARS.COM +917440449744 CS LEAD (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2:151.00 RESIST 1:148.00 SUP 1:147.00 SUP 2: 145.00 WWW.CAPITALSTARS.COM +917440449744 CS ALUMINIUM (OCT)OVERVIEW: TREND :BEARISH RESIST 2:155.00 RESIST 1:153.00 SUP 1:150.00 SUP 2:148.00 WWW.CAPITALSTARS.COM+917440449744 Energies CS CRUDE OIL (OCT)OVERVIEW: TREND :BULLISH RESIST 2:5550 RESIST 1:5500 SUP 1:5450 SUP 2: 5400 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (OCT)OVERVIEW: TREND :BULLISH RESIST 2:245.00 RESIST 1:242.00 SUP 1:235.00 SUP 2: 232.00 WWW.CAPITALSTARS.COM +917440449744

  4. CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 09 OCT2018 Pick for theDAY • MCX CRUDE Oct on Friday as seen in the Daily chart opened at 5473 levels and made day high of 5513 levels. During this period Crude low is 5423 levels and finally closed at 5494 levels. Now, there are chances of up movement technically & fundamentally. • Oil prices rose on Tuesday as more evidence emerged that crude exports from Iran, OPEC's third-largest producer, are declining in the run-up to the re-imposition of U.S. sanctions and as a hurricane moved across the Gulf of Mexico. • Iran's crude exports fell further in the first week of October, according to tanker data and an industry source, as buyers are seeking alternatives ahead of the start of the U.S. sanctions on Nov. 4 and creating a challenge to other OPEC oil producers as they seek to cover theshortfall. DAILY RECOMMENDATION: BUY MCX CRUDE DEC ABOVE 5525 LEVELS FOR TARGET OF 5550/5580 WITH SL 5470 OF LEVELS.

  5. CapitalStars Financial Research Pvt.,Ltd., 4 SEBI Registration Number:INA000001647 MCXDailyReport 09 OCT2018 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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