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MCX Daily Report 23 April 2019

Bullion counter may open on positive note as gold prices edged up on Tuesday as<br>Washington moved to choke off Iran's oil revenues, prompting safe haven buying, but gains<br>were capped by a strong dollar and Asian shares hovering near a nine-month peak.

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MCX Daily Report 23 April 2019

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  1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report 23RD APR 2019 News Highlights BULLION - Bullion counter may open on positive note as gold prices edged up on Tuesday as Washington moved to choke off Iran's oil revenues, prompting safe haven buying, but gains were capped by a strong dollar and Asian shares hovering near a nine-month peak. The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, a move to choke off Tehran's oil revenues which sent crude prices to six-month highs on fears of a potential supply crunch. Russia raised its gold holdings by 19.4 tonnes in March, data from the International Monetary Fund showed on Monday. U.S. home sales fell more than expected in March as rising demand stoked by declining mortgage rates and slowing house price inflation continued to be frustrated by a lack of properties, especially in the lower-priced segment of the market, data showed on Monday. ENERGY- Crude oil may extend recent gains as oil prices hovered near 2019 peaks in early trading on Tuesday after Washington abruptly moved to end all Iran sanctions waivers by May, pressuring importers to stop buying from Tehran. The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers, most of them in Asia, to continue buying limited volumes. Before the reimposition of sanctions last year, Iran was the fourth-largest producer among the Organization of the Petroleum Exporting Countries (OPEC) at almost 3 million barrels per day (bpd), but April exports have shrunk well below 1 million bpd, according to ship tracking and analyst data in Refinitiv. Saudi Arabia is the world’s biggest exporter of crude oil and OPEC’s de-facto leader. The group is set to meet in June to discuss its output policy. U.S. natural gas futures settled higher on Monday as warmer-than-normal weather boosted cooling demand, ending six days of declines. BASE METAL - Base metals prices may trade with firm bias. Manufacturers in China facing trade barriers are deploying an array of moves to try to keep foreign customers giving discounts, tapping tax breaks, trimming workforces and, occasionally, shifting production overseas to skirt tariffs. Nickel prices fell on Tuesday, with new data showing a global nickel deficit had narrowed at the end of February, while investors worried that China may ease its stimulus measures. The global nickel market deficit narrowed to 2,000 tonnes in February from a revised deficit of 3,700 tonnes in January, and was much smaller than a 7,200-tonne deficit in the same month last year, the International Nickel Study Group said on Monday. Sentiment was also weighed down by worries that China will ease up on simulative policies after some signs of stabilization in its economy, pulling Chinese stocks down in their worst session in nearly four weeks on Monday.

  2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report 23RD APR 2019 Precious Metals CS GOLD (JUN) OVERVIEW: TREND : BEARISH RESIST 2: 31900 RESIST 1: 31700 SUP 1: 31500 SUP 2: 31400 WWW.CAPITALSTARS.COM +919977499927 CS SILVER (MAY) OVERVIEW: TREND : BEARISH RESIST 2: 37700 RESIST 1: 37500 SUP 1: 37300 SUP 2: 37100 WWW.CAPITALSTARS.COM +919977499927 Base Metals CS COPPER (APR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 453.00 RESIST 1: 450.00 SUP 1: 444.00 SUP 2: 442.00 WWW.CAPITALSTARS.COM +919977499927 CS NICKEL (APR) OVERVIEW: TREND : BEARISH RESIST 2: 891.00 RESIST 1: 883.00 SUP 1: 868.00 SUP 2: 860.00 WWW.CAPITALSTARS.COM +919977499927 CS ZINC (APR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 229.00 RESIST 1: 227.00 SUP 1: 225.00 SUP 2: 224.00 WWW.CAPITALSTARS.COM +919977499927 CS LEAD (APR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 136.00 RESIST 1: 135.00 SUP 1: 133.00 SUP 2: 132.00 WWW.CAPITALSTARS.COM +919977499927 CS ALUMINIUM (APR) OVERVIEW: TREND : BULLISH RESIST 2: 152.00 RESIST 1: 150.00 SUP 1: 148.00 SUP 2: 147.00 WWW.CAPITALSTARS.COM +919977499927 Energy CS CRUDE OIL (MAY) OVERVIEW: TREND : BULLISH RESIST 2: 4700 RESIST 1:4650 SUP 1: 4500 SUP 2: 4420 WWW.CAPITALSTARS.COM +919977499927 CS NATURAL GAS (APR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 178.00 RESIST 1: 177.00 SUP 1: 174.00 SUP 2: 173.00 WWW.CAPITALSTARS.COM +919977499927

  3. CapitalStars Financial Research Pvt., Ltd., 3 SEBI Registration Number: INA000001647 MCX Daily Report 23RD APR 2019 Pick for the DAY MCX CRUDE OIL MAY on MONDAY as seen in the Daily chart opened at 4475.00 levels and made day low of 4475.00 Levels. During this period CRUDE OIL MAY High is 4613.00 levels and finally closed at 4593.00 levels. Now, there are chances of up movement technically & fundamentally. DAILY RECOMMENDATION: BUY MCX CRUDE OIL MAYABOVE 4616 LEVELS FOR TARGET OF 4636/4660 WITH SL 4586 OF LEVELS.

  4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report 23RD APR 2019 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 financial adviser. 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 all Rights. CONTACT US BRANCH OFFICE Capitalstars Financial Research Private Limited PLOT NO.32, MECHANIC NAGAR EXTENSION, IDA SCHEME NO.54, VIJAYNAGAR INDORE REGISTERED OFFICE PLOT NO.12, SCHEME NO.78 PART-II, VIJAY NAGAR, INDORE Email :- backoffice@capitalstars.com CONTACT US:- 9039012727/9977499927 Report Is Checked By Investment Advisor:

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