MCX daily Report

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CapitalStars Financial Research Pvt., Ltd.,
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SEBI Registration Number INA000001647 MCX Daily
Report 11TH SEPTEMBER 2019
News Highlights
BULLION - Bullion counter may trade with weak
bias. Gold prices hovered near a four-week low
hit in the previous session as risk appetite
improved amid hopes of an interest rate cut by
the European Central Bank and fiscal stimulus
measures from Germany, Europes largest economy.
A senior White House adviser tamped down
expectations on Tuesday for the next round of
U.S.- China trade talks, urging investors,
businesses and the public to be patient about
resolving the trade dispute between the worlds
two largest economies. Position unwinding was
also apparent in bond markets ahead of key
central bank policy announcements including the
European Central Bank on Thursday and the U.S.
Federal Reserve next week. German Chancellor
Angela Merkel said on Tuesday her government was
sticking to its balanced budget policy, tempering
expectations for fiscal stimulus in Europes
largest economy. ENERGY- Crude oil may trade
with upside bias as oil prices rose on Wednesday
after an industry report showed that crude
stockpiles in the U.S. fell last week by more
than twice the amount that analysts had
forecast. Prices had ended lower on Tuesday,
squeezed by speculation of a return of
sanctions-hit Iranian crude exports to the market
following United States President Donald Trumps
move to fire national security adviser John
Bolton, a noted Iran policy hawk. But they
rebounded after American Petroleum Institute
(API) data released late on Tuesday showed U.S.
crude and gasoline stocks fell last week, while
distillate stocks built. The API numbers showed
crude inventories fell by 7.2 million barrels in
the week ended Sept. 6 to 421.9 million, compared
with analysts expectations of a decrease of 2.7
million barrels. U S. natural gas futures eased
on Tuesday after setting 14-week highs over the
past two trading sessions as a slowdown in
liquefied natural gas (LNG) and pipeline exports
offset forecasts for warmer weather and rising
cooling demand over the next two weeks. BASE
METAL - Base metals may trade with dip lower on
profit booking. China's factory-gate prices
shrank at the sharpest pace in three years in
August, falling deeper into deflationary
territory and reinforcing the urgency for
Beijing to step up economic stimulus as the trade
war with the United States intensifies. London
copper prices dipped in early Asian trade on
Wednesday, as the entire base metals complex was
pulled down by a stronger dollar and lingering
concerns over a slowdown in top consumer China.
Refined copper cathode production by major
Chinese smelters fell by 0.5 in August from a
month earlier. An indefinite strike by mining
unions in Peru that started on Tuesday has
failed to draw large numbers of workers and has
not affected output at mines in the world's No.2
copper, zinc, and silver producer, an industry
association said. Norsk Hydro, one of the
world's largest aluminum producers, said it would
close some production in Germany and could lay
off more than 700 workers in a bid to increase
profitability at its rolled products business.
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CapitalStars Financial Research Pvt., Ltd.,
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SEBI Registration Number INA000001647 MCX Daily
Report 11TH SEPTEMBER 2019
Precious Metals Precious Metals Precious Metals
CS GOLD (OCT) OVERVIEW TREND SIDEWAYS RESIST 2 38900 RESIST 1 38500 SUP 1 37900 SUP 2 37600 WWW.CAPITALSTARS.COM 919977499927 CS SILVER (DEC) OVERVIEW TREND SIDEWAYS RESIST 2 48700 RESIST 1 48300 SUP 1 47600 SUP 2 47200 WWW.CAPITALSTARS.COM 919977499927 CS SILVER (DEC) OVERVIEW TREND SIDEWAYS RESIST 2 48700 RESIST 1 48300 SUP 1 47600 SUP 2 47200 WWW.CAPITALSTARS.COM 919977499927
Base Metals Base Metals Base Metals
CS COPPER (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 462.00 RESIST 1 458.00 SUP 1 450.00 SUP 2 446.00 WWW.CAPITALSTARS.COM 919977499927 CS COPPER (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 462.00 RESIST 1 458.00 SUP 1 450.00 SUP 2 446.00 WWW.CAPITALSTARS.COM 919977499927 CS NICKEL (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 1290.00 RESIST 1 1280.00 SUP 1 1260.00 SUP 2 1250.00 WWW.CAPITALSTARS.COM 919977499927
CS ZINC (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 191.00 RESIST 1 189.00 SUP 1 187.00 SUP 2 186.00 WWW.CAPITALSTARS.COM 919977499927 CS ZINC (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 191.00 RESIST 1 189.00 SUP 1 187.00 SUP 2 186.00 WWW.CAPITALSTARS.COM 919977499927 CS LEAD (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 157.00 RESIST 1 156.00 SUP 1 155.00 SUP 2 154.00 WWW.CAPITALSTARS.COM 919977499927
CS ALUMINIUM (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 143.00 RESIST 1 142.00 SUP 1 140.00 SUP 2 139.00 WWW.CAPITALSTARS.COM 919977499927 CS ALUMINIUM (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 143.00 RESIST 1 142.00 SUP 1 140.00 SUP 2 139.00 WWW.CAPITALSTARS.COM 919977499927 CS ALUMINIUM (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 143.00 RESIST 1 142.00 SUP 1 140.00 SUP 2 139.00 WWW.CAPITALSTARS.COM 919977499927
Energy Energy Energy
CS CRUDE OIL (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 4220 RESIST 14180 SUP 1 4100 SUP 2 4060 WWW.CAPITALSTARS.COM 919977499927 CS CRUDE OIL (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 4220 RESIST 14180 SUP 1 4100 SUP 2 4060 WWW.CAPITALSTARS.COM 919977499927 CS NATURAL GAS (SEP) OVERVIEW TREND BULLISH RESIST 2 189.00 RESIST 1 188.00 SUP 1 186.00 SUP 2 184.00 WWW.CAPITALSTARS.COM 919977499927
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CapitalStars Financial Research Pvt., Ltd.,
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SEBI Registration Number INA000001647 MCX Daily
Report 11TH SEPTEMBER 2019
Pick for the DAY
MCX COPPER SEP on TUESDAY as seen in the Daily
chart opened at 452.00 levels and made day low
of 450.60 levels. During this period COPPER SEP
high is 454.75 levels and finally closed at
453.80 levels. Now, there are chances of up
movement technically fundamentally. DAILY
RECOMMENDATION BUY MCX COPPER SEP ABOVE 453.50
LEVELS FOR TARGET OF 455.50/457.50 WITH SL 451
OF LEVELS.
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CapitalStars Financial Research Pvt., Ltd.,
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SEBI Registration Number INA000001647 MCX Daily
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