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CapitalStars Financial Research Pvt., Ltd.,
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SEBI Registration Number INA000001647 MCX Daily
Report 06TH SEPTEMBER 2019
News Highlights
BULLION - Bullion counter may trade with weak
bias as gold prices inched lower on Friday,
after dropping more than 2 in the previous
session, as investors were driven to riskier
assets encouraged by stronger U.S. economic data
and hopes of a thaw in the U.S.- China trade
tensions. Prices also registered their biggest
one-day percentage decline in nearly three years
on Thursday. U.S. services sector activity
accelerated in August and private employers
boosted hiring, suggesting the economy continued
to grow at a moderate pace despite trade
tensions, which have stoked financial market
fears of a recession. China and the United States
on Thursday agreed to hold high-level talks in
early October in Washington, cheering investors
hoping for a trade war thaw as new U.S. tariffs
on Chinese consumer goods chip away at global
growth. Trade tensions between the United States
and China are set to knock half a percentage
point off of global growth by next year, France's
finance minister said in an interview published
on Thursday. ENERGY- Crude oil may trade with
sideways bias. Oil prices edged higher on Friday,
with crude benchmarks poised for multi-week
gains amid a sharp drawdown in U.S. crude
inventories, while trade tensions eased after
Washington and Beijing agreed to hold highlevel
talks next month. U.S. crude and product
inventories fell last week, with crude drawing
down for a third consecutive week despite a jump
in imports, the Energy Information Administration
(EIA) said. Crude stocks dropped 4.8 million
barrels, nearly double analysts expectations, to
423 million barrels, their lowest since October
2018. Oil prices on Thursday soared more than 2
after the EIA report, although they gradually
trimmed gains as investors are not entirely
convinced that the Sino-U.S. trade talks will
yield results. U.S. natural gas futures slipped
from a seven- week high on Thursday following
the release of a bigger than expected weekly
storage build and a projected decline in the
amount of gas flowing to liquefied natural gas
(LNG) export plants. BASE METAL - Base metals
may trade with dip lower on profit booking.
London copper was rising 2.7 so far this week,
its best since March, while Shanghai copper rose
as progress after China and the United States
agreed to hold high level trade talks, reviving
hopes for an end to a prolonged dispute. China's
iron ore futures edged lower to snap a
six-session rally on Friday, but they were in
line for their biggest weekly jump since
mid-June, fuelled by firm demand from mills.
Indonesia government announced that miners can
seek new export quotas, which will be valid
until the end of the year. This is likely to
result in a surge in exports of nickel ore ahead
of the planned ban on 1 January 2020. Indonesia
on Thursday released a decree allowing new
exports quotas to be issued but only for
validation until the end of this year.
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CapitalStars Financial Research Pvt., Ltd.,
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SEBI Registration Number INA000001647 MCX Daily
Report 06TH SEPTEMBER 2019
Precious Metals Precious Metals Precious Metals
CS GOLD (OCT) OVERVIEW TREND BULLISH RESIST 2 39500 RESIST 1 39100 SUP 1 38400 SUP 2 38000 WWW.CAPITALSTARS.COM 919977499927 CS SILVER (DEC) OVERVIEW TREND SIDEWAYS RESIST 2 49700 RESIST 1 49300 SUP 1 48500 SUP 2 48100 WWW.CAPITALSTARS.COM 919977499927 CS SILVER (DEC) OVERVIEW TREND SIDEWAYS RESIST 2 49700 RESIST 1 49300 SUP 1 48500 SUP 2 48100 WWW.CAPITALSTARS.COM 919977499927
Base Metals Base Metals Base Metals
CS COPPER (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 461.00 RESIST 1 457.00 SUP 1 449.00 SUP 2 445.00 WWW.CAPITALSTARS.COM 919977499927 CS COPPER (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 461.00 RESIST 1 457.00 SUP 1 449.00 SUP 2 445.00 WWW.CAPITALSTARS.COM 919977499927 CS NICKEL (SEP) OVERVIEW TREND BEARISH RESIST 2 1260.00 RESIST 1 1250.00 SUP 1 1230.00 SUP 2 1220.00 WWW.CAPITALSTARS.COM 919977499927
CS ZINC (SEP) OVERVIEW TREND BEARISH RESIST 2 189.00 RESIST 1 188.00 SUP 1 185.00 SUP 2 184.00 WWW.CAPITALSTARS.COM 919977499927 CS ZINC (SEP) OVERVIEW TREND BEARISH RESIST 2 189.00 RESIST 1 188.00 SUP 1 185.00 SUP 2 184.00 WWW.CAPITALSTARS.COM 919977499927 CS LEAD (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 156.00 RESIST 1 155.00 SUP 1 153.00 SUP 2 152.00 WWW.CAPITALSTARS.COM 919977499927
CS ALUMINIUM (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 142.00 RESIST 1 141.00 SUP 1 139.00 SUP 2 138.00 WWW.CAPITALSTARS.COM 919977499927 CS ALUMINIUM (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 142.00 RESIST 1 141.00 SUP 1 139.00 SUP 2 138.00 WWW.CAPITALSTARS.COM 919977499927 CS ALUMINIUM (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 142.00 RESIST 1 141.00 SUP 1 139.00 SUP 2 138.00 WWW.CAPITALSTARS.COM 919977499927
Energy Energy Energy
CS CRUDE OIL (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 4120 RESIST 14080 SUP 1 4000 SUP 2 3960 WWW.CAPITALSTARS.COM 919977499927 CS CRUDE OIL (SEP) OVERVIEW TREND SIDEWAYS RESIST 2 4120 RESIST 14080 SUP 1 4000 SUP 2 3960 WWW.CAPITALSTARS.COM 919977499927 CS NATURAL GAS (SEP) OVERVIEW TREND BULLISH RESIST 2 177.00 RESIST 1 176.00 SUP 1 174.00 SUP 2 173.00 WWW.CAPITALSTARS.COM 919977499927
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CapitalStars Financial Research Pvt., Ltd.,
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SEBI Registration Number INA000001647 MCX Daily
Report 06TH SEPTEMBER 2019
Pick for the DAY
MCX NICKEL SEP on THRUSDAY as seen in the Daily
chart opened at 1271.10 levels and made day low
of 1221.40 levels. During this period NICKEL SEP
high is 1271.10 levels and finally closed at
1236.70 levels. Now, there are chances of down
movement technically fundamentally. DAILY
RECOMMENDATION SELL MCX NICKEL SEP BELOW 1240
LEVELS FOR TARGET OF 1225/1210 WITH SL 1255 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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