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SEBI Registration Number: INA000001647
MCX Daily Report 16TH
AUGUST 2019
News Highlights
BULLION - Bullion counter may remain on sideways to positive path. Gold prices gained on Friday as
the steep fall in U.S. bond yields continued, while conflicting signals on the Sino-U.S. trade war added
to economic uncertainty. The metal has gained nearly 2% so far this week, and is on track for its third
straight weekly gain. China on Thursday vowed to counter the latest $300 billion U.S. tariffs, but also
called on the U.S. to meet it halfway on a potential trade deal. On Thursday, U.S. President Donald
Trump said he believed China wanted to make a trade deal, and that the trade conflict would be fairly
short. Investors are focused on the Federal Reserve's annual symposium next week. Traders see an
about one-in-three chance of a 50 basis-point rate cut by the Fed this September. The European
Central Bank's (ECB) Olli Rehn on Thursday flagged the need for a significant easing package in
September. The ECB is widely expected to cut interest rates by at least 10 basis points when it meets
next month.
ENERGY- Crude oil may trade with upside path as crude oil prices rose on Friday after two days of
declines, buoyed following data showing a rise in U.S. retail sales helped ease some concerns about a
recession in the world's biggest economy. U.S. retail sales rose 0.7% in July as consumers bought a
range of goods even as they cut back on motor vehicle purchases, according to data that came a day
after a key part of the U.S. Treasury yield curve inverted for the first time since June 2007 prompting a
sell-off in stocks and crude oil. The price of Brent is still up nearly 10% this year thanks to supply cuts
led by the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia, a group
known as OPEC+. In July, OPEC+ agreed to extend oil output cuts until March 2020 to prop up prices.
But the efforts of OPEC+ have been outweighed by worries about the global economy amid the U.S.-
China trade dispute and uncertainty over Brexit, as well as rising U.S. stockpiles of crude and higher
output of U.S. shale oil. U.S. natural gas futures jumped more than 5% on Thursday after the release
of a storage report that showed a much smaller-than-expected build last week.
BASE METAL - Base metals may trade on positive path. China's refined copper output rose 4.8% year-
on-year to 801,000 tonnes in July, data released by the National Bureau of Statistics showed on
Friday. Copper prices were almost unchanged on Friday, amid conflicting messages about the ongoing
trade discussions between the United States and China. U.S. President Donald Trump said on
Thursday that U.S. and Chinese negotiators were holding “productive” trade talks and expected them
to meet in September. Meanwhile, China vowed to counter the latest U.S. tariffs but called on the
United States to meet it halfway on a potential trade deal. Prices of copper, seen as a gauge of
economic health, have been hurt by the prolonged trade war between the world’s two biggest
economies and have fallen 3.6% so far this year on the London Metal Exchange (LME). China July zinc
output was up 17.4% y/y at 512,000 tonnes. China July lead output rose 13.2% y/y to 472,000 tonnes.
Alumina output was up 2.9% y/y but down 3% from June at 6.22 mln tonnes, the lowest monthly total
since December.

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SEBI Registration Number: INA000001647
MCX Daily Report
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Base Metals
TREND : SIDEWAYS TREND : BULLISH
RESIST 2: 455.00 RESIST 2: 1170.00
RESIST 1: 451.00 RESIST 1: 1160.00
SUP 1: 443.00
SUP 2: 439.00
CS ZINC (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 187.00 RESIST 2: 157.00
RESIST 1: 186.00 RESIST 1: 156.00
SUP 1: 184.00 SUP 1: 153.00
SUP 2: 183.00 SUP 2: 152.00
RESIST 2: 143.00
RESIST 1: 142.00
SUP 1: 140.00
SUP 2: 138.00
WWW.CAPITALSTARS.COM +919977499927
Energy
CS CRUDE OIL (AUG) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS

3. CapitalStars Financial Research Pvt., Ltd., 3
SEBI Registration Number: INA000001647
MCX Daily Report 16TH
AUGUST 2019
Pick for the DAY
MCX ZINC AUG on WEDNESDAY as seen in the Daily chart opened at 186.45 levels and made day
low of 183.55 levels. During this period ZINC AUG High is 187.55 levels and finally closed at
184.40 levels. Now, there are chances of down movement technically & fundamentally.
DAILY RECOMMENDATION: SELL MCX ZINC AUG BELOW 184.30 LEVELS FOR TARGET OF
183.30/182.30 WITH SL 185.30 OF LEVELS.
future performance.

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SEBI Registration Number: INA000001647
MCX Daily Report 16TH
AUGUST 2019
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