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1. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
23 DECEMBER 2016
MCX DAILY NEWS LETTER
CapitalStars Financial Research Pvt. Ltd.

2. LME Copper to Move in a Tight Range.
Highlights
Oil prices fall on profit taking, strong dollar.
Gold flirts with 11-month lows after positive U.S. data.
PRECIOUS METALS
Gold prices fell towards last week's 11-month lows on Thursday, after data showed that the U.S. economy
grew faster than initially estimated in the third quarter, notching its best performance in two years. Gold
for February delivery on the Comex division of the New York Mercantile Exchange dipped $3.00, or 0.25%,
to $1,130.15 a troy ounce.
The Commerce Department said the U.S. economy grew 3.5% in the three months ended September 30, up
from a previous estimate of 3.2% and improving from growth of 1.4% in the second quarter.
The dollar turned higher in wake of the mostly upbeat data, bouncing back towards its 14-year-high against
a basket of currencies with investors focused on the possibility of further U.S. interest rate hikes next year.
Gold likely gained support at $1,337.50, the low from July 20 and was met with resistance at $ rate
BASE METALS
LME copper will range between USD 5,460-5,540/mt during Asian trading hours on Friday and SHFE 1702
copper is expected to move at RMB 44,300-45,050/mt. In China’s domestic market, spot copper should
trader at discounts of RMB 200-80/mt on Friday.
A series of economic data will be released on Friday, including final reading of UK’s and France’s annual
GDP in Q3, US’s new home sales in November and US’s Michigan consumer confidence index in December.
LME market will close at 20:30 on Friday with arriving of Christmas. Economic data effect will reduce
significantly with quiet trading. Base metals in China’s market market increased across the board during US
trading hours on Thursday’s night trading, but price resistance at the upper moving averages and pre-
holiday quiet trading are expected to restrict price gains. Weak performance in other commodity markets
will also undermine base metals.
ENERGIES
Oil prices slipped on Friday in thin Asian trade ahead of the Christmas and New Year holidays, eroding some
of the gains in the previous session as traders took profits.
There's some profit taking after the last session's gains. Oil prices are also weaker due to the stronger
dollar," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance.
"But overall, the fact the dollar and commodities are soaring either tells you demand for commodities has
picked up or there is a need for more supply," he added.
Oil prices are trading around their highest levels since mid-2015, supported by a deal by the Organization of
the Petroleum Exporting Countries and non-OPEC oil producers to cut output by almost 1.8 million bpd
from Jan. 1.
SEBI Registration Number: INA000001647,,, MCX Daily News Letter

3. PRECIOUS LEVELS
CS GOLD (FEBRUARY) OVERVIEW: CS SILVER (MARCH) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 27300 RESIST 2: 40000
RESIST 1: 27120 RESIST 1: 39400
SUP 1: 26800 SUP1: 38650
SUP 2: 26700 SUP2: 38300
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BASEMETAL LEVELS
CS COPPER ( FEBRUARY ) OVERVIEW: CS NICKEL (DECEMBER) OVERVIEW:
TREND : SIDEWAYS TREND : BEARISH
RESIST 2:381 RESIST 2: 742
RESIST 1:378 RESIST 1: 735
SUP1:372 SUP1: 715
SUP2:369 SUP2: 710
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CS ZINC ( DECEMBER) OVERVIEW: CS LEAD (DECEMBER ) OVERVIEW:
TREND : SIDEWAYS TREND : BEARISH
RESIST 2:182.00 RESIST 2: 146.50
RESIST 1:180.00 RESIST 1: 145.50
SUP1:174.00 SUP1: 141.50
SUP2:172.00 SUP2: 140.00
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CS ALUMINIUM (DECEMBER) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 118.50
RESIST 1: 117.50
SUP1: 116.50
SUP2: 115.00
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ENERGY LEVELS
CS CRUDE OIL (JANUARY) OVERVIEW: CS NATURAL GAS ( DECEMBER ) OVERVIEW:
TREND : BEARISH TREND : BULLISH
RESIST 2:3700 RESIST 2:250.00
RESIST 1:3650 RESIST 1:246.00
SUP1:3530 SUP1:235.00
SUP2:3500 SUP2:230.00
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SEBI Registration Number: INA000001647,,, MCX Daily News Letter

4. PICK FOR THE DAY
MCX CRUDE OIL January Thursday as seen in the daily chart opened at 3580 levels
and day high of 3623 levels. During this period price corrected & made day low of
3552 levels finally closed at 3607 levels. Now, there are chances of further upward
movement technically & fundamentally.
Oil prices are trading around their highest levels since mid-2015, supported by a deal by the
Organization of the Petroleum Exporting Countries and non-OPEC oil producers to cut output by
almost 1.8 million bpd from Jan. 1.
DAILY RECOMMENDATION: BUY MCX CRUDE OIL JANUARY AROUND 3550
LEVELS FOR TARGET OF T1 3650/T2 3700 WITH SL OF 3450 LEVELS.

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SEBI Registration Number: INA000001647,,, MCX Daily News Letter

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SEBI Registration Number: INA000001647,,, MCX Daily News Letter