Gold prices were steady as markets awaited U.S. nonfarm payroll data, while the dollar inched up. Oil prices fell as surging output from the top three producers outweighed supply concerns from upcoming Iran sanctions. Traders are recommended to sell MCX crude oil futures below 4630 levels, with a target of 4580/4550 and a stop loss of 4675.

1. CapitalStars Financial Research Pvt., Ltd., 1
SEBI Registration Number: INA000001647
MCX Daily Report 02 NOV 2018
News Highlights
Gold prices steady, U.S. nonfarm payroll data awaited.
Gold prices were steady in early Asian trade on Friday, after rising about 1.5 percent in the previous
session, while the dollar inched up ahead of the U.S. payrolls data due later in the day. According to a
Reuters survey of economists, nonfarm payrolls probably rebounded by 190,000 jobs in October after
Florence depressed restaurant and retail payrolls in September.
U.S. President Donald Trump and Chinese President Xi Jinping both expressed optimism on Thursday
about resolving their bitter trade disputes ahead of a high-stakes meeting planned for the two leaders at the
end of November in Argentina. Trump increased economic pressure on Venezuela's leftist President Nicolas
Maduro on Thursday with new sanctions aimed at disrupting the South American country's gold exports.
In the physical market, cash flow issues prompted sellers to offload cargoes while spot premiums
rose from previous declines.
LME copper closed near day-highs of $6,143/mt overnight as the US dollar index came o f from multi-
month highs on weak-than-expected economic data and a rebound in the pound. SHFE copper also closed
near session-highs overnight, which returned it to the 60-day moving average. In the physical market, cash
flow issues prompted sellers to offload cargoes while spot premiums rose from previous declines in prices
of futures. Trades improved as traders purchased on demand. LME copper is likely to trade at $6,040-
6,130/mt with SHFE copper at 49,880-49,400 yuan/mt. Spot premiums are seen up to 50 yuan/mt.
In the domestic physical market, stainless steel mills held back from purchases given the
recent declines in nickel prices.
London Nickel was the best performer among LME and SHFE base metals overnight. LME nickel is
likely to hover around $11,700/mt today with the SHFE 1901 contract at 96,500- 98,500 yuan/mt. Spot
prices are seen at 97,500-106,000 yuan/mt.
Oil prices fell on Friday as surging output by the world's three largest producers outweighed
supply concerns.
Oil prices fell on Friday as surging output by the world's three largest producers outweighed supply
concerns from the start of U.S. sanctions next week against Iran's petroleum exports. Crude oil prices took
a severe hit as investors were unnerved on rising global inventories and record high output in 2018," said
Benjamin Lu of brokerage Phillip Futures. Brent has fallen by over 12 percent since the beginning of
October, while WTI has lost more than 13 percent in value. The downward pressure on oil is also visible in
the physical market, where top exporter Saudi Arabia is expected to cut crude prices for December cargoes
amid higher supply and a glut in refined products that has eroded refinery profits. Organization of the
Petroleum Exporting Countries (OPEC) boosted oil production in October to 33.31 million barrels per day
(bpd), a Reuters survey found this week.

2. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 02 NOV 2018
Precious Metals
CS GOLD (DEC) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 32200
RESIST 1: 32100
SUP 1:31800
SUP 2:31700
WWW.CAPITALSTARS.COM
+917440449744
CS SILVER (DEC) OVERVIEW:
TREND : BEARISH
RESIST 2: 39100
RESIST 1: 39000
SUP 1: 38700
SUP 2: 38500
WWW.CAPITALSTARS.COM
+917440449744
Base Metals
CS COPPER (NOV) OVERVIEW:
TREND : BEARISH RESIST
2:442.00
RESIST 1:438.00
SUP 1: 432.00
SUP 2: 428.00
WWW.CAPITALSTARS.COM
+917440449744
CS NICKEL (NOV) OVERVIEW:
TREND : BEARISH RESIST
2: 872.00
RESIST 1: 865.00
SUP 1: 850.00
SUP 2: 845.00
WWW.CAPITALSTARS.COM
+917440449744
CS ZINC (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2:202.00
RESIST 1:199.00
SUP 1: 196.00
SUP 2: 194.00
WWW.CAPITALSTARS.COM
+917440449744
CS LEAD (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2: 147.00
RESIST 1: 145.00
SUP 1: 142.00
SUP 2: 140.00
WWW.CAPITALSTARS.COM
+917440449744
CS ALUMINIUM (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2: 148.00
RESIST 1: 146.00
SUP 1: 144.00
SUP 2: 142.00
WWW.CAPITALSTARS.COM +917440449744
Energies
CS CRUDE OIL (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2: 5020
RESIST 1: 4960
SUP 1: 4840
SUP 2: 4800
WWW.CAPITALSTARS.COM
+917440449744
CS NATURAL GAS (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2: 245.00
RESIST 1: 242.00
SUP 1: 238.00
SUP 2: 235.00
WWW.CAPITALSTARS.COM
+917440449744

4. CapitalStars Financial Research Pvt., Ltd., 3
SEBI Registration Number: INA000001647
MCX Daily Report 02 NOV 2018
Pick for the DAY
MCX Crude on Friday as seen in the Daily chart opened at 4860 levels and
made day Low of 4630 levels. During this period Crude High is 4860 levels and
finally closed at 44630 levels. Now, there are chances of down movement
technically & fundamentally.
Oil prices fell on Friday as surging output by the world's three largest producers
outweighed supply concerns from the start of U.S. sanctions next week
against Iran's petroleum exports.
Organization of the Petroleum Exporting Countries (OPEC) boosted oil
production in October to 33.31 million barrels per day (bpd), a Reuters
survey found this week.
DAILY RECOMMENDATION: SELL MCX CRUDE NOV BELOW 4630
LEVELS FOR TARGET OF 4580/4550 WITH SL 4675 OF LEVELS.

5. CapitalStars Financial Research Pvt., Ltd., 4
SEBI Registration Number: INA000001647
MCX Daily Report 02 NOV 2018
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