This Document is regarding Daily MCX report.

1. CapitalStars Financial Research Pvt., Ltd., 1
SEBI Registration Number: INA000001647
MCX Daily Report 24 Aug 2018
News Highlights
Gold prices retreated from resistance defining the down trend started in mid-June.
Commodity prices turned lower Thursday following the prior sessions’ gains as a recovery in the US
Dollar pressured assets denominated in terms of the benchmark unit (as expected). Perennially anti-fiat
gold prices appeared to reflect the currency’s recovery most directly while crude oil prices merely stalled
having scored the largest daily gain in 2 months Wednesday. The greenback advanced alongside two-year
Treasury bond yields as the priced- in 2018 interest rate hike path implied in Fed Funds futures steepened.
The move probably marks pre-positioning ahead of a much-anticipated speech from Fed Chair Jerome
Powell at the central bank’s Economic Symposium in Jackson Hole, Wyoming on Friday.
COPPER is extending its recovery and now it’s in range bound.
LME copper climbed above the daily moving average from a low of $5,901.5/mt on Thursday, with
pressure from the five- and 10-day moving averages. The SHFE 1810 contract rose to close at 48,480
yuan/mt overnight. Open interests for the SHFE copper contracts shrank to 587,000 lots. We expect
copper prices to trade range bound in the short term. Spot premiums are seen lower at 70-130 yuan/mt
today with inflows of imports.
Risk aversion sentiment grew as China’s stainless steel exports.
LME nickel tumbled to an intraday low of $13,185/mt before it regained some losses and closed at
$13,240/mt on Thursday. The SHFE 1811 contract fell to a low of 108,760 yuan/mt before it recovered some losses
and closed at 109,630 yuan/mt overnight. Risk aversion sentiment grew as China’s stainless steel exports are
expected to be affected by the new round of trade tariffs. We expect nickel
prices to trade range bound today. LME nickel is likely to hover around $13,200/mt and the SHFE 1811 contract is
expected to trade at 108,500-110,000 yuan/mt. Spot prices are seen at 109,000-112,000 yuan/mt.
Oil prices rise on Iran sanctions, but U.S.-China row mutes trading.
Oil prices rose on Friday as U.S. sanctions on Iran are expected to cut significant volumes of crude from
the market, although trading was muted by concerns over the unresolved trade dispute between
Washington and Beijing. Traders said the supply versus demand outlook for oil markets was relatively tight
because of the looming U.S. sanctions against Iran, which will target oil exports from November. Iran is the
third-biggest producer within the Organization of the Petroleum Exporting Countries (OPEC), exporting on
average around 2.5 million barrels per day (bpd) of crude and condensate this year, equivalent to around
2.5 percent of global consumption.

2. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 24 Aug 2018
Precious Metals
CS GOLD (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2: 29850
RESIST 1: 29750
SUP 1:29450
SUP 2:29350
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CS SILVER (SEP) OVERVIEW:
TREND : BEARISH
RESIST 2: 36850
RESIST 1: 36700
SUP 1: 36300
SUP 2: 36150
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Base Metals
CS COPPER (AUG) OVERVIEW:
TREND : BEARISH RESIST
2:414.50
RESIST 1:410.00
SUP 1: 408.00
SUP 2: 402.00
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CS NICKEL (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 938.00
RESIST 1: 927.00
SUP 1: 922.00
SUP 2: 913.00
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CS ZINC (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2:179.50
RESIST 1: 177.50
SUP 1: 175.00
SUP 2: 173.00
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CS LEAD (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 148.50
RESIST 1: 146.00
SUP 1: 139.00
SUP 2: 137.50
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CS ALUMINIUM (AUG) OVERVIEW:
TREND : SIDEWAYS RESIST 2:
148.00
RESIST 1: 146.50
SUP 1: 140.00
SUP 2: 138.50
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Energies
CS CRUDE OIL (SEP) OVERVIEW:
TREND : BEARISH
RESIST 2: 4910
RESIST 1: 4860
SUP 1: 4800
SUP 2: 4750
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CS NATURAL GAS (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 210.00
RESIST 1: 208.50
SUP 1: 205.50
SUP 2: 203.00
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4. CapitalStars Financial Research Pvt., Ltd., 3
SEBI Registration Number: INA000001647
MCX Daily Report 24 Aug 2018
Pick for the DAY
MCX GOLD AUG on Thursday as seen in the Daily chart opened at 29628
levels and made day Low of 29540 levels. During this period Gold came up to
29680 levels and finally closed at 29608 levels.
Now, there are chances of down movement technically
& fundamentally.
Without any significant growth in demand from any of the markets, gold
jewellery exports from SEZ/EPZs have surged by 220 per cent between
April and July, while that from DTA is down by 7 per cent .
Import of gold bar too has recorded a huge leap of 450 per cent in July and
302 per cent between April and July.
DAILY RECOMMENDATION: SELL MCX GOLD OCT BELOW 29608
LEVELS FOR TARGET OF 29550/29500 WITH SL 29700 OF LEVELS.

5. CapitalStars Financial Research Pvt., Ltd., 4
SEBI Registration Number: INA000001647
MCX Daily Report 24 Aug 2018
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