Mcx daily report 12 oct

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MCX Daily Report 12 OCT 2018
Gold prices edged higher as some investors sought refuge in the precious metal.
Gold edged down on Friday but held near an over two-month high hit in the previous session, when
prices surged over 2 percent as a rout in global stock markets boosted the metal's safe-haven appeal.
Spot gold was down 0.2 percent at $1,221.06 an ounce at the time of writing. On Thursday, it jumped
about 2.5 percent after marking its highest since July 31 at $1,226.27. That was also the metal's best
one-day percentage gain since June 2016. U.S. gold futures were down 0.3 percent at $1,224.50 an
ounce. Worries about the economic impact of the Sino-U.S. trade war, a spike in U.S. bond yields this
week and caution ahead of earnings seasons have all been cited as potential reasons behind the
selloff, the biggest market rout since February.
Shrinking inventories provided some support to copper prices while anticipated growth in Chinese
infrastructure.
London copper rebounded to a high of $6,300/mt as the dollar fell poor data from the consumer price
index (CPI). The SHFE 1811 contract also gained and tried to stand firmly above the 10-day moving
average overnight with a shorter MACD red line. Shrinking inventories provided some support to copper
prices while anticipated growth in Chinese infrastructure and upbeat orders for stockpiling before the
year-end buoyed SHFE copper. LME copper is likely to trade at $6,150-6,280/mt today; the SHFE 1811
contract is expected to trade at 50,060-50,650 yuan/mt. Spot prices are seen between discounts of 30
yuan/mt to premiums of 30 yuan/mt.
US dollar weakened and the growth in US consumer price index for September missed expectations.
London nickel and the SHFE 1811 contract rebounded overnight as the US dollar weakened and
the growth in US consumer price index for September missed expectations. LME nickel rallied to a
high of $12,780/mt and settled at $12,705/mt, with LME stocks dipping 600 mt to 224,928 mt. The
SHFE 1811 contract slid from a high of 105,150 yuan/mt to close at 104,700 yuan/mt.
Fundamentals supported and grew both supply and demand. We forecast LME nickel hovering
around $12,600/mt today, with the SHFE 1811 contract trading at 103,500-105,000 yuan/mt. Spot
prices are set at 103,500-110,500 yuan/mt today..
Oil dropped on Thursday to extend big losses from the previous session as global stock markets
suffered a rout.
Oil prices steadied on Friday after a market rout driven by sharp falls in equity markets and indications that
supply concerns have been overblown, but were still on track for a fall or more than 4 percent for the
week. U.S. West Texas Intermediate (WTI) crude futures were up 11 cents at $71.08 a barrel, after falling 3
percent in the previous session to the lowest since

Sept. 21. U.S. crude inventories rose by 6 million barrels last week, the Energy Information Administration
said, more than double analysts' expectations of a 2.6 million-barrel increase. The Organization of the
Petroleum Exporting Countries cut its forecast of global demand growth for oil next year for a third straight
month, citing headwinds facing the broader economy from trade disputes and volatile emerging markets.
OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group's secretary-
general said on Thursday.

CapitalStars Financial Research Pvt., Ltd.,
Precious Metals
CS GOLD (DEC) OVERVIEW:
TREND : BULLISH
RESIST 2: 32000
RESIST 1: 31900
SUP 1:31700
SUP 2: 31600
WWW.CAPITALSTARS.COM
+917440449744
CS SILVER (DEC) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 39000
RESIST 1: 38850
SUP 1: 38650
SUP 2: 38500
+917440449744
Base Metals
CS COPPER (NOV) OVERVIEW:
TREND : BULLISH
RESIST 2:468.00
RESIST 1:462.00
SUP 1: 455.00
SUP 2: 449.00
+917440449744
CS NICKEL (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 958.00
RESIST 1: 948.00
SUP 1: 933.00
SUP 2: 922.00
+917440449744
CS LEAD (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 150.50
RESIST 1: 148.50
SUP 1: 146.00
SUP 2: 144.00
+917440449744
CS ZINC (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2:198.00
RESIST 1: 196.50
SUP 1: 193.00
SUP 2: 191.00
+917440449744
CS ALUMINIUM (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2: 153.00
RESIST 1: 151.00
SUP 1: 149.00
SUP 2: 148.00
WWW.CAPITALSTARS.COM +917440449744
Energies
CS CRUDE OIL (OCT) OVERVIEW: CS NATURAL GAS (OCT) OVERVIEW:
TREND : BEARISH TREND : BULLISH
RESIST 2: 5390 RESIST 2: 244.00
RESIST 1: 5320 RESIST 1: 241.00
SUP 1: 5270 SUP 1: 237.00
SUP 2: 5230 SUP 2: 235.00
WWW.CAPITALSTARS.COM WWW.CAPITALSTARS.COM
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Pick for the DAY
MCX CRUDE Oct on Tuesday as seen in the Daily chart opened at 5572 levels
and made day high of 5595 levels. During this period Crude low is 5488 levels
and finally closed at 5574 levels. Now, there are chances of up movement
technically & fundamentally.
 Oil prices rose on Tuesday as more evidence emerged that crude exports from
Iran, OPEC's third-largest producer, are declining in the run-up to the re-
imposition of U.S. sanctions and as a hurricane moved across the Gulf of
Mexico.
 Iran's crude exports fell further in the first week of October, according to tanker
data and an industry source, as buyers are seeking alternatives ahead of the
start of the U.S. sanctions on Nov. 4 and creating a challenge to other OPEC oil
producers as they seek to cover the shortfall.

DAILY RECOMMENDATION: SELL MCX CRUDE OCT BELOW
5270 LEVELS FOR TARGET OF 5240/5210 WITH SL 5350 OF LEVELS.
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Mcx daily report 12 oct

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