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Mcx daily report 16 jan 2018
- 1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report - 16 JAN 2018 News High lights Gold Gains In Asia As Weaker Dollar Trend Aids Buying Sentiment. Gold prices rose in Asia on Tuesday as the market shrugged off signs of tighter monetary policies ahead for the Bank of Japan and European Central Bank and took advantage of a weaker dollar trend to buy the greenback-denominated commodity. Overnight, gold prices remained supported at four-month highs on Monday, as demand for the U.S. dollar continued to broadly weaken. The dollar shrugged off data on Friday showing that underlying U.S. consumer prices recorded their largest increase in 11 months in December, adding to expectations that inflation will accelerate this year. Gold is sensitive to moves in the dollar. A weaker dollar makes gold less expensive for holders of foreign currency. Copper prices gained getting support from resilient China demand, after China's commodities buying spree eased slightly in December from bumper levels a month earlier. Copper on MCX settled up 1.27% at 458.80 gained on short-covering rallied on a potent combination of a softer dollar, dwindling inventories and continued robust outlook for demand. All metals climbed as the Bloomberg Dollar Spot Index fell to the lowest since September, reinforcing sentiment in a market that’s being buoyed by signs of supply constraints and rebounding demand across the globe. The improving demand outlook has helped lift the Bloomberg Commodity Index toward the highest level in 11 months. Zinc prices gained as support continues as a dearth of mining investment in the recent years has resulted in a shortage of the refined metal. Zinc on MCX settled up 1.03% at 219.85 on fresh buying prices climbing to a fresh decade high on the back of a weaker US dollar and lower inventories. Overall it’s been a strong start of the year for the base metal, with prices increasing 1.4 percent year-to-date and more than 20 percent year-on-year. Market belive zinc prices might jump even further in 2018, as solid Chinese data, a weaker dollar and falling inventories continue to lend support. While from data point yesterday China’s economic growth is expected to have slowed slightly in the fourth quarter from the previous quarter, as the government extended a crackdown on debt risks and factory pollution. Oil markets near three-year highs, supported by healthy demand. Brent crude prices were on Tuesday settling in around $70 per barrel, levels last seen before the start of an oil market slump in late 2014. Prices have been driven up by production curbs in OPEC nations and Russia, as well as by robust demand on the back of healthy global economic growth."We have updated our supply/demand balances to reflect a faster-than-expected tightening in the global oil market due to improving cyclical conditions, cold winter weather, and higher than expected OPEC compliance," Bank of America Merrill Lynch (NYSE:BAC) said. In an effort to tighten markets and prop up prices, the Organization of the Petroleum Exporting Countries (OPEC) and Russia started to withhold production in January last year, and the cuts are set to last through 2018.
- 2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report - 16 JAN 2018 Precious Metals CS GOLD (FEB) OVERVIEW: CS SILVER (MAR) OVERVIEW: TREND : BULLISH TREND : BULLISH RESIST 2: 30050 RESIST 1: 29950 SUP 1: 29650 SUP 2: 29550 CS COPPER (FEB) OVERVIEW: TREND : SIDEWAYS RESIST 2: 466.00 RESIST 2: 825.00 RESIST 1: 463.00 RESIST 1: 820.00 SUP 1: 455.00 SUP 1: 795.00 SUP 2: 452.00 SUP 2: 790.00 TREND : BULLISH RESIST 2: 223.00 RESIST 2: 168.00 RESIST 1: 221.00 RESIST 1: 166.00 SUP 1: 216.00 SUP 1: 162.00 SUP 2: 214.00 SUP 2: 160.00 CS ALUMINIUM (JAN) OVERVIEW: TREND : SIDEWAYS RESIST 2: 143.00 RESIST 1: 142.00 SUP 1: 139.00 SUP 2: 138.00 WWW.CAPITALSTARS.COM +917316690000 Energies TREND : BULLISH RESIST 2: 207.00 RESIST 1: 204.00 SUP 1: 195.00 SUP 2: 192.00
- 3. CapitalStars Financial Research Pvt., Ltd., 3 SEBI Registration Number: INA000001647 MCX Daily Report - 16 JAN 2018 Capitalstars is a Sebi Registered &ISO Certified Company in Indore, they provide Equity, Commodity, Nifty & Forex trading calls with profit in your trading. GET MORE DETAILS HERE:- ∑ Stock Advisory Company ∑ Trading Tips ∑ Financial Advisory company ∑ Stock Tips ∑ Share Market Company ∑ Forex trading tips ∑ Currency Tips Also, you can visit:- capitalstars quick payment capitalstars career
- 4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report - 16 JAN 2018 Pick for the Day MCX Crude Oil Jan on Monday as seen in the daily chart opened at 4088 levels and day high of 4122 levels. During this period price corrected & made day low of 4066 levels finally closed at 4116 levels. Now, there are chances of further upside movement technically & fundamentally. ∑ Crude futures have also been supported by a weak dollar, which fell to its lowest level in three years late on Monday against a basket of other leading currencies. ∑ A weakening dollar often triggers investment into liquid commodity futures like gold and crude oil. ∑ The major factor that in late 2017 held back crude prices, the surge in U.S. production, has stalled at least temporarily as icy winter weather in North America has shut down some facilities. Instead of hitting 10 million bpd this month, as widely expected, U.S. production fell from 9.8 million bpd in December to 9.5 million bpd currently. DAILY RECOMMENDATION: Buy MCX CRUDE OIL JAN AROUND 4100 LEVELS FOR TARGET OF T1 4150/ T2 4170 WITH SL 4020 OF LEVELS.
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