The document provides a daily report on commodity markets from CapitalStars Financial Research Pvt. Ltd. It highlights that gold prices rose for a second day due to US dollar weakness and rising Indian demand. It also notes that copper prices fell as risk-averse sentiment grew and long positions were liquidated. LME nickel inventory dropped by over 100,000 metric tons. The report provides an overview of trends and support and resistance levels for various commodities trading on the MCX, and recommends a short sell on nickel below 891 levels, with a target of 881/871.

1. CapitalStars Financial Research Pvt., Ltd., 1
SEBI Registration Number: INA000001647
MCX Daily Report 17 Sep 2018
News Highlights
Gold rises for second day on USD weakness and rising demand from India.
Gold turned negative on Friday, as the U.S. dollar rose against the Chinese yuan after U.S.
President Donald Trump reportedly told aides to proceed with tariffs on Chinese imports.
Trump has directed aides to place tariffs on about $200 billion of Chinese goods, according
to a person familiar with the matter. Bloomberg News first reported Trump's action. think
that's what's driving gold lower, the dollar higher and the S&P market lower," said Michael
Matousek, head trader at U.S. Global Investors. "Companies are theoretically going to make
less money because they will get that tax."
Copper was suggesting that risk-averse sentiment grew enthusiasm across longs to
liquidate their positions.
As longs covered their positions, the SHFE 1811 contract fell to settle at 48,420 yuan/mt,
near its intraday low, after it climbed to a high of 48,680 yuan/mt. A total of 258 million yuan
flowed out of the SHFE copper contracts today, suggesting that risk-averse sentiment grew
enthusiasm across longs to liquidate their positions. Open interests for September-December
contracts shrank close to 17,000 lots, compared to a 12,756-lot decline in open interest for
all SHFE copper contracts. Technically, the 1811 contract broke the middle Bollinger band to
stand above 48,000 yuan/mt and touched the 40-day moving average.
LME nickel inventory dropped 103,820 mt.
The SHFE 1811 contract dropped to 103,510 yuan/mt and closed at 103,820 yuan/mt after it
rose to a high of 104,220 yuan/mt. Its KDJ lines expanded upwards while the MACD green
line shortened. We expect the contract to hover around 103,800 yuan/mt.
Oil mixed as China tariff talk scotches early rally.
Oil on Friday clawed back some of its losses from the previous session, when prices fell the
most in a month, as concerns about oil supply are countering worries that emerging market
crises and trade disputes could dent demand. Brent crude was up 8 cents, or 0.1 percent, at
$78.26 a barrel, after falling 2 percent on Thursday. The global benchmark rose on
Wednesday to its highest since May 22 at $80.13. U.S. West Texas Intermediate (WTI)
futures were up 18 cents, or 0.2 percent, at 68.76 a barrel, after dropping 2.5 percent on
Thursday. Brent is heading for a 1.8 percent gain this week, while WTI is on track for a 1.5
percent increase. Washington re-imposed some of the financial sanctions from Aug. 6, while
those affecting Iran's petroleum sector will come into force from Nov. 4. Refiners in India,
traditionally major buyers of Iranian crude, will cut their monthly loadings from Iran for
September and October by nearly half from earlier this year.

2. CapitalStars Financial Research Pvt., Ltd.,
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SEBI Registration Number: INA000001647
MCX Daily Report 17 Sep 2018
Precious Metals
CS GOLD (OCT) OVERVIEW: CS SILVER (DEC) OVERVIEW:
TREND : BULLISH TREND : SIDEWAYS
RESIST 2: 30750 RESIST 2: 37400
RESIST 1: 30650 RESIST 1: 37200
SUP 1:30450 SUP 1: 36900
SUP 2:30350 SUP 2: 36700
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Base Metals
CS COPPER (NOV) OVERVIEW: CS NICKEL (SEP) OVERVIEW:
TREND : BULLISH TREND : BEARISH
RESIST 2:434.00 RESIST 2: 918.00
RESIST 1:430.00 RESIST 1: 910.00
SUP 1: 423.00 SUP 1: 892.00
SUP 2: 418.00 SUP 2: 880.00
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CS ZINC (SEP) OVERVIEW: CS LEAD (SEP) OVERVIEW:
TREND : BEARISH TREND : SIDEWAYS
RESIST 2:170.00 RESIST 2: 151.00
RESIST 1: 168.00 RESIST 1: 149.00
SUP 1: 165.00 SUP 1: 146.00
SUP 2: 163.00 SUP 2: 144.00
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CS ALUMINIUM (SEP) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 149.00
RESIST 1: 148.00
SUP 1: 147.00
SUP 2: 145.50
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Energies
CS CRUDE OIL (SEP) OVERVIEW: CS NATURAL GAS (SEP) OVERVIEW:
TREND : BULLISH TREND : BEARISH
RESIST 2: 5040 RESIST 2: 204.00
RESIST 1: 4990 RESIST 1: 202.50
SUP 1: 4930 SUP 1: 198.00
SUP 2: 4880 SUP 2: 196.00
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4. CapitalStars Financial Research Pvt., Ltd., 3
SEBI Registration Number: INA000001647
MCX Daily Report 17 Sep 2018
Pick for the DAY
MCX NICKEL SEP on Friday as seen in the Daily chart opened at 903
levels and made day Low of 892 levels. During this period NICKEL
came up to 892 levels and finally closed at 893.40 levels. Now, there
are chances of down movement technically & fundamentally.
 The SHFE 1811 contract dropped to 103,510 yuan/mt and closed at
103,820 yuan/mt after it rose to a high of 104,220 yuan/mt.
DAILY RECOMMENDATION: SELL MCX NICKEL SEP BELOW
891 LEVELS FOR TARGET OF 881/871 WITH SL 910 OF LEVELS.

5. CapitalStars Financial Research Pvt., Ltd., 4
SEBI Registration Number: INA000001647
MCX Daily Report 17 Sep 2018
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