Mcx daily report -_18_july_2017

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MCX Daily Report - 18 JULY 2017
News High lights
Gold continues to gain ground on strong data, weak dollar.
Gold continue to gain ground on Tuesday in Asia a day after China reported
strong second quarter GDP, industrial output and retail sales figures for June
with industrial metal demand for housing and property development also in
focus. A weaker dollar has helped shore up sentiment and gold prices. The
market will now look towards Thursday and a meeting of the European Central
Bank for fresh clues on when the central bank will shift away from its ultra-
easy policy. Markets in Japan are shut on Monday for a holiday. Last week, gold prices rose to two-week highs on
Friday as weak U.S. inflation data added to doubts over whether the Federal Reserve would raise interest rates
for a third time this year.
SMM: China Aluminum Stocks Hit Over 4-Year High.
Aluminium ingot stocks in China’s five major markets have reached the highest level in
nearly five years, SMM statistics showed. Potential Surplus from Aluminium Capacity
Cuts to Weigh on Alumina Prices, SMM Warns. Downstream producers showed low
buying interest due to falling orders, and impact from production cuts has not been
felt, leading to the growth, SMM explained. Profit Expands Sharply at Chinese
Aluminum Smelters, SMM Says.
Norilsk Nickel Mine Explosion Kills Four and Eyes on Impact on Relocation Plan.
Four miners were killed in an explosion at the Zapolyarny Mine, part of the Polar Division of Norilsk Nickel,
foreign media reported. China Nickel Ore Inventories Fall, SMM Reports. The company said the accident is not
expected to influence ore shipments due to its low percentage of company’s total output. In 2016, nickel
production at the Zapolyarny Mine accounted for 0.7 per cent of its total, and 2 per cent of its copper output, so
no a major impact is expected on Norilsk's output and profit, even if the mine closes.
Oil prices stable as strong demand meets ongoing supply glut.
Oil prices were stable on Tuesday, supported by strong consumption but weighed by
ongoing high supplies from producer club OPEC and also the United States.In a sign
of strong demand, data on Monday showed refineries in China increased crude
throughput in June to the second highest on record. Despite this, oil markets have
struggled with oversupply since 2014, resulting in a more than 50 percent fall in
prices since then. A deal by the Organization of the Petroleum Exporting Countries
with Russia and other non-OPEC producers to cut supplies by around 1.8 million
barrels per day (bpd) between January this year and March 2018 has so far not led to
the tighter market and higher prices that producers have hoped for.

MCX Daily Report -18 JULY 2017
CS GOLD (AUG) OVERVIEW: CS SILVER (SEP) OVERVIEW:
TREND : BULLISH TREND : BULLISH
RESIST 2: 28450 RESIST 2: 38200
RESIST 1: 28350 RESIST 1: 38000
SUP 1: 28000 SUP1: 37000
SUP 2: 27900 SUP2: 36800
WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000
Base Metals
CS COPPER (AUG) OVERVIEW: CS NICKEL (JULY) OVERVIEW:
TREND : SIDEWAYS TREND : BULLISH
RESIST 2: 396.00 RESIST 2: 632.00
RESIST 1: 392.00 RESIST 1: 628.00
SUP1: 385.00 SUP1: 614.00
SUP2: 381.00 SUP2: 610.00
CS ZINC (JULY) OVERVIEW: CS LEAD (JULY) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 186.00 RESIST 2: 152.00
RESIST 1: 184.00 RESIST 1: 150.00
SUP1: 178.00 SUP1: 145.00
SUP2: 176.00 SUP2: 143.00
CS ALUMINIUM (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 125.00
RESIST 1: 124.00
SUP1: 121.00
SUP2: 120.00
WWW.CAPITALSTARS.COM +917316790000
Energies
CS CRUDE OIL (JULY) OVERVIEW: CS NATURAL GAS (JULY) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 3060 RESIST 2: 201.00
RESIST 1: 3020 RESIST 1: 198.00
SUP1: 2900 SUP1: 192.00
SUP2: 2860 SUP2: 189.00

MCX Daily Report -18 JULY 2017
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Pick for the Day
MCX Crude Oil July Monday as seen in the daily chart opened at 3005 levels and day
high of 3020 levels. During this period price corrected & made day low of 2964 levels
finally closed at 2972 levels. Now, there are chances of further downside movement
technically & fundamentally.
 In Asia, China's refinery activity continued to indicate strong fuel demand, as data showed
oil refineries increased throughput in June to the second highest on record.

 The bullish data from China, coincided with a report from the International Energy Agency
released last week, suggesting that stronger consumption in the second half of the year
could offset the glut in supply.
DAILY RECOMMENDATION: Sell MCX CRUDE OIl July AROUND 3000 LEVELS FOR TARGET
OF T1 2900/T2 2850 WITH SL OF 3150 LEVELS.

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Mcx daily report -_18_july_2017

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