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Mcx daily report 20 dec 2017
- 1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report -20 DEC 2017 News High lights Gold Prices Gain Slightly In Asia As US Tax Cuts Hit Slight Snag. Gold prices gained in Asia on Wednesday after snag in passage of US tax cuts linked to a procedural issue in the Senate kept markets on edge even as most analysts say the bill will still pass this week. Overnight, gold prices edged lower on Tuesday weighed by a rally in Treasuries on growing optimism surrounding the outcome of the tax bill vote, and solid housing data pointing to underlying economic strength. Despite the weaker dollar, a rebound in US Treasuries following stronger-than-expected housing data, limited gains in the precious metal. Gold prices have added to recent gains after notching a two-week winning streak last week despite data showing traders continued to abandon their bullish bets on the yellow metal. SMM Analysis: Zinc oxide output hit by natural gas shortage. The operating rate of zinc oxide plants across China has dropped to an average of 53.8% in November, from 57.9% in October, according to SMM research. Output in major zinc oxide producing provinces including Shandong, Hebei and Jiangsu have been limited due to short supply of natural gas. This followed the nationwide gas rationing measures in the winter season due to rising consumption and logistics difficulties. Better auto sales toward the year-end have not helped much for the production of zinc oxide. Nickel prices dropped on profit booking after prices rallied in last session after China cut duties on some steel Spices exports. Nickel on MCX settled down -0.42% at 752.20 eased as traders booked profits on a rally to three-week peaks the session before that was fuelled by changes to China's steel export duties. While on Monday prices rallied through the 100-day moving average on Monday after China cut duties on some steel exports, pushing investors to close short positions ahead of the holiday. While sentiments remain firm for prices after the World Bank report that raised its forecast for China's economic growth in 2017 to 6.8 percent from 6.7 percent it projected in October, as personal consumption and foreign trade supported growth. Oil edges up on North Sea pipeline outage, lower U.S. crude stocks. Oil prices inched up on Wednesday, supported by expectations of a fall in U.S. crude inventories and by the ongoing outage of the North Sea Forties pipeline system. "Oil prices inched higher on expectations of another strong drawdown in U.S. inventories," ANZ bank said. Oil prices have also been supported by the continuing outage of the Forties pipeline in the North Sea, which delivers crude underpinning Brent futures. Operator Ineos hopes to be able to fix a crack in the pipeline, which can pump around 450,000 barrels per day of crude, within two to four weeks from Dec. 11. Most analysts expect U.S. output to break through 10 million bpd soon, which would be a new record and take it to levels on par with top exporter Saudi Arabia and close to top producer Russia, which pumps around 11 million bpd.
- 2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report - 20 DEC 2017 Precious Metals CS GOLD (FEB) OVERVIEW: CS SILVER (MAR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 28700 RESIST 1: 28600 SUP 1: 28300 SUP 2: 28200 CS COPPER (FEB) OVERVIEW: CS NICKEL (DEC) OVERVIEW: TREND : BULLISH TREND : BULLISH RESIST 2: 455.00 RESIST 2: 775.00 RESIST 1: 452.00 RESIST 1: 770.00 SUP 1: 444.00 SUP 1: 740.00 SUP 2: 441.00 SUP 2: 735.00 CS LEAD (DEC) OVERVIEW: TREND : BULLISH TREND : BULLISH RESIST 2: 211.00 RESIST 2: 168.00 RESIST 1: 209.00 RESIST 1: 166.00 SUP 1: 204.00 SUP 1: 162.00 SUP 2: 202.00 SUP 2: 160.00 CS ALUMINIUM (DEC) OVERVIEW: TREND : BULLISH RESIST 2: 136.00 RESIST 1: 135.00 SUP 1: 132.00 SUP 2: 131.00 WWW.CAPITALSTARS.COM +917316690000 Energies TREND : SIDEWAYS RESIST 2: 184.00 RESIST 1: 180.00 SUP 1: 171.00 SUP 2: 167.00
- 3. CapitalStars Financial Research Pvt., Ltd., 3 SEBI Registration Number: INA000001647 MCX Daily Report -20 DEC 2017 Pick for the Day MCX Crude Oil Jan on Tuesday as seen in the daily chart opened at 3686 levels and day high of 3702 levels. During this period price corrected & made day low of 3668 levels finally closed at 3698 levels. Now, there are chances of further sideways movement technically & fundamentally. ∑ Rising Middle East geopolitical tensions raised the prospect of supply disruptions after reports suggested that a missile was fired at Riyadh from Yemen. “Coalition forces confirm intercepting an Iranian-Houthi missile targeting (the) south of Riyadh. There are no reported casualties at this time,” the government-run Center for International Communication wrote on its Twitter account. ∑ Reports of the missile launch come as investors digested an update from operator of the Forties pipeline Ineos who said Tuesday that the timeframe for the fix remained two to four weeks starting from Dec. 11, the date of the shutdown. DAILY RECOMMENDATION: Buy MCX CRUDE OIL JAN AROUND 3680 LEVELS FOR TARGET OF T1 3730/ T2 3750 WITH SL 3600 OF LEVELS.
- 4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report - 20 DEC 2017 2 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
- 5. CapitalStars Financial Research Pvt., Ltd., 5 SEBI Registration Number: INA000001647 MCX Daily Report -20 DEC 2017 Disclaimer The information and views in this report & all the service we provide are believed to be reliable, but we do not accept any responsibility for errors of fact or opinion. Investors have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. My research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Capital Stars shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of regulators. The price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Investment & Trading in Securities Markets are always subjected to market risk. Capitalstars Financial Research Private Ltd., Reserves all Rights. CONTACT US REGISTERED OFFICE Capitalstars Financial Research Private Limited PLOT NO.12, SCHEME NO.78 PART-II, VIJAY NAGAR, INDORE Email :- backoffice@capiltalstars.in Report Is Checked By Investment Advisor :