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Mcx daily report 22 jan 2018
- 1. CapitalStars Financial ResearchPvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report -22 JAN 2018 News High lights Gold Prices Inch Up In Asia As US Shutdown Weighs On Dollar Views. Gold prices rose slightly in Asia on Monday with the market awaiting word on a possible deal for a Senate vote to end the US government shutdown that has weighed on the dollar and raised interest in greenback-denominated commodities such as the yellow metal. The US government shutdown on Saturday extends into the new week with all but essential services curbed and many of the regularly schedule data releases possibly delayed if the failure to provide stopgap funding continues. The Bank of Japan starts a two-day monetary policy meeting with the decision on Tuesday expected to be closely watched for any signs the aggressive easing stance could be dialed back this year. Investors will be focused on the outcome of monetary policy meetings by the ECB and fourth quarter growth from both the U.S., if it is released during the shutdown, and the UK. Canadian inflation data will also be in focus after last week's rate hike by the country’s central bank. Historical data show dip in LME aluminium prices following US government shutdowns. Historical data show a dip in LME aluminium prices following US government shutdowns from 1990. From October 5-9, 1990, LME aluminium fell 2.3%, or $43/mt, that week when President George Herbert Walker Bush vowed to deny any sustainable bills excluding deficit cut scheme, which leads to four-day shutdown of the government. LME aluminium fell 2.3%, or $43/mt, that week. LME aluminium dipped 0.1%, or $2/mt, in the week of November 13-19, 1995 when the government shut down for five days. Nickel prices gained buoyed by the first acceleration in China's GDP growth in seven years. Nickel on MCX settled up 1.55% at 807.8 buoyed by the first acceleration in China's GDP growth in seven years. China's economy grew faster than expected in the fourth quarter of 2017, as an export recovery helped the country post its first annual acceleration in growth in seven years. The decline in nickel ore shipments to China from the Philippines was mainly due to bad weather in Tawi-Tawi while the impact of environmental protection issues in Zambales was rather small. News reports suggested that four nickel ore miners in Zambales were involved in local environmental disputes and shipments from the region have been affected. Oil rises as Saudi Arabia says producers will cooperate beyond 2018. Oil prices climbed on Monday, pushed higher by comments from Saudi Arabia that cooperation between oil producers who are currently withholding supplies would continue beyond 2018. Strong global economic growth and a drop in U.S. drilling activity also supported crude, traders said.Saudi Arabia, the world's top oil exporter and de-facto leader of the Organization of the Petroleum Exporting Countries (OPEC), said on Sunday major oil producers were in agreement they should continue cooperating on production after their deal on supply cuts expires this year. "There is a readiness to continue cooperation beyond 2018...The mechanism hasn't been determined yet, but there is a consensus to continue," Saudi Arabia's Energy Minister Khalid al-Falih said in Oman.
- 2. CapitalStars Financial ResearchPvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report - 22 JAN 2018 Precious Metals CS GOLD (FEB) OVERVIEW: CS SILVER (MAR) OVERVIEW: TREND : SIDEWAYS RESIST 2: 30000 RESIST 1: 29900 SUP 1: 29600 SUP 2: 29500 CS COPPER (FEB) OVERVIEW: TREND : SIDEWAYS RESIST 2: 459.00 RESIST 2: 830.00 RESIST 1: 456.00 RESIST 1: 825.00 SUP 1: 448.00 SUP 1: 795.00 SUP 2: 445.00 SUP 2: 790.00 TREND : SIDEWAYS RESIST 2: 224.00 RESIST 2: 169.00 RESIST 1: 222.00 RESIST 1: 167.00 SUP 1: 217.00 SUP 1: 163.00 SUP 2: 215.00 SUP 2: 161.00 CS ALUMINIUM (JAN) OVERVIEW: TREND : SIDEWAYS RESIST 2: 145.00 RESIST 1: 143.50 SUP 1: 140.50 SUP 2: 139.00 WWW.CAPITALSTARS.COM +917316690000 Energies TREND : SIDEWAYS TREND : BULLISH RESIST 2: 215.00 RESIST 1: 212.00 SUP 1: 203.00 SUP 2: 200.00
- 3. CapitalStars Financial ResearchPvt., Ltd., 3 SEBI Registration Number: INA000001647 MCX Daily Report - 22 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 ResearchPvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report -22 JAN 2018 Pick for the Day MCX Crude Oil Jan on Friday as seen in the daily chart opened at 4080 levels and day high of 4080 levels. During this period price corrected & made day low of 4011 levels finally closed at 4037 levels. Now, there are chances of further downside movement technically & fundamentally. ∑ A group of oil producers including OPEC and Russia, the world's biggest crude producer, started to withhold production in January last year to prop up prices. The deal is set to expire at the end of 2018. In the United States, declining drilling activity for new oil production further supported crude. U.S. drillers cut five oil rigs in the week to Jan. 19, bringing the count down to 747, energy services firm Baker Hughes said on Friday. ∑ Despite this, the rig count in 2017 and early this year remains much higher than in 2016, resulting in a 16 percent rise in U.S. production since mid-2016, to 9.75 million barrels per day. Beyond supplies, strong global economic growth was also supporting oil prices. DAILY RECOMMENDATION: SELL MCX CRUDE OIL FEB AROUND 4070 LEVELS FOR TARGET OF T1 4020/ T2 4000 WITH SL 4150 OF LEVELS.
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