Mcx daily report 3 jan 2018

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MCX Daily Report - 03 JAN 2018
News High lights
Gold Prices Gain In Asia As Geopolitical Tensions Aid Buying.
Gold prices gained in Asia on Wednesday as a Twitter taunt by President Donald
Trump to North Korean leader Kim Jong-un raised the stakes on nuclear weapons
policy. In his tweet, Trump said: "North Korean Leader Kim Jong Un just stated that
the “Nuclear Button is on his desk at all times.” Will someone from his depleted and
food starved regime please inform him that I too have a Nuclear Button, but it is a
much bigger & more powerful one than his, and my Button works!" Overnight, gold prices edged higher on
Tuesday amid ongoing dollar weakness, while rising geopolitical uncertainties supported sentiment, including
continued protests in Iran.
Analysis: Fire accident to cause nickel output loss at Jinchuan.
The workshop that caught fire at Jinchuan Group’s nickel smelter on New Year’s Eve has
an annual production capacity of 30,000 mt and it produces both refined nickel and
electrowinning nickel, SMM understood. Total nickel production for Jinchuan’s smelter is
targeted at 135,000 mt for 2018. Jinchuan’s other two workshops, however, do not have
the capability to produce the intermediates via hydrometallurgy. This means that output
of electrowinning nickel using the intermediates cannot be replaced by production at
workshops No.1 and No.2.
Zinc prices dropped on amid lack of voulme after prices rose as support seen on China’s tough environmental
stance underpinned expectations of zinc shortages.
Zinc on MCX settled down -0.38% at 211.8 on profit booking after prices seen supported seen after the global zinc
market is likely to remain in deficit in the years to come, as new mined supply and restarts are unable to offset
previous capacity closures. China's war on polluting industries, its supply reforms and robust demand growth have
this year combined to create a bonanza for all metals which are heading for their biggest rises since the turn of the
decade. However, prices slid on Friday as traders and funds took profits and squared their books ahead of the year
end.
Oil prices close to mid-2015 highs, but doubts over further rises loom.
Oil prices were stable on Wednesday, not far off mid-2015 highs reached the previous
session, as strong demand and ongoing efforts led by OPEC and Russia to curb production
tightened the market.Despite this, there were indicators that markets had overshot in the
last days of 2017 and trading this year, as U.S. production is set to rise further and doubts
are emerging about whether demand growth can continue at current levels. Ole Hansen, head of commodity
strategy at Denmark's Saxo Bank warned that "multiple but temporary supply disruptions" like the North Sea
Forties and Libyan pipeline outages (and) protests across Iran ... helped create a record speculative long bet." With
the pipeline outages resolved and the protests in Iran showing no signs of impacting its oil production.

Precious Metals
CS GOLD (FEB) OVERVIEW: CS SILVER (MAR) OVERVIEW:
TREND : BULLISH TREND : BULLISH
RESIST 2: 29450 RESIST 2: 39800
RESIST 1: 29350 RESIST 1: 39600
SUP 1: 29050 SUP 1: 38800
SUP 2: 28950 SUP 2: 38600
WWW.CAPITALSTARS.COM +917316690000 WWW.CAPITALSTARS.COM +917316690000
Base Metals
CS COPPER (FEB) OVERVIEW: CS NICKEL (JAN) OVERVIEW:
TREND : BEARISH TREND : BEARISH
RESIST 2: 465.00 RESIST 2: 815.00
RESIST 1: 462.00 RESIST 1: 810.00
SUP 1: 454.00 SUP 1: 780.00
SUP 2: 451.00 SUP 2: 775.00
CS ZINC (JAN) OVERVIEW: CS LEAD (JAN) OVERVIEW:
TREND : BULLISH TREND : SIDEWAYS
RESIST 2: 217.00 RESIST 2: 167.00
RESIST 1: 215.00 RESIST 1: 165.00
SUP 1: 210.00 SUP 1: 160.00
SUP 2: 208.00 SUP 2: 158.00
CS ALUMINIUM (JAN) OVERVIEW:
TREND : BEARISH
RESIST 2: 145.00
RESIST 1: 144.00
SUP 1: 141.00
SUP 2: 140.00
WWW.CAPITALSTARS.COM +917316690000
Energies
CS CRUDE OIL (JAN) OVERVIEW: CS NATURAL GAS (JAN) OVERVIEW:
TREND : SIDEWAYS TREND : BULLISH
RESIST 2: 3910 RESIST 2: 202.00
RESIST 1: 3870 RESIST 1: 199.00
SUP 1: 3800 SUP 1: 189.00
SUP 2: 3760 SUP 2: 186.00

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Pick for the Day
MCX Crude Oil Jan on Tuesday as seen in the daily chart opened at 3866 levels and
day high of 3866 levels. During this period price corrected & made day low of 3817
levels finally closed at 3824 levels. Now, there are chances of further upside
movement technically & fundamentally.
∑ There was also some concern that output by Russia, the world's biggest oil
producer and one of the key drivers together with the Organization of the
Petroleum Exporting Countries (OPEC) in cutting supplies, was in fact not falling.
∑ As part of the supply cut deal, Russia pledged to reduce its output by 300,000 bpd
from the 30-year monthly high of 11.247 million bpd hit in October 2016, which it
achieved by the second quarter of 2017, according to Russian energy ministry data.
DAILY RECOMMENDATION: Buy MCX CRUDE OIL JAN AROUND 3810 LEVELS
FOR TARGET OF T1 3860/ T2 3880 WITH SL 3730 OF LEVELS.

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Mcx daily report 3 jan 2018

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