CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
03RD JULY 2019
News Highlights BULLION - Bullion counter may trade on positive path as gold prices climbed over 1% to hit a one-week high on Wednesday, helped by a subdued dollar as renewed concerns over global trade encouraged safe-haven demand and drove down U.S. yields. U.S. interest rate futures extended their earlier gains on Tuesday, as traders raised their bets the Federal Reserve would lower borrowing costs by 50 basis points at end of July following comments from Bank of England Governor Mark Carney. Carney said a global trade war and a no-deal Brexit were growing risks to Britain's economy which might need more help to cope with a downturn, prompting investors to increase their bets on a BoE interest rate cut. India's gold imports rose 12.6% in June from a year earlier to $2.69 billion amid a jump in global prices to six-year highs, a government source said on Tuesday. White House trade adviser Peter Navarro said on Tuesday U.S. trade talks with China are heading in the right direction and it will take time to get the right deal made . ENERGY- Crude oil may trade on weaker path as oil prices edged higher on Wednesday, steadying after a more than 4% fall in the previous session, as extended output cuts by OPEC and its allies helped underpin prices despite growing concerns about weak demand. An expected large draw in crude oil inventory in the United States also buoyed sentiment after a bigger-than-expected fall in inventories in a private survey. The Organization of the Petroleum Exporting Countries and other producers such as Russia, a group known as OPEC+, agreed on Tuesday to extend oil supply cuts until March 2020 as members overcame differences to try to prop up prices. The Organization of the Petroleum Exporting Countries and other producers such as Russia, a group known as OPEC+, agreed on Tuesday to extend oil supply cuts until March 2020 as members overcame differences to try to prop up prices. BASE METAL - Base metals may trade with sideways to weak bias. The U.S. Commerce Department said on Tuesday it would impose duties of up to 456% on certain steel produced in South Korea or Taiwan that are then shipped to Vietnam for minor processing and finally exported to the United States. Aluminum producer Alcoa Corp said on Tuesday it expects to incur a charge of between $40 million and $50 million in the second half of 2019, related to restarting operations at its Canadian smelter in Becancour, Quebec.
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
03RD JULY 2019
MCX Daily Report Precious Metals CS GOLD (AUG) OVERVIEW: TREND : BULLISH RESIST 2: 34300 RESIST 1: 34200 SUP 1: 33800 SUP 2: 33500 WWW.CAPITALSTARS.COM +919977499927
CS SILVER (JUL) OVERVIEW: TREND : BULLISH RESIST 2: 37400 RESIST 1: 37200 SUP 1: 36800 SUP 2: 36500 WWW.CAPITALSTARS.COM +919977499927
Base Metals CS COPPER (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 446.00 RESIST 1: 442.00 SUP 1: 437.00 SUP 2: 435.00 WWW.CAPITALSTARS.COM +919977499927
CS NICKEL (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 888.00 RESIST 1: 878.00 SUP 1: 862.00 SUP 2: 856.00 WWW.CAPITALSTARS.COM +919977499927
CS ZINC (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 201.00 RESIST 1: 200.00 SUP 1: 197.00 SUP 2: 196.00 WWW.CAPITALSTARS.COM +919977499927
CS LEAD (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 155.00 RESIST 1: 154.00 SUP 1: 152.00 SUP 2: 151.00 WWW.CAPITALSTARS.COM +919977499927
CS ALUMINIUM (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 144.00 RESIST 1: 142.00 SUP 1: 140.00 SUP 2: 139.00 WWW.CAPITALSTARS.COM +919977499927
Energy CS CRUDE OIL (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 4190 RESIST 1:4070 SUP 1: 3870 SUP 2: 3790 WWW.CAPITALSTARS.COM +919977499927
CS NATURAL GAS (JUL) OVERVIEW: TREND : SIDEWAYS RESIST 2: 160.00 RESIST 1: 158.00 SUP 1: 154.00 SUP 2: 152.00 WWW.CAPITALSTARS.COM +919977499927
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
03RD JULY 2019
Pick for the DAY
MCX NICKEL JUL on TUESDAY as seen in the Daily chart opened at 881.00 levels and made day low of 865.30 Levels. During this period NICKEL JUL High is 881.00 levels and finally closed at 868.80 levels. Now, there are chances of down movement technically & fundamentally.
DAILY RECOMMENDATION: SELL MCX NICKEL JUL BELOW 871 LEVELS FOR TARGET OF 861/850 WITH SL 891 OF LEVELS.
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
03RD JULY 2019
MCX Daily Report
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