CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
04TH JUNE 2019
News Highlights BULLION - Bullion counter may trade with upside bias as gold prices rose on Tuesday, holding near a more than three-month high hit in the previous session, as worries over a global recession due to trade conflicts drove investors to find refuge in safe-haven assets. U.S. Secretary of State Mike Pompeo said on Monday that the United States is seeking to "level the playing field" with China after decades of unfair trade practices, but his Dutch counterpart said tariffs would hurt international trade. Meanwhile, U.S. President Donald Trump said the tariffs that his administration has imposed on Chinese imports were not pushing up U.S. inflation and were prompting manufacturers in the Asian powerhouse to move elsewhere. Mexican officials said that Mexico can reach an agreement with the United States to resolve a dispute over migration that prompted U.S. President Donald Trump to threaten punitive tariffs, as high-level talks were set to begin in Washington. U.S. Treasury yields slip to their lowest levels since September 2017 following remarks from St. Louis Federal Reserve President James Bullard who said a U.S. rate cut may be "warranted soon" because of global trade tensions and weak U.S. inflation. ENERGY- Crude oil may remain in red as oil prices fell on Tuesday amid a global economic slowdown that is starting to hit oil demand, triggering calls in producer club OPEC for supply cuts to be extended. Crude oil futures are now around 20% below their 2018 peaks reached in late April. South Korea’s economy shrank by 0.4% in the first quarter while core inflation slowed to a near 20-year low in May, data showed on Tuesday, pointing to a further economic slowdown in Asia. Oil prices were under downward pressure as “the tight supply focus (is) switching to increased risk of lower growth and demand. The Middle East dominated producer club of the Organization of the Petroleum Exporting Countries (OPEC), together with some allies including Russia, has been withholding supply since the start of the year to prop up the market. U.S. natural gas futures fell to a three-year low on Monday as the amount of gas flowing to liquefied natural gas (LNG) export plants declined and amid expectations that near record production will allow utilities to refill inventories to near normal levels by the end of the summer. BASE METAL - Base metals may trade with sideways to weak bias. Industrial metals on Tuesday traded in tight range amid a lack of progress in the prolonged U.S.-China trade war and weak manufacturing data that sparked concerns of slowing global growth and demand for metals. Growth in U.S. manufacturing activity slowed in May to its weakest pace in over two years as factory managers raised concerns about a trade war between the United States and China, a national survey showed on Monday. Manufacturing activity in the euro zone contracted for a fourth month in May and at a faster pace, as the U.S.-China trade war, slumping automotive demand, Brexit and wider geopolitical uncertainty took their toll, a survey showed. Top aluminum producers have offered Japanese buyers premiums of $115-$120 a tone for July-September primary metal shipments, up 10%- 14% from the current quarter, amid tighter supply.
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
04TH JUNE 2019
MCX Daily Report Precious Metals CS GOLD (JUN) OVERVIEW: TREND : BULLISH RESIST 2: 32700 RESIST 1: 32600 SUP 1: 32300 SUP 2: 32100 WWW.CAPITALSTARS.COM +919977499927
CS SILVER (JUL) OVERVIEW: TREND : BULLISH RESIST 2: 37000 RESIST 1: 36800 SUP 1: 36500 SUP 2: 36300 WWW.CAPITALSTARS.COM +919977499927
Base Metals CS COPPER (JUN) OVERVIEW: TREND : BEARISH RESIST 2: 410.00 RESIST 1: 408.00 SUP 1: 404.00 SUP 2: 402.00 WWW.CAPITALSTARS.COM +919977499927
CS NICKEL (JUN) OVERVIEW: TREND : BULLISH RESIST 2: 888.00 RESIST 1: 875.00 SUP 1: 855.00 SUP 2: 848.00 WWW.CAPITALSTARS.COM +919977499927
CS ZINC (JUN) OVERVIEW: TREND : BEARISH RESIST 2: 209.00 RESIST 1: 205.00 SUP 1: 199.00 SUP 2: 197.00 WWW.CAPITALSTARS.COM +919977499927
CS LEAD (JUN) OVERVIEW: TREND : BULLISH RESIST 2: 151.00 RESIST 1: 150.00 SUP 1: 148.00 SUP 2: 147.00 WWW.CAPITALSTARS.COM +919977499927
CS ALUMINIUM (JUN) OVERVIEW: TREND : BEARISH RESIST 2: 146.00 RESIST 1: 144.00 SUP 1: 142.00 SUP 2: 140.00 WWW.CAPITALSTARS.COM +919977499927
Energy CS CRUDE OIL (JUN) OVERVIEW: TREND : BEARISH RESIST 2: 3840 RESIST 1:3780 SUP 1: 3660 SUP 2: 3600 WWW.CAPITALSTARS.COM +919977499927
CS NATURAL GAS (JUN) OVERVIEW: TREND : BEARISH RESIST 2: 175.00 RESIST 1: 171.00 SUP 1: 163.00 SUP 2: 160.00 WWW.CAPITALSTARS.COM +919977499927
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
04TH JUNE 2019
Pick for the DAY
MCX ALUMINIUM JUN on MONDAY as seen in the Daily chart opened at 145.10 levels and made day low of 142.40 Levels. During this period ALUMINIUM JUN High is 145.25 levels and finally closed at 142.60 levels. Now, there are chances of down movement technically & fundamentally.
DAILY RECOMMENDATION: SELL MCX ALUMINIUM JUN BELOW 142.90 LEVELS FOR TARGET OF 141.90/140.50 WITH SL 144 OF LEVELS.
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
04TH JUNE 2019
MCX Daily Report
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