CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
04TH JULY 2019
News Highlights BULLION - Bullion counter may trade on sideways path. Gold prices were steady on Thursday after hitting a one-week high in the previous session, as gains in stock markets offset support from a weaker dollar and prospects of an interest rate cut by the U.S. Federal Reserve. European Union leaders nominated IMF chief Christine Lagarde as Mario Draghi’s replacement at the helm of the European Central Bank after marathon talks that have exposed deep divisions in the bloc. German 10-year Bund yields were at record lows and the U.S. benchmark yields are also falling on government monetary policy, giving the equity markets a boost and taking away investor interest from gold. U.S. Treasury yields fell on Wednesday with yields on U.S. benchmark 10-year Treasury notes hitting their lowest in over 2-1/2 years as euro zone yields tumbled on record lows on bets the European Central Bank’s next chief would stay a dovish course to help the euro zone economy. ENERGY- Crude oil may trade on weaker path as oil prices inched lower on Thursday after solid gains the day before, pressured by data showing a smaller-than-expected decline in U.S. crude stockpiles. U.S. crude inventories dropped by 1.1 million barrels last week, the Energy Information Administration (EIA) said on Wednesday. That compared with analyst expectations for a decrease of 3 million barrels. But crude prices were underpinned after 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. U.S. natural gas futures rose over 2% on Wednesday on forecasts for higher demand this week and record liquefied natural gas (LNG) exports over the next two weeks. BASE METAL - Base metals may trade with sideways bias. Base metals on the London Metal Exchange (LME) rose on Thursday following news that the United States and China are set to hold trade talks next week. Top U.S. and Chinese representatives are arranging to talk again next week, U.S. administration officials said on Wednesday, in a move to try to resolve a year-long trade war that has been weighing on global growth and metals demand. Base metals' complex were also supported by hopes that the U.S. Federal Reserve would cut interest rates this month after data from multiple sectors pointed to a slowing economic growth in the U.S. The U.S. trade deficit jumped in May and trade tensions between the United States and China helped drive activity in the services sector to a two-year low in June, further signs that economic growth slowed sharply in the second quarter.
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
04TH JULY 2019
MCX Daily Report Precious Metals CS GOLD (AUG) OVERVIEW: TREND : BULLISH RESIST 2: 34600 RESIST 1: 34400 SUP 1: 34100 SUP 2: 34000 WWW.CAPITALSTARS.COM +919977499927
CS SILVER (SEP) OVERVIEW: TREND : BULLISH RESIST 2: 38300 RESIST 1: 38100 SUP 1: 37800 SUP 2: 37600 WWW.CAPITALSTARS.COM +919977499927
Base Metals CS COPPER (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 446.00 RESIST 1: 444.00 SUP 1: 438.00 SUP 2: 434.00 WWW.CAPITALSTARS.COM +919977499927
CS NICKEL (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 896.00 RESIST 1: 890.00 SUP 1: 872.00 SUP 2: 861.00 WWW.CAPITALSTARS.COM +919977499927
CS ZINC (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 200.00 RESIST 1: 199.00 SUP 1: 196.00 SUP 2: 195.00 WWW.CAPITALSTARS.COM +919977499927
CS LEAD (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 154.00 RESIST 1: 153.00 SUP 1: 152.00 SUP 2: 151.00 WWW.CAPITALSTARS.COM +919977499927
CS ALUMINIUM (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 143.00 RESIST 1: 142.00 SUP 1: 141.00 SUP 2: 140.00 WWW.CAPITALSTARS.COM +919977499927
Energy CS CRUDE OIL (JUL) OVERVIEW: TREND : BEARISH RESIST 2: 4000 RESIST 1:3970 SUP 1: 3890 SUP 2: 3840 WWW.CAPITALSTARS.COM +919977499927
CS NATURAL GAS (JUL) OVERVIEW: TREND : SIDEWAYS RESIST 2: 161.00 RESIST 1: 159.00 SUP 1: 155.00 SUP 2: 153.00 WWW.CAPITALSTARS.COM +919977499927
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
MCX Daily Report
04TH JULY 2019
Pick for the DAY
MCX LEAD JUL on WEDNESDAY as seen in the Daily chart opened at 152.40 levels and made day low of 152.00 Levels. During this period LEAD JUL High is 153.25 levels and finally closed at 152.30 levels. Now, there are chances of down movement technically & fundamentally.
DAILY RECOMMENDATION: SELL MCX LEAD JUL BELOW 152.05 LEVELS FOR TARGET OF 151/150 WITH SL 153.20 OF LEVELS.
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CapitalStars Financial Research Pvt., Ltd., SEBI Registration Number: INA000001647
04TH JULY 2019
MCX Daily Report
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