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SEBI Registration Number: INA000001647
MCX Daily Report 26
TH
APR 2019
1
News Highlights
BULLION - Bullion counter may trade on positive note as gold rose on Friday on track for its
first weekly gain in five weeks as investors focused on signs of economic weakness after
dismal data from Germany and Asia although a strong dollar ahead of U.S. GDP data kept a lid
on gains. The dollar was also helped by data showing new orders for U.S.-made capital goods
increased by the most in eight months in March hitting their highest level on record. Japan’s
industrial output fell 0.9 percent in March from the previous month down for the first time in
two months government data showed on Friday. The U.S. Federal Reserve is done raising
interest rates until at least the end of next year while about a third of economists polled by
Reuters who had a view that far out predicted at least one rate cut by then.
ENERGY- Crude oil may witness some profit booking at higher levels as oil prices dipped on
Friday on expectations that producer club OPEC will soon raise output to make up for a
decline in exports from Iran following a tightening of sanctions by the United States against
Tehran. But prices were already gaining before the Russian disruption driven up by supply
cuts led by the Middle East dominated Organization of the Petroleum Exporting Countries
OPEC and U.S. sanctions against Venezuela and Iran. Crude futures are up around 40 percent
so far this year. Washington said on Monday it would end all exemptions for sanctions against
Iran demanding countries halt oil imports from Tehran from May or face punitive action from
Washington. To make up for the shortfall from Iran the United States is pressuring OPEC’s de-
facto leader Saudi Arabia to end its voluntary supply restraint. Despite U.S. efforts to drive
Iranian oil exports down to zero many analysts expect some oil to still seep out of the
country. U.S. natural gas futures rose following the release of a storage report that was mostly
in line with expectations but warmer-than-normal weather low heating demand and near-
record production kept a lid on prices.
BASE METAL - Base metals prices may trade with sideways to positive bias. London copper
prices on Friday inched away from a one-month low touched in the previous session buoyed
as the U.S. dollar eased from a two-year high. Sentiment was also supported by news that U.S.
President Donald Trump would soon host Chinese leader Xi Jinping at the White House
setting the stage for a possible agreement on trade between the world’s two largest
economies. Freeport-McMoRan Inc’s copper output fell 18 percent to around 340000 tonnes
in the first quarter while Anglo American’s production rose by 4 percent to 161100 tonnes.
Australian miner Aurelia Metals Ltd said it was in talks about a possible acquisition of
Glencore’s CSA copper mine in the state of New South Wales.
slide 2: CapitalStars Financial Research Pvt. Ltd.
SEBI Registration Number: INA000001647
MCX Daily Report 26
TH
APR 2019
2
CS GOLD JUN OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 32200
RESIST 1: 32000
SUP 1: 31700
SUP 2: 31600
WWW.CAPITALSTARS.COM +919977499927
CS SILVER MAY OVERVIEW:
TREND : BULLISH
RESIST 2: 37900
RESIST 1: 37700
SUP 1: 37200
SUP 2: 37000
WWW.CAPITALSTARS.COM +919977499927
Base Metals
CS COPPER APR OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 453.00
RESIST 1: 448.00
SUP 1: 442.00
SUP 2: 439.00
WWW.CAPITALSTARS.COM +919977499927
CS NICKEL APR OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 870.00
RESIST 1: 866.00
SUP 1: 860.00
SUP 2: 857.00
WWW.CAPITALSTARS.COM +919977499927
CS ZINC APR OVERVIEW:
TREND : BULLISH
RESIST 2: 235.00
RESIST 1: 233.00
SUP 1: 228.00
SUP 2: 225.00
WWW.CAPITALSTARS.COM +919977499927
CS LEAD APR OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 137.00
RESIST 1: 136.00
SUP 1: 134.00
SUP 2: 133.00
WWW.CAPITALSTARS.COM +919977499927
CS ALUMINIUM APR OVERVIEW:
TREND : BULLISH
RESIST 2: 155.00
RESIST 1: 154.00
SUP 1: 152.00
SUP 2: 151.00
WWW.CAPITALSTARS.COM +919977499927
Energy
CS CRUDE OIL MAY OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 4700
RESIST 1:4670
SUP 1: 4610
SUP 2: 4590
WWW.CAPITALSTARS.COM +919977499927
CS NATURAL GAS MAY OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 180.00
RESIST 1: 178.00
SUP 1: 172.00
SUP 2: 169.00
WWW.CAPITALSTARS.COM +919977499927
Precious Metals
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SEBI Registration Number: INA000001647
MCX Daily Report 26
TH
APR 2019
3
Pick for the DAY
MCX ZINC APR on THRUSDAY as seen in the Daily chart opened at 227.80 levels and made
day low of 227.40 Levels. During this period ZINC APR High is 232.05 levels and finally closed
at 231.80 levels. Now there are chances of up movement technically fundamentally.
DAILY RECOMMENDATION: BUY MCX ZINC APR ABOVE 232.50 LEVELS FOR TARGET
OF 234/235.50 WITH SL 231 OF LEVELS.
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SEBI Registration Number: INA000001647
MCX Daily Report 26
TH
APR 2019
4
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