mcx report 3 may 2019

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Bullion counter may trade on sideways bias as gold steadied near a four-month low on Friday, as comments from U.S. Federal Reserve Chairman Jerome Powell reduced expectations of a near-term rate cut, putting bullion on track for a weekly fall.

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CapitalStars Financial Research Pvt. Ltd. SEBI Registration Number: INA000001647 MCX Daily Report 03 RD MAY 2019 1 News Highlights BULLION - Bullion counter may trade on sideways bias as gold steadied near a four-month low on Friday as comments from U.S. Federal Reserve Chairman Jerome Powell reduced expectations of a near-term rate cut putting bullion on track for a weekly fall. The dollar looked set to end the week with a firmer tone on Friday as markets scaled back bets on a U.S. rate cut though much depends on what jobs data due later in the session says about the health of the economy and wages. On Wednesday the U.S. Fed held interest rates steady with Chairman Jerome Powell further stating there was no need for any readjustment in prices anytime soon and that inflation risks were based on transitory factors. U.S. worker productivity increased at its fastest pace in more than four years in the first quarter depressing labour costs and suggesting inflation could remain benign for a while. ENERGY- Crude oil may continue to extend losses as oil prices fell slipped on Friday extending a steep fall from the previous session on surging U.S. output and an expected supply increase from producer club OPEC and putting crude on track for a second week of declines. U.S. crude oil production reached a record 12.3 million barrels per day bpd last week EIA rising by around 2 million bpd over the past year. U.S. crude exports broke through 3 million bpd for the first time this year according to data from the Energy Information Administration. Rising U.S. oil production has helped offset some of the disruptions from U.S. sanctions against Iran and Venezuela and from supply cuts led by the Middle East-dominated producer club of the Organization of the Petroleum Exporting Countries OPEC which started in January. Despite these disruptions and sharp oil price rises in the first months of this year some analysts say the long-term price risk to crude oil is skewed to the downside. U.S. natural gas futures on Thursday fell from a two-week high after a federal report showed a much bigger-than-normal storage build last week that exceeded expectations. The U.S. Energy Information Administration EIA said utilities added 123 billion cubic feet bcf of gas to inventories during the week ended April 26. That was the biggest build this early in the injection season according to EIA data going back to 1994. BASE METAL - Base metals prices may trade with sideways to upside bias. Copper prices and other industrial metals rebounded slightly on Friday in thin Labour Day holiday trade with electric vehicle maker Tesla Inc expecting a global shortage for nickel and copper. Copper has been under pressure on uncertain demand outlook from China the world’s biggest consumer of the red metal as the Chinese economic growth has yet shown a steady sign of stabilising after last year’s slowdown. Latest data showed copper stocks in LME-approved warehouses rebounded slightly to 231950 tonnes on Wednesday when the LME copper cash-to three month spread returned to the discount zone. Nickel stocks in LME-approved warehouses were at its lowest level since April 2013 latest data showed.

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CapitalStars Financial Research Pvt. Ltd. SEBI Registration Number: INA000001647 MCX Daily Report 03 RD MAY 2019 2 CS GOLD JUN OVERVIEW: TREND : BEARISH RESIST 2: 31900 RESIST 1: 31600 SUP 1: 31200 SUP 2: 31000 WWW.CAPITALSTARS.COM +919977499927 CS SILVER JUL OVERVIEW: TREND : BEARISH RESIST 2: 37300 RESIST 1: 37000 SUP 1: 36500 SUP 2: 36300 WWW.CAPITALSTARS.COM +919977499927 Base Metals CS COPPER JUN OVERVIEW: TREND : BEARISH RESIST 2: 438.00 RESIST 1: 434.00 SUP 1: 427.00 SUP 2: 424.00 WWW.CAPITALSTARS.COM +919977499927 CS NICKEL MAY OVERVIEW: TREND : BEARISH RESIST 2: 857.00 RESIST 1: 852.00 SUP 1: 841.00 SUP 2: 836.00 WWW.CAPITALSTARS.COM +919977499927 CS ZINC MAY OVERVIEW: TREND : BEARISH RESIST 2: 221.00 RESIST 1: 219.00 SUP 1: 216.00 SUP 2: 215.00 WWW.CAPITALSTARS.COM +919977499927 CS LEAD MAY OVERVIEW: TREND : SIDEWAYS RESIST 2: 133.00 RESIST 1: 132.00 SUP 1: 130.00 SUP 2: 129.00 WWW.CAPITALSTARS.COM +919977499927 CS ALUMINIUM MAY OVERVIEW: TREND : SIDEWAYS RESIST 2: 149.00 RESIST 1: 148.00 SUP 1: 146.00 SUP 2: 145.00 WWW.CAPITALSTARS.COM +919977499927 Energy CS CRUDE OIL MAY OVERVIEW: TREND : BEARISH RESIST 2: 4500 RESIST 1:4390 SUP 1: 4200 SUP 2: 4130 WWW.CAPITALSTARS.COM +919977499927 CS NATURAL GAS MAY OVERVIEW: TREND : SIDEWAYS RESIST 2: 186.00 RESIST 1: 183.00 SUP 1: 178.00 SUP 2: 176.00 WWW.CAPITALSTARS.COM +919977499927 Precious Metals

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CapitalStars Financial Research Pvt. Ltd. SEBI Registration Number: INA000001647 MCX Daily Report 03 RD MAY 2019 3 Pick for the DAY MCX COPPER JUN on THRUSDAY as seen in the Daily chart opened at 434.25 levels and made day low of 428.25 Levels. During this period COPPER JUN High is 435.45 levels and finally closed at 430.50 levels. Now there are chances of down movement technically fundamentally. DAILY RECOMMENDATION: SELL MCX COPPER JUN BELOW 430.15 LEVELS FOR TARGET OF 428/426 WITH SL 433 OF LEVELS.

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CapitalStars Financial Research Pvt. Ltd. SEBI Registration Number: INA000001647 MCX Daily Report 03 RD MAY 2019 4 Disclaimer The information and views in this report all the service we provide are believed to be reliable but we do not accept any responsibility for errors of fact or opinion. Investors have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it takes no responsibility. The information given herein should be treated as only factor while making investment decision. The report does not provide individually tailor-made investment advice. My research recommends that investors independently evaluate particular investments and strategies and encourages investors to seek the advice of a financial adviser. Capital Stars shall not be responsible for any transaction conducted based on the information given in this report which is in violation of rules and regulations of regulators. The price projections shown are not necessarily indicative of future price performance. The information herein together with all estimates and forecasts can change without notice. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Investment Trading in Securities Markets are always subjected to market risk. Capitalstars Financial Research Private Ltd. Reserves all Rights. BRANCH OFFICE Capitalstars Financial Research Private Limited PLOT NO.32 MECHANIC NAGAR EXTENSION IDA SCHEME NO.54 VIJAYNAGAR INDORE REGISTERED OFFICE PLOT NO.12 SCHEME NO.78 PART-II VIJAY NAGAR INDORE Email :- backofficecapitalstars.com CONTACT US:- 9039012727/9977499927 Report Is Checked By Investment Advisor: CONTACT US