slide 1: CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
02 JANUARY 2017
MCX DAILY NEWS LETTER
Capital Stars Financial Research Pvt. Ltd.
slide 2: Highlights
NYMEX crude gains in holiday-thinned Asian trade.
Gold prices decline on Friday.
PRECIOUS METALS
The price of gold declined on intraday trading on Friday but is still on track to finish the year with a 6
increase. Gold was trading at 1155.80 per ounce down 2.90 or 0.21. Silver was down too at 16.04 per
ounce a decline of 0.17 cents or 1.10. Other commodity prices including platinum palladium and copper
were rising on intraday trading. A major dip in the U.S. dollar index late this week is encouraging buying in
the gold and silver.
Prices of gold and silver charts remain bearish however. A rhetorical conflict between the U.S. and Russia
was impacting the dollar which also slammed precious metals.
Russias foreign secretary called the U.S. "foreign policy losers" for issuing sanctions over alleged unproven
hacking allegations against Moscow and over-the-top claims that social engineering or hacking of John
Podestas G-Mail account led to the overwhelming electoral college defeat of Hillary Clinton in the
presidential election this fall.
Gold likely gained support at 1337.50 the low from July 20 and was met with resistance at rate
BASE METALS
Copper March delivery has added 0.5 percent at 2.498.As 2017 New Year holiday falls on Dec. 31 to Jan. 2
there will be no update on SMMs website during the holiday period.
Nickel ore inventories at seven major Chinese ports kept dropping in the week ending Dec. 30 Shanghai
Metals Market reported. Nickel ore inventories at seven major Chinese ports were down 240000 tones’ on
a weekly basis according to SMM data.
Over this past week the Port of Lanshan and Lianyungang saw arrivals of 100000 wmt and 120000 wmt of
goods respectively. SMM survey finds.
ENERGIES
U.S. crude oil prices drifted higher in Asia on Monday with most financial markets in the region closed to
mark the New Year holiday. Crude for February delivery on the New York Mercantile Exchange rose 0.24
to 53.90 a barrel. Global benchmark Brent crude traded on Londons Intercontinental Exchange was last
quoted at 56.74 a barrel.
Investors await news of the adherence to combined production cuts by OPEC and non-OPEC nations near 1.8
million barrels per day that started at the New Year. A meeting in Kuwait later this month will assess progress.
Oil prices settled slightly lower on Friday the years last trading day but attained their biggest annual gain
since 2009 after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed
prices for two years. A two-rig rise in the oil rig count in the United States the ninth weekly increase in a
row as reported by oilfield services provider Baker Hughes Inc added to bearish sentiments.
SEBI Registration Number: INA000001647 MCX Daily News Letter
slide 3: PRECIOUS LEVELS
CS GOLD FEBRUARY OVERVIEW: CS SILVER MARCH OVERVIEW:
TREND : BULLISH TREND : BULLISH
RESIST 2: 27750 RESIST 2: 40000
RESIST 1: 27650 RESIST 1: 39700
SUP 1: 27350 SUP1: 38700
SUP 2: 27180 SUP2: 38400
WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000
BASEMETAL LEVELS
CS COPPER FEBRUARY OVERVIEW: CS NICKEL JANUARY OVERVIEW:
TREND : SIDEWAYS TREND : BEARISH
RESIST 2:385 RESIST 2: 710
RESIST 1:382 RESIST 1: 700
SUP1:375 SUP1: 680
SUP2:372 SUP2: 670
WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000
CS ZINC JANUARY OVERVIEW: CS LEAD JANUARY OVERVIEW:
TREND : SIDEWAYS TREND : BULLISH
RESIST 2:178.00 RESIST 2: 140.00
RESIST 1:177.00 RESIST 1: 139.00
SUP1:172.00 SUP1: 135.00
SUP2:170.00 SUP2: 133.00
WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000
CS ALUMINIUM JANUARY OVERVIEW:
TREND : BEARISH
RESIST 2: 117.50
RESIST 1: 116.50
SUP1: 114.00
SUP2: 113.00
WWW.CAPITALSTARS.COM +917316790000
ENERGY LEVELS
CS CRUDE OIL JANUARY OVERVIEW: CS NATURAL GAS JANUARY OVERVIEW:
TREND : SIDEWAYS TREND : BEARISH
RESIST 2:3760 RESIST 2:258.00
RESIST 1:3720 RESIST 1:256.00
SUP1:3600 SUP1:249.00
SUP2:3550 SUP2:247.00
WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000
SEBI Registration Number: INA000001647 MCX Daily News Letter
slide 4: PICK FOR THE DAY
MCX CRUDE OIL January Friday as seen in the daily chart opened at 3674 levels and
day high of 3681 levels. During this period price corrected made day low of 3638
levels finally closed at 3650 levels. Now there are chances of further upward
movement technically fundamentally.
Investors await news of the adherence to combined production cuts by OPEC and non-OPEC nations
near 1.8 million barrels per day that started at the New Year. A meeting in Kuwait later this month
will assess progress.
DAILY RECOMMENDATION: BUY MCX CRUDE OIL JANUARY AROUND 3650
LEVELS FOR TARGET OF T1 3750/T2 3800 WITH SL OF 3550 LEVELS.
SEBI Registration Number: INA000001647 MCX Daily News Letter
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SEBI Registration Number: INA000001647 MCX Daily News Letter