MCX_DAILY_REPORT_-_4_Jan

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CapitalStars Investment Adviser: SEBI Registration Number: INA000001647 04 JANUARY 2017 MCX DAILY NEWS LETTER Capital Stars Financial Research Pvt. Ltd.

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Gold prices dip in Asia with Fed minutes eyed for policy views. Highlights Oil prices edge up on expectations of tightening supplies. SHFE Copper to Move in a Tight Range. PRECIOUS METALS Gold prices eased in Asia as a strong dollar weighed and investors awaited further clues on the greenback from Federal reserve minutes due to be released later in the day. On the Comex division of the New York Mercantile Exchange gold for February delivery fell 0.26 to 1159.00 a troy ounce while silver futures eased 0.10 to 16.392 a troy ounce. Copper futures dipped 0.24 to 2.481 a pound. Overnight gold prices rose despite a stronger dollar against a basket of currencies surging to a 14-year high. Gold is prices in dollars making it potentially more expensive countries such as India and China the top buyers globally. At its December meeting the Fed raised interest rates for the first time in a year and forecast as many as three hikes in 2017 making the tone of the discussion of high interest to markets. Gold likely gained support at 1337.50 the low from July 20 and was met with resistance at rate BASE METALS LME copper is expected to move at USD 5475-5580/mt during Asian trading hours on Wednesday and SHFE 1703 copper will move at RMB 45150-46000/mt. In China’s domestic market spot copper should trade at discounts of RMB 200-100/mt on Wednesday. Economic data will make limited effect on base metals on Wednesday. Attention should be on final reading of Eurozone’s Markit services and composite PMIs in December and fresh reading of CPI in December on a yearly basis. Base metals dropped across the board both on SHFE and LME markets on Tuesday the first trading day in 2017. As base metals stopped falling and stabilized at the tail of Tuesday’s trading metals are expected to revise slightly on Wednesday but will remain weak. ENERGIES Oil edged higher on Wednesday with top exporter Saudi Arabia expected to raise prices for its crude as part of planned supply cuts although a strong dollar and moderate economic growth prospects restricted gains. Traders said the gains were due to an expected tightening of physical oil supplies as major producers like the Organization of the Petroleum Exporting Countries OPEC plan to cut crude output from this month in an effort to end a global fuel glut that has dogged markets for over two years. Potentially reflecting a tightening market top oil exporter Saudi Arabia is expected to raise the official selling price OSP for all its crude grades to Asia in February. OSPs for crude delivered to customers around the world are a key indicator in determining the prices for crude futures like Brent or WTI. SEBI Registration Number: INA000001647 MCX Daily News Letter

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PRECIOUS LEVELS CS GOLD FEBRUARY OVERVIEW: CS SILVER MARCH OVERVIEW: TREND : BULLISH TREND : BULLISH RESIST 2: 27950 RESIST 2: 40900 RESIST 1: 27850 RESIST 1: 40600 SUP 1: 27450 SUP1: 39600 SUP 2: 27300 SUP2: 39000 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 BASEMETAL LEVELS CS COPPER FEBRUARY OVERVIEW: CS NICKEL JANUARY OVERVIEW: TREND : SIDEWAYS TREND : SIDEWAYS RESIST 2:385 RESIST 2: 710 RESIST 1:382 RESIST 1: 700 SUP1:369 SUP1: 680 SUP2:365 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 2:3720 RESIST 2:236.00 RESIST 1:3680 RESIST 1:234.00 SUP1:3550 SUP1:222.00 SUP2:3500 SUP2:220.00 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 SEBI Registration Number: INA000001647 MCX Daily News Letter

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PICK FOR THE DAY MCX CRUDE OIL January Tuesday as seen in the daily chart opened at 3685 levels and day high of 3780 levels. During this period price corrected made day low of 3552 levels finally closed at 3590 levels. Now there are chances of further downward movement technically fundamentally. Traders said the gains were due to an expected tightening of physical oil supplies as major producers like the Organization of the Petroleum Exporting Countries OPEC plan to cut crude output from this month in an effort to end a global fuel glut that has dogged markets for over two years. DAILY RECOMMENDATION: SELL MCX CRUDE OIL JANUARY AROUND 3650 LEVELS FOR TARGET OF T1 3550/T2 3500 WITH SL OF 3720 LEVELS. SEBI Registration Number: INA000001647 MCX Daily News Letter

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