MCX_DAILY_REPORT_(2)

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CapitalStars Investment Adviser: SEBI Registration Number: INA000001647 11 JANUARY 2017 MCX DAILY NEWS LETTER Capital Stars Financial Research Pvt. Ltd.

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Oil prices edge up on reports of Saudi supply cuts but details murky. Highlights Gold prices gain in Asia as policy views from Trump awaited. Peru’s Copper Production to Grow 20 in 2017. PRECIOUS METALS Gold prices gained with the focus on policymaker remarks this week in the U.S. led by the next U.S. president on Wednesday. Gold for February delivery on the Comex division of the New York Mercantile Exchange edged up 0.11 to 1186.75 a troy ounce. Overnight gold prices rallied to a six-week high on Tuesday amid jitters ahead of President-elect Donald Trump’s first news conference since his election victory on Wednesday. U.S. President-elect Donald Trump is to hold a press conference at 11:00 AM on Wednesday which investors will be watching for any hints about the possible direction of economic policy. Gold has been well-supported in recent sessions after minutes from the Federal Reserve’s December meeting unsettled investors’ expectations about the pace of future interest rate hikes. Gold likely gained support at 1337.50 the low from July 20 and was met with resistance at rate BASE METALS Peru’s government said January 10 the country’s copper output is expected to increase 20 in 2017 wenhua.com reported. Peru’s copper production is expected to be 2.60-2.70 million tonnes in 2017 higher than the 2.20 million tonnes estimated in 2016. The country’s copper output hit an all-time high of 2.15 million tonnes in the first eleven months of 2016 surging 42 from the same period of 2015. This is due mainly to surge in output at MMG’s Las Bambas copper mine and expansion by Freeport-McMoRan Inc at its Cerro Verde mine. LME copper is expected to move at USD 5640-5750/mt during Asian trading hours on Wednesday and SHFE 1703 copper will move at RMB 46000-47000/mt. In China’s domestic market spot copper should trade at premiums of RMB 0-80/mt on Wednesday. The US dollar index rallied after hitting a two-day low on Tuesday and is expected to remain range-bound. ENERGIES Oil edged up on Wednesday lifted by reports of Saudi supply cuts to Asia but prices were prevented from rising further over a lack of detail of these reductions and because of signs of rising supplies from other producers. Traders said that the price rises were a result of reports that Saudi Arabia the worlds top oil exporter was telling some Asian customers that it will curb crude supplies slightly from contracted volumes in February although Reuters was not able to confirm any details of the reductions. There were also doubts that the overall cuts would go deep enough to rebalance a market suffering from oversupply for the past two years. Both Brent and WTI futures are down around 6 percent since the start of the year. "Traders continued to fret about rising U.S. supply and compliance by OPEC to agreed-upon production cuts" ANZ bank said. 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: 28500 RESIST 2: 42000 RESIST 1: 28400 RESIST 1: 41700 SUP 1: 28000 SUP1: 40750 SUP 2: 27900 SUP2: 40300 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 BASEMETAL LEVELS CS COPPER FEBRUARY OVERVIEW: CS NICKEL JANUARY OVERVIEW: TREND : BULLISH TREND : BULLISH RESIST 2:405 RESIST 2: 740 RESIST 1:400 RESIST 1: 730 SUP1:390 SUP1: 708 SUP2:387 SUP2: 700 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 CS ZINC JANUARY OVERVIEW: CS LEAD JANUARY OVERVIEW: TREND : BULLISH TREND : BULLISH RESIST 2:190.00 RESIST 2: 153.00 RESIST 1:188.00 RESIST 1: 152.00 SUP1:182.00 SUP1: 146.00 SUP2:180.00 SUP2: 144.00 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 CS ALUMINIUM JANUARY OVERVIEW: TREND : BULLISH RESIST 2: 122.00 RESIST 1: 121.00 SUP1: 117.00 SUP2: 116.00 WWW.CAPITALSTARS.COM +917316790000 ENERGY LEVELS CS CRUDE OIL JANUARY OVERVIEW: CS NATURAL GAS JANUARY OVERVIEW: TREND : BEARISH TREND : BULLISH RESIST 2:3550 RESIST 2:233.00 RESIST 1:3520 RESIST 1:230.00 SUP1:3420 SUP1:213.00 SUP2:3370 SUP2:210.00 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 3560 levels and day high of 3575 levels. During this period price corrected made day low of 3500 levels finally closed at 3513 levels. Now there are chances of further downward movement technically fundamentally. There were also doubts that the overall cuts would go deep enough to rebalance a market suffering from oversupply for the past two years. DAILY RECOMMENDATION: SELL MCX CRUDE OIL JANUARY AROUND 3500 LEVELS FOR TARGET OF T1 3400/T2 3350 WITH SL OF 3600 LEVELS. SEBI Registration Number: INA000001647 MCX Daily News Letter

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