MCX_DAILY_REPORT_(2)

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CapitalStars Investment Adviser: SEBI Registration Number: INA000001647 13 JANUARY 2017 MCX DAILY NEWS LETTER Capital Stars Financial Research Pvt. Ltd.

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Highlights Gold copper weaker in Asia after China trade data. Oil steady as Saudi Arabia says has cut output but oversupply worries linger. PRECIOUS METALS Gold and copper prices dipped in Asia on Friday despite upbeat trade data out of China that showed the industrial metal on the upswing. Gold for February delivery on the Comex division of the New York Mercantile Exchange fell 0.54 to 1193.35 a troy ounce. In sparse remarks Federal Reserve Chair Janet Yellen on Thursday said she has no major worries for the U.S. economy over the short term. The labor market is "strong" wage growth is "beginning to pick up" and inflation is a little below the Feds 2 target "but pretty close" she told a group of economics teachers in Washington D.C. on Thursday evening. Overnight gold prices rallied to a seven-week high on Thursday on dollar weakness. The Fed had indicated in December that at least three rate increases were in the offing for 2017 according to a forecast of interest rates from members of the central bank known as the dot-plot. Gold likely gained support at 1337.50 the low from July 20 and was met with resistance at rate BASE METALS Utilization rates at major domestic copper tube/pipe producers grew in December both on a monthly and yearly basis SMM latest survey finds. The average operating rate was 77.31 percent in December up 0.36 percentage points year-on-year and 0.62 percentage point’s month-on-month according to SMM survey. SMM attributes the rise to rate mainly to high demand in a traditionally busy production season. In December domestic air-conditioning manufacturers stepped up production as traders showed higher stockpiling demand due to seasonal factor and price rise expectations after surging prices of raw materials since November. Moreover the fallback in copper market in December also encouraged copper tube/pipe producers to build up stocks. ENERGIES Oil prices were steady on Friday supported by reports on details of OPEC output cuts although lingering doubts over producer compliance with supply reduction targets weighed on the market. Traders said that prices received some support from statements from top crude exporter Saudi Arabia that its output had fallen below 10 million barrels per day bpd a level last seen in February 2015. That would also mean that the kingdom has cut production more than the 486000 bpd it agreed to late last year under a global deal to curb production and stem a fall in oil prices. However hard evidence of deep supply reductions to customers has yet to emerge two weeks into January when the planned cuts by the Organization of the Petroleum Exporting Countries OPEC and other producers like Russia are supposed to take effect. 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: 28650 RESIST 2: 41700 RESIST 1: 28550 RESIST 1: 41100 SUP 1: 28150 SUP1: 40500 SUP 2: 28000 SUP2: 40000 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 BASEMETAL LEVELS CS COPPER FEBRUARY OVERVIEW: CS NICKEL JANUARY OVERVIEW: TREND : BULLISH TREND : BULLISH RESIST 2:410 RESIST 2: 720 RESIST 1:406 RESIST 1: 710 SUP1:391 SUP1: 680 SUP2:387 SUP2: 660 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 CS ZINC JANUARY OVERVIEW: CS LEAD JANUARY OVERVIEW: TREND : BULLISH TREND : BULLISH RESIST 2:191.00 RESIST 2: 153.00 RESIST 1:189.00 RESIST 1: 152.00 SUP1:184.00 SUP1: 145.00 SUP2:182.00 SUP2: 144.00 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 CS ALUMINIUM JANUARY OVERVIEW: TREND : BULLISH RESIST 2: 123.50 RESIST 1: 122.50 SUP1: 119.00 SUP2: 118.00 WWW.CAPITALSTARS.COM +917316790000 ENERGY LEVELS CS CRUDE OIL JANUARY OVERVIEW: CS NATURAL GAS JANUARY OVERVIEW: TREND : BULLISH TREND : BULLISH RESIST 2:3720 RESIST 2:240.00 RESIST 1:3680 RESIST 1:237.00 SUP1:3560 SUP1:225.00 SUP2:3520 SUP2:222.00 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 Thursday as seen in the daily chart opened at 3565 levels and day high of 3644 levels. During this period price corrected made day low of 3550 levels finally closed at 3613 levels. Now there are chances of further upward movement technically fundamentally. Hard evidence of deep supply reductions to customers has yet to emerge two weeks into January when the planned cuts by the Organization of the Petroleum Exporting Countries OPEC and other producers like Russia are supposed to take effect. DAILY RECOMMENDATION: BUY MCX CRUDE OIL JANUARY AROUND 3600 LEVELS FOR TARGET OF T1 3700/T2 3750 WITH SL OF 3500 LEVELS. SEBI Registration Number: INA000001647 MCX Daily News Letter

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