MCX_DAILY_REPORT_(2)

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CapitalStars Investment Adviser: SEBI Registration Number: INA000001647 17 JANUARY 2017 MCX DAILY NEWS LETTER Capital Stars Financial Research Pvt. Ltd.

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SHFE Copper to See Range-Bound Trading. Highlights Gold gains in Asia as slate of speeches to set market tone. Oil mixed on Saudi commitment to cut output investor skepticism. PRECIOUS METALS Gold prices edged higher in Asia on Tuesday with two big speeches later in the day--British PM Theresa May on Brexit and Chinese President Xi Jinping at Davos on the global economic outlook setting the scene for the inaugural address by President-elect Donald Trump at the end of the week. Gold for February delivery on the Comex division of the New York Mercantile Exchange rose 0.78 to 1205.55 a troy ounce while silver futures for March delivery gained 0.58 to 16.862 a troy ounce. Overnight gold prices rose toward an eight-week high on Monday as investors await more detail on the U.K.s Brexit plan and the inauguration of Trump in the U.S. later this week. Worries about the terms of Britains departure from the European Union intensified following media reports that suggested Mays government was prepared to make a "clean and hard" exit from the single currency region ahead of her speech on Tuesday. 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 5820-5900/mt during Asian trading hours on Tuesday and SHFE 1703 copper will move at RMB 47400-48000/mt. In China’s domestic market spot copper should trade at discounts of RMB 220-120/mt on Tuesday. Attention should be on Japan’s industrial production in November 2016 after seasonally adjustment Italy’s trade balance UK’s CPI and core CPI on an annual basis January 2017 ZWE economic climate index from Europe and Germany and US’s NY empire state index in January 2017 this week. There is a big uncertainty over US dollar index before Trump take office. Base metals will be mixed on Tuesday. Prime Minister of UK Theresa May will detail Brexit plans on Tuesday. Pound fell to the lowest level in 32 years as market players worry that UK will announce to take hard Brexit. If Theresa May shows intention to hard Brexit again pound will drop further. ENERGIES Oil markets were mixed on Tuesday supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output but held back by skepticism in financial markets about the outlook for crude prices. Traders said markets were receiving some support from top crude exporter Saudi Arabia which said it would adhere strictly to its commitment to cut output under the global agreement among oil producers including the Organization of the Petroleum Exporting Countries OPEC and Russia. Under the agreement OPEC Russia and other non-OPEC producers have pledged to cut oil output by nearly 1.8 million barrels per day bpd initially for six months in order to bring supplies back in line with consumption. Despite this crude prices have fallen almost 5 percent since their early January peaks as financial oil traders remain skeptical about OPECs and Russias willingness to fully comply with the cuts. 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: 28850 RESIST 2: 41700 RESIST 1: 28750 RESIST 1: 41350 SUP 1: 28450 SUP1: 40800 SUP 2: 28350 SUP2: 40400 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 BASEMETAL LEVELS CS COPPER FEBRUARY OVERVIEW: CS NICKEL JANUARY OVERVIEW: TREND : BEARISH TREND : BEARISH RESIST 2:405 RESIST 2: 709 RESIST 1:400 RESIST 1: 698 SUP1:391 SUP1:680 SUP2:386 SUP2:675 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 CS ZINC JANUARY OVERVIEW: CS LEAD JANUARY OVERVIEW: TREND : BEARISH TREND : BEARISH RESIST 2:188.00 RESIST 2: 156.00 RESIST 1:186.00 RESIST 1: 154.00 SUP1:180.00 SUP1: 151.00 SUP2:179.00 SUP2: 149.00 WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000 CS ALUMINIUM JANUARY OVERVIEW: TREND : BEARISH RESIST 2: 123.00 RESIST 1: 122.00 SUP1: 120.00 SUP2: 119.00 WWW.CAPITALSTARS.COM +917316790000 ENERGY LEVELS CS CRUDE OIL JANUARY OVERVIEW: CS NATURAL GAS JANUARY OVERVIEW: TREND : SIDEWAYS TREND : BULLISH RESIST 2:3690 RESIST 2:245.00 RESIST 1:3650 RESIST 1:240.00 SUP1:3500 SUP1:231.00 SUP2:3470 SUP2:228.00 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 Monday as seen in the daily chart opened at 3596 levels and day high of 3596 levels. During this period price corrected made day low of 3552 levels finally closed at 3579 levels. Now there are chances of further downward movement technically fundamentally. Under the agreement OPEC Russia and other non-OPEC producers have pledged to cut oil output by nearly 1.8 million barrels per day bpd initially for six months in order to bring supplies back in line with consumption. DAILY RECOMMENDATION: SELL MCX CRUDE OIL JANUARY AROUND 3600 LEVELS FOR TARGET OF T1 3500/T2 3450 WITH SL OF 3700 LEVELS. SEBI Registration Number: INA000001647 MCX Daily News Letter

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