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Mcx daily report 23 oct

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Mcx daily report 23 oct

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  1. CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 23 OCT2018 NewsHighlights Gold nudges up as Asian shares edgelower. Gold prices inched up early Tuesday as Asian stocks faltered, weighed down by political tensions between Saudi Arabia and Western powers, uncertainties around Brexit and Italy's budgetary woes. U.S. President Donald Trump said he was still not satisfied with what he has heard from Saudi Arabia about the killing of journalist Jamal Khashoggi in Turkey, but did not want to lose investment from Riyadh. Russia said it would be forced to respond in kind to restore the military balance with the United States if Trump carried through on a threat to quit a nuclear arms treaty and began developing new missiles. The United States sent two warships through the Taiwan Strait on Monday in the second such operation this year, asthe U.S. military increases the frequency of transits through the strategic waterway despite opposition from China. Trump, speaking to reporters at the White House as he left on a campaign trip to Texas, said on Monday his administration planned to produce a resolution within two weeks calling for a 10 percent tax cut for middle-incomepeople. Consumption of copper cathode weakened as wider price spreads between copper cathode and scrap deplete demand for refinedmaterials. As the US dollar index rebounded past 96, LME copper dropped to a low of $6,221.5/mt on Monday after it rose to a high of $6,331.5/mt. Despite a higher open, the SHFE 1812 contract fell overnight as shorts were keen to build their positions. China's central bank said on Monday that it will boost relending and rediscount quotas by 150 billion yuan to aid financing needs of small enterprises, as part of the government's measures to strengthen private sector support. This is set to support the market into the longer term. In the physical market, sellers are keen to hold their offers firm as traders needs to fulfill long-term contracts this week. Consumption of copper cathode weakened as wider price spreads between copper cathode and scrap deplete demand for refined materials. LME copper is likely to trade at $6,170-6,240/mt today with the SHFE 1812 contract at 50,100-50,800 yuan/mt. Spot prices are seen between discounts of 20 yuan/mt to premiums of 50yuan/mt. US dollar weakened and the growth in US consumer price index for September missed expectations. As the dollar rose, LME nickel reversed early-session gains and ended the trading day in negative territory. With limited steam, the SHFE 1901 contract failed to hit the 105,000 yuan/mtlevelandweakenedinlatetradingovernight.LMEnickelislikelytohoveraround $12,500/mt today with the SHFE 1901 contract at 103,000-104,500 yuan/mt. Spot prices are seen at 103,500-110,000 yuan/mt. Oil prices fall as Saudi Arabia pledges to play 'responsible role' inmarket. Oil prices fell on Tuesday after Saudi Arabia pledged to play a "responsible role" in energy markets, although sentiment remained nervous in the run-up to U.S. sanctions against Iran's crude exports that start next month. U.S. sanctions against Iran's oil exports are due to kick off on Nov. 4, with Washington pressuring governments and companies worldwide to fall in lineandcutimportsfromtheMiddleEasternnation.TopcrudeoilexporterSaudiArabiahas

  2. pledged to keep markets supplied despite its increasing isolation over the killing of Saudi journalistJamalKhashoggihasbeenconcernthatjustasmarketstightenonthebackofthe U.S. sanctions against Iran, Saudi Arabia could cut crude supply in retaliation for potential sanctions against it over the Khashoggikilling.

  3. CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 23 OCT2018 PreciousMetals CS GOLD (DEC) OVERVIEW: TREND : BULLISH RESIST 2: 32150 RESIST 1: 32000 SUP1:31850 SUP 2:31750 WWW.CAPITALSTARS.COM +917440449744 CS SILVER (DEC) OVERVIEW: TREND :SIDEWAYS RESIST 2:39200 RESIST 1:38950 SUP 1: 38700 SUP 2: 38500 WWW.CAPITALSTARS.COM +917440449744 BaseMetals CS COPPER (NOV) OVERVIEW: TREND : BULLISH RESIST2:458.00 RESIST1:454.00 SUP 1: 446.00 SUP 2: 440.00 WWW.CAPITALSTARS.COM +917440449744 CS NICKEL (OCT) OVERVIEW: TREND : BEARISH RESIST 2:928.00 RESIST 1:918.00 SUP 1: 914.00 SUP 2: 907.00 WWW.CAPITALSTARS.COM +917440449744 CS ZINC (OCT)OVERVIEW: TREND : SIDEWAYS RESIST2:202.00 RESIST1:200.00 SUP 1:198.00 SUP 2: 196.00 WWW.CAPITALSTARS.COM +917440449744 CS LEAD (OCT) OVERVIEW: TREND : BEARISH RESIST 2:150.00 RESIST 1:148.00 SUP 1:145.00 SUP 2: 143.00 WWW.CAPITALSTARS.COM +917440449744 CS ALUMINIUM (OCT)OVERVIEW: TREND :BEARISH RESIST 2:151.00 RESIST 1:149.00 SUP 1:148.00 SUP 2:146.00 WWW.CAPITALSTARS.COM+917440449744 Energies CS CRUDE OIL (OCT)OVERVIEW: TREND :BEARISH RESIST 2:5200 RESIST 1:5150 SUP 1:5070 SUP 2: 5020 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (OCT)OVERVIEW: TREND :BEARISH RESIST 2:237.00 RESIST 1:235.00 SUP 1:231.00 SUP 2: 229.00 WWW.CAPITALSTARS.COM +917440449744

  4. CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 23 OCT2018 Pick for theDAY • MCX Crude on Monday as seen in the Daily chart opened at 5110 levels and made day Low of 5054 levels. During this period Crude High is 5135 levels and finally closed at 35107 levels. Now, there are chances of down movement technically & fundamentally. • Oil prices fell on Tuesday after Saudi Arabia pledged to play a "responsible role" in energy markets, although sentiment remained nervous in the run-up to U.S. sanctions against Iran's crude exports that start next month. • Jamal Khashoggi has been concern that just as markets tighten on the back of the U.S. sanctions against Iran, Saudi Arabia could cut crude supply in retaliation for potential sanctions against it over the Khashoggikilling. DAILY RECOMMENDATION: SELL MCX CRUDE NOV BELOW 5135 LEVELS FOR TARGET OF 5115/5105 WITH SL 5155 OF LEVELS.

  5. CapitalStars Financial Research Pvt.,Ltd., 4 SEBI Registration Number:INA000001647 MCXDailyReport 23 OCT2018 Disclaimer The information and views in this report & all the service we provide are believed to be reliable, but we do not accept any responsibility for errors of fact or opinion. Investors have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. My research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financialadviser. Capital Stars shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of regulators. The price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Investment & Trading in Securities Markets are always subjected to market risk. Capitalstars Financial Research Private Ltd., Reserves allRights. CONTACTUS BRANCHOFFICE Capitalstars Financial Research Private Limited Forex Trading Tips Stock Market Tips Share TipsExpert PLOT NO.32, MECHANIC NAGAR EXTENSION, IDA SCHEME NO.54, VIJAYNAGARINDORE REGISTEREDOFFICE PLOT NO.12, SCHEME NO.78 PART-II, VIJAY NAGAR,INDORE Email :-backoffice@capiltalstars.in

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