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Mcx daily report 29 oct

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Mcx daily report 29 oct

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  1. CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 29 OCT2018 NewsHighlights Gold rises as stocks slide triggers flight tosafety. Gold rose on Friday to a more than three-month peak as investors rushed to the safety of bullion as stock markets around the globe plunged, putting the metal on track for its fourth week of gains. Spot gold was on course for a fourth weekly gain, its longest winning streak since January. Stocks worldwide spiraled downward on Friday and were set to post their worst weekly losing streak in more than five years. Rising rates are normally negative for gold because they increase the opportunity cost of holding non-yielding bullion and could boost the dollar, in which gold is priced. Gold demand in India this week was muted as a recent rally in domestic prices prompted buyers to postpone purchases despite the approaching festival and wedding season. Prices are up more than 6 percent after fallingto $1,159.96 an ounce in mid-August, the lowest since January2017. In the physical market, spot discounts are likely to widen after long-term contracts were completed and as copper pricesrose. The SHFE 1812 contract lost support at the Bollinger middle band as exiting longs lowered it to an intraday low of 49,720 yuan/mt. It settled at 49,750 yuan/mt with open interest shrinking 2,268 lots. The SHFE 1901 contract gained 3,084 lots in open interest today. With pressure at the five-day moving average and an extended MACD green line, the 1812 contract will test support at 49,500 yuan/mttonight. Anticipation of nickel pig iron (NPI) supply increases and downstream consumptioncuts. The SHFE 1901 contract fell below the 100,000 yuan/mt level in the afternoon and failed to rebound till closing as shorts accumulated. It slid to an intraday low of 99,220 yuan/mt, the lowest in half a year. Some 435 million yuan of capital entered all SHFE nickel contracts, the greatest among base metals contracts. We expect the contract to test pressure at 100,000 yuan/mt tonight as its KDJ indicators expanded downwards. Investors may take more cues tonight from the US GDP for the third quarter and University of Michigan consumer sentiment index forOctober. Oil rises ahead of Iran sanctions but falls for a thirdweek. Oil prices rose on Friday, supported by expectations that sanctions on Iran would tighten global supplies, but futures posted a weekly drop as a slump in stock markets and concerns about trade wars clouded the fuel demand outlook. Prices got some support when two sources said on Friday Iraq will stop trucking crude oil from its northern Kirkuk oil field to Iran in November to comply with U.S. sanctions. has said it wants to reduce Iranian oil sales to zero, although this looks unlikely. Still, many buyers, including Iran's biggest customer, China, appear to be falling in line, forcing Tehran to store unsold oil on tankers. You move forward and see people playing by the rules, which I don't believe ever really happens, you'll see supply come off and we could run into an issue later," said Michael McAllister, director of equity research at MUFGSecurities.

  2. CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 29 OCT2018 PreciousMetals CS GOLD (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 32200 RESIST 1: 32100 SUP1:31850 SUP 2:31750 WWW.CAPITALSTARS.COM +917440449744 CS SILVER (DEC) OVERVIEW: TREND : BEARISH RESIST 2: 39200 RESIST 1: 38900 SUP 1: 38600 SUP 2: 38400 WWW.CAPITALSTARS.COM +917440449744 BaseMetals CS COPPER (NOV) OVERVIEW: TREND : BEARISH RESIST2:455.00 RESIST1:450.00 SUP 1: 442.00 SUP 2: 438.00 WWW.CAPITALSTARS.COM +917440449744 CS NICKEL (OCT) OVERVIEW: TREND : BEARISH RESIST 2:880.00 RESIST 1:870.00 SUP 1: 860.00 SUP 2: 850.00 WWW.CAPITALSTARS.COM +917440449744 CS ZINC (OCT) OVERVIEW: TREND : BEARISH RESIST2:202.00 RESIST1:199.00 SUP 1:196.00 SUP 2: 194.00 WWW.CAPITALSTARS.COM +917440449744 CS LEAD (OCT) OVERVIEW: TREND : BEARISH RESIST 2:150.00 RESIST 1:147.00 SUP 1:145.00 SUP 2: 143.00 WWW.CAPITALSTARS.COM +917440449744 CS ALUMINIUM (OCT)OVERVIEW: TREND :BEARISH RESIST 2:148.00 RESIST 1:146.00 SUP 1:144.00 SUP 2:142.00 WWW.CAPITALSTARS.COM+917440449744 Energies CS CRUDE OIL (NOV)OVERVIEW: TREND :BEARISH RESIST 2:5020 RESIST 1:4960 SUP 1:4840 SUP 2: 4800 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (OCT)OVERVIEW: TREND :BEARISH RESIST 2:239.00 RESIST 1:237.00 SUP 1:232.00 SUP 2: 230.00 WWW.CAPITALSTARS.COM +917440449744

  3. CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 29 OCT2018 Pick for theDAY • MCX Crude on Friday as seen in the Daily chart opened at 4902 levels and made day low of 4868 levels. During this period Crude High is 4980 levels and finally closed at 4953 levels. Now, there are chances of down movement technically & fundamentally. • Oil prices fell on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook fordemand. • Crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said thisweek. DAILY RECOMMENDATION: SELL MCX CRUDE NOV BELOW 4925 LEVELS FOR TARGET OF 4905/4860 WITH SL 4970 OF LEVELS.

  4. CapitalStars Financial Research Pvt.,Ltd., 4 SEBI Registration Number:INA000001647 MCXDailyReport 29 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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