Mcx daily report 26 oct

1. CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 26 OCT2018 NewsHighlights Gold Prices Struggle to Capitalize on Market Meltdown. Gold prices tiptoed lower while crude oil prices rose tepidly with stocks amid a brief interlude in the broad-based risk appetite collapse defining financial markets this week (as expected). These moves’ corrective character was made plain soon enough however as sentiment soured anew in Asia Pacific trade. Third-quarter US GDP data may amplify the risk-offpush. Growth is seen slowing to an annualized rate of 3.3 percent, down from the four-year highof 4.2 percent previously. That is both a large-enough comedown to rattle already jittery investors and a strong-enough print to keep Fed rate hikes ontrack. In the physical market, spot discounts are likely to widen after long-term contracts were completed and as copper pricesrose. On Thursday, LME copper rebounded to $6,200/mt from a two-week low of $6,113.5/mt after data showed that LME inventory decreased to a 12-year low. A robust dollar then forced it to give up some gains before the contract refreshed day-highs of $6,227.5/mt on short-covering. As shorts took profits, the SHFE 1812 contract crept to session-highs of 50,390 yuan/mt before it edged down by closing. In the physical market, spot discounts are likely to widen after long-term contracts were completed and as copper pricesrose. Downstream consumers stood on sidelines. LME copper is likely to trade at $6,150-6,220/mt today with the SHFE 1812 contract at 49,900-50,400 yuan/mt. Spot discounts are seen at 80-30yuan/mt. Anticipation of nickel pig iron (NPI) supply increases and downstream consumptioncuts. London nickel came off from day-highs of $12,335/mt and closed at $12,185/mt overnight. The SHFE 1901 contract fell from the 102,000 yuan/mt level to end in the redovernight. Anticipation of nickel pig iron (NPI) supply increases and downstream consumption cuts and fears of a slowdown in global economic growth accounted for the recent declines in nickel prices. But low inventories provided some support at the 100,000 yuan/mt level. LME nickel is expected to hover around $12,150/mt today with the SHFE 1901 contract at 100,500- 102,000 yuan/mt. Spot prices are seen at 101,000-108,500yuan/mt. Oil prices fell under extreme sellingpressure. 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 for demand. Saudi Arabia's OPEC governor said on Thursday that the oil market could face oversupply in the current quarter. Saudi Arabia Energy Minister Khalid Al-Falih said there could be a need for intervention to reduce oil stockpiles after increases in recent months. Crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said this week. in stock markets have roiled oil prices this week as Wall Street had its biggest daily decline since 2011. near $10 per barrel drop in Brent crude seenover

2. October is a spillover from the global sell-off in equities and broader risk-off sentiment in the market," said FitchSolutions.

3. CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 26 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 2:910.00 RESIST 1:895.00 SUP 1: 880.00 SUP 2: 870.00 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 1:148.00 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 2:5000 RESIST 1:4950 SUP 1:4840 SUP 2: 4800 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (OCT)OVERVIEW: TREND :BEARISH RESIST 2:237.00 RESIST 1:235.00 SUP 1:232.00 SUP 2: 230.00 WWW.CAPITALSTARS.COM +917440449744

5. CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 26 OCT2018 Pick for theDAY • MCX Crude on Thursday as seen in the Daily chart opened at 4905 levels and made day low of 4853 levels. During this period Crude High is 4968 levels and finally closed at 4947 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.

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