Daily MCX News
BULLION:
Gold edged up on Wednesday after falling the most in five weeks the session before as global equities were revived after China cut interest rates and bank reserve requirements to support a flagging economy. But China's move appears to have only boosted equities temporarily, with U.S. stock futures ESc1 resuming their descent and Asian shares slightly lower. Further losses in equities could switch appetite back to safe-haven assets such as gold. The dollar edged down against the euro and yen as sentiment remained shaky even after China embarked on much-anticipated policy easing steps.
BASE METAL:
LME copper prices rallied Tuesday on monetary easing in China and hit a high of USD 5,072/mt before ending up USD 106/mt at USD 5,056/mt. The People’s Bank of China announced to cut interest rate and RRR Tuesday to help stabilize the volatile financial markets, driving up commodities prices. The PBOC raised central parity of the yuan against the US dollar by over 100, allowing the yuan to depreciate further. China’s zinc output will grow 9.8% to 6.40 million tonnes in 2015, while consumption is expected to be 6.55 million tonnes, growing more slowly at a 4.8% pace.
ENERGY:
ENERGY:
Crude oil futures held in a narrow band on Wednesday not far off 6-1/2 year lows after China's central bank moved to support the country's stumbling economy, while concerns about a supply glut capped gains. U.S. crude stocks fell by 7.3 million barrels last week to 449.3 million, compared with analysts' expectations for a rise of 1 million barrels as refinery runs rose, data from the American Petroleum Institute showed on Tuesday. Energy Information Administration data is due on Wednesday. API/S
BULLION & ENERGY
CS GOLD (OCTOBER) OVERVIEW:
TREND : BEARISH
RESIST 2: 27470
RESIST 1: 27370
SUP 1: 26690
SUP 2: 26450
STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2:35600
RESIST 1:35450
SUP1:34230
SUP2:34000
STRATEGY : SELL ON RISE
CS CRUDE OIL (AUGUST) OVERVIEW:
TREND :BEARISH
RESIST 2:2710
RESIST 1:2670
SUP1:2590
SUP2:2570
STRATEGY: SELL ON RISE
CS NATURAL GAS (AUGUST) OVERVIEW:
TREND :BEARISH
RESIST 2:182
RESIST 1:180
SUP1: 178
SUP2:177
STRATEGY: SELL ON RISE
BASE METAL
TREND :BEARISH
RESIST 2:342
RESIST 1:338
SUP1:333
SUP2:331
STRATEGY: SELL ON RISE
COMMODITY PICK OF THE DAY:
MCX GOLD
MCX CRUDE OIL SEP., Tuesday as seen
in the daily chart opened at 2633 levels and day high of 2661 levels. During
this period price corrected & made day low of 2600 levels finally closed at 2608 levels. Now, there are chances of
further downward movement technically & fundamentally.
U.S. crude stocks fell by 7.3
million barrels last week to 449.3 million, compared with analysts'
expectations for a rise of 1 million barrels as refinery runs rose, data
from the American Petroleum Institute showed on Tuesday.
DAILY RECOMMENDATION:
SELL MCX CRUDE OIL AUG., BELOW 2670
LEVELS FOR TARGET OF T1 2570, T2 2520
WITH SL OF 2800LEVELS.
LEVELS FOR TARGET OF T1 2570, T2 2520
WITH SL OF 2800LEVELS.
Get real time advice for Stock Market, Forex, Comex. Stock trading tips, Forex, Commodity Online like gold, silver, intraday bullion trading, copper, crude trading tips and all market updates. Our Special Services like Equity King, Bullion King & Agri King. We Provide Stock trading tips. For 2 Days Free Trial, please visit our site……
CapitalStars Financial Research Private Limited is an advisory company incepted with a vision of providing fair and accurate trading and investment calls in share and commodity market. CapitalStars also aveliable on social network
CapitalStars Financial Research Private Limited is an advisory company incepted with a vision of providing fair and accurate trading and investment calls in share and commodity market. CapitalStars also aveliable on social network
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. We generate intraday as well as delivery calls in Stock cash and F&O in NSE & BSE, Commodities including bullions, metals & Agro- commodities traded in MCX and NCDEX.
www.capitalstars.com | T:+91-731-6790000,6669900
CapitalStars Financial Research Financial Advisory Services
CapitalStars Financial Research Financial Advisory Services
