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MCX Daily Report 6 May 2019

Bullion counter may trade on sideways to upside bias as gold rose on Monday after U.S.<br>President Donald Trump threatened to impose tariffs on Chinese goods, indicating a dramatic<br>deterioration in Sino-U.S. trade talks and prompting a sharp downturn in riskier assets.

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MCX Daily Report 6 May 2019

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  1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report 06TH MAY 2019 News Highlights BULLION - Bullion counter may trade on sideways to upside bias as gold rose on Monday after U.S. President Donald Trump threatened to impose tariffs on Chinese goods, indicating a dramatic deterioration in Sino-U.S. trade talks and prompting a sharp downturn in riskier assets. United States President Donald Trump dramatically increased pressure on China to reach a trade deal by announcing on Sunday he would hike tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon. Gold is used as a safe-haven investment in times of geopolitical or global economic turmoil. Gold demand was robust in India and Singapore last week as a correction in prices ahead of a key gold-buying festival boosted purchases even as major centres like China and Japan were closed for most of the week due to holidays. SPDR Gold Trust, the world’s largest gold-backed exchange traded fund, said its holdings fell 0.63 percent to 740.82 tonnes on Friday from 745.52 tonnes on Thursday. ENERGY- Crude oil may continue to extend losses as oil prices tumbled by more than 2 percent on Monday after U.S. President Donald Trump on Sunday said he would sharply hike tariffs on Chinese goods this week, risking derailing months of trade talks between the world’s two biggest economies. Trump on Sunday said on Twitter he would drastically hike U.S. tariffs on Chinese goods this week, pulling down global financial markets, including crude oil futures. Crude oil may dip towards 4160 while facing resistance near 4260 in MCX Within the oil industry, there are signs of a further rise in output from the United States, where crude production EIA has already surged by more than 2 million barrels per day (bpd) since early 2018, to a record 12.3 million bpd. That has made the United States the world’s biggest producer ahead of Russia and Saudi Arabia. The number of rigs drilling for gas in the United States fell by 3 to 183 in the week to May 3, while oil-directed drilling rigs rose by 2 to 807, data from oil services firm Baker Hughes showed on Friday. BASE METAL - Base metals prices may trade with weak bias as Shanghai base metals fell sharply on Monday, with copper and nickel declining more than 3 percent, as trade tensions between China and the United States escalated, just days after investors were upbeat about progress in the two countries' trade talks. Trump tweeted on Sunday that he will raise U.S. tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent on Friday, and threatened to targets hundreds of billions of dollars more in trade. Trump's comments stand in contrast to the recent positive signals emanating from both the U.S. and Chinese camps that progress to end the tit-for-tat tariff war was being made and a deal was within sight. It's unlikely that China's leaders will want to be seen to be caving in front of threats by a bullying U.S. president, but at the same time they are also keen to reach an agreement that will alleviate some of the pressure on their export-led manufacturing sector. China’s steel futures dropped on Monday, the first trading day after a four-day national holiday, hit by worries over the outlook for trade after U.S. President Donald Trump said he would hike U.S. tariffs on $200 billion worth of Chinese goods. That came as the two countries had been working to reach a deal to end a months-long tit-for-tat trade war following rounds of negotiations among senior officials in the two governments.

  2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report 06TH MAY 2019 Precious Metals CS GOLD (JUN) OVERVIEW: TREND : BEARISH RESIST 2: 31600 RESIST 1: 31500 SUP 1: 31300 SUP 2: 31100 WWW.CAPITALSTARS.COM +919977499927 CS SILVER (JUL) OVERVIEW: TREND : SIDEWAYS RESIST 2: 38500 RESIST 1: 37700 SUP 1: 36300 SUP 2: 35600 WWW.CAPITALSTARS.COM +919977499927 Base Metals CS COPPER (JUN) OVERVIEW: TREND : BEARISH RESIST 2: 440.00 RESIST 1: 438.00 SUP 1: 430.00 SUP 2: 426.00 WWW.CAPITALSTARS.COM +919977499927 CS NICKEL (MAY) OVERVIEW: TREND : BEARISH RESIST 2: 866.00 RESIST 1: 857.00 SUP 1: 840.00 SUP 2: 833.00 WWW.CAPITALSTARS.COM +919977499927 CS ZINC (MAY) OVERVIEW: TREND : BEARISH RESIST 2: 224.00 RESIST 1: 222.00 SUP 1: 218.00 SUP 2: 216.00 WWW.CAPITALSTARS.COM +919977499927 CS LEAD (MAY) OVERVIEW: TREND : BEARISH RESIST 2: 133.00 RESIST 1: 132.00 SUP 1: 130.00 SUP 2: 129.00 WWW.CAPITALSTARS.COM +919977499927 CS ALUMINIUM (MAY) OVERVIEW: TREND : BEARISH RESIST 2: 148.00 RESIST 1: 147.00 SUP 1: 144.00 SUP 2: 143.00 WWW.CAPITALSTARS.COM +919977499927 Energy CS CRUDE OIL (MAY) OVERVIEW: TREND : BEARISH RESIST 2: 4390 RESIST 1:4350 SUP 1: 4260 SUP 2: 4220 WWW.CAPITALSTARS.COM +919977499927 CS NATURAL GAS (MAY) OVERVIEW: TREND : SIDEWAYS RESIST 2: 185.00 RESIST 1: 182.00 SUP 1: 177.00 SUP 2: 174.00 WWW.CAPITALSTARS.COM +919977499927

  3. CapitalStars Financial Research Pvt., Ltd., 3 SEBI Registration Number: INA000001647 MCX Daily Report 06TH MAY 2019 Pick for the DAY MCX NICKEL MAY on FRIDAY as seen in the Daily chart opened at 844.40 levels and made day low of 842.20 Levels. During this period NICKEL MAY High is 859.10 levels and finally closed at 847.10 levels. Now, there are chances of down movement technically & fundamentally. DAILY RECOMMENDATION: SELL MCX NICKEL MAYBELOW 834.90 LEVELS FOR TARGET OF 824/818 WITH SL 850 OF LEVELS.

  4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report 06TH MAY 2019 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 financial adviser. 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 all Rights. CONTACT US BRANCH OFFICE Capitalstars Financial Research Private Limited PLOT NO.32, MECHANIC NAGAR EXTENSION, IDA SCHEME NO.54, VIJAYNAGAR INDORE REGISTERED OFFICE PLOT NO.12, SCHEME NO.78 PART-II, VIJAY NAGAR, INDORE Email :- backoffice@capitalstars.com CONTACT US:- 9039012727/9977499927 Report Is Checked By Investment Advisor:

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