26 SEPTEMBER 2019 MCX DAILY REPORT

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MCX Daily Report 26TH SEPTEMBER 2019

News Highlights

BULLION - Bullion counter may witness some lower level buying after yesterday sharp fall.
Gold prices inched higher on Thursday as investors resorted to bargain hunting after a sharp
drop in the previous session, although a firm dollar limited the gains. The dollar index posted
its sharpest daily gain in three months overnight and held steady in Asian trade as investors
welcomed U.S. President Donald Trump’s hints of progress toward a trade deal with China.
The United States is imposing sanctions on certain Chinese entities for knowingly transferring
oil from Iran, U.S. Secretary of State Mike Pompeo said in what he called fresh actions to
intensify pressure on Iran. Chicago Federal Reserve president Charles Evans said on
Wednesday he backed the Fed’s two recent rate cuts but feels the central bank is now “well-
positioned” to see how economic data

ENERGY- Crude oil may witness lower level buying as oil prices held nearly flat on Thursday
after U.S. President Donald Trump said a resolution to the China-U.S. trade rift would come
sooner than expected, helping to stave off pressure from rising oil supplies and worries about
global growth. Both Brent and WTI on Wednesday hit their lowest marks since the attacks on
Saudi Arabian oil facilities on Sept. 14, weighed down by a surprise 2.4 million barrels build in
U.S. crude inventories last week and a faster than expected recovery of Saudi production
capacity. A firmer dollar, which posted its sharpest daily gain in three months overnight and
held steady in Asian trade, also weighed on oil prices as it makes dollar-traded fuel imports
more costly for countries using other currencies.

BASE METAL – Base metals may trade with sideways to positive bias. Copper prices held
steady on Thursday in thin trade, as market participants refrained from taking big positions
ahead of a week-long holiday in top metals consumer China. Traders also shrugged off U.S.
President Donald Trump's comment that a deal to end a nearly 15-month trade war with
China could happen sooner than people think. China's nickel ore imports from Indonesia rose
26.5% year-on-year, customs data showed, as stainless steel producers stocked up on raw
materials ahead of a ban on exports from the Southeast Asian country.

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MCX Daily Report 26TH SEPTEMBER 2019

Precious Metals

CS GOLD (OCT) OVERVIEW: CS SILVER (DEC) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 38970 RESIST 2: 49030

RESIST 1: 38040 RESIST 1:47910
SUP 1: 37230 SUP 1: 46070
SUP 2: 37050 SUP 2: 45360
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Base Metals

CS COPPER (OCT) OVERVIEW: CS NICKEL (OCT) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 449 RESIST 2: 1260

RESIST 1: 448 RESIST 1: 1250
SUP 1: 445 SUP 1: 1220
SUP 2:443 SUP 2:1205

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CS ZINC (OCT) OVERVIEW: CS LEAD (OCT) OVERVIEW:
TREND : BEARISH TREND : SIDEWAYS
RESIST 2: 184 RESIST 2:157
RESIST 1:183 RESIST 1: 156
SUP 1:181 SUP 1: 154
SUP 2: 180 SUP 2: 153

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CS ALUMINIUM (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2:139
RESIST 1: 138
SUP 1: 136
SUP 2: 135

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Energy

CS CRUDE OIL (OCT) OVERVIEW: CS NATURAL GAS (OCT) OVERVIEW:
TREND : BEARISH TREND : BEARISH
RESIST 2:4140 RESIST 2: 180

RESIST 1:4070 RESIST 1: 178
SUP 1:3950 SUP 1: 174
SUP 2: 3890 SUP 2: 172

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Pick for the DAY

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MCX Daily Report 26TH SEPTEMBER 2019

MCX SILVER DEC on WEDNESDAY as seen in the Daily chart opened at 48100 levels and
made day low of 46785 levels. During this period SILVER DEC high is 48320 levels and finally
closed at 48022 levels. Now, there are chances of up movement technically &
fundamentally.

DAILY RECOMMENDATION: SELL MCX SILVER OCT BELOW 46700 LEVELS FOR TARGET

OF 46500/46300 WITH SL 46900 OF LEVELS.

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MCX Daily Report 26TH SEPTEMBER 2019

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