CapitalStars MCX Daily Report 30 July 2019

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MCX Daily Report 30TH JULY 2019

News Highlights

BULLION - Bullion counter may trade on mixed path. Gold prices eased on Tuesday as the
dollar held near multi-month highs, while investors awaited outcome of a two-day U.S.
Federal Reserve policy meeting, where the central bank is widely expected to reduce interest
rates. The dollar was up 0.1%, hovering near a two-month high hit in the previous session,
making gold expensive for holder of other currencies. The U.S. Fed begins a two-day policy
meeting later on Tuesday, at which it is widely expected to lower interest rates by 25 basis
points. If implemented, it would be the central bank’s first rate cut in a decade. Japan’s central
bank is expected to keep monetary policy on hold at a meeting ending later on Tuesday, but
some investors say there is a chance Japan’s central bank could change its forward guidance
to reassure traders that rates will remain low.

ENERGY- Crude oil may trade on positive path as oil prices extended overnight gains on
Tuesday amid widespread expectations the U.S. Federal Reserve will cut interest rates for the
first time in more than a decade this week. U.S. central bankers will begin their twoday
meeting later in the day and are expected to lower borrowing costs for the first time since the
depths of the financial crisis more than a decade ago. U.S. President Donald Trump said a
small rate cut “is not enough. Economic growth in the United States slowed less than
expected in the second quarter, strengthening the outlook for oil consumption but,
elsewhere, disappointing economic data has increased concerns about slower growth. Supply
risks are still a concern as tensions remained high around the Strait of Hormuz, through which
about a fifth of the world’s oil passes. Tensions spiked between Iran and the West after
Iranian commandos seized a British-flagged oil tanker in the Gulf this month in apparent
retaliation for the capture of an Iranian tanker by British forces near Gibraltar.

BASE METAL - Base metals may trade on sideways path. Industrial metals traded in tight
ranges on Tuesday as investors exercised caution ahead of planned U.S.-China trade talks and
a two-day U.S. Federal Reserve meeting starting later today. Meanwhile, U.S. and Chinese
officials are due to meet on Tuesday in Shanghai for talks on a year-long trade dispute that
has weighed on global economic growth and demand for industrial metals. Expectations for
progress at the U.S.-China trade meeting are low, so officials and businesses are hoping
Washington and Beijing can at least detail commitments for “goodwill” gestures and clear the
path for future negotiations. Steel futures in China slumped to their lowest in five weeks on
Monday ahead of the lifting of intensified production restrictions in the nation's top
steelmaking city of Tangshan.

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MCX Daily Report 30TH JULY 2019

Precious Metals

CS GOLD (AUG) OVERVIEW: CS SILVER (SEP) OVERVIEW:

TREND : SIDEWAYS TREND : SIDEWAYS

RESIST 2: 35200 RESIST 2: 41600

RESIST 1: 35000 RESIST 1: 41400

SUP 1: 34600 SUP 1: 41000

SUP 2: 34400 SUP 2: 40900

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Base Metals

CS COPPER (AUG) OVERVIEW: CS NICKEL (AUG) OVERVIEW:

TREND : SIDEWAYS TREND : SIDEWAYS

RESIST 2: 458.00 RESIST 2: 1020.00

RESIST 1: 455.00 RESIST 1: 1010.00

SUP 1: 450.00 SUP 1: 990.00

SUP 2: 445.00 SUP 2: 980.00

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CS ZINC (AUG) OVERVIEW: CS LEAD (AUG) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 196.00 RESIST 2: 158.00
RESIST 1: 195.00 RESIST 1: 157.00
SUP 1: 193.00 SUP 1: 155.00
SUP 2: 192.00 SUP 2: 154.00

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CS ALUMINIUM (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 143.00
RESIST 1: 142.00
SUP 1: 140.00
SUP 2: 139.00

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Energy

CS CRUDE OIL (AUG) OVERVIEW: CS NATURAL GAS (JUL) OVERVIEW:
TREND : SIDEWAYS TREND : BEARISH
RESIST 2: 4000 RESIST 2: 150.00

RESIST 1:3960 RESIST 1: 148.00
SUP 1: 3890 SUP 1: 144.00
SUP 2: 3850 SUP 2: 143.00

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MCX Daily Report 30TH JULY 2019

Pick for the DAY

MCX ALUMINIUM AUG on MONDAY as seen in the Daily chart opened at 141.75 levels and
made day low of 140.55 Levels. During this period ALUMINIUM AUG High is 141.90 levels
and finally closed at 141.55 levels. Now, there are chances of down movement technically &
fundamentally.

DAILY RECOMMENDATION: SELL MCX ALUMINIUM AUG BELOW 141.60 LEVELS FOR

TARGET OF 140.60/139.60 WITH SL 142.60 OF LEVELS.

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MCX Daily Report 30TH JULY 2019

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