1567659742_05 SEPTEMBER 2019 MCX DAILY REPORT

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MCX Daily Report 05TH SEPTEMBER 2019

News Highlights

BULLION - Bullion counter may trade with sideways to upside bias. Gold prices fell on early Thursday,
with an uptick in equities propped up by positive developments around Brexit deadlock and Hong
Kong protests, but prices hovered near over six-year high hit in the last session on persistent concerns
about slowing global growth. The dollar index, which measures the greenback against a basket of
currencies, dipped to a one-week low, while Asian stocks perked up on progress in the political crises
in Britain and Hong Kong. The U.S. economy grew at a modest pace in recent weeks, with
manufacturing buffeted by a global slowdown while consumer purchases gave mixed signals on the
strength of household spending, the Federal Reserve reported on Wednesday. Christine Lagarde took
a major step towards becoming the European Central Bank’s next president on Wednesday, securing
the backing of a European Parliament committee after pledging to keep policy loose while
undertaking a broader strategy review. India’s gold imports plunged 73% in August from a year ago to
the lowest level in three years as a rally in local prices to a record high and a hike in import duty
discouraged retail buying, a government source said on Wednesday.

ENERGY- Crude oil may witness some profit booking after yesterday gains. Oil prices fell on Thursday,
giving up some of the strong gains of the previous session, after an industry report showed U.S. crude
stockpiles rose last week, against analyst expectations of a decline. U.S. crude stocks rose last week,
while gasoline inventories decreased and distillate stocks drew, data from industry group the
American Petroleum Institute (API) showed on Wednesday. 1 million, compared with analysts’
expectations for a decrease of 2.5 million barrels. Crude stocks at the Cushing, Oklahoma, delivery
hub fell by 238,000 barrels, while refinery crude runs fell by 306,000 barrels per day, API said. Oil
prices surged on Wednesday after a survey showed that activity in China’s services sector expanded
at the fastest pace in three months in August as new orders rose. U.S. President Donald Trump also
warned on Tuesday he would be “tougher” on Beijing if he wins a second term should trade talks drag
on, adding to fears of a possible U.S. recession. U.S. natural gas futures rose almost 4% to a fresh
seven-week high on Wednesday on forecasts for the weather to remain warmer than normal in Texas
and the Southeast through mid September despite projections for slightly lower cooling demand next
week than previously expected

BASE METAL - Base metals may trade with upside path. China said it will implement both broad and
targeted cuts in the reserve requirement ratio for banks "in a timely manner," an indication that a cut
in the key ratio aimed at boosting lending could be imminent. Shanghai copper rallied to over a one-
month high, while London copper jumped to its highest in more than two weeks on Thursday after
China and the United States agreed to hold trade talks next month. Chinese and U.S. officials are
scheduled to meet in early October in Washington to discuss trade issues, China's commerce ministry
said, adding that both sides agreed to take actual actions to create favourable conditions. LME
onwarrant copper inventories, or those available for delivery, fell to a two-month low of 209,650
tonnes.

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MCX Daily Report 05TH SEPTEMBER 2019

Precious Metals

CS GOLD (OCT) OVERVIEW: CS SILVER (DEC) OVERVIEW:

TREND : BULLISH TREND : BULLISH

RESIST 2: 40400 RESIST 2: 52000

RESIST 1: 40000 RESIST 1: 51500

SUP 1: 39200 SUP 1: 50600

SUP 2: 38800 SUP 2: 50200

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Base Metals

CS COPPER (SEP) OVERVIEW: CS NICKEL (SEP) OVERVIEW:

TREND : SIDEWAYS TREND : BULLISH

RESIST 2: 458.00 RESIST 2: 1280.00

RESIST 1: 454.00 RESIST 1: 1270.00

SUP 1: 446.00 SUP 1: 1250.00

SUP 2: 442.00 SUP 2: 1240.00

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CS ZINC (SEP) OVERVIEW: CS LEAD (SEP) OVERVIEW:
TREND : BEARISH TREND : SIDEWAYS
RESIST 2: 188.00 RESIST 2: 158.00
RESIST 1: 187.00 RESIST 1: 156.00
SUP 1: 185.00 SUP 1: 154.00
SUP 2: 184.00 SUP 2: 153.00

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CS ALUMINIUM (SEP) OVERVIEW:
TREND : BULLISH
RESIST 2: 143.00
RESIST 1: 142.00
SUP 1: 139.00
SUP 2: 138.00

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Energy

CS CRUDE OIL (SEP) OVERVIEW: CS NATURAL GAS (SEP) OVERVIEW:
TREND : SIDEWAYS TREND : BULLISH
RESIST 2: 4120 RESIST 2: 179.00

RESIST 1:4080 RESIST 1: 178.00
SUP 1: 4000 SUP 1: 175.00
SUP 2: 3960 SUP 2: 174.00

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MCX Daily Report 05TH SEPTEMBER 2019

Pick for the DAY

MCX NATURAL GAS SEP on MONDAY as seen in the Daily chart opened at 170.50 levels and
made day low of 169.50 levels. During this period NATURAL GAS SEP high is 176.10 levels
and finally closed at 175.20 levels. Now, there are chances of up movement technically &
fundamentally.

DAILY RECOMMENDATION: BUY MCX NATURAL GAS SEP ABOVE 176.50 LEVELS FOR

TARGET OF 177.50/178.50 WITH SL 175.50 OF LEVELS.

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MCX Daily Report 05TH SEPTEMBER 2019

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