25 SEP 2019 MCX DAILY REPORT

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MCX Daily Report 25TH SEPTEMBER 2019

News Highlights

BULLION - Bullion counter may trade with upside bias. Gold prices were trading steady on
Wednesday, a touch below a nearly three-week high hit in the previous session, as global
equities dipped after U.S. lawmakers launched a formal impeachment inquiry into President
Donald Trump. The dollar wobbled on Wednesday, while Asian stocks fell as impeachment
inquiry into Trump increased the prospects of prolonged political uncertainty in the world's
largest economy. Democrats in the U.S. House of Representatives on Tuesday launched a
formal impeachment inquiry into Trump, accusing him of seeking foreign help to smear
Democratic rival Joe Biden ahead of next year's election. The UK Supreme Court ruled on
Tuesday that Boris Johnson's decision to shut down parliament in the run-up to Brexit was
unlawful, but a defiant prime minister said he disagreed and vowed that Britain would leave
the EU by Oct. 31, come what May.
Issues.

ENERGY- Crude oil may remain on negative path. Oil prices fell for a second day on
Wednesday on worries about falling fuel demand after U.S. President Donald Trump’s
comments doused optimism over China-U.S. trade talks and reignited concerns on global
economic growth. Trump criticized China’s trade practices at the United National General
Assembly on Tuesday and said he would not accept a “bad deal” in U.S.-China trade
negotiations. China is the world’s largest oil importer and second-largest crude user while the
United States is the largest consumer. To meet its supply obligations to Saudi refineries
overseas, Saudi Aramco is buying oil from other Middle East producers. U.S. crude inventories
rose 1.4 million barrels last week, the American Petroleum Institute said on Tuesday,
compared with analysts’ forecasts of a 200,000-barrel drawdown.

BASE METAL – Base metals may trade with sideways bias. Base metals prices in London and
Shanghai veered between gains and losses on Wednesday as U.S. President Donald Trump's
criticism of China's trade practices hurt hopes of a trade deal. Sentiment was also curbed by
China's central bank governor Yi Gang's remarks that the world's second biggest economy is in
no rush to significantly loosen monetary policy to prop up slowing economic growth. U.S.
Treasury Secretary Steven Mnuchin said on Monday that he and U.S. Trade Representative
Robert Lighthizer would meet with Chinese vice Premier Liu He for trade talks in two weeks.
China has issued a fourth batch of quotas for imports of recently restricted types of scrap
metal, including another 31,658 tonnes of high-grade copper scrap, as the world's top metals
consumer continues to curb inbound scrap shipments. While zinc can trade in range China's.

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MCX Daily Report 25TH SEPTEMBER 2019

Precious Metals

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

TREND : SIDEWAYS TREND : SIDEWAYS

RESIST 2: 38170 RESIST 2: 48790

RESIST 1: 38410 RESIST 1: 48400

SUP 1: 37710 SUP 1: 47450

SUP 2: 37490 SUP 2: 46880

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Base Metals

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

TREND : BEARISH TREND : SIDEWAYS

RESIST 2: 445 RESIST 2: 1278

RESIST 1:443 RESIST 1: 1256

SUP 1:439 SUP 1: 1212

SUP 2: 437 SUP 2: 1190

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CS ZINC (SEP) OVERVIEW: CS LEAD (SEP) OVERVIEW:
TREND : BEARISH TREND : SIDEWAYS
RESIST 2: 184 RESIST 2: 156
RESIST 1: 181 RESIST 1: 155
SUP 1: 177 SUP 1: 153
SUP 2: 176 SUP 2: 152

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CS ALUMINIUM (SEP) OVERVIEW:
TREND : BEARISH
RESIST 2:137
RESIST 1: 136
SUP 1: 135
SUP 2: 134

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Energy

CS CRUDE OIL (OCT) OVERVIEW: CS NATURAL GAS (SEP) OVERVIEW:

TREND : SIDEWAYS TREND : SIDEWAYS

RESIST 2:4190 RESIST 2: 185

RESIST 1:4140 RESIST 1: 181

SUP 1: 4050 SUP 1: 175

SUP 2: 4010 SUP 2: 173

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MCX Daily Report 25TH SEPTEMBER 2019

Pick for the DAY

MCX ZINC SEP on TUESDAY as seen in the Daily chart opened at 183.50 levels and made day
low of 179.40 levels. During this period ZINC SEP high is 183.50 levels and finally closed at
179.85 levels. Now, there are chances of up movement technically & fundamentally.

DAILY RECOMMENDATION: SELL MCX ZINC SEP BELOW 180 LEVELS FOR TARGET OF

179/178 WITH SL 181 OF LEVELS.

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MCX Daily Report 25TH SEPTEMBER 2019

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