09 OCT 2019 MCX DAILY REPORT

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MCX Daily Report 09TH OCT 2019

News Highlights

BULLION – Bullion counter may trade on sideways bias but profit booking at higher levels
can be seen later today. Gold prices surged after a two-day fall, tracking a similar global
trend. Gold traders will also focus on top-level US-China trade talks, scheduled to start later
this week. In global markets, gold prices moved higher after touching a near one-week low, as
the dollar eased. Gold also drew support from the dollar, with the dollar index shedding
overnight gains against rivals. Silver gained 0.4% to $17.51 an ounce. Reflecting strong
investment demand for gold, holdings of the world's largest gold-backed ETF, SPDR Gold
Shares, held close to their highest in nearly three years at about 923.76 tonnes.

ENERGY- Crude oil may witness some short covering at lower levels. Oil prices slipped for a
third consecutive session on Wednesday as the prospect of the United States and China
striking a trade deal in talks this week dimmed, raising uncertainties for global economic
growth and oil demand. U.S. industry data showing a bigger-than-expected rise in stockpiles at
the world’s top oil producer also depressed prices. Negotiators from the world’s top two
economies will meet in Washington on Thursday and Friday in the latest effort to hammer out
a deal aimed at ending a long-running trade dispute that has slowed global economic growth.
.

BASE METAL – Base metals may trade with sideways bias. Investors’ focus now shifts to U.S.-
China trade talks scheduled to resume on Oct. 10- 11, with President Donald Trump saying
that his administration had a “very good chance” of making a trade deal with China.
Washington blacklisted Chinese companies over Beijing’s treatment of predominantly Muslim
ethnic minorities while President Donald Trump said a quick trade deal was unlikely. August
production by copper miner Codelco rose 9.3 per cent year-on-year to 154,700 tonnes, while
output fell 8.5 per cent year-on-year to 770,800 tonnes at BHP's Escondida mine. Output rose
0.5 per cent year-on-year to 352,500 tonnes at Anglo American's and Glencore's Collahuasi in
the same month, state copper commission Cotillo said on Monday.

Precious Metals

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MCX Daily Report 09TH OCT 2019

CS GOLD (DEC) OVERVIEW: CS SILVER (DEC) OVERVIEW:
TREND : SIDEWAYS TREND : BULLISH
RESIST 2: 38780 RESIST 2:46780
RESIST 1: 38580 RESIST1:46170
SUP 1: 38200 SUP 1: 45540
SUP 2: 38030 SUP 2: 45210

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Base Metals

CS COPPER (OCT) OVERVIEW: CS NICKEL (OCT) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS

RESIST 2:444 RESIST 2:1282
RESIST 1:440 RESIST 1: 1267

SUP 1:436 SUP 1:1252
SUP 2:432 SUP 2:1237

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CS ZINC (OCT) OVERVIEW: CS LEAD (OCT) OVERVIEW:
TREND : SIDEWAYS TREND : BEARISH
RESIST 2: 183 RESIST 2:157
RESIST 1:182 RESIST 1: 156
SUP 1:180 SUP 1: 154
SUP 2: 179 SUP 2: 153

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CS ALUMINIUM (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2:137
RESIST 1:136
SUP 1: 134
SUP 2: 132

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Energy

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

TREND : SIDEWAYS TREND : BULLISH

RESIST 2:3790 RESIST 2:165

RESIST 1:3770 RESIST 1:164

SUP 1: 3710 SUP 1: 162

SUP 2: 3670 SUP 2: 161

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Pick for the DAY

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MCX Daily Report 09TH OCT 2019

MCX LEAD OCT on TUESDAY as seen in the Daily chart opened at 157.40 levels and made
day low of 155.75 levels. During this period LEAD OCT high is 158.55 levels and finally closed
at 155.95 levels. Now, there are chances of up movement technically & fundamentally.

DAILY RECOMMENDATION: SELL MCX LEAD OCT ABOVE 155 LEVELS FOR TARGET OF

156/157 WITH SL 153 OF LEVELS.

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MCX Daily Report 09TH OCT 2019

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