11 OCT 2019 MCX DAILY REPORT

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MCX Daily Report 11TH OCT 2019

News Highlights

BULLION – Bullion counter may trade on weaker path as gold prices edged lower on Friday
as U.S. President Donald Trump’s remarks on progress in Sino-U.S. trade talks lifted risk
appetite, while palladium was set to end a three-day winning streak after touching a record
high in the previous session. Top U.S. and Chinese negotiators wrapped up a first day of trade
talks in more than two months on Thursday as business groups expressed optimism the two
sides might be able to ease a 15-month trade war and delay a U.S. tariff hike scheduled for
next week. Irish Prime Minister Leo Varadkar said on Thursday a Brexit deal could be clinched
by the end of October to allow the United Kingdom to leave the European Union in an orderly
fashion, after what he called a very positive meeting with Boris Johnson.

ENERGY- Crude oil may open on firm bias as oil prices rose early on Friday, building on gains
in the previous session, after producer club OPEC hinted at making deeper cuts in supply while
optimism was revived over talks between the United States and China to end their trade war.
On Thursday Mohammad Barminco, Secretary-General of the Organization of the Petroleum
Exporting Countries (OPEC), said all options were on the table, including a deeper supply cut
to balance oil markets. Beyond OPEC, trade talks between the United States and China also
remained on market radar as the world’s top two economies seek to resolve a more-than-a-
year-long trade row that has slowed global economic growth and curbed fuel consumption.

BASE METAL – Base metals may trade with positive bias. The trade dispute between the
world’s two biggest economies has weighed on global economic growth and dimmed the
demand outlook for industrial metals. A sign of progress in resolving the dispute often
supports base metal prices. Shanghai copper prices rose on Friday after U.S. President Donald
Trump said he would meet with China’s top trade negotiator, but London prices treaded
water as investors remained cautious ahead of the final day of trade talks. Vedanta Resources
said on Thursday it would shut its Scorpion zinc operations in Namibia from early November
until the end of February 2020 due to technical problems.

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MCX Daily Report 11TH OCT 2019

Precious Metals

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

TREND : SIDEWAYS TREND : BEARISH

RESIST 2:38730 RESIST 2:46730

RESIST 1: 38440 RESIST 1:46080

SUP 1: 37970 SUP 1: 44930

SUP 2: 37800 SUP 2: 44430

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Base Metals

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

TREND : BULLISH TREND : BULLISH

RESIST 2:447 RESIST 2:1285

RESIST 1:443 RESIST 1: 1270

SUP 1:439 SUP 1:1240

SUP 2:435 SUP 2:1225

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CS ZINC (OCT) OVERVIEW: CS LEAD (OCT) OVERVIEW:
TREND : BULLISH TREND : SIDEWAYS
RESIST 2: 187 RESIST 2:158
RESIST 1:186 RESIST 1: 157
SUP 1:184 SUP 1: 155
SUP 2: 183 SUP 2: 154

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CS ALUMINIUM (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:137
RESIST 1:136
SUP 1: 134
SUP 2: 133

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Energy

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

TREND : SIDEWAYS TREND : BEARISH

RESIST 2:3860 RESIST 2:160

RESIST 1:3820 RESIST 1:159

SUP 1: 3730 SUP 1: 157

SUP 2: 3680 SUP 2: 156

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MCX Daily Report 11TH OCT 2019

Pick for the DAY

MCX NATURALGAS OCT on THURSDAY as seen in the Daily chart opened at 160.30 levels
and made day low of 157.70 levels. During this period NATURALGAS OCT high is 161.90
levels and finally closed at 158.40 levels. Now, there are chances of up movement
technically & fundamentally.

DAILY RECOMMENDATION: SELL MCX NATURALGAS OCT BELOW 157 LEVELS FOR

TARGET OF 155/153 WITH SL 161 OF LEVELS.

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MCX Daily Report 11TH OCT 2019

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