01 OCTOBER 2019 MCX DAILY REPORT

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MCX Daily Report 01ST OCT 2019

News Highlights

BULLION – Bullion counter may continue yesterday fall. Gold prices dropped over 2%
Monday, settling below the psychologically important level of $1,500 to post their lowest
finish in two months, as strength in U.S. dollar and some buoyancy in U.S. stocks and yields
drew demand away from bullion. G An easing of concerns of an escalation in the US-China
trade war took some shine off the safe-haven appeal of gold. China and US will resolve their
trade dispute "with a calm and rational attitude", China's Vice Commerce Minister Wang
Showmen said on Sunday, ahead of talks in two weeks between the two sides. Although the
Federal Reserve signaled at its last monetary policy meeting that it is not expecting to change
interest rates for the rest of the year. F The central bank is expected to add even more money
to the system in coming weeks.

ENERGY- Crude oil may witness lower level buying as U.S. crude futures rebounded in early
Asian trade on Tuesday after production at the world’s largest oil producers fell in the third
quarter, partly recovering from a more than 3% drop in the previous session. Output from the
Organization of the Petroleum Exporting Countries and Russia fell in September while
production from the United States dropped for a third month in July. OPEC’s output fell to the
lowest in eight years in September at 28.9 million barrels per day (bpd), down 750,000 bpd
from August’s revised figure and the lowest monthly total since 2011. Saudi Arabia pumped
about 9.78 million bpd in August. Russia’s output declined to 11.24 million bpd in Sept.

BASE METAL – Base metals may trade with sideways bias. China plans to step up economic
adjustments to counter its slowing economy while providing adequate liquidity in the
economy, the central bank said on Sunday. Copper slipped on Monday as worries about weak
demand due to the prolonged U.S.-China trade war weighed on sentiment, but above-
consensus industrial activity data from top consumer China provided price support. China
accounts for nearly half of global copper demand, estimated at 24 million tonnes this year.
Funds and traders squaring positions for end of quarter book keeping were behind price
moves in the afternoon session. The Caixin/Market Manufacturing Purchasing Managers’
Index (PMI) for September rose to 51.4 from 50.4 in August.

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MCX Daily Report 01ST OCT 2019

Precious Metals

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

TREND : BEARISH TREND : BEARISH

RESIST 2: 38290 RESIST 2:45750

RESIST 1: 37810 RESIST 1:44930

SUP 1:37060 SUP 1: 43640

SUP 2: 36790 SUP 2: 43160

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Base Metals

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

TREND : BEARISH TREND : SIDEWAYS

RESIST 2:442 RESIST 2:1311

RESIST 1:438 RESIST 1: 1296

SUP 1:432 SUP 1:1266

SUP 2:430 SUP 2:1251

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CS ZINC (OCT) OVERVIEW: CS LEAD (OCT) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 182 RESIST 2:154
RESIST 1:181 RESIST 1:153
SUP 1:179 SUP 1: 150
SUP 2: 178 SUP 2: 149

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CS ALUMINIUM (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2:135
RESIST 1: 134
SUP 1: 131
SUP 2: 130

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Energy

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

TREND : BEARISH TREND : BEARISH

RESIST 2:4000 RESIST 2: 167

RESIST 1:3900 RESIST 1:166

SUP 1: 3850 SUP 1: 164

SUP 2: 3810 SUP 2: 163

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MCX Daily Report 01ST OCT 2019

Pick for the DAY

MCX NATURALGAS OCT on MONDAY as seen in the Daily chart opened at 171.30 levels and
made day low of 165.30 levels. During this period NATURALGAS OCT high is 171.30 levels
and finally closed at 165.80 levels. Now, there are chances of up movement technically &
fundamentally.

DAILY RECOMMENDATION: SELL MCX NATURALGAS OCT BELOW 165 LEVELS FOR

TARGET OF 163/161 WITH SL 169 OF LEVELS.

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MCX Daily Report 01ST OCT 2019

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