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Tuesday, 19 March 2019

mcx updates

BULLION - Bullion counter may trade with sideways to negative bias as gold prices snapped three consecutive sessions of gains on Wednesday as the dollar firmed, while investors awaited the results of the U.S. Federal Reserve's policy meeting later in the day. Major currencies stuck to tight ranges in early Asian trading on Wednesday as investors awaited the outcome of the Federal Reserve's March policy meeting later in the day. Traders currently expect there will be no U.S. rate hikes this year, and is even building in bets for a rate cut in 2020. Federal Reserve Chairman Jerome Powell will speak at a news conference on Wednesday. Prime Minister Theresa May will ask the European Union to delay Brexit by at least three months after her plan to hold a third vote on her fraught divorce deal was thrown into disarray by a surprise intervention from the speaker of parliament. The United States imposed sanctions on Tuesday against Venezuela's state-run gold mining company Minerven and its president, Adrian Perdomo, accusing them of illicit operations and propping up the government of President Nicolas Maduro.

ENERGY- Crude oil (Apr) may trade on sideways path as it may trade in range of 4070-4120 in MCX. Oil prices dipped on Wednesday, retreating from a four-month high as economic growth concerns dampened the outlook for fuel consumption. The dips come after crude prices rose by more than a quarter this year, pushed up by a pledge led by the Organization of the Petroleum Exporting Countries (OPEC) to withhold around 1.2 million barrels per day (bpd) of supply as well as by U.S. sanctions against oil exporters Iran and Venezuela. Between those price levels, Ruecker said "the U.S. shale boom almost fully meets global oil demand growth mirrored by the strongly expanding crude oil exports," which hit a record 3.6 million bpd in February. U.S. natural gas futures edged up to a two-week high on Tuesday on forecasts for cooler weather and higher heating demand next week than previously expected.

BASE METAL - Base metals prices may trade with weak bias as most industrial metals on the London Metal Exchange fell on Wednesday, shrugging off some gains in the previous sessions as investors turned cautious ahead of the result of the U.S. Federal Reserve rate meeting later in the day. LME zinc stocks have fallen by 1.18 million tonnes from their 2012 peak. The exchange's stock reports have thrown up many surprises over the intervening years, with the downtrend sporadically interrupted by mass movements of off-market metal onto LME warrant, particularly in New Orleans. But the New Orleans zinc round-about appears to have ground to a halt. The last significant inflow at the port was in October and there have been no arrivals at all this year. The only zinc to enter the LME warehouse system in 2019 has been a highly modest 2,150 tonnes at the Spanish port of Bilbao and a single-lot delivery of 25 tonnes at the Belgian port of Antwerp.




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DAILY NIFTY SMART MOVERS 
SCRIPTS PRICE VOLUME (IN 000�S) PRE. CLOSE CHANGE (%) CHANGE (Rs.)
Edelweiss Financial 197.20 835.37 187.45 5.20 9.75
PNB 90.50 6837.29 86.55 4.56 3.95
Bank Of Baroda 124.30 1644.15 120.40 3.24 3.90
Bharti Infratel 326.90 150232.30 317.90 2.83 9.00
Federal Bank 93.70 809.65 91.35 2.57 2.35


DAILY NIFTY TOP LAGGARDS

SCRIPTS PRICE VOLUME (000�S) PRE. CLOSE CHANGE (%) CHANGE (Rs.)
Mah & Mah Finl. Serv 417.00 144.96 429.15 -2.83 -12.15
Eicher Motors 21704.00 83.22 22271.90 -2.55 -567.90
TVS Motor 478.25 149.05 489.75 -2.35 -11.50
JSW Steel 288.25 424.04 295.10 -2.32 -6.85
Hero MotoCorp 2615.40 59.10 2671.50 -2.10 -56.10

BEST CALL OF THE DAY (FINAL TG )

NIFTY FUTURE 

BUY NIFTY FUT FINAL TGT 

HNI OPTION 

BUY INFRATEL CALL 320 FINAL TGT 

BLUECHIP OPTION 

BUY ONGC CALL 150 FINAL TGT 

INDEX OPTION 

BUY NIFTY CALL 11000 FINAL TGT 

HNI FUTURE

SELL LT FUT BOOKED 50% 



Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
 

For more details call on 9977499927 or visit our website www.capitalstars.com

Monday, 18 March 2019


BULLION - Bullion counter may trade with sideways to positive bias as old prices rose for a third consecutive session on Tuesday as the dollar weakened on expectations that the U.S. Federal Reserve will maintain a dovish tone at its monetary policy meeting this week. Traders currently expect there will be no U.S. rate hikes this year, and is even building in bets for a rate cut in 2020. Federal Reserve Chairman Jerome Powell will speak at a news conference on Wednesday. Gold can witness bounce back towards 31800. Silver can take support near 37800 and can recover towards 38250. Prime Minister Theresa May's Brexit plans were thrown into further turmoil on Monday when the speaker of parliament ruled that she could not put her divorce deal to a new vote unless it was re-submitted in a fundamentally different form. European Union leaders could hold off making a final decision on any Brexit delay when they meet in Brussels later this week, senior diplomats in the bloc said, depending on what exactly British Prime Minister Theresa May asks them for.

ENERGY- Crude oil (Apr) may trade on sideways path as it may trade in range of 4060-4120 in MCX. Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC. U.S. sanctions against oil producers Iran and Venezuela are also boosting prices, although traders said the market may be capped by rising U.S. output. The Organization of the Petroleum Exporting Countries (OPEC) on Monday scrapped its planned meeting in April, effectively extending supply cuts that have been in place since January until at least June, when the next meeting is scheduled. OPEC and a group of non-affiliated producers including Russia, known as OPEC+, started withholding supply to halt a sharp price drop in the second-half of 2018, when markets came under pressure from surging output as well as an economic slowdown.

BASE METAL - Base metals prices may trade with positive bias. Copper may test 446 while taking support near 441 in MCX. Copper prices ticked up on Tuesday, supported by China�s announcement to cut tax for manufacturers from next month to boost growth in the world�s second-largest economy. China will cut value-added tax for manufacturing and other sectors on April 1, Premier Li Keqiang said on Friday, adding that cuts in taxes and fees remained a key measure to cope with downward pressure on its economy. Aluminium and nickel contracts ticked up on both London and Shanghai exchanges, with the three-month London aluminium hovering near an over-two-week high level.


Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Sunday, 17 March 2019



BULLION - Bullion counter may trade with sideways to weak bias as gold prices slipped on Monday as equity markets gained and the dollar steadied ahead of a U.S. Federal Reserve policy meeting later this week. There is much talk Fed policymakers will lower their interest rate forecasts, or �dot plots�, to show little or no further tightening this year. Gold can slip lower towards 31600. Silver can take support near 37700 and resistance near 38300. Uncertainty on the outlook for the world economy and global trade as well as a sharp U.S. growth slowdown expected by a range of forecasters mean that markets are on a hair trigger for signals from the Fed. Physical gold demand improved this week in India as a correction in local prices attracted buyers, particularly with the wedding season underway, while premiums in China rose on steady buying in the world�s leading consumer.


ENERGY- Crude oil may open on sideways path as it may trade in range of 4000-4060 in MCX. Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. OPEC�s de-facto leader Saudi Arabia said on Sunday that balancing oil markets was far from done as inventories were still high. The International Energy Agency (IEA) said on Friday it expected oil markets to be in a modest deficit from the second quarter of 2019. The number of rigs drilling for new oil production in the United States has been falling in 2019, and hit its lowest level since April 2018 last week, at 833 operating rigs. However, U.S. crude oil production EIA still increased at the start of 2019, hitting a record 12.1 million barrels per day (bpd) in February, data from the Energy Information Administration (EIA) showed. The previous low for the trade gap was $9.4 billion in September 2017.



BASE METAL - Base metals prices may trade with sideways to weak bias. Most industrial metals fell in early Asian trade on Monday after weak U.S. manufacturing data offered further evidence of a slowdown in economic growth early in the first quarter, while investors waited for clues as to when the Sino-U.S. trade war will end. Copper may slip lower towards 442 while facing resistance near 453 in MCX. Vedanta Ltd on Friday named metals industry veteran Pankaj Kumar as Sterlite Copper chief executive, amid struggles to reopen its smelter in southern India that was shut after police killed 13 demonstrators protesting against the plant. China's refined copper output in January and February rose by 6.3 percent year-on-year to 1.34 million tonnes, the National Bureau of Statistics said on Friday. On a daily basis, output was around 22,712 tonnes, down 16.1 percent from December. Russian tycoon Oleg Deripaska sued the United States on Friday, alleging that it had overstepped its legal bounds in imposing sanctions on him and made him the "latest victim" in the U.S. probe into Moscow's alleged election interference. 







Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Thursday, 14 March 2019



BULLION - Bullion counter may trade with weak bias but short covering at lower levels can be seen. Gold can slip lower towards 31700. Silver can take support near 37800 and resistance near 38300. Gold prices edged down on Friday after slipping below the key $1,300 level in the previous session, pressured by improving appetite for risk as British lawmakers voted to seek a delay to the country's exit from the European Union. British lawmakers voted overwhelmingly on Thursday to seek a delay in Britain's exit from the European Union, setting the stage for Prime Minister Theresa May to renew efforts to get her divorce deal approved by parliament next week. A summit to seal a trade deal between U.S. President Donald Trump and Chinese President Xi Jinping will not happen at the end of March as previously discussed because more work is needed in U.S.-China negotiations, Treasury Secretary Steven Mnuchin said on Thursday. The number of Americans filing applications for unemployment benefits increased more than expected last week, suggesting the labor market was slowing, while new home sales fell more than expected in January.

ENERGY- Crude oil may open on sideways path as it may trade in range of 4010-4100 in MCX. Oil prices were steady on Friday, supported as production cuts led by OPEC and U.S. sanctions against Venezuela and Iran likely created a slight deficit in global supply in the first quarter of 2019. But oil prices have been capped by concerns that an economic slowdown will soon start denting growth in fuel demand. The Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies such as Russia - known as the OPEC+ alliance - pledged to withhold 1.2 million barrels per day (bpd) in crude supply from the start of the year to tighten markets and prop up prices. Meanwhile, U.S. sanctions against Venezuela as well as Iran have further tightened oil markets. With OPEC voluntarily withholding supply and U.S. sanctions preventing Iranian and Venezuelan oil from entering markets, global crude flow data in Refinitiv showed a slight supply deficit likely appeared in the first quarter. Natural gas may remain sideways as it can take support near 195 while taking resistance near 201 in MCX. U.S. natural gas futures edged up on Thursday after the release of a federal report showing the biggest weekly storage draw ever during the month of March.

BASE METAL - Base metals prices may trade with sideways to weak bias. Base metals fell in early trade on Friday, with Shanghai nickel down nearly 2 percent and copper extending losses, as hopes dimmed that the United States and China could reach a deal soon to resolve their long-standing trade dispute. A summit to seal a trade deal between U.S. President Donald Trump and Chinese President Xi Jinping will not happen at the end of March as previously discussed because more work is needed in U.S.-China negotiations, Treasury Secretary Steven Mnuchin said on Thursday Copper may slip lower towards 440 while facing resistance near 453 in MCX. Zinc can take support near 196 while facing resistance near 201. On-warrant stocks of copper, those not earmarked for delivery, in LME-approved warehouses jumped 34,900 tonnes to 66,325 tonnes as of Thursday. The premium of cash copper over the three-month LME contract eased to $20 a tonne from a discount of $70 last week, indicating worries over tight supply were easing. 




Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Wednesday, 13 March 2019



BULLION - Bullion counter may trade with mixed bias Gold held close to two-week highs on Thursday as the U.S. dollar eased after British lawmakers rejected a no-deal Brexit in any scenario and as tepid U.S. inflation data reduced the chance of future U.S. interest rate hikes. The British parliament on Wednesday rejected leaving the European Union without a deal, further weakening Prime Minister Theresa May and paving the way for a vote that could delay Brexit until at least the end of June. Gold can take support near 32050 and can recover towards 32250. Silver can take support near 38500 and can recover towards 38900. U.S. producer prices barely rose in February, resulting in the smallest annual increase in more than 1-1/2 years, in the latest sign of benign inflation that supports the Federal Reserve's wait-and-see approach to further interest rate hikes this year. U.S. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations.

ENERGY- Crude oil may open on positive bias as it may test 4100 in MCX. Brent crude oil prices on Thursday hit their highest so far this year, pushed up by ongoing supply cuts led by OPEC and by U.S. sanctions against Venezuela and Iran. An unexpected dip in U.S. crude oil inventories and production also lifted prices, The Organization of the Petroleum Exporting Countries (OPEC) and some nonaligned producers including Russia have been withholding oil supply since the start of the year to tighten global markets and prop up crude prices. In Venezuela, oil production and exports have been disrupted by a political and economic crisis that has caused massive blackouts and supply shortages, while Washington has barred U.S. companies from doing business with the Venezuelan government, including state-owned oil firm PDVSA. Natural gas may remain sideways as it can take support near 195 while taking facing resistance near 200 in MCX. U.S. natural gas futures settled higher on Wednesday on expectations that a federal report on Thursday will show a much higher-than-normal weekly withdrawal, deepening the storage deficit.

BASE METAL - Base metals prices may trade with sideways bias. Growth in China's industrial output fell to a 17-year low in the first two months of the year, pointing to further weakness in the world's second-biggest economy. But investment picked up speed as the government fast-tracked more road and rail projects, offering some relief for policymakers as they work to avert a sharper slowdown, data showed on Thursday. Copper may take support near 446 and can face resistance near 458 in MCX. Zinc can take support near 196 while facing resistance near 201. Zinc edged down from near eight-month highs on Thursday after comments from U.S. President Donald Trump chilled optimism over an imminent China trade deal, while tight supply of metal underpinned prices. LME zinc stocks have fallen to 58,950 tonnes, the lowest since October 2007, and down from around 250,000 tonnes as recently as August. In recent years, traders have been holding metal outside LME warehouses where storage is cheaper. 



Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
 

For more details call on 9977499927 or visit our website www.capitalstars.com

Monday, 11 March 2019




BULLION - Bullion counter may witness some bounce back at lower levels as the dollar edged lower against major currencies following the U.S. retail sales data and a rally in the pound. U.S. retail sales rose 0.2 in January, surprising economists who had expected an unchanged result. Gold can take support near 31700 and can recover towards 32100. Silver can take support near 38000 and can recover towards 38700. Prime Minister Theresa May won legally binding Brexit assurances from the European Union on Monday in a last ditch attempt to sway rebellious British lawmakers who have threatened to vote down the deal again. Federal Reserve chairman Jerome Powell said the U.S. central bank does  not feel any hurryâ to change the level of interest rates again as it watches how a slowing global economy affects local conditions in the U.S. 

ENERGY- Crude oil may open on positive note as oil prices rose on Tuesday, lifted by output cuts led by producer group OPEC as well as healthy demand, and although analysts said economic headwinds posed downside risks to crude markets. Venezuela opposition-run congress on Monday declared a state of alarm over a five-day power blackout that has crippled the country oil exports and left millions of citizens scrambling to find food and water. The United States will drive global oil supply growth over the next five years, adding another 4 million barrels per day (bpd) to the country already booming output, the International Energy Agency said on Monday. U.S. crude oil output will rise nearly 2.8 million bpd, growing to 13.7 million bpd in 2024 from an average of just under 11 million bpd in 2018, the IEA said, making the United States by far the biggest oil producer in the world. Natural gas may remain sideways as it can take support near 192 while taking facing resistance near 196 in MCX. U.S. natural gas futures fell to a two-week low on Monday on forecasts for the weather to turn warmer over the next two weeks than previously expected. Meteorologists now project temperatures will remain near normal through late March. Last week, they were forecasting seasonal weather this week and cooler than normal temperatures next week.

BASE METAL - Base metals prices may trade with positive bias. London base metal prices rose across the board in early Asian trade on Tuesday, supported by a weaker dollar and tracking stock markets higher after the European Commission agreed to changes in a Brexit deal. Copper may take support near 445 and can recover towards 458 in MCX. China's automobile sales fell 13.8 percent year-onyear in February, marking the eighth consecutive month of decline in the world's largest auto market. Zinc can take support near 192 while facing resistance near 195. The global zinc market deficit narrowed to 28,000 tonnes in January from a revised deficit of 62,400 tonnes in December, data from the International Lead and Zinc Study Group (ILZSG) showed. Lead can move in range of 143-146. Nickel can also test 920 while taking support near 900. Aluminum prices may trade in range of 142-144. Queues to take aluminum out of LME-approved warehouses owned by ISTIM UK in Port Klang, Malaysia rose to 229 days in February from 118 days in January and zero days in December.



Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
 

For more details call on 9977499927 or visit our website www.capitalstars.com