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Tuesday, 21 May 2019

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BULLION - Bullion counter may trade on the weaker bias as gold eased on Tuesday after touching a more than two-week low in the previous session, as strong dollar diminished bullion's safe-haven appeal amid heightening Sino-U.S. trade tensions. The dollar held near a 2-1/2-week high on Tuesday, supported by higher U.S.-yields and as intensifying trade frictions between the United States and China boosted appetite for the safe-haven greenback. Worries that the United States and China were digging in for a longer, costlier trade war weighed on financial markets on Monday as Beijing accused Washington of harboring extravagant expectations for a deal to end their dispute. Gold, which is generally considered a safe-haven asset, has shrugged most news of escalating political tensions, much to the bulls dismay. Elsewhere, Russia raised gold holdings by 15.15 tonnes to 2,183.52 tonnes in April, data from the International Monetary Fund (IMF) showed on Monday. Russia gold reserves stood at 70.2 million troy ounces as of the start of May, the country central bank said on Monday.

ENERGY- Crude oil may trade with an upside bias as oil prices edged up on Tuesday on escalating tensions between the United States and Iran and on signs that producer club OPEC will continue withholding supply this year. However, gains were checked by concerns that a prolonged Sino-U.S. trade war could lead to a global economic slowdown. U.S. President Donald Trump on Monday threatened Iran with "great force" if it attacked U.S. interests in the Middle East. This came after a rocket attack in Iraq's capital Baghdad, which Washington suspects to have been organized by militia with ties to Iran. The tension comes amid an already tight market as the Organization of the Petroleum Exporting Countries (OPEC), Russia and other non-OPEC producers have been withholding supply since the start of the year to prop up prices. A meeting has been scheduled for June 25-26 to discuss the policy, but the cartel is now considering moving the event to July 3-4, according to OPEC sources on Monday, with its de-facto leader Saudi Arabia signaling a willingness to continue withholding output. U.S. natural gas futures climbed to a five-week high due to a steep drop in production and on forecasts power generators would burn more gas than previously expected to produce electricity to meet higher air conditioning demand over the next two weeks

BASE METAL - Base metals may remain with witness some bounce back at lower levels London copper prices rose in early Asian trade on Tuesday after the United States temporarily eased some trade restrictions on Chinese telecoms giant Huawei. On Thursday, the U.S. government had added Huawei and 68 entities to an export blacklist that makes it nearly impossible for the Chinese company to purchase goods made in the United States, escalating Sino-U.S. trade tensions and weighing on prices for industrial metals. The global world refined copper market showed a 74,000 tonnes surplus in February, compared with a 33,000 tonnes deficit in January, the International Copper Study Group (ICSG) said in its latest monthly bulletin.

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Monday, 20 May 2019

 capitalstar
BULLION - Bullion counter may trade on the weaker bias on stronger local currency rupee amid expectation of clear majority to the present government in the exit polls. Gold steadied on Monday after four days of falls, as a Sino-U.S. trade dispute aggravated by a Huawei ban and U.S. President Donald Trump'ss latest threat to Tehran fuelled interest in the safe-haven metal. Gold fell to a two-week low of $1,274.51 an ounce on Friday after data showed U.S. consumer sentiment jumped to a 15-year high in early May amid growing confidence over the economy's outlook. U.S. President Donald Trump issued a new threat to Tehran on Sunday, tweeting that a conflict would be the official end of Iran, as Saudi Arabia warned it stood ready to respond with all strength's and said it was up to Iran to avoid war. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.4% to 736.17 tonnes on Friday from 733.23 tonnes on Thursday. Hedge funds and money managers raised their net long positions in COMEX gold in the week to May 14, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

ENERGY- Crude oil may trade with an upside bias as oil prices jumped as much as 1 percent on Monday after Saudi Energy Minister Khalid alFalih indicated there was a consensus among OPEC and allied oil producers to continue limiting supplies. The rally came after Falih said on Sunday there was a consensus among Organization of the Petroleum Exporting Countries and other non-OPEC producers to drive down crude inventories gently's '', but his country would remain responsive to the needs of what he called a fragile market. OPEC, Russia and other non-member producers, an alliance known as OPEC+, agreed to reduce output by 1.2 million barrels per day from Jan. 1 for six months, a deal designed to stop inventories building up and prices weakening. U.S. West Texas Intermediate (WTI) crude futures were at $63.39 per barrel, up 63 cents, or 1%, from their previous settlement. 

BASE METAL - Base metals may remain with a weak bias on the stronger rupee. Benchmark copper on the London Metal Exchange rose in early Asian trading on Monday after last week's slump, but Shanghai industrial metals edged down as investors remained wary about the intensifying U.S.-China trade war. Beijing has called on Washington to show "sincerity" if it is to hold meaningful trade talks, after the United States put China's Huawei Technologies Co Ltd [RIC:RIC: HWT.UL], the world's biggest telecoms equipment maker, on a trade blacklist. Zambia, Africa's second-biggest copper producer, is introducing a new non-refundable sales tax in place of value-added tax, despite criticism from mining companies. The United States struck deals on Friday to lift tariffs on steel and aluminum imports from Canada and Mexico, the three governments said, removing a major obstacle to legislative approval of a new North American trade pact.

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Thursday, 16 May 2019

mcx update


BULLION - Bullion counter may trade on volatile path .Gold fell on Friday, following its biggest one-day percentage loss in a month in the previous session, on a firmer dollar and increased investor appetite for riskier assets due to strong U.S. data and corporate results. Strong corporate earnings have also helped to give some support to equities and dollar. Most of the managed-money managers are trying to take out profits, which is pressuring gold. U.S. stock indexes extended gains on upbeat earnings as well as robust economic data that underlined the strength of the domestic economy. Meanwhile, the dollar index rose to its highest level in nearly two weeks against a basket of currencies. The U.S. housing data showed homebuilding increased more than expected in April, while unemployment benefits fell more than expected last week, pointing to sustained labour market strength that should underpin the economy. Even though trade worries have taken a backseat, investors are still wary of possible tensions emanating from a U.S. bid to block China Huawei Technologies from buying vital American technology.

ENERGY- Crude oil may trade with upside bias as oil prices edged higher on Friday, extending gains into a fourth session as rising tensions in the Middle East stoked fears of potential supply disruptions. The market is also awaiting the decision of the Organization of the Petroleum Exporting Countries (OPEC) and other producers on whether to continue with supply cuts that have boosted prices more than 30% so far this year. A meeting of OPEC ministerial monitoring committee in Saudi Arabia this weekend will assess member states commitment to a deal reducing oil production, Iraq oil minister said on Thursday. U.S. natural gas futures rose on Thursday as output declines despite a government report showing a bigger-than-usual storage build last week. The U.S. Energy Information Administration (EIA) said utilities added 106 billion cubic feet (bcf) of gas to inventories during the week ended May 10. The increase last week boosted stockpiles to 1.653 trillion cubic feet (tcf), which was still 14.7% below the five-year average of 1.939 tcf for this time of year but only the lowest for the week since 2018. The amount of gas in storage has been below the five-year average since September 2017 .

BASE METAL - Base metals may remain sideways bias. Polish mining company KGHM may produce more copper than planned at its Sierra Gorda mine in Chile in 2019, while keeping capital expenditure below target, its deputy chief executive in charge of foreign assets said. Shanghai aluminium prices moved higher for a sixth consecutive session in early trade on Friday, as alumina refinery shutdowns in northern China's Shanxi province raise production costs for the metal used in everything from cans to cars. Aluminium is on course to gain 1.7% in Shanghai this week, which would mark its best week since the one ended Aug. 24, 2018. Alumina prices in northern China have now exceeded 3,000 yuan a tonne and touched their highest since Dec. 10.




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Wednesday, 15 May 2019


mcx tips

BULLION - Bullion counter may trade on volatile path an uptick in equities offset support from doubts over trade talks between the United States and China. Asian shares steadied on Thursday on news that U.S. President Donald Trump is planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and on weak U.S. and Chinese economic data. President Trump is expected to delay a decision on imposing tariffs on imported cars and parts by up to six months, three Trump administration officials told Reuters, avoiding opening yet another front in his global trade battles. Meanwhile, U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to Beijing soon to continue negotiations with Chinese counterparts as the world two biggest economies try to salvage talks aimed at ending their months long trade war. China Gold International first quarter gold production fell 5% to 44,023 ounces from 46,264, the company reported on Wednesday.

ENERGY- Crude oil may trade with upside bias as oil prices edged up on Thursday to extend gains into a third straight session, as tensions in the Middle East stoked fears of potential disruptions to supply. Oil was drawing support from heightened tensions in the Middle East, with helicopters carrying U.S. staff from the American embassy in Baghdad on Wednesday out of apparent concern about perceived threats from Iran. Crude oil may take support near 4300 and can test 4450 .U.S. crude inventories rose unexpectedly last week to their highest since September 2017, while gasoline stockpiles decreased more than forecast, the Energy Information Administration (EIA) said. Crude stocks swelled by 5.4 million barrels, surprising analysts who had expected a decrease of 800,000 barrels. Natural gas may dip lower as it can test 180 while taking resistance near 188. U.S. natural gas futures on Wednesday fell from a four-week high in the previous session on forecasts for heating demand to decline over the next two weeks and expectations that a federal report will show a much bigger-than-usual storage build on Thursday.

BASE METAL - Copper and most other base metals fell on the London Metal Exchange on Thursday, as investors remained cautious after weaker-than-expected Chinese retail sales and industrial output data. The figures for April largely pointed to a loss of momentum, after surprisingly upbeat March readings had raised hopes the economy was slowly getting back onto a firmer footing and would require less policy support. State miner Codelco, the world's top copper producer, said on Wednesday that it has agreed on a new labour contract with the union of supervisors at its small Salvador mine in northern Chile. Alumina prices in northern China touched their highest in almost five months on Wednesday as production shutdowns in Shanxi province left the market fearing a supply shortage. Mexico is close to resolving its dispute with the United States over steel and aluminium tariffs without quotas but hopes Canada can reach a similar agreement before completing it, a senior Mexican official said on Wednesday.


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

Tuesday, 14 May 2019


ncdex tips

BULLION - Bullion counter may trade on volatile path as gold steadied on Wednesday after retreating from a one-month peak in the previous session as Washington and Beijing decided to further their discussions on trade, soothing investor concerns around a full-blown trade war. U.S. President Donald Trump on Tuesday called the trade war with China little squabble and insisted talks between the world two largest economies had not collapsed, as investors remained on guard for a further escalation of tit-for-tat tariffs. Meanwhile on Tuesday, the Chinese government also confirmed that the two countries have agreed to keep talking about their trade dispute. However, restraining further downside for gold, Asian shares still struggled near a 3-1/2-month low on Wednesday on lingering concerns over the economic impact of a U.S.-China trade war.

ENERGY- Crude oil may trade with sideways bias as oil eased on Wednesday after closely watched data showed a surprise rise in U.S. crude stockpiles, but prices were supported by mounting tensions in the Middle East. U.S. crude stockpiles unexpectedly rose last week, while gasoline and distillate inventories increased data from industry group the American Petroleum Institute showed on Tuesday. Oil prices have drawn support after Saudi Arabia on Tuesday said armed drones struck two of its oil pumping stations, two days after the sabotage of oil tankers near the United Arab Emirates, while the U.S. military said it was braced for possibly imminent threats to U.S. forces in Iraq from Iran-backed forces. Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday said that world demand for its oil would be higher than expected this year as supply growth from rivals including U.S. shale producers slows, pointing to a tighter market if the exporter group refrains from raising output. 

BASE METAL - Base metals prices may witness some short covering at lower levels as copper and most other base metals rose on Wednesday, after U.S. President Donald Trump insisted that trade talks with China had not collapsed. Trump on Tuesday called the trade war with China little squabble and softened his tone in a series of remarks expressing optimism about reaching a trade deal with Beijing, While a Beijing senior diplomat also confirmed that the two countries would pursue relevant discussions. Copper may test 430 while taking support near 420 in MCX. Barrick Gold Corp, the world second largest bullion miner, is preparing its Zambian copper mine Lumwana for sale in the second half of 2019, looking to target Chinese buyers, three sources with knowledge of the matter said. Global miner BHP will hold on to the Australian nickel operations it previously put up for sale, while Rio Tinto, is working on copper and lithium projects as the mining industry bets on demand for electric vehicle (EV) batteries.


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, 13 May 2019



BULLION - Bullion counter may trade on upside bias as gold steadied on Tuesday, having recouped the key $1,300-level in the previous session, after Beijing's announcement of a retaliatory tariff-hike to counter Washington rocked risk sentiment, embellishing appetite for safe-haven assets. China said on Monday it would impose higher tariffs on most U.S. imports on a revised $60 billion target list, hitting back at a tariff hike by Washington on $200 billion of Chinese goods. U.S. President Donald Trump said he would meet Chinese President Xi Jinping next month as the trade war between the world's two largest economies intensified, sending shivers through global markets. China raised gold holdings by 11.20 tonnes to 1,885.54 tonnes in March, the International Monetary Fund (IMF) said on Monday.

ENERGY- Crude oil may trade with sideways bias as oil prices were moving higher on Tuesday, though gains were checked amid an escalation in the trade war between the United States and China. Headlines from the Middle East grabbed attention early in the session after Saudi Arabia said two of its oil tankers were among those attacked off the coast of the United Arab Emirates, describing it as an attempt to undermine security of supply amid United States-Iran tensions. China on Monday ignored a warning from U.S. President Donald Trump and moved to impose higher tariffs on a range of U.S. goods including frozen vegetables and liquefied natural gas. The U.S. Energy Department said on Monday that it was confident global oil markets are well supplied. U.S. natural gas futures edged up to a four-week high on Monday as record liquefied natural gas (LNG) exports and higher estimated demand for next week than previously forecast offset an increase in production.

BASE METAL - Base metals prices may witness some short covering at lower levels as most industrial metals rose on bargain buying on Tuesday after prices tumbled in recent sessions due to escalated trade tensions between China and the United States. Copper inventories in warehouses approved by the London Metal Exchange fell further on Friday to its lowest since April 25 at 203,750 tonnes, latest data showed. The copper market should see a deficit of 189,000 tonnes this year, widening to 250,000 tonnes in 2020, the International Copper Study Group (ICSG) said on Monday. World refined output is likely to increase by about 2.8% and 1.2% in 2019 and 2020 respectively, while demand is expected see an increase of about 2% and 1.5%, the group said.


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, 12 May 2019


mcx tips

BULLION - Bullion counter may trade on sideways bias as gold prices steadied on Monday as trade talks between the United States and China hit a wall, raising doubts over whether the two countries would be able to reach a deal, thereby boosting demand for safe-haven assets. The United States and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any bitter fruit that harmed its interests. Washington had already hiked tariffs on $200 billion worth of Chinese exports on Friday, while U.S. President Donald Trump further ordered his trade chief to begin the process of imposing tariffs on all remaining imports from China. Gold demand jumped last week in India due to increased retail purchases for key festival and weddings on price corrections, while premiums in China eased as buying slowed at the world top consumer. Hedge funds and money managers raised their net long positions in COMEX gold for the week to May 7, the U.S. Commodity Futures Trading Commission (CFTC) said last week.

ENERGY- Crude oil may trade with sideways to lower bias as oil futures edged down on Monday, pressured by fears over global economic growth amid a standoff in Sino-U.S. trade talks. Brent crude futures were at $70.49 a barrel at 0013 GMT, down 12 cents, or 0.2 percent, from their last close. Brent ended the previous session little changed. U.S. West Texas Intermediate (WTI) crude futures were at $61.31 per barrel, down 27 cents, or 0.4 percent, from their previous settlement. WTI closed the last session steady on the day. The United States and China together accounted for 34% of global oil consumption in the first quarter of 2019, data from the International Energy Agency showed. U.S. natural gas futures edged up to a one-week high on forecasts for more heating demand next week and an increase in liquefied natural gas exports to near record levels. Despite the week's gain, traders said market volatility has remained low since the weather started to warm this spring - just like this time last year - amid a widely held belief that record and growing production will meet any increase in demand.

BASE METAL - Base metals prices may trade with negative bias. Three-month copper on the London Metal Exchange had fallen 0.3% to $6,107 a tonne by 0124 GMT, while the most-traded copper contract on the Shanghai Futures Exchange was almost unchanged at 47,750 yuan ($6,999.72) a tonne. Copper prices fell on Monday, pressured by concerns over the outlook for the global economy as Washington and Beijing appeared at a deadlock in talks to end a bitter trade war. The trade conflict between the world top two economies escalated on Friday, with the United States hiking tariffs on $200 billion worth of Chinese goods after President Donald Trump said Beijing broke the deal by reneging on earlier commitments made during months of negotiations. 


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