GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 15 May 2019

Mcx2-1

Precious Metals Preview: Firm Equities Cap Upside In Gold.
COMEX Gold futures eased yesterday after a massive jump in last session. Sentiments were mixed in global markets but equities tried to recoup some of the hefty losses witnessed at the start of week on overwhelming global trade concerns. European stocks rebound from two month low. Gold had jumped nearly 20 dollars on Monday to test a one month high around $1304 per ounce but stayed in a narrow range today. The commodity currently trades at $1296 per ounce, down marginally on the day. MCX Gold futures closed at Rs 31254 per 10 grams, down 0.75% on the day after testing a low near Rs 32300 level. The counter jumped nearly Rs 600 per 10 grams in prior session. Major stock markets are trading in a firm manner today and should cap the upside in the yellow metal.

Base Metals Preview: Nickel Likely To Extend Gains From For Month Low.
MCX Nickel futures extended an upmove from four month lows and closed with a gain of 1% at Rs 841 per kg. Further gains are possible given steady to firm tone in Asian equities. Global Nickel stocks are at lowest levels in 7 years, Horizonte Minerals noted in its 2019 AGM presentation. Nickel stocks have reduced drastically, having fallen from 470,000 tonnes to 170,000 tonnes and nickel inventories on the LME continue to drop. Significant new supply is required for the stainless-steel market which is growing at around 5% year on year. The world requires the equivalent of 22 new stage 1 Araguaia projects to meet new stainless demand of over 300,000 new tonnes of nickel by 2025, the company noted.

PRECIOUS METALS
CS GOLD (JUN) OVERVIEW:
TREND : BULLISH
RESIST 2: 32500
RESIST 1: 32400
SUP 1: 32100
SUP 2: 32000

CS SILVER (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 37900
RESIST 1: 37700
SUP 1: 37400
SUP 2: 37200

BASE METALS
CS COPPER (JUN) OVERVIEW:
TREND : BEARISH
RESIST 2: 430.00
RESIST 1: 428.00
SUP 1: 424.00
SUP 2: 422.00

CS NICKEL (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 852.00
RESIST 1: 846.00
SUP 1: 831.00
SUP 2: 822.00

CS ZINC (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 216.00
RESIST 1: 214.00
SUP 1: 212.00
SUP 2: 211.00

CS LEAD (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 129.00
RESIST 1: 128.00
SUP 1: 125.00
SUP 2: 124.00

CS ALUMINIUM (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 152.00
RESIST 1: 151.00
SUP 1: 148.00
SUP 2: 147.00

ENERGY
CS CRUDE OIL (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 4440
RESIST 1:4400
SUP 1: 4300
SUP 2: 4240

CS NATURAL GAS (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 190.00
RESIST 1: 189.00
SUP 1: 186.00
SUP 2: 185.00

CapitalStars Provides  Free Trial To Our Client…

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

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM