GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY MARKET NEWS & LEVELS – 14 JANUARY 2020

Mcx2-1

Silver COT Longs Fall For First Time In Four Weeks.

Large precious metals speculators decreased their bullish net positions in the Silver futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC on Friday. The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 67253 contracts in the data reported through January 7th. This was a weekly fall of 2475 net contracts from the previous week. Silver speculative longs had hit near 26 month high before this pullback. The long position saw its first drop in four weeks. Meanwhile, the commercial trader’s position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -91174 contracts on the week. This was a weekly change of 5478 contracts.

Crude Slides Around 2% On MCX.

MCX Crude oil futures tanked yesterday as global prices stayed lower amid sustained corrective pressure. However, the soaring equities capped the downside and the commodity edged up from five week low. WTI Crude currently trades at $58.19 per barrel, up 0.19% on the day. MCX Crude oil fell around 2% yesterday to end at Rs 4122 per barrel after testing a low of Rs 4103 per barrel. Oil traders eyed a relative calm on the Iran front. Meanwhile, Automobile sales in China continued to drop in December. The total vehicle sales plummeted around 8.2% for the whole year 2019, figures from the industry body the China Association of Automobile Manufacturers, or CAAM, showed on Monday. In 2019, China’s vehicle production also dropped 7.5% from a year ago. Despite the drop, the production and sales figures at 25.712 million units and 25.769 million units, respectively, remained the highest in the world. Passenger car sales, which account for over 83% of total vehicle sales, fell 9.6% from a year ago. Automobile sales fell by a marginal 0.1% in December.

COMEX Copper Hits Eight Month Top.

COMEX Copper edged up to around eight month high of $2.86 per pound yesterday as the global equities surged. Sentiments remained supportive for global stocks amid continued optimism about impact of the phase one U.S.-China trade deal due to be signed later this week. The Nasdaq and the S&P 500 ended the session at new record closing highs. COMEX Copper currently trades at $2.88 per pound, down marginally on the day. MCX Copper closed at Rs 450.95, up 0.79% on the day. Traders are eyeing the firm movement in Indian Rupee. INR gained further as local stocks soared yesterday. INR closed at 70.86 per US dollar, adding 7 paise on the day. after hitting a near one month high of 70.75 per US dollar. Local traders eyed a positive industrial production reading along with soaring local equities.

Precious Metals

CS GOLD (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 39900
RESIST 1: 39720
SUP 1:39450
SUP 2: 39350

CS SILVER (MAR) OVERVIEW:
TREND :BEARISH
RESIST 2:46980
RESIST1:46710
SUP 1: 46280
SUP 2: 46110

Base Metals

CS COPPER (JAN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:456
RESIST 1:452
SUP 1:448
SUP 2:445

CS NICKEL (JAN) OVERVIEW:
TREND : BEARISH
RESIST 2: 1059
RESIST 1:1044
SUP 1:1014
SUP 2:999

CS ZINCMINI (JAN) OVERVIEW:
TREND : BULLISH
RESIST 2: 184
RESIST 1:183
SUP 1:181
SUP 2: 180

CS LEADMINI (JAN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:152
RESIST 1: 151
SUP 1: 149
SUP 2:148

CS ALUMINI (JAN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:142
RESIST 1: 141
SUP 1: 139
SUP 2: 138

Energy

CS CRUDE OIL (JAN) OVERVIEW:
TREND : BEARISH
RESIST 2:4250
RESIST 1:4190
SUP 1: 4090
SUP 2: 4050

CS NATURAL GAS (JAN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 155
RESIST 1:154
SUP 1: 152
SUP 2: 151


MCX LEADMINI JAN on MONDAY as seen in the Daily chart opened at 151.30 levels and made day low of 150.55 levels. During this period LEADMINI JAN high is 151.30 levels and finally closed at 150.90 levels. Now, there are chances of up movement technically & fundamentally.

Screenshot (659)

DAILY RECOMMENDATION: SELL LEADMINI JAN BELOW 151 LEVELS FOR TARGET OF 150/149 WITH SL 153 OF LEVELS.

Disclaimer The information and views in this report & all the service we provide are believed to be reliable, but we do not accept any responsibility for errors of fact or opinion. Investors have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. My research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Capital Stars shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of regulators. The price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Investment & Trading in Securities Markets are always subjected to market risk. Capitalstars Financial Research Private Ltd., Reserves all Rights.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

ASK AN EXPERT


CapitalStars FORUM