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MCX Daily Report 13TH AUGUST 2019

News Highlights
BULLION - Bullion counter may remain on firm path as gold prices gained on Tuesday, hovering near a
more than six-year high hit the previous day, as concerns around protests in Hong Kong, a slump in
Argentina's markets and the ongoing Sino-U.S. trade war dented risk appetite. Protesters managed to
shut down Hong Kong's airport, the world's busiest cargo airport, on Monday. Fears of a possible
return to interventionist policies, gripped the Argentine market after market-friendly President
Mauricio Macri lost by a much wider-than-expected margin in presidential primaries.. Investors are
focused on the Federal Reserve's annual symposium next week. Traders see a 74% chance of a 25
basis-point rate cut by the Fed this September.

ENERGY- Crude oil may trade with negative path as oil prices slipped on Tuesday, offsetting narrow
gains in the previous session, as sluggish demand forecasts countered expectations that major
producers would prop up oil prices by limiting crude oil output. U.S. oil output from seven major shale
formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million
bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on
Monday. Saudi Arabia, the de-facto leader of the Organization of the Petroleum Exporting Countries
(OPEC), said late last week it plans to keep its crude oil exports below 7 million barrels per day in
August and September to help drain global oil inventories. Saudi Aramco was ready for its IPO, but
the timing for the deal will be decided by its sole shareholder, the Saudi government, a senior
executive said on Monday. U.S. natural gas futures eased on Monday as the market focused more on
an increase in production to record levels as opposed to forecasts for more demand over the next
two weeks than previously expected.

BASE METAL - Base metals may trade on sideways to weaker path. China's banks extended
surprisingly fewer new yuan loans in July, while growth of money supply and total social financing
also slowed, raising pressure on the central bank to ease policy further to support the slowing
economy. Lead prices touched a two-week high on Monday after Belgium-listed Nyrstar said it had
stopped production at its Port Pirie smelter in Australia, raising fears of shortages of the metal mainly
used in car batteries. The stoppage is the second this year at the lead smelter and follows an outage
in June and July, when 30,000 tonnes of metal were lost in the 12 million tonne market. Shanghai
aluminum rose to its highest in more than two months on Tuesday, as a typhoon in China affected the
world's top aluminum producer, raising concerns about supply disruptions. Facilities belonging to
China Hongqiao Group 1378.HK were damaged by flooding after Typhoon Lekima wreaked havoc in
the smelting heartland of Shandong, according to a statement from an affiliate firm. Indonesia aims
to speed up enforcement of a ban on mineral ore exports that is currently due to come into force in
2020, news website Detik.com quoted coordinating minister for maritime affairs Luhut Pandjaitan as
saying on Monday.
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MCX Daily Report 13TH AUGUST 2019

Precious Metals
CS GOLD (OCT) OVERVIEW: CS SILVER (SEP) OVERVIEW:
TREND : BULLISH TREND : BULLISH
RESIST 2: 38900 RESIST 2: 44800
RESIST 1: 38600 RESIST 1: 44400
SUP 1: 38100 SUP 1: 43700
SUP 2: 37800 SUP 2: 43400
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Base Metals
CS COPPER (AUG) OVERVIEW: CS NICKEL (AUG) OVERVIEW:
TREND : SIDEWAYS TREND : BULLISH
RESIST 2: 452.00 RESIST 2: 1140.00
RESIST 1: 448.00 RESIST 1: 1130.00
SUP 1: 440.00 SUP 1: 1110.00
SUP 2: 436.00 SUP 2: 1100.00
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CS ZINC (AUG) OVERVIEW: CS LEAD (AUG) OVERVIEW:

TREND : BEARISH TREND : SIDEWAYS
RESIST 2: 187.00 RESIST 2: 156.00
RESIST 1: 186.00 RESIST 1: 155.00
SUP 1: 184.00 SUP 1: 153.00
SUP 2: 183.00 SUP 2: 151.00
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CS ALUMINIUM (AUG) OVERVIEW:

TREND : SIDEWAYS
RESIST 2: 142.00
RESIST 1: 141.00
SUP 1: 139.00
SUP 2: 138.00
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Energy
CS CRUDE OIL (AUG) OVERVIEW: CS NATURAL GAS (AUG) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 3980 RESIST 2: 153.00
RESIST 1:3940 RESIST 1: 152.00
SUP 1: 3860 SUP 1: 150.00
SUP 2: 3810 SUP 2: 148.00
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MCX Daily Report 13TH AUGUST 2019

Pick for the DAY

MCX NICKEL AUG on MONDAY as seen in the Daily chart opened at 1108.10 levels and made
day low of 1106.10 levels. During this period NICKEL AUG High is 1128.30 levels and finally
closed at 1121.70 levels. Now, there are chances of up movement technically &
fundamentally.

DAILY RECOMMENDATION: BUY MCX NICKEL AUG ABOVE 1125 LEVELS FOR TARGET
OF 1140/1155 WITH SL 1110 OF LEVELS.
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MCX Daily Report 13TH AUGUST 2019

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