Commodity Research Report 09 April 2018 Ways2Capital by Ways2Capital

HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

Market Wrap-Up MCX Market Wrap-Up Contract

Previous Close

Open

High

Low

% Change in Price

% Change in Open Interest

% Change in Volume

Aluminium

30-Apr-18

130.30

131.30

133.30

128.30

133.00

2.07%

-10.21%

220.95%

Copper

30-Apr-18

436.80

439.90

443.50

428.60

438.25

0.33%

-4.94%

47.36%

Crude Oil

19-Apr-18

4234

4246

4255

4015

4029

-4.84%

-14.83%

92.21%

Gold

05-Jun-18

30552

30650

31120

30500

30694

0.46%

-12.30%

129.03%

Lead

30-Apr-18

156.75

157.20

157.75

153.10

155.55

-0.77%

13.01%

101.11%

Natural Gas

25-Apr-18

179.40

178.50

179.90

172.80

175.90

-1.95%

19.62%

1.14%

Nickel

30-Apr-18

868.90

872.20

886.50

841.60

860.90

-0.92%

-11.15%

84.34%

Silver

04-May-18

38322

38378

39054

37940

38235

-0.23%

8.57%

241.90%

Zinc

30-Apr-18

213.70

214.70

215.25

208.15

211.30

-1.12%

-4.64%

99.94%

Commodity

NCDEX Market Wrap-Up Contract

Previous Close

Open

High

Low

% Change in Price

% Change in Open Interest

% Change in Volume

Castor Seed

18-May-18

4184

4185

4245

4120

4151

-0.79%

35.11%

82.51%

Chana

18-May-18

3788

3771

3850

3765

3826

1.00%

10.43%

-14.12%

Dhaniya

18-May-18

5068

5070

5440

5055

5283

4.24%

2.79%

-3.99%

Cottonseed Oil Cake

18-May-18

1405.00

-0.60%

15.66%

-18.20%

Guargum5

18-May-18

8924

-0.39%

0.11%

-49.12%

Guarseed10

18-May-18

4146.00

-0.42%

-1.28%

-31.79%

Jeera

18-May-18

15010

15050

15755

14910

15405

2.63%

-5.11%

58.05%

Kapas

30-Apr-18

894.50

904.00

938.50

903.00

925.50

3.47%

-15.22%

50.43%

RMseed

18-May-18

4054

4106

4140

3985

3994

-1.48%

28.56%

39.39%

Ref Soya Oil

18-May-18

786.85

795.85

797.95

782.60

786.25

-0.08%

-6.34%

-10.32%

Soyabean

18-May-18

3798

3811

3955

3799

3876

2.05%

0.55%

113.38%

Turmeric

18-May-18

6694

6660

6670

6480

6524

-2.54%

7.45%

23.08%

Mentha Oil

30-Apr-18

1305.50

8.74%

-17.75%

-71.80%

Commodity

1410.00 1445.00 1388.00 1396.50 8928

9065

8801

8889

4163.00 4185.00 4075.00 4128.50

1338.00 1473.00 1338.00 1419.60

Currency Market Wrap-Up Contract

Previous Close

Open

High

Low

Change in Price (in%)

USDINR

26-Apr-18

65.3600

65.2475

65.3550

65.0250

65.0900

-0.41%

GBPINR

26-Apr-18

92.5250

91.9700

91.9900

91.1625

91.2650

-1.36%

JPYINR

26-Apr-18

61.7550

61.7000

61.7075

60.6775

60.7150

-1.68%

EURINR

26-Apr-18

81.1075

80.4100

80.7000

79.6925

79.7625

-1.66%

Currency Pair

Continued…….

09/04/2018

Market Wrap-Up International Market Wrap-up Exchange

Previous Close

Open

High

Low

% Change in Price

LME

2004.75

2014.25

2061.75

1978.25

2061.25

2.82%

Copper

COMEX

3.019

3.049

3.087

2.970

3.038

0.63%

Crude Oil

NYMEX

64.94

64.89

65.42

61.81

61.92

-4.65%

Gold

COMEX

1327.30

2316.20

1352.30

1323.20

1337.00

0.73%

Lead

LME

2396.75

2397.50

2419.75

2349.50

2385.00

-0.49%

NYMEX

2.733

2.729

2.760

2.651

2.699

-1.24%

Nickel

LME

13380.00

13462.50

13642.50

12942.50

13262.50

-0.88%

Silver

COMEX

16.22

16.34

16.67

16.15

16.36

0.86%

Zinc

LME

3277.50

3284.75

3294.25

3193.50

3252.50

-0.76%

Commodity Aluminium

Natural Gas

09/04/2018

Inventory Updates LME Inventory Closing In Tonnes (As on 6th April 2018)

Closing In Tonnes (As on 29th Mar 2018)

% Change in Price

Copper

372850

388175

-3.95%

Nickel

318432

322236

-1.18%

Lead

129150

129800

-0.50%

Zinc

207325

209550

-1.06%

Aluminium

1265350

1261625

0.30%

Commodity

Continued…….

09/04/2018

Inventory Updates

09/04/2018

Market Next Week Economic Events Calendar Time

Currency

Event

Forecast

Monday, April 9, 2018 13:00

GBP

Halifax House Price Index (MoM) (Mar)

0.20%

0.40%

13:00

GBP

Halifax House Price Index (YoY) (Mar)

2.10%

1.80%

0.60%

Tuesday, April 10, 2018 4:31

GBP

BRC Retail Sales Monitor (YoY) (Mar)

18:00

USD

Core PPI (MoM) (Mar)

0.20%

18:00

USD

PPI (MoM) (Mar)

0.10%

0.20%

21:30

USD

WASDE Report Wednesday, April 11, 2018

7:00

CNY

CPI (MoM) (Mar)

-0.50%

1.20%

7:00

CNY

CPI (YoY) (Mar)

2.60%

2.90%

7:00

CNY

PPI (YoY) (Mar)

3.20%

3.70%

14:00

GBP

Industrial Production (MoM) (Feb)

0.30%

1.30%

14:00

GBP

Manufacturing Production (MoM) (Feb)

0.20%

0.10%

14:00

GBP

Trade Balance (Feb)

-11.90B

-12.33B

18:00

USD

Core CPI (YoY) (Mar)

2.10%

1.80%

18:00

USD

Core CPI (MoM) (Mar)

0.20%

18:00

USD

CPI (MoM) (Mar)

0.10%

0.20%

20:00

USD

Crude Oil Inventories

0.246M

-4.617M

23:30

USD

Federal Budget Balance (Mar)

-186.0B

-215.0B

23:30

USD

FOMC Meeting Minutes

Thursday, April 12, 2018 16:50

USD

OPEC Monthly Report

18:00

USD

Export Price Index (MoM) (Mar)

0.20%

18:00

USD

Import Price Index (MoM) (Mar)

0.20%

0.40%

18:00

USD

Initial Jobless Claims

230K

242K

Friday, April 13, 2018 Tentative

CNY

Exports (YoY) (Mar)

10.00%

44.50%

Tentative

CNY

Imports (YoY) (Mar)

10.00%

6.30%

18:30

USD

FOMC Member Bullard Speaks

19:30

USD

JOLTs Job Openings (Feb)

5.890M

6.312M

Currency Weekly Pivots Currency Pair

Contract

USDINR

26-Apr-18

65.1000

65.0500

65.2000

65.1500

65.3000

65.4000

64.6000

GBPINR

26-Apr-18

91.7000

91.4000

91.7000

91.4500

91.7000

91.7500

88.6500

JPYINR

26-Apr-18

61.3500

61.0000

61.3500

61.0000

61.3500

59.3500

EURINR

26-Apr-18

79.9500

79.8000

80.2500

80.1000

80.5500

80.8500

79.1500 Continued…….

09/04/2018

Market Next Week MCX Weekly Pivots Commodity

Contract

Aluminium

30-Apr-18

141.55

136.55

134.80

131.55

129.80

126.55

121.55

Copper

30-Apr-18

466.6

451.7

445

436.8

430.1

421.90

407.00

Crude Oil

19-Apr-18

4580

4340

4184

4100

3944

3860

3620

Gold

5-Jun-18

32011

31391

31043

30771

30423

30151

29531

Lead

30-Apr-18

164.75

160.1

157.8

155.45

153.15

150.80

146.15

Natural Gas

25-Apr-18

190.4

183.3

179.6

176.2

172.5

169.10

162.00

Nickel

30-Apr-18

953

908

884

863

840

818

773

Silver

4-May-18

40638

39524

38879

38410

37765

37296

36182

Zinc

30-Apr-18

225.75

218.65

214.95

211.55

207.85

204.45

197.35

NCDEX Weekly Pivots Commodity

Contract

Castor Seed

18-May-18

4422

4297

4224

4172

4099

4047

3922

Chana

18-May-18

3984

3899

3862

3814

3777

3729

3644

Dhaniya

18-May-18

6029

5644

5464

5259

5079

4874

4489

Cottonseed Oil Cake

18-May-18

1524

1467

1432

1410

1375

1353

1296

Guargum5

18-May-18

9446

9182

9036

8918

8772

8654

8390

Guarseed10

18-May-18

4350

4240

4184

4130

4074

4020

3910

Jeera

18-May-18

17047

16202

15803

15357

14958

14512

13667

Kapas

30-Apr-18

993

958

942

922

906

887

851

RMseed

18-May-18

4350

4195

4094

4040

3939

3885

3730

Ref Soya Oil

18-May-18

820

804

795

789

780

774

758

Soyabean

18-May-18

4189

4033

3954

3877

3798

3721

3565

Turmeric

18-May-18

6938

6748

6636

6558

6446

6368

6178

Mentha Oil

30-Apr-18

1680

1545

1482

1410

1347

1275

1140

09/04/2018

MCX Fundamentals BULLION

Gold futures rose nearly one percent in American trade away from March 29 lows as the dollar index fell off early March highs following earlier data from the US the world's largest economy and ahead of a speech by Fed Chair Jerome Powell later today. USChina trade tensions grew yet more after President Donald Trump directed his trade officials to look into imposing tariffs on $100 billion of additional Chinese imports.

BASE METALS Base metals prices on the London Metal Exchange are for the most part weaker this morning Friday April 6, following further announcements from the White House of increased tariffs against China.The main movers are nickel (-1.2%), copper (-0.9%) at $6,755 per tonne lead (-0.7%) and zinc (-0.5%) while tin and aluminium are little changed.Volume remains light with 2,931 lots traded as of 07.31 am London time this as China remains on holiday to mark the Qing Ming Festival or tombsweeping day.

ENERGY Oil futures fell nearly two percent in American trade even as the dollar index fell as well off early March highs following earlier data from the US the world's largest energy consumer while Federal Reserve governor Jerome Powell is scheduled to speak about the economic outlook at the Economic Club of Chicago later today. Natural gas futures fell nearly two percent in American trade as the dollar index gained ground following earlier data from the US, the world's largest energy consumer including the EIA report that showed another inventory draw down for the sixteenth week in a row.

09/04/2018

NCDEX Fundamentals SPICES Jeer rates found strong support at the lower levels as demand started rising in the mandis amidst falling arrivals. There could be moderate recovery in prices by end of the week. Sideways trend persisted for Turmeric as prices are looking to find some support at these lower levels. Low trading activities in mandis kept pressure on prices last week. Prices faced strong resistance near the 7000 mark. However falling arrivals amidst rise in demand at these lower levels are likely to support

OIL & OILSEEDS Prices continued shooting up for Mentha oil as fundamentals remained strong. MCX imposed 5% additional margin on the Buy and sell side w.e.f. April 5, 2018. Rising demand at the lower levels supported prices after the recent strong fall in prices. However traders do not expect further fall from these levels with demand set to pick up at these lower rates and a firm trend can be expected.

GUAR COMPLEX

Trend remained slight weak for Guar but prices did seem to find immediate support at these lower levels. Normal monsoon predictions by Skymet good for Guar sowing prospects from June onwards. Also with IMDs recent bulletin on possibilities of good Monsoon this year any recovery looks limited for now.

OTHERS With China imposing 25% duty on cotton from US, this had a bearish impact on cotton prices as markets fell drastically. However markets are likely to find very strong support at these lower levels and are likely to bounce back strongly as International markets recover strongly amidst reports of a fall in Indian production from earlier estimates. The futures contracts ended on easy note tracking bearish fundamentals. Spot demand remains subdued currently against improving arrival prospects and ample supplies of the old season crop lying with the stockists. 9

09/04/2018

Calls of the Week (MCX) COPPER From last couple of trading week market is trading in range of 440 to 430 and on its short term chart Copper is forming inverted H&S Formation indication positive trend for short term to midterm basis. It made a high of 443.50 during the week and closed at 438.25 with the overall gain of 0.33% on weekly basis. Technically for this week, we can expect positive movement in it as it is forming higher highs and higher lows formation. For this week, if it breaks the level of 442 then it can test the level of 452 during the week. One can make buy position in it by maintaining a SL 437

WEEKLY STRATEGY PERTICULAR

DETAILS

Action

BUY

Entry Range

Above 442

Target

452.00

437.00

LEAD Last week Lead Apr Futures started the week on negative and then on Friday found strong support zone near the level of 153 and bounced back to the level of 155. It made a low of 153.10 during the week and closed at 155.55 with the overall of loss of 0.77% on weekly basis. Technically for this week, we can expect positive movement in its forming positive divergence on the in RSI and sustaining above the support trend line. For this week, if it breaks the level of 156 then it can test the level of 158 during the week. One can make Buy position in it by maintaining a SL 155.

WEEKLY STRATEGY PERTICULAR

Action Entry Range

DETAILS

BUY Above 156

Target

158.00

155.00

09/04/2018

Calls of the Week (NCDEX) CASTORSEED Last week Castor Seed May Futures started the week on positive note but found enough resistance at the level of 4200 and continued the negative trend for the entire week. It made a low of 4120 during the week and closed at 4151 with the overall of loss of 0.79% on weekly basis. Technically for this week, we can expect downside movement in its forming negative divergence on the in RSI and sustaining below the support level breakout. For this week, if it breaks the level of 4100 then it can test the level of 3970 during the week. One can make sell position in it by maintaining a SL 4179.

WEEKLY STRATEGY PERTICULAR

Action Entry Range

DETAILS

Sell Below 4100

Target

3970

4179

CHANA From last couple of trading weeks market is trading with positive note as the level of 3600 acted as a strong support zone and we can see market is getting bounce back from lower level. It made a high of 3850 during the week and closed at 3826 with the overall of gain of 01% on weekly basis. Technically for this week, we can expect positive movement in its forming bottom formation and sustaining above support level of 3700. For this week, if it breaks the level of 3850 then it can test the level of 3980 during the week. One can make buy position in it by maintaining a SL 3785.

WEEKLY STRATEGY PERTICULAR

Action Entry Range

DETAILS

Buy Above 3850

Target

3980

3785

09/04/2018

Calls of the Week (FOREX) JPYINR Last week JPYINR Apr Futures started the week on negative note and continued the same for the entire week. It made a low of 60.6775 during the week and closed at 60.7150 with the overall loss of 1.68% on weekly basis. Technically for this week, we can expect downside movement in it as it sustaining near to major support level of 60.6200 with the negative RSI. For this week, if it breaks the level of 60.6200 then it can test the level of 60.1025 during the week. One can make sell position in it by maintaining a SL 60.9125

WEEKLY STRATEGY PERTICULAR

Action Entry Range

DETAILS

Sell Below 60.6200

Target

60.1025

60.9125

EURINR Last week EURINR Apr Futures started the week on negative note and continued the same for the entire week. It made a low of 79.6225 on the last day of the week and closed at 79.7625 with the overall of loss of 1.66% on weekly basis. Technically for this week, we can expect downside movement in its forming negative divergence on the in RSI and sustaining below the support level breakout. For this week, if it breaks the level of 79.8000 then it can test the level of 79.3125 during the week. One can make sell position in it by maintaining a SL 80.0200.

WEEKLY STRATEGY PERTICULAR

Action

Entry Range

DETAILS

Sell

Below 79.8000

Target

79.3125

80.0200

09/04/2018

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Any investment in Equity/commodity market bears risk, company will not be liable for any loss done on these recommendations. These levels do not necessarily indicate future price moment. Company holds the right to alter the information without any further notice. Any browsing through website means acceptance of disclaimer. इक्ववटी / कभोडडटी फाजाय भें कोई बी ननवेश जोखखभ के अधीन होता है , कंऩनी इन सुझावों ऩय ककए गए ककसी बी नुकसान के लरए उत्तयदामी नहीं होगी | मह स्तय बववष्म के कीभतों की गनत का संकेत नहीं दे ते है | वेफसाइट के भाध्मभ से ककसी बी ब्राउक्ज़ंग का अथा है अस्वीकयण की स्वीकृनत।

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हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी कंऩननमां अनुसंधान रयऩोटा भें शालभर कंऩननमों के साथ कायोफाय नहीं कयती हैं औय न ही ककसी बी तयह के उत्ऩादों / प्रनतबूनतमों के जायीकताा के साथ जुडी हैं, जो मह सुननक्श्चत कयता है कक टहतों के लरए कोई वास्तववक मा संबाववत संघषा नहीं है | ननमाभक ननकाम के अनुऩारन को सुननक्श्चत कयने के लरए हभने मह तम ककमा है कक कंऩनी औय उसके कोई बी प्रनतननधध फाज़ाय भें ट्रे ड नहीं कयें गे।

Clients are advised to consider information provided in the report as opinion only & make investment decision of their own. Clients are also advised to read & understand terms & conditions of services published on website. No litigations have been filed against the company since the incorporation of the company by regulatory body.

ग्राहकों को मह सराह दी जाती है कक वे रयऩोटा भें दी गई जानकायी को केवर याम के रूऩ भें दे खें औय ननवेश के लरए स्वमं पैसरा कयें | ग्राहकों को वेफसाइट ऩय प्रकालशत सेवाओं के ननमभों औय शतों को ऩढ़ने औय सभझने की बी सराह दी जाती है | कंऩनी के ननगभन के फाद ननमाभक ननकाम द्वायाकंऩनी के खखराप कोई भुकदभा (माधचका) दामय नहीं ककमा गमा है ।

DISCLOSURE APPENDIX (प्रकटीकयण ऩरयलशष्ट ) : The reports are prepared by analysts who are employed by High Brow Market Research Investment Advisor Pvt. Ltd. All the views expressed in this report herein accurately reflects personal views about the subject company or companies & their securities and no part of compensation was, is or will be directly or indirectly related to the specific recommendations or views contained in this research report. रयऩोटा ववश्रेषकों द्वाया तैमाय की गमी है जो द्वाया हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड द्वाया ननमुवत हैं | इस रयऩोटा भें व्मवत सबी ववचाय कंऩनी के फाये भें व्मक्वतगत ववचायों को दशााता है औय कंऩननमों औय उनकी प्रनतबनू तमां औय ऺनतऩनू ता (भआ ु वजे) का कोई टहस्सा, मा इस शोध रयऩोटा भें ननटहत ववशेष सझ ु ावों मा ववचायों से प्रत्मऺ मा अप्रत्मऺ रूऩ से संफंधधत नहीं होगा।

DISCLOSURE IN TERMS OF CONFLICT OF INTEREST (टहतों के संघषा के भाभरे भें प्रकटीकयण ): (a) (अ)

High Brow Market Research Pvt. Ltd. or his associate or his relative has no financial interest in the subject company and the nature of such financial interest; हाई ब्रो भाकेट अनस ु ंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी मा उनके ककसी बी तत्कार

रयश्तेदाय की ववषम कंऩनी भें कोई ववत्तीम रुधच नहीं है औय न ही इस तयह की ववत्तीम टहत की

प्रकृनत है |

(a)

(फ)

High Brow Market Research Pvt. Ltd. or its associates or relatives, have no actual/beneficial ownership of one percent or more in the securities of the subject company,

हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कंऩनी की प्रनतबूनतमों भें एक प्रनतशत मा उससे अधधक के वास्तववक / पामदे भंद

स्वालभत्व नहीं हैं |

(a)

(स)

High Brow Market Research Pvt. Ltd. or its associate has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;

हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोधगमों को अनुसंधान रयऩोटा के प्रकाशन के सभम मा सावाजननक रूऩ से उऩक्स्थत होने के सभम कोई अन्म बौनतक संघषा नहीं है |

DISCLOSURE IN TERMS OF COMPENSATION ( ऺनतऩूनता के संदबा भें प्रकटीकयण): High Brow Market Research Investment Advisor Pvt. Ltd. policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst's area of coverage. Analyst compensation: Analysts are salary based permanent employees of High Brow Market Research Pvt. Ltd. हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड की ऩॉलरसी अऩने ववश्रेषकों, ऩेशव े यों को ववश्रेषक के ऺेत्र भें ककसी बी कंऩनी की प्रनतबूनतमों के स्वाभी से ववश्रेषकों को रयऩोटा कयने से योकती है । ववश्रेषक ऺनतऩनू ता : ववश्रेषक हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड के वेतन आधारयत स्थामी कभाचायी है |

DISCLOSURE IN TERMS OF PUBLIC APPEARANCE (सावाजननक प्रकटन के भाभरे भें प्रकटीकयण ) : (a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from the subject company in the past twelve months; (अ)

हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने

(b)

The subject company is not now or never a client during twelve months preceding the date of distribution of the research report.

(ब)

अनुसंधान रयऩोटा के ववतयण की नतधथ से ऩूवा फायह भहीनों के दौयान ववषम कंऩनी अफ मा कबी बी ग्राहक नहीं यही है ।

(c )

High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or employee of the subject company;

(स) हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने

वऩिरे 12 भहीनों भें ववषम कंऩनी से कोई भुआवजा प्राप्त नहीं ककमा है |

ववषम कंऩनी के अधधकायी, ननदे शक मा कभाचायी के रूऩ भें कबी बी काभ

09/04/2018