Commodity Research Report 7 September 2015 Ways2Capital

✍ MCX DAILY LEVELS DAILY

EXPIRY DATE R4

R3

R2

R1

PP

S1

S2

S3

S4

112

110

109

108

107

106

105

104

102

30 NOV 2015 372

364

356

351

348

343

340

332

324

CRUDE OIL

21 SEP 2015 3367 3280

3193

3151

3106

3064

3019

2932

2845

GOLD

05 OCT 2015 2738 27101 2

26820

26676

26539

26395

26258

25977

25696

LEAD

30 SEP 2015

119

117

114

112

111

110

109

106

104

NATURAL GAS

25 SEP 2015

188

185

182

180

179

177

175

172

169

NICKEL

30 SEP 2015

695

683

671

666

659

654

647

635

623

SILVER

04 DEC 2015 3730 36694 7

36081

35734

35468

35121

34855

34242

33629

121

120

119

118

117

115

113

ALUMINIUM COPPER

ZINC

30 SEP 2015

30 SEP 2015

123 125

✍ MCX WEEKLY LEVELS WEEKLY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

30 SEP 2015

117

114

110

108

107

105

103

100

96

COPPER

30 NOV 2015

397

381

365

356

349

340

333

317

301

21 SEP 2015

4223

3843

3463

3286

3083

2906

2703

2323

1943

GOLD

05 OCT 2015 28698 28007

27316

26924

26625

26233

25934

25243

24552

LEAD

30 SEP 2015

127

122

118

114

113

110

108

103

98

NATURAL GAS

25 SEP 2015

197

191

184

181

178

175

172

165

159

NICKEL

30 SEP 2015

734

710

686

674

662

650

638

614

590

SILVER

04 DEC 2015 38362 37365

36368

35878

35371

34881

34374

33377

32380

123

121

119

117

115

111

107

CRUDE OIL

ZINC

30 SEP 2015

131

127

✍ NCDEX DAILY LEVELS DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

SYOREFIDR

20 OCT 2015

657

630

603

586

576

559

549

522

495

SYBEANIDR

20 OCT 2015

3414

3358

3302

3280

3246

3224

3190

3134

3078

RMSEED

20 OCT 2015

4467

4418

4369

4350

4320

4301

4271

4222

4173

JEERAUNJHA

20 OCT 2015

17920 17450

16980

16790

16510 16320 16040 15570

15100

CHANA

20 OCT 2015

5554

5372

5190

5123

5008

4941

4826

4644

4462

CASTORSEED

20 OCT 2015

4590

4506

4422

4391

4338

4307

4254

4170

4086

✍ NCDEX WEEKLY LEVELS WEEKLY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

SYOREFIDR

20 OCT 2015

610

597

584

577

571

564

558

545

532

SYBEANIDR

20 OCT 2015

3681

3528

3375

3317

3222

3164

3069

2916

2763

RMSEED

20 OCT 2015

4625

4516

4407

4357

4298

4248

4189

4080

3971

JEERAUNJHA

20 OCT 2015

18366 17751

17136

16868

16521 16253 15906 15291

14676

CHANA

20 OCT 2015

5722

5477

5232

5144

4987

4899

4742

4497

4252

CASTORSEED

20 OCT 2015

4995

4759

4523

4442

4287

4206

4051

3815

3579

MCX - WEEKLY NEWS LETTERS INTERNATIONAL NEWS

� GOLD Snapping three-day rising streak, gold prices retreated by Rs 60 to Rs 27,000 at the bullion market on wednesday on weak global cues and easing demand from jewellers at prevailing levels.Silver too turned weak and fell by Rs 150 to Rs 35,000 per kg on reduced off take by industrial units and coin makers.

Traders said besides fall in demand from jewelers and retailers at existing levels, a weak global trend as Asian stocks extended a global rout on concern over China's slowdown and its impact on the world economy, mainly led to decline in gold prices.Globally, gold declined 0.2 per cent to $1,138.35 an ounce and silver by 0.5 per cent to $14.54 an ounce in Singapore.

In the national capital, gold of 99.9 and 99.5 per cent purity fell by Rs 60 each to Rs 27,000 and Rs 26,850 per 10 grams, respectively. The precious metal had gained Rs 410 in last three days.Sovereign, followed suit and shed Rs 100 at Rs 22,400 per piece of eight gram.

Tracking gold, silver ready declined by Rs 150 to Rs 35,000 per kg and weekly-based delivery

by Rs 80 to Rs 34,465 per kg.On the other hand, silver coins continued to be traded at last level of Rs 51,000 for buying and Rs 52,000 for selling of 100 pieces.

Gold imports in the first eight months of the calendar year are estimated to be 40 per cent higher at 587 tonnes.Imports in August remained elevated, even as the yellow metal prices rebounded from multi-year lows. By December 2015, the total imports will touch 1000 tonnes.

Import bill for the first eight months is estimated at $23 billion, up 42 per cent year-on-year.Imports in August are estimated at 85-100 tonnes compared to 67 tonnes in August 2014, a rise of around 50 per cent. In this July, 97 tonnes of gold were imported. If the final figure for August comes near to 100 tonnes as estimated, it will be perhaps highest August import. In August 2011, gold imports had touched 91.8 tonnes.

Trade sources said lower prices since the last week of July generated sudden demand for gold.

Gold was trading below $1,100 per ounce since the last week of July. In Mumbai also, gold prices fell to around Rs 25,000 per 10g in the same period.Traders also placed higher orders a few days before the announcement of fortnightly revision of tariff value for gold.

Tariff value is that price on which import duty is to be paid and this value is revised every fortnight in middle and end of the month as part of routine exercise.

From mid August, tariff value has increased from $354 per 10g to $363 per 10g. Tariff value

for certain commodities such as edible oil, precious metals, areca nuts, brass scrap and poppy seeds is revised every fortnight. Since tariff value is revised on average price of the commodity and in the first half of August, prices suddenly rebounded. Traders calculated tariff value and found an arbitrage if imported gold arrives a day before the new value comes into effect, there was marginal duty benefit.

From September, the tariff for gold has been further revised upwards to $369, considering weak rupee and rise in gold prices. While the increase in tariff value was not much, the difference was used to increase margins in a rising gold market.Rise in August gold imports would also mean that total imports in the first five months of the current financial year has risen 19 per cent to 370 tonnes. This may not be a cause of concern yet as prices are lower compared to the last year and lower crude prices are keeping the current account deficit in check. But as gold imports are usually higher in the last quarter, total imports this fiscal may cross 1,000 tonne.

� NICKEL Nickel prices were up 0.72 per cent to Rs 655.50 per kg in futures trade on Wednesday as speculators widened positions, amid pickup in demand from alloy-makers at domestic spot markets.However, slide in base metals at the London Metal Exchange (LME) after weak US manufacturing data added to signs that global growth may be slowing, limited gains.

At the Multi Commodity Exchange, nickel for delivery in September moved up Rs 4.70, or 0.72 per cent to Rs 655.50 per kg in a business turnover of 987 lots.Similarly, the metal for delivery in October contracts edged up Rs 4.65, or 0.71 per cent to Rs 662.55 per kg in 37 lots.

Rise in nickel prices in futures trade to widening of positions by traders, driven by a firming trend at the spot markets on pickup in demand from consuming industries, especially alloy-makers.

� ZINC Zinc moved down 0.37% to Rs 120.10 per kg in futures market on Wednesday as speculators reduced their positions, in tandem with a weak global trend.At Multi Commodity Exchange, zinc for delivery in current month dropped 45 paise, or 0.37%, to Rs 120.10 per kg in a business turnover of 326 lots.

Metal for delivery in October traded lower by a similar margin at Rs 120.75 per kg in a business turnover of one lot.Weakness in copper and other base metals at the London Metal Exchange (LME) after weak US manufacturing data added to signs that global growth may be slowing, hurting demand, mainly influenced zinc prices in futures trade.

� ALUMINIUM Aluminium prices were down 1.45% to Rs 105.60 per kg in futures trading on Tuesday after speculators trimmed positions amid a weak trend overseas and sluggish demand from

consuming industries in the spot market.At the Multi Commodity Exchange, aluminum for delivery in September shed Rs 1.55, or 1.45% to Rs 105.60 per kg in business turnover of 597 lots.

On similar lines, metal for delivery in October was down by Rs 1.15, or 1.07%, to Rs 106.75 per kg with a volume of 55 lots.Off-loading of positions by speculators, tracking a weak trend at the London Metal Exchange (LME) after the official purchasing managers index for manufacturing in China showed its worst reading since August 2012, cementing a broader picture of falling demand in China, weighed on aluminum prices at futures trade.

� CRUDE OIL Oil prices rose on Thursday as an equity market rally offset a surprise increase in US oil inventory levels and a firm dollar.Range bound crude got a boost after the European Central Bank pledged to keep monetary policy loose and said it was ready to take further policy action if needed.

A respite from bearish economic news in China, where markets are closed for public holidays for the rest of the week, have helped oil prices stabilize after weeks of huge swings.Brent was up $1.50 at $52 a barrel by 1421 GMT, after rising 94 cents in the previous session.

US crude rose $1.70 to $47.95 a barrel, up from the day's low of $45.65 and after settling 84 cents higher on Wednesday.This seems to be driven largely by hopes of further intervention by central banks,Short term, this is bullish for crude, but that optimism could fade quickly as investors are reminded of the fundamentals.Over the past two weeks, US crude has see-sawed, climbing 27.5 per cent over three trading sessions to Monday's close - its biggest such gain since August 1990 - after plunging to a 6-1/2-year low of $37.75 a barrel early last week.

Brent has been similarly erratic, gaining 28 percent over the last week in August before dipping back to as low as $47.74 a barrel on Wednesday.

Data from the US Energy Information Administration on Wednesday showed that US crude stocks increased by 4.7 million barrels in the week to August 28, to 455.4 million, the biggest one-week rise since April.US payroll data on Friday could also impact the markets, as traders are on the lookout for any economic signals that could influence equities and demand for oil.

✍ NCDEX - WEEKLY NEWS LETTERS ✍ CHANA Chana fell 0.53% to Rs 4,855 per quintal in futures trade on wednesday as participants reduced exposure, triggered by ample supplies from producing belts at the spot market against easing demand.At the National Commodity and Derivative Exchange, chana for delivery in October dropped by Rs 26, or 0.53% to Rs 4,855 per quintal with an open interest of 1,57,380 lots.

Likewise, the commodity for delivery in September shed Rs 7, or 0.15% at Rs 4,801 per quintal in 16,130 lots.Offloading of positions by speculators amid higher supplies from producing region against fall in demand at spot market, mainly pulled down chana prices in futures trade.

✍ SOYABEAN Export of soybean meal during August, 2015 was just 769 tons as compared to 2,778 tons in August, 2014 showing a decrease of 72.33 per cent over the same period of last year. On a financial year basis, the export during April 2015 to August 2015 is 35,858 tons as compared to 96,201 tons in the same period of previous year showing a decrease of 62.73 per cent.

During current Oil year, (October 2014 - September 2015), total exports during October 2014 to August, 2015 is 5,85,485 tons as against 20,60,782 tons last year, showing a decrease by 71.59 per cent. ✍ CASTORSEED Castor seed futures traded higher on NCDEX due to rising demand from consuming industries at the spot markets. Further, tight supplies from the major producing belts also supported castor seed prices’ uptrend.

The contract for September delivery was trading at Rs 4268.00/Quintal, up by 0.71% or Rs 30.00 from its previous closing of Rs 4238.00. The open interest of the contract stood at 123180 lots.

The contract for October delivery was trading at Rs 4335.00/Quintal, up by 0.6% or Rs 26.00 from its previous closing of Rs 4309.00. The open interest of the contract stood at 123810 lots on NCDEX.

✍ JEERA Jeera prices closed higher by 0.88 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for September 2015 contract closed at Rs. 16,135 per quintal, up by 0.88 per cent, after opening at Rs. 15,950 against the previous closing price of Rs. 15,995. It touched the intraday high of Rs.

16,170. Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export esquire.

� RM SEED Mustard Seed prices closed lower by 0.47 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At the NCDEX, Mustard Seed futures for September 2015 contract closed at Rs. 4,239 per quintal, down by 0.47 per cent, after opening at Rs. 4,250 against the previous closing price of Rs. 4,259. It touched the intra-day low of Rs. 4,235. Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.

LEGAL DISCLAIMER This Document has been prepared by Ways2Capital (A Division of High Brow Market Research Investment Advisor Pvt Ltd). The information, analysis and estimates contained herein are based on Ways2Capital Equity/Commodities Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only. This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant for general information only. Ways2Capital Equity/Commodities Research, its directors, officers or employees shall not in any way to be responsible for the contents stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities or commodities.

All information, levels & recommendations provided above are given on the basis of technical & fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability for errors of opinion. People surfing through the website have right to opt the product services of their own choices.

Any investment in 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.