Commodity Research Report 03 December 2018 Ways2Capital by Ways2Capital

HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

Market Wrap-Up MCX Market Wrap-Up Commodity

Contract

Previous Close

Open

High

Low

% Change in Price

% Change in Open Interest

% Change in Volume

Aluminium

31-Dec-18

137.70

137.90

138.40

135.35

137.20

-0.36%

179.56%

12.38%

Copper

28-Aug-19

437.05

436.70

443.00

431.30

433.10

-0.90%

97.41%

-17.82%

Crude Oil

18-Dec-18

3,623

3,595

3,726

3,464

3,576

-1.30%

33.74%

1.40%

Gold

05-Feb-19

30726

30687

30889

30180

30244

-1.57%

352.01%

1.01%

Lead

31-Dec-18

138.9

138.55

139.35

134.80

137.25

-1.19%

163.71%

0.88%

Natural Gas

26-Dec-18

314.90

302.40

327.70

286.60

317.40

0.79%

4.36%

0.33%

Nickel

31-Dec-18

770.50

765.00

782.50

757.60

774.80

0.56%

98.14%

-5.91%

Silver

05-Mar-19

36897

36947

37304

35883

36025

-2.36%

126.30%

-9.06%

Zinc

31-Dec-18

180.10

179.95

180.95

172.25

180.20

0.06%

55.61%

-5.60%

NCDEX Market Wrap-Up Contract

Previous Close

Open

High

Low

% Change in Price

Castor Seed

20-Dec-18

5642.00

5678.00

5712.00

5284.00

5348.00

-5.21%

-3.25%

-9.81%

Chana

20-Dec-18

4619.00

4645.00

4780.00

4545.00

4706.00

1.88%

-37.87%

4.14%

Dhaniya

20-Dec-18

6239.00

6265.00

6471.00

6083.00

6468.00

3.67%

-45.88%

6.34%

COCUDAKL

20-Dec-18

1954.50

1952.00

1965.00

1890.50

1907.00

-2.43%

-26.28%

-9.79%

Guargum5

20-Dec-18

9136.00

9090.00

9118.00

8495.00

8692.00

-4.86%

27.02%

0.49%

Guarseed10

20-Dec-18

4461.00

4447.00

4461.00

4227.50

4301.00

-3.59%

3.17%

-2.95%

Jeera

20-Dec-18

19405.00

19470.00

19565.00 18515.00 18640.00

-3.94%

9.67%

-8.91%

RMseed

20-Dec-18

4095.00

4115.00

3966.00

3977.00

-2.88%

-2.94%

-0.17%

Ref Soya Oil

20-Dec-18

733.15

728.10

730.00

713.60

719.95

-1.80%

-29.26%

3.05%

Soyabean

20-Dec-18

3423.00

3426.00

3430.00

3329.00

3354.00

-2.02%

-16.94%

1.76%

Turmeric

20-Dec-18

6482.00

6500.00

6590.00

6250.00

6502.00

0.31%

63.63%

-4.56%

Mentha Oil

31-Dec-18

1658.10

1693.30

1716.50

1630.60

1649.50

-0.52%

-21.09%

-8.16%

Commodity

% Change in Open Interest

% Change in Volume

Currency Market Wrap-Up Contract

Previous Close

Open

High

Low

Change in Price (in%)

USDINR

27-Dec-18

71.0375

70.7500

71.2500

69.7800

69.8525

-1.67%

GBPINR

27-Dec-18

91.4125

90.8375

91.5475

89.1200

89.2350

-2.38%

JPYINR

27-Dec-18

63.0900

62.6450

63.0000

61.6500

61.7175

-2.18%

EURINR

27-Dec-18

81.3200

80.3575

81.0175

79.6000

79.6475

-2.06%

Currency Pair

Continued…….

03/12/2018

Market Wrap-Up International Market Wrap-up Exchange

Previous Close

Open

High

Low

% Change in Price

LME

1942.25

1943.75

1958.75

1916.75

1957.75

0.80%

Copper

COMEX

2.752

2.790

2.792

2.787

2.792

1.45%

Crude Oil

NYMEX

50.42

50.69

52.52

49.46

50.70

0.56%

Gold

COMEX

1223.40

1229.80

1234.60

1217.00

1227.80

0.36%

Lead

LME

1962.25

1956.50

1981.50

1897.75

1954.50

-0.39%

NYMEX

4.309

4.121

4.769

4.041

4.637

7.61%

Nickel

LME

10872.50

10882.50

11192.50

10722.50

11097.50

2.07%

Silver

COMEX

14.260

14.405

14.540

14.115

14.250

-0.07%

Zinc

LME

2508.250

2503.25

2547.75

2394.00

2541.250

1.32%

Commodity Aluminium

Natural Gas

03/12/2018

Inventory Updates LME Inventory Closing (As on 30th Nov 18) In tones

Closing (As on 23rd Nov 18) in tones

% Change in Price

Aluminium

1055275

1070400

-1.41%

Copper

136250

143325

-4.94%

Lead

105600

108775

-2.92%

Nickel

213720

214962

-0.58%

Zinc

119200

123500

-3.48%

Commodity

Continued…….

03/12/2018

Inventory Updates

03/12/2018

Market Next Week Upcoming Economic Events Calender Time

Currency

Event

Forecast

51.8 55.4

51.1 55.4

57.5

56.8 57.7

52.5

1.30% 53.2

Monday, December 3, 2018 15:00 20:15

GBP USD

Manufacturing PMI (Nov) Manufacturing PMI (Nov)

20:30 20:30

USD USD

ISM Manufacturing Employment (Nov) ISM Manufacturing PMI (Nov) Tuesday, December 4, 2018

5:31 15:00

GBP GBP

BRC Retail Sales Monitor (YoY) (Nov) Construction PMI (Nov) Wednesday, December 5, 2018

15:00 18:45

GBP USD

Services PMI (Nov) ADP Nonfarm Employment Change (Nov)

52.5 195K

52.2 227K

19:00 19:00 20:15 20:30 20:30 21:00

USD USD USD USD USD USD

2.30% 1.10% 54.4

2.20% 1.20% 54.4 59.7 60.3 3.577M

Tentative 19:00 19:00 19:00 20:30 20:30

USD USD USD USD USD USD

14:00

GBP

Nonfarm Productivity (QoQ) (Q3) Unit Labor Costs (QoQ) (Q3) Services PMI (Nov) ISM Non-Manufacturing Employment (Nov) ISM Non-Manufacturing PMI (Nov) Crude Oil Inventories Thursday, December 6, 2018 OPEC Meeting Exports Imports Trade Balance (Oct) Cap Goods Ship Non Defense Ex Air (MoM) Factory Orders (MoM) (Oct) Friday, December 7, 2018 Halifax House Price Index (YoY) (Nov)

14:00 19:00

GBP USD

19:00 19:00 19:00

59.1 0.769M

-2.00%

212.57B 266.58B -54.00B 0.30% 0.70%

1.20%

1.50%

Halifax House Price Index (MoM) (Nov) Average Hourly Earnings (MoM) (Nov)

0.40% 0.30%

0.70% 0.20%

USD USD USD

Average Hourly Earnings (YoY) (YoY) (Nov) Nonfarm Payrolls (Nov) Participation Rate (Nov)

3.10% 200K

3.10% 250K 62.90%

19:00

USD

Private Nonfarm Payrolls (Nov)

200K

246K

19:00 20:30

USD USD

Unemployment Rate (Nov) Michigan Consumer Expectations (Dec)

3.70% 88.3

3.70% 88.1

-54.90B

Currency Weekly Pivots Currency Pair

Contract

USDINR

27-Dec-18

71.9500

72.9000

72.0000

71.4500

70.5500

70.0000

68.5500

GBPINR

27-Dec-18

92.4500

93.8500

92.6000

91.8000

90.5500

89.7500

87.7000

JPYINR

27-Dec-18

63.9000

64.9500

64.0500

63.5000

62.6000

62.0500

60.6500

EURINR

27-Dec-18

82.0500

83.4500

82.4000

81.7500

80.7000

80.0500

78.3500 Continued…….

03/12/2018

Market Next Week MCX Weekly Pivots Commodity

Contract

Aluminium

31-Dec-18

138.15

140.05

138.65

137.00

135.60

133.95

130.90

Copper

28-Aug-19

434.00

447.50

440.30

435.80

428.60

424.10

412.40

Crude Oil

18-Dec-18

3582

3851

3713

3589

3451

3327

3065

Gold

05-Feb-19

30493

31147

30695

30438

29986

29729

29020

Lead

31-Dec-18

138.70

141.70

139.50

137.15

134.95

132.60

128.05

Natural Gas

26-Dec-18

309.20

351.65

334.50

310.55

293.40

269.45

228.35

Nickel

31-Dec-18

768.20

796.55

785.70

771.65

760.80

746.75

721.85

Silver

05-Mar-19

36568

37825

36925

36404

35504

34983

33562

Zinc

31-Dec-18

182.35

186.50

183.35

177.80

174.65

169.10

160.40

NCDEX Weekly Pivots Commodity

Contract

Castor Seed

20-Dec-18

6304

5876

5612

5448

5184

5020

4592

Chana

20-Dec-18

5147

4912

4809

4677

4574

4442

4207

Dhaniya

20-Dec-18

7117

6729

6598

6341

6210

5953

5565

COCUDAKL

20-Dec-18

2069.85

1995.35

1951.20

1920.85

1876.70

1846.35

1771.85

Guargum5

20-Dec-18

10014

9391

9042

8768

8419

8145

7522

Guarseed10

20-Dec-18

4796.85

4563.35

4432.20

4329.85

4198.70

4096.35

3862.85

Jeera

20-Dec-18

21007

19957

19298

18907

18248

17857

16807

RMseed

20-Dec-18

4317

4168

4073

4019

3924

3870

3721

Ref Soya Oil

20-Dec-18

754.00

737.60

728.80

721.20

712.40

704.80

688.40

Soyabean

20-Dec-18

3573

3472

3413

3371

3312

3270

3169

Turmeric

20-Dec-18

7127

6787

6645

6447

6305

6107

5767

Mentha Oil

31-Dec-18

1837.4

1751.5

1700.5

1665.6

1614.6

1579.7

1493.8

03/12/2018

MCX Fundamentals BULLION Gold prices were steady early on Monday as the dollar weakened on U.S. China trade truce that revived investor demand for riskier assets. Spot gold inched up 0.1 percent to $1,222.97 per ounce at the time of writing. U.S. gold futures were up 0.2 percent at $1,228.1 per ounce. The dollar index which measures the green back against a basket of six major currencies was down about 0.2 percent. Asian shares rallied on Monday after U.S. and Chinese leaders brokered a truce in their trade conflict a relief for the global economic outlook and a tonic for emerging markets.

BASE METALS

London and Shanghai industrial metals jumped on Monday after U.S. and Chinese leaders agreed to a ceasefire in a trade dispute that has shaken global markets. China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating as the two sides try again to bridge their differences with fresh talks aimed at reaching an agreement within 90 days.

ENERGY Oil jumped on Monday after Russia and Saudi Arabia agreed to extend into 2019 their deal to manage the oil market known as OPEC although Moscow and Riyadh have yet to confirm any fresh output cuts. U.S. West Texas Intermediate (WTI) crude futures were at $53.38 per barrel at the time of writing, up $2.45 per barrel or 4.8 percent from their last close.The Energy Information Administration released its report on US natural gas storage showing a deficit of 59 billion cubic feet in the week ending November 23 compared to a decline of 134 billion in the previous reading while analysts expected a 76 billion decline.

03/12/2018

NCDEX Fundamentals SPICES Jeer traded down last week as reports of improved sowing in recent days from the recent rains kept pressure on market sentiments. The recent reports of rains in parts of growing areas in Gujarat and Rajasthan amidst reports of improved sowing with cooler climate likely in coming weeks had kept trend down. Amidst high volatility Turmeric found some strong support at these lower levels even as higher stocks amidst lower demand kept pressurizing market sentiment. Technically trend does not look very positive as for now.

OILSEEDS Mentha Oil kept trading weak last week on lack of strong demand as traders waited for some corrections in prices before initiating demand for the winter season. Overall sentiments are likely to recover during the winter season. Trend remained weak for Ref Soy oil as a strong Rupee kept up trend limited. Fall in International markets too kept some pressure on prices.

GUAR COMPLEX Good arrivals of new crop, amidst a strong Rupee and falling crude oil rates had adversely had kept pressure on prices as rates crashed. Traders anticipate the demand to grow in coming days on the export front. Prospects of lower production from less rains received in Rajasthan supported prices. Reports of lower arrivals of new crop amidst prospects of fall in sowing area are Bullish factors.

OTHERS RM seed traded down last week tracking other oil complex weakness as good sowing reports amidst low demand kept pressure on prices. Reports of NAFED still having good amount of stocks to sell in the physical market kept trend weak. Soy bean traded under slight pressure last week even as International markets traded firm. Currently the spot prices are still considered lower therefore the recent downgrading of India soy bean ending stock estimate by the USDA can offer some support for the derivative market in longer run. 9

03/12/2018

Calls of the Week (MCX) COPPER Last week Copper made a high of 431.30 and closed at the level of 433.10 with overall marginal loss of 0.90% on weekly basis. Copper recently broken its downtrend channel and sustaining above it indicating positive movement in it. On its daily chart RSI is trading in positive territory and printing above the level of 50. For this week if it is break the level of 466.50 on upper side then it can test the level of 468. One can make buy position in it with SL of 441.50.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

Target

DETAILS

Buy

Above 446.50

468

441.50

ALUMINIUM On its daily chart Aluminium recently broken its resistance trend line and sustaining near the level of 140 and we can expect short term positive movement in it. Last week Copper made a high of 138.40 and closed at the level of 137.20 with overall marginal loss of 0.36% on weekly basis. On its daily chart Aluminium is taking support of 100 days moving average and RSI is printing level 50 on charts. For this week if it is break the level of 141 on upper side then it can test the level of 146. One can make buy position in it with SL of 139.40.

WEEKLY STRATEGY PARTICULAR

Action Entry Range

Target SL

DETAILS

Buy Above 141

146 139.40

03/12/2018

Calls of the Week (NCDEX) CASTOR From last couple of trading weeks Castor is trading with negative sentiment but unable to break the level of 5200 and we seen that 5200 level reacted as a strong support zone in Castor. Last week Castor made a low of 5284 and closed at the level of 5348 with overall marginal loss of 3.25% on weekly basis. Technically Castor is trading above its support level of 5200 and we are expecting bounce back in it from lower level. For this week if it is break the level of 5508 on upper side then it can test the level of 5648. One can make buy position in it with SL of 5449.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Buy

Above 5508

Target

5658

5449

COCUDAKL Last week COCUDAKL started a week on negative not but found enough support near the level of 1900 and made bottom formation on its daily chart. Last week COCUDAKL made a low of 1890.50 and closed at the level of 1907 with overall marginal loss of 2.43% on weekly basis. The primary trend of COCUDAKL is positive and it is sustaining above its support level of 1900. For this week if it is break the level of 1933 on upper side then it can test the level of 2063. One can make buy position in it with SL of 1878.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Buy

Above 1933

Target

2063

1878

03/12/2018

Calls of the Week (FOREX) EURINR Last week EURINR Dec Futures started the week on negative note and continue the same for whole week, market closed below the level of 80.0000 and it closed at 79.6475 with the overall loss of 2.06 per cent on weekly basis. Technically EURINR sustaining below its support trend line also RSI is trading in negative territory indicating negative trend for this week also.For this week, if it breaks the level of 79.6000 on the lower, then it can test the level of 79.0125 during the week. One can make sell position in it by maintaining a SL 80.0125.

WEEKLY STRATEGY PARTICULAR

DETAILS

Action

Entry Range

Sell

Below 79.6000

Target

79.0125

80.0125

GBPINR Last week GBPINR Dec Futures started the week on negative note and continue the same for whole week, market closed below the level of 90.0000 and it closed at 89.2350 with the overall loss of 2.38 per cent on weekly basis. Technically it consolidating below the major psychological support level of 90.0000 with the negative RSI and for this week, we can expect further downside movement in it. For this week, if it breaks the level of 89.5000 on the lower, then it can test the level of 89.0125 during the week. One can make sell position in it by maintaining a SL 89.8525.

WEEKLY STRATEGY

PARTICULAR

Action

Entry Range

DETAILS

Sell

Below 89.5000

Target

89.0125

89.8525

03/12/2018

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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 प्रनतबूनतमां औय ऺनतऩूनता (भुआवजे) का कोई टहस्सा, मा इस शोध रयऩोटा भें ननटहत ववशेष सुझावों 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) 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; (अ) हाई ब्रो भाकेट अनुसंधान 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|

(b) 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, (ब)

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 |

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 ( ऺनतऩनू ता 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, ऩेशेवयों को ववश्रेषक के ऺेत्र भें ककसी बी कंऩनी की प्रनतबूनतमों के स्वाभी से ववश्रेषकों को रयऩोटा कयने से योकती है। ववश्रेषक ऺनतऩूनता : 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

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

(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

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

03/12/2018