Commodity Research Report 10 July 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-Jul-18

149.70

146.70

147.50

143.10

143.85

-3.91%

-21.99%

-31.77%

Copper

31-Aug-18

452.30

451.70

453.20

427.55

431.60

-4.58%

22.72%

9.84%

Crude Oil

19-Jul-18

5086

5036

5173

4971

5075

-0.22%

5.30%

22.54%

Gold

03-Aug-18

30432

30399

30737

30244

30560

0.42%

-6.41%

-37.89%

Lead

31-Jul-18

165.55

166.75

159.05

161.55

-2.42%

-39.40%

12.22%

Natural Gas

26-Jul-18

200.80

200.00

200.80

194.70

196.70

-2.04%

12.87%

-12.49%

Nickel

31-Jul-18

1023.40

1020.90

954.10

958.90

-6.30%

-10.84%

11.33%

Silver

05-Sep-18

39921

39800

40050

39269

39766

-0.39%

0.55%

-68.90%

Zinc

31-Jul-18

198.00

198.30

199.85

185.35

190.60

-3.74%

-4.23%

24.53%

NCDEX Market Wrap-Up Contract

Previous Close

Open

High

Low

% Change in Price

% Change in Open Interest

% Change in Volume

Castor Seed

20-Jul-18

4193

4187

4393

4162

4363

4.05%

17.47%

-24.09%

Chana

20-Jul-18

3470

3770

3462

3752

8.13%

-2.71%

92.61%

Dhaniya

20-Jul-18

4681

4700

4827

4667

4752

1.52%

5.97%

-31.36%

COCUDAKL

20-Jul-18

1538.50

1539.00

1612.00

1510.00

1589.00

3.28%

-5.00%

17.56%

Guargum5

20-Jul-18

8171

8654

8124

8459

3.52%

1.86%

-36.80%

Guarseed10

20-Jul-18

3855.00

3865.00

4075.00

3827.00

4001.00

3.79%

-38.24%

-22.28%

Jeera

20-Jul-18

18500

18400

19070

18105

18560

0.32%

-4.78%

-22.64%

RMseed

20-Jul-18

3981

3993

4096

3991

4056

1.88%

0.85%

123.78%

Ref Soya Oil

20-Jul-18

751.00

750.30

757.65

749.00

755.05

0.54%

-0.03%

-13.08%

Soyabean

20-Jul-18

3566

3585

3650

3510

3527

-1.09%

-10.75%

-26.16%

Turmeric

20-Jul-18

7362

7360

7396

7078

7118

-3.31%

0.40%

-53.89%

Mentha Oil

31-Jul-18

1376.50

1236.00

1389.30

1236.00

1382.70

0.45%

-6.49%

78.68%

Commodity

Currency Market Wrap-Up Currency Pair

Contract

Previous Close

Open

High

Low

Change in Price (in%)

USDINR

27-Jul-18

68.7250

68.7975

69.1925

68.5625

69.0500

0.47%

GBPINR

27-Jul-18

90.4325

90.4100

91.7500

90.4100

91.4525

1.13%

JPYINR

27-Jul-18

62.2225

62.0900

62.6300

61.9175

62.4825

0.42%

EURINR

27-Jul-18

80.2175

80.2125

81.0575

80.0850

80.9900

0.96% Continued…….

10/07/2018

Market Wrap-Up International Market Wrap-up Exchange

Previous Close

Open

High

Low

% Change in Price

LME

2131.75

2134.75

2136.50

2071.25

2087.50

-2.08%

Copper

COMEX

2.951

2.954

2.956

2.785

2.819

-4.47%

Crude Oil

NYMEX

74.15

73.62

75.27

72.14

73.91

-0.32%

Gold

COMEX

1251.30

1249.90

1259.90

1237.00

1255.90

0.37%

Lead

LME

2410.50

2411.50

2421.00

2307.75

2348.00

-2.59%

NYMEX

2.924

2.920

2.927

2.822

2.854

-2.39%

Nickel

LME

14950.00

14907.50

14940.00

13862.50

13960.00

-6.62%

Silver

COMEX

16.104

16.055

16.105

15.730

16.070

-0.21%

Zinc

LME

2856.75

2866.00

2873.75

2667.50

2748.75

-3.78%

Commodity Aluminium

Natural Gas

10/07/2018

Inventory Updates LME Inventory Closing AS (As on 6th Jul 18) In tones

Closing (As on 29th Jun 18) in tones

% Change in Price

Aluminium

1106600

1112025

-0.49%

Copper

279000

298250

-6.45%

Lead

131175

131700

-0.40%

Nickel

268392

272754

-1.60%

Zinc

249025

249325

-0.12%

Commodity

Continued…….

10/07/2018

Inventory Updates

10/07/2018

Market Next Week Upcoming Economic Events Calender Time

Currency

Event

Forecast

Monday, July 9, 2018 18:40

USD

FOMC Member Kashkari Speaks Tuesday, July 10, 2018

7:00

CNY

CPI (YoY) (Jun)

0:27

0:25

7:00

CNY

PPI (YoY) (Jun)

0.045

0.041

14:00

GBP

Industrial Production (MoM) (May)

0.005

-0.008

14:00

GBP

Trade Balance (May)

-11.95B

-14.04B

14:00

GBP

Trade Balance Non-EU (May)

-3.60B

-5.37B

Tentative

GBP

NIESR GDP Estimate

19:30

USD

JOLTs Job Openings (May)

0.002 6.698M

Wednesday, July 11, 2018 16:50

USD

OPEC Monthly Report

18:00

USD

Core PPI (MoM) (Jun)

0.002

18:00

USD

PPI (MoM) (Jun)

0.002

20:00

USD

Crude Oil Inventories

0.003 0.005 1.245M

Thursday, July 12, 2018 13:30

USD

IEA Monthly Report

18:00

USD

Core CPI (MoM) (Jun)

0.20%

18:00

USD

Core CPI (YoY) (Jun)

2.30%

2.20%

18:00

USD

CPI (MoM) (Jun)

0.20%

18:00

USD

Initial Jobless Claims

225K

231K

23:30

USD

Federal Budget Balance (Jun)

-144.0B

-147.0B

Friday, July 13, 2018 8:30

CNY

Exports (YoY) (Jun)

10.20%

12.60%

8:30

CNY

Imports (YoY) (Jun)

22.00%

26.00%

8:30

CNY

Trade Balance (USD) (Jun)

27.50B

24.92B

18:00

USD

Export Price Index (MoM) (Jun)

0.30%

0.60%

18:00

USD

Import Price Index (MoM) (Jun)

0.20%

0.60%

19:30

USD

Michigan Consumer Expectations (Jul)

89.7

89.1

19:30

USD

Michigan Consumer Sentiment (Jul)

98.3

98.2

Currency Weekly Pivots Currency Pair

Contract

USDINR

27-Jul-18

70.2000

69.6000

69.3500

68.9350

68.6500

68.3000

67.6500

GBPINR

27-Jul-18

93.9000

92.5500

92.0000

91.2042

90.6500

89.8500

88.5000

JPYINR

27-Jul-18

63.8000

63.1000

62.8000

62.3433

62.0500

61.6000

60.9000

EURINR

27-Jul-18

82.7000

81.7000

81.3500

80.7108

80.3500

79.7000

78.7500 Continued…….

10/07/2018

Market Next Week MCX Weekly Pivots Commodity

Contract

Aluminium

31-Jul-18

153.65

149.25

146.55

144.82

142.10

140.40

136.00

Copper

31-Aug-18

488.75

463.10

447.35

437.45

421.70

411.80

386.15

Crude Oil

19-Jul-18

5477

5275

5175

5073

4973

4871

4669

Gold

03-Aug-18

31500

31007

30783

30514

30290

30021

29528

Lead

31-Jul-18

177.85

170.15

165.85

162.45

158.15

154.75

147.05

Natural Gas

26-Jul-18

209.60

203.50

200.10

197.40

194.00

191.30

185.20

Nickel

31-Jul-18

1111.60

1044.80

1001.85

977.97

935.00

911.15

844.35

Silver

05-Sep-18

41257

40476

40121

39695

39340

38914

38133

Zinc

31-Jul-18

220.95

206.45

198.55

191.93

184.00

177.40

162.90

NCDEX Weekly Pivots Commodity

Contract

Castor Seed

20-Jul-18

4768

4537

4450

4306

4219

4075

3844

Chana

20-Jul-18

4277

3969

3861

3661

3553

3353

3045

Dhaniya

20-Jul-18

5069

4909

4830

4749

4670

4589

4429

COCUDAKL

20-Jul-18

1774.35

1672.35

1630.70

1570.33

1528.65

1468.30

1366.30

Guargum5

20-Jul-18

9472

8942

8701

8412

8171

7882

7352

Guarseed10

20-Jul-18

4464

4216

4108

3968

3860

3720

3472

Jeera

20-Jul-18

20508

19543

19052

18578

18087

17613

16648

RMseed

20-Jul-18

4258

4153

4104

4048

3999

3943

3838

Ref Soya Oil

20-Jul-18

771.20

762.55

758.80

753.90

750.15

745.25

736.60

Soyabean

20-Jul-18

3842

3702

3615

3562

3475

3422

3282

Turmeric

20-Jul-18

7833

7515

7317

7197

6999

6879

6561

Mentha Oil

31-Jul-18

1642.60

1489.30

1436.00

1336.00

1282.70

1182.70

1029.40

10/07/2018

MCX Fundamentals BULLION Spot gold prices traded higher marginally to close at $ 1257.3 per ounce as weakness in the DX coupled with ongoing trade tensions pushed the yellow metal to one week high. Despite escalating trade tensions between US and China gold prices have been falling as markets are pricing in two more rate hikes for the rest of the year. Rising interest rate scenarios does not favour investments in the yellow metal and hence the prices correction. The US economy growing at 4.5 annualised rate in the second quarter and steady dollar are blend of options for gold prices to move down in the coming weeks. MCX gold prices gained 0. 1 percent to trade at Rs. 30650 per 10 gms.

BASE METALS Turkish steel producers have stayed away from the deep-sea scrap market with no cargoes booked between Monday and Friday amid limited domestic and export demand for finished steel products sources told Metal Bulletin this week. After completing their bookings for July deliveries Turkish steel producers went quiet with demand for finished steel in both the local and export markets failing to bounce back after the countryâ&#x20AC;&#x2122;s presidential and general elections in June.

ENERGY Oil prices widened their losses in American trade on Friday for the second straight session, hitting one-week lows after a surprise US inventory build up while US output steadied at record highs, as prices were also hurt by mounting USChina trade tensions. As of 13:03 GMT US crude fell to $72.40 a barrel from the opening of $73.16 while Brent tumbled to $76.65 from the opening of $77.56, marking June 26 lows at $76.35.

10/07/2018

NCDEX Fundamentals SPICES Rates shot up for Jeer on rising export and domestic demand amidst falling stocks with rising Dollar vs Rupee providing further support to the market sentiments. Low stocks in International markets and shifting export demand towards India aided by a firm Dollar vs Rupee are also acting as key bullish factors. Prices firmed up moderately for Turmeric even as good monsoon rains in growing areas in AP kept uptrend limited. export and domestic demand could support prices and prevent too much fall from these levels.

OILSEEDS Rates shot up for Mentha as rains in growing areas adversely affected the harvesting. However prices seem to face immediate resistance at these higher levels and any clearing of skies could lead to improved harvesting activities resulting in some fall in prices from these levels. Daily demand remains strong enough to absorb supplies.

GUAR COMPLEX Guar hit the upper circuit with sentiments gradually changing to a Bullish note with low rains in Rajasthan providing support to the sentiments. Rising crude oil prices and firmness in Dollar vs Rupee supported prices. The bearish impact of favorable Monsoon reports however seem to be gradually getting over. There are expectations that further too much fall from these levels may be limited as they would not be sustainable .

OTHERS Bullish tone in soybean and palm oil in addition to fresh purchase queries in spot markets kept buyers active the in derivative market yesterday. In coming days slowing arrival impact will be seen as a bullish driver. Reports on nature of demand for DOC will be equally important . Futures could sustain higher this time as markets had fallen significantly yesterday while there was no major bearish news. Tuesdayâ&#x20AC;&#x2122;s hike in the MSP was influential in keeping prices up this time. 9

10/07/2018

Calls of the Week (MCX) SILVER Last week, spot Silver prices traded marginally higher to close at $16.08 per ounce while MCX Silver prices declined 0.39 percent to trade at Rs.33766. Silver prices surged to one week high as weakness in the DX by 0.6 percent boosted an upside in the bullion metal. Recently market has been broken its resistance trend line on upside and if market sustain above the level of 40000 we can see positive movement in it for short term to mid term basis.

WEEKLY STRATEGY PERTICULAR

Action

Entry Range

DETAILS

Buy

Above 40050

Target

40500

39800

LEAD Last week Lead Jul Futures started the week on negative note and continued the same for the entire week. It made a low of 159.05 during the week and closed at on 161.55 with the overall loss of 2.42% on weekly basis. Technically it consolidating above the major support level of 160 with the positive RSI and volume and for this week, we can expect upside movement in it.

WEEKLY STRATEGY PERTICULAR

Action

Entry Range

DETAILS

Buy

Above 162.50

Target

165.50

161.40

10/07/2018

Calls of the Week (NCDEX) COCUDAKL Last week COCUDAKL Futures started the week on positive note and continued trade on range for the entire week. It made a high of 1647.50 during the week and closed at on 1627.50 with the overall gain of 3.28 on weekly basis. Technically market is trading on higher level and trading in overbought zone we are expecting correction from higher side. For this week, if it breaks the level of if it breaks the level of 1655 on the lower side then it can test the level of 1525 during the week. One can make sell position in it by maintaining a SL 1710

WEEKLY STRATEGY PERTICULAR

Action

Entry Range

DETAILS

Sell

Below 8710

Target

8500

8820

GUARGUMS Moderate firm trend was noted for Guar on rising crude oil prices and firmness in Dollar vs Rupee, that may aid the export demand. The bearish impact of favorable Monsoon reports amidst lack of strong demand seem to be gradually getting over. It made high of 8285 during the week and closed at 8171 with marginal gain of 9% on the weekly basis. Technically it consolidating above the resistance level of 8000 with the positive RSI and for this week, we can expect further upside movement in it.

WEEKLY STRATEGY PERTICULAR

Action

Entry Range

DETAILS

Buy

Above 8400

Target

8650

8280

10/07/2018

Calls of the Week (FOREX) GBPINR Last week GBPINR Jul Futures started the week on positive note and continued the same for the entire week. It made a high of 91.7500 during the week and closed at on 91.4525 with the overall gain of 1.13% on weekly basis. Technically it consolidating above the major support level of 90 with the positive RSI and volume and for this week, we can expect upside movement in it. For this week, if it breaks the level of if it breaks the level of 91.7500 on the upside then it can test the level of 92.3475 during the week. One can make buy position in it by maintaining a SL 91.4475.

WEEKLY STRATEGY PERTICULAR

Action

Entry Range

DETAILS

Buy

Above 91.7500

Target

92.3475

91.4475

USDINR Last week JPYINR Jul Futures started the week on positive note and continued trade on range for the entire week. It made a high of 62.6300 during the week and closed at on 62.4825 with the overall gain of 0.42% on weekly basis. Technically it is making higher highs and higher lows with the positive RSI and volume and for this week, we can expect upside movement in it.

WEEKLY STRATEGY PERTICULAR

Action

DETAILS

Buy

Entry Range

62.4100

Target

62.9900

62.0975

10/07/2018

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मह दस्तावेज़ Ways2Capital (हाई ब्रो भाकेट अनुसध ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड का एक बाग) द्वाया तैमाय ककमा गमा है | महां ऩय दी गई जानकायी, ववश्रेषण औय अनुभान Ways2Capital इक्ववटी / कभोडडटी अनुसध ं ान के भूलमांकन ऩय आधारयत हैं औय ववश्वसनीम स्रोतों से प्राप्त की गई है | मह दस्तावेज़ केवर इक्छित प्राप्तकताा के उऩमोग के लरए ही है |

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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

10/07/2018