Commodity Research Report 17 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

143.85

143.00

146.55

138.40

139.35

-3.13%

5.26%

33.14%

Copper

31-Aug-18

431.60

434.55

439.00

416.80

422.70

-2.06%

-0.65%

-42.99%

Crude Oil

19-Jul-18

5075

5090

5132

4737

4884

-3.76%

-36.31%

-19.00%

Gold

03-Aug-18

30560

30611

30778

30014

30105

-1.49%

9.59%

38.88%

Lead

31-Jul-18

161.55

161.80

163.15

146.15

151.00

-6.53%

-12.76%

3.42%

Natural Gas

26-Jul-18

196.70

196.20

197.40

189.20

189.60

-3.61%

48.07%

-10.62%

Nickel

31-Jul-18

958.90

966.50

984.70

934.30

953.40

-0.57%

3.03%

-5.03%

Silver

05-Sep-18

39766

39908

40170

38833

39046

-1.81%

14.52%

52.89%

Zinc

31-Jul-18

190.60

191.60

191.70

173.60

177.80

-6.72%

24.16%

-25.58%

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

4363

4398

4572

4379

4477

2.61%

-10.89%

-1.38%

Chana

20-Jul-18

3752

3738

3965

3732

3939

4.98%

-17.65%

20.01%

Dhaniya

20-Jul-18

4752

4773

4809

4611

4647

-2.21%

-4.76%

-17.37%

COCUDAKL

20-Jul-18

1589.00

1605.00

1775.00

1605.00

1749.50

10.10%

-17.61%

94.16%

Guargum5

20-Jul-18

8459

8449

8712

8282

8452

-0.08%

-8.13%

-23.01%

Guarseed10

20-Jul-18

4001.00

4011.00

4100.00

3925.00

4005.00

0.10%

-5.74%

0.18%

Jeera

20-Jul-18

18560

18545

18780

18135

18440

-0.65%

-10.28%

-72.13%

RMseed

20-Jul-18

4056

4075

4124

4051

4078

0.54%

-1.32%

-30.50%

Ref Soya Oil

20-Jul-18

755.05

757.80

759.90

741.00

743.65

-1.51%

8.54%

152.88%

Soyabean

20-Jul-18

3527

3569

3627

3485

3537

0.28%

-26.29%

62.96%

Turmeric

20-Jul-18

7118

7080

7124

6878

6930

-2.64%

5.21%

-53.33%

Mentha Oil

31-Jul-18

1382.70

1424.10

1603.50

1398.40

1603.40

15.96%

1.22%

20.74%

Commodity

Currency Market Wrap-Up Currency Pair

Contract

Previous Close

Open

High

Low

Change in Price (in%)

USDINR

27-Jul-18

69.0500

68.8450

69.0400

68.4150

68.5975

-0.66%

GBPINR

27-Jul-18

91.4525

91.4050

92.0475

90.0225

90.1200

-1.46%

JPYINR

27-Jul-18

62.4825

62.4000

62.4475

60.8100

61.0050

-2.36%

EURINR

27-Jul-18

80.9900

81.0000

81.2275

79.7900

79.8575

-1.40% Continued…….

17/07/2018

Market Wrap-Up International Market Wrap-up Exchange

Previous Close

Open

High

Low

% Change in Price

LME

2087.50

2085.00

2133.50

2023.25

2039.75

-2.29%

Copper

COMEX

2.813

2.849

2.859

2.715

2.770

-1.53%

Crude Oil

NYMEX

73.80

73.87

74.70

69.23

71.01

-3.78%

Gold

COMEX

1254.30

1258.20

1262.30

1240.90

1239.60

-1.17%

Lead

LME

2348.00

2334.50

2370.75

2139.75

2212.25

-5.78%

NYMEX

2.858

2.839

2.865

2.750

2.752

-3.71%

Nickel

LME

13960.00

13972.50

14397.50

13567.50

13967.50

0.05%

Silver

COMEX

15.981

16.170

15.710

15.739

-1.51%

Zinc

LME

2748.75

2751.75

2776.25

2503.00

2581.25

-6.09%

Commodity Aluminium

Natural Gas

17/07/2018

Inventory Updates LME Inventory Closing (As on 13th Jul18) In tones

Closing (As on 6th Jul18) in tones

% Change in Price

Aluminium

1134600

1106600

2.53%

Copper

262750

279000

-5.82%

Lead

127300

131175

-2.95%

Nickel

263730

268392

-1.74%

Zinc

245050

249025

-1.60%

Commodity

Continued…….

17/07/2018

Inventory Updates

17/07/2018

Market Next Week Upcoming Economic Events Calender Time

Currency

Event

Forecast

0.90%

Monday, July 16, 2018 7:30

CNY

NBS Press Conference

18:00

USD

Core Retail Sales (MoM) (Jun)

18:00

USD

Retail Sales (MoM) (Jun)

0.40% 0.50%

19:30

USD

Business Inventories (MoM) (May)

0.40%

0.30% 2.50%

0.80%

Tuesday, July 17, 2018 14:00

GBP

Average Earnings Index +Bonus (May)

14:00

GBP

Claimant Count Change (Jun)

2.50% -2.1K

14:00

GBP

Employment Change 3M/3M (MoM)

150.0K

146.0K

14:00

GBP

Unemployment Rate (May)

4.20%

18:45

USD

Industrial Production (YoY)

18:45

USD

Industrial Production (MoM) (Jun)

19:30

USD

Fed Chair Powell Testifies

-7.7K

3.50% 0.60%

-0.10%

Wednesday, July 18, 2018 1:30

USD

TIC Net Long-Term Transactions (May)

34.3B

93.9B

14:00

GBP

CPI (MoM) (Jun)

0.20%

0.40%

14:00

GBP

CPI (YoY) (Jun)

2.60%

2.40%

14:00

GBP

PPI Input (MoM) (Jun)

0.30%

2.80%

18:00

USD

Building Permits (Jun)

1.330M

1.301M

18:00

USD

Housing Starts (MoM) (Jun)

-2.20%

5.00%

18:00

USD

Housing Starts (Jun)

1.320M

1.350M

19:30

USD

Fed Chair Powell Testifies

20:00

USD

Crude Oil Inventories

-6.182M

-12.633M

Thursday, July 19, 2018 14:00

GBP

Core Retail Sales (MoM) (Jun)

-0.30%

1.30%

14:00

GBP

Core Retail Sales (YoY) (Jun)

3.50%

4.40%

14:00

GBP

Retail Sales (YoY) (Jun)

3.70%

3.90%

14:00

GBP

Retail Sales (MoM) (Jun)

0.20%

1.30%

18:00

USD

Initial Jobless Claims

220K

214K

18:00

USD

Philadelphia Fed Manufacturing Index (Jul)

21.5

19.9

18:00

USD

Philly Fed Employment (Jul)

30.4

Friday, July 20, 2018 Tentative

USD

OPEC Meeting

Currency Weekly Pivots Currency Pair

Contract

USDINR

27-Jul-18

69.9500

69.3500

69.0000

68.6842

68.3000

68.0500

67.4000

GBPINR

27-Jul-18

94.8000

92.8000

91.4500

90.7300

89.4000

88.7000

86.6500

JPYINR

27-Jul-18

64.7000

63.1000

62.0500

61.4208

60.3500

59.7500

58.1000

EURINR

27-Jul-18

83.2000

81.7500

80.8000

80.2917

79.3500

78.8500

77.4000 Continued…….

17/07/2018

Market Next Week MCX Weekly Pivots Commodity

Contract

Aluminium

31-Jul-18

157.75

149.60

144.50

141.43

136.30

133.25

125.10

Copper

31-Aug-18

470.60

448.40

435.55

426.17

413.30

403.95

381.75

Crude Oil

19-Jul-18

5708

5313

5098

4918

4703

4523

4128

Gold

03-Aug-18

31827

31063

30584

30299

29820

29535

28771

Lead

31-Jul-18

187.45

170.45

160.75

153.43

143.70

136.40

119.40

Natural Gas

26-Jul-18

208.50

200.30

194.95

192.07

186.70

183.85

175.65

Nickel

31-Jul-18

1058.30

1007.90

980.65

957.47

930.20

907.05

856.65

Silver

05-Sep-18

42024

40687

39866

39350

38529

38013

36676

Zinc

31-Jul-18

217.25

199.15

188.50

181.03

170.35

162.90

144.80

NCDEX Weekly Pivots Commodity

Contract

Castor Seed

20-Jul-18

4862

4669

4573

4476

4380

4283

4090

Chana

20-Jul-18

4345

4112

4025

3879

3792

3646

3413

Dhaniya

20-Jul-18

5085

4887

4767

4689

4569

4491

4293

COCUDAKL

20-Jul-18

2049.85

1879.85

1814.70

1709.83

1644.65

1539.80

1369.80

Guargum5

20-Jul-18

9342

8912

8682

8482

8252

8052

7622

Guarseed10

20-Jul-18

4360

4185

4095

4010

3920

3835

3660

Jeera

20-Jul-18

19742

19097

18768

18452

18123

17807

17162

RMseed

20-Jul-18

4230

4157

4118

4084

4045

4011

3938

Ref Soya Oil

20-Jul-18

786.00

767.10

755.40

748.18

736.45

729.25

710.35

Soyabean

20-Jul-18

3834

3692

3614

3550

3472

3408

3266

Turmeric

20-Jul-18

7469

7223

7077

6977

6831

6731

6485

Mentha Oil

31-Jul-18

1945.30

1740.20

1671.80

1535.10

1466.70

1330.00

1124.90

17/07/2018

MCX Fundamentals BULLION The World Gold Council reported a 7% drop in global demand in the first quarter of 2018 to 973.5 tonnes the lowest since the first quarter of 2008 as investments fell 27% on the precious metal to 287 tones from 383 tones in the first quarter of 2017. Central banks gold demand rose 42% to 116.5 tones especially from Russia while jewellery demand steadied at 487.7 tonnes as mine supplies grew 1% y/y to 770 thousand tonnes. The Gold is bearish for medium long term .Currently Gold is in strong down trend with good momentum but volume is unsatisfactory.

BASE METALS CIS billet exporters continued to face a lack of demand in some major outlets notably Northern Africa and Turkey. Customers in Egypt and Tunisia cited weak domestic markets for finished long steel products and expected billet import prices to drop further. Bids from Egypt were heard within the range of $520-525 per tonne, equivalent to $500-505 per tonne fob Black Sea. Meanwhile a customer in Tunisia said that the range of $500-505 per tonne fob was too high for him considering the fall in domestic finished long steel prices.

ENERGY The Energy Information Administration reported a drop of 12.6 million barrels in US crude stocks in the week ending July 6, passing expectations of a 4.1M drop, and marking the largest drop since September 2016. Total stocks are down to 405.2 million barrels, the lowest since February 2015, while US production stayed the same at 10.90 million bpd, already a record high.

17/07/2018

NCDEX Fundamentals SPICES Jeera traded in a range with prices facing strong resistance at these higher levels. Some more short term dips could be noted even as falling stocks in domestic and International markets amidst rising export and domestic demand with falling Rupee providing support to the prices later on. Shifting of export demand towards India aided by a firm Dollar vs Rupee would support prices in medium term.

OILSEEDS Mentha traded with high volatility as profit booking at the higher levels limited the up trend. Rains in growing areas in UP could adversely affect the harvesting and that is supporting the prices. Daily demand remains strong enough to absorb supplies. Soya oil failed to post a decent upside due to weak tone in soy bean and palm oil. As mentioned earlier the palm oil market in current term seems to respond to estimates of rising production in July.

GUAR COMPLEX As rains poured in over Rajasthan, it looks to keep the recent upside limited for Guar prices. Sowing is expected to pick up. On the other hand, rise in export demand at these lower levels aided by falling Rupee and a firmness in Crude oil prices kept further fall limited.

OTHERS RM seed once again faced resistance against trading above 4150 but the general bias was on the positive side. In near term if monsoon reports indicate better rain prospects then it will an obstacle in prompting upside rallies, since this would imply better sowing prospects during its planting season of OctNov. However the projected decline in domestic mustard sowing area versus last year will be seen as a key bullish fundamental in broader term.

17/07/2018

Calls of the Week (MCX) GOLD Last week, spot gold prices traded lower by 1 percent to trade at $1240 per ounce while MCX gold prices declined 1.5 percent to trade at Rs.30112 per 10 gms. Market is continuously taking support of important level of 30,000 and we are expecting market can bounce back from lower level. If market break the level of 30230 upside then we can expect positive movement in it to the level of 30530. One can make buy position with stop loss of 30138.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Buy

Above 30230

Target

30530

30138

LEAD From last couple of trading weeks market is trading with negative sentiment to the level of 147 and getting bounce back to settle above the level of 150. For this week, if it breaks the level of if it breaks the level of 150.75 on the upside then it can test the level 154.75 during the week. One can make buy position in it by maintaining a stop loss of 149.45.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Buy

Above 150.75

Target

154.75

149.45

17/07/2018

Calls of the Week (NCDEX) COCUDAKL

On its daily chart market has been formed Hammer formation also market can resist by the important psychological level of 1800. From last couple of trading weeks market trading with positive sentiment and trading in overbought zone. For this week we can expect some correction in the market. If market breaks the level of 1740 on downside it can test the level of 1590. One can make sell position with stop loss of 1795.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Sell

Below 1740

Target

1590

1795

CHANA Chana futures on NCDEX staged a strong rally on last Friday surging to 7 month high on strong buying interest. NCDEX chana futures are forecast to extend the positive trend during the day on continued buying support. However, market could take correction during initial trading hours on account of profit booking. Market participants are buying chana futures in anticipation of revival in demand ahead of festive season in India. If market break the level of 4190 then it can test the level of 4290. One can make buy position with stop loss of 4135.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Buy

Above 4190

Target

4290

4135

17/07/2018

Calls of the Week (FOREX) GBPINR Last week GBPINR Jul Futures started the week on positive note but found enough resistance at the level of 92.0000. It made a high of 92.0475 during the week and closed at on 90.1200 with the overall loss of 1.46% on weekly basis. Technically it consolidating above the major support level of 90.0000 with the positive RSI & volume and for this week, we can expect further upside movement in it. For this week, if it breaks the level of if it breaks the level of 91.0000 on the upside then it can test the level of 91.5000 during the week. One can make buy position in it by maintaining a SL 90.7400

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Buy

Above 91.000

Target

91.5000

90.7400

EURINR Last week EURINR Jul Futures started the week on negative note but found enough support at the level of 80.0000. It made a high of 79.7900 during the week and closed at on 79.8575 with the overall loss of 1.40% on weekly basis. Market is continuously making higher highs and higher lows indicating upside movement in coming session. For this week, if it breaks the level of if it breaks the level of 80.4500 on the upside then it can test the level of 80.9500 during the week.

WEEKLY STRATEGY PARTICULAR

Action

Buy

Entry Range

80.4500

Target

80.9500

DETAILS

80.19

17/07/2018

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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

17/07/2018