Commodity Research Report 29 May 2018 Ways2Capital by Ways2Capital

HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

Market Wrap-Up MCX Market Wrap-Up % Change in Open Interest

Commodity

Contract

Previous Close

Open

High

Low

% Change in Price

% Change in Volume

Aluminium

31-May-18

154.80

154.85

157.35

152.75

153.10

-1.10%

-2.20%

-49.70%

Copper

29-Jun-18

462.15

463.10

474.50

461.20

461.80

-0.08%

10.51%

-3.83%

Crude Oil

19-Jun-18

4874

4894

4977

4581

4597

-5.68%

-39.02%

52.94%

Gold

05-Jun-18

31091

31040

31510

30912

31189

0.32%

15.54%

49.70%

Lead

31-May-18

158.65

157.50

171.80

157.50

164.45

3.66%

48.87%

68.50%

Natural Gas

26-Jun-18

197.20

196.00

204.40

194.90

200.70

1.77%

-28.55%

26.71%

Nickel

31-May-18

995.70

992.00

1021.80

985.20

994.40

-0.13%

-14.32%

-23.46%

Silver

05-Jul-18

40195

40178

40916

39890

40267

0.18%

2.13%

70.03%

Zinc

31-May-18

211.10

211.40

212.40

205.40

207.05

-1.92%

-10.98%

-2.76%

NCDEX Market Wrap-Up Previous Close

Open

High

Low

% Change in Price

% Change in Open Interest

% Change in Volume

Commodity

Contract

Castor Seed

20-Jun-18

4021

4050

4090

3991

4002

-0.47%

1.34%

-16.29%

Chana

20-Jun-18

3587

3597

3644

3571

3637

1.39%

-2.40%

-33.64%

Dhaniya

20-Jun-18

4781

4784

4500

4541

-5.02%

11.42%

-26.41%

COCUDAKL

20-Jun-18

1279.50

1275.00

1304.00

1.60%

1.13%

8.76%

Guargum5

20-Jun-18

8303

8400

-0.86%

-0.79%

14.33%

Guarseed10

20-Jun-18

3838.00

3817.00

3875.00

0.10%

-0.94%

18.87%

Jeera

20-Jun-18

15755

15700

16160

15510

16105

2.22%

-14.03%

-53.34%

RMseed

20-Jun-18

3975

3990

4037

3953

4019

1.11%

6.37%

-9.59%

Ref Soya Oil

20-Jun-18

773.75

775.90

786.75

767.30

773.90

0.02%

-3.44%

-4.88%

Soyabean

20-Jun-18

3776

3807

3838

3720

3738

-1.01%

0.56%

-25.81%

Turmeric

20-Jun-18

7244

7250

7360

7100

7146

-1.35%

8.40%

-31.84%

Mentha Oil

31-May-18

1323.60

1303.10

1343.90

1.09%

13.63%

35.89%

1235.50 1300.00 8110

8232

3773.00 3842.00

1239.10 1338.00

Currency Market Wrap-Up Currency Pair

Contract

Previous Close

Open

High

Low

Change in Price (in%)

USDINR

29-May-18

68.0775

68.1925

68.4925

67.6675

67.7650

-0.46%

GBPINR

29-May-18

91.8350

91.6975

91.8375

90.0000

90.4525

-1.51%

JPYINR

29-May-18

61.3475

61.3825

62.5200

61.1700

61.9375

0.96%

EURINR

29-May-18

80.2425

80.1325

80.5650

79.2625

79.3225

-1.15% Continued…….

29/05/2018

Market Wrap-Up International Market Wrap-up Commodity

Exchange

Previous Close

Open

High

Low

% Change in Price

Aluminium

LME

2272.00

2265.75

2314.25

2239.25

2261.25

-0.47%

Copper

COMEX

3.062

3.148

3.052

3.077

0.49%

Crude Oil

NYMEX

71.38

71.44

72.91

67.42

67.48

-5.46%

Gold

COMEX

1291.70

1307.20

1281.20

1301.20

0.74%

Lead

LME

2335.75

2336.25

2514.50

2333.50

2435.50

4.27%

NYMEX

2.837

2.827

2.963

2.808

2.929

3.24%

Nickel

LME

14632.50

14687.50

14055.00

14447.50

14730.00

0.67%

Silver

COMEX

16.465

16.740

16.280

16.520

0.33%

Zinc

LME

3093.75

3099.50

3120.50

3002.00

3058.00

-1.16%

Natural Gas

29/05/2018

Inventory Updates LME Inventory Commodity

Closing In Tonnes (As on 25th May 2018)

Closing In Tonnes (As on 18th May 2018)

% Change in Price

Copper

300125

300200

-0.02%

Nickel

296898

306054

-2.99%

Lead

133300

132025

0.97%

Zinc

229275

231625

-1.01%

Aluminium

1227900

1249450

-1.72%

Continued…….

29/05/2018

Inventory Updates

29/05/2018

Market Next Week Upcoming Economic Events Calender Time

Curreny

Event

Forecast

Monday, May 28, 2018 All Day

GBP

United Kingdom - Spring

Holiday

All Day

USD

United States - Memorial Day

Holiday

Tuesday, May 29, 2018 10:10

USD

FOMC Member Bullard Speaks

Tentative

GBP

Nationwide HPI (YoY)

2.6%

19:30

USD

CB Consumer Confidence (May)

128

128.7

Wednesday, May 30, 2018 17:45

USD

ADP Nonfarm Employment Change (May)

187K

204K

18:00

USD

GDP (QoQ) (Q1)

2.30%

18:00

USD

GDP Price Index (QoQ) (Q1)

2.00%

54.8

Thursday, May 31, 2018 6:30

CNY

Non-Manufacturing PMI (May)

11:30

GBP

Nationwide HPI (YoY) (May)

0.03

0.026

18:00

USD

Core PCE Price Index (MoM) (Apr)

0.001

0.20%

18:00

USD

Initial Jobless Claims

225K

234K

18:00

USD

PCE Deflator (YoY)

0.02

19:15

USD

Chicago PMI (May)

57.6

19:30

USD

Pending Home Sales (MoM) (Apr)

0.50%

0.40%

20:30

USD

Crude Oil Inventories

5.778M

Friday, June 1, 2018 14:00

GBP

Manufacturing PMI (May)

53.6

53.9

18:00

USD

Average Hourly Earnings (YoY) (May)

0.027

0.026

18:00

USD

Nonfarm Payrolls (May)

185K

164K

18:00

USD

Private Nonfarm Payrolls (May)

183K

168K

18:00

USD

Unemployment Rate (May)

0.039

19:15

USD

Manufacturing PMI (May)

56.6

19:30

USD

ISM Manufacturing Employment (May)

54.5

54.2

Currency Weekly Pivots Currency Pair

Contract

USDINR

29-May-18

69.6500

68.8500

68.3500

68.0000

67.5000

67.2000

66.3500

GBPINR

29-May-18

94.4500

92.6000

91.5000

90.7500

89.6500

88.9000

87.1000

JPYINR

29-May-18

64.6000

63.2500

62.6500

61.9000

61.3000

60.5500

59.2000

EURINR

29-May-18

82.3000

81.0000

80.1500

79.7000

78.8500

78.4000

77.1000 Continued…….

29/05/2018

Market Next Week MCX Weekly Pivots Commodity

Contract

Aluminium

31-May-18

164.00

159.00

156.00

154.00

151.00

150.00

145.00

Copper

29-Jun-18

492

479

471

466

457

453.00

439.00

Crude Oil

21-May-18

5510

5114

4856

4718

4460

4322

3926

Gold

05-Jun-18

32400

31802

31495

31204

30897

30606

30008

Lead

31-May-18

193.00

179.00

172.00

165.00

157.00

150.00

136.00

Natural Gas

25-May-18

219.00

210.00

205.00

200.00

196.00

191.00

181.00

Nickel

31-May-18

1074

1037

1016

1000

979

964

927

Silver

04-May-18

42410

41384

40825

40358

39799

39332

38306

Zinc

31-May-18

222.00

215.00

211.00

208.00

204.00

201.00

194.00

NCDEX Weekly Pivots Commodity

Contract

Castor Seed

18-May-18

4226

4127

4064

Chana

18-May-18

3763

3690

Dhaniya

18-May-18

5176

COKUDAKL

18-May-18

Guargum5

4028

3965

3929

3830

3664

3617

3591

3544

3471

4892

4717

4608

4433

4324

4040

1417

1348

1324

1280

1256

1211

1143

18-May-18

8827

8537

8385

8247

8095

7957

7667

Guarseed10

18-May-18

4034

3932

3887

3830

3785

3728

3626

Jeera

18-May-18

17225

16575

16340

15925

15690

15275

14625

RMseed

43238

4171

4087

4053

4003

3969

3919

3835

Ref Soya Oil

43238

815

795

785

776

765

757

737

Soyabean

43238

4001

3883

3811

3765

3693

3647

3529

Turmeric

43238

7722

7462

7304

7202

7044

6942

6682

Mentha Oil

43251

1517

1412

1375

1307

1270

1202

1097

29/05/2018

MCX Fundamentals BULLION Recently, 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 tonnes from 383 tonnes in the first quarter of 2017.The Gold is in perfect uptrend Currently Gold is moving sideways The Gold is now trading in overbought level.The oscillator is showing BUY signal but has moved past its recent high with good volume points to a positive break out .The oscillator is showing BUY signal For short term The current position is buy and closed above 1 month high with volume signals up breakout. Support for the Gold is 30900. Immediate resistance for Gold is 31500.

BASE METALS Threemonth base metals prices on the London Metal Exchange were mixed on the morning of Wednesday May 23, with nickel and lead prices down by 0.4% and 1.4% respectively while copper was off by 0.5% at $6,929 per tonne aluminium and tin are both up by 0.2% and zinc is up by 0.5%.Volume on the LME has been average with 5,074 lots traded as of 6.56am London time.

ENERGY Crude oil price continued its decline strongly to reach the next target at 67.22 and settles there and we need to monitor the price behaviour at this level as breaking it will extend oil price losses to reach 65.50 on the near term basis while its stability will push the price to start recovery attempts that target testing 69.35 level initially.Natural gas price succeeded to form strong bullish attack yesterday by moving away from 2.910 support line to approach the initial target at 3.050 noting that the continuation of the positive pressures will push the price to surpass 38.2%.

29/05/2018

NCDEX Fundamentals SPICES Jeer rates hovered near the psychological 16000 mark. Markets found some immediate support at the lower levels as traders anticipate the demand that had slackened for last few weeks could start rising in coming days. Good monsoon reports had further capped the upside. Traders too anticipate further fall to be limited as prices have fallen a lot over last few months. The demand for . new crop is expected to rise at these lower levels in coming days. the Turmeric kept trading with high volatility as prices found support near the 7000 -7200 mark. Profit booking at the higher levels amidst reports of good monsoon being beneficial for the new crop sowing next month onwards kept pres-

OILSEEDS Prices failed to take any clear direction for Mentha oil as traders expect the harvesting activities to pick up in coming weeks. New crop arrivals could put pressure on the prices. Rising demand on the export front amidst low arrivals had been supporting the market of late. However good crop sowing reports limited the uptrend. The arrivals of the new crop in coming weeks could limit the uptrend. Soya oil faced resistance in moving upwards although buyers entered frequently after small dips. Prices have risen lately mainly on bullish cues from global markets and rumours of duty hike in edible oils. The USDA report released last to last week was perceived as neutral from price movement perspective therefore with futures currently surfacing at higher levels possibility for a long lasting upside rally seems lesser at least for next few days

GUAR COMPLEX

No strong movement was noted for Guar as Guar failed to gather momentum as the uptrend was limited by good and before time arrival of monsoon reports. with prices finding short term support near the psychological 8000 mark. Normal monsoon and its early arrival predictions by IMD had kept pressure on prices. Traders however anticipate present rates to be on lower side with strong further fall in prices being ruled out.

OTHERS Rmseed ended the session on strong note yesterday but weak tone in soybean capped the upside From a broader perspective bullish outlook soybean and palm oil higher import duty on mustard oil lowering arrivals and drop in the crop acreage shall keep the downside in check. Traders anticipate Rmseed prices to firm up further in the near term. As per latest reports from Cotton Association of India (CAI) Indian production for 2017-18 has been lowered by 5 lakh bales of 170 kg each to 362 lakh bales. The reasons being crop damage from severe pink boll worm infestation and lower rains in some areas. Total supply is estimated at 412 lakh bales. . 9

29/05/2018

Calls of the Week (MCX) ZINC From last couple of trading weeks market is trading in range between the level of 210 to 205 with the negative sentiment supported by 100 days moving average. And recently market broken its up trend channel on its hourly chart indicating bearish trend from short term to mid term basis. It is having important support at the level of 206.50 while resistance place at the level of 207.50. One can make sell position below the support level of 206.30 for the target of 203.30 with stop loss of 207.50

WEEKLY STRATEGY PERTICULAR Action Entry Range

DETAILS SELL BELOW 206.30

Target

207.50

203.30

NATURAL GAS The primary trend of Natural Gas is bullish and market is continuously making new highs supported by the 200 days moving average. On its daily chart market is forming bullish flag pattern indicating positive trend in near term to mid term basis. Relative strength index showing positive movement in sustaining above the level 60 supporting bullish trend. Near term resistance place at the level of 203 while market can face the support at the level of 197. One can make buy position above the resistance level for the target of 213.

WEEKLY STRATEGY PERTICULAR

Action

Entry Range

DETAILS

Buy

Above 203

Target

213

197

29/05/2018

Calls of the Week (NCDEX) RAMSEED The primary trend of RMSEED is bearish for long term.From last couple of trading weeks market is trading with positive note but found enough resistance of 4000 level. We can expecting that market can go down from higher level as the current level acted as a strong supply zone. Currently Rmseed is in strong downtrend with good momentum and the trend is supported by good volume. Market can face immediate support at the level of 3980, while Resistance near the level of4040. One can make sell position below the support level of 3980 for the target of 3840 with stop loss of 4045.

WEEKLY STRATEGY PERTICULAR Action Entry Range

DETAILS Sell Below 3980

Target

3840

4045

MENTHAOIL Overall trend of the Menthaoil is bearish for medium to long term.Currently Menthaoil is in strong downtrend with good momentum and the trend is supported by good volume and open interest.The oscillator is showing sell signal For short term to mid term basis. Immidiate Support for the Menthaoil place at the level of1115 while market can face the resistance near the level of 1150.

WEEKLY STRATEGY PERTICULAR Action

Entry Range

DETAILS Sell

Below 1115

Target

1075

1127

29/05/2018

Calls of the Week (FOREX) USDINR Last week USDINR Jun Futures started the week on positive note and made a high of 68.7450 on Thursday. On last day of the week, we saw sharp bearish movement in it and it closed at 68.0000 with the overall loss of 0.45% on weekly basis. Technically it formed Dark Cloud Cover candlestick pattern on weekly charts & for this week, we can expect downside movement in it.For this week, if it breaks the level of 67.5300 then it can test the level of 67.0150 during the week. One can make sell position in it by maintaining a SL 67.8825

WEEKLY STRATEGY PERTICULAR

Action

Entry Range

DETAILS

Sell

Below 67.5350

Target

67.0150

67.8825

EURINR Last week EURINR Jun Futures started the week on negative note and after that it witnessed choppy movement for the most part of the week. On last day of the week, we saw sharp bearish movement in it and it closed at 79.7175 with the overall loss of 1.14% on weekly basis. Technically for this week, we can expect downside movement in as it sustaining below the major support level breakout of 80.2600 with the negative RSI.

WEEKLY STRATEGY PERTICULAR

Action

Entry Range

DETAILS

Sell

Below 79.3050

Target

78.7025

79.6125

29/05/2018

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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. इकिटी / कमोनडटी बाजार में कोई भी ननवेश जोनखम के अधीन होता है, कं पनी इन सुझावों पर ककए गए ककसी भी नुकसान के नलए उत्तरदायी नहीं होगी | यह स्तर भनवष्य के कीमतों की गनत का संकेत नहीं देते है| वेबसाइट के माध्यम से ककसी भी ब्राउजज़ग का अथा है अस्वीकरण की स्वीकृ नत।

DISCLOSURE ( प्रकटीकरण) : High Brow Market Research Investment Advisor Pvt. Ltd. or its associates does not do business with companies covered in research report nor is associated in any manner with any issuer of products/ securities, this ensures that there is no actual or potential conflicts of interest. To ensure compliance with the regulatory body, we have resolved that the company and all its representatives will not make any trades in the market. हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगी कं पननयां अनुसंधान ररपोटा में शानमल कं पननयों के साथ कारोबार नहीं करती हैं और न ही ककसी भी तरह के उत्पादों / प्रनतभूनतयों के जारीकताा के साथ जुडी हैं, जो यह सुनननित करता है कक नहतों के नलए कोई वास्तनवक या संभानवत संघषा नहीं है | ननयामक ननकाय के अनुपालन को सुनननित करने के नलए हमने यह तय ककया है कक कं पनी और उसके कोई भी प्रनतनननध बाज़ार में ट्रेड नहीं करेंगे।

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 यह सलाह दी जाती है कक वे ररपोटा में दी गई जानकारी को के वल राय के रूप में देखें और ननवेश के नलए स्वयं िंै सला करें | ग्राहकों को वेबसाइट पर प्रकानशत सेवाओं के ननयमों और शतों को पढ़ने और समझने की भी सलाह दी जाती है | कं पनी के ननगमन के बाद ननयामक ननकाय द्वाराकं पनी के नखलािं कोई मुकदमा (यानचका) दायर नहीं ककया गया है।

DISCLOSURE APPENDIX ( प्रकटीकरण पररनशष्ट ) : 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. ररपोटा नवश्लेषकों द्वारा तैयार की गयी है जो द्वारा हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड द्वारा ननयुक्त हैं | इस ररपोटा में व्यक्त सभी नवचार कं पनी के बारे में व्यनक्तगत नवचारों को दशााता है और कं पननयों और उनकी प्रनतभूनतयां और क्षनतपूर्तत (मुआवजे) का कोई नहस्सा, या इस शोध ररपोटा में नननहत नवशेष सुझावों या नवचारों से प्रत्यक्ष या अप्रत्यक्ष रूप से संबंनधत नहीं होगा।

DISCLOSURE IN TERMS OF CONFLICT OF INTEREST (नहतों के संघषा के मामले में प्रकटीकरण ): (a) (अ) (b)

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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगी या उनके ककसी भी तत्काल ररश्तेदार की नवषय कं पनी में कोई नवत्तीय रुनच नहीं है और न ही इस तरह की नवत्तीय नहत की प्रकृ नत है|

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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगी या उनके ककसी भी तत्काल ररश्तेदार की नवषय कं पनी की प्रनतभूनतयों में एक प्रनतशत या उससे अनधक के वास्तनवक / िंायदेमंद स्वानमत्व नहीं हैं |

(c)

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;

(स)

हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोनगयों को अनुसंधान ररपोटा के प्रकाशन के समय या सावाजननक रूप से उपनस्थत होने के समय कोई अन्य भौनतक संघषा नहीं है|

DISCLOSURE IN TERMS OF COMPENSATION ( क्षनतपूर्तत के संदभा में प्रकटीकरण): 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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड की पॉनलसी अपने नवश्लेषकों, पेशेवरों को नवश्लेषक के क्षेत्र में ककसी भी कं पनी की प्रनतभूनतयों के स्वामी से नवश्लेषकों को ररपोटा करने से रोकती है। नवश्लेषक क्षनतपूर्तत : नवश्लेषक हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड के वेतन आधाररत स्थायी कमाचारी है |

DISCLOSURE IN TERMS OF PUBLIC APPEARANCE (सावाजननक प्रकटन के मामले में प्रकटीकरण ) : (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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगीयों ने नपिले 12 महीनों में नवषय कं पनी से कोई मुआवजा प्राप्त नहीं ककया 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 ररपोटा के नवतरण की नतनथ से पूवा बारह महीनों के दौरान नवषय कं पनी अब या कभी भी ग्राहक नहीं रही 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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगीयों ने नवषय कं पनी के अनधकारी, ननदेशक या कमाचारी के रूप में कभी भी काम

29/05/2018