Commodity Research Report 31 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-Jan-19

133.80

134.15

134.25

128.00

128.50

-3.96%

78.05%

17.57%

Copper

28-Feb-19

417.35

418.45

424.70

411.80

417.30

-0.01%

27.74%

-0.90%

Crude Oil

18-Jan-19

3,236

3,245

3,274

2,993

3,185

-1.58%

0.07%

-3.59%

Gold

05-Feb-19

31193

31300

31768

31270

31598

1.30%

8.25%

7.87%

Lead

31-Jan-19

138.9

139.20

145.00

138.45

143.3

3.17%

68.30%

-21.10%

Natural Gas

28-Jan-19

265.40

265.00

268.20

231.40

232.50

-12.40%

-47.07%

8.97%

Nickel

31-Jan-19

765.50

771.90

772.60

745.40

751.00

-1.89%

23.56%

22.95%

Silver

05-Mar-19

37256

37325

38880

37305

38706

3.89%

13.81%

-8.95%

Zinc

31-Jan-19

176.20

177.20

178.40

171.65

171.95

-2.41%

11.06%

15.02%

NCDEX Market Wrap-Up Contract

Previous Close

Open

High

Low

% Change in Price

% Change in Open Interest

% Change in Volume

Castor Seed

18-Jan-19

5142.00

5148.00

5172.00

4908.00

5128.00

-0.27%

10.08%

2.24%

Chana

18-Jan-19

4529.00

4505.00

4243.00

4351.00

-3.93%

-52.99%

0.20%

Dhaniya

18-Jan-19

6340.00

6341.00

6366.00

6069.00

6168.00

-2.71%

10.64%

2.65%

COCUDAKL

18-Jan-19

1867.00

1872.00

1893.00

1807.00

1860.50

-0.35%

-21.62%

15.45%

Guargum5

18-Jan-19

8594.00

8585.00

8620.00

8137.00

8323.00

-3.15%

109.65%

0.31%

Guarseed10

18-Jan-19

4308.00

4318.00

4325.00

4130.00

4249.50

-1.36%

91.71%

6.79%

Jeera

18-Jan-19

17740.00

17680.00

17680.00 17070.00 17255.00

-2.73%

-19.93%

-2.99%

RMseed

18-Jan-19

3983.00

3965.00

3969.00

3873.00

3923.00

-1.51%

-34.31%

3.71%

Ref Soya Oil

18-Jan-19

726.05

728.50

715.55

723.75

-0.32%

119.70%

18.77%

Soyabean

18-Jan-19

3343.00

3332.00

3374.00

3312.00

3362.00

0.57%

111.68%

1.73%

Turmeric

18-Jan-19

6604.00

6598.00

6870.00

6492.00

6676.00

1.09%

90.90%

-2.93%

Mentha Oil

31-Dec-18

1458.20

1451.00

1560.00

1414.50

1513.90

3.82%

17.55%

-9.04%

Commodity

Currency Market Wrap-Up Contract

Previous Close

Open

High

Low

Change in Price (in%)

USDINR

29-Jan-19

70.3875

70.3535

70.6000

70.0025

70.1600

-0.32%

GBPINR

29-Jan-19

89.3225

89.4400

89.6800

88.8550

89.1350

-0.21%

JPYINR

29-Jan-19

63.4425

63.3850

64.0225

63.3000

63.7175

0.43%

EURINR

29-Jan-19

82.0000

80.4450

80.7800

80.0000

80.6750

-1.62%

Currency Pair

Continued…….

31/12/2018

Market Wrap-Up International Market Wrap-up Exchange

Previous Close

Open

High

Low

% Change in Price

LME

1908.25

1911.00

1912.75

1832.00

1846.25

-3.25%

Copper

COMEX

2.668

2.667

2.728

2.642

2.682

0.52%

Crude Oil

NYMEX

45.41

45.45

47.00

42.36

45.33

-0.18%

Gold

COMEX

1258.95

1260.70

1284.70

1260.00

1283.00

1.91%

Lead

LME

1962.50

1967.25

2059.00

1958.25

2044.75

4.19%

NYMEX

3.816

3.758

3.846

3.278

3.303

-13.44%

Nickel

LME

10872.50

10882.50

10985.00

10632.50

10735.00

-1.26%

Silver

COMEX

14.690

14.735

15.460

14.715

15.436

5.08%

Zinc

LME

2497.750

2500.50

2531.25

2435.50

2442.250

-2.22%

Commodity Aluminium

Natural Gas

31/12/2018

Inventory Updates LME Inventory Closing (As on 28th Dec 18) In tones

Closing (As on 21st Dec 18) in tones

% Change in Price

Aluminium

126655

125412

0.99%

Copper

130325

128225

1.64%

Lead

107475

107625

-0.14%

Nickel

209070

209148

-0.04%

Zinc

130425

132325

-1.44%

Commodity

Continued…….

31/12/2018

Inventory Updates

31/12/2018

Market Next Week Upcoming Economic Events Calender Time

Currency

Event

Forecast

53.2

53.4

Monday, December 31, 2018 All Day

Holiday

United Kingdom - New Year's Eve - Early close at 12:30

6:30

CNY

Manufacturing PMI (Dec)

6:30

CNY

Non-Manufacturing PMI (Dec) Tuesday, January 1, 2019

All Day

Holiday

United States - New Year's Day

All Day

Holiday

United Kingdom - New Year's Day

All Day

Holiday

China - New Year Wednesday, January 2, 2019

7:15

CNY

Caixin Manufacturing PMI (Dec)

50.3

50.2

15:00

GBP

Manufacturing PMI (Dec)

52.6

53.1

20:15

USD

Manufacturing PMI (Dec)

53.9

178K

179K

Thursday, January 3, 2019 18:45

USD

ADP Nonfarm Employment Change (Dec)

20:30

USD

ISM Manufacturing Employment (Dec)

20:30

USD

ISM Manufacturing PMI (Dec)

Tentative

USD

New Home Sales (Nov)

Tentative

USD

New Home Sales (MoM) (Nov)

58.4 57.9

59.3

2.90%

-8.90%

Friday, January 4, 2019 12:30

GBP

Nationwide HPI (YoY) (Dec)

1.50%

1.90%

12:30

GBP

Nationwide HPI (MoM) (Dec)

0.10%

0.30%

15:00

GBP

Services PMI (Dec)

50.8

50.4

19:00

USD

Average Hourly Earnings (YoY) (YoY) (Dec)

3.00%

3.10%

19:00

USD

Average Hourly Earnings (MoM) (Dec)

0.30%

0.20%

19:00

USD

Participation Rate (Dec)

19:00

USD

Private Nonfarm Payrolls (Dec)

175K

161K

19:00

USD

Unemployment Rate (Dec)

3.70%

20:15

USD

Services PMI (Dec)

53.4

20:45

USD

FOMC Member Bostic Speaks

21:30

USD

Crude Oil Inventories

62.90%

-0.046M

Currency Weekly Pivots Currency Pair

Contract

USDINR

29-Jan-19

70.2500

70.8500

70.5000

70.2500

69.9000

69.6500

69.0500

GBPINR

29-Jan-19

89.3000

90.0500

89.5500

89.2000

88.7000

88.4000

87.5500

JPYINR

29-Jan-19

63.4500

64.4000

64.1000

63.7000

63.4000

63.0000

62.2500

EURINR

29-Jan-19

80.6500

81.3000

81.0000

80.5000

80.2000

79.7000

78.9500 Continued…….

31/12/2018

Market Next Week MCX Weekly Pivots Commodity

Contract

Aluminium

31-Jan-19

142.75

136.50

132.50

130.25

126.25

124.00

117.75

Copper

28-Feb-19

443.75

430.85

424.10

417.95

411.20

405.05

392.15

Crude Oil

18-Jan-19

3713

3432

3308

3151

3027

2870

2589

Gold

05-Feb-19

32541

32043

31821

31545

31323

31047

30549

Lead

31-Jan-19

155.35

148.80

146.05

142.25

139.50

135.70

129.15

Natural Gas

28-Jan-19

317.65

280.85

256.70

244.05

219.90

207.25

170.45

Nickel

31-Jan-19

810.75

783.55

767.30

756.35

740.10

729.15

701.95

Silver

05-Mar-19

41447

39872

39289

38297

37714

36722

35147

Zinc

31-Jan-19

187.50

180.75

176.35

174.00

169.60

167.25

160.50

NCDEX Weekly Pivots Commodity

Contract

Castor Seed

18-Jan-19

5597

5333

5231

5069

4967

4805

4541

Chana

18-Jan-19

4890

4628

4490

4366

4228

4104

3842

Dhaniya

18-Jan-19

6795

6498

6333

6201

6036

5904

5607

COCUDAKL

18-Jan-19

2025.50

1939.50

1900.00

1853.50

1814.00

1767.50

1681.50

Guargum5

18-Jan-19

9326

8843

8583

8360

8100

7877

7394

Guarseed10

18-Jan-19

4624.85

4429.85

4339.70

4234.85

4144.70

4039.85

3844.85

Jeera

18-Jan-19

18555

17945

17600

17335

16990

16725

16115

RMseed

18-Jan-19

4114

4018

3970

3922

3874

3826

3730

Ref Soya Oil

18-Jan-19

748.50

735.55

729.65

722.60

716.70

709.65

696.70

Soyabean

18-Jan-19

3473

3411

3387

3349

3325

3287

3225

Turmeric

16-Apr-19

7435

7057

6867

6679

6489

6301

5923

Mentha Oil

31-Jan-19

1787.2

1641.7

1577.8

1496.2

1432.3

1350.7

1205.2

31/12/2018

MCX Fundamentals BULLION On Wednesday spot gold prices declined 0.13 percent to close at $1266.9 per ounce amid concerns about global economic growth and a partial U.S. government shut down although a rebound in investor risk appetite in the previous session limited gains. The Dow Jones Industrial Average surged more than 1,000 points for the first time on Wednesday leading a broad Wall Street rebound after a report that holiday sales were the strongest in years helped mollify concerns about the health of the economy.

BASE METALS

Copper prices fell for the fourth consecutive week as concerns that weakening economic growth will curtail demand overshadowed a supply shortfall. LME copper dropped 2.65% and MCX copper slumped more than 5.5% last week. Zinc prices ended the week down 1.57%at LME while at MCX prices closed with losses of 3.30%. Global zinc market is expected to wipe out its deficit in 2019.

ENERGY U.S. West Texas Intermediate crude oil futures are trading higher late Friday. The market is trading inside yesterday range which suggests investor indecision and impending volatility. Today U.S. Energy Information Administration inventories report for the week ending December 21 showed a 46,000 barrel draw down. The Energy Information Administration reported a draw down of 48 billion cubic feet in US natural gas stocks in the week ending December 21 compared to a 141 billion drop in the previous reading while slightly below estimates of 50 billion.

31/12/2018

NCDEX Fundamentals SPICES Moderate recovery was noted for Jeer on short covering after the recent dips. Prices are now turning cheaper hence fresh buying interest may emerge soon. Falling stocks rising demand and expected fall in sowing from lower rains amidst delayed sowing reports in Gujarat/Rajasthan are supporting factors. Turmeric found strong support at these lower levels as strong recovery was noted. Lower rains in growing areas amidst apprehensions of falling yields could support prices for Turmeric in future. Arrivals remains lower at these low levels as traders were not willing to sell at these lower levels.

OILSEEDS Slight firm trend was noted for Mentha after the recent fall in prices. Lack of buying interest among overseas buyers had been keeping sentiments weak. We expect light demand to persist during the entire week.Aggressive short covering against recovering oilseed markets and closure of global markets helped soya oil in staging a recovery. In case US soya oil turns positive then bearish trend will discontinue. Positive sentiment in palm oil shall continue supporting soya oil prices.

GUAR COMPLEX Guar found strong support near the 8000 mark even as lack of export demand amidst weak tone in crude oil prevented strong recovery in prices.Falling crude oil prices amidst firm Rupee also restricted the northward movements. But reports of lower arrivals of new crop amidst prospects of fall in sowing area will be bullish factors.

OTHERS Downside is expected to remain capped this considering that the daily supply of the crop is decreasing gradually while current spot prices are quite cheaper. Soy bean ended the day significantly higher yesterday. As major oilseeds mainly soy bean posted smart gain, RM seed started moving after morning weakness. Positive tone in palm oil also helped futures market to recover. It should be noted that palm oil influences RM seed oil which ultimately impacts the direction of RM seed prices. 9

31/12/2018

Calls of the Week (MCX) ALUMINIUM Aluminium continuously trading with negative sentiment and trading below its major support level of 130. Last week Aluminium made a low of 128 and closed at 128.50 with overall marginal loss of 3.96% on weekly basis. On its daily chart Aluminium broken its support level of 130 and sustaining below it with negative RSI indicating negative trend in it for short term to mid term basis. For this week if it is break the level of 128 on lower side then it can test the level of 125.30. On can make sell position in it with SL of 129.05.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Sell

Below 128

Target

125.30

129.05

LEAD Last week Lead started a week on negative note but found enough support near the level of 137 and bounced back from lower level. On its daily chart market formed Doji indicating trend reversal signal in it. Last week Lead made a low of 128 and closed at 128.50 with overall marginal loss of 3.96% on weekly basis. On its daily chart Lead broken its resistance trend line and sustaining above it indicating positive trend in it. For this week if it is break the level of 145 on upper side then it can test the level of 148. On can make buy position in it with SL of 143.95.

WEEKLY STRATEGY PARTICULAR

Action Entry Range

Target SL

DETAILS

Buy Above 145

148 143.95

31/12/2018

Calls of the Week (NCDEX) CASTOR Last week Castor started a week on negative note but found enough support near the level of 4900 and bounce back from lower level with good volume. Last week Castor made a low of 4908 and closed at 5128 with overall marginal loss of 0.27% on weekly basis. On its four hourly chart Castor recently broken its resistance trend line and sustaining above it indicating positive trend for short term to mid term basis. For this week if it is break the level of 5230 on upper side then it can test the level of 5380. On can make buy position in it with SL of 5175.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Buy

Above 5230

Target

5380

5175

COCUDAKL Last week COCUDAKL started a week on negative note but found enough support near the level of 1800 and bounce back from lower level with good volume. Last week COCUDAKL made a low of 1807 and closed at 1860.50 with overall marginal loss of 0.35% on weekly basis. On its daily chart COCUDAKL forming bullish candlestick pattern indicating positive trend for short term to mid term basis. For this week if it is break the level of 1910 on upper side then it can test the level of 2030. On can make buy position in it with SL of 1855.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Buy

Above 1910

Target

2030

1855

31/12/2018

Calls of the Week (FOREX) USDINR Last week, USDINR Jan Futures started the week on positive note but till the end of the week, all of its earlier gains were erased and it closed at 70.1600 with the overall gain of almost 0.32 per cent on weekly basis. Technically it consolidating near to the major support level breakout with the negative RSI and for this week, we can expect downside movement in it. For this week, traders can adopt selling from the major support level breakout strategy in it and below the level of 69.9000 it can test the level of 69.4125 during the week. Trades can make sell position in it by maintaining a Stop Loss of 70.3125.

WEEKLY STRATEGY PARTICULAR

Action

Entry Range

DETAILS

Sell

Below 69.9000

Target

69.4125

70.3125

GBPINR Last week, GBPINR Jan Futures started the week on negative note and after that it witnessed choppy movement for the remaining part of the week. It made a low of 88.8550 during the week and closed at 89.1350 with the overall loss of 0.21 per cent on weekly basis. Technically it consolidating near to the major support level breakout with the negative RSI and for this week, we can expect downside movement in it. For this week, traders can adopt selling from the major support level breakout strategy in it and below the level of 88.7500 it can test the level of 88.2525 during the week. Trades can make sell position in it by maintaining a Stop Loss of 89.1125.

WEEKLY STRATEGY

PARTICULAR

Action

Entry Range

DETAILS

Sell

Below 88.7500

Target

88.2525

89.1125

31/12/2018

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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

31/12/2018