Commodity Research Report 18 September 2018 Ways2Capital

HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

2 Copyright © 2018 Ways2Capital. All rights reserved 18/09/2018
Market Wrap-Up
NCDEX Market Wrap-Up
Commodity Contract
Previous
Close
Open High Low Close
% Change
in Price
% Change in
Open Interest
% Change
in Volume
Currency Market Wrap-Up
Currency Pair Contract
Previous
Close
Open High Low Close
Change in
Price (in%)
MCX Market Wrap-Up
Commodity Contract
Previous
Close
Open High Low Close
% Change in
Price
% Change in
Open Inter-
est
% Change
in Volume
Continued…….
Aluminium 28-Sep-18 147.20 147.45 151.60 143.95 145.00 -1.49% -6.16% 39.32%
Copper 30-Nov-18 422.60 422.80 434.45 421.00 423.95 0.32% 0.36% -22.20%
Crude Oil 19-Sep-18 4,883 4,922 5,140 4,888 4,950 1.37% 20.71% -11.22%
Gold 05-Oct-18 30494 30569 30765 30370 30436 -0.19% 25.81% 2.98%
Lead 28-Sep-18 148.25 148.2 151.2 142 146.5 -1.18% -5.65% 7.65%
Natural Gas 25-Sep-18 200.7 201.1 207.2 199.1 199.7 -0.50% 8.62% 14.67%
Nickel 28-Sep-18 888.7 888.1 912.8 885.3 893.4 0.53% -10.37% -19.69%
Silver 05-Dec-18 37167 37195 37527 36910 36993 -0.47% -22.23% 7.81%
Zinc 28-Sep-18 173.85 174.90 175.95 166.00 166.30 -4.34% -21.90% 79.82%
Castor Seed 16-Oct-18 4720.00 4728.00 4759.00 4650.00 4672.00 -1.02% -53.52% -4.52%
Chana 16-Oct-18 3985.00 3985.00 4100.00 3930.00 4030.00 1.13% -22.53% -12.54%
Dhaniya 16-Oct-18 5208.00 5211.00 5295.00 5111.00 5235.00 0.52% -74.54% -60.21%
COCUDAKL 20-Dec-18 1714.00 1715.00 1753.00 1688.00 1700.50 -0.79% -56.96% 41.69%
Guargum5 16-Oct-18 9348.00 9400.00 9450.00 9210.00 9237.00 -1.19% -0.19% -83.59%
Guarseed10 16-Oct-18 4314.50 4335.00 4363.00 4251.00 4269.50 -1.04% 33.60% 1.13%
Jeera 16-Oct-18 19420.00 19440.00 20180.00 19330.00 20000.00 2.99% -45.24% -4.71%
RMseed 16-Oct-18 4152.00 4169.00 4277.00 4169.00 4240.00 2.12% -73.69% 7.73%
Ref Soya Oil 16-Oct-18 742.60 744.50 748.90 730.30 730.85 -1.58% -7.94% 20.72%
Soyabean 16-Oct-18 3246.00 3252.00 3290.00 3215.00 3251.00 0.15% -1.56% 23.20%
Turmeric 16-Oct-18 6616.00 6600.00 6784.00 6600.00 6712.00 1.45% -74.67% -10.66%
Mentha Oil 28-Sep-18 1744.60 1794.90 1814.30 1712.60 1721.20 -1.34% 3.76% 5.00%
USDINR 26-Sep-18 71.8575 72.2100 73.0250 71.6025 71.9500 0.13%
GBPINR 26-Sep-18 93.4700 93..4000 95.0300 93.2350 94.4475 1.05%
JPYINR 26-Sep-18 64.8575 65.1125 65.6750 64.0600 64.3700 -0.75%
EURINR 26-Sep-18 83.5800 83.3825 84.7075 83.3800 84.2425 0.79%

International Market Wrap-up
Commodity Exchange
Previous
Close
Open High Low Close % Change in Price
Market Wrap-Up
Aluminium LME 2060.25 2064.00 2108.75 2010.50 2036.75 -1.14%
Copper COMEX 2.603 2.598 2.696 2.566 2.613 0.38%
Crude Oil NYMEX 67.75 67.82 71.26 67.33 69.00 1.85%
Gold COMEX 1193.60 1190.40 1205.00 1190.40 1198.30 0.39%
Lead LME 2059.75 2052.50 2092.75 1957.75 2036.75 -1.12%
Natural Gas NYMEX 2.776 2.770 2.869 2.752 2.766 -0.36%
Nickel LME 12332.50 12292.50 12780.00 12082.50 12412.50 0.65%
Silver COMEX 14.067 14.040 14.255 13.910 14.085 0.13%
Zinc LME 2403.70 2409.25 2420.75 2308.25 2309.75 -3.91%

Inventory Updates
LME Inventory
Commodity
Closing (As on 14th Sep 18)
In tones
Closing (As on 7th Sep18)
in tones
% Change in Price
Continued…….
Aluminium 1051200 1062700 -1.08%
Copper 225125 254350 -11.49%
Lead 119425 121625 -1.81%
Nickel 233988 236706 -1.15%
Zinc 221325 235650 -6.08%

Inventory Updates

Market Next Week
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3
Continued…….
Upcoming Economic Events Calender
Time Currency Event Forecast Previous
Monday, September 17, 2018
18:00 USD NY Empire State Manufacturing Index (Sep) 23 25.6
Tuesday, September 18, 2018
Tentative USD OPEC Meeting - -
Wednesday, September 19, 2018
1:30 USD TIC Net Long-Term Transactions (Jul) - -36.5B
14:00 GBP CPI (MoM) (Aug) 0.50% 0.00%
14:00 GBP CPI (YoY) (Aug) 2.40% 2.50%
14:00 GBP CPIH (YoY) - 2.30%
14:00 GBP PPI Input (MoM) (Aug) 0.50% 0.50%
18:00 USD Building Permits (Aug) 1.310M 1.303M
18:00 USD Building Permits (MoM) (Aug) - 1.50%
18:00 USD Current Account (Q2) -103.5B -124.1B
18:00 USD Housing Starts (MoM) (Aug) - 0.90%
18:00 USD Housing Starts (Aug) 1.230M 1.168M
20:00 USD Crude Oil Inventories -0.805M -5.296M
20:00 USD Cushing Crude Oil Inventories - -1.242M
Thursday, September 20, 2018
14:00 GBP Core Retail Sales (MoM) (Aug) -0.20% 0.90%
14:00 GBP Retail Sales (YoY) (Aug) 2.30% 3.50%
Tentative USD OPEC Meeting - -
18:00 USD Initial Jobless Claims 210K 204K
18:00 USD Philly Fed Employment (Sep) - 14.3
19:30 USD Existing Home Sales (MoM) (Aug) 0.20% -0.70%
Friday, September 21, 2018
19:15 USD Manufacturing PMI (Sep) 55 54.7
19:15 USD Markit Composite PMI - 54.7
19:15 USD Services PMI (Sep) 55 54.8
7:30 CNY Chinese Unemployment Rate - 5.10%
USDINR 26-Sep-18 75.0500 73.6000 72.8000 72.2000 71.4000 70.8000 69.3500
GBPINR 26-Sep-18 97.8500 96.0500 95.2500 94.2500 93.4500 92.4500 90.6500
JPYINR 26-Sep-18 67.9500 66.3000 65.3500 64.7000 63.7500 63.1000 61.4500
EURINR 26-Sep-18 86.7500 85.4500 84.8000 84.1000 83.5000 82.7500 81.4500

MCX Weekly Pivots
Commodity Contract R3 R2 R1 PP S1 S2 S3
NCDEX Weekly Pivots
Commodity Contract R3 R2 R1 PP S1 S2 S3
Market Next Week
Aluminium 28-Sep-18 162.15 154.50 149.75 146.85 142.10 139.20 131.55
Copper 30-Nov-18 453.35 439.90 431.90 426.45 418.45 413.00 399.55
Crude Oil 19-Sep-18 5497 5245 5097 4993 4845 4741 4489
Gold 05-Oct-18 31314 30919 30677 30524 30282 30129 29734
Lead 28-Sep-18 164.95 155.75 151.10 146.55 141.90 137.35 128.15
Natural Gas 25-Sep-18 218.20 210.10 204.90 202.00 196.80 193.90 185.80
Nickel 28-Sep-18 952.15 924.65 909.00 897.15 881.50 869.65 842.15
Silver 05-Dec-18 38377 37760 37377 37143 36760 36526 35909
Zinc 28-Sep-18 189.30 179.35 172.80 169.40 162.85 159.45 149.50
Castor Seed 16-Oct-18 4912 4803 4737 4694 4628 4585 4476
Chana 16-Oct-18 4360 4190 4110 4020 3940 3850 3680
Dhaniya 16-Oct-18 5582 5398 5316 5214 5132 5030 4846
COCUDAKL 20-Dec-18 1843.85 1778.85 1739.70 1713.85 1674.70 1648.85 1583.85
Guargum5 16-Oct-18 9779 9539 9388 9299 9148 9059 8819
Guarseed10 16-Oct-18 4518.50 4406.50 4338.00 4294.50 4226.00 4182.50 4070.50
Jeera 16-Oct-18 21537 20687 20343 19837 19493 18987 18137
RMseed 16-Oct-18 4445 4337 4288 4229 4180 4121 4013
Ref Soya Oil 16-Oct-18 773.90 755.30 743.10 736.70 724.50 718.10 699.50
Soyabean 16-Oct-18 3402 3327 3289 3252 3214 3177 3102
Turmeric 16-Oct-18 7067 6883 6797 6699 6613 6515 6331
Mentha Oil 28-Sep-18 1952.8 1851.1 1786.1 1749.4 1684.4 1647.7 1546.0

BULLION
Gold prices traded marginally down Friday morning as investors purchased riskier
assets instead of seeking a safe haven in gold amid hopes for a new round of
U.S.China trade talks. Spot gold declined 0.3 percent to $1,202.30 per ounce after
earlier hitting its highest level since Aug. 28 at $1,212.49. Bullion gained 0.7 per-
cent in the previous session in its biggest singleday rise since Aug. 24. U.S. gold fu-
tures for December delivery settled down $2.70 or 0.2 percent at $1,208.20 per
ounce.
BASE METALS
ENERGY
MCX Fundamentals
On Wednesday the Energy Information Administration released its report on US
crude stocks, showing a decline of 5.3 million barrels in the week ending Septem-
ber 7 compared to a 4.3 million deficit in the previous reading while analysts ex-
pected a 1.3 million drop with total stocks now down to 396.2 million barrels
making them 3% below five-year averages for this time of year.The Energy Infor-
mation Administration released its report on US natural gas inventories, showing
a buildup of 69 billion cubic feet in the week ending September 7, adding to the
63 billion increase in the previous reading, while analysts expected a 65 billion
build.
London copper edged lower on Friday pulling back from a two week high reached in
the prior session as investors exercised caution ahead of possible trade talks be-
tween the United States and China to resolve an escalating tariff war. China will not
buckle to U.S. demands in any trade negotiations the major staterun China Daily
newspaper said in an editorial on Friday after Chinese officials welcomed an invita-
tion from Washington for a new round of talks.

SPICES
NCDEX Fundamentals
OILSEEDS
GUAR COMPLEX
OTHERS
Moderate firm trend persisted for Rmseed with rising Festive season demand
adding to the Bullish sentiments. The trade war between US and China is
seen as a positive news for Indian rape meal exports from a broader perspec-
tive.Despite weak tone in International markets poor selling interest in do-
mestic market kept Kapas/Cotton futures supported yesterday. Bearish re-
ports from USDA may limit upside moves as of now. Govt doubled import
duty on 328 textile items to 20%.
Jeera shot past the psychological 20,000 mark as prices found immediate sup-
port at these levels with a rise in export and Festive season domestic demand
supporting market sentiments aided by falling stocks. Improved production
prospect limits the upside. But now prices are quite low therefore some gains
can be expected this week. No strong trend was noted for Turmeric as good
sowing reports kept sentiments negative. Even as technical is still not very
strongly positive there are expectations of demand on the domestic and export
front picking up with harvesting still time away.
Mentha traded with high volatility as the initial weakness from profit booking
was followed by recovery by end of the day as prices kept facing strong im-
mediate Resistance near the 1800 mark. Fresh buying interest in spot mar-
kets (at lower rates) could support prices and in coming sessions markets
may look to recover. Bearish report in USDA kept pressure on Oil complex as
Soya oil fell moderately with global markets trading on subdued note. Soya
oil had faced resistance in moving above 750 level during last few weeks al-
though the downside has been limited up to 722- 725.
Guar trade with high volatility throughout the week as profit booking at higher
levels limited the uptrend. Recent moderate rains in Rajasthan limited the up-
trend. Howeveras the bearish impact of rains gradually get over with prices on
the lower side and sowing period too nearing end fall in prices may be limited
from the monsoon factor.

From last couple of trading weeks Gold is trading with positive sentiment with positive RSI and we are expecting that
Gold can continue its positive trend from this week also. Last week Gold made a high of 30765 and closed at 30436.
Gold recently broken its downtrend channel on upper side and sustaining above it indicating positive movement in it.
For this week, if it breaks the level of 30680 on the upper side then it can test the level of 30980 during the week. One
can make buy position in it by maintaining a SL at 30580.
Calls of the Week (MCX)
LEAD
GOLD
WEEKLY STRATEGY
PARTICULAR DETAILS
From last couple of trading days lead is trading in sideways channel between 148.50 to 145 with positive RSI. Last week
Lead made a high of 151.20 and closed at 146.50 with overall marginal loss of 1.18% on weekly basis. On its 4 hourly
chart Lead is trading above the 50 days moving average with positive RSI and we are expecting positive movement in
it. For this week, if it breaks the level of 148.50 on the upper side then it can test the level of 152.50 during the week.
One can make buy position in it by maintaining a SL at 147.30.
WEEKLY STRATEGY
PARTICULAR DETAILS
Action Buy
Entry Range Above 30680
Target 30980
SL 30580
Action Buy
Entry Range Above 148.50
Target 152.50
SL 147.30

From last couple of trading weeks COCUDAKL is trading in range and forming Head & Shoulder formation on higher
level. Last week COCUDAKL made a low of 1688 and closed at 1700.50 with overall marginal loss of 0.79% on weekly
basis. On its daily chart COCUDAKL is trading below support level of 1700 with negative RSI and we are expecting nega-
tive movement in it. For this week, if it breaks the level of 1655 on the lower side then it can test the level of 1505 dur-
ing the week. One can make sell position in it by maintaining a SL at 1715.
Calls of the Week (NCDEX)
DHANIYA
COKUDAKL
WEEKLY STRATEGY
PARTICULAR DETAILS
WEEKLY STRATEGY
PARTICULAR DETAILS
Last week Dhaniya made a high of 5295 and closed at 5235 with overall marginal gain of 0.52% on weekly basis. On its
daily chart Dhaniya is forming lower highs and lower lows formation indicating negative movement in it for short term
to mid term basis. For this week, if it breaks the level of 5100 on the lower side then it can test the level of 4950 during
the week. One can make sell position in it by maintaining a SL at 5155.
Action Sell
Entry Range Below 5100
Target 4950
SL 5155
Action Sell
Entry Range Below 1655
Target 1505
SL 1715

Calls of the Week (FOREX)
WEEKLY STRATEGY
PARTICULAR DETAILS
EURINR
JPYINR
WEEKLY STRATEGY
PARTICULAR DETAILS
Last week JPYINR made a low of 64.0600 and closed at 64.3700 with overall marginal loss of 0.75% on weekly basis.
The secondary trend of JPYINR is bearish on chart and market is continuously resist by the Bollinger band upper band
indicating correction from intra day to mid term basis. For this week, if it breaks the level of 64.6000 on the lower side
then it can test the level of 64.1125 during the week. One can make sell position in it by maintaining a SL at 65.0025.
Action Sell
Entry Range Above 64.6000
Target 64.1125
SL 65.0025
EURINR continuously trading with positive sentiment and recently broken its bullish flag pattern and sustaining above
it indicating short term positive movement in it. Last week EURINR made a high of 84.7075 and closed at 84.2425 with
overall marginal gain of 0.79% on weekly basis. For this week, if it breaks the level of 84.7100 on the upper side then it
can test the level of 85.2500 during the week. One can make buy position in it by maintaining a SL at 84.3975.
Action Buy
Entry Range Below 84.7100
Target 85.2500
SL 84.3975

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or views contained in this research report.
रयऩोटा ववश्रेषकों द्वाया तैमाय की गमी है जो द्वाया हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड द्वाया ननमुवत हैं | इस रयऩोटा भें व्मवत सबी ववचाय कं ऩनी के फाये भें व्मक्वतगत ववचायों को
दशााता है औय कं ऩननमों 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 भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कं ऩनी भें कोई ववत्तीम रुधच नहीं है औय न ही इस तयह की ववत्तीम टहत की
प्रकृ नत 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 भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कं ऩनी की प्रनतबूनतमों भें एक प्रनतशत मा उससे अधधक के वास्तववक / पामदेभंद
स्वालभत्व 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 भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड 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 ( ऺनतऩूनता 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 भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड की ऩॉलरसी अऩने ववश्रेषकों, ऩेशेवयों को ववश्रेषक के ऺेत्र भें ककसी बी कं ऩनी की प्रनतबूनतमों के स्वाभी से ववश्रेषकों को रयऩोटा कयने से योकती है।
ववश्रेषक ऺनतऩूनता : ववश्रेषक हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड 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 भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोगीमों ने वऩिरे 12 भहीनों भें ववषम कं ऩनी 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 कं ऩनी 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 भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोगीमों ने ववषम कं ऩनी के अधधकायी, ननदेशक मा कभाचायी के रूऩ भें कबी बी काभ
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Commodity Research Report 18 September 2018 Ways2Capital

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