Gold prices edged higher early Monday, moving closer to a 2-1/2-month peak hit last week, as Asian shares fell amid rising political tensions and worries over slow-

1. HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

2. 2 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
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%)
Continued…….
Aluminium 31-Oct-18 150.00 150.55 152.30 147.25 147.95 -1.37% -36.97% 11.26%
Copper 30-Nov-18 459.55 460.70 464.75 445.55 453.00 -1.43% -21.19% -2.62%
Crude Oil 16-Nov-18 5,248 5,333 5,339 5,061 5,115 -2.53% -14.19% -1.24%
Gold 05-Dec-18 31846 31900 32311 31783 31902 0.18% -17.19% -2.73%
Lead 31-Oct-18 152.2 151.95 156.40 144.15 145.9 -4.14% -49.53% 59.44%
Natural Gas 26-Oct-18 234.20 235.00 243.70 231.70 238.30 1.75% 12.56% 18.75%
Nickel 31-Oct-18 932.80 939.60 943.50 895.00 914.30 -1.98% 19.86% 51.98%
Silver 05-Dec-18 38918 39050 39444 38525 38796 -0.31% -10.87% 8.30%
Zinc 31-Oct-18 197.70 197.60 201.30 191.80 196.60 -0.56% -18.87% 3.06%
Castor Seed 20-Nov-18 4912.00 4910.00 5316.00 4910.00 5266.00 7.21% 147.77% 2.48%
Chana 20-Nov-18 4172.00 4152.00 4173.00 4050.00 4098.00 -1.77% 26.56% 2.49%
Dhaniya 20-Nov-18 5241.00 5260.00 5750.00 5218.00 5646.00 7.73% 28.88% 1.91%
COCUDAKL 20-Dec-18 1779.50 1778.00 1825.00 1770.50 1797.00 0.98% 2.41% 5.92%
Guargum5 20-Nov-18 9244.00 9230.00 9932.00 9228.00 9806.00 6.08% 214.84% 6.25%
Guarseed10 20-Nov-18 4286.50 4269.00 4593.50 4269.00 4544.50 6.02% 126.21% 10.28%
Jeera 20-Nov-18 19955.00 19850.00 20540.00 19820.00 20365.00 2.05% 26.42% -4.96%
RMseed 20-Nov-18 4162.00 4173.00 4200.00 4150.00 4173.00 0.26% 11.03% -2.82%
Ref Soya Oil 20-Nov-18 754.80 757.80 772.20 757.20 765.60 1.43% 213.13% -5.10%
Soyabean 20-Nov-18 3241.00 3251.00 3328.00 3240.00 3246.00 0.15% 7.44% 13.49%
Turmeric 20-Nov-18 6596.00 6600.00 6710.00 6480.00 6560.00 -0.55% -16.77% -2.52%
Mentha Oil 31-Oct-18 1688.10 1701.90 1726.80 1689.30 1702.30 0.84% -30.62% 8.29%
USDINR 29-Oct-18 73.7000 73.8375 74.2100 73.3500 73.3900 -0.42%
GBPINR 29-Oct-18 96.8050 97.0200 97.6125 95.6475 95.6900 -1.15%
JPYINR 29-Oct-18 65.7300 65.9725 66.5100 65.2650 65.3250 -0.62%
EURINR 29-Oct-18 85.4800 85.4475 86.0925 84.1625 84.2325 -1.46%
MCX Market Wrap-Up
Commodity Contract
Previous
Close
Open High Low Close
% Change in
Price
% Change in
Open Inter-
est
% Change
in Volume

3. 3 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
International Market Wrap-up
Commodity Exchange
Previous
Close
Open High Low Close % Change in Price
Market Wrap-Up
Aluminium LME 2029.25 2037.00 2054.75 1997.25 2008.50 -1.02%
Copper COMEX 2.793 2.801 2.830 2.739 2.782 -0.39%
Crude Oil NYMEX 71.34 71.85 72.70 68.47 69.37 -2.76%
Gold COMEX 1218.10 1222.40 1232.30 1222.40 1225.30 0.59%
Lead LME 2048.00 2046.00 2115.75 1970.50 1996.25 -2.53%
Natural Gas NYMEX 3.161 3.224 3.340 3.155 3.229 2.15%
Nickel LME 12690.00 12715.00 12812.50 12202.50 12472.50 -1.71%
Silver COMEX 14.564 14.215 14.565 14.215 14.564 0.00%
Zinc LME 2633.25 2641.50 2685.75 2562.00 2626.75 -0.25%

4. 4 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
Inventory Updates
LME Inventory
Commodity
Closing (As on 19th Oct 18)
In tones
Closing (As on 12th Oct 18)
in tones
% Change in Price
Continued…….
Aluminium 1072950 941500 13.96%
Copper 158300 170100 -6.94%
Lead 115725 116375 -0.56%
Nickel 219924 224928 -2.22%
Zinc 173050 191500 -9.63%

5. 5 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
Inventory Updates

6. 6 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
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
Tuesday, October 23, 2018
15:30 GBP CBI Industrial Trends Orders (Oct) 1 -1
Wednesday, October 24, 2018
14:00 GBP Gross Mortgage Approvals 39.4K
19:15 USD Manufacturing PMI (Oct) 55.4 55.6
19:15 USD Markit Composite PMI 53.9
19:15 USD Services PMI (Oct) 54 53.5
19:30 USD New Home Sales (Sep) 625K 629K
19:30 USD New Home Sales (MoM) (Sep) -1.40% 3.50%
20:00 USD Crude Oil Inventories 6.490M
Thursday, October 25, 2018
18:00 USD Cap Goods Ship Non Defense Ex Air (MoM) -0.20%
18:00 USD Core Durable Goods Orders (MoM) (Sep) 0.30% 0.10%
18:00 USD Durable Goods Orders (MoM) (Sep) -1.30% 4.40%
18:00 USD Goods Trade Balance (Sep) -73.50B -75.46B
18:00 USD Initial Jobless Claims 213K 210K
Friday, October 26, 2018
18:00 USD
GDP (QoQ) (Q3) 3.30% 4.20%
18:00 USD
GDP Price Index (QoQ) (Q3) 2.30% 3.30%
19:30 USD
Michigan Consumer Expectations (Oct) 89.1 89.1
19:30 USD
Michigan Consumer Sentiment (Oct) 99 99
USDINR 29-Oct-18 75.3500 74.5000 73.9500 73.6500 73.1000 72.8000 71.9500
GBPINR 29-Oct-18 100.2500 98.2500 96.9500 96.3000 95.0000 94.3500 92.3500
JPYINR 29-Oct-18 68.2000 66.9500 66.1500 65.7000 64.9000 64.4500 63.2000
EURINR 29-Oct-18 88.7000 86.8000 85.5500 84.8500 83.6000 82.9000 81.0000

7. 7 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
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 31-Oct-18 159.25 154.20 151.05 149.15 146.00 144.10 139.05
Copper 30-Nov-18 492.85 473.65 463.35 454.45 444.15 435.25 416.05
Crude Oil 16-Nov-18 5728 5450 5282 5172 5004 4894 4616
Gold 05-Dec-18 33055 32527 32214 31999 31686 31471 30943
Lead 31-Oct-18 173.30 161.05 153.45 148.80 141.20 136.55 124.30
Natural Gas 26-Oct-18 261.90 249.90 244.10 237.90 232.10 225.90 213.90
Nickel 31-Oct-18 1014.60 966.10 940.20 917.60 891.70 869.10 820.60
Silver 05-Dec-18 40760 39841 39318 38922 38399 38003 37084
Zinc 31-Oct-18 215.55 206.05 201.30 196.55 191.80 187.05 177.55
Castor Seed 20-Nov-18 5976 5570 5418 5164 5012 4758 4352
Chana 20-Nov-18 4353 4230 4164 4107 4041 3984 3861
Dhaniya 20-Nov-18 6602 6070 5858 5538 5326 5006 4474
COCUDAKL 20-Dec-18 1906.50 1852.00 1824.50 1797.50 1770.00 1743.00 1688.50
Guargum5 20-Nov-18 11063 10359 10083 9655 9379 8951 8247
Guarseed10 20-Nov-18 5118.00 4793.50 4669.00 4469.00 4344.50 4144.50 3820.00
Jeera 20-Nov-18 21682 20962 20663 20242 19943 19522 18802
RMseed 20-Nov-18 4274 4224 4199 4174 4149 4124 4074
Ref Soya Oil 20-Nov-18 795.00 780.00 772.80 765.00 757.80 750.00 735.00
Soyabean 20-Nov-18 3447 3359 3303 3271 3215 3183 3095
Turmeric 20-Nov-18 7043 6813 6687 6583 6457 6353 6123
Mentha Oil 31-Oct-18 1781.2 1743.7 1723.0 1706.2 1685.5 1668.7 1631.2

8. 8 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
BULLION
Gold prices edged higher early Monday, moving closer to a 2-1/2-month peak hit
last week, as Asian shares fell amid rising political tensions and worries over slow-
ing global economic growth. Spot gold was up 0.1 percent at $1,227.56 an ounce at
the time of writing. On Oct. 15, the bullion touched its highest since July 26 at
$1,233.26. Asian share markets fell anew on Monday as investors braced for the
peak of the U.S. earnings season while angst over Saudi Arabia, Italy and Brexit kept
geopolitics front at the canter.
BASE METALS
ENERGY
MCX Fundamentals
Oil prices edged up on Monday as markets were expected to tighten once U.S.
sanctions against Iran's crude exports are implemented next month. Front month
Brent crude oil futures were trading at $79.88 a barrel at the time of writing 10
cents above their last close. U.S. West Texas Intermediate crude futures were at
$69.31 a barrel 19 cents above their last settlement. The Energy Information Ad-
ministration released its report on US natural gas stocks showing a build of 81
billion cubic feet in the week ending October 12, adding to the 90 billion increase
in the previous reading while analysts expected an 85B addition.
London copper prices rose for a second session in early Asian trade on Monday, ex-
tending a rally fuelled by a pledge from China's central bank that it would support
firms with liquidity problems. Three-month copper on the London Metal Exchange
edged up 0.3 percent to $6,236.50 a tonne at the time of writing, extending a 1 per-
cent jump from the previous session.

9. 9 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
SPICES
NCDEX Fundamentals
OILSEEDS
GUAR COMPLEX
OTHERS
After the initial recovery seen in prices for Soy bean profit booking was noted
ta the higher levels even as moderately firm trend was noted in oil complex
sector in the International markets. Slight firm USDA report pushed prices
slightly higher at close.
No strong movement was noted for RM Seed last week but prices found
some support at the lower levels as all eyes remain on the sowing aspects.
Lower rains in Rajasthan could adversely affect the sowing process there
leading to some support for the prices.
Trend remained Bullish for Jeer last week as falling stocks amidst rising export
and festive season domestic demand supported pries. With sowing appre-
hended to fall in Gujarat/Rajasthan due to less rains received this year it may
support prices further.
No strong movement was noted for Turmeric last week as prices found imme-
diate support at these levels. But high stocks amidst lack of very strong demand
kept pressurizing prices. Technically trend did not look very positive for now.
No strong movement was noted for Mentha last week as rising demand sup-
ported prices while Punjab Govt imposing ban on Gutka and Pan Masala lim-
ited strong recovery. Overall sentiments look positive ahead of an expected
pick up in export and domestic demand during winter. Bullish trend was
noted for Ref Soy Oil in the International markets and that supported the do-
mestic markets. Rising Festive season demand further supported prices in
India as overall trend looks moderately positive in the near term.
Bullish trend was noted for Guar last week on apprehensions of lower produc-
tion from less rains received in Rajasthan. Reports of lower arrivals of the new
crop amidst prospects of fall in sowing area in Rajasthan are likely to support
prices in medium term. With low rains reported in West Rajasthan and excess
rains reported in East Rajasthan this year market sources believe both these
factors to be damaging for the crop.

10. 10 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
From last couple of trading weeks Gold is trading in range between the level of 32100-31800 and forming descending
triangle formation on higher level. Last week Gold made a low of 31783 and closed at 31902 with overall marginal gain
of 0.18% on weekly basis. On its daily chart Gold is forming lower highs formation indicating negative trend in it. For
this week, if it breaks the level of 31780 on the lower side then it can test the level of 31352 during the week. One can
make sell position in it by maintaining a SL at 31911.
Calls of the Week (MCX)
ALUMINIUM
GOLD
WEEKLY STRATEGY
PARTICULAR DETAILS
Last week Aluminium started a week on negative notes but found enough support near the level of 147 and sustaining
above it. Last week Aluminium made a low of 147.25 and closed at 147.95 with overall marginal loss of 1.37% on
weekly basis. On its daily chart Aluminium is forming bullish spinning top candlestick pattern indicating positive trend
in it. For this week, if it breaks the level of 149.30 on the upper side then it can test the level of 154.30 during the
week. One can make buy position in it by maintaining a SL at 147.90.
WEEKLY STRATEGY
PARTICULAR DETAILS
Action Sell
Entry Range Below 31780
Target 31352
SL 31911
Action Buy
Entry Range Above 149.30
Target 154.30
SL 147.90

11. 11 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
From last couple of trading weeks Guargum is trading with positive sentiment and recently market has broken its im-
portant level of 10,000 and sustaining above it indicating further positive movement In it. On its daily chart RSI is trad-
ing in positive territory and printing above the level of 50 indicating short term to mid term positive movement in it.
Last week Guargum made a high of 9932 and closed at 9806 with overall marginal gain of 6% on weekly basis. For this
week, if it breaks the level of 10115 on the upper side then it can test the level of 10335 during the week. One can
make buy position in it by maintaining a SL at 9990.
Calls of the Week (NCDEX)
DHANIYA
GUARGUMS
WEEKLY STRATEGY
PARTICULAR DETAILS
WEEKLY STRATEGY
PARTICULAR DETAILS
Last week Dhaniya started a week on positive note and continue the same for the whole week. On its daily chart
Dhaniya forming double bottom formation on lower level indicating positive trend in it. Las week Dhaniya made a high
of 5750 and closed at 5646 with overall marginal gain of 7% on weekly basis. For this week, if it breaks the level of
5780 on the upper side then it can test the level of 5910 during the week. One can make buy position in it by maintain-
ing a SL at 5725.
Action Buy
Entry Range Above 5780
Target 5910
SL 5725
Action Buy
Entry Range Above 10115
Target 10335
SL 9990

12. 12 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
Calls of the Week (FOREX)
WEEKLY STRATEGY
PARTICULAR DETAILS
EURINR
USDINR
WEEKLY STRATEGY
PARTICULAR DETAILS
From last couple of trading weeks USDINR is trading with negative sentiment and unable to break the level of 75.0000.
Last week USDINR made a low of 73.3500 and closed at the level of 73.3900 with overall marginal loss of 0.42% on
weekly basis. USDINR continuously making lower lows and lower highs formation indicating correction in it. For this
week if it is break the level of 73.3500 on lower side then it can test the level of 73.9125. One can make sell position in
it with SL of 73.6125.
Action Sell
Entry Range Above 73.3500
Target 72.9125
SL 73.6125
Last week EURINR started a week on negative note but found enough support near the level of 84.0000 and get
bounce back from lower level. Last week EURINR made a low of 84.1625 and closed at the level of 84.2325 with overall
marginal loss of 1.46% on weekly basis. On its daily chart EURINR taking support of Ichimoku cloud and forming rever-
sal formation on lower level. For this week if it is break the level of 85.0000 on upper side then it can test the level of
85.4550. One can make buy position in it with SL of 84.6925.
Action Buy
Entry Range Above 85.00
Target 85.4550
SL 84.6925

13. 13 Copyright © 2018 Ways2Capital. All rights reserved 23/10/2018
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औय उसके कोई बी प्रनतननधध फाज़ाय भें ट्रेड नहीं कयेंगे।
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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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