Commodity Research Report 24 April 2018 Ways2Capital

HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

2 Copyright © 2018 Ways2Capital. All rights reserved 24/04/2018
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…….
MCX Market Wrap-Up
Commodity Contract
Previous
Close
Open High Low Close
% Change in
Price
% Change in
Open Interest
% Change
in Volume
Aluminium 30-Apr-18 149.75 150.20 178.20 150.20 165.90 10.78% -5.41% -3.41%
Copper 30-Apr-18 442.75 442.75 464.00 442.00 458.75 3.61% 1.49% 8.27%
Crude Oil 21-May-18 4408 4379 4589 4320 4531 2.79% -23.84% -18.47%
Gold 05-Jun-18 31118 31200 31620 31155 31432 1.01% 0.85% -44.36%
Lead 30-Apr-18 150.25 151.70 158.90 151.05 154.90 3.09% -26.75% -19.14%
Natural Gas 25-May-18 181.90 182.60 186.00 179.20 184.30 1.32% -22.65% -71.57%
Nickel 30-Apr-18 904.90 907.30 1095.20 907.30 980.90 8.40% 10.12% 95.70%
Silver 04-May-18 38927 39039 40769 38855 40479 3.99% -10.58% -6.75%
Zinc 30-Apr-18 202.70 203.80 216.50 202.30 214.65 5.90% -12.19% -15.82%
Castor Seed 18-May-18 4147 41200 4164 4052 4142 -0.12% 3.62% 84.35%
Chana 18-May-18 3675 3675 3698 3605 3673 -0.05% 2.08% 4.07%
Dhaniya 18-May-18 5184 5188 5210 5015 5101 -1.60% 0.24% 6.95%
Cottonseed Oil
Cake
18-May-18 1408.50 1405.00 1416.00 1338.00 1344.50 -4.54% 21.30% 130.60%
Guargum5 18-May-18 8937 8926 9200 8760 9140 2.27% 1.53% 19.20%
Guarseed10 18-May-18 4111.50 4119.00 4219.00 4042.00 4197.50 2.09% 4.63% 24.40%
Jeera 18-May-18 15655 15685 16380 15685 16060 2.59% -24.97% -45.21%
Kapas 30-Apr-18 916.00 915.00 935.50 885.50 891.00 -2.73% -48.63% -45.04%
RMseed 18-May-18 3927 3930 3934 3872 3925 -0.05% 5.22% 10.43%
Ref Soya Oil 18-May-18 774.50 772.10 785.00 765.00 776.65 0.28% -8.46% 36.37%
Soyabean 18-May-18 3852 3849 3849 3733 3760 -2.39% -4.83% -14.53%
Turmeric 18-May-18 6750 6788 6968 6712 6882 1.96% 4.06% 113.38%
Mentha Oil 30-Apr-18 1407.80 1401.50 1464.50 1387.20 1394.50 -0.94% -4.64% -71.85%
USDINR 25-Apr-18 65.2900 65.4000 66.1350 65.3700 66.0850 1.22%
GBPINR 25-Apr-18 93.1525 93.2500 94.4375 92.6925 92.9575 -0.21%
JPYINR 25-Apr-18 60.6600 60.8600 61.4800 60.8600 61.9350 2.10%
EURINR 25-Apr-18 80.4625 80.5500 81.5675 80.5500 81.3275 1.08%

International Market Wrap-up
Commodity Exchange
Previous
Close
Open High Low Close % Change in Price
Market Wrap-Up
Aluminium LME 2281.00 2276.25 2715.75 2276.00 2473.25 8.43%
Copper COMEX 3.067 3.068 3.164 3.068 3.131 2.09%
Crude Oil NYMEX 67.39 67.24 69.56 65.56 68.38 1.47%
Gold COMEX 1347.90 1349.80 1359.00 1337.00 1338.30 -0.71%
Lead LME 2302.75 2301.25 2413.00 2289.25 2336.00 1.44%
Natural Gas NYMEX 2.735 2.735 2.790 2.658 2.739 0.15%
Nickel LME 13902.50 13947.50 16687.50 13860.00 14850.00 6.82%
Silver COMEX 16.628 16.825 17.200 16.825 17.147 3.12%
Zinc LME 3110.00 3102.75 3300.25 3071.00 3241.25 4.22%

Inventory Updates
LME Inventory
Commodity
Closing In Tonnes
(As on 20th April 2018)
Closing In Tonnes
(As on 13th April 2018)
% Change in Price
Continued…….
Copper 355150 362700 -2.08%
Nickel 314328 314946 -0.20%
Lead 129500 129325 0.14%
Zinc 186825 196475 -4.91%
Aluminium 1404350 1345225 4.40%

Inventory Updates

Market Next Week
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3
Continued…….
Economic Events Calendar
Time Currency Event Forecast Previous
USDINR 25-Apr-18 67.4000 66.6000 66.3500 65.8500 65.5500 65.1000 64.3000
GBPINR 25-Apr-18 96.8500 95.1000 94.0000 93.3500 92.2500 91.6000 89.8500
JPYINR 25-Apr-18 62.7000 62.0500 62.0500 61.4500 61.4000 60.8500 60.2000
EURINR 25-Apr-18 83.2000 82.1500 81.7500 81.1500 80.7500 80.1500 79.1000
Monday, April 23, 2018
19:15 USD Manufacturing PMI (Apr) 55.20 55.60
19:15 USD Markit Composite PMI 55.30 54.20
19:15 USD Services PMI (Apr) 54.30 54.00
19:30 USD Existing Home Sales (Mar) 5.55M 5.54M
19:30 USD Existing Home Sales (MoM) (Mar) 0% 3%
Tuesday, April 24, 2018
18:30 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Feb) 6.3% 6.4%
18:40 GBP BoE Deputy Governor Woods Speaks
19:30 USD CB Consumer Confidence (Apr) 126 127.7
19:30 USD New Home Sales (Mar) 625K 618K
19:30 USD New Home Sales (MoM) (Mar) 1.9% -0.6%
Wednesday, April 25, 2018
2:00 USD API Weekly Crude Oil Stock -1.047M
20:00 USD Crude Oil Inventories -1.429M -1.071M
Thursday, April 26, 2018
14:00 GBP Gross Mortgage Approvals 37.1K 38.1K
18:00 USD Cap Goods Ship Non Defense Ex Air (MoM) 0.40% 1.40%
18:00 USD Core Durable Goods Orders (MoM) (Mar) 0.50% 1.00%
18:00 USD Durable Goods Orders (MoM) (Mar) 1.30% 3.00%
18:00 USD Goods Trade Balance (Mar) -74.80B -75.88B
18:00 USD Initial Jobless Claims 235K 232K
Friday, April 27, 2018
11:30 GBP Nationwide HPI (MoM) (Apr) 0.20% -0.20%
14:00 GBP GDP (YoY) (Q1) 1.40% 1.40%
14:00 GBP GDP (QoQ) (Q1) 0.30% 0.40%
18:00 USD Employment Cost Index (QoQ) (Q1) 0.70% 0.60%
18:00 USD GDP Price Index (QoQ) (Q1) 2.20% 2.30%
19:30 GBP BoE Gov Carney Speaks
19:30 USD Michigan Consumer Sentiment (Apr) 98 97.8

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 30-Apr-18 220.75 192.75 179.30 164.75 151.30 136.75 108.75
Copper 30-Apr-18 498.9 476.9 467.8 454.9 445.8 432.90 410.90
Crude Oil 21-May-18 5018 4749 4640 4480 4371 4211 3942
Gold 05-Jun-18 32332 31867 31650 31402 31185 30937 30472
Lead 30-Apr-18 170.65 162.80 158.85 154.95 151.00 147.10 139.25
Natural Gas 25-May-18 196.75 189.95 187.10 183.15 180.30 176.35 169.55
Nickel 30-Apr-18 1370 1182 1082 994 894 807 619
Silver 04-May-18 43862 41948 41214 40034 39300 38120 36206
Zinc 30-Apr-18 239.55 225.35 220.00 211.15 205.80 196.95 182.75
Dhaniya 18-May-18 5499 5304 5202 5109 5007 4914 4719
Cottonseed Oil Cake 18-May-18 1522 1444 1394 1366 1316 1288 1210
Guargum5 18-May-18 9913 9473 9307 9033 8867 8593 8153
Guarseed10 18-May-18 4507 4330 4264 4153 4087 3976 3799
Jeera 18-May-18 17432 16737 16398 16042 15703 15347 14652
Kapas 30-Apr-18 1004 954 923 904 873 854 804
RMseed 18-May-18 4034 3972 3949 3910 3887 3848 3786
Ref Soya Oil 18-May-18 816 796 786 776 766 756 736
Soyabean 18-May-18 4013 3897 3828 3781 3712 3665 3549
Turmeric 18-May-18 7366 7110 6996 6854 6740 6598 6342
Mentha Oil 30-Apr-18 1570 1493 1444 1415 1366 1338 1261

BULLION
Gold prices fell on Friday before the weekend as commodity demand falls and dol-
lar recovers against a basket of major rivals.US treasury yields rose yesterday to
one month highs, siphoning liquidity away from gold and commodities to the bond
market. Higher US bond yields underpinned the dollar yesterday as well before the
close weighing on dollar denominated commodity prices. Risk appetite improved
this week as trade tensions faded with China proving capable of opening its local
market to avoid a full fledged trade war with the US.
BASE METALS
Glencoreowned Access World has delisted 12 of its 20 London Metal Exchange reg-
istered warehouses in Vlissingen in The Netherlands amid outflows of aluminium
stocks after sanctions were imposed by the United States on Russian producer UC
Rusal. The accumulation of aluminum stocks into Access World’s LME warehouses
in Vlissingen caused a queue to form in 2011 and to peak in 2014 with more than
two years of waiting time to take delivery of material.
ENERGY
US crude fell to $67.90 a barrel from the opening of $68.20, while Brent dipped to
$73.25 a barrel from the opening of $73.59.US crude fell 0.9% yesterday while
Brent shed 0.3%, the first loss in three days on profit taking after marking Novem-
ber 2014 highs.
natural gas futures due on May 15 fell 1.58% to $2.675 per million British thermal
units from the opening of $2.718,while the dollar index rose 0.37% to 90.48 from
the opening of 90.14 marking early March highs.
MCX Fundamentals

SPICES
Moderate firm trend persisted for Jeer last week as profit booking towards
end of the week brought some dips to the rising prices. Rising domestic and
export demand with falling arrivals are likely to support prices. Turmeric trade
slight firm last week but strong resistance was seen at 7000 mark. Pick up in
demand at these lower levels are likely to support prices as arrivals slow
down. Normal Monsoon reports are likely to remain favorable for the crop
sowing from June and that could limit the uptrend.
NCDEX Fundamentals
OIL & OILSEEDS
Soya oil was able to stabilize at lower levels. Weakness in soybean kept soya
oil during greater part of the day but as Malaysian palm oil made a gradually
pull back and positive tone persisted in crude oil soya oil managed to stay
above support levels till close of the session. Nevertheless bullish cues from
the latest USDA report released last to last Tuesday are likely to shall keep
soybean supported at lower levels. The US soybean ending stocks were low-
ered from 555 million bushels last month to 550. Analysts were expecting
an increase up to 574 on this report due to the March 29 Grain Stocks.
GUAR COMPLEX
High stocks, lack of strong export demand amidst reports of good Monsoon
could keep uptrend limited for now. Recovery in crude oil prices could
brighten export prospects keeping long term trend bullish. Production is ex-
pected to lower versus last year while Guar gum demand remains better than
previous years and likely to remain better in coming months.
OTHERS
As per the charts May RM seed has a strong support at 3825-3830 for the
current week In next 2-4 weeks the May contract might have to test 3750-
3775 levels before consolidating and preparing for a reversal. For the current
session, May contract is likely to show tendency to move lower after a mod-
est price rise. Firmness in International markets amidst lower crop reports
from India kept trend firm for Cotton / Kapas and are likely to support senti-
ments this week too. Lower US and global ending stocks as per latest USDA
reports amidst crop damage reports in Indian markets are supporting prices .

Last week Zinc Apr Futures started the week on positive note and continued the same for the entire week. It made a
high of 216.50 during the week and closed at 214.65 with the overall gain of 5.90% on weekly basis. Technically for this
week, we can expect correction from higher level as it sustaining on overbought zone. For this week, if it breaks the
level of 214.45, then it can test the level of 212.45 during the week. One can make sell position in it by maintaining a SL
215.55
Calls of the Week (MCX)
WEEKLY STRATEGY
PERTICULAR DETAILS
CRUDE OIL
ZINC
From last couple of trading weeks oil market is trading with positive. It made a high of 4589 during the week and
closed at 4531 with the overall gain of 2.79% on weekly basis. Technically for this week, we can expect that market can
continue its main bullish trend as on its daily and 4 hourly chart market is forming bullish flag pattern indicating the
positive trend in coming sessions. For this week, if it breaks the level of 4600, then it can test the level of 4750 during
the week. One can make sell position in it by maintaining a SL 4530
WEEKLY STRATEGY
PERTICULAR DETAILS
Action Buy
Entry Range Above 4600
Target 4750.00
SL 4530.00
Action Sell
Entry Range Below 214.45
Target 212.45
SL 215.55

The Cotton seed oil cake is in perfect down trade for short term to midterm basis supported by the 200 days moving
average. The oscillator is showing sell signal for short term to mid term basis. For this week we can expect that market
can continue its main bearish trend. It is having important support level at 1250 while resistance place at the level of
1425.
Calls of the Week (NCDEX)
WEEKLY STRATEGY
PERTICULAR DETAILS
DHANIYA
COTTONSEED OILCAKE
Last week DHANIYA May Futures started the week on negative note and made a low of 5015. It sustaining above the
major psychological support level at 5000. Technically for this week, we can expect further downside movement in it
as it sustaining near to major support level of 5000 with the negative RSI. For this week, if it breaks the level of 5050,
then it can test the level of 4905 during the week. One can make sell position in it by maintaining a SL 5111.
WEEKLY STRATEGY
PERTICULAR DETAILS
Action Sell
Entry Range Below 5050
Target 4905
SL 5111
Action Sell
Entry Range Below 1298
Target 1203
SL 1361

Calls of the Week (FOREX)
WEEKLY STRATEGY
PERTICULAR DETAILS
USDINR
GBPINR
WEEKLY STRATEGY
PERTICULAR DETAILS
Last week USDINR Apr Futures started the week on positive note and continued the same for the entire week. It made
a high of 66.4125 during the week and closed at 66.3575 with the overall gain of 1.26% on weekly basis. Technically
for this week, we can expect further upside movement in it as it sustaining near to major resistance level of 66.5975
with the positive RSI. For this week, if it breaks the level of 66.5200, then it can test the level of 66.9900 during the
week. One can make buy position in it by maintaining a SL 66.1900
Last week GBPINR May Futures started the week on negative note and made a high of 94.8800. However till the end of
the week, all of its earlier gains were erased and it closed in negative on weekly basis. Technically for this week, we
can expect further downside movement in it as it sustaining near to major support level of 93.1700 with the negative
RSI. For this week, if it breaks the level of 93.1700, then it can test the level of 92.5700 during the week. One can make
sell position in it by maintaining a SL 93.5700
Action Buy
Entry Range Above 66.5200
Target 66.9900
SL 66.1900
Action Sell
Entry Range Below 93.1700
Target 92.5700
SL 93.5700

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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|
(a) 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,
(फ) 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 |
(a) 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 24 April 2018 Ways2Capital

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Commodity Research Report 24 April 2018 Ways2Capital