Gold was up 0.55 percent at $1,273.61 an ounce, after rising to $1.275.98, the highest since Dec. 5.Bullion was on track to see its strongest weekly performance since mid-October. U.S. growth prospects dimmed on Friday as data showed spending outpaced income in November and the Federal Reserve's

2. `
✍ MCX DAILY LEVELS
DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 29-DEC-2017 151.10 146.90 142.70 141.10 138.90 137.10 134.50 130.30 123.10
COPPER 28- FEB-2018 477.50 471.00 465.0 462 458 455.80 451.50 445.10 438.60
CRUDE OIL 18-DEC-2017 3835 3800 3765 3750 3730 3716 3695 3660 3625
GOLD 05-FEB -2018 29120 28996 28790 28720 28590 28530 28390 28190 27990
LEAD 29-DEC-2017 165.80 163.60 161.40 159.90 159.10 157.70 156.80 154.60 152.40
NATURAL GAS 26-DEC-2017 184.10 178.90 173.90 171.90 168.80 166.80 163.60 158.60 153.40
NICKEL 29-DEC-2017 818 802 786 778 770 762 754 739 723
SILVER 05-MAR-2018 39640 39036 38428 38200 37820 37580 37210 36600 35990
ZINC 29-DEC-2017 218.80 215.40 211.90 210.70 208.50 207.20 205.05 201.60 198.10
Tuesday, 26 December 2017

3. ✍ MCX WEEKLY LEVELS
WEEKLY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 29-DEC-2017 162.40 154 145.60 142.60 137.20 134.20 128.80 120.40 112
COPPER 28- FEB-2018 504.30 487.80 471.20 465.60 454.70 449 438.10 421.60 405
CRUDE OIL 18-DEC-2017 3977 3889 3801 3765 3713 3681 3625 3537 3449
GOLD 05-FEB -2018 29660 29286 28911 28780 28540 28407 28161 27786 27411
LEAD 29-DEC-2017 181.20 174.30 167.50 163.0 160.60 156.10 153.80 146.90 140.10
NATURAL GAS 26-DEC-2017 220.10 204.10 187.90 178.40 171.80 162.80 155.70 139.60 123.50
NICKEL 29-DEC-2017 889 843 802 786 760 746 722 681 641
SILVER 05-MAR-2018 40100 39320 38544 38230 37760 37460 36980 36198 35410
ZINC 29-DEC-2017 227.60 220.90 214.10 211.80 207.40 205.50 200.60 193.90 187.1

4. ✍ FOREX DAILY LEVELS
DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 19-JAN-18 66.922
5
66.100
0
65.300
0
64.800
0
64.500
0
64.000
0
63.700
0
62.900
0
62.0775
EURINR 19-JAN-18 78.517
5
77.800
0
77.050
0
76.700
0
76.350
0
76.000
0
75.650
0
74.900
0
74.1825
GBPINR 19-JAN-18 86.780
0
86.550
0
86.350
0
86.250
0
86.150
0
86.050
0
85.950
0
85.750
0
85.5200
JPYINR 19-JAN-18 57.177
5
57.100
0
57.000
0
56.950
0
56.900
0
56.900
0
56.800
0
56.700
0
56.6225
✍ FOREX WEEKLY LEVELS
WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 19-JAN-18 64.445
0
64.400
0
64.300
0
64.300
0
64.250
0
64.200
0
64.200
0
64.100
0
64.055
0
EURINR 19-JAN-18 76.725
0
76.600
0
76.500
0
76.400
0
76.350
0
76.300
0
76.250
0
76.100
0
75.975
0
GBPINR 19-JAN-18 89.407
5
88.400
0
87.400
0
86.800
0
86.400
0
85.800
0
85.400
0
84.400
0
83.392
5
JPYINR 19-JAN-18 60.477
5
59.400
0
58.300
0
57.600
0
57.200
0
56.550
0
56.100
0
55.000
0
53.922
5

5. MCX - WEEKLY NEWS LETTERS
✍ BULLION
Gold was up 0.55 percent at $1,273.61 an ounce, after rising to $1.275.98, the highest since Dec. 5.
Bullion was on track to see its strongest weekly performance since mid-October. U.S. growth prospects
dimmed on Friday as data showed spending outpaced income in November and the Federal Reserve's
preferred inflation measure -- the personal consumption expenditures price index that excludes food and
energy -- rose by just 0.1 percent in November. U.S. data showing solid home sales but a fall in mortgage
applications pushed the dollar to a two-week low. Besides, optimism on the U.S. tax overhaul would help
boost growth and as economic data improves also had its fair share in price moves.
Spot silver prices rose 1.9 percent to close at $16.4 per ounce on account of rise in copper prices and rise
in gold prices as well. On the MCX, silver prices rose 1.98 percent to close at Rs.38410 per kg.
✍ BASE METAL
LME Copper prices surged by 3.5 percent last week as stable economic numbers from China calmed fears
of a sharp slowdown in the mainland nation. Along with this, Xi Jinping vowed to push ahead with a
clean-up of the financial sector. Further, weaker DX continued to support dollar denominated metals since
global investors have already factored in the passage of US tax bill. US Senate approved the final version
of the US tax code in more than 30 years. Besides, latest data from the International Copper Study Group
(ICSG) showed stagnant refined copper supplies, in combination with strong Chinese apparent usage in
September, pushed deficit to 181,000 t from an estimated 160,000 t for the first seven months of the year.
Base metals continued their positive momentum last week as stable Chinese economic data coupled with
weaker DX supported an upside. MCX base metals apart from Lead traded higher in line with
international trends.

6. ✍ ENERGY
WTI and Brent oil prices traded positive by 1.6 and 2.5 percent as OPEC started working on plans for an
exit strategy from its deal to cut crude supplies, fuelling hopes it would not end supply cuts abruptly. U.S.
crude stocks fell by 6.5 million barrels, more than expected, in the week to Dec. 15, while gasoline stocks
rose 1.2 million barrels. Inventories have been steadily declining in the United States due to strong export
demand and efforts by major oil producers to restrict supply. On the other side, rising U.S. output and the
expected January reopening of the Forties pipeline in the North Sea could result in to headwinds for oil
prices to rise. Market liquidity was drying up on Friday as traders closed positions ahead of the upcoming
Christmas and New Year breaks.
MCX TECHNICAL VIEW
✍ CRUDE OIL
For the last three weeks, crude oil prices have been consolidating in a narrow range and in the previous
week it dipped till the low of 3642 and recouped higher and ended almost near the week high of 3737.
Although the price is recovering from the low it is till trading below the trend line resistance and it is
failing to make convincing close above the January high of 3780. Going forward, if the prices manage to
close above 3780 will provide fresh bull rally till 4000 and higher. The momentum indicator MACD is
still on the positive note and the RSI reclaimed higher from 62 to 64. For the week, 3780 mark holds as a
key break out level and convincing break above that will trigger a fresh rally. Thus we advise buying
above 3780 mark for upside targets of 3900 then 3980.
BUY CRUDE OIL JAN ABOVE 3790 TGT 3900 SL 3740

7. ✍ ZINC
During the last week, Zinc January contract prices extended its gains after opening at 205.70 and ended at
209.55 mark gaining 2.02%. Zinc price is reverting from the support of 199 and has penetrated the
immediate trend line resistance providing a bullish break out of an down trend channel. According to the
pattern, the upside targets are projected till 220 levels and surpass above that will extend the commodity
till the trend channel resistance in the long run. The momentum indicator inched slightly higher and while
209.10 then a fresh rally can be seen till 216 then 218 levels. Therefore, we advise buying above 210 for
given targets.
SELL ZINC DEC ABOVE 210 TGT 214 SL 208

8. ✍ NCDEX DAILY LEVELS
DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 19-JAN-2018 738.70 731.40 724.10 721.20 716.90 713.90 709.60 702.20 694.90
SYBEANIDR 19-JAN-2018 3164 3133 3102 3086 3070 3055 3040 3009 2978
RMSEED 19-JAN-2018 4271 4179 4087 4050 3995 3958 3903 3811 3719
JEERAUNJHA 19-JAN-2018 22400 22055 21710 21510 213520 21165 21020 20675 20330
GUARSEED10 19-JAN-2018 4210 4151 4092 4055 4033 3999 3974 3915 3856
TMC 20-APR-2018 8396 8186 7980 7879 7766 7669 7556 7346 7136
✍ NCDEX WEEKLY LEVELS
WEEKLY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 19-JAN-2018 769.4
0
752.90 736.40 727.40 719.90 710.90 703.40 686.90 670.40
SYBEANIDR 19-JAN-2018 3192 3132 3101 3070 3041 3041 3012 2952 2892
RMSEED 19-JAN-2018 4287 4189 4091 4052 3989 3954 3895 3797 3699
JEERAUNJHA 19-JAN-2018 2368
5
22955 22225 21770 21485 21040 20765 20035 19305
GUARSEED10 19-JAN-2018 4210 4151 4092 4056 4033 3999 3974 3915 3856
TMC 20-APR-2018 8988 8556 8124 7950 7692 7520 7260 6828 6396

9. NCDEX - WEEKLY MARKET REVIEW
✍ SPICE COMPLEX
NCDEX Jan Jeera falls on profit booking on Friday and prices moving sideways and consolidates near
21,300 levels on anticipation of good physical and export demand. For the December contract, NCDEX
reported record deliveries allocations of 4,896 tonnes on Exchange platform. Moreover, good progress of
jeera sowing in Gujarat also pressurizes prices. In Gujarat, Jeera acreage in Gujarat up by 35% to 3.5 lakh
hectares as on 18th Dec 2017. Last year, it was 2.6 lakh ha at that same time while the normal acreage is
2.8 lakh ha. As per government data, Jeera exports during first six month of FY 2017/18 (Apr-Sep) is
77,827 tonnes, up 8.4% compared to last year exports volume for the same period. India's jeera exports in
Sep increase 110% on year to 14,742 tn. Jeera arrivals for the first 15 days of Dec down by 50% to 1,985
tonnes on year due to tight supplies and lower stocks.
Turmeric Apr contract closed higher on Friday due to fresh buying initiated by market participants due to
firm physical demand and expectation of improved up-country demand from the new season. The supplies
have improved during last one month due to government auctions and lower exports data. The export of
turmeric is down by 15.2% to 56,900 tonnes for the first 6 month of FY 2017/18 compared to last years’
exports. The arrivals have been higher during first 15 days in December this year to 15,021 tonnes
compared to 7,877 tonnes last year same month according to Agmarknet data.
✍ OILSEED COMPLEX
NCDEX Soybean futures fell due to profit booking at higher levels on Friday. However, the prices have
improved last week due to firm demand from the physical market as supplies have been diminishing. The
arrivals have been lower during first 25 days of December compared to last year. As per, Agmarknet, 6.22
lakh tonnes of soybean arrived in physical market in December (1-25) against close to 7.6 lt last year for
the same time period. SOPA increased its meal exports estimates for 2017/18 due to increased export
incentives by 2% to 7% by government for all meals. Soymeal exports from the country in 2017-18 (Oct-
Sep) are seen rising to around 20 lakh tn from previous estimate of 15 lakh tn due to a recent rise in export
incentives.
Mustard Jan futures jump higher on Friday due to short covering by market participants on anticipation of
increase in physical demand in coming month. Currently the prices have been moving according to the
winter demand but reports of lower sowing acreage this year is supporting prices. The acreage of mustard
was down 8% till last week at 62.8 lakh ha, as per latest rabi sowing report by the government. Rajasthan
is the largest mustard growing state but the sowing pace is slower than last year at 20.6 lakh ha Vs 27.8
lakh ha.

10. ✍ OTHER COMPLEX
Chana Jan futures closed higher on Friday supported by government withdrew customs duty exemption on
chana and imposed 30% duty with immediate effect. Reports of higher stocks and improved sowing
progress have pressurized prices during the last two months. As per government data, India imported
about 4.78 lakh tonnes of chana during Apr-Sep, up by 430% compared the last year imports. As per
government sowing data, area under the chana crop across the country was up 13.7% on year at 96.23 lakh
ha as on last week. Area under Chana exceeds 90 lakh ha for the second consecutive year. Last year area
was close to 99 lakh ha. MP, Maharashtra, Rajasthan and Karnataka exceed normal sowing area this
season. The NCDEX have imposed a special margin of 5% on the sell side to support falling prices.
MCX Dec Cotton closed lower on profit booking after it touched fresh highs for the season on the prior
session due to lower than expected arrivals in the domestic market. There is expectation of fall in domestic
output due to pink bollworm attacks and fluctuating weather conditions during cotton sowing season in
major cotton sowing states. Pakistan’s decision to permit import of Indian cotton has provided the latest
trigger for the price rise. Along with Pakistan, buyers from China and Bangladesh too have finalized deals
for Indian cotton. ICE cotton settled lower on Friday, but benchmark prices held close to seven-month
highs as sustained speculative demand helped the March contract rise for a ninth straight week. The CFTC
Commitment of Traders report showed cotton futures and options spec traders adding 8,165 contracts to
their net long position. That 97,675 contracts figure was the largest reported net long position since mid-
May. The USDA reported net upland sales of 326,500 running bales for 2017/2018 for the week ending
Dec. 14, which was up 26 % from the previous week and 21% from the prior 4-week average.
NCDEX TECHNICAL VIEW
✍ SOYABEAN
Last week, Soybean January contract price opened slightly higher at 3024 and rose till the high of 3089
and finally settled at 3070. On the weekly chart prices has penetrated long term trend line resistance and
has ended just above that. Going ahead, prices are likely to remain higher and can head towards the
resistance of 3160 then 3280 levels. The momentum indicator MACD and stochastic have made a positive
cross over on weekly chart and the RSI also inching higher from 52 to 56 is indicating bullish signs. For
the week, the soybean prices are likely to remain higher and recommend to buy above 3103 for given
upside targets of 3160 the 3200 levels.

11. BUY SOYABEAN JAN ABOVE 3105 TGT 3190 SL 3060
✍ RMSEED
✍ RMSEED
Last week, RMSEED January contract price opened slightly higher at 4020 and rose till the high of 4038
and found resistance level at and finally settled at 3998. On the 4 hourly chart prices forming inverted
H&S Pattern indicating short term positive movement. Going ahead, prices are likely to remain higher and
can head towards the resistance of 4100 then 4140 levels. The momentum indicator MACD and stochastic
have made a positive cross over on weekly chart and the. RSI also inching higher from 52 to 56 is
indicating bullish signs. For the week, the RM SEED prices are likely to remain higher and recommend to
buy above 4040 for given upside targets of 4100 the 4140 levels.
BUY RMSEED JAN ABOVE 4040 TGT 4140 SL 3990

12. LEGAL DISCLAIMER
This Document has been prepared by Ways2Capital (A Division of High Brow Market Research
Investment Advisor Pvt Ltd). The information, analysis and estimates contained herein are based on
Ways2Capital Equity/Commodities Research assessment and have been obtained from sources believed to
be reliable. This document is meant for the use of the intended recipient only. This document, at best,
represents Ways2Capital Equity/Commodities Research opinion and is meant for general information
only. Ways2Capital Equity/Commodities Research, its directors, officers or employees shall not in any
way to be responsible for the contents stated herein. Ways2Capital Equity/Commodities Research
expressly disclaims any and all liabilities that may arise from information, errors or omissions in this
connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities
or commodities.
All information, levels & recommendations provided above are given on the basis of technical &
fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability for
errors of opinion. People surfing through the website have right to opt the product services of their own
choices.
Any investment in 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.

13. DISCLOSURE
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.
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.
DISCLOSURE APPENDIX:
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.
DISCLOSURE IN TERMS OF CONFLICT OF INTEREST:
(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;
(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,
(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;

14. DISCLOSURE IN TERMS OF COMPENSATION:
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.
DISCLOSURE IN TERMS OF PUBLIC APPEARANCE:
(a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from the
subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of
distribution of the research report.
(c) High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or
employee of the subject company;
(d) High Brow Market Research Pvt. Ltd. has never been engaged in market making activity for the
subject company.