Gold futures fell nearly one percent in American trade away from August 5, 2014. highs for the second session even as the dollar index plumbed December 17, 2014

1. Tuesday, January 30, 2018
HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

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MCX Market Wrap-up
Commodity Contract
Previous
Close
Open High Low Close
Change in
Price (in %)
Change in OI
(in %)
Change in
Volume (in %)
Aluminum 31-Jan-18 141.75 141.9 144.05 140.55 141.6 -0.11% -14.39% -37.40%
Copper 28-Feb-18 450.45 452.3 457.9 439.4 451.85 0.31% -11.40% -15.26%
Crude Oil 16-Feb-18 4042 4063 4229 4033 4190 3.66% -0.97% 163.50%
Gold 5-Feb-18 29755 29699 30464 29699 30361 2.04% 10.61% 29.08%
Lead 31-Jan-18 165.4 165.4 168.75 164 164.25 -0.70% 16.12% 8.26%
Natural Gas 23-Feb-18 189.5 192 201.8 187 200.1 5.59% -13.68% 530.47%
Nickel 31-Jan-18 807.8 811.4 880.8 801.8 868.2 7.48% 20.49% 45.25%
Silver 5-Mar-18 38969 38883 40180 38402 39960 2.54% -11.15% 88.10%
Zinc 31-Jan-18 219 223 228.5 223 227.85 4.04% 3.62% -21.88%
NCDEX Market Wrap-up
Commodity Contract
Previous
Close
Open High Low Close
Change in
Price (in %)
Change in
OI (in %)
Change in
Volume (in %)
Castor Seed 20-Feb-18 4051 4050 4176 4022 4121 1.73% 417.59% -29.85%
Chana 20-Mar-18 3677 3664 3810 3654 3721 1.20% 415.98% -19.65%
Dhaniya 20-Apr-18 5704 5738 6021 5713 5935 4.05% -8.48% -43.46%
Cottonseed Oil
Cake
20-Feb-18 1748.5 1740 1750 1664.5 1672 -4.38% 523.35% 67.94%
Guargum5 20-Feb-18 9219 9295 10085 9272 10035 8.85% 372.53% 60.33%
Guarseed10 20-Feb-18 4276.5 4305 4650 4296.5 4635.5 8.39% 11.39% 62.96%
Jeera 20-Mar-18 16560 16600 16655 16335 16440 -0.72% 0.50% -25.59%
Kapas 30-Apr-18 1003.5 1018.5 1018.5 965 974 -2.94% 24.66% -8.91%
RMseed 20-Apr-18 4036 4044 4145 4038 4123 2.16% -3.77% 86.45%
Ref Soya Oil 20-Feb-18 734.25 735.8 749.8 735 746.3 1.64% 5.79% 78.02%
Soyabean 20-Feb-18 3365 3380 3678 3380 3673 9.15% -2.33% 67.19%
Turmeric 20-Apr-18 7330 7322 7452 7230 7354 0.33% -64.72% 148.33%
Mentha Oil 31-Jan-18 1543.3 1532 1544 1473 1505.2 -2.47% 11.09% -38.14%
Currency Market Wrap-up
Currency Pair Contract Previous Close Open High Low Close
Change in Price
(in %)
USDINR 26-Feb-18 63.8925 64.1050 64.2475 63.6500 63.7525 -0.22%
GBPINR 26-Feb-18 88.8175 89.0500 91.2800 88.9450 91.0025 2.46%
EURINR 26-Feb-18 78.385 78.5750 79.4400 78.4300 79.2525 1.11%
JPYINR 26-Feb-18 57.7175 58.0000 58.6225 57.6500 58.5200 1.39%
Continued……

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International Market Wrap-up
Commodity Exchange
Previous
Close
Open High Low Close
Change in Price
(in %)
Aluminum LME 2220.75 2218.5 2267.75 2707 2256.5 1.61%
Copper COMEX 3.18 3.188 3.216 3.103 3.183 0.09%
Crude Oil NYMEX 63.57 63.61 66.66 63.17 66.14 4.04%
Gold COMEX 1331.1 1334 1365.4 1328 1352.1 1.58%
Lead LME 2586.75 2586.5 2654 2577.25 2605.5 0.72%
Natural Gas NYMEX 3.184 3.252 3.628 3.143 3.505 10.08%
Nickel LME 12687.5 13685 13910 12582.5 13632.5 7.45%
Silver COMEX 17.025 17.06 17.705 16.74 17.385 2.11%
Zinc LME 3407 3407.5 3484 3381.5 3481.75 2.19%

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LME Inventory Update
Commodity Closing (As on 26th Jan 18) in
Tonnes
Closing (As on 19th Jan 17) in
Tonnes
% Change
Copper 299600 205475 45.81%
Nickel 362058 362532 -0.13%
Lead 138050 139650 -1.15%
Zinc 179450 180025 -0.32%
Aluminium 1086575 1090875 -0.39%
Continued…….

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Upcoming Economic Events Calender
Time Currency Event Forecast Previous
Monday, January 29, 2018
19:00 USD Core PCE Price Index (YoY) (Dec) 1.50% 1.50%
19:00 USD Core PCE Price Index (MoM) (Dec) 0.20% 0.10%
19:00 USD Personal Spending (MoM) (Dec) 0.50% 0.60%
Tuesday, January 30, 2018
19:30 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Nov) 6.30% 6.40%
20:30 USD CB Consumer Confidence (Jan) 123 122.1
Tuesday, January 30, 2018
6:30 CNY Manufacturing PMI (Jan) 51.5 51.6
6:30 CNY Non-Manufacturing PMI (Jan) 55 55
7:30 USD U.S. President Trump Speaks
18:45 USD ADP Nonfarm Employment Change (Jan) 191K 250K
19:00 USD Employment Cost Index (QoQ) (Q4) 0.50% 0.70%
20:30 USD Pending Home Sales (MoM) (Dec) 0.50% 0.20%
21:00 USD Crude Oil Inventories -1.600M -1.071M
Thursday, February 1, 2018
0:30 USD FOMC Statement
0:30 USD Fed Interest Rate Decision 1.50% 1.50%
7:15 CNY Caixin Manufacturing PMI (Jan) 51.3 51.5
15:00 GBP Manufacturing PMI (Jan) 56.5 56.3
19:00 USD Initial Jobless Claims 236K 233K
19:00 USD Nonfarm Productivity (QoQ) (Q4) 1.20% 3.00%
20:15 USD Manufacturing PMI (Jan) 55.5
20:30 USD ISM Manufacturing Employment (Jan) 57 58.1
Friday, February 2, 2018
15:00 GBP Construction PMI (Jan) 52 52.2
19:00 USD Average Hourly Earnings (MoM) (Jan) 0.30% 0.30%
19:00 USD Nonfarm Payrolls (Jan) 184K 148K
19:00 USD Private Nonfarm Payrolls (Jan) 178K 146K
19:00 USD Unemployment Rate (Jan) 4.10% 4.10%
20:30 USD Factory Orders (MoM) (Dec) 1.40% 1.30%
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3
USDINR 26-Feb-18 65.1000 64.5000 64.1500 63.9000 63.5500 63.3000 62.7000
GBPINR 26-Feb-18 95.0500 92.7500 91.8500 90.4000 89.5000 88.0500 85.7500
EURINR 26-Feb-18 81.0500 80.0500 79.6500 79.0500 78.6500 78.0500 77.0500
JPYINR 26-Feb-18 60.2000 59.2000 58.8500 58.2500 57.9000 57.3000 56.3000

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MCX Weekly Pivots
Commodity Contract R3 R2 R1 PP S1 S2 S3
Aluminium 31-Jan-18 149.05 145.55 143.55 142.05 140.05 138.55 135.05
Copper 28-Feb-18 486.7 468.2 460 449.7 441.5 431.20 412.70
Crude Oil 16-Feb-18 4543 4347 4268 4151 4072 3955 3759
Gold 5-Feb-18 31705 30940 30650 30175 29885 29410 28645
Lead 31-Jan-18 175.15 170.4 167.3 165.65 162.55 160.90 156.15
Natural Gas 23-Feb-18 225.9 211.1 205.6 196.3 190.8 181.50 166.70
Nickel 31-Jan-18 1008 929 899 850 820 771 692
Silver 5-Mar-18 43070 41292 40626 39514 38848 37736 35958
Zinc 31-Jan-18 237.45 231.95 229.9 226.45 224.4 220.95 215.45
NCDEX Weekly Pivots
Commodity Contract R3 R2 R1 PP S1 S2 S3
Castor Seed 20-Feb-18 4414 4260 4191 4106 4037 3952 3798
Chana 20-Mar-18 4040 3884 3803 3728 3647 3572 3416
Dhaniya 20-Apr-18 6506 6198 6066 5890 5758 5582 5274
Cotton Seed
Oilcake
20-Feb-18 1867 1781 1727 1696 1641 1610 1525
Guargum5 20-Feb-18 11423 10610 10323 9797 9510 8984 8171
Guarseed10 20-Feb-18 5234 4881 4758 4527 4405 4174 3820
Jeera 20-Mar-18 17117 16797 16618 16477 16298 16157 15837
Kapas 30-Apr-18 1093 1039 1007 986 953 932 879
RMseed 20-Apr-18 4316 4209 4166 4102 4059 3995 3888
Ref Soya Oil 20-Feb-18 773 759 752 744 738 729 714
Soyabean 20-Feb-18 4173 3875 3774 3577 3476 3279 2981
Turmeric 20-Apr-18 7789 7567 7461 7345 7239 7123 6901
Mentha Oil 31-Jan-18 1649 1578 1542 1507 1471 1436 1365

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BULLION
Gold futures fell nearly one percent in American trade away from August 5, 2014
highs for the second session even as the dollar index plumbed December 17, 2014
lows following earlier data from the US the world's largest economy. The dollar index
plumbed 38-month lows after the US government closed for three days before
Congress reached a stopgap agreement to fund the government until February 8,
with President Donald Trump singing it into law and also imposing heavy 20% to 50%
trade tariffs on solar panels and washing machines. This was considered one step in a
larger process of imposing curbs on trade between the US and the world, which was
protested by money multinational companies.
BASE METALS
Three-month copper prices ($7,096 per tonne) are up the most with a 0.7% gain while
nickel zinc and lead prices are up by around 0.3% and aluminium and tin prices are
little changed.On the Shanghai Futures Exchange today base metals prices are for the
most part stronger with nickel prices leading the way with a gain of 1.8%, followed by
tin prices that are up by 1.5%, zinc prices that are up by 0.7% and copper prices that
are up by 0.2% at 53,840 Yuan ($8,410) per tonne. Aluminium and lead prices are
down by 0.4% and 0.2% respectively. Spot copper prices in Changeling are up by 0.7%
at 53,370-53,470 Yuan per tonne and the LME/Shanghai copper arbitrage ratio has
firmed to 7.59, up from 7.53 on Friday.
ENERGY
Brent futures rose one percent above $66 a barrel while Brent settled above $70 near
December 2014 highs as the dollar index plumbed 38-month lows following earlier
data from the US the world's largest energy consumer. Earlier, Russian energy
minister Alexander Novak said that a surge in crude prices to near $70 won't stop
Russia from complying with the global deal to cut output by 1.8 million bpd until the
end of 2018 while noting that Russia looks to the demand-supply balance in the first
place before studying prices.
Natural gas futures fell nearly two percent in American trade as the dollar bounced
off December 17, 2014 lows following earlier data from the US the world's largest
energy consumer including the EIA report that showed another inventory draw down
for the sixth straight week.

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SPICES
Trend remained weak for Jeer as low demand in mandis amidst prospects of
better production and arrivals of the new crop in coming weekskept pressure on
prices, even as quality concern reports too have been there.Even as sowing is
expected to be higher with shifting of other crop towards Jeer due to the high
prevailing rates, a delayed sowing in Gujarat (due to warmer climate) may have
some adverse impact on the crop productivity and its arrivals. Exports from
China have reportedly been on the rise.
Moderate bearish trend persisted for Turmeric as lack of strong demand in
mandis amidst new crop arrivals kept pressure on prices. Arrivals of new crop in
some areas in TN amidst prospects of rising arrivals from other regions in
coming weeks prevented recovery. Traders waited for new crop arrivals before
initiating fresh demand.
OIL & OILSEEDS
Soy bean kept trading firm on strong demand in mandis amidst firmness in
International markets. Outlook for this month shall remain bullish. India's
harvest season subdued export demand for soymeal and estimations of
sufficient amount of inventory lying with stockists had been capping the
upside just few months, back, but as parity in exporting Indian soymeal has re-
established and harvest season nears completion, any sharp fall is ruled out.
An overall weak sentiment prevailed for Mentha as low trading activities
ahead of the Festive holiday weekend kept pressure on the prices. Short term
trend looks slight weak with prices likely to find immediate support at 1500
levels.
GUAR COMPLEX
Guargum inched towards the 10,000 psychological mark as traders expect the
exports to start rising at these levels with the recent firmness in Crude oil
prices.Lowering inventories will be another bullish factor. The new crop arrivals
shall drop further thereby offering further support. Increased exports of guar
gum during last year have been encouraging due to increasing rig count in the
US.
OTHERS
RMSeed prices found strong immediate support near the 4000 mark as prices
recovered moderately from these rates. Going forward a comfortable supply
situation shall limit the upside movement. But lower support levels ad strength
in soybean shall prompt buyers to enter at every fall now since 3960-80 is a
strong support for the April contract.

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ALUMINIUM
Last week Aluminium jan futures started the week on sideways to negative note but found enough support at the level
of 140.50. It made a high of 144.05 during the week and closed 141.60 with the overall loss of 0.11% loss on weekly
basis. Technically for this week, we can expect positive trend for short term to mid-term basis. Traders can make the
positive in Feb contract for weekly basis. Above the level of 145 it can test the level of 147 and then 148 during the
week. One can make buy position in it by maintaining a SL of 143.70.
WEEKLY STRATEGY
Particular Details
ACTION BUY
ENTRY PRICE ABOVE 145
TARGET 147
STOP LOSS 143.70
NATURAL GAS
Natural Gas prices broken its important psychological level of 200 on upside but unable to sustain above it and found
enough resistance of 202 and settled below the level of 200. Omn its hourly chart market is forming H&S formation and
it can give breakout below the level of 194. On the other side if prices sustain above the level of 200 it can test the level
of 205 and then 207. Traders can go with the sell position below the level of 194 for the target of 186
WEEKLY STRATEGY
Particular Details
ACTION SELL
ENTRY PRICE BELOW 194
TARGET 186
STOP LOSS
200

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Calthe Week (NCDEX)
DANIYA
From the last couple of weeks Dhaniya trading with positive bias and recently market has broken its important
resistance level of 6000 and if market sustain above it we can see the positive trend for short term to mid term basis.
The oscillator is showing buy signal for short term basis. The current position is buy. Immediate resistance available at
6020 above this we can expect the target of 6150 with Stop loss of 5965
WEEKLY STRATEGY
Particular Details
ACTION
BUY
ENTRY PRICE ABOVE 6021
TARGET 6149
STOP LOSS 5965
CHANA
The secondary trend of the Chana is bullish on chart and recently market is facing support at the level of 3800 and
getting bounce back from lower level. From couple of trading days Chana is accumulating volume with positive
sentiment. The oscillator is showing buy signal for short term to mid-term basis. Important support level at 3636 and
near term resistance 3810 above the resistance level we can expect some positive movement.
WEEKLY STRATEGY
Particular Details
ACTION Sell
ENTRY PRICE Below 3255
TARGET
3150
STOP LOSS 3334

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Calls of e Week (FOREX)
USDINR
Last week USDINR Feb futures started the week on negative note and continued the same for the entire week. It made a
low of 63.6500 during the week and closed 63.7525 with the overall loss of 0.53% on weekly basis. Technically for this
week, we can further expect bearish movement in it and below the level of 63.5800, it can test the level of 63.0525
during the week. One can make sell position in it by maintaining a SL of 63.9325.
WEEKLY STRATEGY
Particular Details
ACTION SELL
ENTRY PRICE
ABOVE
63.5800
TARGET 63.0525
STOP LOSS 63.9325
GBPINR
Last week GBPINR Feb futures started the week on positive note and continued the same for the entire week. It made a
high of 91.2800 during the week and closed 91.0025 with the overall gain of 2.07% gain on weekly basis. Technically for
this week, we can further expect profit booking in it from the higher levels and below the level of 90.1700, it can test the
level of 89.5725 during the week. One can make sell position in it by maintaining a SL of 90.6125.
WEEKLY STRATEGY
Particular Details
ACTION SELL
ENTRY PRICE BELOW
90.1700
TARGET 89.5725
STOP LOSS 90.6125

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गमा है।

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port 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 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 भार्के ट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटेड मा उसर्के सहमोगी मा उनर्के कर्कसी बी तत्र्कार रयश्तेदाय र्की ववषम र्कं ऩनी भें र्कोई ववत्तीम रुचि
नह ं है औय न ह इस तयह र्की ववत्तीम हहत र्की प्रर्कृ 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,
(फ) हाई ब्रो भार्के ट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटेड मा उसर्के सहमोगी मा उनर्के कर्कसी बी तत्र्कार रयश्तेदाय र्की ववषम र्कं ऩनी र्की प्रनतबूनतमों भें एर्क
प्रनतशत मा उससे अचधर्क र्के वास्तववर्क / पामदेभंद स्वालभत्व नह ं 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 भार्के ट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटेड मा उसर्के सहमोचगमों र्को अनुसंधान रयऩोटट र्के प्रर्काशन र्के सभम मा सावटजननर्क रूऩ से उऩस्स्थत
होने र्के सभम र्कोई अन्म बौनतर्क संघषट नह ं है|
DISCLOSURE IN TERMS OF COMPENSATION:
ऺनतऩूनताके 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:
सावाजननकप्रकटन 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 रयऩोटट र्के ववतयण र्की नतचथ से ऩूवट फायह भह नों र्के दौयान ववषम र्कं ऩनी अफ मा र्कबी बी ग्राहर्क नह ं यह 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 भार्के ट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटेड मा उसर्के सहमोगीमों ने ववषम र्कं ऩनी र्के अचधर्काय , ननदेशर्क मा र्कभटिाय र्के रूऩ भें र्कबी बी र्काभ
नह ं कर्कमा है
(d) High Brow Market Research Pvt. Ltd. has never been engaged in market making activity for the subject company.
(द) हाई ब्रो भार्के ट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटेड ववषम र्कं ऩनी र्के लरए र्कबी बी ववऩणन (भार्के ट भेकर्कं ग) गनतववचध भें शालभर नह ं यहा है ।