he India Meteorological Department (IMD) said on Sunday that the onset of southwest monsoon over the Kerala coast this year could be delayed by six days and that the rains would arrive around June 7

2. ✍ MCX DAILY LEVELS
DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 31MAY 2016 106.50 105.30 104.10 103.55 102.90 102.35 101.70 100.50 99.30
COPPER 30 JUN 2016 319.80 316.45 313.10 311.50 309.75 308.10 306.40 303. 299.70
CRUDE OIL 20 JUN 2016 3276 3235 3194 3176 3153 3135 3112 3071 3030
GOLD 03 JUN 2016 30904 30586 30268 30151 29950 29833 29632 29314 28996
LEAD 31MAY 2016 119.05 117.70 116.35 115.65 115 114.30 113.65 112.30 110.95
NATURAL GAS 25 MAY 2016 160.50 154.30 148.10 144.80 141.90 138.60 135.70 129.50 123.30
NICKEL 31MAY 2016 606.80 597.90 589 584.90 580.10 576 571.20 562.30 553.40
SILVER 05 JUL 2016 43043 42278 41513 41243 40748 40478 39983 39218 38453
ZINC 31MAY 2016 131.95 129.90 127.95 127.20 125.95 125.20 123.95 121.95 119.95
✍ MCX WEEKLY LEVELS
WEEKLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 31MAY 2016 113.50 110.20 106.90 104.95 103.60 101.65 100.30 97 93.70
COPPER 30 JUN 2016 349.35 336.95 324.55 317.20 312.15 304.80 299.75 287.35 274.95
CRUDE OIL 20 JUN 2016 3842 3595 3348 3253 3101 3006 2854 2607 2360
GOLD 03 JUN 2016 31776 31168 30560 30297 29952 29689 29344 28736 28128
LEAD 31MAY 2016 130.70 125.85 121 118 116.15 113.10 111.3 106.45 101.60
NATURAL GAS 25 MAY 2016 164.20 156.90 149.60 145.50 142.30 138.20 135 127.70 120.40
NICKEL 31MAY 2016 670.10 642.20 614.30 597.60 586.40 569.70 558.50 530.60 502.70
SILVER 05 JUL 2016 45816 44219 42622 41798 41025 40201 39428 37831 36234
ZINC 31MAY 2016 145 138.55 132..10 129.30 125.60 122.85 119.20 112.70 106.30

3. WEEKLY MCX CALL
BUY GOLD JUN ABOVE 30200 TGT 30500 SL 29900
BUY CRUDEOIL JUN ABOVE 3200 TGT 3300 SL 3094
Previous WEEKLY CALL
BUY GOLD JUN ABOVE 30000 TGT 30300 SL 29700 - CLOSED AT 30034
SELL ZINC MAY BELOW 124.50 TGT 122.50 SL 126.50 - TGT ACHEIVED.
✍ FOREX DAILY LEVELS
DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 27 MAY 2016 67.35 67.20 67.05 67 66.95 66.85 66.80 66.65 66.55
EURINR 27 MAY 2016 76.95 76.65 76.35 76.20 76.05 75.90 75.75 75.40 75.10
GBPINR 27 MAY 2016 97
.60
97.20 96.85 96.70 96.50 96.35 96.15 95.80 95.45
JPYINR 27 MAY 2016 62.20 62 61.75 61.60 61.55 61.40 61.30 61.05 60.85
✍ FOREX WEEKLY LEVELS
DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 27 MAY 2016 68.20 67.75 67.30 67.10 66.85 66.70 66.40 66 65.55
EURINR 27 MAY 2016 77.50 77 76.55 76.30 76.10 75.85 75.60 75.20 74.70
GBPINR 27 MAY 2016 99.50 98.50 97.50 97 96.50 96.05 95.50 94.50 93.50
JPYINR 27 MAY 2016 65.20 64 62.80 62.15 61.65 60.95 60.45 59.25 58.10
WEEKLY FOREX CALL
BUY JPYINR MAY ABOVE 61.70 TGT 62.10 SL 61.40
BUY EURINR MAY ABOVE 76 TGT 76.40 SL 75.60
Previous WEEKLY CALL
SELL GBPINR MAY BELOW 96.40 TGT 95.70 SL 97.10 - MADE LOW OF 95.9525
SELL USDINR MAY BELOW 66.80 TGT 66.40 SL 67.20 - NOT EXECUTED.
✍ NCDEX DAILY LEVELS

4. DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 20 JUN 2016 679 670 661 658 652 649 643 634 625
SYBEANIDR 20 JUN 2016 4123 4078 4033 4010 3988 3965 3943 3898 3853
RMSEED 20 JUN 2016 4633 4557 4481 4453 4405 4377 4329 4253 4177
JEERAUNJHA 20 JUN 2016 17290 17110 16930 16840 16750 16660 16570 16390 16210
CHANA 20 JUN 2016 6198 6052 5906 5849 5760 5703 5614 5468 5322
NCDEX WEEKLY LEVELS✍
WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 20 JUN 2016 733 708 683 669 658 644 633 608 583
SYBEANIDR 20 JUN 2016 4489 4334 4179 4083 4024 3928 3869 3714 3559
RMSEED 20 JUN 2016 5023 4830 4637 4531 4444 4338 4251 4058 3865
JEERAUNJHA 20 JUN 2016 18810 18145 17480 17115 16815 16450 16150 15485 14820
CHANA 20 JUN 2016 6329 6134 5939 5865 5744 5670 5549 5354 5159
WEEKLY NCDEX CALL
SELL CHANA JUN BELOW 5800 TGT 5700 SL 5902
BUY JEERA JUN ABOVE 17000 TGT 17300 SL 16698
Previous WEEKLY CALL
SELL CHANA JUN BELOW 5659 TGT 5578 SL 5733 - SL
BUY DHANIYA JUN ABOVE 7240 TGT 7350 SL 7124 - TGT ACHIVED

5. MCX - WEEKLY NEWS LETTERS
INTERNATIONAL NEWS
✍ Bullion
Precious metals prices rose on Friday, buoyed by weak U.S. equity markets and chart-based strength, as it shrugged off a
higher dollar and strong U.S. economic data suggesting a brightening outlook for the economy Gold Trust GLD, the world's
largest gold-backed exchange traded fund, said its holdings stood at 851.13 up 5.94 tonnes, from previous business day.
Holdings of the largest silver backed exchange-traded-fund (ETF), New York's i shares Silver Trust SLV, stood at 10421.95
tonnes, remain unchanged from previous business day.
Gold on MCX settled up 0.44% at 30034 buoyed by weak equity markets and chart-based strength, as it shrugged off a higher
dollar and strong U.S. economic data suggesting a brightening outlook for the economy. Bullion has rallied 20 percent this
year as concerns about the strength of the global economy prompted traders to pare expectations for U.S. rate increases by
the Federal Reserve this year. Global demand for gold soared markedly during the first three months of the year, the World
Gold Council said, saying that it was the strongest first quarter on record. Gold demand rallied a whopping 21% year-on-year
to 1,289 tonnes in the first quarter, the industry-linked organization said, adding that the boom came on the back of
especially strong investment demand – particularly for gold-backed ETFs, which saw inflows at 363.7 tonnes, rocketing over
300% and booking the highest point since the start of 2009. India's gold demand in the first quarter slumped 39 percent from
a year ago due to a rally in gold prices, jewellers' strike and as consumers had delayed purchases hoping a cut in India's 10
percent import duty on gold in the national budget, the World Gold Council said. Dealers were offering discounts of up to
$15 an ounce to the global spot benchmark this week, up from a discount of up to $12 in the previous week.
Silver on MCX settled up 0.42% at 40974 as prices recovered tracking firmness in gold and base metals prices after prices seen
pressure after strong U.S. economic data suggested a brightening outlook for the economy. U.S. retail sales jumped 1.3
percent last month, the largest gain since March 2015 and a bigger rise than the 0.8 percent expected. The overall reading
received a lift from auto sales, which surged 3.2% on the month. Still, core retail sales, which discounted the effects of auto
purchases, increased by 0.8% above forecasts for gains of 0.5%
✍ Energy
WTI oil prices rose by 6.3 percent last week to close at $46.2 per barrel U.S. crude hitting six-month highs as investors
weighed a forecast for tighter global supplies against signs of another storage build at the hub for U.S. crude futures.
Worries of a major outage in Nigerian crude also boosted the market. Nigeria is Africa's largest oil producer and (Qua Ibo)
the largest crude grade, set to account for 317,000 bpd of exports in June. It was not immediately clear by how much of the
output was reduced by the pipeline problem. The U.S. government unexpectedly said crude inventories fell the first time
since March, adding to concerns over supply outages in Canada and Nigeria.Crude oil settled flat as a slight uptick in OPEC
production in April reinforced long-term concerns related to the excessive supply glut on global energy markets. OPEC said in
its Monthly Oil Report for May that crude oil production last month rose by 188,000 barrels per day to average 32.44 million
bpd, according to secondary sources. It came amid considerable increases in Iran, Iraq and Angola, partially offset by declines
in Nigeria and Kuwait. Saudi Arabia, the largest producer in the 13-member cartel, saw its production fall slightly by 8,000
bpd to 10.125 million bpd. Output in the Saudi kingdom still remains near all-time record high.
✍ Base Metal
Copper on MCX settled up 0.45% at 309.85 after a string of declines as some investors closed out positions that had been
betting on lower prices though others remained cautious ahead Chinese economic data .LME Copper prices plunged 3.8
percent to close at $4627.5 per tonne as dollar gained momentum after Taro A so, Japan’s finance minister, said it would be
“natural” for the government to intervene in the markets if the yen keeps logging “one-sided” gains. However, sharp losses
were cushioned as BOJ Governor Haruhiko Kuroda said on Thursday that the Bank of Japan is likely to expand monetary
stimulus either in June or July. Also, producers from Codelco to Glencore Plc gave optimistic longer term outlooks at an
industry conference in Miami as three years of declining prices deters production

6. Zinc on MCX settled up 1.32% at 126.5 as support seen after data showed inventories in warehouses registered with the LME
continued to erode, falling to 390,375 tonnes. The figure is the lowest since July 2009, about two thirds below the record
peak in 2013, although some stock is thought to have been shifted to cheaper storage outside LME warehouses. Zinc
production will trail consumption by 352,000 metric tons this year, the ILZSG said in April, widening its deficit forecast from
152,000 tons in October. Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 10,600 to 350,700 tonnes past
week. Some goods were shipped from Shanghai to Tianjin as the price spread between Shanghai and Tianjin was bigger than
freight charges. Zinc smelters preferred to deliver goods to Tianjin, reducing arriving shipments in Shanghai. But arriving
shipments in Tianjin were also limited, with inventories down. Outward shipments in Guangdong increased due to bargain
hunters, so local inventories also slid. Zinc stocks and cancelled warrants both down 1,125 tonnes at 390,375 tonnes and
25,375 tonnes respectively. Lead at $1,713 was up $2 after a marginal stock increase of 25 tonnes to 176,075 tonnes. TCs of
domestic zinc concentrate (50%) held stable at 5,100-5,300 yuan per tonne (zinc content) this past week, and those for
imported zinc concentrate (50%) were $110-130 per dry metric tonne. Supply tightness in North China is expected to ease,
though, as an increasing number of mines restart due to warmer weather.
Nickel on MCX settled up 0.52% at 580.9 as prices bounced back as optimism over a rebound in U.S. economic growth
overshadowed a stronger dollar, but high inventories are keeping market participants cautious about the future direction of
prices. April retail sales recorded their biggest increase in a year, suggesting the economy is regaining momentum, and U.S.
consumer sentiment rose to the highest levels since June last year. Nickel stocks fell 1,674 tonnes to 412,344 tonnes. In a
move centred on Vlissingen, cancelled warrants dropped 4,116 tonnes to 120,720 tonnes. The cash/May date is looking tight
at a small contango of just $1. Investors have been worried about reports that many Chinese smelters were reversing
production cutbacks after prices rebounded, which would add to a global surplus. U.S. retail sales jumped 1.3 percent last
month, the largest gain since March 2015 and a bigger rise than the 0.8 percent expected. The U.S. Census Bureau said retail
sales last month jumped by 1.3%, above consensus expectations of 0.9%, rebounding from a 0.3% decline in March. The
University of Michigan's Consumer Survey Center said its Consumer Sentiment Index soared nearly seven points in its mid-
May flash reading to 95.8, significantly above consensus expectations of 89.7. It came weeks after consumer sentiment
slumped to 89.0 in the final April reading, dropping to its lowest level since last September. In the May reading, though, the
expectations component surged nearly 10 points to 87.5, pulling up the general index
✍ NCDEX - WEEKLY NEWS LETTERS
MAJOR NEWS
The India Meteorological Department (IMD) said on Sunday that the onset of southwest monsoon over the Kerala coast this
year could be delayed by six days and that the rains would arrive around June 7. The forecast is with a model error of plus-
minus four days. The normal onset date of the south-west monsoon is June 1, which marks the start of its four-month journey
over the Indian sub-continent. Although the onset of monsoon is forecast to be delayed, its overall impact on the progress
and performance is difficult to predict as of now. IMD is sticking to its forecast of “above normal” rains in 2016. IMD’s
forecast of monsoon onset issued from 2005 to 2015 has proved to be correct in all years (with the error margin of plus or
minus four days), except in 2015. Delay in monsoon onset is not an unusual phenomenon, said IMD Director General Laxman
Singh Rathore. He, however, added there would be some relief to south Indian states from the intense heat as there could be
some rainfall in the coming days
USDA forecasts India soybean production for 2016/17 at 11.70 million tons, up 58 percent from last year. The increase is based
on the assumption of normal yields. Yield is forecast at 0.97 tons per hectare, up nearly 50 percent from last year and up 5.0
percent from the 5-year average. Harvested area is forecast at 12.0 million hectares, up 5.3 percent from last year. Poor
growing conditions in 2015/16 resulted in historic low yields in the soybean producing areas. The summer monsoon ended a
month earlier than normal for the majority of the soybean area and rainfall throughout the growing season was
characterized as uneven and sporadic. Madhya Pradesh, the largest producer, experienced excessive rainfall and pest issues
throughout the growing season which resulted in significant crop losses. However, dry weather in Maharashtra and
Rajasthan caused crop losses in these districts.
Chinese soybean imports surged 33 percent higher in April from a year ago, setting a monthly record, amid strong demand
for soymeal and soyoil. Iron ore imports also climbed last month on a recovery in steel production in the second quarter.
China imported 7.07 million tonnes of soybeans in April, up 15.9 percent compared to the previous month, preliminary
figures issued by the General Administration of Customs showed on Sunday. This is a record for April imports. March imports

7. were also a monthly record and soybean imports have surged in 2016 on rising demand for soy-meal for hog farms in China.
For the first four months of the year, imports have climbed 11.4 percent from a year ago to 23.33 million tonnes.
✍ Chana
Chana futures gain in Friday due to expectation of tight supplies in coming months. The trend is still positive on anticipation
of limited supplies amid lower production and expensive imports. Chana futures for Jun delivery closed 1.49% down to settle
at Rs 5,792 per quintal. In the third advance estimates (May 2016), chana production is revised downwards to 7.5 mt from 8
mt forecasted in 2nd estimate (Feb 2016). Country imported over 79,000 lt of chana in Feb 2016 higher than 38,000 tones
imports last year in Feb. India has imported 9.93 lt of Chana until February in the current financial year (Apr 2015-Feb 2016).
To control the prices, centre has asked states to impose stock holding limits for traders on all varieties of pulses in order to
curb hoarding. To control speculation in pulses futures, agri-commodity bourse NCDEX hiked the cash margin to 45% on
chana (gram) buyers and 10% on sellers.
The pulses issue was raised by Maharashtra's Food and Civil Supplies Minister Girish Bapat in a meeting with Union Food
Minister Ram Vilas Paswan. Import of pulses rose 26 per cent to 5.79 million tonnes (mt) last financial year to meet rising
domestic demand, Parliament was informed. India had imported 4.58 mt during 2014-15. Technically market is under fresh
buying as market has witnessed gain in open interest by 2.29%
✍ TURMERIC
Turmeric on NCDEX settled down -1% at 8120 due to fall in demand at the spot market. Though, some losses were capped on
poor arrivals of turmeric from the producing regions. At Sangli market sources reported arrivals at 9500 quintals, higher by
4500 quintals as against previous day. At Warangal market total arrivals are at 1500 bags, lower by 2000 bags as compared to
previous day. New season crop has hit the markets and continue to peak in current month but majority of arrivals are of
medium quality. As per dept of commerce data, turmeric exports for the period April 2015- Feb 2016 is pegged at 77,081
tonnes while the export for the 2014-15 was 83,713 tonnes for the same period. Due to poor demand for turmeric, prices were
down Rs. 9,000 a quintal. Turmeric growers are bringing very limited stock for sale due to poor upcountry demand. Farmers
brought only 4,400 bags on Monday and 70 per cent of the stock was sold. Buyers also quoted decreased price. Further, due
to the Tamil Nadu Assembly Election and implementation of model code of Conduct Rules by the Election authorities, buyers
were reluctant to take huge money for buying the commodity. Of the total arrival of 902 bags, 544 were sold. At the
Regulated Market Committee finger turmeric sold at Rs. 7,899 to Rs. 9,029 a quintal, root variety at Rs. 7,769 to Rs. 8,695 a
quintal. Sangli market witnessed arrivals of 908 tonnes and prices traded at Rs.10500/quintal for Rajapuri variety. Nizamabad
market remained closed for fourth day due to conflict between government and traders. NCDEX accredited warehouses have
4261 MT of valid stock and 259 MT of stock in process as on 11th May 2016.
✍ SOYABEAN
CBOT soybean futures fell on Friday on profit-taking following this week's surge in the most-active contract to a 21-month
high. Moreover, slow export demand too weighs on price. The soybean sales were down considerably from the previous week
with old-crop business off 74% and new-crop sales of 253,506 bushels down sharply from last week’s 15.8 million. According to
the WASDE report, U.S soybean production for 2016/17 is projected at 103.4 mt, down 0.35 mt from the previous year on
lower harvested area and yields. US Soybean exports are forecast at 51.3 mt, up 3.95 mt from the revised 2015/16 projection.
However, global soybean production in 2016/17 is forecast to rise to a record 324 mt
Soybean Jun’16 contract closed 1.24% down to settle at Rs. 4,987 per quintal. USDA forecasts India soybean production for
2016/17 at 11.70 mt, up 58% from last year. The increase is based on the assumption of normal yields. In 2015-16, SOPA
forecast production at 69.29 lt but government in third estimate forecasts 89.2 lt.

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