Last week, MCX gold prices traded sideways for the entire week but found enough support of 200 days moving average at level of Rs. 29500 and close the price near 4 week high. Gold prices moved higher on Friday, surging above resistance which is now support at the 50-day moving average level at Rs. 29500.

2. ` MCX DAILY LEVELS✍
DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 30-11-17 136.20 140.90 139.25 137.60 136.90 135.95 135.25 134.30 132.65
COPPER 30-11-17 452.70 448.00 443.30 441.65 438.60 436.95 433.90 429.20 424.50
CRUDE OIL 17-11-17 3934 3843 3752 3718 3661 3627 3570 3479 3388
GOLD 05-12-17 30711 30337 29963 29826 29589 29452 29215 28841 28467
LEAD 30-11-17 166.05 163.35 160.65 159.70 157.95 157.00 155.25 152.55 149.85
NATURAL GAS 27-11-17 215.55 210.95 206.35 204.70 201.75 200.10 197.15 192.55 187.95
NICKEL 30-11-17 788.45 775.25 762.05 756.60 748.85 743.40 735.65 722.45 709.25
SILVER 05-12-17 41978 41290 40602 40307 39914 39619 39226 38538 37850
ZINC 30-11-17 216.50 213.65 210.80 209.75 207.95 206.90 205.10 202.25 199.40
Friday 17 November 2017

3. MCX WEEKLY LEVELS✍
WEEKLY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 30-11-17 148.55 144.55 140.55 138.40 136.55 134.40 132.55 128.55 124.55
COPPER 30-11-17 496.55 478.70 460.85 450.45 443.00 432.60 425.15 407.30 389.45
CRUDE OIL 17-11-17 4150 3990 3830 3757 3670 3597 3510 3350 3190
GOLD 05-12-17 30777 30383 29989 29840 29595 29446 29201 28807 28413
LEAD 30-11-17 189.2 179.55 169.90 164.30 160.25 154.65 150.60 140.95 131.30
NATURAL GAS 27-11-17 244.2 231.00 217.80 210.40 204.60 197.20 191.40 178.20 165.00
NICKEL 30-11-17 1018.05 935.25 852.45 801.80 769.65 719.00 686.85 604.05 521.25
SILVER 05-12-17 42178 41415 40652 40332 39889 39569 39126 38363 37600
ZINC 30-11-17 238.75 228.90 219.05 213.90 209.20 204.05 199.35 189.50 179.65

4. FOREX DAILY LEVELS✍
DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 28-11-17 66.24 65.83 65.41 65.26 64.99 64.84 64.57 64.16 63.75
EURINR 28-11-17 78.57 77.96 77.36 77.11 76.75 76.50 76.14 75.53 75.93
GBPINR 28-11-17 87.66 87.10 86.55 86.26 85.99 85.70 85.43 84.87 84.32
JPYINR 28-11-17 58.95 58.55 58.14 57.99 57.73 57.58 57.31 56.90 56.49
FOREX WEEKLY LEVELS✍
WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 28-11-17 68 67.06 66.11 65.65 65.17 64.67 64.22 63.28 62.33
EURINR 28-11-17 80.55 79.32 78.09 77.48 76.86 76.24 75.62 74.39 73.16
GBPINR 28-11-17 87.96 87.30 86.65 86.31 85.99 85.65 85.34 84.68 84.03
JPYINR 28-11-17 59.44 58.88 58.33 58.09 57.77 57.53 57.22 56.66 56.11

5. MCX - WEEKLY NEWS LETTERS
✍ BULLION
Last week, MCX gold prices traded sideways for the entire week but found enough support of 200 days
moving average at level of Rs. 29500 and close the price near 4 week high. Gold prices moved higher on
Friday, surging above resistance which is now support at the 50-day moving average level at Rs. 29500.
Resistance is seen near important psychological level at Rs. 30000. Stronger than expected housing
numbers in the U.S. failed to lift the dollar and allowed gold prices to move higher. Momentum has
turned positive as the MACD (moving average convergence divergence) index recently generated a
crossover buy signal. The MACD histogram is printing in the black with an upward sloping trajectory
which points to higher prices for the yellow metal. RSI (Relative Strength Index) fluctuating above the 50
level on its daily chart indicating positive movement in upcoming sessions.
MCX Silver also moved higher taking cue from the Gold and closed above the level of Rs.40000 with the
gain of 1.30 per cent on weekly basis, in what would be its best week in five. Silver important support
level at Rs. 39600 supported by 50 days moving average. Technically Bullion market is looking positive
in upcoming sessions and in last week market has appreciated and now psychologically investors are
looking interested to investment and it is termed as a very good hedge also. Ahead of the coming week,
Fed Chair Yellen Speaks, Unemployment Claims & FOMC Meeting Minutes will further provide
direction to the bullion.

6. ✍ BASE METAL
November Copper futures are trading with negative sentiment after hitting its lowest level since October 9
on Friday. Prices continued to slide yesterday as data from China stoked fears of a slowdown in the
world’s top commodities consumer Data released on Tuesday showed China’s economy cooled further
last month, with industrial output, fixed asset investment and retail sales missing expectations as the
government extended a crackdown on debt risks and factory pollution. Prices could fall further if
investors continue to move money out of riskier assets which typically has a negative impact on
commodities. However, if investors are dumping copper because they believe the economy in China is
slowing then the current short-term retracement could evolve into a longer-term setback.
The main trend is down according to the daily swing chart. The trend turned down on a trade through
Rs.450 on Tuesday. A trade below Rs. 335 will reaffirm the downtrend. If the selling pressure increases,
we could see an eventual break into the cluster of bottoms at Rs. 335 to Rs. 324 supported by 50 days
moving average. The short-term range is Rs. 446 to Rs. 435 supported by 15 days and 50 days moving
average.
✍ ENERGY
Crude oil prices jumped on Friday, but failed to offset their first weekly loss in six weeks as fears over
rising U.S. output persisted, while falling expectations for an extension of OPEC-led output curbs
weighed on sentiment. U.S. West Texas Intermediate (WTI) crude futures rose $1.36, or around 2.5%, to
end at $56.71 a barrel by close of trade, snapping a five-session losing streak.
The Crude Oil market fell during most of the week, but turned around at the Rs. 3600 level, showing signs
of support and end up forming a hammer. The hammer of course is a bullish sign, and we recognize that
the market breaking out above the Rs. 3700 level previously was a very bullish sign. I believe that the
market should continue to go higher in the short term, as the Rs. 3800 level will almost certainly be
targeted now. There will be a lot of volatile action, as Ahead of the coming week, market has compiled a
list of these and other significant events likely to affect the markets.

7. Tuesday, November 21
The American Petroleum Institute, an industry group, is to publish its weekly report on U.S. oil supplies.
Wednesday, November 22
The U.S. Energy Information Administration is to release weekly data on oil and gasoline stockpiles.
Natural gas futures climbed 4.4 cents, or almost 1.5%, to settle at $3.097 per million British thermal units,
but still lost about 3.6% for the week. On Thursday, the Energy Information Administration reported the
first weekly decline of the winter heating-fuel season for U.S. natural-gas supplies.

8. MCX TECHNICAL VIEW
✍ SILVER
Last week, MCX Silver prices traded sideways for the entire week but found enough support of 100 days
moving average at level of Rs. 39500 on its 4 hourly chart. Silver prices moved higher on Friday, surging
above resistance which is now support at the 50-day moving average level at Rs. 39700. Resistance is seen
near important psychological level at Rs. 40000. Momentum has turned positive as the MACD (moving
average convergence divergence) index recently generated a crossover buy signal. The MACD histogram is
printing in the black with an upward sloping trajectory which points to higher prices for the yellow metal. RSI
(Relative Strength Index) fluctuating above the 50 level on its daily chart indicating positive movement in
upcoming sessions.

9. ✍ LEAD
The primary trend is bullish on daily basis as displayed. As we can see the previous chart market price on its
important support level and we are expecting market can move up from lower level supported by 100 days
moving average. It can be facing near resistance level at Rs. 160.40 and support level at Rs. 156. Above the
resistance level we can see the next target near of Rs. 163. Investors can follow the buy on dips strategy for
intra day to mid term basis. Apart from this below the support level could see a test of level 153.
BUY LEAD NOV ABOVE 160.40 TGT 163.60 SL 158.50

10. ✍ NICKEL
Last week, MCX Nickel traded with slightly negative trend we seen profit booking from higher level till we
believe that investors are looking interested in metals we can see bounce back from lower level as displayed on
charts. Resistance is seen near the level at Rs. 760. Momentum has turned positive as the MACD (moving
average convergence divergence) index recently generated a crossover buy signal on its 4 hourly chart. The
MACD histogram is printing in the black with an upward sloping trajectory which points to higher prices for
the metal. RSI (Relative Strength Index) fluctuating above the 50 level on its daily chart indicating positive
movement in upcoming sessions.
BUY NICKEL NOV ABOVE 760 TGT 788 SL 743

11. NCDEX DAILY LEVELS✍
DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 20-11-17 683 682 681 680 679 679 678 677 676
SYBEANIDR 20-11-17 2940 2912 2884 2869 2856 2841 2828 2800 2772
RMSEED 20-11-17 4046 3997 3948 3917 3899 3868 3850 3801 3752
JEERAUNJHA 20-11-17 20835 20495 20155 20010 19815 19670 19475 19135 18795
GUARSEED10 20-11-17 3790 3744 3698 3673 3652 3627 3606 3560 3514
TMC 20-11-17 7337 7227 7117 7075 7007 6965 6897 6787 6677
NCDEX WEEKLY LEVELS✍
WEEKLY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 20-11-17 744 724 705 692 685 673 666 647 627
SYBEANIDR 20-11-17 3016 2962 2908 2882 2854 2828 2800 2746 2692
RMSEED 20-11-17 4216 4116 4016 3951 3916 3851 3816 3716 3616
JEERAUNJHA 20-11-17 23142 21937 20732 20298 19527 19093 18322 17117 15912
GUARSEED10 20-11-17 4113 3970 3827 3738 3684 3595 3541 3398 3255
TMC 20-11-17 8168 7776 7384 7208 6992 6816 6600 6208 5816

12. NCDEX - WEEKLY MARKET REVIEW
✍ SPICE COMPLEX
Technically NCDEX Turmeric is under short covering as market has witnessed drop in open interest by
-6.34% to settled at 6940. Now Turmeric is getting support at 6965 and below same could see a test of
6897 level, And resistance is now likely to be seen at 7075, a move above could see prices testing 7117.
Turmeric on NCDEX settled up 0.72% at 7032 amid strong demand in the spot market. Besides, limited
arrivals from major growing regions also added support to turmeric prices’ uptrend.
Jeera Dec Futures recently broken its major psychological resistance level of Rs.20000. Fundamentals are
strong as the stock left is thin in the market and there is still a long way for the new crop to enter the
market. The new Jeera crop will now arrive only from February, which means that four months of time
span left before new crop hits the market. Important resistance level at Rs. 21000, while Rs. 19500 can act
as a support level.
✍ OILSEED COMPLEX
Soybean NCDEX Dec futures gained by 80 points and settled above 2900/quintal. Price gained with rising
volume. Last week, Soybean futures traded lower on NCDEX as speculators trimmed their positions amid
higher arrivals from new season crops. Besides, demand for new season crop is steady as import duty is
not raised by the government. Soybean prices weakened further on widespread rains in northern Brazil,
which are expected to boost crop prospects in the world's top soybean exporting country. However, dry
conditions will delay soy planting in neighboring Argentina.
Last week, Refined soy oil Dec futures prices traded with negative bias but found enough support at the
level of Rs. 690. It traded near to nine month high and is in uptrend since past four weeks, buoyed by
higher quoting soy oil price on CBOT. However, the upside may get limited from here on as the retail
demand of soy oil is very limited so most of the wholesale traders are procuring soy oil as per
requirement. Spot soybean seed and mustard seed prices are likely to boost today.

13. As of now, Soy oil and Canola oil prices has increased by 7.30/kg. This is primarily due to Indian
government’s decision to hike import duty on soy oil and canola oil to 30% and 25% from previous 17.5%
and 12.5% respectively.
NCDEX Mustard seed Dec futures traded in a narrow range of 3956-3980 and settled at 3969. Price closed
higher by 5 points with lower OI and volume. Price traded dull with narrow movement in veg oils. Lower
acreage number with recovery in soybean supported the Mustard fuutures counter. As of 10 Nov 2017 the
all Indian area under Mustard was at 37.05 lakh hec vs. 38.41 in last year, the normal area is 39.15 lakh
hec as per the govt data, the area is down by 3.54%
✍ OTHER COMPLEX
Chana Dec futures fall about 1.4% on Thursday despite government removed export curbs on all varieties
of pulses to ensure farmers get remunerative prices as domestic rates have crashed below MSP in view of
record production. Chana is pressured by good start to rabi sowing and higher stock levels in the country.
Moreover, government which is sitting on a buffer stock of 18 lakh tonnes is set to dispose of 5 lt pulses
by March next year will put pressure on prices. As per government sowing data chana is planted in 47.2
lakh ha as on 10 Nov, up by 43% compared to 33 lakh ha last year. Moreover to encourage farmers to
plant more chana, Government increase MSP by 10% to Rs. 4,400 per quintal. According to the target
estimate released by government, India’s chana production target estimate for 2017-18 is 97.5 mt.

14. NCDEX TECHNICAL VIEW
✍ GUARSEED
Guar seed moved higher last Friday after a modest pull back earlier in the week. Price has surged significantly
higher in recent weeks, breaking above key long-term resistance levels easily. Traders should watch support
between 3640 and 3620 and look to buy near that area this week should price weaken and form a 1 hour, 4
hour or daily chart price action buy signal within or near that support zone as you can see in the displayed
chart. Technically for the next week, we can expect positive movement in it and if it breaks the resistance level
of Rs.3720 then it can test the level of Rs.3880 - 3830 in short term basis.

15. ✍ GUARSEED 10
From last couple of months market was traded in down trend channel and recently market broken its channel
indicating the positive movement in Guarseed. It is having important resistance level of 3705 above this level
we can see the short term positive movement to the level of 3800 - 3830. On the other side 3570 level should
be enough for support level.

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