Gold demand in India this week was muted as a recent rally in domestic prices prompted buyers to postpone purchases despite the approaching festival and wed-ding season.

1. HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

2. 2 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
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 Inter-
est
% Change
in Volume
Aluminium 30-Nov-18 151.80 149.55 150.50 145.50 147.05 -3.13% 0.13% 21.31%
Copper 30-Nov-18 453.00 454.50 460.50 440.65 444.70 -1.83% 19.19% 14.90%
Crude Oil 16-Nov-18 5,115 5,110 5,135 4,847 4,951 -3.21% 15.65% -4.82%
Gold 05-Dec-18 31902 31880 32280 31785 31937 0.11% 136.07% 6.28%
Lead 30-Nov-18 147.2 148.00 149.35 146.40 146.8 -0.27% -27.02% -3.14%
Natural Gas 27-Nov-18 243.40 240.00 244.00 231.40 235.80 -3.12% 8.55% -32.17%
Nickel 30-Nov-18 921.00 930.10 934.50 870.00 872.30 -5.29% 14.61% 92.69%
Silver 05-Dec-18 38796 38841 39268 38571 38712 -0.22% 56.68% 1.05%
Zinc 31-Oct-18 196.35 197.35 202.20 194.55 197.70 0.69% -5.65% 6.44%
Castor Seed 20-Nov-18 5266.00 5284.00 5538.00 5284.00 5486.00 4.18% 13.78% 7.48%
Chana 20-Nov-18 4098.00 4107.00 4199.00 3940.00 3952.00 -3.56% 32.42% 33.51%
Dhaniya 20-Nov-18 5646.00 5625.00 5925.00 5591.00 5786.00 2.48% 51.53% 11.60%
COCUDAKL 20-Dec-18 1797.00 1776.00 1898.00 1766.00 1872.50 4.20% -1.66% 1.76%
Guargum5 20-Nov-18 9806.00 9843.00 10510.00 9780.00 10315.00 5.19% 14.94% 7.81%
Guarseed10 20-Nov-18 4544.50 4547.00 4784.00 4526.00 4713.50 3.72% -0.08% 4.97%
Jeera 20-Nov-18 20365.00 20285.00 20420.00 19430.00 19570.00 -3.90% -16.37% 11.55%
RMseed 20-Nov-18 4173.00 4165.00 4234.00 4137.00 4196.00 0.55% 30.05% -1.81%
Ref Soya Oil 20-Nov-18 765.60 764.10 765.70 748.30 751.15 -1.89% -16.84% 27.92%
Soyabean 20-Nov-18 3246.00 3232.00 3316.00 3149.00 3270.00 0.74% 23.56% 23.69%
Turmeric 20-Nov-18 6560.00 6600.00 6698.00 6486.00 6674.00 1.74% 71.99% 7.62%
Mentha Oil 31-Dec-18 1734.00 1755.60 1835.50 1745.00 1820.80 5.01% 50.15% 5.12%
USDINR 28-Nov-18 74.1375 73.7500 74.1725 73.4000 73.6800 -0.62%
GBPINR 28-Nov-18 96.2125 96.3600 96.5500 94.2600 94.3850 -1.90%
JPYINR 28-Nov-18 66.3875 65.6975 66.0950 65.3000 65.8900 -0.75%
EURINR 28-Nov-18 84.7625 84.9675 84.4100 83.6850 83.7550 -1.19%

3. 3 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
International Market Wrap-up
Commodity Exchange
Previous
Close
Open High Low Close % Change in Price
Market Wrap-Up
Aluminium LME 2008.50 2010.75 2031.75 1975.75 2001.00 -0.37%
Copper COMEX 2.782 2.770 2.812 2.720 2.744 -1.37%
Crude Oil NYMEX 69.37 96.41 69.66 65.74 67.59 -2.57%
Gold COMEX 1225.30 1224.50 1238.60 1219.60 1232.50 0.59%
Lead LME 1996.25 1995.50 2027.75 1983.50 1995.75 -0.03%
Natural Gas NYMEX 3.229 3.227 3.250 3.102 3.185 -1.36%
Nickel LME 12472.50 12580.00 12727.50 11810.00 11877.50 -4.77%
Silver COMEX 14.564 14.665 14.665 14.660 14.635 0.49%
Zinc LME 2626.75 2626.00 2720.00 2609.50 2659.50 1.25%

4. 4 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
Inventory Updates
LME Inventory
Commodity
Closing (As on 26th Oct 18)
In tones
Closing (As on 19th Oct 18)
in tones
% Change in Price
Continued…….
Aluminium 1049525 1072950 -2.18%
Copper 149575 158300 -5.51%
Lead 112475 115725 -2.81%
Nickel 219654 219924 -0.12%
Zinc 157725 173050 -8.86%

5. 5 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
Inventory Updates

6. 6 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
Market Next Week
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3
Continued…….
Upcoming Economic Events Calender
Time Currency Event Forecast Previous
Monday, October 29, 2018
18:00 GBP Autumn Budget
18:00 USD Core PCE Price Index (YoY) (Sep) 2.00% 2.00%
18:00 USD PCE Deflator (MoM) 0.10% 0.10%
18:00 USD Personal Spending (MoM) (Sep) 0.40% 0.30%
Tuesday, October 30, 2018
18:30 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Aug) 6.00% 5.90%
19:30 USD CB Consumer Confidence (Oct) 136 138.4
Wednesday, October 31, 2018
6:30 CNY Manufacturing PMI (Oct) 50.6 50.8
6:30 CNY Non-Manufacturing PMI (Oct) 54.9 54.9
17:45 USD ADP Nonfarm Employment Change (Oct) 190K 230K
20:00 USD Crude Oil Inventories 6.346M
Thursday, November 1, 2018
17:30 GBP BoE Inflation Report
18:00 USD Initial Jobless Claims 213K 215K
18:00 USD Nonfarm Productivity (QoQ) (Q3) 1.90% 2.90%
18:00 USD Unit Labor Costs (QoQ) (Q3) 1.20% -1.00%
19:15 USD Manufacturing PMI (Oct) 55.9 55.9
19:30 USD ISM Manufacturing Employment (Oct) 58.5 58.8
Friday, November 2, 2018
15:00 GBP Construction PMI (Oct) 52 52.1
18:00 USD Average Hourly Earnings (MoM) (Oct) 0.20% 0.30%
18:00 USD Exports 209.43B
18:00 USD Imports 262.67B
18:00 USD Nonfarm Payrolls (Oct) 191K 134K
18:00 USD Private Nonfarm Payrolls (Oct) 183K 121K
18:00 USD Trade Balance (Sep) -53.40B -53.20B
18:00 USD Unemployment Rate (Oct) 3.80% 3.70%
USDINR 28-Nov-18 75.3000 74.5000 74.1000 73.7500 73.3500 73.0000 72.2000
GBPINR 28-Nov-18 99.6500 97.3500 95.8500 95.0500 93.5500 92.7500 90.4500
JPYINR 28-Nov-18 67.3500 66.5500 66.2000 65.7500 65.4000 64.9500 64.1500
EURINR 28-Nov-18 85.4000 84.6500 84.2000 83.9500 83.5000 83.2500 82.5000

7. 7 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
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-Nov-18 157.70 152.70 149.90 147.70 144.90 142.70 137.70
Copper 30-Nov-18 488.30 468.45 456.55 448.60 436.70 428.75 408.90
Crude Oil 16-Nov-18 5554 5266 5108 4978 4820 4690 4402
Gold 05-Dec-18 32991 32496 32216 32001 31721 31506 31011
Lead 30-Nov-18 153.40 150.45 148.60 147.50 145.65 144.55 141.60
Natural Gas 27-Nov-18 262.25 249.65 242.70 237.05 230.10 224.45 211.85
Nickel 30-Nov-18 1021.25 956.75 914.50 892.25 850.00 827.75 763.25
Silver 05-Dec-18 40244 39547 39130 38850 38433 38153 37456
Zinc 31-Oct-18 213.45 205.80 201.75 198.15 194.10 190.50 182.85
Castor Seed 20-Nov-18 5944 5690 5588 5436 5334 5182 4928
Chana 20-Nov-18 4548 4289 4121 4030 3862 3771 3512
Dhaniya 20-Nov-18 6435 6101 5944 5767 5610 5433 5099
COCUDAKL 20-Dec-18 2109.50 1977.50 1925.00 1845.50 1793.00 1713.50 1581.50
Guargum5 20-Nov-18 11662 10932 10623 10202 9893 9472 8742
Guarseed10 20-Nov-18 5190.50 4932.50 4823.00 4674.50 4565.00 4416.50 4158.50
Jeera 20-Nov-18 21787 20797 20183 19807 19193 18817 17827
RMseed 20-Nov-18 4383 4286 4241 4189 4144 4092 3995
Ref Soya Oil 20-Nov-18 789.85 772.45 761.80 755.05 744.40 737.65 720.25
Soyabean 20-Nov-18 3579 3412 3341 3245 3174 3078 2911
Turmeric 20-Nov-18 7043 6831 6753 6619 6541 6407 6195
Mentha Oil 31-Dec-18 1981.5 1891.0 1855.9 1800.5 1765.4 1710.0 1619.5

8. 8 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
BULLION
Gold demand in India this week was muted as a recent rally in domestic prices
prompted buyers to postpone purchases despite the approaching festival and wed-
ding season. Gold prices are up more than 6 percent after falling to $1,159.96 an
ounce in mid August the lowest since January 2017. Holdings in the worlds largest
gold-backed exchange traded fund SPDR Gold Trust saw outflows of about 4.5 mil-
lion ounces between late April and early October. But holdings are now at their
highest since the end of August at 24.1 million ounces.
BASE METALS
ENERGY
MCX Fundamentals
Oil prices were stable on Monday supported by a bounce in Asian stocks but ana-
lysts said sentiment remained cautious after a plunge in financial markets last
week triggered worries that global growth may be slowing. Despite the gains and
calmer financial markets early on Monday sentiment among investors remained
cautious after hefty losses last week.The Energy Information Administration re-
leased its report on US natural gas storage showing a build of 58 billion cubic feet
in the week ending October 19, adding to the 81 billion addition in the previous
reading while analysts expected a 47 billion increase.
Copper prices were slightly down after falling 1 percent on Friday as global equities
headed for their worst week in more than five years overshadowing a supply short-
age of the metal building in the market. Available London Metal Exchange copper
inventories fell to their lowest in nearly 13 years while cash copper traded at its
highest premium to the three month future in nearly three years.

9. 9 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
SPICES
NCDEX Fundamentals
OILSEEDS
GUAR COMPLEX
OTHERS
Sentiments currently remain positive from news of China lifting ban on im-
port of Indian Rapemeal. Normally his implies that crushing demand for
Rapeseed shall increase therefore buying interest was impressive in the fu-
tures market.Market participants were unaware of any fresh bearish report
from spot mandis therefore soy bean futures at NCDEX ended the day on
strong note. Slightly positive cues from the recently released USDA report
again helped soy bean in recovering from lower levels.
Moderate weak trend persisted for Jeer as it failed to hold above the 20000
mark after the recent highs even as overall sentiments remains firm from fal-
ling stocks rising demand and expected fall in sowing from lower rains in Guja-
rat/Rajasthan. Possibilities of delayed sowing too could support prices in the
medium term. Turmeric failed to show strong movement with prices finding
some support at these lower levels. But high stocks amidst lack of very strong
demand kept pressurizing prices. Technically trend did not look very positive
for now.
Mentha traded with slight firmness as expected rise in winter season demand
continued supporting buying sentiments and it broke strong resistance levels
indicating further upside in coming days. Adverse reports on the production
front too shall continue supporting prices in coming weeks. Weakness in the
International markets weighed over edible oil market therefore Soya oil failed
to recover for yet another session. Weakness in palm oil added to bearish
tone. Ahead of Indian/US harvest season of the soy bean crop not much of
upside is expected in edible oils especially soya oil.
Bullish trend persisted for Guar on apprehensions of lower production from
less rains received in Rajasthan. Reports of lower arrivals of the new crop
amidst prospects of fall in sowing area in Rajasthan are likely to support prices
in medium term. With low rains reported in West Rajasthan and excess rains
reported in East Rajasthan this year market sources believe both these factors
to be damaging for the crop.

10. 10 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
From last couple of trading weeks Gold is trading in range between the level of 32100-31800 and forming descending
triangle formation on higher level. Last week Gold made a low of 31785 and closed at 31937 with overall marginal gain
of 0.11% on weekly basis. On its daily chart Gold is forming lower highs formation indicating negative trend in it. For
this week, if it breaks the level of 31780 on the lower side then it can test the level of 31352 during the week. One can
make sell position in it by maintaining a SL at 31911
Calls of the Week (MCX)
ALUMINIUM
GOLD
WEEKLY STRATEGY
PARTICULAR DETAILS
Last week Aluminium made a low of 145.50 and closed at the level of 147.05 with overall marginal loss of 3.13% on
weekly basis. Aluminium continuously trading with downtrend channel and recently Aluminium broken its resistance
trend line and sustaining near the level of 147. For this week if it is break the level of 147.70 on upper side then it can
test the level of 152.70. One can make buy position in it with SL of 146.40.
WEEKLY STRATEGY
PARTICULAR DETAILS
Action Sell
Entry Range Below 31.780
Target 31352
SL 31911
Action Buy
Entry Range Above 147.70
Target 152.70
SL 146.40

11. 11 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
From last couple of trading weeks Chana is trading with negative sentiment buy unable to break the level of 3900 and
we seen that 3900 level reacted as a strong support zone in Chana. Last week Chana made a low of 3940 and closed at
the level of 3952 with overall marginal gain of 3.56% on weekly basis. Technically Chana is trading above its support
level of 3900 and we are expecting bounce back in it from lower level. For this week if it is break the level of 4000 on
upper side then it can test the level of 4150. One can make buy position in it with SL of 3945.
Calls of the Week (NCDEX)
COKUDAKL
CHANA
WEEKLY STRATEGY
PARTICULAR DETAILS
WEEKLY STRATEGY
PARTICULAR DETAILS
Last week COCUDAKL started a week on positive not but found enough resistance near the level of 1900 and made
bearish candlestick pattern on higher level. Last week COCUDAKL made a high of 1898 and closed at the level of
1872.50 with overall marginal gain of 4.20% on weekly basis. For this week if it is break the level of 1850 on lower side
then it can test the level of 1722. One can make sell position in it with SL of 1906.
Action Sell
Entry Range Below 1850
Target 1722
SL 1906
Action Buy
Entry Range Above 4000
Target 4150
SL 3945

12. 12 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
Calls of the Week (FOREX)
WEEKLY STRATEGY
PARTICULAR DETAILS
JPYINR
USDINR
WEEKLY STRATEGY
PARTICULAR DETAILS
Last week USDINR Oct Futures started the week on positive note and made a high of 74.1725 but till the end of the
week, all of its earlier gains were erased and it closed at 73.6800 with the overall loss of 0.62 per cent on weekly basis.
Technically it consolidating near to the trend line breakout with negative RSI and for this week, we can expect profit
booking in it from the higher levels. For this week, if it breaks the level of 73.4000 on the downside, then it can test the
level of 73.9125 during the week. One can make sell position in it by maintaining a SL 73.8025.
Action Sell
Entry Range Above 73.4000
Target 72.9125
SL 73.8025
Last week JPYINR Oct Futures started the week on positive note and made a high of 66.0950 but till the end of the
week, market closed below the level of 66.0000 and it closed at 65.8900 with the overall loss of 0.75 per cent on
weekly basis. Technically it consolidating below the major psychological support level of 66.0000 with the negative RSI
and for this week, we can expect further downside movement in it. For this week, if it breaks the level of 65.6800 on
the lower, then it can test the level of 65.2525 during the week. One can make sell position in it by maintaining a SL
66.0025
Action Sell
Entry Range Below 65.8000
Target 65.2525
SL 66.0025

13. 13 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
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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 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|
(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,
(ब) 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 |
(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 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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