HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

Market Wrap-Up

MCX Market Wrap-Up

% Change in
Previous % Change in % Change
Commodity Contract Open High Low Close Open Inter-
Close Price in Volume
est
Aluminium 31-Oct-18 149.40 149.45 167.80 149.45 157.70 5.56% 64.27% -5.86%

Copper 30-Nov-18 452.95 451.00 469.35 446.40 456.55 0.79% 15.98% 0.66%

Crude Oil 19-Oct-18 5,335 5,344 5,669 5,325 5,546 3.96% 28.92% -14.87%

Gold 05-Dec-18 30780 30751 31670 30683 31643 2.80% -32.94% 17.18%

Lead 31-Oct-18 148.25 148.25 151.75 146.65 147.9 -0.24% -7.08% 18.93%

Natural Gas 26-Oct-18 218 219.7 240.4 219.7 232.7 6.74% 35.67% 13.01%

Nickel 31-Oct-18 913.30 913.10 959.50 901.20 940.20 2.95% -13.18% -40.34%

Silver 05-Dec-18 38577 38500 39360 38055 39274 1.81% -28.27% -2.32%

Zinc 31-Oct-18 191.80 191.80 200.35 190.40 197.95 3.21% -37.34% -16.94%

NCDEX Market Wrap-Up

Previous % Change % Change in % Change
Commodity Contract Open High Low Close
Close in Price Open Interest in Volume

Castor Seed 16-Oct-18 4672.00 4680.00 4690.00 4566.00 4654.00 -0.39% 74.91% -7.53%

Chana 16-Oct-18 4094.00 4121.00 4239.00 4096.00 4225.00 3.20% -9.92% -8.76%

Dhaniya 16-Oct-18 4862.00 4832.00 4889.00 4810.00 4839.00 -0.47% -28.72% -5.88%

COCUDAKL 20-Dec-18 1659.50 1658.00 1709.00 1632.00 1706.00 2.80% 53.31% -6.40%

Guargum5 16-Oct-18 9242.00 9260.00 9280.00 9069.00 9112.00 -1.41% -39.96% 0.50%

Guarseed10 16-Oct-18 4310.00 4309.00 4317.00 4191.00 4227.50 -1.91% -33.17% -30.05%

Jeera 16-Oct-18 18770.00 18725.00 19250.00 16865.00 19195.00 2.26% 45.34% -1.89%

RMseed 16-Oct-18 4181.00 4174.00 4175.00 4109.00 4117.00 -1.53% 86.98% -11.04%

Ref Soya Oil 16-Oct-18 746.50 744.10 756.75 739.00 752.85 0.85% 22.91% 11.40%

Soyabean 16-Oct-18 3249.00 3220.00 3268.00 3162.00 3240.00 -0.28% 142.01% 1.10%

Turmeric 16-Oct-18 6734.00 6702.00 6964.00 6642.00 6946.00 3.15% -49.36% 10.36%

Mentha Oil 31-Oct-18 1680.80 1669.80 1756.00 1647.00 1716.50 2.12% -7.90% -8.56%
Currency Market Wrap-Up
Previous Change in
Currency Pair Contract Open High Low Close
Close Price (in%)
USDINR 29-Oct-18 72.7625 72.9150 74.4475 72.8275 74.0125 1.72%

GBPINR 29-Oct-18 95.0175 95.0600 97.0825 94.9050 96.5775 1.64%

JPYINR 29-Oct-18 64.3000 64.1200 65.4550 64.0600 65.0675 1.19%

EURINR 29-Oct-18 84.4525 84.8025 85.6925 84.6125 85.2750 0.97%

Continued…….
2 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018
Market Wrap-Up

International Market Wrap-up

Previous
Commodity Exchange Open High Low Close % Change in Price
Close
Aluminium LME 2053.00 2054.25 2266.75 2047.25 2117.50 3.14%
Copper COMEX 2.787 2.783 2.840 2.745 2.759 -1.00%

Crude Oil NYMEX 73.25 73.29 76.90 72.95 74.29 1.42%

Gold COMEX 1196.20 1191.60 1206.00 1185.80 1206.70 0.88%

Lead LME 2032.00 2040.75 2067.75 1977.75 1989.00 -2.12%

Natural Gas NYMEX 3.008 3.007 3.261 3.001 3.155 4.89%

Nickel LME 12547.50 12525.00 12985.00 12322.00 12662.50 0.92%

Silver COMEX 14.623 14.350 14.740 14.350 14.680 0.39%

Zinc LME 2596.25 2593.75 2728.00 2569.50 2625.25 1.12%

3 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018

Inventory Updates

LME Inventory
Closing (As on 5th Oct 18) Closing (As on 28th Sep 18)
Commodity % Change in Price
In tones in tones

Aluminium 974075 994625 -2.07%

Copper 188950 209900 -9.98%

Lead 114600 116300 -1.46%

Nickel 228090 228870 -0.34%

Zinc 203675 203650 0.01%

Continued…….
4 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018
Inventory Updates

5 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018

Market Next Week
Upcoming Economic Events Calender
Time Currency Event Forecast Previous

Monday, October 8, 2018

7:15 CNY Caixin Services PMI (Sep) 51.5 51.5
Tuesday, October 9, 2018
4:31 GBP BRC Retail Sales Monitor (YoY) (Sep) 0.20%
Wednesday, October 10, 2018
14:00 GBP GDP (MoM) 0.30%
14:00 GBP Industrial Production (MoM) (Aug) 0.10% 0.10%
14:00 GBP Manufacturing Production (MoM) (Aug) 0.10% -0.20%
14:00 GBP Trade Balance (Aug) -10.90B -9.97B
14:00 GBP Trade Balance Non-EU (Aug) -3.10B -2.80B
18:00 USD Core PPI (MoM) (Sep) 0.20% -0.10%
18:00 USD PPI (MoM) (Sep) 0.20% -0.10%
Tentative GBP NIESR GDP Estimate 0.60%
Thursday, October 11, 2018
4:31 GBP RICS House Price Balance (Sep) 2%
16:50 USD OPEC Monthly Report
18:00 USD Core CPI (YoY) (Sep) 2.30% 2.20%
18:00 USD Core CPI (MoM) (Sep) 0.20% 0.10%
18:00 USD CPI (MoM) (Sep) 0.20% 0.20%
18:00 USD Initial Jobless Claims 206K 207K
20:30 USD Crude Oil Inventories 7.975M
23:30 USD Federal Budget Balance -214.0B
Friday, October 12, 2018
18:00 USD Export Price Index (MoM) (Sep) 0.20% -0.10%
18:00 USD Import Price Index (MoM) (Sep) 0.20% -0.60%
Tentative CNY Exports (YoY) (Sep) 9.10% 9.80%
19:30 USD Michigan Consumer Expectations (Oct) 90 90.5
Tentative CNY Imports (YoY) (Sep) 15.00% 19.90%
Tentative CNY Trade Balance (USD) (Sep) 21.00B 27.89B
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3
USDINR 29-Oct-18 77.0000 75.3500 74.6500 73.7500 73.0500 72.1500 70.5000
GBPINR 29-Oct-18 100.5500 98.4000 97.5000 96.2000 95.3000 94.0000 91.8500
JPYINR 29-Oct-18 67.6500 66.2500 65.6500 64.8500 64.2500 63.4500 62.0500
EURINR 29-Oct-18 87.3500 86.3000 85.8000 85.2000 84.7000 84.1000 83.0500
Continued…….
6 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018
Market Next Week

MCX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Aluminium 31-Oct-18 195.00 176.65 167.15 158.30 148.80 139.95 121.60

Copper 30-Nov-18 503.35 480.40 468.50 457.45 445.55 434.50 411.55

Crude Oil 19-Oct-18 6201 5857 5702 5513 5358 5169 4825

Gold 05-Dec-18 33306 32319 31981 31332 30994 30345 29358

Lead 31-Oct-18 158.95 153.85 150.85 148.75 145.75 143.65 138.55

Natural Gas 26-Oct-18 272.35 251.65 242.20 230.95 221.50 210.25 189.55

Nickel 31-Oct-18 1050.25 991.95 966.10 933.65 907.80 875.35 817.05

Silver 05-Dec-18 41506 40201 39738 38896 38433 37591 36286

Zinc 31-Oct-18 216.15 206.20 202.10 196.25 192.15 186.30 176.35

NCDEX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Castor Seed 16-Oct-18 4885 4761 4707 4637 4583 4513 4389

Chana 16-Oct-18 4473 4330 4277 4187 4134 4044 3901

Dhaniya 16-Oct-18 5004 4925 4882 4846 4803 4767 4688

COCUDAKL 20-Dec-18 1836.35 1759.35 1732.70 1682.35 1655.70 1605.35 1528.35

Guargum5 16-Oct-18 9576 9365 9238 9154 9027 8943 8732

Guarseed10 16-Oct-18 4497.15 4371.15 4299.30 4245.15 4173.30 4119.15 3993.15

Jeera 16-Oct-18 23207 20822 20008 18437 17623 16052 13667

RMseed 16-Oct-18 4266 4200 4158 4134 4092 4068 4002

Ref Soya Oil 16-Oct-18 785.05 767.30 760.10 749.55 742.35 731.80 714.05

Soyabean 16-Oct-18 3435 3329 3285 3223 3179 3117 3011

Turmeric 16-Oct-18 7495 7173 7059 6851 6737 6529 6207

Mentha Oil 31-Oct-18 1924.5 1815.5 1766.0 1706.5 1657.0 1597.5 1488.5

7 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018

MCX Fundamentals

BULLION

Gold prices held steady early Friday as investors remained cautious after U.S. Treas-
ury yields hit multi year peaks and ahead of monthly employment data which if
stronger could boost the Federal Reserves case for a tighter monetary policy. Spot
gold was flat at $1,199.20 an ounce at the time of writing. Spot gold was on track to
gain 0.6 percent for the week which would mark its biggest weekly gain since the
week of Aug. 24. U.S. gold futures rose 0.1 percent to $1,202.90 an ounce.

BASE METALS

London aluminium held its ground on Friday as worries over an alumina shortage
stoked cost inflation concerns sending prices towards the biggest weekly gain in
nearly six months. London Metal Exchange (LME) aluminium was little changed at
$2,167 a tonne down just 0.1 percent after hitting its loftiest since June at $2,267
the session before. Prices were on track for a 5.8 percent weekly rise the biggest
since April.

ENERGY

Oil prices rose on Friday as traders focused on U.S. sanctions against Iran's crude
exports that are set to start next month to tighten global markets. The gains
helped claw back some of the losses from the previous session due to rising U.S.
inventories and after Saudi Arabia and Russia said they would raise output to at
least partly make up for expected disruptions from Iran. The government an-
nounced a 10 percent hike in price of domestic natural gas a move that will trans-
late into higher CNG price and increased cost of electricity and urea production.

8 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018

NCDEX Fundamentals

SPICES
Markets found some immediate support at these lower levels for Jeer. Reports
from Gujarat indicate a below normal rain to adversely affect the sowing start-
ing later this month. As sowing seasons starts in a months time from now rains
in Gujarat and Rajasthan would be critical for the moisture content in the soil
for improved sowing. Turmeric started getting some immediate strong support
at these lower levels after the recent massive fall in pricesfactors could provide
support to the prices that have fallen a lot.

OILSEEDS
Mentha hit the upper circuit as strong fundamentals ruled the commodity.
Rising export demand amidst adverse reports on the production front are
likely to support prices in coming weeks. Winter season demand is expected
to pick up over the next few months on the domestic as well as the export
front.Strength in global markets and domestic soy bean was bullish for soya
oil but ahead of Indian/US harvest season of the soy bean crop not much of
upside is expected in edible oils especially soya oil.

GUAR COMPLEX
Prospects of fall in sowing area amidst reports of crop damage in Rajasthan
shall support prices in longer run. Rains in Rajasthan had earlier adversely af-
fected market sentiments leading to some fall in rates. However with low rains
reported in West Rajasthan and excess rains reported in East Rajasthan market
sources believe both these factors to be damaging for the crop.

OTHERS
Indian production of soy beans for 2018/19 is expected 300,000 tons lower
this month to 10.5 million. At 11.2 million hectares the area sown by Indian
farmers this year was less than anticipated. The domestic crush for soy bean
is forecast unchanged though so the crop reduction may repeat a low level of
season ending stocks in India. RM seed futures at NCDEX have stabilized in
recent weeks after impact of NAFED selling has been discounted completely.
Incoming months the projected decline in domestic mustard's sowing area
versus last year will be seen as a key bullish fundamental in broader term.
9 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018
Calls of the Week (MCX)
COPPER
Last week Copper made a high of 469.35 and closed at 456.55 with overall marginal gain of 0.79% on weekly basis. And
we can see from last couple trading weeks copper is trading in sideways trading channel with negative RSI and on its
four hourly chart Copper is forming lower highs formation indicating negative trend in it. For this week, if it breaks the
level of 450 on the lower side then it can test the level of 440 during the week. One can make sell position in it by
maintaining a SL at 456.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 450

Target 440

SL 456

LEAD
From last couple of trading weeks lead is trading in tight range of 150 to 147 and forming sideways trading range. On
its daily chart RSI moving in positive territory and printing above the level of 50 indicating short term positive move-
ment in it. Last week Lead made a high of 151.75 and closed at 147.90 with overall marginal loss of 0.24% on weekly
basis. For this week, if it breaks the level of 147 on the upper side then it can test the level of 150.50 during the week.
One can make buy position in it by maintaining a SL at 145.90.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 147

Target 150.50

SL 145.90

10 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018

Calls of the Week (NCDEX)
DHANIYA
Last week Dhaniya started a week on negative note but found enough support near the level of 5000 and getting
bounce back from lower level indicating strong support zone near the level of 5000. On its daily chart dhaniya is form-
ing higher highs and higher lows formation indicating positive trend in it. For this week, if it breaks the level of 5060 on
the upper side then it can test the level of 5195 during the week. One can make buy position in it by maintaining a SL
at 5007.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Below 5060

Target 5195

SL 5007

RMSEED
From last couple of trading weeks RMSEED is trading with negative sentiment and forming lower highs and lows forma-
tion on its daily chart indicating bearish trend in it. On its 4 hourly chart RSI is trading in negative territory and printing
below the level of 50 indicating short term negative movement in it. Last week RMSEED made a low of 4109 and closed
at 4117 with overall marginal loss of 1.53% on weekly basis. For this week, if it breaks the level of 4170 on the lower
side then it can test the level of 4040 during the week. One can make sell position in it by maintaining a SL at 4225.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Above 4170

Target 4040

SL 4225

11 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018

Calls of the Week (FOREX)
JPYINR
On its daily hourly chart JPYINR recently broken its downtrend channel and forming reversal formation on lower levels
indicating short term bounce back in it. Last week JPYINR made a high of 65.4550 and closed at 65.0675 with overall
marginal gain of 1.19% on weekly basis. On its daily chart market is supported by the level of 64.0000 and RSI still indi-
cating positive movement in it. For this week, if it breaks the level of 65.4600 on the upper side then it can test the
level of 65.9800 during the week. One can make buy position in it by maintaining a SL at 65.0975.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Below 65.4600

Target 65.9800

SL 65.0975

USDINR
The primary trend of USDINR is bullish on chart and from last couple of trading weeks USDINR is trading with positive
sentiment with positive RSI. Last week USDINR made a high of 74.4475 and closed at 74.0125 with overall marginal
gain of 1.72% on weekly basis. As last week we already USDINR broken its bullish flag pattern and sustaining above it
indicating bullish trend this week also. For this week, if it breaks the level of 74.4500 on the upper side then it can test
the level of 74.9800 during the week. One can make buy position in it by maintaining a SL at 74.0475.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 74.4500

Target 74.9800

SL 74.0475

12 Copyright © 2018 Ways2Capital. All rights reserved 08/10/2018

Disclaimer
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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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड द्वाया ननमुवत हैं | इस रयऩोटा भें व्मवत सबी ववचाय कंऩनी के फाये भें व्मक्वतगत ववचायों को
दशााता है औय कंऩननमों 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कंऩनी भें कोई ववत्तीम रुधच नहीं है औय न ही इस तयह की ववत्तीम टहत की
प्रकृनत 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कंऩनी की प्रनतबूनतमों भें एक प्रनतशत मा उससे अधधक के वास्तववक / पामदे भंद
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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड 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 ( ऺनतऩनू ता 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड की ऩॉलरसी अऩने ववश्रेषकों, ऩेशेवयों को ववश्रेषक के ऺेत्र भें ककसी बी कंऩनी की प्रनतबूनतमों के स्वाभी से ववश्रेषकों को रयऩोटा कयने से योकती है।
ववश्रेषक ऺनतऩूनता : ववश्रेषक हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने वऩिरे 12 भहीनों भें ववषम कंऩनी 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 कंऩनी 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने ववषम कंऩनी के अधधकायी, ननदे शक मा कभाचायी के रूऩ भें कबी बी काभ

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