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 30-Nov-18 139.30 139.65 140.00 135.80 136.65 -1.90% -51.46% 3.06%

Copper 30-Nov-18 442.90 441.50 448.70 428.75 429.85 -2.95% -46.31% 11.43%

Crude Oil 18-Dec-18 4,109 4,120 4,153 3,574 3,623 -11.83% -21.90% 11.51%

Gold 05-Dec-18 31007 31010 31040 30412 30495 -1.65% -59.12% -6.78%

Lead 30-Nov-18 143.7 143.00 144.50 136.00 137.1 -4.59% -63.18% 20.63%

Natural Gas 26-Dec-18 298.90 310.80 345.50 294.40 314.90 5.35% -50.96% -13.06%

Nickel 30-Nov-18 816.70 809.50 809.50 752.20 764.40 -6.40% -22.64% 10.82%

Silver 05-Dec-18 36991 37006 37090 35776 36061 -2.51% 15.41% 5.00%

Zinc 30-Nov-18 192.20 191.70 193.55 180.50 181.95 -5.33% -35.45% 3.07%

NCDEX Market Wrap-Up

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

Castor Seed 20-Dec-18 5970.00 5850.00 5914.00 5504.00 5642.00 -5.49% -45.87% 4.95%

Chana 20-Dec-18 4493.00 4504.00 4791.00 4436.00 4619.00 2.80% 61.49% -11.64%

Dhaniya 20-Dec-18 6458.00 6450.00 6664.00 6239.00 6239.00 -3.39% 59.07% 5.90%

COCUDAKL 20-Dec-18 2006.00 2007.00 2023.00 1911.00 1954.50 -2.57% -40.02% -14.06%

Guargum5 20-Dec-18 9660.00 9690.00 9722.00 8855.00 9136.00 -5.42% 4.94% -1.56%

Guarseed10 20-Dec-18 4648.50 4655.00 4684.50 4381.00 4461.00 -4.03% -28.45% -2.69%

Jeera 20-Dec-18 19645.00 19600.00 20090.00 19260.00 19405.00 -1.22% -24.45% -9.47%

RMseed 20-Dec-18 4139.00 4130.00 4142.00 4053.00 4095.00 -1.06% -18.18% -6.27%

Ref Soya Oil 20-Dec-18 732.70 735.90 737.85 720.10 733.15 0.06% -35.84% -11.89%

Soyabean 20-Dec-18 3389.00 3400.00 3441.00 3395.00 3423.00 1.00% -43.11% -4.07%

Turmeric 20-Dec-18 6518.00 6510.00 6546.00 6388.00 6482.00 -0.55% -16.76% -4.83%

Mentha Oil 30-Nov-18 1796.40 1770.00 1771.50 1589.50 1641.90 -8.60% 66.50% -16.42%
Currency Market Wrap-Up
Previous Change in
Currency Pair Contract Open High Low Close
Close Price (in%)
USDINR 27-Dec-18 72.2200 72.2975 72.3625 70.9125 71.0375 -1.64%

GBPINR 27-Dec-18 92.7125 92.8700 93.0400 90.9875 91.4125 -1.40%

JPYINR 27-Dec-18 63.9925 64.2675 64.4025 62.9725 63.0900 -1.41%

EURINR 27-Dec-18 82.0525 82.4475 82.8075 81.1050 81.3200 -0.89%

Continued…….
2 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018
Market Wrap-Up

International Market Wrap-up

Previous
Commodity Exchange Open High Low Close % Change in Price
Close
Aluminium LME 1946.70 1943.75 1962.50 1929.50 1942.25 -0.23%
Copper COMEX 2.791 2.786 2.846 2.742 2.752 -1.40%

Crude Oil NYMEX 56.83 57.00 57.58 50.16 50.42 -11.28%

Gold COMEX 1222.00 1222.10 1230.80 1218.40 1223.40 0.11%

Lead LME 2002.00 2002.00 2021.50 1946.75 1962.25 -1.99%

Natural Gas NYMEX 4.377 4.616 4.851 4.119 4.309 -1.55%

Nickel LME 11395.00 11397.50 11410.00 10737.50 10872.50 -4.59%

Silver COMEX 14.390 14.400 14.540 14.165 14.260 -0.90%

Zinc LME 2626.000 2607.00 2647.50 2490.50 2508.250 -4.48%

3 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018

Inventory Updates

LME Inventory
Closing (As on 23rd Nov 18) Closing (As on 16th Nov 18)
Commodity % Change in Price
In tones in tones

Aluminium 1070400 1058125 1.16%

Copper 143325 166450 -13.89%

Lead 108775 110900 -1.92%

Nickel 214962 216174 -0.56%

Zinc 123500 125400 -1.52%

Continued…….
4 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018
Inventory Updates

5 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018

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

Monday, November 26, 2018

15:00 GBP Gross Mortgage Approvals 38.5K

Tuesday, November 27, 2018

0:00 GBP BoE Gov Carney Speaks

2:00 GBP CFTC GBP speculative net positions -47.1K

2:00 USD CFTC S&P 500 speculative net positions 201.4K

Tentative USD OPEC Meeting

19:30 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Sep) 5.30% 5.50%

20:30 USD CB Consumer Confidence (Nov) 135.5 137.9

Wednesday, November 28, 2018

Tentative GBP BoE Financial Stability Report

19:00 USD GDP (QoQ) (Q3) 3.50% 3.50%

19:00 USD GDP Price Index (QoQ) (Q3) 1.40% 1.40%

19:00 USD Goods Trade Balance (Oct) -77.00B -76.25B

20:30 USD New Home Sales (Oct) 578K 553K

21:00 USD Crude Oil Inventories 4.851M

Thursday, November 29, 2018

19:00 USD Core PCE Price Index (MoM) (Oct) 0.20% 0.20%

19:00 USD Initial Jobless Claims 219K 224K

19:00 USD PCE Deflator (MoM) 0.20% 0.10%

19:00 USD Personal Spending (MoM) (Oct) 0.40% 0.40%

20:30 USD Pending Home Sales (MoM) (Oct) 0.50% 0.50%

Friday, November 30, 2018

0:30 USD FOMC Meeting Minutes

6:30 CNY Manufacturing PMI (Nov) 50.6 50.2

6:30 CNY Non-Manufacturing PMI (Nov) 53.9

12:30 GBP Nationwide HPI (MoM) (Nov) 0.10% 0.00%

12:30 GBP Nationwide HPI (YoY) (Nov) 1.60% 1.60%

Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3
USDINR 27-Dec-18 71.9500 72.9000 72.0000 71.4500 70.5500 70.0000 68.5500
GBPINR 27-Dec-18 92.4500 93.8500 92.6000 91.8000 90.5500 89.7500 87.7000
JPYINR 27-Dec-18 63.9000 64.9500 64.0500 63.5000 62.6000 62.0500 60.6500
EURINR 27-Dec-18 82.0500 83.4500 82.4000 81.7500 80.7000 80.0500 78.3500
Continued…….
6 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018
Market Next Week

MCX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Aluminium 30-Nov-18 138.85 141.70 139.20 137.50 135.00 133.30 129.10

Copper 30-Nov-18 435.55 455.70 442.75 435.75 422.80 415.80 395.85

Crude Oil 18-Dec-18 3960 4362 3993 3783 3414 3204 2625

Gold 05-Dec-18 30856 31277 30886 30649 30258 30021 29393

Lead 30-Nov-18 140.90 147.70 142.40 139.20 133.90 130.70 122.20

Natural Gas 26-Dec-18 307.40 369.35 342.10 318.25 291.00 267.15 216.05

Nickel 30-Nov-18 798.50 832.65 798.50 775.35 741.20 718.05 660.75

Silver 05-Dec-18 36758 37623 36842 36309 35528 34995 33681

Zinc 30-Nov-18 188.35 198.40 190.20 185.35 177.15 172.30 159.25

NCDEX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Castor Seed 20-Dec-18 6507 6097 5869 5687 5459 5277 4867

Chana 20-Dec-18 5325 4970 4795 4615 4440 4260 3905

Dhaniya 20-Dec-18 7231 6806 6522 6381 6097 5956 5531

COCUDAKL 20-Dec-18 2186.85 2074.85 2014.70 1962.85 1902.70 1850.85 1738.85

Guargum5 20-Dec-18 10972 10105 9620 9238 8753 8371 7504

Guarseed10 20-Dec-18 5115.85 4812.35 4636.70 4508.85 4333.20 4205.35 3901.85

Jeera 20-Dec-18 21245 20415 19910 19585 19080 18755 17925

RMseed 20-Dec-18 4275 4186 4140 4097 4051 4008 3919

Ref Soya Oil 20-Dec-18 765.85 748.10 740.60 730.35 722.85 712.60 694.85

Soyabean 20-Dec-18 3512 3466 3444 3420 3398 3374 3328

Turmeric 20-Dec-18 6788 6630 6556 6472 6398 6314 6156

Mentha Oil 30-Nov-18 2031.7 1849.7 1745.8 1667.7 1563.8 1485.7 1303.7

7 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018

MCX Fundamentals

BULLION

Gold prices traded on flat note on Thursday after rising to a two week high in the
previous session as the dollar slipped with uncertainty on the pace of interest rate
hikes by the U.S. Federal Reserve also supporting the metal. Spot gold traded at
$1,226.61 per ounce at the time of writing having hit its highest since Nov. 7 at
$1,230.07 in light trading ahead of the Thanksgiving holiday.The dollar has been
under pressure this week as cautious comments by Fed officials about a potential
global slowdown raised doubts on the pace of rate hikes.

BASE METALS

Copper prices slid and other base metals traded in narrow ranges on Thursday with
festering Sino U.S. trade tensions stoking worries over the outlook for global eco-
nomic growth. Trade conflict and higher interest rates are slowing the international
economy though there are no signs of a sharp downturn for now said the Organisa-
tion for Economic Cooperation and Development.

ENERGY

Oil prices dipped on Thursday after U.S. crude inventories increased to their high-
est level since December 2017 amid concerns of an emerging global glut although
an expected supply cut by producer cartel OPEC prevented further drops.U.S.
West Texas Intermediate (WTI) crude futures were at $53.38 per barrel at the
time of writing 25 cents or 0.5 percent below their last settlement.The Energy
Information Administration reported a deficit of 134 billion cubic feet in US natu-
ral gas inventories in the week ending November 16 compared to a build of 39
billion in the previous reading while analysts expected a draw down of 105 billion.

8 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018

NCDEX Fundamentals

SPICES
Market sentiments remained weak for Jeer as good sowing reports kept up
trend limited. However a rise in demand and falling arrivals at these lower lev-
els could support the falling rates for Jeer even as favourable cooler weather in
Gujarat and Rajasthan amidst reports of improved sowing kept pressure on
prices. Turmeric found immediate support at these lower levels even as lack of
strong demand limited the up trend amidst higher stocks in mandis. Good sow-
ing reports had kept sentiments negative. Traders though anticipate that with
prices at very low levels further fall may be limited.

OILSEEDS
After consecutive lower circuits Mentha started recovering as demand
started rising at these lower levels. Overall sentiments are likely to recover
during the winter season as market sources indicate the recent dips in prices
to be good Buying opportunities. Lack of selling offers and strength in cpo
markets helped soya oil to recover previous losses. Positive tone in soy bean
added to the tone. Despite the current weakness it has been noted during
previous weeks the buying interest in spot market improves significantly
whenever prices decline for two or more consecutive days.

GUAR COMPLEX
Trend weakened further for Guar as higher arrivals amidst lack of strong de-
mand in mandis kept pressure on prices. New crop arrival pressure continued
to weigh on market sentiments. Traders anticipate the demand to grow in
coming days on the export front. Prospects of lower production from less rains
received in Rajasthan supported prices.

OTHERS

Strength in other essential oil complex generative buying interest in the de-
rivative market. Selling intentions amongst stockists are currently subdued
and at prevailing lower rates mandi sellers are avoiding negotiations for fresh
deals. Up trend was limited in soy bean even as moderate recovery was
noted after morning dip. Reports of Govt initiating steps to purchase Oilseeds
at MSP likely to support prices for the Oil complex sector however.

9 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018

Calls of the Week (MCX)
SILVER
From last couple of trading days Silver is trading in negative sentiment and forming bearish flag pattern on lower side.
Last week Silver made a low of 35776 and closed at 36061 with overall marginal loss of 2.51% on weekly basis. On its
daily chart Silver has formed bearish flag pattern indicating negative trend in it for next week. For this week, if it breaks
the level of 36300 on the lower side then it can test the level of 35300 during the week. One can make sell position in it
by maintaining a SL at 36552.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 36300

Target 35300

SL 36552

ZINC

Last week Zinc made a low of 180.50 and closed at the level of 181.95 with overall marginal loss of 5.33% on weekly
basis. Zinc is continuously trading below the major resistance level of 200 and we can expect that market can go down
to the level of 170. Recently Zinc broken its support level and sustaining below it indicating negative trend in it. For this
week if it is break the level of 180.50 on lower side then it can test the level of 174.50. One can make sell position in it
with SL of 182.50.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 180.50

Target 174.50

SL 182.10

10 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018

Calls of the Week (NCDEX)
CHANA
From last couple of trading days Chana is trading with sideways trading range and consolidating on higher level. Last
week Chana made a high of 4791 and closed at the level of 4691 with overall marginal gain of 2.80% on weekly basis.
Technically Chana is trading above its resistance level of 4700 and we are expecting that market can continue its main
trend for this week also. For this week if it is break the level of 4760 on upper side then it can test the level of 4890.
One can make buy position in it with SL of 4698.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 4760

Target 4890

SL 4698

DHANIYA

From last couple of trading days Dhaniya trading with negative sentiment and unable to sustain above the major resis-
tance level of 6500. Last week Dhaniya made a low of 6239 and closed at the level of 6239 with overall marginal loss of
3.39% on weekly basis. Technically Dhaniya recently broken its head & shoulder pattern and sustaining below it indi-
cating correction movement in it . For this week if it is break the level of 6170 on lower side then it can test the level of
6030. One can make sell position in it with SL of 6225.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 6170

Target 6030

SL 6225

11 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018

Calls of the Week (FOREX)
JPYINR
Last week JPYINR Nov Futures started the week on negative note and continue the same for whole week, market
closed below its support level of 64.0000 and it closed at 63.0900 with the overall loss of 1.14 per cent on weekly basis.
Technically it consolidating below the major psychological support level of 65.0000 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 62.4600 on the lower,
then it can test the level of 62.0125 during the week. One can make sell position in it by maintaining a SL 62.7025.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 62.4600

Target 62.0125

SL 62.7025

USDINR
Last week USDINR Nov Futures started the week on negative note and made a low of 70.9125 and it closed at
71.037500 with the overall loss of 1.64 per cent on weekly basis. Technically it consolidating near support level of
70.0000 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 70.5400 on the downside, then it can test the level of 70.0525 during the week. One can
make sell position in it by maintaining a SL 70.8025.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 70.5400

Target 70.0525

SL 70.8025

12 Copyright © 2018 Ways2Capital. All rights reserved 27/11/2018

Disclaimer
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based on Ways2Capital Equity/Commodities Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended
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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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