HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

Market Wrap-Up

MCX Market Wrap-Up

Previous % Change in % Change in % Change
Commodity Contract Open High Low Close
Close Price Open Interest in Volume
Aluminium 30-Apr-18 130.30 131.30 133.30 128.30 133.00 2.07% -10.21% 220.95%
Copper 30-Apr-18 436.80 439.90 443.50 428.60 438.25 0.33% -4.94% 47.36%
Crude Oil 19-Apr-18 4234 4246 4255 4015 4029 -4.84% -14.83% 92.21%
Gold 05-Jun-18 30552 30650 31120 30500 30694 0.46% -12.30% 129.03%
Lead 30-Apr-18 156.75 157.20 157.75 153.10 155.55 -0.77% 13.01% 101.11%
Natural Gas 25-Apr-18 179.40 178.50 179.90 172.80 175.90 -1.95% 19.62% 1.14%
Nickel 30-Apr-18 868.90 872.20 886.50 841.60 860.90 -0.92% -11.15% 84.34%
Silver 04-May-18 38322 38378 39054 37940 38235 -0.23% 8.57% 241.90%
Zinc 30-Apr-18 213.70 214.70 215.25 208.15 211.30 -1.12% -4.64% 99.94%

NCDEX Market Wrap-Up

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

Castor Seed 18-May-18 4184 4185 4245 4120 4151 -0.79% 35.11% 82.51%

Chana 18-May-18 3788 3771 3850 3765 3826 1.00% 10.43% -14.12%

Dhaniya 18-May-18 5068 5070 5440 5055 5283 4.24% 2.79% -3.99%

Cottonseed Oil
18-May-18 1405.00 1410.00 1445.00 1388.00 1396.50 -0.60% 15.66% -18.20%
Cake

Guargum5 18-May-18 8924 8928 9065 8801 8889 -0.39% 0.11% -49.12%

Guarseed10 18-May-18 4146.00 4163.00 4185.00 4075.00 4128.50 -0.42% -1.28% -31.79%

Jeera 18-May-18 15010 15050 15755 14910 15405 2.63% -5.11% 58.05%

Kapas 30-Apr-18 894.50 904.00 938.50 903.00 925.50 3.47% -15.22% 50.43%

RMseed 18-May-18 4054 4106 4140 3985 3994 -1.48% 28.56% 39.39%

Ref Soya Oil 18-May-18 786.85 795.85 797.95 782.60 786.25 -0.08% -6.34% -10.32%

Soyabean 18-May-18 3798 3811 3955 3799 3876 2.05% 0.55% 113.38%

Turmeric 18-May-18 6694 6660 6670 6480 6524 -2.54% 7.45% 23.08%

Mentha Oil 30-Apr-18 1305.50 1338.00 1473.00 1338.00 1419.60 8.74% -17.75% -71.80%

Currency Market Wrap-Up

Previous Change in
Currency Pair Contract Open High Low Close
Close Price (in%)
USDINR 26-Apr-18 65.3600 65.2475 65.3550 65.0250 65.0900 -0.41%
GBPINR 26-Apr-18 92.5250 91.9700 91.9900 91.1625 91.2650 -1.36%
JPYINR 26-Apr-18 61.7550 61.7000 61.7075 60.6775 60.7150 -1.68%

EURINR 26-Apr-18 81.1075 80.4100 80.7000 79.6925 79.7625 -1.66%

Continued…….
2 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018
Market Wrap-Up

International Market Wrap-up

Previous
Commodity Exchange Open High Low Close % Change in Price
Close
Aluminium LME 2004.75 2014.25 2061.75 1978.25 2061.25 2.82%
Copper COMEX 3.019 3.049 3.087 2.970 3.038 0.63%
Crude Oil NYMEX 64.94 64.89 65.42 61.81 61.92 -4.65%
Gold COMEX 1327.30 2316.20 1352.30 1323.20 1337.00 0.73%
Lead LME 2396.75 2397.50 2419.75 2349.50 2385.00 -0.49%
Natural Gas NYMEX 2.733 2.729 2.760 2.651 2.699 -1.24%
Nickel LME 13380.00 13462.50 13642.50 12942.50 13262.50 -0.88%
Silver COMEX 16.22 16.34 16.67 16.15 16.36 0.86%
Zinc LME 3277.50 3284.75 3294.25 3193.50 3252.50 -0.76%

3 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018

Inventory Updates

LME Inventory
Closing In Tonnes Closing In Tonnes
Commodity % Change in Price
(As on 6th April 2018) (As on 29th Mar 2018)

Copper 372850 388175 -3.95%

Nickel 318432 322236 -1.18%

Lead 129150 129800 -0.50%

Zinc 207325 209550 -1.06%

Aluminium 1265350 1261625 0.30%

Continued…….
4 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018
Inventory Updates

5 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018

Market Next Week
Economic Events Calendar
Time Currency Event Forecast Previous
Monday, April 9, 2018
13:00 GBP Halifax House Price Index (MoM) (Mar) 0.20% 0.40%
13:00 GBP Halifax House Price Index (YoY) (Mar) 2.10% 1.80%
Tuesday, April 10, 2018
4:31 GBP BRC Retail Sales Monitor (YoY) (Mar) - 0.60%
18:00 USD Core PPI (MoM) (Mar) 0.20% 0.20%
18:00 USD PPI (MoM) (Mar) 0.10% 0.20%
21:30 USD WASDE Report
Wednesday, April 11, 2018
7:00 CNY CPI (MoM) (Mar) -0.50% 1.20%
7:00 CNY CPI (YoY) (Mar) 2.60% 2.90%
7:00 CNY PPI (YoY) (Mar) 3.20% 3.70%
14:00 GBP Industrial Production (MoM) (Feb) 0.30% 1.30%
14:00 GBP Manufacturing Production (MoM) (Feb) 0.20% 0.10%
14:00 GBP Trade Balance (Feb) -11.90B -12.33B
18:00 USD Core CPI (YoY) (Mar) 2.10% 1.80%
18:00 USD Core CPI (MoM) (Mar) 0.20% 0.20%
18:00 USD CPI (MoM) (Mar) 0.10% 0.20%
20:00 USD Crude Oil Inventories 0.246M -4.617M
23:30 USD Federal Budget Balance (Mar) -186.0B -215.0B
23:30 USD FOMC Meeting Minutes - -
Thursday, April 12, 2018
16:50 USD OPEC Monthly Report - -
18:00 USD Export Price Index (MoM) (Mar) 0.20% 0.20%
18:00 USD Import Price Index (MoM) (Mar) 0.20% 0.40%
18:00 USD Initial Jobless Claims 230K 242K
Friday, April 13, 2018
Tentative CNY Exports (YoY) (Mar) 10.00% 44.50%
Tentative CNY Imports (YoY) (Mar) 10.00% 6.30%
18:30 USD FOMC Member Bullard Speaks - -
19:30 USD JOLTs Job Openings (Feb) 5.890M 6.312M
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3

USDINR 26-Apr-18 65.1000 65.0500 65.2000 65.1500 65.3000 65.4000 64.6000

GBPINR 26-Apr-18 91.7000 91.4000 91.7000 91.4500 91.7000 91.7500 88.6500
JPYINR 26-Apr-18 61.3500 61.0000 61.3500 61.0000 61.3500 61.3500 59.3500
EURINR 26-Apr-18 79.9500 79.8000 80.2500 80.1000 80.5500 80.8500 79.1500

Continued…….
6 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018
Market Next Week

MCX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Aluminium 30-Apr-18 141.55 136.55 134.80 131.55 129.80 126.55 121.55

Copper 30-Apr-18 466.6 451.7 445 436.8 430.1 421.90 407.00

Crude Oil 19-Apr-18 4580 4340 4184 4100 3944 3860 3620

Gold 5-Jun-18 32011 31391 31043 30771 30423 30151 29531

Lead 30-Apr-18 164.75 160.1 157.8 155.45 153.15 150.80 146.15

Natural Gas 25-Apr-18 190.4 183.3 179.6 176.2 172.5 169.10 162.00

Nickel 30-Apr-18 953 908 884 863 840 818 773

Silver 4-May-18 40638 39524 38879 38410 37765 37296 36182

Zinc 30-Apr-18 225.75 218.65 214.95 211.55 207.85 204.45 197.35

NCDEX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Castor Seed 18-May-18 4422 4297 4224 4172 4099 4047 3922

Chana 18-May-18 3984 3899 3862 3814 3777 3729 3644

Dhaniya 18-May-18 6029 5644 5464 5259 5079 4874 4489

Cottonseed Oil Cake 18-May-18 1524 1467 1432 1410 1375 1353 1296

Guargum5 18-May-18 9446 9182 9036 8918 8772 8654 8390

Guarseed10 18-May-18 4350 4240 4184 4130 4074 4020 3910

Jeera 18-May-18 17047 16202 15803 15357 14958 14512 13667

Kapas 30-Apr-18 993 958 942 922 906 887 851

RMseed 18-May-18 4350 4195 4094 4040 3939 3885 3730

Ref Soya Oil 18-May-18 820 804 795 789 780 774 758

Soyabean 18-May-18 4189 4033 3954 3877 3798 3721 3565

Turmeric 18-May-18 6938 6748 6636 6558 6446 6368 6178

Mentha Oil 30-Apr-18 1680 1545 1482 1410 1347 1275 1140

7 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018

MCX Fundamentals

BULLION

Gold futures rose nearly one percent in American trade away from March 29 lows
as the dollar index fell off early March highs following earlier data from the US the
world's largest economy and ahead of a speech by Fed Chair Jerome Powell later
today. USChina trade tensions grew yet more after President Donald Trump di-
rected his trade officials to look into imposing tariffs on $100 billion of additional
Chinese imports.

BASE METALS

Base metals prices on the London Metal Exchange are for the most part weaker
this morning Friday April 6, following further announcements from the White
House of increased tariffs against China.The main movers are nickel (-1.2%), cop-
per (-0.9%) at $6,755 per tonne lead (-0.7%) and zinc (-0.5%) while tin and alumin-
ium are little changed.Volume remains light with 2,931 lots traded as of 07.31 am
London time this as China remains on holiday to mark the Qing Ming Festival or
tombsweeping day.

ENERGY

Oil futures fell nearly two percent in American trade even as the dollar index fell as
well off early March highs following earlier data from the US the world's largest
energy consumer while Federal Reserve governor Jerome Powell is scheduled to
speak about the economic outlook at the Economic Club of Chicago later today.
Natural gas futures fell nearly two percent in American trade as the dollar index
gained ground following earlier data from the US, the world's largest energy con-
sumer including the EIA report that showed another inventory draw down for the
sixteenth week in a row.

8 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018

NCDEX Fundamentals

SPICES

Jeer rates found strong support at the lower levels as demand started rising in
the mandis amidst falling arrivals. There could be moderate recovery in prices
by end of the week.
Sideways trend persisted for Turmeric as prices are looking to find some sup-
port at these lower levels. Low trading activities in mandis kept pressure on
prices last week. Prices faced strong resistance near the 7000 mark. However
falling arrivals amidst rise in demand at these lower levels are likely to support

OIL & OILSEEDS

Prices continued shooting up for Mentha oil as fundamentals remained

strong. MCX imposed 5% additional margin on the Buy and sell side w.e.f.
April 5, 2018. Rising demand at the lower levels supported prices after the
recent strong fall in prices. However traders do not expect further fall from
these levels with demand set to pick up at these lower rates and a firm
trend can be expected.

GUAR COMPLEX

Trend remained slight weak for Guar but prices did seem to find immediate
support at these lower levels. Normal monsoon predictions by Skymet good
for Guar sowing prospects from June onwards. Also with IMDs recent bulletin
on possibilities of good Monsoon this year any recovery looks limited for
now.

OTHERS
With China imposing 25% duty on cotton from US, this had a bearish impact
on cotton prices as markets fell drastically. However markets are likely to find
very strong support at these lower levels and are likely to bounce back
strongly as International markets recover strongly amidst reports of a fall in
Indian production from earlier estimates.
The futures contracts ended on easy note tracking bearish fundamentals.
Spot demand remains subdued currently against improving arrival prospects
and ample supplies of the old season crop lying with the stockists.
9 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018
Calls of the Week (MCX)

COPPER

From last couple of trading week market is trading in range of 440 to 430 and on its short term chart Copper is forming
inverted H&S Formation indication positive trend for short term to midterm basis. It made a high of 443.50 during the
week and closed at 438.25 with the overall gain of 0.33% on weekly basis. Technically for this week, we can expect
positive movement in it as it is forming higher highs and higher lows formation. For this week, if it breaks the level of
442 then it can test the level of 452 during the week. One can make buy position in it by maintaining a SL 437

WEEKLY STRATEGY

PERTICULAR DETAILS

Action BUY

Entry Range Above 442

Target 452.00

SL 437.00

LEAD
Last week Lead Apr Futures started the week on negative and then on Friday found strong support zone near the level
of 153 and bounced back to the level of 155. It made a low of 153.10 during the week and closed at 155.55 with the
overall of loss of 0.77% on weekly basis. Technically for this week, we can expect positive movement in its forming
positive divergence on the in RSI and sustaining above the support trend line. For this week, if it breaks the level of 156
then it can test the level of 158 during the week. One can make Buy position in it by maintaining a SL 155.

WEEKLY STRATEGY

PERTICULAR DETAILS

Action BUY

Entry Range Above 156

Target 158.00

SL 155.00

10 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018

Calls of the Week (NCDEX)
CASTORSEED

Last week Castor Seed May Futures started the week on positive note but found enough resistance at the level of 4200
and continued the negative trend for the entire week. It made a low of 4120 during the week and closed at 4151 with
the overall of loss of 0.79% on weekly basis. Technically for this week, we can expect downside movement in its form-
ing negative divergence on the in RSI and sustaining below the support level breakout. For this week, if it breaks the
level of 4100 then it can test the level of 3970 during the week. One can make sell position in it by maintaining a SL
4179.
WEEKLY STRATEGY

PERTICULAR DETAILS

Action Sell

Entry Range Below 4100

Target 3970

SL 4179

CHANA

From last couple of trading weeks market is trading with positive note as the level of 3600 acted as a strong support
zone and we can see market is getting bounce back from lower level. It made a high of 3850 during the week and
closed at 3826 with the overall of gain of 01% on weekly basis. Technically for this week, we can expect positive move-
ment in its forming bottom formation and sustaining above support level of 3700. For this week, if it breaks the level of
3850 then it can test the level of 3980 during the week. One can make buy position in it by maintaining a SL 3785.

WEEKLY STRATEGY

PERTICULAR DETAILS

Action Buy

Entry Range Above 3850

Target 3980

SL 3785

11 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018

Calls of the Week (FOREX)
JPYINR

Last week JPYINR Apr Futures started the week on negative note and continued the same for the entire week. It made
a low of 60.6775 during the week and closed at 60.7150 with the overall loss of 1.68% on weekly basis. Technically for
this week, we can expect downside movement in it as it sustaining near to major support level of 60.6200 with the
negative RSI. For this week, if it breaks the level of 60.6200 then it can test the level of 60.1025 during the week. One
can make sell position in it by maintaining a SL 60.9125
WEEKLY STRATEGY

PERTICULAR DETAILS

Action Sell

Entry Range Below 60.6200

Target 60.1025

SL 60.9125

EURINR

Last week EURINR Apr Futures started the week on negative note and continued the same for the entire week. It made
a low of 79.6225 on the last day of the week and closed at 79.7625 with the overall of loss of 1.66% on weekly basis.
Technically for this week, we can expect downside movement in its forming negative divergence on the in RSI and sus-
taining below the support level breakout. For this week, if it breaks the level of 79.8000 then it can test the level of
79.3125 during the week. One can make sell position in it by maintaining a SL 80.0200.
WEEKLY STRATEGY

PERTICULAR DETAILS

Action Sell

Entry Range Below 79.8000

Target 79.3125

SL 80.0200

12 Copyright © 2018 Ways2Capital. All rights reserved 09/04/2018

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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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 प्रनतबनू तमां औय ऺनतऩनू ता (भआ
ु वजे) का कोई टहस्सा, मा इस शोध रयऩोटा भें ननटहत ववशेष सझ
ु ावों 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 अनस
ु ंधान 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 |
(a) 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,
(फ) 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 |
(a) 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 ( ऺ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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड की ऩॉलरसी अऩने ववश्रेषकों, ऩेशव
े यों को ववश्रेषक के ऺेत्र भें ककसी बी कंऩनी की प्रनतबूनतमों के स्वाभी से ववश्रेषकों को रयऩोटा कयने से योकती है ।
ववश्रेषक ऺनतऩनू ता : 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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