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 28-Sep-18 150.10 149.35 150.40 145.30 147.20 -1.93% -4.61% -33.68%

Copper 30-Nov-18 423.80 422.50 429.40 414.30 422.60 -0.28% -33.06% -16.58%

Crude Oil 19-Sep-18 4,959 4,941 5,114 4,808 4,883 -1.53% 24.05% -8.73%

Gold 05-Oct-18 30129 30100 30700 30070 30494 1.21% -11.06% 13.89%

Lead 28-Sep-18 147.55 147.55 151.65 145.6 148.25 0.47% 25.48% -23.48%

Natural Gas 25-Sep-18 206.9 202.2 206.2 198.7 200.7 -3.00% 1.56% -19.25%

Nickel 28-Sep-18 909.3 907.9 914 879.6 888.7 -2.27% -20.62% -6.22%

Silver 05-Dec-18 37482 37450 37650 36641 37167 -0.84% -48.57% -0.01%

Zinc 28-Sep-18 176.10 175.25 178.85 172.70 173.85 -1.28% 8.55% -1.99%

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 4735.00 4730.00 4836.00 4705.00 4718.00 -0.36% -30.19% 10.05%

Chana 16-Oct-18 3969.00 3954.00 4080.00 3907.00 3980.00 0.28% -24.58% -8.13%

Dhaniya 16-Oct-18 5055.00 5040.00 5421.00 5037.00 5218.00 3.22% 221.30% 82.64%

COCUDAKL 20-Dec-18 1695.50 1685.00 1754.00 1676.00 1715.00 1.15% -31.78% -64.17%

Guargum5 16-Oct-18 9535.00 9540.00 9770.00 9280.00 9385.00 -1.57% -44.88% 1.56%

Guarseed10 16-Oct-18 4408.50 4410.00 4468.50 4280.00 4321.00 -1.98% -43.97% -2.77%

Jeera 16-Oct-18 19545.00 19500.00 19880.00 19335.00 19430.00 -0.59% 79.08% 4.15%

RMseed 16-Oct-18 4070.00 4076.00 4168.00 4049.00 4146.00 1.87% 115.65% -28.82%

Ref Soya Oil 16-Oct-18 739.75 741.20 752.90 740.50 743.50 0.51% 6.28% 9.48%

Soyabean 16-Oct-18 3222.00 3249.00 3326.00 3224.00 3238.00 0.50% 33.58% 9.96%

Turmeric 16-Oct-18 6868.00 6870.00 6870.00 6594.00 6620.00 -3.61% 142.46% -2.29%

Mentha Oil 28-Sep-18 1812.40 1790.00 1800.50 1656.10 1744.70 -3.74% -2.85% -27.70%
Currency Market Wrap-Up
Previous Change in
Currency Pair Contract Open High Low Close
Close Price (in%)
USDINR 26-Sep-18 71.1875 71.0975 72.2875 70.9025 71.8575 0.94%
GBPINR 26-Sep-18 92.5525 92.3400 93.6050 91.6125 93.4700 0.99%
JPYINR 26-Sep-18 64.2800 64.0000 65.3350 63.9800 64.8575 0.90%
EURINR 26-Sep-18 83.0550 82.6000 84.1425 82.3475 83.5800 0.63%

Continued…….
2 Copyright © 2018 Ways2Capital. All rights reserved 11/09/2018
Market Wrap-Up

International Market Wrap-up

Previous
Commodity Exchange Open High Low Close % Change in Price
Close
Aluminium LME 2119.75 2117.50 2123.50 2035.25 2060.25 -2.81%
Copper COMEX 2.663 2.648 2.654 2.564 2.603 -2.25%

Crude Oil NYMEX 69.91 69.89 71.40 66.86 67.75 -3.09%

Gold COMEX 1206.90 1199.30 1202.00 1189.90 1193.60 -1.10%

Lead LME 2088.25 2083.00 2130.75 2025.75 2059.75 -1.36%

Natural Gas NYMEX 2.921 2.900 2.904 2.759 2.776 -4.96%

Nickel LME 12815.00 12800.00 12855.00 12227.50 12335.50 -3.74%

Silver COMEX 14.575 14.450 14.450 13.960 14.067 -3.49%

Zinc LME 2461.50 2464.50 2482.50 2393.25 2403.70 -2.35%

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

Inventory Updates

LME Inventory
Closing (As on 7th Sep 18) Closing (As on 31st Aug 18)
Commodity % Change in Price
In tones in tones

Aluminium 1062700 1073050 -0.96%

Copper 254350 266450 -4.54%

Lead 121625 126225 -3.64%

Nickel 236706 240678 -1.65%

Zinc 235650 243825 -3.35%

Continued…….
4 Copyright © 2018 Ways2Capital. All rights reserved 11/09/2018
Inventory Updates

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

Market Next Week
Upcoming Economic Events Calender
Time Currency Event Forecast Previous
Monday, September 10, 2018
7:00 CNY CPI (MoM) (Aug) 0.50% 0.30%
7:00 CNY PPI (YoY) (Aug) 4.00% 4.60%
14:00 GBP GDP (MoM) 0.20% 0.10%
14:00 GBP Industrial Production (MoM) (Jul) 0.20% 0.40%
14:00 GBP Trade Balance Non-EU (Jul) -3.30B -2.86B
Tentative USD OPEC Meeting - -
Tentative GBP NIESR GDP Estimate 0.60%
18:30 GBP NIESR Monthly GDP Tracker 0.70% 0.50%
Tuesday, September 11, 2018
14:00 GBP Claimant Count Change (Aug) 10.0K 6.2K
14:00 GBP Employment Change 3M/3M (MoM) 27.0K 42.0K
14:00 GBP Unemployment Rate (Jul) 4.00% 4.00%
Wednesday, September 12, 2018
16:50 USD OPEC Monthly Report - -
18:00 USD Core PPI (MoM) (Aug) 0.20% 0.10%
18:00 USD PPI (MoM) (Aug) 0.20% 0.00%
20:00 USD Crude Oil Inventories -1.294M -4.302M
21:30 USD WASDE Report
Thursday, September 13, 2018
16:30 GBP BoE MPC vote cut (Sep) 0 0
16:30 GBP BoE Interest Rate Decision (Sep) 0.75% 0.75%
18:00 USD Core CPI (MoM) (Aug) 0.20% 0.20%
18:00 USD Core CPI (YoY) (Aug) 2.40% 2.40%
18:00 USD CPI (MoM) (Aug) 0.30% 0.20%
23:30 USD Federal Budget Balance (Aug) -156.5B -77.0B
Friday, September 14, 2018
7:30 CNY Industrial Production (YoY) (Aug) 6.20% 6.00%
7:30 CNY Chinese Unemployment Rate - 5.10%
18:00 USD Core Retail Sales (MoM) (Aug) 0.50% 0.60%
18:00 USD Import Price Index (MoM) (Aug) -0.20% 0.00%
18:00 USD Retail Sales (MoM) (Aug) 0.40% 0.50%
18:45 USD Industrial Production (MoM) (Aug) 0.30% 0.10%
19:30 USD Business Inventories (MoM) (Jul) 0.60% 0.10%
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3
USDINR 26-Sep-18 74.4500 73.1000 72.5000 71.7000 71.1000 70.3000 68.9500
GBPINR 26-Sep-18 96.9000 94.9000 94.2000 92.9000 92.2000 90.9000 88.9000
JPYINR 26-Sep-18 67.4000 66.0500 65.4000 64.7000 64.0500 63.3500 62.0000
EURINR 26-Sep-18 86.9500 85.1500 84.3500 83.3500 82.5500 81.5500 79.7500
Continued…….
6 Copyright © 2018 Ways2Capital. All rights reserved 11/09/2018
Market Next Week

MCX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Aluminium 28-Sep-18 157.85 152.75 150.00 147.65 144.90 142.55 137.45

Copper 30-Nov-18 452.30 437.20 429.90 422.10 414.80 407.00 391.90

Crude Oil 19-Sep-18 5547 5241 5062 4935 4756 4629 4323

Gold 05-Oct-18 31681 31051 30773 30421 30143 29791 29161

Lead 28-Sep-18 160.60 154.55 151.40 148.50 145.35 142.45 136.40

Natural Gas 25-Sep-18 216.85 209.35 205.00 201.85 197.50 194.35 186.85

Nickel 28-Sep-18 962.90 928.50 908.60 894.10 874.20 859.70 825.30

Silver 05-Dec-18 39171 38162 37664 37153 36655 36144 35135

Zinc 28-Sep-18 187.45 181.30 177.60 175.15 171.45 169.00 162.85

NCDEX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Castor Seed 16-Oct-18 5015 4884 4801 4753 4670 4622 4491

Chana 16-Oct-18 4335 4162 4071 3989 3898 3816 3643

Dhaniya 16-Oct-18 5993 5609 5414 5225 5030 4841 4457

COCUDAKL 20-Dec-18 1871.00 1793.00 1754.00 1715.00 1676.00 1637.00 1559.00

Guargum5 16-Oct-18 10458 9968 9677 9478 9187 8988 8498

Guarseed10 16-Oct-18 4733.50 4545.00 4433.00 4356.50 4244.50 4168.00 3979.50

Jeera 16-Oct-18 20638.35 20093.35 19761.70 19548.35 19216.70 19003.35 18458.35

RMseed 16-Oct-18 4359 4240 4193 4121 4074 4002 3883

Ref Soya Oil 16-Oct-18 770.45 758.05 750.80 745.65 738.40 733.25 720.85

Soyabean 16-Oct-18 3467 3365 3301 3263 3199 3161 3059

Turmeric 16-Oct-18 7247 6971 6795 6695 6519 6419 6143

Mentha Oil 28-Sep-18 2022.6 1878.2 1811.4 1733.8 1667.0 1589.4 1445.0

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

MCX Fundamentals

BULLION

Gold held on to a small loss from the previous session on Monday amid expecta-
tions of a U.S. Federal Reserve interest rate hike in September and fears of escalat-
ing trade tensions between the United States and China U.S. jobs growth acceler-
ated in August with wages notching their largest annual increase in nine years
strengthening views the economy was so far weathering the Trump administration
escalating trade war with China. The stronger than expected payrolls data ce-
mented expectations that the U.S. Fed will raise interest rates in September in
what would be its third hike this year.

BASE METALS

London copper was trading steady on Monday morning after it registered its second
weekly loss as an intensifying trade war between the United States and top metals
consumer China raised concerns over demand. For the week LME and Shanghai cop-
per are down 1.7 percent U.S. President Donald Trump has said he is prepared to
quickly ramp up the trade war with China and has told aides he is ready to impose
fresh tariffs on $200 billion worth of Chinese imports as soon as a public comment

period on the plan ends.

ENERGY

Oil prices rose on Monday as US drilling for new production stalled and as the
market eyed tighter conditions once Washington's sanctions against Iran's crude
exports kick in from November. US energy companies cut two oil rigs last week
bringing the total count to 860 energy services firm Baker Hughes said on Friday.
The Energy Information Administration released its report on US natural gas
stockpiles, showing a buildup of 63 billion cubic feet in the week ending August
31, adding to 70 billion in the previous week, while analysts expected a 60 billion
increase.

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

NCDEX Fundamentals

SPICES
Jeera traded sideways with no strong movement noted as Oct Jeer failed to
maintain above resistance levels. Low trading activities in mandis kept trend
sideways for Jeer. Due to better crop expectations traders expect lower levels
and firm Dollar could enhance export demand and support prices in coming
sessions.Trend remained weak for Turmeric as good sowing reports kept senti-
ments negative. Even as technical is still not very strongly positive there are
expectations of demand on the domestic and export front picking up with har-
vesting still time away.

OILSEEDS
Fresh buying interest in spot markets (at lower rates) turned positive for the
futures market and in coming sessions markets may look to recover soon as
demand is expected to pick up in mandis amidst falling arrivals as new crop
arrivals get over. Soya oil failed to trade with a positive bias during evening
session as global markets started trading on subdued note. However there
wasn’t any key bearish news. The edible oil market in recent months had
maintained a cautious stance over the start of the China U.S.

GUAR COMPLEX
Guar failed to maintain the higher levels as profit booking set in by the end of
the week. Recent moderate rains in Rajasthan limited the uptrend. However as
the bearish impact of rains gradually get over with prices on the lower side and
sowing period too nearing end, fall in prices may be limited from the monsoon
factor.

OTHERS
RM seed ended the week with strong gains. As understood from market talks
that selling intentions are poor and at prevailing lower ratesmandi sellers are
avoiding negotiations for fresh deals. This shall tend to keep futures prices
supported at every dip.Reviewing the current fundamentals ongoing trade
war between US and China will be seen as a positive news for domestic soy
meal export prospects in coming weeks/months. The recent import duty hike
on edible oils and expected significant rise in MSP for Kharif crops shall con-
tinue supporting futures market in near term.
9 Copyright © 2018 Ways2Capital. All rights reserved 11/09/2018
Calls of the Week (MCX)
ZINC
Zinc continuously trading above the support level of 170 and recently broken its downtrend channel on upper side.
Last week Lead made a high of 178.85 and closed at 173.85 with overall marginal loss of 1.28% on weekly basis. For
this week, if it breaks the level of 175 on the upper side then it can test the level of 182 during the week. One can
make buy position in it by maintaining a SL at 174.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 175

Target 182

SL 174

GOLD
From last couple of trading weeks Gold is trading with positive sentiment and we are expecting that market can con-
tinue the same trend for this week also. Last week Gold made a high of 30700 and closed at 30494 with overall mar-
ginal gain of 1.21% on weekly basis. On its daily chart Gold broken its resistance trend line and sustaining above it indi-
cating positive movement in it. For this week, if it breaks the level of 30650 on the upper side then it can test the level
of 30950 during the week. One can make buy position in it by maintaining a SL at 30578.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 30650

Target 30950

SL 30578

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

Calls of the Week (NCDEX)
CASTOR
From last couple of trading days Castor is trading with negative sentiment and we are expecting that market can con-
tinue the same trend for this week also. Last week Castor made a low of 4705 and closed at 4718 with overall marginal
loss of 0.36% on weekly basis. On its daily chart Castor is forming lower lows and lower highs formation indicating sell-
ing pressure in it. For this week, if it breaks the level of 4700 on the lower side then it can test the level of 4572 during
the week. One can make sell position in it by maintaining a SL at 4782.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 4700

Target 4572

SL 4782

COKUDAKL
From last couple of trading weeks COCUDAKL is trading in range and making lower highs on its daily chart. . Last week
COCUDAKL made a high of 1754 and closed at 1715 with overall marginal gain of 1.15% on weekly basis. On its daily
chart COCUDAKL is trading at support level of 1700 with negative RSI and we are expecting negative movement in it.
For this week, if it breaks the level of 1700 on the lower side then it can test the level of 1550 during the week. One
can make sell position in it by maintaining a SL at 1755.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 1700

Target 1550

SL 1755

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

Calls of the Week (FOREX)
JPYINR
Last week JPYINR made a high of 65.3350 and closed at 64.8575 with overall marginal gain of 0.90% on weekly basis.
The secondary trend of JPYINR is bearish on chart and market is continuously resist by the Bollinger band upper band
indicating correction from intra day to mid term basis. For this week, if it breaks the level of 65.0900 on the lower side
then it can test the level of 64.5125 during the week. One can make sell position in it by maintaining a SL at 65.4125.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 65.0900

Target 64.5125

SL 65.4125

USDINR
USDINR continuously trading above the major resistance level of 72.0000 and recently broken its bullish flag pattern
and sustaining above it indicating short term positive movement in it. Last week USDINR made a high of 72.2875 and
closed at 71.8575 with overall marginal gain of 0.98% on weekly basis. For this week, if it breaks the level of 72.8300
on the upper side then it can test the level of 73.3500 during the week. One can make buy position in it by maintaining
a SL at 72.4800.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 72.8300

Target 73.3500

SL 72.4800

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

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 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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