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-18 151.80 149.55 150.50 145.50 147.05 -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%

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-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%
Currency Market Wrap-Up
Previous Change in
Currency Pair Contract Open High Low Close
Close Price (in%)
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%

Continued…….
2 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
Market Wrap-Up

International Market Wrap-up

Previous
Commodity Exchange Open High Low Close % Change in Price
Close
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%

3 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018

Inventory Updates

LME Inventory
Closing (As on 26th Oct 18) Closing (As on 19th Oct 18)
Commodity % Change in Price
In tones in tones

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%

Continued…….
4 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
Inventory Updates

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Market Next Week
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%
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3
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
Continued…….
6 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018
Market Next Week

MCX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

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

NCDEX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

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

7 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018

MCX Fundamentals

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

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.

ENERGY

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.

8 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018

NCDEX Fundamentals

SPICES
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.

OILSEEDS
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.

GUAR COMPLEX
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.

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.

9 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018

Calls of the Week (MCX)
ALUMINIUM
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 Buy

Entry Range Above 147.70

Target 152.70

SL 146.40

GOLD
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

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 31.780

Target 31352

SL 31911

10 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018

Calls of the Week (NCDEX)
COKUDAKL
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.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 1850

Target 1722

SL 1906

CHANA
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.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 4000

Target 4150

SL 3945

11 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018

Calls of the Week (FOREX)
JPYINR
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
WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 65.8000

Target 65.2525

SL 66.0025

USDINR
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.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Above 73.4000

Target 72.9125

SL 73.8025

12 Copyright © 2018 Ways2Capital. All rights reserved 29/10/2018

Disclaimer
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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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