MCX DAILY LEVELS

DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

29 JUL 2016

114.80

113.80

112.70

112.25

111.65

111.20

110.60

109.60

108.50

COPPER

31 AUG 2016

359.40

350.10

340.80

337

331.50

327.70

322.20

312.90

303.60

CRUDE OIL

19 JUL 2016

3472

3404

3336

3303

3268

3235

3200

3132

3064

GOLD

05AUG 2016

32437

32102

31767

31615

31432

31280

31097

30762

30427

LEAD

29 JUL 2016

135.15

131.40

127.65

126.35

123.90

122.60

120.20

116.40

112.70

NATURALGAS

26 JUL 2016

215.80

210

204.20

201.70

198.40

195.90

192.60

186.80

181

NICKEL

29 JUL 2016

760.60

727.80

695

683.10

662.20

650.30

629.40

596.60

563.80

SILVER

05 JUL 2016

49637

47733

47068

45829

45164

43925

42021

40117

ZINC

29 JUL 2016

151.80

147.95

146.15

144.10

142.30

140.25

136.40

132.55

51541

155.65

MCX WEEKLY LEVELS

WEEKLY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

29 JUL 2016

121.20

117.75

114.30

113

110.90

109.60

107.40

104

100.50

COPPER

31 AUG 2016

371.80

357.90

343.90

338.50

330

324.60

316

302.10

288.10

CRUDE OIL

19 JUL 2016

3927

3702

3477

3374

3252

3149

3027

2802

2577

GOLD

05 AUG 2016

33271

32662

32053

31758

31444

31149

30835

30226

29617

LEAD

29 JUL 2016

150

140.70

131.40

128.20

122.10

118.90

112.80

103.50

94.20

NATURALGAS

26 JUL 2016

251.90

132.70

213.50

206.30

194.30

187.10

175.10

155.90

136.70

NICKEL

29 JUL 2016

838

776.20

714.40

692.70

652.60

630.90

590.80

529

497.20

SILVER

05 JUL 2016

56565

52777

48989

47696

45201

43908

41413

37625

33837

ZINC

29 JUL 2016

172.45

162.30

152.15

148.25

142

138.10

131.85

121.70

111.55

Monday, 04 July 2016

WEEKLY MCX CALL

SELL NATURAL GAS J UL B ELOW 189 TGT 183 SL 195
PREVIOUS WEEK CALL
B UY ZINC J UL AB OVE 137.50 TGT 140.50 SL 134.50 - TGT ACHEIVED.

FOREX DAILY LEVELS

DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

USDINR

27 JUL 2016

68.20

68

67.85

67.70

67.65

67.55

67.45

67.30

67.10

EURINR

27 JUL 2016

76.20

75.85

75.50

75.35

75.15

75

74.80

74.50

74.10

GBPINR

27 JUL 2016

93

92.05

91.10

90.60

90.20

89.65

89.30

88.35

97.40

JPYINR

27 JUL 2016

66.75

66.50

66.20

66.05

65.90

65.80

65.65

65.35

65.10

FOREX WEEKLY LEVELS

DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

USDINR

27 JUL 2016

70.4
0

69.55

68.70

68.15

67.85

67.30

67

66.20

65.35

EURINR

27 JUL 2016

77.7
5

76.95

76.15

75.70

75.30

74.85

74.50

73.70

72.85

GBPINR

27 JUL 2016

97.3
0

95.10

92.85

91.45

90.65

89.20

88.40

86.20

83.95

JPYINR

27 JUL 2016

72.4
0

70.45

68.45

67.20

66.50

65.20

64.50

62.50

60.55

WEEKLY FOREX CALL

B UY JPYINR J UL ABOVE 66.32 TGT 67.12 SL 66.02
PREVIOUS WEEK CALL
SELL US DINR J UL B ELOW 67.88 TGT 67.30 SL 68.51 - MA DE LOW OF 67.5850

NCDEX DAILY LEVELS

DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

SYOREFIDR

20 OCT 2016

657

653

649

647

645

643

641

637

633

SYBEANIDR

20 OCT 2016

4123

4028

3933

3888

3838

3793

3743

3648

3553

RMSEED

19 AUG 2016

4970

4935

4900

4880

4865

4845

4830

4795

4760

JEERAUNJHA

19 AUG 2016

20025

19350

18685

18255

18015

17585

17345

16470

16000

TMC

20 JUL 2016

8500

8450

8400

8350

8300

8250

8200

8150

8100

GUARSEED

20 JUL 2016

3350

3320

3290

3260

3230

3200

3170

3140

3110

NCDEX WEEKLY LEVELS

WEEKLY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

SYOREFIDR

20 JUL 2016

679

668

657

651

646

640

635

624

613

SYBEANIDR

20 OCT 2016

4371

4183

3995

3919

3807

3731

3619

3431

3243

RMSEED

19 AUG 2016

5168

5059

4950

4905

4841

4796

4732

4623

4514

JEERAUNJHA

19 AUG 2016

21075

20095

19100

18465

18125

17485

17135

16155

15168

TMC

20 JUL 2016

8800

8650

8500

8400

8290

8180

8080

7970

7850

GUARSEED

20 JUL 2016

3450

3390

3340

3290

3240

3190

3140

3100

3050

WEEKLY NCDEX CALL

SELL RM S EED J UL B ELOW 4729 TGT 4648 SL 4811
PREIOUS WEEEK CALL
SELL GUARS EED J UL B ELOW 3050 TGT 2950 SL 3151 - NOT EXECUTE D.

MCX - WEEKLY NEWS LETTERS

SPDR Gold Trust GLD, the world's largest gold-backed exchangetraded fund, said its holdings stood
Holdings of the largest silverbacked exchange-traded- fund (ETF), New York's iShares Silver Trust
SLV, stood at 10374.41 tonnes, remain unchanged from previous business day.
Silver's price charts are signalling further gains after it rallied to near two- year highs on Friday on a
combination of rebounding appetite for industrial assets, and rising demand for bullion after last
week's shock Brexit vote.
After the Philippines became the top supplier of nickel ore to China in the last two years, its
struggling mining industry may have felt like it was turning a corner. But hope in the industry of
getting an easier ride exploiting minerals in a country with a stro ng anti- mining lobby now looks
misplaced with the new administration of President Rodrigo Duterte sending tough messages on
mining.

BULLION
Gold prices continued to trade higher in Asian trading hours on Monday with spot COMEX prices trading at
$1347/ounce after hitting an early morning high of $1357.5/ounce. Earlier prices ended higher by 1.45 % on
Friday on expectations of accommodative monetary policies around the world. In US data released last Friday,
the ISM manufacturing PMI for June came in at 53.2, above forecast of 51.3, while the final manufacturing PMI
for June was at 51.3 , slightly lower than market consensus of 51.4 Holdings in SPDR Gold Trust, the world's
largest gold-backed exchange-traded fund, rose 0.41 percent to 953.91 tonnes on Friday, the highest since July
2013. Gold speculator and large futures traders continued to push their gold bullish positions higher last week
for a fourth consecutive week, according to the latest Commitment of Traders (COT) data released by the
Commodity Futures Trading Commission (CFTC) on Friday . The noncommercial futures contracts of Comex
gold futures, traded by large speculators and hedge funds, totaled a net position of +301,920 contracts in the data
reported through June 28th. This was a weekly change of +9,191 contracts from the previous weeks total of
+292,729 net contracts that was registered on June 21st.Bank of England Governor Mark Carney said the central
bank would probably need to pump more stimulus into Britain's economy over the summer. The gold-silver
ratio, which measures the number of silver ounces needed to buy an ounce of gold, fell to its lowest in 13 months
at 70.4. Weakness in the dollar index and investor appetite for safe assets remained strong because of longerterm financial uncertainty after Britain's surprise vote to leave the European Union. On the MCX, gold prices
rose by 0.2 percent to close at Rs.31463 per 10 gms last week.

ENERGY
Natural gas extended its rally during the week ended on 1st July 2016 on hot weather forecast across US
supported by decline in inventories.NYMEX natural gas prices rose by 1.4 percent on Thursday to close at $2.89
per MMbtu while MCX gas prices rose by 2.02 percent to close at Rs.197.30 per MMbtu. The injection season
continue to gather pace with addition of inventories, although incremental demand for gas remains a cause of
concern.
Crude oil futures traded on a positive note on last Friday recouping from earlier losses.

Tightening global crude oil market supported the crude oil futures to end the week on a positine note. Nymex
WTI crude oil futures for Aug delivery closed the day at $49.28 per barrel while MCX crude oil futures for July
expiry settled at Rs. 3271 per barrel.oil prices rose by 2.8 percent last week to close at $49 per barrel Fading
concerns over the so-called Brexit, potential for an oil workers' strike in Norway and a crisis in Venezuela's
energy sector were among factors supporting Wednesday's rally. Production in Nigeria has risen to about 1.9
million barrels per day (bpd) from 1.6 million, due to repairs and a lack of new major attacks on pipelines in the
Delta region, the state oil company said on Monday. OPEC's oil output rose in June to its highest in recent
history, a Reuters survey showed, as Nigeria's output partially recovers from militant attacks and Iran and Gulf
members boost supplies.

BASE METAL
Growth in China's manufacturing sector stalled in June, an official survey showed on Friday, adding to
expectations that Beijing will have to roll out more stimulus soon to boost the sluggish economy Asian shares
shrugged off early losses and edged higher on Monday, while the Australian dollar was under pressure after no
clear winner emerged from a weekend election. The new Philippine mining ministe r, a committed
environmentalist, announced plans on Friday to review all mines operating in the country, the biggest supplier of
nickel ore to China. Bank of England Governor Mark Carney said on Friday that, the central bank would
probably need to pump more stimulus into Britain's economy over the summer after the shock of last week's
decision by voters to leave the European Union.
Copper prices gained by 1.13% and ended at $4,905.50/MT at LME and gained by 0.77% at MCX
and ended its day at Rs.333.60/kg. Copper Stocks declined by 1.25% while cancelled warrants also declined by
5.20% which had a mixed impact on prices. Adani planning to establish a copper smelter with $1.5 billion in
western state of Gujarat.China may add 4% refined copper production at a slower pace than in 2015 and also
planning to increase the global supply by 2020 to 43.5%. Perus shipment in first 3 months of Chinas copper
surged 93% of total imports crossing Chile.Further, data from the London Metal Exchange showed mo ney
managers had reduced their short position in copper to just over 86,600 lots on Friday, down from 107,600 lots a
week before.
Nickel prices gained by 5.47% and ended its trading at $9,935/MT at LME and at MCX it gained 5.04%
and traded at Rs.671.10/kg. Nickel Stocks went up by 0.06% and cancelled warrants also went up by 4.18%, this
had a mixed impact on prices. LME nickel prices touched 2 months high on Friday. Nickel ETF strengthened
after Philippines ordered to review its existing mines and its effects .
Aluminium prices yesterday gained by 0.67% on LME ending its day at $1,658/MT and gained by 0.40%
at MCX it was flat; ending its day at Rs.111.75/kg. Aluminum, Stocks declined by 0.24% and cancelled warrants
also declined by 0.61%, which has mixed impact on prices. For aluminium, there was support as industrial firms
in China increased their purchases of the metal in liquid form, creating a shortage of ingots, the form of the
metal which drives prices.

NCDEX - WEEKLY NEWS LETTERS

Monsoon update - Monsoon has come down to 9 per cent after several parts of the country received a
good amount of rainfall. From June 1 to July 2, the country has received 164.9 mm of rainfall against
the normal limit of 180 mm, the India Meteorological Department (IMD) said, adding that the
situation is expected to improve as good rainfall is predicted in July, August and September. But the
rainfall deficiency in east and northeast India has risen to 28 per cent as the region has received only

274 mm of rainfall as against the normal limit of 381 mm, the agency said. According to the IMD,
monsoon deficiency in central India is around 12 per cent. Per the departments predictions, other
parts of the country are expected to receive good rainfall but the east and northeast and parts of Tamil
Nadu are likely to get less precipitation.

The National Commodity and Derivatives Exchange (NCDEX) is preparing to approach the capital
markets regulator for permission to relaunch its castor seed contracts suspended five months ago. The
agri-commodity- focused exchange is also planning to increase its share in metal commodities
trading.In January, NCDEX suspended castor seed contracts expiring in February and beyond,
suspecting manipulation and concentration of trades. The Securities and Exchange Board of India
(Sebi) demanded an explanation and in a 2 March interim order, barred 16 entitiesincluding four
trading members and their defaulting clientsfrom accessing markets for suspected fraudulent and
unfair trade practices. It also ordered a forensic audit and an examination of NCDEXs management
role in the crisis.Mint reported on 23 May that NCDEX had hired chartered accountants Mukund M.
Chitale and Co. to conduct the forensic audit. NCDEX is one of the two leading national commodity
exchanges in India. However, it has just around 10.61% of average monthly turnover, dominated by
larger rival Multi Commodity Exchange Ltd (MCX). Sebis April 2016 bulletin said that the total
turnover in the commodities segment for MCX was Rs.5.09 trillion in March 2016; at NCDEX it was
Rs.60,417 crore.Agricultural commodities fetch 98.6% of NCDEX turnover; bullion brings 1.4%. The
exchange now wants more of the metals market.Following the merger of Forward Markets
Commission (FMC) with Sebi in September last year, the commodity market is hopeful of seeing new
products such as options and indices.The market regulator is mulling to allow options in
commodities such as gold, silver, guar gum, and RM seed, said one of the two people cited earlier
who is familiar with the regulators thinking.

TURMERIC
There is good up country demand and weak supplies in the physical market.The prices are in uptrend on reports
of forecast of tight supplies and good demand from the stockists. The arrivals in the main physical markets such
as Nizamabad, Duggirala (AP), Salem, Erode and Sangli reported decreasing compared to last week. Good
sowing progress in Karnataka and Tamilnadu ma y pressurize prices in coming weeks. However, in Telangana,
sowing is completed in only in 5,088 hectares, down by 47.6 per cent compared to last year as on 22-Jun. As per
dept of commerce data, turmeric exports in 2015-16 are pegged at 85,426 tonnes while the export for the 201415 was 90,738 tonnes for the same period. Major export destinations in 2015-16 are Iran, Malaysia, UAE, USA
and Sri lanka.
Turmeric futures traded lower yesterday on extended profit booking due to heavy rainfall in turmeric
growing regions. July futures closed the trade at Rs.8230/quintal, down by 0.75% similarly August futures
closed down by 1.18%. However, expectations of pickup in domestic demand limited the fall for turmeric.
Turmeric at Nizamabad market traded steady at Rs.8500/ql and Rs.8000/ql for finger and bulb respectively with
arrivals at 1500 bags. At Erode market, finger traded lower at Rs.8500-8700/ql while bulb traded steady at
Rs.8200-8400/ql and arrivals were at around 7500 bags. Sowing in Telangana for we ek ending on 29 June 2016
was at 17784 hectares, lower compared to previous year sowing of 19582 hectares.

SOYABEAN & REFSOYA OIL

Indias soybean output is estimated to have declined to its lowest in 11 years in the crop year 2015-16 (July
June), following two consecutive years of drought that resulted in crop damage and a steep fall in yield.Data
compiled by the apex industry body, the Soybean Processors Association (SOPA), showed Indias soybean
output at 7.54 million tonnes in crop year 2015-16, compared with 10.37 million tonnes in 2014-15, a decline of
nearly 27 per cent. Faced with a sharp decline in output last year, soybean farmers this year eagerly await the
monsoon to advance evenly throughout the country to start sowing for timely harvesting of the oilseed.The
monsoon rainfalls were delayed by two weeks in some parts of Rajasthan, Madhya Pradesh and Maharashtra,
Indias three major soybean producing states that contribute to nearly 80 per cent of the countrys total output.
Alarmingly, the rainfalls remained inadequate in some areas in Maharashtra and Madhya Pradesh to commence
sowing. Farmers still await the intensity of rainfalls to increase to achieve at least normal output level this
year.Soybean, a 100 per cent kharif produce, is a 90-day crop whose sowing begins with the onset of monsoon in
June, for harvesting in the second half of September. But, soybean sowing has been delayed by two weeks
which, traders believe, would impact yield.Data compiled by the Ministry of Agriculture showed Indias
soybean output at 8.7 million tonnes. The scenario looks grim for sowing and harvesting this year as well, due to
delay in the monsoon rainfalls.
Soybean output is imperative to edible oil import into due to Indias heavily dependence on imported oil.
India meets around 55 per cent of 23.5 million tonnes of vegetable oil demand through imports largely from
Indonesia, Malaysia and Argentina.Traders, therefore, have urged the government to allow import of oilseeds
duty free to make edible oilseed available for domestic crushers which they believe would benefit two ways :
promote manufacturing locally and make oilmeal available for exports.Indias has lost heavily in terms of
oilmeal exports due to non availability of the animal feed following lower crushing of seeds in India.
Soybean futures closed lower on Friday and trade on negative note last week tracking international soybean
prices. Moreover, lower demand from millers and stockists during the end of the season. Soybean Jul16 contract
closed 2.21% down last week to settle at Rs. 3,721 per quintal. There are reports of lesser sowing area but may
not affect the yield in Madhya Pradesh. There has been a delay in sowing, as the monsoon was delayed in some
parts of Rajasthan, MP and Maharashtra. Because of scanty rainfall received in key oilseeds growing areas of
Saurashtra, Kutch, and Gujarat regions and east Madhya Pradesh, ove rall oilseeds sowing is down 47% to only
28.71 lakh hectares.
Refined soy oil futures traded on negative note last week due to profit booking
by the market participants. Refine soyoil continue its range bound movement since last week due to steady
demand in the physical market. Ref Soy oil Jul16 expiry closed 0.65% down for the week to settle at Rs. 639.3/
10 kg. Earlier, prices have been under pressure due to sufficient supplies in the physical market a nd weak
physical demand, which is indicated by decline in edible oil imports last month. Moreover, sufficient stock in the
physical market on report of higher imports may weigh on prices at higher levels. As per SEA data, Import of
vegetable oils during May 2016 is reported at 10.25 lakh tons (lt) compared to 13.72 lt in May 2015, down by
25% due to highest stock at port and pipeline and reduced demand due to summer. Moreover, Import of soyoil
during May fell to 178,064 tonnes from 289,266 tonnes compared to May 2015.

JEERA
Good demand from China coupled with availability of quality produce has pushed jeera (cumin) exports by
almost 181 per cent during the first quarter of this fiscal. Add to that, geo-political tension restricted jeera supply
from Turkey and Syria, thereby making India the single most preferred source of jeera supply in the world

market.According to trade sources, India has exported about 45,000 tonnes jeera in first quarter of current
financial year as against 16,000 tonnes in corresponding period of 2015.Overall exports of jeera during 2015-16
had declined to 95,000 tonnes as against 156,000 tonnes in 2014-15. This was because of lower demand and
higher domestic prices of the commodity.However, traders and exporters are hopeful of better exports and
expect that exports from India may cross 100,000 tonnes in 2016-17.Export demand in June gradually declined
because of dull demand from Gulf countries due to Ramadan. Exporters believe that fresh jeera demand may
come after end of Ramadan period.After prices of jeera had gone up to Rs 18,000 per quintal around mid-June,
domestic as well as export demand has come down in June. Now prices are declining on weak demand. During
last two weeks, jeera prices have reduced to Rs 16,500-17,000 per quintal. Arrival of jeera increased to 9,000
bags from 6,000 bags per day at Unjhamandi of Gujarat.
Jeera futures shaded all its previous gains during Fridays trading session. Rise in arrivals at spot market
due to the current higher rate pulled the market down. Hence, jeera active July contract traded at Rs.17530 per
quintal down by 2.8%. On spot market front, at Unjha market jeera prices remained unchanged at Rs.18500 per
quintal. At Unjha market of Gujarat, about 7,000-8,000 bags of jeera arrived. Stock positions at the NCDEX
accredited warehouses are 3104 tonnes and 378 MT are in process as on 30 June 2016

LEGAL DISCLAIMER
This Document has been prepared by Ways2Capital (A Division of High Brow Market Research Investment
Advisor Pvt Ltd). The information, analysis and estimates contained herein are 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 recipient only. This document, at best, represents Ways2Capital
Equity/Commodities Research opinion and

is meant for general information only. Ways2Capital

Equity/Commodities Research, its directors, officers or employees shall not in any way to be responsible for the
contents stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities
that may arise from information, errors or omissions in this connection. This document is not to be considered as
an offer to sell or a solicitation to buy any securities or commodities.

All information, levels & recommendations provided above are given on the basis of technical & fundamental
research done by the panel of expert of Ways2Capital but we do not accept any liability for errors of opinion.
People surfing through the website have right to opt the product services of their own choices.

Any investment in commodity market bears risk, company will not be liable for any loss done on these
recommendations. These levels do not necessarily indicate future price moment. Company holds the right to
alter the information without any further notice. Any browsing through website means acceptance of disclaimer.

DISCLOSURE
High Brow Market Research Investment Advisor Pvt. Ltd. or its associates does not do business with companies
covered in research report nor is associated in any manner with any issuer of products/ securities, this ensures
that there is no actual or potential conflicts of interest. To ensure compliance with the regulatory body, we have
resolved that the company and all its representatives will not make any trades in the market.
Clients are advised to consider information provided in the report as opinion only & make investment decision
of their own. Clients are also advised to read & understand terms & conditions of services published on website.
No litigations have been filed against the company since the incorporation of the company.

Disclosure Appendix:
The reports are prepared by analysts who are employed by High Brow Market Research Investment Advisor Pvt.
Ltd. All the views expressed in this report herein accurately reflects 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.

Disclosure in terms of Conflict of Interest:

(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;
(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,
(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;

Disclosure in terms of Compensation:

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.

Disclosure in terms of Public Appearance:

(a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from the subject
company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of
the research report.
(c) High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or employee of
the subject company;
(d) High Brow Market Research Pvt. Ltd. has never been engaged in market making activity for the subject
company.