E

MCX DAILY LEVELS✍

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 29-DEC-2017 134 132.50 131 130.20 129.50 128.70 128 126.50 125

COPPER 28- FEB-2018 441.40 436.80 432.20 430 427.60 425.30 423 418.40 413.80

CRUDE OIL 18-DEC-2017 4033 3913 3793 3742 3674 3622 3559 3433 3313

GOLD 05-FEB -2018 29088 28900 28730 28630 28550 28460 28370 28190 28010

LEAD 29-DEC-2017 168.40 164.80 161.25 159.0 157.80 156.20 154.10 150.60 147.10

NATURAL GAS 26-DEC-2017 192.80 188.60 184.50 182.30 180.20 178 176.10 171.80 167.70

NICKEL 29-DEC-2017 750 735 721 713 706 699 693 679 665

SILVER 05-MAR-2018 38043 37710 37377 37216 37050 36883 36711 36380 36040

ZINC 29-DEC-2017 205.60 203.50 201.50 200 199.20 198.30 197.40 195.40 793.30

Monday 11 December 2017

MCX WEEKLY LEVELS✍

WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 29-DEC-2017 145.10 140.25 135.40 132.50 130.55 127.55 1125.50 120.85 116

COPPER 28- FEB-2018 509 480 456 441 432 418 408 385 361

CRUDE OIL 18-DEC-2017 4120 3974 3828 3760 3660 3610 3536 3390 3244

GOLD 05-FEB -2018 31155 30326 29557 29045 28770 28246 27960 27160 26360

LEAD 29-DEC-2017 189.70 179.70 169.80 164 160.50 154.10 149.90 139.90 130.10

NATURAL GAS 26-DEC-2017 258 234.60 210.70 195.30 186 171 162.90 139 115

NICKEL 29-DEC-2017 856 808 761 733 713 685 665 617 570

SILVER 05-MAR-2018 42030 40500 38970 38015 37450 36480 35900 34390 32853

ZINC 29-DEC-2017 234 223.70 213.10 206.10 202.30 195.10 191.60 180.90 170.20

FOREX DAILY LEVELS✍

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 27-DEC-17 65.6150 65.25

00

64.900

0

64.700

0

64.550

0

64.350

0

64.200

0

63.850

0

63.4850

EURINR 27-DEC-17 79.61 78.50 77.35 76.65 76.25 75.55 75.15 74.00 72.89

GBPINR 27-DEC-17 88.2250 87.85

00

87.500

0

87.250

0

87.100

0

86.900

0

86.750

0

86.350

0

85.9750

JPYINR 27-DEC-17 79.6025 78.50

00

77.350

0

76.650

0

76.250

0

75.550

0

75.150

0

74.000

0

72.8975

FOREX WEEKLY LEVELS✍

WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 27-DEC-17 65.0950 64.9500 64.7500 64.6500 64.60

00

64.500

0

64.450

0

64.250

0

64.10

50

EURINR 27-DEC-17 77.17 76.80 76.40 76.15 76.00 75.75 75.60 75.20 74.83

GBPINR 27-DEC-17 88.2250 87.8500 87.5000 87.2500 87.10

00

86.900

0

86.750

0

86.350

0

85.97

50

JPYINR 27-DEC-17 58.9950 58.4000 57.7500 57.4000 57.15

00

56.750

0

56.550

0

55.900

0

55.30

50

MCX - WEEKLY NEWS LETTERS

✍ BULLION

Last week, spot gold prices declined by 2.5% while MCX gold prices declined by 3 percent. Gold prices

declined to a four month low in the past week on optimism about passage of tax overhaul in the US.

Although, the investment demand has seen uptick in the recent months with global holdings of gold-backed

exchange-traded funds (ETF) rising by 9.1 tonnes to 2,357 tonnes in November, with the net inflows

coming entirely from Europe, gold prices are moving lower on the assumption that rate hike in the FOMC

meeting scheduled on 13-14th December will be as per market expectations. Besides, India's gold imports

in November nearly halved from a year ago as a rise in the price of the yellow metal curbed retail buying

for weddings in turn lower prices for gold.

Spot silver prices declined 3.6 percent to close at $15.8 per ounce in line with decline in gold prices coupled

with stronger dollar index. Weak base metals pack also exerted downside pressure on the metal. ON the

MCX, silver prices declined 2.3 percent to close at Rs.37057 per kg

SPDR Gold Trust GLD, the world's largest gold-backed exchanget raded fund, said its holdings stood at

842.81 tonnes, remain unchanged from previous business day.

Holdings of the largest silverbacked exchange-traded-fund (ETF), New York's iShares Silver Trust SLV,

stood at 10088.59 up 46.96 tonnes, from previous business day.

✍ BASE METAL

Copper prices witnessed their worst one day fall as passage of US tax bill by both houses increased bets of

reform sooner than expected, thereby boosting DX to highest since 2nd Oct’17. Also, sudden surge of more

than 5 percent in LME warehouses in a day led to investors’ doubts regarding market tightness. However,

Chinese imports data came to the rescue as arrivals of unwrought copper surged in November’17 to

470,000 tonnes, 42.3 percent from 330,000 tonnes in October’17 and up 23.7 percent from 380,000 tonnes

in November’16 as stringent output curbs in the mainland nation boosted shipments of overseas metal.

Base metals traded mostly lower last week as investors take profit off the table cashing in gains for most of

the year’s rally. Copper, Nickel, Aluminium, Lead have all fallen by more than 3 percent in the past week.

MCX base metals traded lower in line with international trends.

ENERGY✍

WTI and MCX oil prices traded lower last week by 3 percent respectively on profit booking at higher

levels. Sharp rise in U.S. inventories of refined fuel suggested demand may be flagging, while U.S. crude

production hit another weekly record.

Saudi Arabia, the world's top oil exporter, will supply full contractual volumes of crude to a North Asian

refiner in January, unchanged from the previous month, a source with direct knowledge of the matter said

on Monday.

Kuwait's oil minister Essam alMarzouq said on Sunday that OPEC and other oil producers will study before

June the possibility of an exit strategy from the global oil supply-cut agreement.

President Vladimir Putin said on Friday that Russia was ready to sell gas to Saudi Arabia after he launched

the first loading of liquefied natural gas (LNG) at the Novatek-led Yamal LNG project in the Arctic.

MCX TECHNICAL VIEW

✍ COPPER

In this week, Copper prices will continue to be under pressure as global investors will closely watch FOMC

and ECB monetary policy meeting for cues on future course. Also, China industrial production and retail

sales are due on 14th Dec’17. We expect copper prices to fall even in today’s session, international markets

are trading marginally higher by 0.11 percent at $6578.50 per tonne.

SELL COPPER FEB BELOW 423 TGT 413 SL 428

✍ ZINC

The primary trend is bearish on daily basis as displayed. As we can see the previous chart market price on

its important support level and we are expecting market can break it support level. It’s facing near

resistance level at Rs. 202 and support level at Rs. 198.50 .Below the support level we can see the next

target near of Rs. 196 and Rs. 195. Investors can follow the sell on higher level strategy for intra day to

mid term basis. Apart from this above the resistance level could see a test of level 205.

SELL ZINC DEC BELOW 198.50 TGT 195.80 SL 200.10

NCDEX DAILY LEVELS✍

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 19-JAN-2018 747.20 739.65 732.1 727.60 742.50 720.10 716.80 709.50 701.70

SYBEANIDR 19-JAN-2018 3229 3194 3159 3142 3124 3105 3089 3054 3019

RMSEED 19-JAN-2018 4175 4121 4067 4041 4013 3987 3959 3905 3851

JEERAUNJHA 19-JAN-2018 22750 22350 21950 21780 21500 21300 21150 20750 20350

GUARSEED10 19-JAN-2018 4248 4110 3972 3922 3834 3784 3696 3558 3420

TMC 20-APR-2018 7840 7698 7556 7485 7410 7473 7272 7130 6988

NCDEX WEEKLY LEVELS✍

WEEKLY EXPIRY

DATE

R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 19-JAN-2018 812.90 785.60 758.30 740.80 730.80 713.50 703.70 676.70 650

SYBEANIDR 19-JAN-2018 3320 3256 3193 3159 3130 3096 3067 3004 2941

RMSEED 19-JAN-2018 4659 4459 4260 4137 4061 3938 3862 3663 3464

JEERAUNJHA 19-JAN-2018 25050 23960 22870 22190 21780 21140 20650 19600 18510

GUARSEED10 19-JAN-2018 4650 4329 4133 4003 3860 3744 3615 3356 3097

TMC 20-APR-2018 8252 7970 7688 7551 7400 7269 7124 6842 6560

NCDEX - WEEKLY MARKET REVIEW

✍ SPICE COMPLEX

Turmeric Apr futures closed lower on fresh selling by the Market Participants on expectation of good

supplies from the new season. The supplies will be higher due to government auctions and lower exports

data. The export of turmeric is down by 15.2% to 56,900 tonnes for the first 6 month of FY 2017/18

compared to last years’ exports. The arrivals have been higher during first 10 days in December this year to

10,130 tonnes compared to 3,372 tonnes last year same month according to Agmarknet data.

NCDEX Jan Jeera falls on Friday on fresh selling initiated by the market participants at higher levels

coupled with encouraging jeera sowing progress in Gujarat. In Gujarat, jeera acreage up by 50% to 2.7 lakh

ha this year compared to 1.8 lakh ha last year as on 4 th Dec. As per government data, Jeera exports during

first six month of FY 2017/18 (Apr-Sep) is 77,827 tonnes, up 8.4% compared to last year exports volume

for the same period. India's jeera exports in Sep increase 110% on year to 14,742 tn. Jeera arrivals for the

first 10 days of Dec down by 60% to 906.7 tonnes on year due to tight supplies and lower stocks

✍ OILSEED COMPLEX

Mustard Jan futures continue to close lower for 5th consecutive day on Friday due to steady physical

demand and reports of higher inventories with the traders and farmers. According to Mustard Oil Producers

Association of India, mustard stock with Farmers & Processors as on 30th Nov’17 was at 13 lakh tonnes.

Mills across the country crushed 475,000 tn of the oilseed in November, up nearly 6% on month. As per rabi

sowing report from the government, the acreage of mustard, another major rabi crop, was at 59 lakh ha,

down from 64 lakh ha a year ago. Rajasthan is the largest mustard growing state but the sowing pace is

slower than last year at 20.6 lakh ha Vs 27.4 lakh ha.

NCDEX Soybean futures closed lower for the second consecutive day on Friday mainly on fresh selling

initiated by the market participants tracking spot prices. However, the trend looks positive due to reports of

good physical demand as Soybean Processors Association of India (SOPA) increased its estimates of meal

exports for 2017/18.

Moreover, earlier government has increased export incentives by 2% for all meals. According to SOPA,

Soymeal exports from the country in 2017-18 (Oct-Sep) are seen rising to around 20 lakh tn from previous

estimate of 15 lakh tn due to a recent rise in export incentives. India's soymeal exports during November

surged to 207,630 tn from 97,750 tn a year ago. For Apr-Nov, exports of soymeal were estimated at 768,981

tn compared with 204,860 tn a year ago as per SEA monthly report. US Soybean settled 2-1/4 cents lower at

$9.89-3/4 a bushel dropped 0.4 percent last week after rising in the previous four weeks mainly on improved

weather conditions in Brazil and encouraging exports numbers

✍ OTHER COMPLEX

Chana Jan futures plunge more than 6.3% last week as fresh selling is seen throughout the week due to improved

sowing progress coupled with higher stocks in the country due to record imports. As per government data, India

imported about 4.78 lakh tonnes of chana during April-Sep, up by 430% compared the last year imports. As per

government sowing data, area under the rabi chana crop across the country was up 10.25% on year at 89.6 lakh

ha as on last week. The acreage of chana in MP and Karnataka, the largest and the second-largest grower of

pulse, was up 17.1% on year at 31.24 lakh ha, and up 38.2% on year at 13.3 lakh ha, respectively. To encourage

farmers, govt. increase MSP by 10% to Rs. 4,400 per

MCX Dec Cotton jumps higher by more than 2% on expectation of big fall in domestic output due to pink

bollworm attacks in some states. Concerns about crop quality have also impacted prices. Cotton production in

Telangana this year is feared to come down drastically as it estimated that pink bollworm ay have eat up 40% of

the cotton crop. According to trade sources, about 60 lakh bales have arrived in the Indian markets this season

compared to 47.3 lakh bales last year till Dec 1. ICE cotton fell on Friday after hitting an over seven-month high

earlier in the session as investors took profits and as the U.S. dollar firmed.

NCDEX TECHNICAL VIEW

✍ CARDAMOM

MCX CARDAMOM futures last week closed above in important level of Rs.1000. Market is continuously

trading on higher level indicating strong number of buyers. It is facing important resistance level at Rs.1070

above the level we believe that market can touch the level of Rs.1150 & Rs.1200. Traders can follow the buy on

dips strategy. Momentum still positive as the MACD (moving average convergence divergence) index generated

a crossover buy signal. The MACD histogram is printing in the black with an upward sloping trajectory which

points to higher prices for the Natural gas.

BUY CARDAMOM ABOVE 1070 TGT 1150 SL 1010

✍ COTTON SEED OIL

COCCUDAKL witnessed flat movement at NCDEX. Market is facing good support at the level of Rs. 1660

supported by 50 days moving average and getting bounce back and recently market has broken its trading

range appearing on the chart image. Technically we believe that market can move higher from lower level and

if market could break its trading range. Recently it is sustaining above important resistance of psychological

number at Rs. 1600, it can move to the level of Rs. 1800 & Rs. 1900 . Also market also forming higher highs

and higher low indicating upside momentum. RSI (Relative Strength Index) fluctuating in the buying zone on

its daily chart indicating positive movement in upcoming sessions.

BUY COCUDAKL JAN ABOVE 1670 TGT 1770 SL 1595

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