✍ MCX DAILY LEVELS

DAILY EXPIRY

DATE

R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 29 JAN 2016 108.

20

106.25 104.30 103 102.35 101.10 100.40 98.45 96.50

COPPER 29 FEB 2016 318.

60

316.75 314.90 314.10 313.10 312.30 311.20 309.40 307.50

CRUDE OIL 19 JAN 2016 268

5

2629 2573 2550 2517 2494 2461 2405 2349

GOLD 05 FEB 2016 255

82

25447 25312 25262 25177 25127 25042 24907 24772

LEAD 29 JAN 2016 119.

05

117.85 116.65 115.90 115.45 114.70 114.25 113.05 111.85

NATURAL GAS 25 JAN 2016 152.

20

147.10 142 139.80 136.90 134.70 131.80 126.70 121.60

NICKEL 29 JAN 2016 588.

50

583.50 578.50 576 573.50 570.90 568.50 563.50 558.50

SILVER 04 MAR 2016 349

83

34757 34531 34438 34305 34212 34079 33853 33627

ZINC 29 JAN 2016 108.

45

106.55 104.65 103.45 102.75 101.55 100.85 98.95 97.05

✍ MCX WEEKLY LEVELS

WEEKLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 29 JAN 2016 111.6

5

108.40 105.15 103.45 101.90 100.20 98.65 95.40 92.15

COPPER 29 FEB 2016 331.1

0

325.50 319.90 316.60 314.30 311 308.70 303.10 297.50

CRUDE OIL 19 JAN 2016 3000 2826 2652 2590 2478 2416 2304 2130 1956

GOLD 05 FEB 2016 26300 25942 25584 25398 25226 25040 24868 24510 24152

LEAD 29 JAN 2016 126.4

0

122.45 118.50 116.80 114.50 112.90 110.60 106.65 102.70

NATURAL GAS 25 JAN 2016 174.1

0

160.80 147.50 142.50 134.20 129.20 120.90 107.60 94.30

NICKEL 29 JAN 2016 655.1

0

630.10 605.10 589.30 580.10 564.30 555.10 530.10 505.10

SILVER 04 MAR

2016

36221 35564 34907 34626 34250 33969 33593 32936 32279

ZINC 26 JAN 2016 112.2

0

108.90 105.60 103.90 102.30 100.60 99 95.70 92.40

WEEKLY MCX CALL

BUY ZINC JAN ABOVE 103.40 TGT 105 SL 101.80

PREVIOUS WEEK CALL

BUY ZINC DEC ABOVE 101 TGT 103 SL 99 - CLOSED AT 101.15

✍ FOREX DAILY LEVELS

DAILY EXPIRY

DATE

R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 27 JAN 2016 67.1

0

66.90 66.70 66.65 66.55 66.45 66.35 66.20 66

GBPINR 27 JAN 2016 73.7

0

73.40 73.10 72.95 72.80 72.65 72.50 72.20 71.90

EURINR 27 JAN 2016 100.

40

99.90 99.40 99.20 98.90 98.75 98.45 97.95 97.45

JPYINR 27 JAN 2016 55.5

0

55.30 55.15 55.10 55 54.90 54.80 54.65 54.50

✍ FOREX WEEKLY LEVELS

DAILY EXPIRY

DATE

R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 27 JAN 2016 67.5

5

67.25 66.90 66.70 66.60 66.40 66.25 65.95 65.60

GBPINR 27 JAN 2016 74.4

0

73.85 73.30 73.05 72.75 72.50 72.20 71.65 71.10

EURINR 27 JAN 2016 102.

05

101.10 100.10 99.55 99.10 98.60 98.10 97.10 96.10

JPYINR 27 JAN 2016 55.9

0

55.60 55.30 55.15 55 54.90 54.70 54.45 54.15

WEEKLY FOREX CALL

BUY JPYINR JAN ABOVE 55.15 TGT 55.65 SL 54.60

BUY EURINR JAN ABOVE 73 TGT 73.70 SL 72.30

PREVIOUS WEEK CALLL

BUY EURINR DEC ABOVE 72.63 TGT 73.25 SL 71.98 - NOT EXECUTED.

✍ NCDEX DAILY LEVELS

DAILY EXPIRY

DATE

R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 18 JAN 2015 638 632 626 622 620 616 614 608 602

SYBEANIDR 18 JAN 2015 3911 3877 3843 3825 3809 3791 3775 3741 3707

RMSEED 18 JAN 2015 4773 4713 4653 4616 4593 4556 4533 4473 4413

JEERAUNJHA 18 JAN 2015 15121 14946 14771 14683 14596 14508 14421 14246 14071

CHANA 18 JAN 2015 5134 5069 5004 4979 4939 4914 4874 4809 4744

CASTORSEED 18 JAN 2015 3935 3897 3859 3842 3821 3804 3783 3745 3707

✍ NCDEX WEEKLY LEVELS

WEEKLY EXPIRY

DATE

R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 18 JAN 2015 638 632 626 622 620 616 614 608 602

SYBEANIDR 18 JAN 2015 4120 4022 3924 3865 3826 3767 3728 3630 3532

RMSEED 18 JAN 2015 5013 4863 4713 4646 4563 4496 4413 4263 4113

JEERAUNJHA 18 JAN 2015 15865 15425 14985 14790 14545 14350 14105 13665 13225

CHANA 18 JAN 2015 5278 5159 5040 4997 4921 4878 4802 4683 4565

CASTORSEED 18 JAN 2015 4300 4139 3978 3901 3817 3740 3656 3495 3334

WEEKLY NCDEX CALL

SELL JEERA JAN BELOW 14300 TGT 14000 SL 14760

BUY CHANA JAN ABOVE 4970 TGT 5090 SL 4860

PREVIOUS WEEK CALL

BUY TMC APR ABOVE 10700 TGT 10900 SL 10500 - NOT EXECUTED.

BUY JEERA JAN ABOVE 14700 TGT 15000 SL 14400 - CLOSED AT 14695

MCX - WEEKLY NEWS LETTERS

INTERNATIONAL NEWS

✍ PRECIOUS METAL

✍ BULLION

Silver prices slipped from highs as U.S. home re-sales posted their sharpest drop in five years

in November. The prices stayed higher earlier as the dollar slipped against a basket of

currencies on Tuesday as more traders booked profits on bullish greenback bets following the

Federal Reserve's interest rate increase last week.

Silver futures ended lower in the domestic market on Wednesday as investors and speculators

exited positions in the precious metal as robust US economic data showed a strengthening

recovery in the world’s biggest economy, vindicating the US Federal Reserve’s decision to

raise interest rates for the first time in almost a decade last week, curbing the lure for the

precious metal as a store of value. US consumer spending rose the most in three months, up by

0.3 per cent in November from the previous month, consumer confidence hit the highest level

in five months in December, and sales of new homes rose last month. At the MCX, Silver

futures for March 2015 contract closed at Rs 34,215 per kg, down by 0.21 per cent after

opening at Rs 34,175, against the previous closing price of Rs 34,286. It touched the intra-day

low of Rs 34,065.

Gold held a decline after the U.S. economy expanded faster than estimated last quarter,

boosting the outlook for further increases in interest rates. The U.S. economy expanded at a

revised 2 percent annualized rate, a government report showed on Tuesday, beating the median

forecast in a Bloom berg survey calling for a 1.9 percent increase. Another report showed

consumer spending excluding food and fuel rose at a faster pace in the third quarter than

previously estimated, helping to alleviate concern that inflation is too low, which supported the

prices from lower levels

India’s gold import bill rose 19 per cent in the first half of the current financial year (April 1 to

September 30), despite government efforts to reduce this. The balance of payments data, issued

on Tuesday, showed $17.5 billion (Rs 1.16 lakh crore) of import in the period, from $14.65 bn

in the corresponding period last year “Clearly, consumers’ appetite has not reduced despite the

government’s effort to do so through sovereign gold bonds," said a senior executive in the

sector, not wishing to be named. The bill for the July to September quarter was $9.9 bn, a 31

per cent rise from $7.6 bn in the same period last year. And, a 33 per cent jump from the import

bill of $7.5 bn in the April–June quarter this year. The World Gold Council, market

development organization for the mining industry, had estimated India’s gold import at 464

tonnes in April–September, as against 431 tonnes in the same quarter last year. During the

September quarter last year, the import was 501 tonnes. The total for 2014-15 was 961 tonnes

of import; this year, WGC believes, it will exceed 1,000 tonnes. G V Sreedhar, chairman of the

All India Gems and Jewellery Trade Federation, concurs, noting the sharp global fall in gold

prices. Gold prices have been falling consistently over six quarters. In July–September, the

average was $1,125.3 an ounce, from $1,282.1 an oz in the same quarter last year and $1,193.7

an oz in the June quarter this year. Which also means the import bill is likely to be five or six

per cent less in value terms, despite a rise in volumes.

“2015 has been a fascinating year for the gold market, with strong demand from central banks,

Asian markets and the European bar and coin market. The pro-gold schemes introduced by the

Indian government and further internationalization of the renminbi (China's currency),

alongside the increasing transparency of Chinese gold reserves, will continue to improve the

market next year. Gold’s role as a portfolio diversifier, a wealth preservation tool and a tail-risk

hedge will continue to prevail, due to expensive stock valuations and high liquidity risks.

Finally gold’s cultural significance endures as we look ahead to 2016," said Alistair Hewitt,

head of market intelligence at WGC. Asian markets continue to be strong drivers of demand,

with both India and China's up year-on-year as of the financial year's third quarter.

✍ CRUDEOIL

US light crude oil gained almost a percent whereas the Brent crude oil continued its downtrend

As per closing basis, WTI gained around a percent, registering at $36.14/ bbl, whereas Brent

crude oil moved down by almost 0.70%, registering at $36.11/ bbl MCX crude prices moved

up yesterday by Rs. 30

Crude oil futures rose by Rs 13 to Rs 2,510 per barrel today as speculators widened their

positions amid a positive trend overseas. In futures trading at Multi Commodity Exchange,

crude for delivery in February next year was trading higher by Rs 3, or 0.12%, to Rs 2,510 per

barrel, with a business turnover of 106 lots. The oil for delivery in January also rose Rs 2, or

0.12%, to Rs 2,429 per barrel in a turnover of 3,242 lots. Analysts said the rise in crude oil

futures was largely in tandem with a firm trend in Asian trade after the US benchmark WTI

overtook its European counterpart Brent in reaction to the lifting of a 40-year US crude exports

ban. Meanwhile, West Texas Intermediate crude prices for February delivery rose 20 cents to

$36.34 while Brent for February stood at $36.36 per barrel, up 25 cents above its ending price

in London at the New York Mercantile Exchange.

The Organization of the Petroleum Exporting Countries (Opec) said demand for its crude oil

will slide to 2020, though less steeply than previously expected, as rival supplies continue to

grow. It will need to pump 30.7 million barrels a day by the end of the decade, Opec said

Wednesday in its annual World Oil Outlook. That's 1.7 million barrels more than projected a

year ago, and one million less than the group pumped in November. The forecast underlines the

struggle faced by Opec's as it seeks to defend market share against a surge in output from rivals

such as the US and Russia. While Opec is slowly taming the expansion of competitors, the

collapse in oil prices means the financial costs of its strategy are immense. Brent crude futures

touched an 11-year low of $36.04 a barrel on December 21. "Although lower oil prices

continue to foster some demand growth, their impact seems to be limited by other factors," the

group said. "The removal of subsidies and price controls on petroleum products in some

countries and ongoing efficiency improvements will all likely continue restricting oil demand

growth." The 30.7 million barrels of daily output needed from 12 of Opec's members in 2020 is

about 300,000 a day less than required this year, when it repeatedly pumped above its

production target before scrapping the limit altogether earlier this month. The supply total

excludes Indonesia, which formally rejoined Opec on December 4.

✍ NATURAL GAS

Natural Gas futures soared by over 3 per cent in the domestic market on Wednesday amid

hopes that frigid weather in parts of the US may boost winter heating demand for the fuel in the

world’s biggest gas consuming nation. Updated weather forecasting models have called for

cold weather across the US Midwest in end December, raising hopes of a rise in demand for

gas-fired heating at offices and homes. About 49 per cent of US households use natural gas for

heating purposes. November to March is the peak US gas heating season. At the MCX, Natural

Gas futures for December 2015 contract closed at Rs 128.8 per mm-Btu, up by 3.37 per cent,

after opening at Rs 125.4, against the previous closing price of Rs 124.6. It touched an intra-

day high of Rs 129.4

✍ COPPER

Copper prices fell from the prior session's five-week high on Tuesday, but losses were limited

amid speculation Chinese metal producers will trim down production to rescue falling prices.

Also limiting losses in copper, industry data showed the global refined copper market was in a

26,000 tonnes deficit in September, with the surplus for the first nine months reaching just

35,000 tonnes. Elsewhere, data on Monday showed Chinese copper imports for the first eleven

months were in line with last year, calling into question fears that demand in China has fallen

sharply this year. But on the downside, Peru's government said copper output should rise 65.5

percent in 2016 to about 2.5 million tonnes.

Taking weak cues from global market, copper futures traded 0.90% lower at Rs 318.95 per kg

today as speculators offloaded bets. Furthermore, subdued demand at domestic spot market

pushed down metal prices. At Multi Commodity Exchange, copper for delivery in far-month

April shed Rs 2.90, or 0.90%, to Rs 318.95 per kg in a business turnover of 112 lots. Also,

metal for delivery in far-month February contract was trading down Rs 2.55, or 0.80%, at Rs

314.80 per kg in 4,169 lots. Analysts attributed the fall to weakness in base metals at the

London Metal Exchange (LME) on concern over the sustainability of demand in China, the

largest consumer. Meanwhile, copper dropped 0.9% to $4,695 per tonne at the LME.

✍ NICKEL

Nickel prices were up 0.54% at Rs 575.30 per kg in futures market today after speculators

widened bets amid industrial metals rising overseas and a firm trend in the spot market on

increased demand from alloy makers. At the Multi Commodity Exchange, nickel for delivery

this month gained Rs 3.10, or 0.54%, to Rs 575.30 per kg in a business turnover of 1,176 lots.

In a similar manner, the metal for delivery in January next year contract was trading higher by

Rs 2.70, or 0.47%, to Rs 580.80 per kg in 161 lots. Analysts said the metal bouncing from the

largest decline in more than three weeks in global market, as the US economy expanded faster

than estimated, boosting demand in the second-largest metals user, supported uptrend in nickel

futures here.Besides, increased domestic demand from alloy makers and other consuming

industries, influenced metal prices, they said. Globally, nickel rose as much as 0.9% to $8,715 a

metric tonne at the London Metal Exchange.

✍ ZINC

Zinc futures traded 0.94% lower at Rs 100 per kg today as reduced positions, tracking a weak

global trend. Zinc for delivery in December declined by 95 paise, or 0.94%, to Rs 100 per kg at

the Multi Commodity Exchange. It clocked business turnover of 3,510 lots. Likewise, the metal

for delivery in the January month contracts softened by 90 paise, or 0.88%, to Rs 100.90 per kg

in 106 lots. Analysts said the weakness in zinc at futures trade was mostly attributed to a weak

trend in copper and other base metals in the global markets largely on concern over the

sustainability of demand in China, the largest consumer. At the London Metal Exchange, zinc

fell by 0.7%.

Lead fell 0.9 percent, reversing gains of nearly 3 percent in the previous session. Supporting

lead, cash spiked to its highest since late April at $11.50 against the benchmark highlighting a

shortfall of supply on hand for immediate delivery. Zinc too slipped 0.6 percent to

$1,524.50.The refined zinc market outside of China moved to its first quarterly deficit since the

second quarter of last year

✍ NCDEX - WEEKLY NEWS LETTERS

✍ CASTORSEED

Castor seed prices fell by 0.64 per cent on Monday at the National Commodity & Derivatives

Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies

as well as strong production estimates. At the NCDEX, castor seed futures for January 2016

contract was trading at Rs. 3,863 per quintal tonnes, down by 0.64 per cent, after opening at Rs.

3,882 against the previous closing price of Rs. 3,888.

Castor seed at Deesa spot market continued its bearish trade as it traded in range of Rs. 3550-

3600 per quintal, lower by Rs.100 from its previous day’s price and arrivals decreased to 250

bags, down by 50 bags. Huge carry over stock from previous year and the good condition of

new crop is pressurizing the market. Castor oil exports during November were at 33464 MT,

marginally lower from October export volume of 33599 MT. Castor oil at Kandla port is quoted

at FoB $1185 per tonne, lower by $25 from $1210 from last week. It is lower by 18.67% from

$1457 per tonne during December 2014. Similarly, Castor meal is quoted at $95 per tonne,

lower by $2 from previous week. It is ruling lower by 30.15% from $136 during December

2014. Stock of 16980 MT has been delivered out of 16980 MT stock allotted in December

expiry contract through exchange clearing process. As on 21st Dec 2015, NCDEX approved

warehouses have 128555 MT of valid stocks and 855 MT stocks is in process.

✍ RM SEED

In Rajasthan till 18th Dec’15, 23.61 Lakh hectares are under RM Seed cultivation compared to

24.34 Lakh hectares in previous year. According to ministry of Agriculture rabi oilseed sowing

till 18th Dec’15 is around 69.20 Lakh ha compared to 73.43 Lakh ha previous year same

duration. As per SEA of India, RM Seed Oilcake exports in Nov’15 are at 12,845 MT down by

67.2%. Around 1 Lakh bags were reported in the country with spot prices at Jaipur hovering in

the range of Rs5015- 5020/quintal. In Jaipur, Kachi Ghani traded around Rs937-938/10 Kg and

mustard oil cake hovered in the range of Rs2545-2550/quinta

✍ JEERA

Jeera prices closed higher by 0.31 per cent on Friday at the National Commodity & Derivatives

Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the

midst limited arrivals from growing regions. At the NCDEX, jeera futures for January 2015

contract closed at Rs. 14,640 per quintal, up by 0.31 per cent, after opening at Rs. 14,555

against the previous closing price of Rs. 14,595. It touched the intra-day high of Rs. 14,750.

Sentiment improved further as a result of reduced domestic supplies in the physical markets

and some export enquiries.

The total daily arrivals were reported at around 4,000 bags (1 bag=55kg.) Despite of weak

scenario in spot market, future prices traded up due to short covering. Hence, the January

futures ended the day in green at Rs 14695 per quintal, up by 2.3 % Stock position of

commodities at NCDEX approved warehouse as on 22 December 2015 is 2681 MT.

✍ CORIANDER

Coriander Jan futures opened lower but traded higher for most part of the trade on covering of

previously built short positions. However, the recovery was limited and Jan futures closed the

trade at Rs. 8542 per quintal, almost flat from its previous day’s close. Slower pace of sowing

also supported the market to trade higher. At Kota spot, both Eagle and Badami varieties traded

higher by Rs. 100 each on improved buying from spice industries. Even though the exports are

rising, there are ample stocks of Coriander in the domestic market. Out of 15020 Mt of Dhaniya

allotted for delivery through exchange clearing process, 14740 MT stocks have been delivered.

As on 21st Dec 2015, 20211 MT of valid stock and 50 MT of stock in-process is available in

the NCDEX approved warehouses.

✍ CHANA

Chana prices closed higher 1.46 per cent on Friday at the National Commodity & Derivatives

Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on

account of the good demand in the market. At the NCDEX, chana futures for January 2015

contract closed at Rs. 4,868 per quintal, up by 1.46 per cent, after opening at Rs. 4,785 against

the previous closing price of Rs. 4,798. It touched the intra-day high of Rs. 4,878. Moreover,

the restricted arrivals of the commodity in the physical market due to lower estimated output

also influenced the chana prices.

Fresh kharif crop has started arriving in the market; but pulses price is rising because the output

is expected to be smaller in comparison to previous year. Government agencies which are

entering in to the market for creating a buffer stock for next year are finding it tough to buy

pulses because private players are paying much more than the MSP. According to vice

president of the Indian Pulses and Grains Association (IPGA) Bimal Kothari "Tur and urad

(black gram) prices will remain high throughout the next year as the yield is expected to be

lower”. Due to below average rain in Maharashtra and Karnataka pulses production has

affected badly. Chana from Australia has reached Indian ports which limited the uptrend in

Chana prices. Presently, India's yield per hectare for pulses is around 700 kg, much lower than

the global yield in pulses. Russia has stepped up exports of chickpeas to India. According to

Russian customs data, chickpea exports rose 17% during the first five months of 2015/16. As

on 21st December 2015 the total stock of Chana in NCDEX accredited warehouses was 530

MT.

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.