Commodity Special Weekly Journal

Strictly For Client Circulation

Sebi Reg. No.:- INH000003358
16th to 20th October 2017

GOLD 29848 SILVER 40274

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 Market Weekly Wrapup
Sebi Reg. No.:- INH000003358

9th to 13th October 2017

Scrip Contract Open Price High Low Close Price

Gold 05-Dec-2017 29698 29900 29664 29848

Silver 05-Dec-2017 40101 40470 39333 40274

Crude Oil 18-Oct-2017 3240 3360 3218 3304

Natural Gas 26-Oct-2017 188.20 197.50 185.90 195.30

Copper 30-Nov-2017 437.90 451.25 437.30 448.10

Zinc 31-Oct-2017 214 217.50 210.60 212.35

Lead 31-Oct-2017 164.30 168.45 161.95 163.55

Aluminium 31-Oct-2017 139.70 141.40 136.80 137.45

Nickel 31-Oct-2017 698.60 757.40 697.90 756

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 Weekly Support & Resistance Sebi Reg. No.:- INH000003358

16th to 20th October 2017

Scrip Contract RES-2 RES-1 PIVOT SUP.1 SUP.2

Gold 05-Dec-2017 30040 29944 29804 29708 29568

Silver 05-Dec-2017 41162 40718 40025 39581 38888

Crude Oil 18-Oct-2017 3436 3370 3294 3228 3152

Natural Gas 26-Oct-2017 205 200 193 188 181

Copper 30-Nov-2017 460 454 446 440 432

Zinc 31-Oct-2017 220 216 213 209 207

Lead 31-Oct-2017 171 167 165 161 158

Aluminium 31-Oct-2017 143 140 139 136 134

Nickel 31-Oct-2017
796 775 736 715 677

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Market News
Sebi Reg. No.:- INH000003358

16th to 20th October 2017

Special News

Crude Oil Prices Remain Supported, Hit 2-Week Highs

Crude oil prices remained supported on Friday, climbing to two-week highs following news of a
third weekly decline in U.S. crude stockpiles, strong import data from China and recent signals the
market is tightening.
The U.S. West Texas Intermediate crude November contract was up$1.09 or about 2.15% at
$51.67 a barrel by 09:15 a.m. ET (13:15 GMT),its highest since September 29.
Elsewhere, Brent oil for December delivery on the ICE Futures Exchange in London was up $1.15
or about 2.01% at $57.38 a barrel, also the highest level since September 29.
Prices rose after the U.S. Energy Information Administration said in its weekly report on Thursday that crude oil inventories fell by 2.75
million barrels in the week ended October 6.
Gold Prices Trim Gains But Remain Near 2-Week Peak
Gold prices trimmed gains on Thursday, as a string of upbeat U.S. economic reports lent some
support to a weakened dollar, although caution ahead of Friday's U.S. inflation data was expected
to limit the greenback's gains.

Comex gold futures were up $5.71 or about 0.44% at $1,294.71 a troy ounce by 09:00 a.m. ET
(13:00 GMT), after rising to a two-week peak of $1,299.85 earlier in the day.

The greenback strengthened after the U.S. Department of Labor reported on Thursday that initial jobless claims fell more than expected
to 243,000 last week.

A separate report showed that producer prices increased 0.4% in September, in line with expectations. Core producer prices, which
exclude food and energy also rose 0.4%, beating expectations for a 0.2% uptick.

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Commodity Buzz Sebi Reg. No.:- INH000003358

16th to 20th October 2017

COMEX Gold Tests $1300 Before Slipping, US CPI In Focus

MCX Gold futures witnessed a mid-session selloff as global prices came off their two week highs ahead of the weekend and the critical US
inflation reading. The commodity has edged up impressively this week, witnessed repeated buying as investors eyed a pickup in Indian dem-
and ahead of the Diwali festival. However, the nervousness of the traders pertaining to the likely stance of the US Fed yet again pulled Gold
lower from highs. COMEX Gold is currently trading at $1296.66 per barrel, flat on the day after testing the $1300 levels briefly. MCX Gold
futures are in red, down 0.17% to trade at Rs 29762 per 10 grams after hitting a high near Rs 29850 levels.

Meanwhile, the market is waiting for the US consumer price inflation reading which will be released later on today. The US Fed is likely to
raise rates so long as the medium-term economic outlook remains unchanged, according to the minutes of its latest meeting out earlier this
week. The Fed noted that recent hurricanes had not disrupted that outlook and it expects slower growth for a few months, but does not exp-
ect a long-term effect. Some Fed policy members expressed concerns about inflation running below its 2% annual target, while others wor-
-ried that waiting for inflation to normalize policy could lead to an overheated market. The todays reading on consumer prices has assumed
greater significance in light of these comments from the Fed.

Energy Preview: Crude Holds Around $51 Levels, Broad Demand Side Cues Remain Supportive
WTI Crude oil is holding up near $51 per barrel as falling US crude inventories are supporting sentiments. Broad demand side remains bullish
too. EIA reported a 2.8-million-barrel draw in US crude oil inventories for the week to October 6th yesterday. This boosted the sentiments after
a drop in the WTI futures. MCX Crude oil futures closed down 1.67% at Rs 3291 per barrel yesterday. Oil has managed to edge up after testing
its three week low.

Oil cartel OPEC said in its latest Monthly Oil Market Report that it had revised upwards its 2017 oil demand growth forecast by 30,000 bpd to
1.5 million bpd, which also helped to boost prices despite the cartel also reporting an increase in its September oil production to 32.75 million
barrels 25,000 bpd above the quota OEPC agreed to last November

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Technical Outlook on Bullion Sebi Reg. No.:- INH000003358

16th to 20th October 2017

MCX Gold likely trade in a range between 29618-29998
Technically MCX Gold is getting support at 29716 and below same could see a test of 29618
levels and resistance is now likely to be seen at 29906, a move above could see prices
testing 29998.

Gold on MCX settled up 0.36% at 29814 climbed in yesterdays session as support seen after
minutes from the Fed's last meeting, released Wednesday night, suggested divided opinions
on whether to raise interest rates again this year.

The FOMC Meeting Minutes being released during the Wednesday session should continue to
drive this market overall. Ultimately, the market should continue to see a lot of influence coming
from the US dollar, and that being said, the market will react to what the Fed is going to do.

If they become more hawkish, then that will work against precious metals overall. On the other hand, if the Federal Reserve looks dovish,
and catches the market somewhat off guard, the market should continue to go to the upside.

Silver market under fresh buying; Support seen at 40177

Technically Silver market is under fresh buying as market has witnessed gain in open interest by 0.91% to settled at 13309 while prices up
223 rupees.

Now MCX Silver is getting support at 40177 and below same could see a test of 40001 levels and resistance is now likely to be seen at
40477, a move above could see prices testing 40601.

Silver on MCX settled up 0.56% at 40352 as investors read minutes from the Federal Reserves September policy meetings as slightly
dovish, offering a lift to the commodity.

An account of the most recent meeting of the Federal Open Market Committee, released after gold futures settled Wednesday, showed
signs that policy makers questioned the need for an interest-rate hike in Decemberthough one appears likelyas levels of inflation
continued to track below the central banks 2% annual target.

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Technical Outlook on Energy Sebi Reg. No.:- INH000003358

16th to 20th October 2017

Crude Oil market under long liquidation; Support seen at 3264
Technically Crude Oil market is under long liquidation as market has witnessed drop in open
interest by 5.87% to settled at 8242 while prices down 51 rupees.

Now MCX Crude Oil is getting support at 3264 and below same could see a test of 3231 levels
and resistance is now likely to be seen at 3330, a move above could see prices testing 3363.

Crude Oil on MCX settled down -1.52% at 3296 as a bearish outlook on global oil demand for
2018 offset data showing U.S. crude oil stockpiles fell for the third-straight week.

Crude Oil prices fell for the first time in three days as investors mulled over a mixed report from
the Energy Information Administration (EIA) showing crude stockpiles fell more than expected while gasoline supplies swelled.

MCX Natural Gas likely to trade in a range between 186.4-200.8

Technically MCX Natural Gas is getting support at 191 and below same could see a test of 186.4 levels and resistance is now likely to be
seen at 198.2, a move above could see prices testing 200.8.

Natural Gas on MCX settled up 2.68% at 195.70 as prices rebounded rising more than 2.68%, despite warmer than normal weather that is
expected to cover most of the United States for the next 8-14 days. The EIA reported a larger than expected build in Natural Gas
inventories.

Data from the U.S. Energy Information Administration on Thursday showed that domestic supplies of natural gas rose by 87 billion cubic
feet for the week ended Oct. 6. Total stocks now stand at 3.595 trillion cubic feet, down 153 billion cubic feet from a year ago, and 8 billion
cubic feet below the five-year average, the government said.

This represents a net increase of 87 Bcf from the previous week, compared to the 85 Bcf expected. Stocks were 153 Bcf less than last year
at this time and 8 Bcf below the five-year average of 3,603 Bcf. At 3,595 Bcf, total working gas is within the five-year historical range

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Technical Outlook on Base Metals Sebi Reg. No.:- INH000003358

16th to 20th October 2017

Copper market under short covering; Resistance seen at 452.1
under short covering as market witnessed gain in open interest buy 4% to settled at 19157 while
prices up 13.95 rupee last week.

Now MCX Copper is getting support at 446.4 and below same could see a test of 443.1 levels
and resistance is now likely to be seen at 452.1, a move above could see prices testing 454.5.

Copper on MCX settled up 0.56% at 449.50 as dollar dropped and on track for weekly losses as
investors awaited U.S. inflation data to gauge the likelihood that the Federal Reserve will stick to
its plan to raise interest rates again this year.

Copper prices hit their highest in more than a month as optimism over the demand outlook from major consumer China fuelled buying. Solid
demand in China has opened the "arbitrage window" for copper imports. Premiums for copper held in China's bonded zones have climbed
by $9 this week to $74, the highest in more than two months.

Zinc under fresh buying; Support seen at 209.80

Lead under fresh buying; Support seen at 161.90

Aluminium under short covering; Support seen at 136.55

Nickel fresh buying; Resistence seen at 782.20

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Analyst Speak Sebi Reg. No.:- INH000003358

16th to 20th October 2017

INDIAN
Gold MCX COMEX

Technically gold market is getting support at 29708and below same RESISTANCE 2 30040
could see a test of 29568 levels and resistance is now likely to be
seen at 29944a move above could see prices testing 30040. RESISTANCE 1 29944

Gold on MCX settled down -0.06% at 29387 settled inched lower as

US stocks surged to fresh record highs, denting the precious metal's PIVOT 29804
safe haven appeal.

SUPPORT 1 29708
BUY GOD DEC AROUND 29500-29550
TGTS 29950/30450 SL 29100
SUPPORT 2 29568

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Analyst Speak Sebi Reg. No.:- INH000003358

16th to 20th October 2017

CRUDE OIL MCX

INDIAN COMEX

Technically now Crude oil is getting support at 3228 and below same RESISTANCE 2 3436
could see a test of 3152 levels and resistance is now likely to be
seen at 3370 a move above could see prices testing 3436.
RESISTANCE 1 3370
Crude oil on MCX settled up 1.44% at 3313 as signs Saudi Arabia
and Russia would limit production through next year pushed the PIVOT 3294
U.S. benchmark back above $50 a barrel.

SUPPORT 1 3228
BUY CRUDE OIL OCT ABOVE 3350
TGTS 3400/3450 SL 3250
SUPPORT 2 3152

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Analyst Speak Sebi Reg. No.:- INH000003358

16th to 20th October 2017

INDIAN COPPER MCX COMEX

Technically now Copper is getting support at 440 and below same RESISTANCE 2 460
could see a test of 432 levels and resistance is now likely to be
seen at 454. a move above could see prices testing 460.
RESISTANCE 1 454
Copper on MCX settled up 3.02% at 439.6 amid supply concerns in
China. Plans to reopen one of the world's biggest copper mines, PIVOT 446
shut by a civil war on the Pacic Island of Bougainville in 1989,
have run into trouble.
SUPPORT 1 440
SELL COPPER NOV AROUND 451-449
TGTS 445/440 SL 456
SUPPORT 2 432

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 Economic Events Sebi Reg. No.:- INH000003358

16th to 20th October 2017

COUNTRY Date TIME EVENT ACTUAL FORECAST PREVIOUS

Mon
6:00pm Empire State Manufacturing Index 20.3 24.4
Oct 16

Tue 6:00pm Import Prices m/m 0.6% 0.6%

Oct 17
6:45pm Capacity Utilization Rate 76.2% 76.1%

Industrial Production m/m 0.4% -0.9%

10:30pm FOMC Member Harker Speaks

Wed 5:30pm FOMC Member Dudley Speaks

Oct 18
FOMC Member Kaplan Speaks

6:00pm Building Permits 1.25M 1.27M

USD

Housing Starts 1.18M 1.18M

8:00pm Crude Oil Inventories -2.7M

Thu
6:00pm Unemployment Claims 245K 243K
Oct 19

Philly Fed Manufacturing Index 22.2 23.8

8:00pm Natural Gas Storage 87B

Fri Existing Home Sales

7:30pm 5.32M 5.35M
Oct 20

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Team :

Name Designation Email

Mr. Prateek Gupta (Technical Research Analyst-head)

Mr. Lakhan Patidar (Sr. Derivative & Technical Analyst)

Mr. Dharmendra Saloniya (Commodity Research Analyst)

Mr. Shubham Chinwar (Sr. Graphic Designer)

Checked By :-

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