✍ MCX DAILY LEVELS

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

ALUMINIUM 31 DEC 2015 104 103 102 101 100 99 98 97 96

COPPER 29 FEB 2015 319 317 315 313 311 309 307 305 303

CRUDE OIL 18 DEC 2015 2760 2740 2720 2700 2680 2660 2640 2620 2600

GOLD 05 FEB 2015 25880

25830 25770 25720 25650 25600 25550 25500 25450

LEAD 31 DEC 2015 117 116 115 114 113 112 111 110 109

NATURAL GAS 28 DEC 2015 149 148 147 146 145 144 143 142 141

NICKEL 31 DEC 2015 626

622 618 614 610 604 600 596 592

SILVER 04 MAR 2015 35520

35420 35320 35220 35100 35000 34900 34800 34700

ZINC 31 DEC 2015 108 107 106 105 104 103 102 101 100

✍ MCX WEEKLY LEVELS

WEEKLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 31 DEC 2015 107 105 103 101 99 97 95 93 91

COPPER 29 FEB 2015 323 320 317 314 311 308 305 302 299

CRUDE OIL 18 DEC 2015 2820 2780 2740 2700 2660 2630 2600 2570 2540

GOLD 05 FEB 2015 26050 25950 25850 25750 25650 25550 25450 25350 25250

LEAD 31 DEC 2015 120 118 116 114 112 110 108 106 104

NATURAL GAS 28 DEC 2015 153 151 149 147 145 143 141 139 137

NICKEL 31 DEC 2015 645 635 625 615 605 595 585 575 565

SILVER 04 MAR 2015 35950 35750 35550 35350 35150 35000 34800 34600 34400

ZINC 31 DEC 2015 112 110 108 106 104 102 100 98 96

WEEKLY MCX CALL

SELL ZINC DEC BELOW 102 TGT 100 SL 104

PREVIOUS WEEK CALL

SELL GOLD FEB BELOW 25100 TGT 24950 SL 25253- SL TRIGGERED.

SELL ZINC DEC BELOW 103.30 TGT 102.30 SL 105.20 - MADE LOW OF 102.60

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

USDINR 29 DEC 2015 68 67.60 67.35 37.20 67.05 66.85 66.75 66.45 66.10

GBPINR 29 DEC 2015 103.30

102.65 102 101.60 101.35 100.95 100.70 100.05 99.40

EURINR 29 DEC 2015 75.30

74.55 73.75 73.30 73.00 72.55 72.25 71.50 70.74

JPYINR 29 DEC 2015 55.85

55.45 55.05 54.80 54.65 54.40 54.25 53.85 53.45

FOREX✍ WEEKLY LEVELS

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

USDINR 29 DEC 2015 68.70

68.20 67.70 67.20 66.80 66.40 66 65.60 65.20

GBPINR 29 DEC 2015 106.80

104.85 102.85 102.05 100.95 100.09 98.95 97 95.05

EURINR 29 DEC 2015 80.85

78.00 75.15 73.95 72.35 71.15 69.345 66.62 63.75

JPYINR 29 DEC 2015 56.70

55.95 55.25 54.90 54.55 54.15 53.80 53.00 52.35

WEEKLY FOREX CALL

SELL EURINR DEC BELOW 72.50 TGT 71.50 SL 73.50

PREVIOUS WEEK CALL

SELL GBPINR DEC BELOW 100.76 TGT 100.10 SL 101.35 - TGT ACHEIVED

✍ NCDEX DAILY LEVELS

DAILY EXPIRYDATE

R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 20 JAN 2015 656 648 640 637 632 629 624 616 608

SYBEANIDR 20 JAN 2015 3980 3912 3844 3807 3776 3739 3708 3640 3572

RMSEED 20 JAN 2015 5102 5022 4942 4898 4862 4818 4782 4702 4622

JEERAUNJHA 20 JAN 2015 16615 16415 16215 16100 16015 15900 15815 15615 15415

CHANA 20 JAN 2015 5099 5019 4939 4891 4859 4811 4779 4699 4619

CASTORSEED 20 JAN 2015 4113 4055 3997 3968 393 3910 3881 3823 3765

✍ NCDEX WEEKLY LEVELS

WEEKLY EXPIRYDATE

R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 20 JAN 2015 693 671 649 642 627 620 605 583 561

SYBEANIDR 20 JAN 2015 4476 4259 4042 3906 3825 3689 3608 3391 3174

RMSEED 20 JAN 2015 5275 5143 5011 4933 4879 4801 4747 4615 4483

JEERAUNJHA 20 JAN 2015 17771 17211 16651 16318 16091 15758 15531 14971 14411

CHANA 20 JAN 2015 5465 5256 5047 4945 4838 4736 4629 4420 4211

CASTORSEED 20 JAN 2015 4238 4139 4040 3989 3941 3890 38/42 3743 3644

WEEKLY NCDEX CALL

SELL TMC JAN BELOW 10050 TGT 9750 SL 10350

PREVIOUS WEEK CALL

BUY JEERA JAN ABOVE 16550 TGT 16900 SL 16200 - NOT EXECUTED.

MCX - WEEKLY NEWS LETTERS

INTERNATIONAL NEWS

✍ PRECIOUS METAL

1. Goldman Sachs said on Friday that oil prices will likely remain "lower for even longer," asOPEC members failed to agree on a new production ceiling at the cartel's meeting inVienna.

2. U.S. employment increased at a healthy pace in November, in another sign of theeconomy's resilience, and will most likely be followed by the first Federal Reserve interestrate rise in a decade later this month.

3. OPEC members failed to agree an oil production ceiling on Friday at a meeting that endedin acrimony, after Iran said it would not consider any production curbs until it restoresoutput scaled back for years under Western sanctions.

4. U.S. energy firms this week cut oil rigs for the 13th week in the last 14, data showed onFriday, a sign drillers were still waiting for higher prices before returning to the well pad.

Gold

Prices of standard gold increased 1.5 per cent in Zaveri Bazaar (in Mumbai) on Saturdayfollowing similar moves in global markets. Better-than-expected US job data removed doubtsover interest rate hike as scheduled by the United States Federal Reserves (US Fed) later thismonth resulting in favorable trade sentiment towards bullion. On Saturday, standard gold sawan increase of Rs 390 to close at Rs 25,765 per 10 gram. This resulted in the flight of buyersfrom the Street. Since a section of traders had urged the government to reduce interest rate fromthe existing 10 per cent to two per cent, consumers abstained from fresh buying amidexpectations of a decline in prices.In London, gold price jumped 2.32 per cent to settle at$1,086.84 (about Rs 72,436) an oz on Friday as compared to $1,062 (about 70,780) an oz theprevious day on better-than-expected US job data. Gold for delivery in February 2016 onComex division of the New York Mercantile Exchange was up to $1,062 an oz as against$1,068 (Rs 71,180) before the release of the data.

The US economy added 211,000 jobs last month against 201,000 jobs with an employment rateremained unchanged at five per cent. For October, however, the US government revisedemployment number upwards to 298,000 from 271,000 announced earlier, making thenormalisation of US monetary policy from the month’s FOMC meeting a near certainty.

The dollar responded positively and climbed 0.5 per cent to 1.0894 against the euro.

Silver also followed the trend and rose 3.12 per cent to close in London at $14.55 (about Rs969.7) an oz on Friday as against $14.11 (about Rs 940.4) an oz the previous day. In localmarkets too, silver moved up 1.78 per cent to close at Rs 34,900 a kg on Saturday from the

level of Rs 34,290 a kg on Friday.

“Positive employment data paves the way for an imminent interest rate hike by the US Fed onDecember 16, which would be positive for dollar and negative for gold. Since dollar is set tostrengthen, the price decline in gold would hardly benefit Indian consumers being the rupeeweakening against the dollar," said an analyst.

In local currency, therefore, gold is set to touch Rs 26,000 per 10 grams once again in shortterm before falling to near recent bottom.

Copper

Copper prices fell 0.48% in futures trade today amid a weak trend in the global market andsubdued domestic demand. At the Multi Commodity Exchange, copper for delivery infar-month April next year shed Rs 1.50, or 0.48%, to Rs 308.35 per kg in a business turnover ofone lot.On similar lines, metal for delivery in February was down by Rs 1.40, or 0.45%, to Rs308.35 per kg in 330 lots.Analysts attributed the fall in copper futures to weak global cues amidconcerns about demand from China and the prospect of an imminent US rate hike and lowdemand at the domestic spot markets here. Globally, copper for delivery in three monthsretreated as much as 0.30% to $4,542 per tonne in Shanghai.

Lead

Lead prices fell 0.18% to Rs 110.90 per kg in futures trading today due to sluggish demandfrom battery-makers in the spot market amid a weak global trend. At the Multi CommodityExchange, lead for delivery in current month eased by 20 paise, or 0.18%, to Rs 110.90 per kgin business turnover of 214 lots.Metal for delivery in January next year month contracts shed15 paise, or 0.13%, to Rs 111.65 per kg in six lots. Analysts said besides sluggish demand frombattery-makers in the spot market, a weak trend in select base metals overseas amid concernsabout demand from China and the prospect of an imminent US rate hike mainly kept pressureon lead prices at futures trade.

Nickel

Nickel prices softened 0.45% to Rs 592.40 per kg in futures market today as speculatorstrimmed positions amidst a weak trend overseas and muted demand from alloy makers at thespot market. At Multi Commodity Exchange, nickel for delivery this month traded lower by Rs2.70, or 0.45%, to Rs 592.40 per kg in a turnover of 320 lots. The metal for delivery in Januarynext year weakened by Rs 1.30, or 0.22%, to Rs 600 per kg in six lots.

Analysts said apart from subdued demand from alloy makers in the domestic spot market,weakness in select base metals in global market mainly weighed on nickel futures here.

Energy

Natural gas futures ended little changed on Friday on weather forecasts calling for continuedwarmer-than-normal temperatures that will keep heating demand low through the middle ofDecember. Traders noted the market so far remained unfazed by outlooks calling for easingproduction. U.S. production in the lower 48 states on Thursday fell below the same day a yearago for the first time since October 2013 as some Marcellus and Utica drillers have shut inproduction while they wait for prices in the region to rise or for pipelines to enter service tomove their fuel to regions where prices are higher.

Oil prices fell on Friday after news that theOrganization of the Petroleum Exporting Countries was planning to maintain its productionnear record highs despite depressed prices, as OPEC continued to guard its share of anoversupplied market. The producer group failed to agree on a new production quota, allowingmember countries to continue pumping more than 31 million barrels per day of oil, furtherswelling a global glut that has depressed oil prices for over a year. OPEC's announcement sentripples through wider markets and dented shares of U.S. energy drillers already suffering fromlow prices, but losses in oil futures were limited as prices hit support around $40 a barrel. SaudiArabia has been under pressure from OPEC's poorer members to cut output to bolster prices,which have dropped from over $100 a barrel since June 2014. But Saudi Arabia has beencontent to keep production up, which has squeezed profits for producers in non-OPECcountries, including the United States. Goldman Sachs analysts, which expect OPECproduction to remain slightly above current output at 31.8 million barrels per day in 2016, saidrobust supply could help keep prices low until the fourth quarter of next year. Bullish wagerson U.S. crude oil from hedge funds and other big speculators fell to the lowest level in morethan five years, data from the U.S. Commodity Futures Trading Commission (CFTC) showed.

✍ NCDEX - WEEKLY NEWS LETTERS

Triggered by weather concerns and a rising dollar, prices of agricultural commodities are likelyto remain volatile in 2016. With a rise in the first half of the calendar year, before erasing itsentire gain by the end of the year. It forecasts agri commodity prices in the world market to riseup to 12 per cent by the end of June 2016. This would reflect a strong dollar's pressure, crudeoil price weakness and potential for considerable weather-related production risks.

The forecast indicates that excess supply of agri commodities due to record production in pastyears might not prevent a price rise but the gains could be capped.

Agri commodity stocks remain comfortable and are expected to limit price gains to modestlevels through 2016. But, weather and foreign exchange rates will remain volatile and are thekey variables, presenting both opportunities and challenges for producers and consumers alike.With improved stock levels, we expect price volatility to remain below that of earlier years in

most markets. Most crops saw very good production levels in 2015, despite challenging growthconditions across regions. Despite large stocks in both origin and destination markets, pricesare likely to remain susceptible to supply-side shocks.

The Food and Agriculture Organization (FAO) of the United Nations has also forecast lowerfoodgrain output due to change in climatic conditions. Its latest study, issued early this month,shows world cereal production in 2015 around 2,530 million tonnes, about 1.1 per cent belowthe 2014 record.

The 3.9 per cent rise in global food prices, fulled by a particularly powerful El Niño (weathercondition), should serve as a reminder of the changing landscape of food security. Byimplementing long-term investments such as irrigation, drought tolerance varieties,diversification of food baskets, and social protection, and discouraging export restrictions thatlead to food scarcity and hostility, we can focus on helping the millions in every country whoremain hungry and malnourished.

Chana

Chana prices were up 0.63 per cent to Rs 5,121 per quintal in futures trade on Wednesday asparticipants enlarged positions, triggered by tight stocks position at the spot market onrestricted supplies from producing belts.At the National Commodity and Derivatives Exchange,chana for delivery in December rose by Rs 32, or 0.63 per cent to Rs 5,121 per quintal with anopen interest of 43,440 lots.The January contract edged up by Rs 6, or 0.12 per cent to Rs 4,916per quintal in 30,320 lots.Rise in chana prices to tight stocks position on restricted suppliesfrom producing regions against upsurge in demand.

Jeera

Jeera prices closed higher by 0.03 per cent on Thursday at the National Commodity &Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in thecommodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures forDecember 2015 contract closed at Rs. 15,825 per quintal, up by 0.03 per cent, after opening atRs. 15,870 against the previous closing price of Rs. 15,820. It touched the intra-day high of Rs.15,880. Sentiment improved further as a result of reduced domestic supplies in the physicalmarkets and some export enquiries.

Mustard seed

Mustard Seed prices closed lower by 0.82 per cent on Thursday at the National Commodity &Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders onaccount of the weak crushing and export demand of mustard meal. At the NCDEX, MustardSeed futures for December 2015 contract closed at Rs. 4,725 per quintal, down by 0.82 percent, after opening at Rs. 4,766 against the previous closing price of Rs. 4,764. It touched the

intra-day low of Rs. 4,714. Sentiment weakened further due to the sluggish export demand as aresult of the weak demand for the commodity.

Castorseed

Castorseed prices rose by 0.55 per cent on Wednesday at the National Commodity &Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consumingindustries against restricted arrivals in domestic markets which in turn encouraged the investorsto enlarge their holdings. At the NCDEX, castor seed futures for December 2015 contract weretrading at Rs. 3,868 per quintal tonnes, up by 0.55 per cent, after opening at Rs. 3,852 againstthe previous closing price of Rs. 3,847. It touched the intra-day high of Rs. 3,874 till thetrading.

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