Evening Roundup. Day so far. Geofin Comtrade Ltd. US ISM Manufacturing 20:30 IST. Geofin Research Desk, Kochi.

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1 Geofin Comtrade Ltd. Geojit BNP Paribas Building,10th Floor, 34/659-P, Civil Line Road, Padivattom Kochi Kerala Phone: Geofin Research Desk, Kochi Hareesh V Head of Commodity Research Krishnaprasad NB Vinod T. P. Abraham Francis Anu V Pai MCX Member code: FMC No.: MCX/TCM/CORP/1710 NCDEX Member code : FMC No.:NCDEX/TCM/CORP/0895 NMCE Member code: CL0324 FMC No.: NMCE/TCM/CORP/0245 ACE Member code: 6192 FMC No: ACEL/TCM/CORP/0429 Disclaimer : Trading/investing in Commodity Derivatives involves considerable risk you may lose part or all of the initial investment. It is not ideal for all types of investors, and you are advised to seek professional assistance before the same. Past performance may not necessarily be repeated in the future. The news and views posted on this report is based on information which is believed to be accurate. This report is provided to enable you to make your own investment decisions and should not be construed as investment advice. The anticipatory moves mentioned in the report is purely subject to technical studies and does not take into consideration sudden currency volatility and data events. The author, directors and/or employees of Geofin Comtrade cannot be held responsible for the accuracy of the content posted on this report or for decisions taken by the readers based on such information December 1, 2015 Evening Roundup A Daily Report on Bullions, Base Metal & Energy US ISM Manufacturing 20:30 IST Day so far Markets regained optimistic momentum amid speculation that slew of feeble economic reports from China may force policy makers to introduce fresh stimulus measures in the economy. Earlier an economic report released from Asia s largest economy showed that the official manufacturing purchasing managers' index in the region declined to a three-year low of 49.6 in November from 49.8 a month earlier. Among the base metals on the LME Copper edge half percent higher, while the rest are exbiting a flattish action. On the other hand spot gold reversed initial weakness as the US dollar pulled back from an eight-month high. However gains were seen limited as market players braced for a hike in interest rates by the Federal Reserve later this month. In the energy segment Crude Oil futures are exhibiting a volatile action as traders await fresh weekly data on US Crude stockpiles and refined products. The American Petroleum Institute (API) will release its weekly supply report later in the day, while the US energy department (EIA) will release its periodic inventory report tomorrow.

2 MAJOR COMMODITIES IN MCX /NCDEX INTERNATIONAL PRICES Commodity Last %Chg Open High Low Close Vol Gold Silver Crude Oil Natural Gas Copper Nickel Lead Zinc Aluminium Gold Hedge Commodity Rate % Chg Gold ($/oz) Silver (c/oz) Nymex Crude ($/bbl) Nymex NG ($/mmbtu) LME Copper ($/T) LME Nickel ($/T) LME Lead ($/T) LME Zinc ($/T) LME Aluminium ($/T) LME Tin ($/T) Last updated at 16:00 IST Daily % change Aluminium Zinc Lead Nickel Copper Natural Gas Crude Oil Silver Gold GAINERS / LOSERS (MCX) Monthly % change Aluminium Zinc Lead Nickel Copper Natural Gas Crude Oil Silver Gold INDICES UPDATES Indices Rate % Chg Dow Jones Fut** CAC** DAX** Shanghai* MSCI Asia Pacific index Baltic Dry index Dollar index Metal LME STOCK Net change Warrant change Tonnage ratio Copper Aluminium Nickel Zinc Lead RATIOS Ratios Daily 5 Days Monthly 90 Days High Low High Low High Low Gold Silver ratio Gold Crude ratio Lead Zinc ratio Steel Nickel ratio Lead Aluminiratio grams of Silver is required to buy one gram of Gold liters of Crude is required to buy one gram of Gold 1.06 kg of Zinc is required to buy one of Lead kg of Steel is required to buy one of Nickel 1.13 kg of Aluminium is required to buy one of Lead

3 EVENT IN FOCUS US ISM manufacturing will be the main data that the investors will be eying in the session ahead. While the most of the economic indicators from the US have been supporting a sanguine outlook on US economy, data from the manufacturing sector has been not so encouraging. However, today s ISM data may prove to be otherwise. An expansion is expected in November. ECONOMIC DATA Time Currency Economic Data/Events Forecast Actual Previous Monday, November 30, :20 Japan Industrial Production (MoM) (OCT P) 1.80% 1.10% 05:20 Japan Industrial Production (YoY) (OCT P) -0.90% -0.80% 12:30 Euro Zone German Retail Sales (MoM) (OCT) 0.40% 0.00% 12:30 Euro Zone German Retail Sales (YoY) (OCT) 2.90% 3.40% 17:30 India GDP Q3 (YoY) 7.10% 7.00% 18:30 Euro Zone German CPI (MoM) (NOV P) 0.10% 0.00% 18:30 Euro Zone German CPI (YoY) (NOV P) 0.40% 0.30% 18:30 Euro Zone German CPI - EU Harmonised (MoM) (NOV P) 0.10% 0.00% 18:30 Euro Zone German CPI - EU Harmonised (YoY) (NOV P) 0.30% 0.20% 19:30 US NAPM-Milwaukee (NOV) :15 US Chicago Purchasing Manager (NOV) :30 US Pending Home Sales (MoM) (OCT) 1.00% -2.30% 20:30 US Pending Home Sales (YoY) (OCT) 4.50% 2.50% 21:00 US Dallas Fed Manufacturing Activity (NOV) Tuesday, December 1, :30 China Manufacturing PMI (NOV) :30 China Non-manufacturing PMI (NOV) :05 Japan Nikkei Japan PMI Mfg (NOV F) :15 China Caixin China PMI Mfg (NOV) :00 India RBI Rate Decision 6.75% 6.75% 14:25 Euro Zone German Unemployment Change (NOV) -5k -5k 14:25 Euro Zone German Unemployment Rate s.a. (NOV) 6.40% 6.40% 14:25 Euro Zone Markit/BME Germany Manufacturing PMI (NOV F) :30 Euro Zone Markit Eurozone Manufacturing PMI (NOV F) :00 Euro Zone Markit UK PMI Manufacturing s.a. (NOV) :30 Euro Zone Unemployment Rate (OCT) 10.80% 10.80% 20:15 US Markit US Manufacturing PMI (NOV F) :30 US Construction Spending (MoM) (OCT) 0.60% 0.60% 20:30 US ISM Manufacturing (NOV) :30 US ISM s Paid (NOV) 40 39

4 BULLION GOLD M MCX Jan Daily GOLDM DEC (BOM) TOLAS 27,000 26,500 26,000 25,500 25, ,000 24, Aug 15 Sep 15 Oct 15 Nov 15 R R /25790 R /25545 Turnaround S /800 S S s still under selling pressure without much positive bias and expect to test the downside projected objective of But rigid trades above may temporarily lift prices to region SILVER M Daily SILVERM FEB (BOM) 39,000 38,000 37,000 36,000 R Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 35,000 34, ,000 33,000 R R Turnaround S /33450 S still need to make solid trades above convincingly to initiate fresh buying towards the upside objective of region or even more. Inability to succeed above may snatch down prices to region. S

5 BASE METALS COPPER MCX Feb Daily COPPER FEB (BOM) Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec R3 324 R2 321 R1 313/ Turnaround S / Intraday move expect to be north bound with a scaled objective of 313 or even higher to however in this positive bias direct fall below may bid fresh selling towards / region. S2 301/ S NICKEL Daily NICKEL DEC (BOM) R3 644 R2 623/631 R1 608/614 Turnaround 600 S1 585/578 S2 565 S Sep 15 Oct 15 Nov 15 Dec 15 As long as 600 region caps upside prices expect to give a slippage towards the downside objective of 585/578 region. While convincing trades above 600 may entice fresh buying towards 608/614 region.

6 BASE METALS LEAD M Daily LEADMINI DEC5 38.2% % % % (BOM) R R / R / Turnaround S /107.20/ S2 106/ S Sep 15 Oct 15 Nov 15 Dec 15 Current selling sentiments may stretch lower towards the immediate downside objective of firstly followed by Thus in this dominant selling view stalwart trades above may lift prices towards region. ZINC M Daily ZINCMINI DEC (BOM) R R / R /106.70/ Turnaround S S S Sep 15 Oct 15 Nov 15 Dec 15 Ensuing selling momentum may probably to extend lower towards the downside objective of 102 region or even lower in coming session. Even in this dreary picture surprise move above may push prices higher to region.

7 BASE METALS ALUMINI Daily ALUMIN MINI DEC (BOM) R R R /99.90/ Turnaround 98 S /95 S / Sep 15 Oct 15 Nov 15 Dec Weakness may extend lower towards the immediate price objective of 95.80/95 or even further down. In this bearish mood solid trades above 98 may dent our bearish sentiments.. 93 S CRUDE OIL MCX/NCDEX Dec Daily CRUDE OIL DEC5 ENERGY (BOM) Bbl 3,200 3,100 3,000 2,900 R R2 3000/3048 R1 2840/2895/2960 Turnaround 2770 S1 2725/ Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 2, ,800 2,700 2,600 Intraday move expect to be north bound towards the upside objective of 2840/2895 sooner or later. On the flipside intraday weakness may see only below 2770 region. S2 2615/2550/2510 S3 2470

8 ENERGY NATURAL GAS Daily NATURALGAS DEC (BOM) MMBTU Aug 15 Sep 15 Oct 15 Nov 15 Dec R /167 R2 162 R / 157/ Turnaround 152 S S S3 141/ Broad weakness may persist lower towards the downside objective of / or even lower. However palpable trades above 152 may entice fresh buying towards /157. Geofin Research Team, Kochi Phone: / Mobile: Hareesh V Head of Commodity Research hareesh_v@geofin.co.in Krishnaprasad NB krishnaprasad_nb@geofin.co.in Vinod T. P. vinod_tp@geofin.co.in Abraham Francis abraham@geofin.co.in Anu V Pai anu_vp@geofin.co.in Vishidha Vijayakumar vishidha_v@geofin.co.in This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from Geofin Comtrade Ltd.