Choice Commodity Research

Crude Oil Update Crude Oil trading slightly up as markets tracked renewed US-Iran talks. Trump preferred a deal but warned of consequences if negotiations fail. Middle East tensions and supply disruptions supported prices, while fresh tariff risks added uncertainty. -Choice Broking

*Rupee Update* The rupee rose to 90.9 per dollar on expected foreign inflows from state IPOs. Optimism grew ahead of Canada PM Carney’s India visit. RBI support, strong reserves at $725.7 billion, and dollar-buying plans added stability. -Choice Broking

*Bullion Update* Bullion prices fell on profit booking amid trade and geopolitical uncertainty. FedEx sought tariff refunds after the Supreme Court blocked Trump’s emergency duties. Trump warned of higher tariffs, while markets closely watch upcoming US-Iran nuclear talks. -Choice Broking

*Copper Update* Copper futures surged as Chinese traders returned after holidays. Hopes of lower US tariffs lifted sentiment after the Supreme Court blocked Trump’s reciprocal duties. However, higher prices may slow Chinese buying, while inventories in London and New York continue rising. -Choice Broking

*Dollar Update* The dollar index rose above 97.8 as investors weighed US trade uncertainty. FedEx sought tariff refunds after the Supreme Court blocked Trump’s emergency duties. Trump warned of higher tariffs, while markets also tracked US-Iran talks and yen intervention reports. -Choice Broking

CH 1-y Loan Prime Rate Actual : 3.00% Forecast : 3.00% Prev.: 3.00% Impact : Neutral for Base metals CH 5-y Loan Prime Rate Actual : 3.50% Forecast : 3.50% Prev.: 3.50% Impact : Neutral for Base metals PBoC has kept it stable for 9th consecutive month.

*Global Update* • US President Donald Trump increase global tariffs from 10% to 15% after a Supreme Court ruling on reciprocal tariffs, cautioning against countries that “play games” with trade agreements. • US Factory Orders fell by 0.7% in December, missing expectations and raising concerns about economic momentum. • Fed Governor Christopher Waller supported a 25 bps rate cut due to a gradual weakening in the labor market. • ECB President emphasized the need for agility in monetary policy, stating interest rates will be decided on a meeting-by-meeting basis with risks considered “broadly balanced.” • Renewed talks between the US and Iran are scheduled; however, there are warnings of severe repercussions for Tehran if a nuclear deal is not reached. • Tokyo urged Washington to ensure the tariff ruling does not negatively impact Japanese firms and confirmed its commitment to the US trade deal. • The People's Bank of China maintained its rates for the ninth consecutive month, signaling no immediate plans for broad monetary easing. -Choice Broking

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in CRUDEOIL|17MAR26 CE 6100.00

Natural Gas prices down by -3.8% from its day high now the next support seem around 278–274

Sumeet Bagadia’s Desk : Book Part Profit @ 366.1...Buy in Commodity CRUDEOIL|17MAR26 CE 6100.00 @ 342 SL 310 TGT 406.00

Sumeet Bagadia’s Desk : Book Part Profit @ 366.1...Buy in Commodity CRUDEOIL|17MAR26 CE 6100.00 @ 342 SL 310 TGT 406.00

Sumeet Bagadia’s Desk : Stopped Out @ 19.3...Buy in Commodity NATURALGAS|24MAR26 CE 280.00 @ 21.9 SL 19.3 TGT 27.10

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in GOLDM|26FEB26 CE 160000.00

Sumeet Bagadia’s Desk:Buy NATURALGAS|24MAR26 CE 280.00 in Commodity @ 21.9 SL 19.3 TGT 27.10

Sumeet Bagadia’s Desk:Buy CRUDEOIL|17MAR26 CE 6100.00 in Commodity @ 342 SL 310 TGT 406.00

Sumeet Bagadia’s Desk : Book Part Profit @ 1465...Buy in Commodity GOLDM|26FEB26 CE 160000.00 @ 1326 SL 1149 TGT 1680.00

Sumeet Bagadia’s Desk : Book Part Profit @ 1465...Buy in Commodity GOLDM|26FEB26 CE 160000.00 @ 1326 SL 1149 TGT 1680.00

Sumeet Bagadia’s Desk:Buy GOLDM|26FEB26 CE 160000.00 in Commodity @ 1326 SL 1149 TGT 1680.00