Choice Commodity Research

*Sumeet Bagadia's Desk: Book Part Profit in NATURALGAS strategy* *Approx. Profit of Rs. 2062.5 at cmp* *Call Ratio Spread* Sumeet Bagadia’s Desk: Buy NATURALGAS 260 CE 22-May 1 lot @ 14.90 Sell NATURALGAS 280 CE 22-May 2 lots @ 7.65 Buy NATURALGAS 290 CE 22-May 1 lot @ 5.50 Max loss: 6375 below 260 (on expiry) Max profit of 18,625 at 280 (on expiry) Max profit of 6125 above 290 (on expiry) Risk-Reward: 1 : 3 Margin required: 80,495 Breakeven : 265.10 (Duration: 2 - 3 week)

Crude Oil Update Crude futures rose after a tanker was hit by unknown projectiles in the city of Fujairah in the UAE, Trump’s “Project Freedom” and Iran’s warnings heightened supply risks despite ongoing diplomatic hopes for resolution ahead. -Choice Broking

CRUDE OIL moved up +3% from its day low, next hurddle around 9890

Sumeet Bagadia’s Desk : Book Profit @ 271.7...Buy in Commodity NATURALGAS|26MAY26 @ 270.8 SL 269 TGT 274.40

Sumeet Bagadia’s Desk : Book Part Profit @ 251585...Sell in Commodity SILVERMIC|30JUN26 @ 253033 SL 255000 TGT 249099.00

Base Metal Update Metals firm Nyrstar may close or curtail output at two smelters in the south of Australia if a second phase of transitional funding is not agreed with Canberra and state governments. Impact: Positive for base metal. -Choice Broking

Sumeet Bagadia’s Desk : Stopped Out @ 570...Buy in Commodity CRUDEOIL|14MAY26 PE 9500.00 @ 604.5 SL 570 TGT 673.50

India Manufacturing PMI Actual: 54.7 Expected: 55.9 Previous: 53.9 Impact: Slightly Negative for Rupee. -Choice Broking

Sumeet Bagadia’s Desk:Buy CRUDEOIL|14MAY26 PE 9500.00 in Commodity @ 604.5 SL 570 TGT 673.50

Crude oil Update Seven OPEC+ countries agreed in principle to raise June oil output targets by 188,000 barrels per day, a largely symbolic move amid West Asia tensions and lingering Hormuz uncertainty overall. Impact: Negative for crude oil. -Choice Broking

Bullion Update India’s gold imports are set to fall to a near 30-year low of around 15 tonnes in April after local banks were hit with an unexpected tax, industry and government sources said. Impact: Negative for gold. -Choice Broking

Sumeet Bagadia’s Desk:Buy NATURALGAS|26MAY26 in Commodity @ 270.8 SL 269 TGT 274.40

Sumeet Bagadia’s Desk:Sell SILVERMIC|30JUN26 in Commodity @ 253033 SL 255000 TGT 249099.00

Crude Oil Update Crude oil prices slid as Trump launched “Project Freedom” to help stranded ships exit Hormuz, amid Iran talks optimism, while OPEC+ approved a modest June output quota increase overall again. -Choice Broking

Bullion Update Bullion prices held firm as Trump’s Hormuz escort plan and progress in US-Iran talks raised hopes of diplomacy, while war-driven energy inflation kept interest rates higher for longer among investors globally. -Choice Broking

Dollar Index Update The Dollar Index held above 98 after last week’s drop, as traders watched for Japanese intervention, key US jobs data, and Donald Trump’s Hormuz plans and Iran talks. -Choice Broking

Rupee Update Indian rupee steadied near 94.9 per dollar after record lows, as elevated oil prices, Hormuz tensions, and tanker attack concerns kept markets cautious despite possible central bank intervention. -Choice Broking

Geopolitical Update US officials said the new Strait of Hormuz initiative may not include direct Navy escorts, with ships nearby to respond if Iran targets commercial vessels. -Choice Broking

*Crude Oil Update* Kuwait records zero monthly oil exports in April, a first since Gulf war -Choice Broking