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 Market Wrap-Up
MAJOR INDICES CURRENCY MARKET UPDATE
INDEX CLOSING CLOSING Weekly Change Current Previous Weekly Change (in
(As on25th Jan18) (As on 19th Dec 17) (in %) Currency Pair
Closing Closing %)
NIFTY 50 11,069.65 10,894.70 1.61% USDINR 63.590 63.830 -0.38%
NIFTY 100 11,459.05 11,315.75 1.27% GBPINR 90.110 88.414 1.92%
NIFTY 200 6,032.55 5,966.20 1.11% EURINR 78.9850 78.0100 1.25%
NIFTY 500 9,810.00 9,723.10 0.89% JPYINR 0.5849 0.5760 1.55%
INDIA VIX 17.51 13.98 25.25% EURUSD 1.2421 1.2222 1.63%

NIFTY BANK 27,445.65 26,909.50 1.99% GBPUSD 1.4170 1.3852 2.30%

NIFTY AUTO 11,507.75 11,677.55 -1.45% Dollar Index 88.89 90.37 -1.64%

NIFTY FIN SERVICE 11,232.35 11,073.25 1.44% COMMODITY MARKET UPDATE

NIFTY FMCG 27,716.50 27,517.10 0.72% Current Previous
Commodity Weekly Change (in %)
Closing Closing
NIFTY IT 13,117.85 12,633.85 3.83%
Gold COMEX 1352.10 1333.10 1.43%
NIFTY MEDIA 3,507.45 3,540.55 -0.93% Gold MCX 30361 29755 2.04%
NIFTY METAL 4,135.15 4,033.40 2.52% Crude Oil NYMEX 66.14 63.37 4.37%
NIFTY PHARMA 9,729.15 9,637.80 0.95% Crude Oil MCX 4190 4037 3.79%
NIFTY PSU BANK 3,757.70 3,710.70 1.27% Brent Oil NYMEX 70.52 68.61 2.78%
NIFTY PVT BANK 15,374.50 15,049.90 2.16% Copper MCX 451.85 450.45 0.31%
NIFTY REALTY 349.75 347.30 0.71% Natural Gas MCX 3.505 3.185 10.05%

2 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 Market At a Glance

NIFTY50 WEEKLY GAINERS

CURRENT PREVIOUS WEEKLY
SCRIP
CLOSING CLOSING CHANGE (in %)
Indiabulls
1393.9 1243.00 12.14%
Housing
Tech Mahindra 598.55 552.90 8.26%

ONGC 208.25 193.70 7.51%

TCS 3117.85 2935.00 6.23%

Yes Bank 362.45 349.35 3.75%

NIFTY50 WEEKLY LOSERS

CURRENT PREVIOUS WEEKLY
SCRIP
CLOSING CLOSING CHANGE (in %)

Bharti Airtel 452.60 497.90 -9.10%

Hindustan
384.10 416.20 -7.71%
Petroleum

Eicher Motors 26524.95 28009.00 -5.30%

Ambuja
263.15 275.65 -4.53%
Cements
Tata Motors 400.20 418.05 -4.27%

3 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 Economic Calendar
UPCOMING ECONOMIC EVENT CALENDER
Time Currency Event Forecast Previous
Monday, January 29, 2018
19:00 USD Core PCE Price Index(YoY)(Dec) 1.60% 1.50%
19:00 USD Core PCE Price Index(MoM)(Dec) 0.20% 0.10%
19:00 USD Personal Spending (MoM)(Dec) 0.40% 0.60%
Tuesday, January 30, 2018
20:30 USD CB Consumer Confidence(Jan) 123.00 122.10
Wednesday, January 31, 2018
6:30 CNY Non-Manufacturing PMI (Jan) - 55.00
6:30 CNY Manufacturing PMI (Jan) 51.60 51.60
18:45 USD ADP Nonfarm Employment Change (Jan) 180K 250K
20:15 USD Chicago PMI(Jan) 64.50 67.80
20:30 USD Pending Home Sales (MoM)(Dec) 0.30% 0.20%
Thursday, February 1, 2018
0.30 USD Fed Interest Rate Decision - -
7:15 CNY Caixin Manufacturing PMI(Jan) 50.60 51.50
15:00 GBP Manufacturing PMI (Jan) - 56.30
20:15 USD Manufacturing PMI (Jan) - 55.50
20:30 USD ISM Manufacturing Employment(Jan) 57.00 57.00%
20:30 USD ISM Manufacturing PMI(Jan) 59 59.70
Friday, February 2, 2018
15:00 GBP Construction PMI(Jan) 52.50 52.20
19:00 USD Average Hourly Earnings(MoM)(Jan) 0.30% 0.30%
19:00 USD Nonfarm Payrolls(Jan) 175k 148k

4 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 Weekly Pivots
NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
ADANIPORTS 508.90 485.65 462.40 449.20 439.15 425.95 415.90 392.65 369.40
AMBUJACEM 294.10 284.05 274.00 268.55 263.93 258.45 253.85 243.80 233.75
ASIANPAINT 1261.65 1227.25 1192.85 1173.45 1158.43 1139.00 1124.00 1089.60 1055.20
AUROPHARMA 723.70 698.05 672.40 656.15 646.75 630.50 621.10 595.45 569.80
AXISBANK 700.65 671.65 642.65 628.70 613.65 599.70 584.65 555.65 526.65
BAJAJ-AUTO 3542.70 3464.80 3386.90 3345.95 3308.98 3268.00 3231.05 3153.15 3075.25
BAJFINANCE 1881.10 1826.65 1772.20 1743.10 1717.75 1688.65 1663.30 1608.85 1554.40
BHARTIARTL 629.80 575.45 521.10 489.05 466.75 434.70 412.40 358.05 303.70
BOSCHLTD 21369.00 20815.15 20261.30 19908.70 19707.45 19354.85 19153.60 18599.75 18045.90
BPCL 531.25 513.75 496.25 488.50 478.75 471.00 461.25 443.75 426.25
CIPLA 709.25 678.55 647.85 634.00 617.15 603.30 586.45 555.75 525.05
COALINDIA 347.80 330.35 312.90 305.70 295.45 288.25 278.00 260.55 243.10
DRREDDY 3008.50 2846.70 2684.90 2593.00 2523.08 2431.15 2361.25 2199.45 2037.65
EICHERMOT 31732.05 30110.65 28489.25 27527.65 26867.85 25906.25 25246.45 23625.05 22003.65
GAIL 634.85 582.95 531.05 511.20 479.13 459.25 427.20 375.30 323.40
HCLTECH 1226.20 1154.05 1081.90 1050.95 1009.75 978.80 937.60 865.45 793.30
Continued .......

5 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 Weekly Pivots

NIFTY50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
HDFC 2055.60 2003.30 1951.00 1927.20 1898.68 1874.85 1846.35 1794.05 1741.75
HDFCBANK 2074.20 2037.50 2000.80 1984.90 1964.10 1948.20 1927.40 1890.70 1854.00

HEROMOTOCO 3899.20 3800.30 3701.40 3643.95 3602.47 3545.00 3503.55 3404.65 3305.75

HINDALCO 305.95 291.35 276.75 268.20 262.13 253.55 247.50 232.90 218.30
HINDPETRO 461.35 437.80 414.25 398.95 390.68 375.35 367.10 343.55 320.00
HINDUNILVR 1489.95 1447.00 1404.05 1387.15 1361.10 1344.20 1318.15 1275.20 1232.25
IBULHSGFIN 1575.00 1511.75 1448.50 1423.95 1385.23 1360.65 1321.95 1258.70 1195.45
ICICIBANK 401.50 387.15 372.80 366.40 358.42 352.00 344.05 329.70 315.35
INDUSINDBK 1892.70 1833.90 1775.10 1752.55 1716.27 1693.70 1657.45 1598.65 1539.85
INFRATEL 376.35 365.40 354.45 349.10 343.47 338.10 332.50 321.55 310.60
INFY 1381.40 1315.35 1249.30 1211.50 1183.25 1145.45 1117.20 1051.15 985.10
IOC 414.30 406.95 399.60 396.80 392.22 389.40 384.85 377.50 370.15
ITC 308.10 298.45 288.80 284.75 279.15 275.10 269.50 259.85 250.20
KOTAKBANK 1223.90 1176.00 1128.10 1110.25 1080.17 1062.30 1032.25 984.35 936.45
LT 1523.25 1486.00 1448.75 1433.20 1411.50 1395.95 1374.25 1337.00 1299.75
LUPIN 1080.45 1036.55 992.65 971.40 948.73 927.45 904.80 860.90 817.00
Continued .......

6 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 Weekly Pivots
NIFTY50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
M&M 835.10 810.45 785.80 773.90 761.12 749.20 736.45 711.80 687.15
MARUTI 10166.50 9896.55 9626.60 9463.25 9356.62 9193.25 9086.65 8816.70 8546.75
NTPC 187.70 182.85 178.00 174.85 173.12 169.95 168.25 163.40 158.55
ONGC 244.35 231.90 219.45 213.60 207.00 201.15 194.55 182.10 169.65
POWERGRID 206.40 202.60 198.80 196.85 195.00 193.05 191.20 187.40 183.60
RELIANCE 1074.75 1039.95 1005.15 984.55 970.35 949.75 935.55 900.75 865.95
SBIN 396.20 369.80 343.40 327.65 317.00 301.25 290.60 264.20 237.80
SUNPHARMA 648.45 627.05 605.65 593.35 584.22 571.90 562.80 541.40 520.00
TATAMOTORS 481.30 456.50 431.70 415.80 406.90 391.00 382.10 357.30 332.50
TATASTEEL 874.60 839.50 804.40 786.60 769.28 751.45 734.15 699.05 663.95
TCS 3691.85 3513.80 3335.75 3234.40 3157.68 3056.30 2979.60 2801.55 2623.50
TECHM 739.80 690.55 641.30 619.90 592.05 570.65 542.80 493.55 444.30
ULTRACEMCO 4743.25 4611.30 4479.35 4419.70 4347.38 4287.70 4215.40 4083.45 3951.50
UPL 986.90 920.00 853.10 810.80 786.20 743.90 719.30 652.40 585.50
VEDL 413.70 389.75 365.80 355.60 341.85 331.65 317.90 293.95 270.00
WIPRO 359.35 344.70 330.05 322.05 315.38 307.35 300.70 286.05 271.40
YESBANK 401.95 387.95 373.95 367.60 359.93 353.55 345.90 331.90 317.90
ZEEL 663.60 642.35 621.10 609.70 599.83 588.40 578.55 557.30 536.05

7 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 Open Interest & Price Analysis
LONG BUILD-UP SHORT COVERING NIFTY OPTIONS OPEN INTEREST ANALYSIS
Change in OI Change in Price Change in OI Change in Price
Scrip Scrip
(in %) (in%) (in %) (in%)
NIITTECH 46.48% 23.82% BERGEPAINT -23.29% 2.19%

OFSS 35.90% 3.05% JUBLFOOD -19.19% 5.93%

GAIL 32.17% 4.68% ESCORTS -16.91% 8.22%
ICICIBANK 24.21% 0.70% JUSTDIAL -16.03% 4.06%
HCLTECH 23.76% 4.54% BANKINDIA -12.87% 2.41%

SHORT BUILD-UP LONG UNWINDING

Change in OI Change in Price Change in OI Change in Price
Scrip Scrip
(in %) (in%) (in %) (in%)

HINDZINC 45.96% -0.58% DHFL -12.88% -3.11%

PIDILITIND 34.67% -1.65% CONCOR -12.17% -2.65%

SRF 31.58% -3.40% VOLTAS -11.46% -0.60%

Analysis : As per the analysis of above chart.
BOSCHLTD 30.75% -2.34% WIPRO -8.33% -3.55% Major Resistance Level: At 11000 followed by
11500.
MCDOWELL-N 30.45% -9.23% APOLLOHOSP -6.78% -0.96% Major Support Levels:- At 10500

8 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 Nifty Analysis

WEEKLY PIVOTS
Fundamental Outlook

Last week, equity benchmark index Nifty Feb futures consolidated on higher levels with the positive bias for the PARTICULAR LEVELS

entire week and made a new life time high of 10918. Fundamentally Nifty is still looking bullish due to continuous
R4 11718.75
positive trends from FII & DII and on the expectation of positive outcomes of economic reforms taken by centre
government last year.
R3 11490.80

Nifty traded with a PE Ratio range of 27.61 – 27.81 during the week and sustaining in this range from the last
R2 11262.85
couple of months. FII & DII activity witnessed two different trends; DII witnessed positive trend for the entire week
whereas FII witnessed negative trend but the overall scenario remained positive to provide support to benchmark
R1 11162.75
index to sustain on the higher levels.

PP 11034.9
On Macroeconomic front; there were no major data released last week and for this week, economic data like GDP
Annual, Federal Fiscal Deficit, Infrastructure Output, M3 Money Supply, Nikkei Markit Manufacturing PMI coupled
P1 10934.80
with the FII & DII activity will provide further direction to the market.

P2 10806.95
Technical Outlook

Last week Nifty Feb Futures started the week on positive note and continued the same for the entire week. It P3 10579.00
made a new life time high of 11135 during the week and closed 11062.60 with the overall gain of 1.30% on
weekly basis. It broke the major psychological resistance level of 11000 during the week and sustaining above P4 10351.05
the same.
Continued …....
9 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 Nifty Analysis
Technical Outlook WEEKLY STRATEGY
PERTICULAR TARGET
Nifty Futures is making new life time consecutively from last 3 week and almost witnessed 5.15% gain in last 2
month. Technically, the major technical indicator likes 20Days EMA, 50Days EMA, 100Days EMA, RSI, Stochastic Action Buy
etc. indicating bullish trend for short term in nifty and for this week, we can further expect upside movement in
it. Entry Price Above 11060

Target 11200/ 11250

Stop Loss 10965

TECHNICAL INDICATOR
ANALYSIS
CURRENT
INDICATOR
TREND
20 Days EMA POSITIVE
50 Days EMA POSITIVE
200 Days EMA POSITIVE
RSI POSITIVE
MACD POSITIVE
STOCHASTIC POSITIVE
For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs.11060 it can test the Continued …....
level of Rs.11200/ 11250 during the week. Trades can make buy position in it by maintaining a Stop Loss of
Rs.10965.

10 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 Bank Nifty Analysis
Technical Outlook WEEKLY STRATEGY
Last week Bank Nifty Futures opened at 26890 and traded positive for the entire week. It made a high of 27512
PERTICULAR TARGET
during the week and closed at 27440 with the overall gain of 1.64% on weekly basis. Currently it’s sustaining
above the major psychological support level of Rs.27000 with the positive RSI and with the support of 200Days Action Buy
& 50Days SMA. Technically for this week, we can expect further upside movement in it above the level of
Above
27640. Entry Price
27640
27850/
Target
27950
Stop Loss 27499

WEEKLY PIVOTS
PARTICULAR LEVELS
R4 29702.60
R3 28895.25
R2 28087.90
R1 27731.10
PP 27280.55
P1 26923.75
For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs.27640 it can test the P2 26473.20
level of Rs.27850/ 27950 during the week. Trades can make buy position in it by maintaining a Stop Loss of P3 25665.85
Rs.27499. P4 24858.50

11 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 SUVEN ( Call of the Week Cash)
Technical Outlook WEEKLY STRATEGY
Last week, SUVEN cash traded positive for the entire week after taking support from the 200Days SMA and PERTICULAR DETAILS
trend line. It made a high of 218 during the week and closed at 215 with the overall gain of 8.36% on weekly ACTION Buy
basis. In short term, we can expect good upside movement in it as its going to break its long time consolidation ENTRY PRICE Above 235
with the positive RSI & continuously sustaining taking support from the 200Days SMS. TARGET 245

STOP LOSS 225

WEEKLY PIVOTS
PARTICULAR LEVELS
R4 272.75
R3 251.85
R2 230.95
R1 223.00
PP 210.05

P1 202.10
P2 189.15
For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs.234 it can test the
level of Rs.245 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.225. P3 168.25
P4 147.35

12 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 EMKAY ( Call of the Week Cash)
Technical Outlook WEEKLY STRATEGY
EMKAY is trading in tight range from last 1 and half month and sustaining above the major psychological support PARTICULAR TARGET
level of Rs.200. Last week it made a high of 232 and closed at 226.15 with the overall gain of almost 5% on ACTION Buy
weekly basis. Technically we can expect further upside movement in it as its going to break its long time
ENTRY PRICE Above 235
consolidation with the positive RSI & continuously sustaining taking support from the 200Days SMS.
TARGET 245
STOP LOSS 226

WEEKLY PIVOTS
PARTICULAR LEVELS
R4 286.05
R3 265.05
R2 244.05
R1 235.10
PP 223.05
P1 214.10
P2 202.05
For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs.235 it can test the P3 181.05
level of Rs.245 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.226. P4 160.05

13 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 ZEEL ( Call of the Week Future )
Technical Outlook WEEKLY STRATEGY
ZEEL Futures sustaining near to its lifetime high of 618.55 from last 2 weeks & trading with the positive bias. Last PARTICULAR TARGET
week it made a high of 614.30 during the week and closed at 596.25 with the marginal loss of 0.83% on weekly ACTION Buy
basis. Technically it’s forming Symmetrical Triangle on the charts with the positive 50Days SMS, 200Days SMA &
ENTRY PRICE Above 610
RSI and for this week, we can expect buying in it from the lower levels after the breakout of Symmetrical
Triangle. TARGET
620

STOP LOSS 604

WEEKLY PIVOTS
PARTICULAR LEVELS
R4 676.05
R3 651.65
R2 627.25
R1 613.10
PP 602.85
P1 588.70
P2 578.45
For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs.610 it can test the
P3 554.05
level of Rs.620 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.604
P4 529.65

14 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
 HCLTECH ( Call of the Week Future)
Technical Outlook WEEKLY STRATEGY
Last week, HCLTECL Futures made a high of 1036.75 and closed at 1009.05 with the overall gain of 5.17% on PARTICULAR TARGET
weekly basis. It almost gained 21% in last 2 month and currently sustaining on higher levels with the
ACTION Buy
overbought RSI. It’s also sustaining above the import technical indicators like 200Days & 50Days SMA and
technically for this week, we can further expect upside movement in it above the level of 1025. ENTRY PRICE Above
1025
TARGET 1050

STOP LOSS 1018

WEEKLY PIVOTS
PARTICULAR LEVELS
R4 1264.70
R3 1175.75
R2 1086.80
R1 1045.90
PP 997.85
P1 956.95
P2 908.95
For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs.1025 it can test the
P3 819.90
level of Rs.1050 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.1018.
P4 731.70
15 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
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अस्वीकयण की स्वीकृनत।

DISCLOSURE (प्रकटीकयण) :

High Brow Market Research Investment Advisor Pvt. Ltd. or its associates does not do business with companies covered in research report nor is associated in any manner with any issuer of products/ securities, this ensures that there is no actual
or potential conflicts of interest. To ensure compliance with the regulatory body, we have resolved that the company and all its representatives will not make any trades in the market.
हाई ब्रो भाकेट अनुसध
ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी कंऩननमां अनुसध ं ान रयऩोटा भें शालभर कंऩननमों के साथ कायोफाय नहीं कयती हैं औय न ही ककसी बी तयह के उत्ऩादों / प्रनतबनू तमों के जायीकताा के साथ जड
ु ी हैं, जो मह सनु नक्श्चत कयता है कक टहतों
के लरए कोई वास्तववक मा संबाववत संघषा नहीं है | ननमाभक ननकाम के अनऩ ु ारन को सनु नक्श्चत कयने के लरए हभने मह तम ककमा है कक कंऩनी औय उसके कोई बी प्रनतननधध फाज़ाय भें ट्रे ड नहीं कयें गे।
Clients are advised to consider information provided in the report as opinion only & make investment decision of their own. Clients are also advised to read & understand terms & conditions of services published on website. No litigations have
been filed against the company since the incorporation of the company by regulatory body.
ग्राहकों को मह सराह दी जाती है कक वे रयऩोटा भें दी गई जानकायी को केवर याम के रूऩ भें दे खें औय ननवेश के लरए स्वमं पैसरा कयें | ग्राहकों को वेफसाइट ऩय प्रकालशत सेवाओं के ननमभों औय शतों को ऩढ़ने औय सभझने की बी सराह दी जाती है | कंऩनी के ननगभन के फाद
ननमाभक ननकाम द्वायाकंऩनी के खखराप कोई भक
ु दभा (माधचका) दामय नहीं ककमा गमा है ।

16 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018
DISCLOSURE APPENDIX (प्रकटीकयण ऩरयलशष्ट ) :
The reports are prepared by analysts who are employed by High Brow Market Research Investment Advisor Pvt. Ltd. All the views expressed in this re- port herein accurately reflects personal views about the subject company or companies & their
securities and no part of compensation was, is or will be directly or indirectly related to the specific recommendations or views contained in this research report.

रयऩोटा ववश्रेषकों द्वाया तैमाय की गमी है जो द्वाया हाई ब्रो भाकेट अनुसध
ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड द्वाया ननमुवत हैं | इस रयऩोटा भें व्मवत सबी ववचाय कंऩनी के फाये भें व्मक्वतगत ववचायों को दशााता है औय कंऩननमों औय उनकी
प्रनतबनू तमां औय ऺनतऩनू ता (भआ
ु वजे) का कोई टहस्सा, मा इस शोध रयऩोटा भें ननटहत ववशेष सझ
ु ावों मा ववचायों से प्रत्मऺ मा अप्रत्मऺ रूऩ से संफधं धत नहीं होगा।
DISCLOSURE IN TERMS OF CONFLICT OF INTEREST: टहतों के संघषा के भाभरे भें प्रकटीकयण :
(a) High Brow Market Research Pvt. Ltd. or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(अ) हाई ब्रो भार्केट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटे ड मा उसर्के सहमोगी मा उनर्के कर्कसी बी तत्र्कार रयश्तेदाय र्की ववषम र्कंऩनी भें र्कोई ववत्तीम रुचि नह ं है औय न ह इस तयह र्की ववत्तीम हहत र्की प्रर्कृनत है|
(b) High Brow Market Research Pvt. Ltd. or its associates or relatives, have no actual/beneficial ownership of one percent or more in the securities of the subject company,

(फ) हाई ब्रो भार्केट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटे ड मा उसर्के सहमोगी मा उनर्के कर्कसी बी तत्र्कार रयश्तेदाय र्की ववषम र्कंऩनी र्की प्रनतबूनतमों भें एर्क प्रनतशत मा उससे अचधर्क र्के वास्तववर्क / पामदे भंद स्वालभत्व नह ं हैं |
(c) High Brow Market Research Pvt. Ltd. or its associate has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
(स) हाई ब्रो भार्केट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटे ड मा उसर्के सहमोचगमों र्को अनुसंधान रयऩोटट र्के प्रर्काशन र्के सभम मा सावटजननर्क रूऩ से उऩस्स्थत होने र्के सभम र्कोई अन्म बौनतर्क संघषट नह ं है|

DISCLOSURE IN TERMS OF COMPENSATION: ऺनतऩूनता के संदबा भें प्रकटीकयण:

High Brow Market Research Investment Advisor Pvt. Ltd. policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst's area of coverage.
Analyst compensation: Analysts are salary based permanent employees of High Brow Market Research Pvt. Ltd.

हाई ब्रो भाकेट अनुसध

ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड की ऩॉलरसी अऩने ववश्रेषकों , ऩेशेवयों को ववश्रेषक के ऺेत्र भें ककसी बी कंऩनी की प्रनतबनू तमों के स्वाभी से ववश्रेषकों को रयऩोटा कयने से योकती है ।
ववश्रेषक ऺनतऩनू ता : ववश्रेषक हाई ब्रो भाकेट अनुसध
ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड के वेतन आधारयत स्थामी कभाचायी है |

DISCLOSURE IN TERMS OF PUBLIC APPEARANCE: सावाजननक प्रकटन के भाभरे भें प्रकटीकयण :

(a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from the subject company in the past twelve months;

(अ) हाई ब्रो भाकेट अनुसध

ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने वऩिरे 12 भहीनों भें ववषम कंऩनी से कोई भआ
ु वजा प्राप्त नहीं ककमा है |

(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report.
(ब) अनुसंधान रयऩोटट र्के ववतयण र्की नतचथ से ऩूवट फायह भह नों र्के दौयान ववषम र्कंऩनी अफ मा र्कबी बी ग्राहर्क नह ं यह है ।

(c) High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or employee of the subject company;
(स) हाई ब्रो भार्केट अनस
ु ंधान ननवेश सराहर्काय प्राइवेट लरलभटे ड मा उसर्के सहमोगीमों ने ववषम र्कंऩनी र्के अचधर्काय , ननदे शर्क मा र्कभटिाय र्के रूऩ भें र्कबी बी र्काभ

17 Copyright © 2017 Ways2Capital. All rights reserved Monday, January 29, 2018