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 Market Wrap–Up

MAJOR INDICES CURRENCY MARKET UPDATE

CLOSING WEEKLY CURRENT PREVIOUS WEEKLY
INDEX WEEKLY CHANGES CURRENCY PAIR
AS ON 25th May 18 % CHANGE CLOSING CLOSING % CHANGE
Nifty 10605.15 8.75 0.08% USDINR 67.7250 67.9850 -0.38%
Nifty 100 10934 25.95 0.24% GBPINR 90.1430 91.5870 -1.58%
Nifty 200 5708.85 7.95 0.14% EURINR 78.8920 80.0450 -1.44%
Nifty 500 9215.55 6.35 0.07% JPYINR 61.9375 61.3375 0.98%
Nifty VIX 12.65 -1.51 -10.64% EURUSD 1.1650 1.1771 -1.03%

Nifty Bank 26273.55 397.95 1.54% GBPUSD 1.3296 1.3470 -1.29%

Nifty Auto 10883.00 -79.75 -0.73% Dollar Index 94.21 93.58 0.67%

Nifty Finance 10885.8 102.60 0.95% COMMODITY MARKET UPDATE

Nifty FMCG 28595.80 -256.90 -0.89% CURRENT PREVIOUS WEEKLY
COMMODITY
CLOSING CLOSING % CHANGE
Nifty IT 13762.35 303.20 2.25%
Gold COMEX 1300.19 1288.26 0.93%
Nifty Media 3228.10 11.05 0.34%
Gold MCX 31189 31091 0.32%
Nifty Metal 3567.4 -23.25 -0.65% Crude Oil NYMEX 67.64 71.86 -5.87%
Nifty Pharma 8297.25 85.40 1.04% Crude Oil MCX 4597 4855 -5.31%
Nifty PSU Banks 2950 293.25 11.04% Brent Oil NYMEX 76.33 78.98 -3.36%
Nifty PVT Bank 14956.70 92.20 0.62% Copper MCX 461.80 462.15 -0.08%
Nifty Realty 295.5 -7.25 -2.39% Natural Gas NYMEX 2.980 2.847 4.67%

2 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 Market at a Glance

WEEKLY GAINERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE HIGH

SBI 267.00 11.62% 351.50

BAJAJ FIN-
6061.20 5.83% 6085.00
SERVE
HINDALCO 245.65 5.77% 283.95
BHARTI
378.00 4.43% 565.00
AIRTEL
INFOSYS 1228.80 3.81% 1248.00

WEEKLY LOSERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE LOW

VEDANTA 251.90 -6.91% 223.40

HPCL 295.10 -5.45% 272.30

ONGC 175.35 -5.24% 155.30

ULTRATECH
3676.95 -4.72% 3632.25
CEM

TATASTEEL 567.20 -4.11% 454.52

3 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 Economic Calendar
ECONOMIC EVENTS CALENDER
TIME CURRENY EVENT FORECAST PREVIOUS
Monday, May 28, 2018
- GBP United Kingdom - Spring Holiday
- USD United States - Memorial Day Holiday
Tuesday, May 29, 2018
18:30 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Mar) 6.40% 6.80%
19:30 USD CB Consumer Confidence (May) 128 128.7
Wednesday, May 30, 2018
5:20 JPY Retail Sales (YoY) (Apr) 1.00% 1.00%
17:45 USD ADP Nonfarm Employment Change (May) 187K 204K
18:00 USD GDP (QoQ) (Q1) 2.30% 2.30%
Thursday, May 31, 2018
5:20 JPY Industrial Production (MoM) (Apr) 1.20% 1.40%
6:30 CNY Manufacturing PMI (May) 51.3 51.4
17:30 INR GDP Quarterly (YoY) (Q4) 7.30% 7.20%
18:00 USD Initial Jobless Claims 225K 234K
19:15 USD Chicago PMI (May) 58 57.6
20:30 USD Crude Oil Inventories - 5.778M
Friday, June 1, 2018
5:20 JPY Capital Spending (YoY) (Q1) - 4.30%
7:15 CNY Caixin Manufacturing PMI (May) 51 51.1
14:00 GBP Manufacturing PMI (May) 53.6 53.9
18:00 USD Nonfarm Payrolls (May) 185K 164K
18:00 USD Unemployment Rate (May) 3.90% 3.90%
19:15 USD Manufacturing PMI (May) - 56.6
19:30 USD ISM Manufacturing PMI (May) 58 57.3
4 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018
 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

ADANIPORTS 462.55 434.70 406.85 393.30 378.98 365.40 351.10 323.25 295.40
ASIANPAINT 1443.00 1391.30 1339.60 1312.80 1287.90 1261.10 1236.20 1184.50 1132.80
AXISBANK 607.00 582.90 558.80 550.00 534.70 525.90 510.60 486.50 462.40
BAJAJ-AUTO 3150.35 3021.70 2893.05 2825.30 2764.38 2696.60 2635.70 2507.05 2378.40
BAJAJFINSV 7363.85 6887.35 6410.85 6247.90 5934.35 5771.40 5457.85 4981.35 4504.85
BAJFINANCE 2456.50 2344.80 2233.10 2176.55 2121.37 2064.80 2009.65 1897.95 1786.25
BHARTIARTL 454.95 426.55 398.15 387.90 369.73 359.45 341.30 312.90 284.50
BPCL 503.15 462.25 421.35 401.35 380.43 360.40 339.50 298.60 257.70
CIPLA 709.00 651.30 593.60 564.60 535.88 506.85 478.15 420.45 362.75
COALINDIA 331.30 312.60 293.90 285.80 275.20 267.10 256.50 237.80 219.10
DRREDDY 2410.65 2261.65 2112.65 2040.25 1963.62 1891.20 1814.60 1665.60 1516.60
EICHERMOT 33073.85 32029.50 30985.15 30592.60 29940.78 29548.20 28896.40 27852.05 26807.70
GAIL 408.15 377.55 346.95 333.90 316.32 303.25 285.70 255.10 224.50
GRASIM 1259.85 1184.00 1108.15 1069.10 1032.30 993.25 956.45 880.60 804.75
HCLTECH 1019.50 982.65 945.80 930.90 908.95 894.05 872.10 835.25 798.40
HDFC 2059.20 1979.25 1899.30 1858.65 1819.33 1778.65 1739.35 1659.40 1579.45

Continued .......

5 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

HDFCBANK 2189.10 2124.45 2059.80 2033.90 1995.12 1969.20 1930.45 1865.80 1801.15
HEROMOTOCO 3918.60 3785.95 3653.30 3595.35 3520.63 3462.65 3387.95 3255.30 3122.65
HINDALCO 307.60 284.70 261.80 253.45 238.90 230.55 216.00 193.10 170.20
HINDPETRO 429.40 384.70 340.00 318.25 295.27 273.50 250.55 205.85 161.15
HINDUNILVR 1791.55 1722.20 1652.85 1616.95 1583.48 1547.55 1514.10 1444.75 1375.40
IBULHSGFIN 1433.00 1336.00 1239.00 1202.95 1141.97 1105.90 1044.95 947.95 850.95
ICICIBANK 337.00 322.90 308.80 302.50 294.67 288.35 280.55 266.45 252.35
INDUSINDBK 2232.00 2121.00 2010.00 1962.00 1899.00 1851.00 1788.00 1677.00 1566.00
INFRATEL 351.35 339.85 328.35 321.70 316.85 310.20 305.35 293.85 282.35
INFY 1452.05 1373.40 1294.75 1262.15 1216.07 1183.45 1137.40 1058.75 980.10
IOC 208.35 192.50 176.65 170.45 160.77 154.55 144.90 129.05 113.20
ITC 320.95 305.70 290.45 281.65 275.18 266.35 259.90 244.65 229.40
KOTAKBANK 1475.85 1411.00 1346.15 1320.60 1281.28 1255.70 1216.40 1151.55 1086.70
LT 1450.40 1411.40 1372.40 1355.80 1333.40 1316.80 1294.40 1255.40 1216.40
LUPIN 814.15 789.45 764.75 754.90 740.03 730.15 715.30 690.60 665.90
M&M 990.50 941.80 893.10 876.55 844.40 827.85 795.70 747.00 698.30

Continued .......

6 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 Weekly Pivots
NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
MARUTI 9461.35 9130.45 8799.55 8681.80 8468.63 8350.85 8137.70 7806.80 7475.90
NTPC 181.50 176.10 170.70 167.85 165.27 162.40 159.85 154.45 149.05
ONGC 273.50 240.00 206.50 190.85 172.98 157.30 139.45 105.95 72.45
POWERGRID 226.85 221.90 216.95 214.45 211.97 209.45 207.00 202.05 197.10
RELIANCE 1001.95 975.40 948.85 935.45 922.28 908.85 895.70 869.15 842.60
SBIN 347.40 317.95 288.50 277.75 259.02 248.25 229.55 200.10 170.65
SUNPHARMA 562.00 527.30 492.60 480.80 457.88 446.05 423.15 388.45 353.75
TATAMOTORS 397.90 364.75 331.60 312.80 298.43 279.60 265.25 232.10 198.95
TATASTEEL 760.90 696.70 632.50 600.00 568.27 535.75 504.05 439.85 375.65
TCS 4163.30 3969.50 3775.70 3682.80 3581.90 3489.00 3388.10 3194.30 3000.50
TECHM 830.70 787.00 743.30 724.20 699.58 680.45 655.85 612.15 568.45
TITAN 1045.55 1005.10 964.65 944.35 924.18 903.85 883.70 843.25 802.80
ULTRACEMCO 4944.70 4557.45 4170.20 3934.10 3782.92 3546.80 3395.65 3008.40 2621.15
UPL 812.00 772.85 733.70 716.35 694.55 677.20 655.40 616.25 577.10
VEDL 354.55 321.45 288.35 270.30 255.22 237.15 222.10 189.00 155.90
WIPRO 287.90 280.40 272.90 268.85 265.40 261.35 257.90 250.40 242.90
YESBANK 409.55 385.95 362.35 351.85 338.72 328.20 315.10 291.50 267.90
ZEEL 630.25 606.90 583.55 573.80 560.18 550.40 536.80 513.45 490.10

7 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 Open Interest & price Analysis

LONG BUILD-UP SHORT COVERING NIFTY OPTIONS OPEN INTEREST ANALYSIS

CHANGE IN PRICE CHANGE CHANGE IN PRICE CHANGE

SCRIP SCRIP
OI (In %) (In %) OI (In %) (In %)

BERGEPAINT 56.08% 6.28% NIITTECH -23.76% 8.03%

COLPAL 47.58% 2.47% STAR -18.69% 7.97%

PIDILITIND 43.84% 5.30% NHPC -15.16% 3.82%

PAGEIND 42.06% 6.39% SRTRANSFIN -14.86% 6.14%

KPIT 21.84% 3.84% HAVELLS -13.90% 3.79%

SHORT BUILD-UP LONG UNWINDING

CHANGE IN PRICE CHANGE CHANGE IN PRICE CHANGE
SCRIP SCRIP
OI (In %) (In %) OI (In %) (In %)

ACC 28.16% -3.65% RCOM -14.03% -5.86%

Analysis : As per the analysis of above
IGL 24.75% -3.17% BEML -12.56% -7.08% chart.
Major Resistance Level: 10800
ADANIPOWER 20.83% -4.96% SRF -11.63% -2.61% Major Support Levels: 10500

ONGC 19.18% -5.39% - - -

CHOLAFIN 19.01% -3.23% - - -

8 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 Nifty Analysis

NIFTY WEEKLY PIVOTS

Fundamental Outlook
PARTICULAR LEVEL
During the last week, Equity Index had a roller-coaster ride, which kept lot of traders and investors on their toes.
R4 11181.10
First half of the week looked very gloomy as we saw index sliding below the important psychological level of 10500
which led by sell off in all the major indices in the world and continues rising price of crude oil. But as weekend was R3 10970.85
near a good positive rally was seen in our market in last 2 trading session which again put index above its important
R2 10760.60
support levels of 10600 which also could be attributed to the sharp fall in crude oil prices in last couple of the days
of the week.
R1 10682.90
On the Economic front USD/INR shows some relief as first time in last 5 weeks Indian Rupee closed on positive note
with respect to US Dollar. Nifty P/E ratio was in the range of 26.10 to 26.24 for the past week. As far as the FII were PP 10550.35

remain in bearish in their approach while DII were main buyers in the last week.
S1 10472.65

Technical Outlook S2 10340.10

Nifty May Future closed the week with marginal WoW gain of 11 points, and closed marginally above its crucial re- S3 10129.85

sistance level of 10600. The index recovered from the lows of 10,409 with broad-based positive momentum across
S4 9919.60
sectors and the stocks in the last two days of the week.
. Continued …....

9 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 Nifty Analysis

The markets will see a consolidation in the range of 10,500 to 10,800 levels over the next week. If we observe WEEKLY STRATEGY
the Nifty options chain, most open positions are seen at 10800 calls while 10600 put option shows the most
PARTICULAR DETAILS
open positions for put option. If it manages to sustain above the levels of 10600 than it can move further upside
Action BUY
and can test 10800 levels. There could be volatility with respect to rollover movements in individual stocks.
Entry Price ABOVE 10640

. Target 10795

Stop Loss 10498

TECHNICAL INDICATOR
ANALYSIS
CURRENT
INDICATOR
TREND
20 Days EMA POSITIVE

50 Days EMA POSITIVE

200 Days EMA POSITIVE

For this week, traders can adopt buy on lower level strategy in it and above the level of 10640. It can test the RSI POSITIVE

level of Rs. 10795 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 10498. MACD POSITIVE

STOCHASTIC POSITIVE

Continued …....

10 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 Bank Nifty Analysis
BANKNIFTY May Futures started the last week on negative note and continued its bearish run till Wednesday but WEEKLY STRATEGY
in last couple of days was very cheerful for index as it has recovered all its previous three days loss and gave clos- PARTICULAR DETAILS
ing on positive note with 362 points gain on weekly basis. It has crossed its major resistance levels of 26000 on Action BUY
daily charts and if it manages to trade above these levels then further buying can be seen in it. Major resistance
Entry Price BELOW 26300
is placed at 26600 & 26800 levels while support is placed at 26100 & 25800 levels.
Target 26600

Stop Loss 26095

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 28183.95
R3 27480.55
R2 26777.15
R1 26525.35
PP 26073.75
S1 25821.95
S2 25370.35
For this week, traders can adopt buy on lower level strategy in it and above the level of 26300, it can test the
S3 24666.95
level of Rs. 26600 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 26095.
S4 23963.55

11 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 SBILIFE CASH ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
SBILIFE is looking bullish on long term charts and in short term, stock was in some correction phase. Last week PARTICULAR DETAILS
stock started on negative note but from lower levels, we saw good buying in it. On daily chart stock has given ACTION BUY
breakout of falling wedge price pattern. On intraday chart stock has showed good positive movement and if it ENTRY PRICE Above 688.00
manages to sustain above 680.00 level, then upside movement can be seen in it
TARGET 720.00

STOP LOSS 660.00

WEEKLY PIVOTS
PARTICULAR LEVEL
R4 858.30

R3 798.60

R2 738.90

R1 711.40

PP 679.20

S1 651.70

S2 619.50
For this week, traders can adopt buy on lower level strategy in it and above the level of 688.00 it can test the
S3 559.80
level of Rs. 720 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 660
S4 500.10

12 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 VIPIND CASH ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
VIPIND is in overall bullish trend and form last couple of weeks, stock was in some consolidation phase. Last
PARTICULAR DETAILS
week stock started on positive note and traded with positive bias throughout the week. Stock has crossed its
ACTION SELL
major resistance levels of 420.00 on daily chart and sustaining on higher levels. On intraday chart, stock has
showed a good positive move after giving the breakout of its important resistance levels of 420 and for this ENTRY PRICE Below 1915.00

week, we can expect further upside movement in it. TARGET 1965.00

STOP LOSS 1895.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 595.10

R3 532.20

R2 469.30

R1 447.70

PP 406.40

S1 384.80

S2 343.50
For this week, traders can adopt buy on lower level strategy in it and above the level of 430.00 it can test the S3 280.60
level of Rs. 450.00 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 415 S4 217.70

13 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 KOTAK BANK FUTURES ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Last week KOTAKBANK May Futures started the week on negative note and made low of Rs.1243, but in the PARTICULAR DETAILS

later part of the week, all of its earlier losses were erased and it closed at 1295.25 with the marginal gain of Action BUY

0.30% on weekly basis. It broke major resistance level of 1300 during the week but was unable to close above Entry Price Above 290.00
the same. Technically it’s consolidating on higher levels with the positive bias and RSI and for this week, we can
Target 297.00
expect further upside movement in it.
Stop Loss 286.00

WEEKLY PIVOTS
PARTICULAR LEVEL
R4 2182.45

R3 2086.45

R2 1990.45

R1 1950.95

PP 1894.45

S1 1854.95

S2 1798.45
For this week, traders can adopt buy on lower level strategy in it and above the level of Rs.1305 it can test the
S3 1702.45
level of Rs.1325 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.1295
S4 1606.45

14 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 INDUSIND BANK FUTURES ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Last week INDUSINDBK May Futures started the week in negative note and made low of 1837.90 in the initial
PERTICULAR DETAILS
part of the week. In the later part of the week, it moved in positive trend and broke the major resistance level
ACTION BUY
of Rs.1900 and give closing above this level. Technically it sustaining above major resistance level of 1900 with
the positive RSI and for this week, we can expect further upside movement in it. ENTRY PRICE Above 1305.00

TARGET 1325.00

STOP LOSS 1295.00

WEEKLY PIVOTS
PARTICULAR LEVEL
R4 1467.10

R3 1405.10
R2 1343.10

R1 1319.20

PP 1281.10

S1 1257.20

S2 1219.10
For this week, traders can adopt buy on lower level strategy in it and above the level of Rs.1915 it can test the
S3 1157.10
level of Rs.1965 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.1895
S4 1095.10

15 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018

 Disclaimer

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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 अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी कंऩननमां अनुसंधान रयऩोटा भें शालभर कंऩननमों के साथ कायोफाय नहीं कयती हैं औय न ही ककसी बी तयह के उत्ऩादों / प्रनतबूनतमों के जायीकताा के साथ जुडी हैं, जो मह सुननक्श्चत कयता है

कक टहतों के लरए कोई वास्तववक मा संबाववत संघषा नहीं है | ननमाभक ननकाम के अनुऩारन को सुननक्श्चत 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.

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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 भुकदभा (माधचका) दामय नहीं ककमा गमा है।

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 अनुसंधान 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 प्रनतबूनतमां औय

ऺनतऩूनता (भुआवजे) का कोई टहस्सा, मा इस शोध रयऩोटा भें ननटहत ववशेष सुझावों 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कंऩनी भें कोई ववत्तीम रुधच नहीं है औय न ही इस तयह की ववत्तीम टहत की प्रकृनत है|
(a) 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कंऩनी की प्रनतबूनतमों भें एक प्रनतशत मा उससे अधधक के वास्तववक / पामदे भंद स्वालभत्व नहीं हैं |
(a) 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोधगमों को अनुसंधान रयऩोटा के प्रकाशन के सभम मा सावाजननक रूऩ से उऩक्स्थत होने के सभम कोई अन्म बौनतक संघषा नहीं 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 अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड की ऩॉलरसी अऩने ववश्रेषकों, ऩेशेवयों को ववश्रेषक के ऺेत्र भें ककसी बी कंऩनी की प्रनतबूनतमों के स्वाभी से ववश्रेषकों को रयऩोटा कयने से योकती है।

ववश्रेषक ऺनतऩूनता : ववश्रेषक हाई ब्रो भाकेट अनुसंधान 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 अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने वऩिरे 12 भहीनों भें ववषम कंऩनी से कोई भुआवजा 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) अनुसध
ं ान रयऩोटा के ववतयण की नतधथ से ऩूवा फायह भहीनों के दौयान ववषम कंऩनी अफ मा कबी बी ग्राहक नहीं यही 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 भाकेट अनुसध
ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने ववषम कंऩनी के अधधकायी, ननदे शक मा कभाचायी के रूऩ भें कबी बी काभ

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