HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.
Market Wrap-Up MCX Market Wrap-Up Commodity
Contract
Previous Close
Open
High
Low
Close
% Change in Price
% Change in Open Interest
% Change in Volume
Aluminium
31-Jul-18
148.60
148.55
152.00
146.45
148.55
-0.03%
25.80%
71.18%
Copper
31-Aug-18
454.20
456.00
456.60
445.45
446.10
-1.78%
-14.46%
55.65%
Crude Oil
19-Jul-18
4672
4656
5109
4627
5086
8.86%
22.56%
-36.81%
Gold
03-Aug-18
30610
30655
30738
30356
30432
-0.58%
17.87%
32.93%
Lead
31-Jul-18
163.90
163.90
168.00
163.00
167.20
2.01%
28.94%
27.96%
Natural Gas
26-Jul-18
199.90
199.90
209.00
197.20
200.80
0.45%
-16.09%
-16.13%
Nickel
31-Jul-18
1038.80
1033.10
1036.00
988.50
1022.50
-1.57%
-28.83%
2.43%
Silver
05-Sep-18
40432
40420
40541
39687
39921
-1.26%
-9.24%
135.76%
Zinc
31-Jul-18
202.35
200.95
204.90
194.85
200.50
-0.91%
-0.64%
12.51%
NCDEX Market Wrap-Up Contract
Previous Close
Open
High
Low
Close
% Change in Price
% Change in Open Interest
% Change in Volume
Castor Seed
20-Jul-18
4141
4125
4220
4065
4193
1.26%
15.20%
131.33%
Chana
20-Jul-18
3482
3471
3498
3380
3470
-0.34%
7.44%
57.71%
Dhaniya
20-Jul-18
4588
4581
4713
4432
4681
2.03%
7.41%
191.55%
COCUDAKL
20-Jul-18
1472.50
1473.00
1559.00
1441.00
1538.50
4.48%
-2.28%
83.65%
Guargum5
20-Jul-18
7500
7484
8285
7359
8171
8.95%
-1.70%
278.19%
Guarseed10
20-Jul-18
3618.00
3610.00
3932.00
3552.00
3855.00
6.55%
-40.67%
278.95%
Jeera
20-Jul-18
16915
17115
18615
16865
18500
9.37%
22.12%
84.50%
RMseed
20-Jul-18
3963
3955
4005
3892
3981
0.45%
-2.51%
48.27%
Ref Soya Oil
20-Jul-18
748.30
748.00
755.00
742.25
751.00
0.36%
7.77%
41.83%
Soyabean
20-Jul-18
3431
3424
3575
3386
3566
3.93%
-4.60%
77.01%
Turmeric
20-Jul-18
7330
7354
7464
7232
7362
0.44%
9.03%
141.25%
Mentha Oil
20-Jun-18
1147.90
1157.00
1221.20
1142.00
1219.90
6.27%
5.30%
-11.34%
Commodity
Currency Market Wrap-Up Currency Pair
Contract
Previous Close
Open
High
Low
Close
Change in Price (in%)
USDINR
27-Jul-18
68.0900
68.2375
69.3350
68.2100
68.7250
0.93%
GBPINR
27-Jul-18
90.5625
90.6000
90.4325
91.1200
90.4325
-0.14%
JPYINR
27-Jul-18
61.9250
62.2875
62.9700
61.7775
62.2225
0.48%
EURINR
27-Jul-18
79.4250
79.3900
80.4375
79.3500
80.2175
1.00% Continued…….
2
Copyright © 2018 Ways2Capital. All rights reserved
03/07/2018
Market Wrap-Up International Market Wrap-up Exchange
Previous Close
Open
High
Low
Close
% Change in Price
LME
2179.00
2180.25
2202.75
2130.25
2131.75
-2.17%
Copper
COMEX
3.033
3.018
3.018
2.930
2.951
-2.70%
Crude Oil
NYMEX
68.58
68.75
74.46
67.72
74.15
8.12%
Gold
COMEX
1267.40
1270.60
1271.20
1244.80
1251.30
-1.27%
Lead
LME
2392.50
2393.25
2395.75
2392.75
2394.75
0.09%
NYMEX
2.945
2.926
3.021
2.897
2.924
-0.71%
Nickel
LME
15370.00
15375.00
15412.50
14517.50
14950.00
-2.73%
Silver
COMEX
16.439
16.310
16.310
15.880
16.104
-2.04%
Zinc
LME
2934.75
2936.75
2940.50
2816.00
2856.75
-2.66%
Commodity Aluminium
Natural Gas
3
Copyright © 2018 Ways2Capital. All rights reserved
03/07/2018
Inventory Updates LME Inventory Closing AS (As on 29th June 18 2018) In tones
Closing (As on 22th June 2018) in tones
% Change in Price
Copper
298250
307675
-3.06%
Nickel
272754
275544
-1.01%
Lead
131700
132500
-0.60%
Zinc
249325
247450
0.76%
Aluminium
1112025
1131100
-1.69%
Commodity
Continued…….
4
Copyright © 2018 Ways2Capital. All rights reserved
03/07/2018
Inventory Updates
5
Copyright © 2018 Ways2Capital. All rights reserved
03/07/2018
Market Next Week Upcoming Economic Events Calender Time
Currency
Event
Forecast
Previous
Monday, July 2, 2018 7:15
CNY
Caixin Manufacturing PMI (Jun)
51.1
51.1
11:00
GBP
Investing.com GBP/USD Index
-
47.70%
11:00
USD
Investing.com Gold Index
-
64.10%
19:15
USD
Manufacturing PMI (Jun)
54.6
54.6
19:30
USD
ISM Manufacturing Employment (Jun)
56.8
56.3
19:30
USD
ISM Manufacturing PMI (Jun)
58.2
58.7
Tuesday, July 3, 2018 14:00
GBP
Construction PMI (Jun)
19:30
USD
19:30 19:30
52.6
52.5
Cap Goods Ship Non Defense Ex Air (MoM)
-
-0.30%
USD
Durable Goods Orders (MoM)
-
-0.60%
USD
Factory Orders (MoM) (May)
0.10%
-0.80%
52.7 53.9
-9.228M 52.9 54
190K 231K 56 56.5 58.3 -8.239M -
178K 227K 56 56.5 54.1 58.6 -9.891M -2.713M
Wednesday, July 4, 2018 2:00 7:15 14:00
USD CNY GBP
17:45 18:00 19:15 19:15 19:30 19:30 20:30 20:30
USD USD USD USD USD USD USD USD
API Weekly Crude Oil Stock Caixin Services PMI (Jun) Services PMI (Jun) Thursday, July 5, 2018 ADP Nonfarm Employment Change (Jun) Initial Jobless Claims Markit Composite PMI (Jun) Services PMI (Jun) ISM Non-Manufacturing Employment (Jun) ISM Non-Manufacturing PMI (Jun) Crude Oil Inventories Cushing Crude Oil Inventories
23:30
USD
FOMC Meeting Minutes
USD USD USD USD USD USD USD USD USD
Friday, July 6, 2018 Average Hourly Earnings (YoY) (YoY) (Jun) Average Hourly Earnings (MoM) (Jun) Exports Imports Nonfarm Payrolls (Jun) Participation Rate (Jun) Private Nonfarm Payrolls (Jun) Trade Balance (May) Unemployment Rate (Jun)
18:00 18:00 18:00 18:00 18:00 18:00 18:00 18:00 18:00
2.80% 0.30% 200K 187K -44.00B 3.80%
2.70% 0.30% 211.25B 257.44B 223K 62.70% 218K -46.20B 3.80%
Currency Weekly Pivots Currency Pair
Contract
R3
R2
R1
PP
S1
S2
S3
USDINR
27-Jul-18
71.0500
69.9000
69.3500
68.7567
68.1500
67.6000
66.5000
GBPINR
27-Jul-18
89.3000
90.0000
90.2500
90.6617
90.8500
91.3000
92.0000
JPYINR
27-Jul-18
64.7500
63.5500
62.9000
62.3233
61.6500
61.1000
59.9000
EURINR
27-May-18
82.2000
81.1000
80.7000
80.0017
79.5500
78.9000
77.8000 Continued…….
6
Copyright © 2018 Ways2Capital. All rights reserved
03/07/2018
Market Next Week MCX Weekly Pivots Commodity
Contract
R3
R2
R1
PP
S1
S2
S3
Aluminium
31-Jul-18
160.10
154.55
151.55
149.00
146.00
143.45
137.90
Copper
31-Aug-18
471.70
460.55
453.35
449.40
442.20
438.25
427.10
Crude Oil
19-Jul-18
5905
5423
5254
4941
4772
4459
3977
Gold
03-Aug-18
31631
31211
30955
30791
30535
30371
29951
Lead
31-Jul-18
176.05
171.05
169.10
166.05
164.10
161.05
156.05
Natural Gas
26-Jul-18
225.95
214.15
207.50
202.35
195.70
190.55
178.75
Nickel
31-Jul-18
1110.65
1063.15
1042.80
1015.65
995.30
968.15
920.65
Silver
05-Sep-18
41758
40904
40412
40050
39558
39196
38342
Zinc
31-Jul-18
220.20
210.15
205.35
200.10
195.30
190.05
180.00
NCDEX Weekly Pivots Commodity
Contract
R3
R2
R1
PP
S1
S2
S3
Castor Seed
20-Jul-18
4469
4314
4254
4159
4099
4004
3849
Chana
20-Jul-18
3685
3567
3519
3449
3401
3331
3213
Dhaniya
20-Jul-18
5171
4890
4785
4609
4504
4328
4047
COCUDAKL
20-Jul-18
1748.85
1630.85
1584.70
1512.85
1466.70
1394.85
1276.85
Guargum5
20-Jul-18
9790
8864
8518
7938
7592
7012
6086
Guarseed10
20-Jul-18
4540
4160
4007
3780
3627
3400
3020
Jeera
20-Jul-18
21490
19740
19121
17990
17371
16240
14490
RMseed
20-Jul-18
4185
4072
4027
3959
3914
3846
3733
Ref Soya Oil
20-Jul-18
774.90
762.15
756.55
749.40
743.80
736.65
723.90
Soyabean
20-Jul-18
3887
3698
3632
3509
3443
3320
3131
Turmeric
20-Jul-18
7817
7585
7473
7353
7241
7121
6889
Mentha Oil
31-Jul-18
1352.40
1273.20
1246.10
1194.00
1166.90
1114.80
1035.60
7
Copyright © 2018 Ways2Capital. All rights reserved
03/07/2018
MCX Fundamentals BULLION Battling between the bullish and bearish macros, gold prices failed to win hearts of investors offering a negative return of around 5 percent for 2018.A bearish chart pattern - Death Cross has materialised in gold, indicating that the precious metal is likely to extend a recent downtrend that has dragged it to its lowest level in 2018.A Death Cross is a technical pattern which is formed when a 50-period moving average crosses below the 200-period moving average. The pattern which was last seen in commodities in November 2016 and resulted in a decline of more than $50 in metal prices.
BASE METALS There is ample liquidity for an active fixed-price spot market and participants in the regional scrap and long steel segments are actively looking at cfr Vietnam prices to assess the latest movements. Its importance has grown to match that of the benchmark Metal Bulletin cfr Taiwan import price assessment, especially with import volumes continuing to grow quickly.Therefore, Metal Bulletin intends to provide a regular assessment of cfr Vietnam ferrous scrap prices in the spot market.
ENERGY Asian Brent crude oil which was trading at a premium against WTI on concerns over OPEC supply has now reversed the trend after OPEC decision to hike output. The premium of ICE Brent crude over NYMEX WTI was around $11, the highest in more than 3 years, early this month before falling to $5.The Energy Information Administration released its report on US natural gas inventories, showing a buildup of 66 billion cubic feet in the week ending June 22 adding to the 91B buildup in the previous reading, while analysts expected a 73B increase.
8
Copyright Š 2018 Ways2Capital. All rights reserved
03/07/2018
NCDEX Fundamentals SPICES Jeera kept trading firm last week on rising export and domestic demand, in addition to the falling arrivals. Low stocks in International markets and shifting export demand towards India aided by a firm Dollar vs Rupee, are also acting as key bullish factors. Markets talks suggest that a significant drop in sowing in regions across Erode due to a drought like situation last year. As per trader estimates, production is expected to fall by 1-3 lakh bags from the normal 15-20 lakh bags seen on an average. This lower production will be to some extent compensated by a higher production expectation from AP and Maharashtra.
OILSEEDS Moderate recovery was noted for Mentha oil as rains in growing regions of UP are apprehended to adversely affect the harvesting process—leading to some more firmness in prices. Daily demand remains strong enough to absorb the supplies. This too could support prices.Soya oil traded slight firm last week. On going trade restrictions between China and USA had been putting pressure over the soya oil market of late but with China removing import duty on soymeal from India it will be seen as a supportive factor for soy oil to some extent
GUAR COMPLEX Moderate firm trend was noted for Guar on rising crude oil prices and firmness in Dollar vs Rupee, that may aid the export demand. The bearish impact of favourable Monsoon reports amidst lack of strong demand seem to be gradually getting over. As Monsoon nears the growing areas of Rajasthan, there are expectations that further fall from these levels may be limited as they would not be sustainable for trading purpose in the mandis.
OTHERS RM seed faced immediate strong Resistance at the 4000 mark amid news of rains in areas in Rajasthan. Overall, positive tone in edible oils and soybean continued supporting prices at lower levels. In forthcoming sessions, steady demand for mustard oil, lowering arrivals and drop in the crop acreage shall be influential in keeping the upward trend intact Sideways trend was noted for Cotton/Kapas last week as monsoon neared growing regions of Gujarat. Adverse trade related issues between US and China kept apprehensions of lower demand for Cotton from US by China. However, firm Indian fundamentals are likely to support prices in coming sessions as demand may shift to India. 9
Copyright Š 2018 Ways2Capital. All rights reserved
03/07/2018
Calls of the Week (MCX) CRUDEOIL WTI and MCX oil prices rose more than 8 percent last week citing several supply concerns. Falling production in Venezuela and Libya, along with the risk of lower output from Iran as a result of U.S. sanctions, have all increased market worries of a supply shortage. This week we can expect further uptrend rally in Crude oil prices. For this week, if it breaks the level of if it breaks the level of 5110 on the upside then it can test the level of 5250 during the week. One can make buy position in it by maintaining a SL 5040
WEEKLY STRATEGY PERTICULAR
Action
Entry Range
DETAILS
Buy
ABOVE 5110
Target
5250
SL
5040
ZINC Zinc prices on Friday traded negative and went lower by 0.82% at MCX futures market on Friday. Whereas LME prices closed down by 1.65% on Friday. At LME, stocks decreased by 0.01% and the inventories withdrawals in form of cancelled warrants went down by 0.09% as per the closing of LME trading session on Friday. Market is trading at its important support level of 200 and we are expecting that market can bounce back from here. For this week, if it breaks the level of if it breaks the level of 199 on the upside then it can test the level of 203.50 and then 205 during the week.
WEEKLY STRATEGY PERTICULAR
Action
Entry Range
10
Copyright Š 2018 Ways2Capital. All rights reserved
DETAILS
BUY
ABOVE 199
Target
203.50
SL
197.90
03/07/2018
Calls of the Week (NCDEX) DHANIYA During its last trade on Friday, dhaniya futures traded in range bound levels with negative bias. Prices traded higher hitting five week high of Rs.4713/quintal tracking good buying activities at the spot market. Further, as monsoon has arrived in the growing regions, fears of quality damage to stored and dried stocks if heavy rainfall occurs kept the sentiments higher. Dhaniya futures are expected to trade in positive note for the next week. Lower levels buying from stockiest are likely to support dhaniya futures prices.
WEEKLY STRATEGY PERTICULAR
Action
Entry Range
DETAILS
BUY
ABOVE 4810
Target
4940
SL
4750
GUARGUMS Moderate firm trend was noted for Guar on rising crude oil prices and firmness in Dollar vs Rupee, that may aid the export demand. The bearish impact of favorable Monsoon reports amidst lack of strong demand seem to be gradually getting over. It made high of 8285 during the week and closed at 8171 with marginal gain of 9% on the weekly basis. Technically it consolidating above the resistance level of 8000 with the positive RSI and for this week, we can expect further upside movement in it.
WEEKLY STRATEGY PERTICULAR
Action
Entry Range
11
Copyright Š 2018 Ways2Capital. All rights reserved
DETAILS
BUY
ABOVE 8400
Target
8650
SL
8280
03/07/2018
Calls of the Week (FOREX) EURINR Last week EURINR Jul Futures started the week on positive note and continued the same for the entire week. It made a high of 80.4375 during the week and closed at on 80.2175 with the overall gain of 1.63% on weekly basis. Technically it consolidating above the major support level of 80.0000 with the positive RSI and volume and for this week, we can expect further upside movement in it. On For this week, if it breaks the level of if it breaks the level of 80.3800 on the upside then it can test the level of 80.9800 during the week. One can make buy position in it by maintaining a SL 79.9925
WEEKLY STRATEGY PERTICULAR
Action
Entry Range
DETAILS
BUY
ABOVE 80.3800
Target
80.9800
SL
79.9925
USDINR Last week USDINR Jul Futures started the week on positive note and continued the same till Thursday and made a high of 69.3350. On the last day of the week, we saw profit booking in it from the higher levels and it closed at 68.7250 with the overall gain of 0.93% on weekly basis. Technically it consolidating on the higher levels of the charts with the positive RSI and volume, and for this week, we can expect further upside movement in it.
WEEKLY STRATEGY PERTICULAR
Action
Entry Range
12
Copyright Š 2018 Ways2Capital. All rights reserved
DETAILS
Buy
ABOVE69.0000
Target
69.5000
SL
68.6950 03/07/2018
Disclaimer LEGAL DISCLAIMER (कानन ू ी अस्वीकयण) : This Document has been prepared by Ways2Capital (A Division of High Brow Market Research Investment Advisor Pvt Ltd). The information, analysis and estimates contained herein are based on Ways2Capital Equity/Commodities Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only.
मह दस्तावेज़ Ways2Capital (हाई ब्रो भाकेट अनुसध ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड का एक बाग) द्वाया तैमाय ककमा गमा है | महां ऩय दी गई जानकायी, ववश्रेषण औय अनुभान Ways2Capital इक्ववटी / कभोडडटी अनुसध ं ान के भूलमांकन ऩय आधारयत हैं औय ववश्वसनीम स्रोतों से प्राप्त की गई है | मह दस्तावेज़ केवर इक्छित प्राप्तकताा के उऩमोग के लरए ही है |
This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant for general information only. Ways2Capital Equity/Commodities Research, its directors, officers or employees shall not in any way to be responsible for the contents stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities or commodities. मह दस्तावेज़, सवोत्तभ रूऩ से, Ways2Capital इक्ववटी / कभोडडटीज अनुसंधान का प्रनतननधधत्व कयता है औय साभान्म जानकायी के लरए ही है | Ways2Capital इक्ववटी / कभोडडटीज अनुसंधान, इसके ननदे शकों, अधधकायी मा कभाचायी ककसी बी तयह से संफधं धत साभग्री के लरए क्जम्भेदाय नहीं है। | Ways2Capital इक्ववटी / कभोडडटीज अनुसंधान ककसी बी औय सबी उत्तयदानमत्वों को स्ऩष्ट रूऩ से अस्वीकाय कयता है जो इस संफंध भें सूचना, त्रुटटमों मा चूक से ऩैदा हो सकता है| इस दस्तावेज को ककसी बी प्रनतबूनत मा वस्तु को खयीदने के लरए फेचने मा एक आग्रह के लरए प्रस्ताव के रूऩ भें नहीं भाना जा सकता है |
All information, levels & recommendations provided above are given on the basis of technical & fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability for errors of opinion. People surfing through the website have right to opt the product services of their own choices.
उऩयोवत सबी सूचना, स्तय औय सुझाव, Ways2Capital के ववशेषऻ के ऩैनर द्वाया ककए गए तकनीकी औय भौलरक अनुसध ं ान के आधाय ऩय दी गई हैं, रेककन हभ टदए गए सुझावों की त्रुटटमों के लरए कोई दानमत्व स्वीकाय नहीं कयते हैं | वेफसाइट के भाध्मभ से सकपिंग कयने वारे रोगों को अऩनी ऩसंद के उत्ऩाद सेवाओं को चुनने का अधधकाय है|
Any investment in Equity/commodity market bears risk, company will not be liable for any loss done on these recommendations. These levels do not necessarily indicate future price moment. Company holds the right to alter the information without any further notice. Any browsing through website means acceptance of disclaimer.
इक्ववटी / कभोडडटी फाजाय भें कोई बी ननवेश जोखखभ के अधीन होता है, कंऩनी इन सुझावों ऩय ककए गए ककसी बी नुकसान के लरए उत्तयदामी नहीं होगी | मह स्तय बववष्म के कीभतों की गनत का संकेत नहीं दे ते है| वेफसाइट के भाध्मभ से ककसी बी ब्राउक्ज़ंग का अथा है 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 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.
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 संफंधधत 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|
(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, (ब)
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 |
(c) (स)
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; 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 ( ऺनतऩनू ता 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) अनुसंधान 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 अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने
13
ववषम कंऩनी के अधधकायी, ननदे शक मा कभाचायी के रूऩ भें कबी बी काभ
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03/07/2018