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
28-Sep-18
145.65
145.90
153.55
145.35
150.10
3.06%
33.32%
33.71%
Copper
30-Nov-18
423.70
426.35
432.80
423.25
423.80
0.02%
69.26%
-10.81%
Crude Oil
19-Sep-18
4,804
4,818
5,013
4,796
4,959
3.23%
7.29%
32.23%
Gold
05-Oct-18
29903
29910
30359
29883
30129
0.76%
7.15%
17.99%
Lead
28-Sep-18
145.55
146.2
149.55
145.85
147.55
1.37%
4.80%
7.78%
Natural Gas
28-Aug-18
204.5
204
208
199.6
206.9
1.17%
-16.61%
8.28%
Nickel
28-Sep-18
938.8
938.5
960.5
908
909.3
-3.14%
46.26%
93.27%
Silver
05-Sep-18
37004
37020
37525
36656
36701
-0.82%
77.82%
-7.10%
Zinc
28-Sep-18
178.15
178.45
180.75
174.40
176.10
-1.15%
-4.49%
-6.24%
NCDEX Market Wrap-Up Contract
Previous Close
Open
High
Low
Close
% Change in Price
% Change in Open Interest
% Change in Volume
Castor Seed
19-Sep-18
4676.00
4670.00
4700.00
4700.00
4659.00
-0.36%
-1.43%
-0.09%
Chana
19-Sep-18
4101.00
4102.00
4142.00
3754.00
3865.00
-5.75%
-15.68%
0.73%
Dhaniya
19-Sep-18
4774.00
4799.00
4824.00
4507.00
4676.00
-2.05%
-43.39%
1.97%
COCUDAKL
19-Sep-18
1746.50
1744.00
1747.00
1610.00
1667.50
-4.52%
29.34%
-29.34%
Guargum5
16-Oct-18
9201.00
9292.00
9546.00
8780.00
9535.00
3.63%
-7.44%
-2.77%
Guarseed10
16-Oct-18
4309.50
4346.00
4423.00
4074.00
4408.50
2.30%
-3.78%
7.80%
Jeera
19-Sep-18
19330.00 19290.00
19500.00 18880.00 19220.00
-0.57%
-65.34%
-3.53%
RMseed
19-Sep-18
4078.00
4074.00
4074.00
3921.00
3990.00
-2.16%
-34.13%
-23.28%
Ref Soya Oil
19-Sep-18
733.60
732.90
737.00
725.20
735.75
0.29%
133.44%
13.36%
Soyabean
16-Oct-18
3249.00
3379.00
3388.00
3236.00
3249.00
0.00%
-36.39%
15.82%
Turmeric
19-Sep-18
6868.00
6862.00
6942.00
6702.00
6814.00
-0.79%
-10.60%
-3.10%
Mentha Oil
28-Sep-18
1721.70
1759.90
1832.00
1740.90
1812.40
5.27%
13.67%
12.51%
Commodity
Currency Market Wrap-Up Contract
Previous Close
Open
High
Low
Close
Change in Price (in%)
USDINR
26-Sep-18
70.1925
70.0100
71.2500
69.9700
71.1875
1.42%
GBPINR
26-Sep-18
90.2950
90.1000
92.7500
90.0675
92.5525
2.50%
JPYINR
26-Sep-18
63.1375
63.1100
64.3325
63.0800
64.2800
1.81%
EURINR
26-Sep-18
81.4350
81.5575
83.2700
81.5125
83.0550
1.99%
Currency Pair
Continued…….
2
Copyright © 2018 Ways2Capital. All rights reserved
03/09/2018
Market Wrap-Up International Market Wrap-up Exchange
Previous Close
Open
High
Low
Close
% Change in Price
LME
2093.00
2086.50
2177.00
2086.00
2119.75
1.28%
Copper
COMEX
2.691
2.740
2.743
2.642
2.663
-1.04%
Crude Oil
NYMEX
68.54
68.57
70.50
68.21
69.91
2.00%
Gold
COMEX
1212.30
1210.30
1217.00
1196.00
1206.90
-0.45%
Lead
LME
2078.75
2085.00
2108.25
2051.75
2088.25
0.46%
NYMEX
2.912
2.908
2.931
2.841
2.921
0.31%
Nickel
LME
13430.00
13417.50
13675.00
12780.00
12815.00
-4.58%
Silver
COMEX
14.785
14.820
14.820
14.425
14.575
-1.42%
Zinc
LME
2532.75
2526.00
2561.25
2434.25
2461.50
-2.81%
Commodity Aluminium
Natural Gas
3
Copyright © 2018 Ways2Capital. All rights reserved
03/09/2018
Inventory Updates LME Inventory Closing (As on 31 th Aug18) In tones
Closing (As on 24 th Aug18) in tones
% Change in Price
Aluminium
1073050
1099975
-2.45%
Copper
266450
266950
-0.19%
Lead
126225
126550
-0.26%
Nickel
240678
243552
-1.18%
Zinc
243825
248575
-1.91%
Commodity
Continued…….
4
Copyright © 2018 Ways2Capital. All rights reserved
03/09/2018
Inventory Updates
5
Copyright © 2018 Ways2Capital. All rights reserved
03/09/2018
Market Next Week Upcoming Economic Events Calender Time
Currency
Event
Forecast
Previous
53.8
54
Monday, September 3, 2018 All Day
USD
United States - Labor Day USA
14:00
GBP
Manufacturing PMI (Aug)
Tentative
USD
OPEC Meeting Tuesday, September 4, 2018
14:00
GBP
Construction PMI (Aug)
54.9
55.8
19:15
USD
Manufacturing PMI (Aug)
54.5
54.5
19:30
USD
ISM Manufacturing PMI (Aug)
57.7
58.1
53.8
53.5
Wednesday, September 5, 2018 14:00
GBP
Services PMI (Aug)
18:00
USD
Exports
18:00
USD
Initial Jobless Claims
18:00
USD
Trade Balance (Jul)
213.81B -50.00B
-46.30B
Thursday, September 6, 2018 17:45
USD
ADP Nonfarm Employment Change (Aug)
190K
219K
18:00
USD
Initial Jobless Claims
215K
213K
18:00
USD
Nonfarm Productivity (QoQ) (Q2)
3.00%
2.90%
18:00
USD
Unit Labor Costs (QoQ) (Q2)
-0.90%
-0.90%
19:15
USD
Markit Composite PMI (Aug)
55
55
19:15
USD
Services PMI (Aug)
55.2
55.2
19:30
USD
Cap Goods Ship Non Defense Ex Air (MoM)
-1.70%
-1.70%
19:30
USD
Durable Goods Orders (MoM)
19:30
USD
Factory Orders (MoM) (Jul)
19:30
USD
ISM Non-Manufacturing Employment (Aug)
19:30
USD
ISM Non-Manufacturing PMI (Aug)
20:30
USD
Crude Oil Inventories
-1.70% -0.70%
0.70% 56.1
56.5
55.7 -2.566M
Friday, September 7, 2018 Tentative
CNY
Trade Balance (USD) (Aug)
39.33B
28.05B
18:00
USD
Average Hourly Earnings (YoY) (YoY) (Aug)
2.70%
2.70%
18:00
USD
FOMC Member Rosengren Speaks
18:00
USD
Nonfarm Payrolls (Aug)
190K
157K
18:00
USD
Participation Rate (Aug)
18:00
USD
Private Nonfarm Payrolls (Aug)
190K
170K
18:00
USD
Unemployment Rate (Aug)
3.80%
3.90%
62.90%
Currency Weekly Pivots Currency Pair
Contract
R3
R2
R1
PP
S1
S2
S3
USDINR
26-Sep-18
73.3500
72.1000
71.6500
70.8000
70.3500
69.5000
68.2500
GBPINR
26-Sep-18
97.1500
94.5000
93.5500
91.8000
90.8500
89.1000
86.4500
JPYINR
26-Sep-18
66.4000
65.1500
64.7000
63.9000
63.4500
62.6500
61.4000
EURINR
26-Sep-18
86.1000
84.3500
83.7000
82.6000
81.9500
80.8500
79.1000 Continued…….
6
Copyright © 2018 Ways2Capital. All rights reserved
03/09/2018
Market Next Week MCX Weekly Pivots Commodity
Contract
R3
R2
R1
PP
S1
S2
S3
Aluminium
28-Sep-18
166.05
157.85
153.95
149.65
145.75
141.45
133.25
Copper
30-Nov-18
445.70
436.15
429.95
426.60
420.40
417.05
407.50
Crude Oil
19-Sep-18
5357
5140
5049
4923
4832
4706
4489
Gold
05-Oct-18
31076
30600
30364
30124
29888
29648
29172
Lead
28-Sep-18
155.05
151.35
149.45
147.65
145.75
143.95
140.25
Natural Gas
28-Aug-18
221.65
213.25
210.10
204.85
201.70
196.45
188.05
Nickel
28-Sep-18
1030.95
978.45
943.90
925.95
891.40
873.45
820.95
Silver
05-Sep-18
38699
37830
37265
36961
36396
36092
35223
Zinc
28-Sep-18
189.80
183.45
179.80
177.10
173.45
170.75
164.40
NCDEX Weekly Pivots Commodity
Contract
R3
R2
R1
PP
S1
S2
S3
Castor Seed
19-Sep-18
4686
4686
4673
4686
4673
4686
4686
Chana
19-Sep-18
4696
4308
4087
3920
3699
3532
3144
Dhaniya
19-Sep-18
5303
4986
4831
4669
4514
4352
4035
COCUDAKL
19-Sep-18
1948.85
1811.85
1739.70
1674.85
1602.70
1537.85
1400.85
Guargum5
16-Oct-18
10819
10053
9794
9287
9028
8521
7755
Guarseed10
16-Oct-18
4999.85
4650.85
4529.70
4301.85
4180.70
3952.85
3603.85
Jeera
19-Sep-18
20440.00
19820.00
19520.00
19200.00
18900.00
18580.00
17960.00
RMseed
19-Sep-18
4301
4148
4069
3995
3916
3842
3689
Ref Soya Oil
19-Sep-18
756.25
744.45
740.10
732.65
728.30
720.85
709.05
Soyabean
16-Oct-18
3595
3443
3346
3291
3194
3139
2987
Turmeric
19-Sep-18
7299
7059
6937
6819
6697
6579
6339
Mentha Oil
31-Aug-18
1977.3
1886.2
1849.3
1795.1
1758.2
1704.0
1612.9
7
Copyright © 2018 Ways2Capital. All rights reserved
03/09/2018
MCX Fundamentals BULLION Gold prices inched up on Friday but remained on course to rack up their longest monthly losing streak since 2013 hit by worries over lingering U.S. Sino trade tensions. Gold would closely track moves in the dollar in which the metal is priced especially with investors bracing for the next round of the U.S. China trade conflict. Gold prices have declined about 7.7 percent so far this year amid international trade disputes and the Turkish currency crisis with investors preferring the dollar as a safe-haven. U.S.
BASE METALS
Base metals at LME during early trades on Friday were trading higher as China manufacturing PMI beats expectations for August. In the previous session all base metals complex corrected amid US-China trade tension. China reported on Friday that factory activity was higher than expected in August with the official manufacturing Purchasing Manager's Index (PMI) coming in at 51.3. The Chinese manufacturing PMI had been forecast to fall to 51.0 in August from 51.2 in July according to a poll of economists by Reuters.
ENERGY WTI crude oil prices trading flat on Friday after settling higher in the previous session on Thursday as traders continued to cheer a bullish U.S. petroleum report from a day earlier and signs of tightening global crude supplies amid falling Iranian exports. Crude oil prices remained on track to post a monthly gain as a sharp drop in U.S. The Energy Information Administration released its report on US natural gas storage, showing a build up of 48 billion cubic feet in the week ending August 17, compared to a 33 billion build up in the previous reading, while analysts expected a 47 billion increase.
8
Copyright Š 2018 Ways2Capital. All rights reserved
03/09/2018
NCDEX Fundamentals SPICES Markets bounced back from the lower levels for Jeer as demand started rising after the recent dips in prices. Moderate festive season demand on the domestic front and a rise in export demand are expected to provide support to the prices.Turmeric failed to show any strong recovery even as prices found immediate support at these levels after the recent dips from improved sowing reports. Even as technical is still not very strongly positive, there are expectations of demand on the domestic and export front picking up with harvesting still time away.
OILSEEDS Profit booking at the higher levels after the recent rise brought some dips to Mentha Oil prices. Sentiments remained positive however on rising demand in mandis amidst falling arrivals as new crop arrivals get over. Positive inputs from soy bean and lack of fresh bearish cues from global edible oil markets pushed soya oil prices higher. Soya oil had faced resistance in moving above 750 level in recent weeks although the downside has been limited up to 725-727.
GUAR COMPLEX Price found some support for Guar after recent fall in prices due to good rains in Rajasthan. However as the bearish impact of rains gradually get over with prices on the lower side and sowing period too nearing end fall in prices may be limited from the monsoon factor.
OTHERS RM seed posted a moderate recovery yesterday. However with prices turning significantly cheaper and fresh reports of India likely to resume export of rape meal from China we now do not anticipate much fall now and prices in medium term may find strong support. Soy bean futures once again found fresh buying interest. Reserved selling mood amongst stockists and positive global cues helped soy bean in posting moderate recovery. As viewed on the charts NCDEX October soy bean in near term may rise up to 3290-3350 at least if fails to sustain below 3150 on any particular week. 9
Copyright Š 2018 Ways2Capital. All rights reserved
03/09/2018
Calls of the Week (MCX) LEAD Lead continuously trading above the support level of 140 and making higher highs and higher lows indicating positive movement in it from short term to mid term basis supported by positive RSI. Last week Lead made a high of 149.55 and closed at 147.55 with overall marginal gain of 1.37% on weekly basis. For this week, if it breaks the level of 148 on the upper side then it can test the level of 154 during the week. One can make buy position in it by maintaining a SL at 146.90.
WEEKLY STRATEGY PARTICULAR
Action
Entry Range
DETAILS
Buy
Above 148
Target
153.40
SL
146.90
GOLD From last couple of trading weeks Gold is trading with positive sentiment and we are expecting that market can continue the same trend for this week also. Last week Gold made a high of 30359 and closed at 30129 with overall marginal gain of 0.76% on weekly basis. On its daily chart Gold is forming higher highs and higher lows formation indicating positive movement in it. For this week, if it breaks the level of 30120 on the upper side then it can test the level of 30450 during the week. One can make buy position in it by maintaining a SL at 30057.
WEEKLY STRATEGY PARTICULAR
Action
Entry Range
10
Copyright Š 2018 Ways2Capital. All rights reserved
DETAILS
Buy
Above 30120
Target
30450
SL
30057
03/09/2018
Calls of the Week (NCDEX) TURMERIC From last couple of trading weeks TMC is trading with negative sentiment and we are expecting that market can continue the same trend for this week also. Last week TMC made a low of 6702 and closed at 6814 with overall marginal loss of 0.79% on weekly basis. On its daily chart TMC is forming descending triangle formation indicating selling pressure in it. For this week, if it breaks the level of 6700 on the lower side then it can test the level of 6432 during the week. One can make sell position in it by maintaining a SL at 6824.
WEEKLY STRATEGY PARTICULAR
Action
Entry Range
DETAILS
Sell
Below 6700
Target
6432
SL
6824
DHANIYA Last week Dhaniya open with negative sentiment but found enough support of important psychological level of 4500. Last week Dhaniya made a low of 4507 and closed at 4676 with overall marginal loss of 2% on weekly basis. On its daily chart Dhaniya is facing support at 4500 and forming reversal formation. For this week, if it breaks the level of 4700 on the upper side then it can test the level of 4872 during the week. One can make buy position in it by maintaining a SL at 4632.
WEEKLY STRATEGY PARTICULAR
Action
Entry Range
11
Copyright Š 2018 Ways2Capital. All rights reserved
DETAILS
Buy
Above 4700
Target
4872
SL
4632
03/09/2018
Calls of the Week (FOREX) JPYINR Last week JPYINR open with positive sentiment but found enough resistance near the level of 64.30. Last week JPYINR made a high of 64.3325 and closed at 64.2800 with overall marginal gain of 1.80% on weekly basis. On its daily chart RSI trading in overbought zone and we are expecting correcting profit booking at higher level. For this week, if it breaks the level of 63.9500 on the lower side then it can test the level of 63.4500 during the week. One can make sell position in it by maintaining a SL at 64.2525.
WEEKLY STRATEGY PARTICULAR
Action
Entry Range
DETAILS
Sell
Below 63.9500
Target
63.4500
SL
64.2525
GBPINR Last week GBPINR made a high of 92.7500 and closed at 90.0675 with overall marginal gain of 2.50% on weekly basis. On its hourly chart GBPINR trading above its support trend and we believe that we can see some profit booking in it from higher level. For this week, if it breaks the level of 91.7400 on the lower side then it can test the level of 91.2525 during the week. One can make sell position in it by maintaining a SL at 92.0325.
WEEKLY STRATEGY
PARTICULAR
Action
Entry Range
12
Copyright Š 2018 Ways2Capital. All rights reserved
DETAILS
Sell
Above 91.7400
Target
91.2425
SL
92.0325
03/09/2018
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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03/09/2018