Equity research report 16 april 2018 ways2capital

Page 1

HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PRIVATE LIMITED

PHONE: 0731-6554125 | MAIL: SUPPORT@WAYS2CAPITAL.COM | ADD : 515-516, SHAGUN ARCADE,VIJAY NAGAR, INDORE, MP, 452001


Market Wrap–Up MAJOR INDICES INDEX

CLOSING AS ON 13th April 18

CURRENCY MARKET UPDATE

WEEKLY CHANGES

WEEKLY % CHANGE

CURRENCY PAIR

CURRENT CLOSING

PREVIOUS CLOSING

WEEKLY % CHANGE

Nifty

10480.60

149.00

1.44%

USDINR

65.290

65.090

0.31%

Nifty 100

10879.35

129.00

1.20%

GBPINR

93.150

91.260

2.07%

Nifty 200

5717.30

64.95

1.15%

EURINR

80.460

79.760

0.88%

Nifty 500

9267.65

95.60

1.04%

JPYINR

60.660

60.710

-0.08%

Nifty VIX

14.14

-0.61

-4.12%

EURUSD

1.230

1.230

0.00%

Nifty Bank

25200.6

327.45

1.32%

GBPUSD

1.430

1.412

1.25%

Nifty Auto

11465.30

21.15

0.18%

Dollar Index

89.80

90.11

-0.34%

Nifty Finance

10569.95

101.80

0.97%

Nifty FMCG

26982.90

177.00

0.66%

Nifty IT

13260.45

657.10

5.21%

Nifty Media

3349.80

-15.35

-0.46%

Nifty Metal

3725.45

121.40

3.37%

Nifty Pharma

8730.60

-41.80

Nifty PSU Banks

2941.2

Nifty PVT Bank Nifty Realty 2

COMMODITY MARKET UPDATE COMMODITY

CURRENT CLOSING

PREVIOUS CLOSING

WEEKLY % CHANGE

Gold COMEX

1347.90

1336.10

0.88%

Gold MCX

31106

30502

1.98%

Crude Oil NYMEX

67.39

62.02

8.66%

-0.48%

Crude Oil MCX

4401

4186

5.14%

-78.15

-2.59%

Brent Oil NYMEX

72.58

67.11

8.15%

14323.55

303.35

2.18%

Copper MCX

442.75

438.25

1.03%

300.9

-2.50

-0.82%

Natural Gas MCX

179.10

175.80

1.88%

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


Market at a Glance WEEKLY GAINERS CLOSING PRICE

WEEKLY % CHANGE

52 WEEK HIGH

HINDALCO

237.70

11.02%

283.95

AXISBANK

541.90

8.23%

627.50

TECHM

667.70

8.00%

671.00

TCS

3151.00

6.82%

3254.80

EICHER

31433.00

5.50%

33483.95

SCRIP

WEEKLY LOSERS CLOSING PRICE

WEEKLY % CHANGE

52 WEEK LOW

BPCL

405.45

-6.60%

400.17

HINDPETRO

333.70

-5.73%

323.50

IOC

165.30

-5.27%

159.25

LUPIN

781.35

-3.51%

727.05

SBI

251.20

-3.31%

232.50

SCRIP

3

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


Economic Calendar ECONOMIC EVENTS CALENDER TIME

CURRENY

EVENT

FORECAST

PREVIOUS

2.58%

2.48%

Monday, April 16, 2018 12:00

INR

WPI Inflation (YoY) (Mar) Tuesday, April 17, 2018

7:30

CNY

Fixed Asset Investment (YoY) (Mar)

7.60%

7.90%

7:30

CNY

GDP (YoY) (Q1)

6.70%

6.80%

7:30

CNY

GDP (QoQ) (Q1)

1.50%

1.60%

7:30

CNY

Industrial Production (YoY) (Mar)

6.20%

7.20%

7:30

CNY

NBS Press Conference

-

-

14:00

GBP

Average Earnings Index +Bonus (Feb)

3.00%

2.80%

14:00

GBP

Claimant Count Change (Mar)

5.0K

9.2K

14:00

GBP

Employment Change 3M/3M (MoM)

14:00

GBP

Unemployment Rate (Feb)

14:00

GBP

14:00 14:00

168.0K 4.30%

4.30%

CPI (MoM) (Mar)

0.30%

0.40%

GBP

CPI (YoY) (Mar)

2.70%

2.70%

GBP

PPI Input (MoM) (Mar)

0.40%

-1.10%

Wednesday, April 18, 2018

Thursday, April 19, 2018

4

14:00

GBP

Core Retail Sales (YoY) (Mar)

1.40%

1.10%

14:00

GBP

Core Retail Sales (MoM) (Mar)

-0.50%

0.60%

14:00

GBP

Retail Sales (YoY) (Mar)

2.00%

1.50%

14:00

GBP

Retail Sales (MoM) (Mar)

-0.50%

0.80%

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


Weekly Pivots NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT) SCRIP NAME

R4

R3

R2

R1

PP

S1

S2

S3

S4

ADANIPORTS

441.10

419.85

398.60

385.45

377.35

364.20

356.10

334.85

313.60

ASIANPAINT

1271.35

1234.45

1197.55

1181.35

1160.65

1144.45

1123.75

1086.85

1049.95

AXISBANK

697.35

643.00

588.65

567.40

534.28

513.00

479.90

425.55

371.20

BAJAJ-AUTO

2937.80

2882.80

2827.80

2794.55

2772.77

2739.50

2717.75

2662.75

2607.75

BAJAJFINSV

6310.70

6018.30

5725.90

5573.45

5433.50

5281.05

5141.10

4848.70

4556.30

BAJFINANCE

2157.95

2081.60

2005.25

1966.40

1928.88

1890.00

1852.50

1776.15

1699.80

BHARTIARTL

430.80

414.50

398.20

389.30

381.88

372.95

365.55

349.25

332.95

BPCL

580.80

528.75

476.70

446.85

424.65

394.80

372.60

320.55

268.50

CIPLA

601.90

587.45

573.00

564.50

558.52

550.00

544.05

529.60

515.15

COALINDIA

316.75

304.50

292.25

286.75

279.98

274.45

267.70

255.45

243.20

DRREDDY

2326.55

2245.45

2164.35

2112.20

2083.23

2031.05

2002.10

1921.00

1839.90

EICHERMOT

36156.70

34306.70

32456.70

31563.35

30606.67

29713.30

28756.65

26906.65

25056.65

GAIL

367.70

354.45

341.20

333.60

327.95

320.35

314.70

301.45

288.20

GRASIM

1177.15

1142.35

1107.55

1085.90

1072.72

1051.05

1037.90

1003.10

968.30

HCLTECH

1219.55

1143.10

1066.65

1036.85

990.18

960.35

913.70

837.25

760.80

HDFC

1974.60

1925.55

1876.50

1852.25

1827.42

1803.15

1778.35

1729.30

1680.25 Continued .......

5

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


Weekly Pivots NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT) SCRIP NAME

R4

R3

R2

R1

PP

S1

S2

S3

S4

HDFCBANK

2037.30

1999.70

1962.10

1943.55

1924.47

1905.90

1886.85

1849.25

1811.65

HEROMOTOCO

4146.45

4012.45

3878.45

3807.90

3744.45

3673.90

3610.45

3476.45

3342.45

HINDALCO

300.30

276.45

252.60

242.85

228.75

219.00

204.90

181.05

157.20

HINDPETRO

478.00

433.25

388.50

362.25

343.73

317.45

298.95

254.20

209.45

HINDUNILVR

1559.00

1506.00

1453.00

1432.50

1400.00

1379.50

1347.00

1294.00

1241.00

IBULHSGFIN

1579.65

1497.65

1415.65

1367.30

1333.65

1285.30

1251.65

1169.65

1087.65

ICICIBANK

345.60

325.50

305.40

296.20

285.27

276.05

265.15

245.05

224.95

INDUSINDBK

1986.85

1941.15

1895.45

1873.30

1849.73

1827.55

1804.00

1758.30

1712.60

INFRATEL

389.60

373.25

356.90

348.95

340.52

332.55

324.15

307.80

291.45

INFY

1393.30

1312.80

1232.30

1198.20

1151.78

1117.65

1071.25

990.75

910.25

IOC

236.30

214.00

191.70

179.80

169.40

157.50

147.10

124.80

102.50

ITC

289.75

281.05

272.35

267.25

263.62

258.50

254.90

246.20

237.50

KOTAKBANK

1275.40

1228.35

1181.30

1158.50

1134.25

1111.45

1087.20

1040.15

993.10

LT

1485.90

1439.40

1392.90

1374.95

1346.40

1328.45

1299.90

1253.40

1206.90

LUPIN

926.35

880.15

833.95

803.50

787.73

757.25

741.50

695.30

649.10

M&M

865.30

838.20

811.10

799.55

783.97

772.40

756.85

729.75

702.65 Continued .......

6

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


Weekly Pivots NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT) SCRIP NAME

R4

R3

R2

R1

PP

S1

S2

S3

S4

MARUTI

9950.85

9707.10

9463.35

9332.90

9219.57

9089.10

8975.80

8732.05

8488.30

NTPC

182.60

178.25

173.90

171.70

169.52

167.30

165.15

160.80

156.45

ONGC

208.45

199.35

190.25

186.00

181.13

176.85

172.00

162.90

153.80

POWERGRID

207.10

203.65

200.20

198.30

196.75

194.85

193.30

189.85

186.40

RELIANCE

1014.60

985.45

956.30

941.70

927.12

912.50

897.95

868.80

839.65

SBIN

302.10

286.80

271.50

262.70

256.20

247.40

240.90

225.60

210.30

SUNPHARMA

561.20

545.65

530.10

521.70

514.52

506.10

498.95

483.40

467.85

TATAMOTORS

413.55

395.45

377.35

367.95

359.22

349.80

341.10

323.00

304.90

TATASTEEL

680.10

652.60

625.10

611.75

597.57

584.20

570.05

542.55

515.05

TCS

4074.70

3748.90

3423.10

3279.55

3097.27

2953.70

2771.45

2445.65

2119.85

TECHM

833.05

770.70

708.35

680.45

645.97

618.05

583.60

521.25

458.90

TITAN

1116.10

1068.35

1020.60

998.60

972.82

950.80

925.05

877.30

829.55

ULTRACEMCO

4238.45

4126.00

4013.55

3939.65

3901.07

3827.15

3788.60

3676.15

3563.70

UPL

827.40

801.95

776.50

761.95

751.03

736.45

725.55

700.10

674.65

VEDL

342.25

324.55

306.85

298.30

289.13

280.55

271.40

253.70

236.00

WIPRO

338.70

321.50

304.30

296.40

287.07

279.15

269.85

252.65

235.45

YESBANK

357.20

342.40

327.60

319.90

312.80

305.10

298.00

283.20

268.40

ZEEL

639.00

618.35

597.70

584.85

577.05

564.20

556.40

535.75

515.10

7

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


Open Interest & price Analysis LONG BUILD-UP

NIFTY OPTIONS OPEN INTEREST ANALYSIS

SHORT COVERING

CHANGE IN OI (In %)

PRICE CHANGE (In %)

CHANGE IN OI (In %)

PRICE CHANGE (In %)

MINDTREE

58.08%

3.28%

TORNTPHARMA

0.45%

-13.33%

PAFEIND

30.65%

5.80%

CHENNPETRO

0.78%

-9.68%

RAMCOCEM

28.13%

5.68%

VOLTAS

1.16%

-5.15%

NATIONALUM

26.05%

8.89%

KPIT

0.13%

-5.10%

IRB

18.67%

10.91%

KSCL

1.37%

-4.76%

SCRIP

SCRIP

LONG UNWINDING

SHORT BUILD-UP

CHANGE IN OI (In %)

PRICE CHANGE (In %)

INFIBEAM

-0.90%

-2.94%

-6.34%

TV18BRADCST

-0.81%

-2.51%

45.83%

-7.08%

HCC

-1.97%

-2.12%

SIEMENS

33.69%

-4.36%

ALBK

-1.51%

-1.29%

IOC

18.16%

-5.28%

CASTROLIND

-5.10%

-0.76%

CHANGE IN OI (In %)

PRICE CHANGE (In %)

MGL

315.22%

-9.56%

BPCL

50.24%

ADANIENT

SCRIP

8

SCRIP

Copyright © 2018 Ways2Capital. All rights reserved

Analysis : As per the analysis of above chart. Major Resistance Level: 10500 followed by 10700 Major Support Levels:- 10200.

16/04/2018


Nifty Analysis NIFTY WEEKLY PIVOTS

Fundamental Outlook This has certainly been a good week of trade for our benchmark indices; in fact, the real action was seen in the

PARTICULAR

LEVEL

R4

11157.00

R3

10921.25

R2

10685.50

R1

10604.75

PP

10449.75

S1

10369.00

S2

10214.00

S3

9978.25

S4

9742.50

broader market that offered decent trading opportunities for market participants. The only disappointing thing was Nifty could not hold on to its position above the 10500 mark due to strong profit booking in IT and some of the banking conglomerates in the latter half. On the Economic front, The RBI's macro numbers like inflation, CPI, WPI rates were among the major Economic events in last week. Indian consumer prices rose 4.28 percent year-on-year in March of 2018, following a 4.44 percent increase in February and compared with market expectations of 4.2 percent. It is the lowest inflation rate in five months amid a slowdown in food cost. Nifty P/E ratio was in the range of 25.76 to 26.01 for the past week.

Technical Outlook Last week Nifty future recovered and reclaims its 10500 mark with addition of fresh buying and short covering in futures segment. On Nifty options front, maximum open interest concentration for April series is placed at 10500 call and 10200 put options. On daily charts Nifty has showed a fresh buying as it has crosses its major resistance levels of 10500 and gave closing above these levels. 9

Copyright Š 2018 Ways2Capital. All rights reserved

Continued ‌.... 16/04/2018


Nifty Analysis Short term moving averages is also supporting to the bulls as index has managed to surpass its hurdle of 50 EMA or 10400 levels on daily chart. We are expecting market may soon rally towards 10500-10650 levels. On the

WEEKLY STRATEGY PERTICULAR

DETAILS

downside, 10350 followed by 10400 would be seen as immediate support levels. Action Entry Price

BUY Above 10530

Target

10650

Stop Loss

10450

TECHNICAL INDICATOR ANALYSIS INDICATOR

CURRENT TREND

20 Days EMA

POSITIVE

50 Days EMA

POSITIVE

200 Days EMA

POSITIVE

For this week, traders can adopt buy strategy in it and above the level of 10530. It can test the level of Rs. 10650

RSI

POSITIVE

during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 10450.

MACD

POSITIVE

STOCHASTIC

POSITIVE Continued …....

10

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


Bank Nifty Analysis Nifty Bank fut started the last week on positive note and it traded with positive sentiments for the whole week. On Friday, Bank Nifty gave closing on positive note as bulls were active. We are expecting the index to move up side inch closer towards 25400-25500 levels, where the major resistance is placed, while on downside 2500024900 will act as a strong support for the index

WEEKLY STRATEGY PERTICULAR Action

DETAILS BUY

Entry Price

Above 25400

Target

25700

Stop Loss

25200

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

26766.15

R3

26231.80

R2

25697.45

R1

25466.20

PP

25163.10

S1

24931.85

For this week, traders can adopt buy strategy in it and above the level of 25400. It can test the level of Rs. 25700

S2

24628.75

during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 25200.

S3

24094.40

S4

23560.05

11

Copyright Š 2018 Ways2Capital. All rights reserved

16/04/2018


CONCOR Cash ( Call of the Week ) Technical Outlook

WEEKLY STRATEGY

Overall trend of the Stock is bullish for medium-long term .Currently stock is in some consolidation phase. Last

PERTICULAR

week stock started on positive not and traded with bullish movement throughout the week and gave closing

Action

on positive note after giving breakout of its major resistance levels if 1300. Its bullish trend is supported by im-

Entry Price

portant moving averages on daily chart. Candle Pattern shows good strength in buying. MACD Histogram is placed at 23.04 giving buying signals.

DETAILS BUY Above 1330

Target

1380.00

Stop Loss

1298.00

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

1470.05

R3

1409.60

R2

1349.15

R1

1324.05

PP

1288.70

S1

1263.60

S2

1228.25

For this week, traders can adopt buy on lower level strategy in it and above the level of 1330 it can test the level

S3

1167.80

of Rs. 1380 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1298.

S4

1107.35

12

Copyright Š 2018 Ways2Capital. All rights reserved

16/04/2018


BOMDYING Cash ( Call of the Week ) Technical Outlook

WEEKLY STRATEGY

BOMDYEING started the last week on positive note and showed good positive rally on upside. Meanwhile in

PERTICULAR

other trading session’s stock remained in consolidation phase. On daily chart it showed a good consolidation

Action

on higher levels. On intraday chart stock has showed good positive movement. Stock is trading above its 21, 50

Entry Price

& 100 days moving averages. MACD Histogram is firmly placed at 3.36 and giving buying signals.

DETAILS BUY Above 262

Target

272.00

Stop Loss

257.00

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

304.20

R3

287.60

R2

271.00

R1

260.40

PP

254.4

S1

243.80

S2

237.80

For this week, traders can adopt buy on lower level strategy in it and above the level of 262 it can test the level

S3

221.20

of Rs. 272 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 257.

S4

204.60

13

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


YESBANK Futures ( Call of the Week ) Technical Outlook

WEEKLY STRATEGY

Last week yes bank open in positive note but after that its move in negative trend in entire week and made low

PERTICULAR

DETAILS

of 306.65 we can expect further downside movement in it

Action

SELL

According to technical analysis YesBank able to break support level of 310 but gives closing above this level at

Entry Price

310.65.

Target

301.00

Stop Loss

312.50

Below 307.50

WEEKLY PIVOTS

For next week traders can made short positions in YesBank below the level of 307.50 for the the tgt of 301 and sl of 312.50

14

Copyright © 2018 Ways2Capital. All rights reserved

PARTICULAR

LEVEL

R4

356.30

R3

341.50

R2

326.70

R1

318.10

PP

311.9

S1

303.30

S2

297.10

S3

282.30

S4

267.50 16/04/2018


INDIACEM Futures ( Call of the Week ) Technical Outlook

WEEKLY STRATEGY

Last week indiacem open in negative trend but after it gives positive movement from here and made high of

PERTICULAR

155.45 . According to technical analysis indiacem futures break major resistance level of 150 but unable to give

Action

closing above this level. we can made long positions in indiacem above this resistance level.

Entry Price

DETAILS BUY Above 150.40

Target

156.00

Stop Loss

148.00

WEEKLY PIVOTS

For next week traders can make long position in indiacem futures above 150.40 for the tgt of 156 and sl of 148. 15

Copyright Š 2018 Ways2Capital. All rights reserved

PARTICULAR

LEVEL

R4

177.80

R3

168.10

R2

158.40

R1

152.30

PP

148.7

S1

142.60

S2

139.00

S3

129.30

S4

119.60 16/04/2018


Disclaimer LEGAL DISCLAIMER (कानूनी 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 अनस ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड का एक बाग) द्वाया तैमाय ककमा गमा है | महां ऩय दी गई जानकायी, ववश्रेषण औय अनभ ं ान के भल ु ध ु ान Ways2Capital इक्ववटी / कभोडडटी अनस ु ध ू मांकन ऩय आधारयत हैं औय ववश्वसनीम स्रोतों से प्राप्त की गई है | मह दस्तावेज़ केवर इक्छित प्राप्तकता​ा 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 संफंधधत 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, त्रटु टमों 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 सच ं ान के आधाय ऩय दी गई हैं, रेककन हभ टदए गए सझ ू ना, स्तय औय सझ ु ाव, Ways2Capital के ववशेषऻ के ऩैनर द्वाया ककए गए तकनीकी औय भौलरक अनस ु ध ु ावों की त्रटु टमों के लरए कोई दानमत्व स्वीकाय नहीं कयते हैं | वेफसाइट के भाध्मभ से सकपिंग कयने वारे रोगों को अऩनी ऩसंद के उत्ऩाद सेवाओं को चन ु ने 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 जायीकता​ा 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.

16

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


Disclaimer 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 अनुसध ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड द्वाया ननमुवत हैं | इस रयऩोटा भें व्मवत सबी ववचाय कंऩनी के फाये भें व्मक्वतगत ववचायों को दशा​ाता 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

(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 |

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 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 ( ऺ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, ऩेशव े यों 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

(b)

The subject company is not now or never a client during twelve months preceding the date of distribution of the research report.

वऩिरे 12 भहीनों भें ववषम कंऩनी से कोई भुआवजा प्राप्त नहीं ककमा है |

(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

17

ववषम कंऩनी के अधधकायी, ननदे शक मा कभाचायी के रूऩ भें कबी बी काभ

Copyright © 2018 Ways2Capital. All rights reserved

16/04/2018


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.