Equity Research Report 03 July 2018 Ways2Capital

Page 1

HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PRIVATE LIMITED

PHONE: 0731-6626191 | MAIL: SUPPORT@WAYS2CAPITAL.COM | ADD : 515-516, SHAGUN ARCADE,VIJAY NAGAR, INDORE, MP, 452001


Market Wrap–Up MAJOR INDICES

CURRENCY MARKET UPDATE

INDEX

CLOSING AS ON 29th Jun 18

Nifty

10714.30

-107.55

Nifty 100

10993.45

Nifty 200

CURRENCY PAIR

CURRENT CLOSING

PREVIOUS CLOSING

-0.99%

USDINR

68.7250

67.7800

1.39%

-126.20

-1.13%

GBPINR

90.4325

90.1400

0.32%

5713.20

-73.35

-1.27%

EURINR

80.2125

79.0000

1.53%

Nifty 500

9162.45

-134.20

-1.44%

JPYINR

61.8300

61.6100

0.36%

Nifty VIX

12.94

0.92

-1.50%

EURUSD

1.1661

1.1658

0.03%

Nifty Bank

26364.2

-402.65

-3.42%

GBPUSD

1.3163

1.3284

-0.91%

Nifty Auto

10709.05

-379.45

-0.47%

Dollar Index

94.35

94.18

0.18%

Nifty Finance

11007.05

-206.80

-1.84%

Nifty FMCG

28966.00

335.25

1.14%

COMMODITY

Nifty IT

13989.5

212.45

1.54%

Gold COMEX

Nifty Media

3025.70

-121.95

-3.87%

Gold MCX

30432

30610

-0.58%

Nifty Metal

3440.15

8.60

0.25%

Crude Oil NYMEX

74.15

68.58

8.12%

Nifty Pharma

9173.15

-187.75

-2.01%

Crude Oil MCX

5086

4672

8.86%

Nifty PSU Banks

2791.5

-56.80

-5.32%

Brent Oil NYMEX

79.44

75.55

5.15%

Nifty PVT Bank

14961.75

-244.80

-1.61%

Copper MCX

452.30

460.40

-1.76%

271.55

-10.70

-3.79%

Natural Gas NYMEX

2.924

2.945

-0.71%

Nifty Realty 2

WEEKLY % CHANGE

WEEKLY CHANGES

WEEKLY % CHANGE

COMMODITY MARKET UPDATE

Copyright © 2018 Ways2Capital. All rights reserved

CURRENT CLOSING 1251.30

PREVIOUS CLOSING 1267.40

WEEKLY % CHANGE -1.27%

03/07/2018


Market at a Glance WEEKLY GAINERS CLOSING PRICE

WEEKLY % CHANGE

52 WEEK HIGH

INFRATEL

300.55

5.09%

481.90

UTRACEMCO

3818.60

4.88%

4594.30

INFY

1307.20

4.76%

1341.80

HINDALCO

230.50

3.83%

293.95

HCLTECH

926.25

3.35%

1106.60

SCRIP

WEEKLY LOSERS CLOSING PRICE

WEEKLY % CHANGE

52 WEEK LOW

HINDERO

259.20

-16.70%

256.55

TATAMOTORS

269.30

-12.56%

262.6

BPCL

373.30

-12.44%

359.6

ICICIBANK

275.40

-8.40%

255

IOC

156.00

-8.24%

150.15

SCRIP

3

Copyright © 2018 Ways2Capital. All rights reserved

03/07/2018


Economic Calendar ECONOMIC EVENTS CALENDER TIME

CURRENY

EVENT

FORECAST

PREVIOUS

Monday, July 2, 2018 7:15

CNY

Caixin Manufacturing PMI (Jun)

51.10

51.10

11:00

GBP

Investing.com GBP/USD Index

-

47.70%

14:00

GBP

Manufacturing PMI (Jun)

54.10

54.30

52.50

52.50

Tuesday, July 3, 2018 14:00

GBP

Construction PMI (Jun) Wednesday, July 4, 2018

7:15

CNY

Caixin Services PMI (Jun)

52.70

52.90

14:00

GBP

Services PMI (Jun)

53.9

54

16:25

GBP

BoE Saporta Speaks

-

-

-

-

0.02

0.02

-

-21.6K

Thursday, July 5, 2018 15:30

GBP

BoE Gov Carney Speaks Friday, July 6, 2018

13:00

GBP

Halifax House Price Index (YoY) (Jun) Saturday, July 7, 2018

1:00 4

GBP

CFTC GBP speculative net positions Copyright © 2018 Ways2Capital. All rights reserved

03/07/2018


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

5

R4

R3

R2

R1

PP

ADANIPORTS

435.35

413.10

390.85

382.00

368.57

ASIANPAINT

1373.35

1337.65

1301.95

1283.20

AXISBANK

584.80

560.20

535.60

BAJAJ-AUTO

3188.40

3054.00

BAJAJFINSV

7558.90

BAJFINANCE

S2

S3

359.70

346.30

324.05

301.80

1266.25

1247.50

1230.55

1194.85

1159.15

523.20

510.97

498.55

486.35

461.75

437.15

2919.60

2864.95

2785.17

2730.50

2650.75

2516.35

2381.95

7025.35

6491.80

6156.45

5958.25

5622.90

5424.70

4891.15

4357.60

2819.15

2653.80

2488.45

2392.40

2323.10

2227.05

2157.75

1992.40

1827.05

BHARTIARTL

422.20

407.45

392.70

387.35

377.93

372.55

363.15

348.40

333.65

BPCL

576.20

513.05

449.90

411.60

386.72

348.40

323.55

260.40

197.25

CIPLA

699.40

669.85

640.30

628.50

610.73

598.90

581.15

551.60

522.05

COALINDIA

302.40

289.60

276.80

270.60

263.98

257.75

251.15

238.35

225.55

DRREDDY

2573.05

2469.25

2365.45

2300.25

2261.62

2196.40

2157.80

2054.00

1950.20

EICHERMOT

34597.05

32627.30

30657.55

29624.00

28687.80

27654.25

26718.05

24748.30

22778.55

GAIL

434.65

401.40

368.15

354.20

334.87

320.90

301.60

268.35

235.10

GRASIM

1164.10

1113.40

1062.70

1034.80

1011.98

984.05

961.25

910.55

859.85

HCLTECH

997.95

972.00

946.05

936.15

920.07

910.15

894.10

868.15

842.20

HDFC

2114.70

2044.20

1973.70

1940.90

1903.20

1870.40

1832.70

1762.20 Continued 1691.70 .......

Copyright © 2018 Ways2Capital. All rights reserved

S1

S4

03/07/2018


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

6

R4

R3

R2

R1

PP

HDFCBANK

2308.05

2241.10

2174.15

2141.30

2107.17

2074.30

2040.20

1973.25

1906.30

HEROMOTOCO

4107.40

3913.80

3720.20

3596.85

3526.60

3403.25

3333.00

3139.40

2945.80

HINDALCO

273.80

257.95

242.10

236.30

226.22

220.40

210.35

194.50

178.65

HINDPETRO

444.80

388.60

332.40

295.80

276.17

239.55

219.95

163.75

107.55

HINDUNILVR

1813.25

1752.60

1691.95

1666.55

1631.27

1605.85

1570.60

1509.95

1449.30

IBULHSGFIN

1412.85

1326.85

1240.85

1191.70

1154.83

1105.65

1068.80

982.80

896.80

ICICIBANK

374.55

343.65

312.75

294.10

281.83

263.15

250.90

220.00

189.10

INDUSINDBK

2148.60

2083.15

2017.70

1974.95

1952.25

1909.50

1886.80

1821.35

1755.90

INFRATEL

373.75

348.15

322.55

311.55

296.95

285.95

271.35

245.75

220.15

INFY

1475.10

1414.10

1353.10

1330.15

1292.07

1269.10

1231.05

1170.05

1109.05

IOC

220.20

199.75

179.30

167.65

158.82

147.15

138.35

117.90

97.45

ITC

289.90

281.35

272.80

269.50

264.25

260.95

255.70

247.15

238.60

KOTAKBANK

1482.05

1434.15

1386.25

1364.60

1338.35

1316.70

1290.45

1242.55

1194.65

LT

1554.90

1457.15

1359.40

1317.25

1261.62

1219.45

1163.85

1066.10

968.35

LUPIN

1033.00

989.00

945.00

924.40

901.00

880.40

857.00

813.00

769.00

M&M

996.80

964.65

932.50

915.10

900.32

882.90

868.15

836.00

Copyright © 2018 Ways2Capital. All rights reserved

S1

S2

S3

S4

803.85 Continued ....... 03/07/2018


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

7

R4

R3

R2

R1

PP

S1

S2

S3

S4

MARUTI

9688.40

9411.45

9134.50

8980.05

8857.55

8703.10

8580.60

8303.65

8026.70

NTPC

190.90

179.50

168.10

163.90

156.68

152.45

145.25

133.85

122.45

ONGC

183.70

174.80

165.90

162.15

156.97

153.20

148.05

139.15

130.25

POWERGRID

234.90

219.75

204.60

195.75

189.43

180.55

174.25

159.10

143.95

RELIANCE

1205.05

1128.85

1052.65

1012.55

976.42

936.30

900.20

824.00

747.80

SBIN

315.10

297.65

280.20

269.80

262.73

252.30

245.25

227.80

210.35

SUNPHARMA

667.60

635.75

603.90

583.95

572.05

552.10

540.20

508.35

476.50

TATAMOTORS

412.50

368.05

323.60

296.45

279.15

252.00

234.70

190.25

145.80

TATASTEEL

653.25

621.70

590.15

578.95

558.60

547.40

527.05

495.50

463.95

TCS

2083.75

2004.60

1925.45

1886.60

1846.30

1807.45

1767.15

1688.00

1608.85

TECHM

933.25

845.65

758.05

706.75

670.45

619.15

582.85

495.25

407.65

TITAN

1041.05

981.80

922.55

900.55

863.28

841.25

804.00

744.75

685.50

ULTRACEMCO

4468.45

4236.10

4003.75

3911.20

3771.38

3678.80

3539.00

3306.65

3074.30

UPL

757.30

712.85

668.40

643.60

623.95

599.15

579.50

535.05

490.55

VEDL

275.60

261.65

247.70

241.95

233.75

228.00

219.80

205.85

191.90

WIPRO

284.30

276.00

267.70

264.60

259.40

256.30

251.10

242.80

234.50

YESBANK

379.60

365.15

350.70

345.20

336.23

330.70

321.75

307.30

292.85

ZEEL

656.25

620.60

584.95

564.45

549.30

528.80

513.65

478.00

442.35

Copyright © 2018 Ways2Capital. All rights reserved

03/07/2018


Open Interest & price Analysis LONG BUILD-UP

NIFTY OPTIONS OPEN INTEREST ANALYSIS

SHORT COVERING

CHANGE IN OI (In %)

PRICE CHANGE (In %)

SCRIP

CHANGE IN OI (In %)

PRICE CHANGE (In %)

-

-

-

ACC

-38.84%

2.25%

-

-

-

KOTAKBANK

-31.47%

1.10%

-

-

-

HDFCBANK

-25.16%

1.14%

-

-

-

PAGEIND

-23.97%

3.17%

-

-

-

INFRATEL

-0.2352

0.0377

SCRIP

LONG UNWINDING

SHORT BUILD-UP CHANGE IN OI (In %)

PRICE CHANGE (In %)

SCRIP

CHANGE IN OI (In %)

PRICE CHANGE (In %)

SRTRANSFIN

18.98%

-13.38%

MRPL

-47.63%

-5.02%

KAJARIACER

18.58%

-5.74%

TORNTPOWER

-35.09%

-5.46%

-

-

-

INDIANB

-34.73%

-1.99%

-

-

-

KPIT

-33.42%

-2.24%

-

-

-

AJANTPHARM

-0.3267

-0.0545

SCRIP

8

Copyright © 2018 Ways2Capital. All rights reserved

Analysis : As per the analysis of above chart. Major Resistance Level: 11000 Major Support Levels: 10600

03/07/2018


Nifty Analysis NIFTY WEEKLY PIVOTS

Fundamental Outlook Equity benchmarks ended June on a subdued note as the Nifty snapped its five week winning spree and settled the week at 10714, down 108 points or 1% Despite weak global and domestic cues, the Nifty has managed to hold the

PARTICULAR

LEVEL

R4

11479.40

R3

11216.45

R2

10953.50

R1

10824.15

PP

10690.55

S1

10561.20

S2

10427.60

S3

10164.65

S4

9901.70

key support area of 10550 on three occasions during June 2018, highlighting significance of 10550. On the sartorial front, we expect FMCG, IT stocks to outperform. Auto stocks will be in focus ahead of monthly sales number. At the same time, bargain buy opportunity would be seen in infra and metals

On the Economic front USD/INR remain of the major factor for Indian equity market's bearishness as US Dollar gave closing near to its 52 week high on weekly basis. Crude oil price also remained bullish for whole week. Nifty P/E ratio was in the range of 26.48 to 25.90 for the past week.

Technical Outlook Nifty future started the last week on negative note and continued its bearish run till last session of the week where Index showed a good recovery curtsy to fresh long positions in F&O segment after expiry . it gave closing on negative note on weekly basis with loss of 0.99%. index gave breakout of its major down- trend, trend line on daily chart and gave closing below its major support levels of 10750. a close below 10,550 levels on the other side major resistance is paced at 10830 levels.

Continued ‌.... 9

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03/07/2018


Nifty Analysis Hence, in the next weekly trading sessions bears shall pick up momentum once they manage to push the prices below 10,590 levels and selling shall get accelerated further on on a close below 10,550 levels on the other side

WEEKLY STRATEGY PARTICULAR

DETAILS

Action

SELL

Entry Price

BELOW 10590

Target

10440

Stop Loss

10701

major resistance is paced at 10830 levels. On the options front, maximum Put OI is placed at 10,600 followed by 10,500 strikes while maximum Call OI is placed at 11,000 followed by 10,800 strikes

.

TECHNICAL INDICATOR ANALYSIS

For this week, traders can adopt sell on higher level strategy in it and below the level of 10590. It can test the level of Rs. 10440 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 10701

INDICATOR

CURRENT TREND

20 Days EMA

NEGATIVE

50 Days EMA

NEGATIVE

200 Days EMA

NEGATIVE

RSI

NEGATIVE

MACD

NEGATIVE

STOCHASTIC

NEGATIVE Continued …....

10

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03/07/2018


Bank Nifty Analysis Nifty Bank fut started the last week on positive note on Monday but could not continue its positive run throughout the week as it observed selling pressure from higher levels and gave closing on negative note on weekly basis. It has gave breakout of its major trend line which was earlier acting as support for the index. if it manages to trade below the levels of 26100 than further downside can be seen in it. Major resistance is placed at 26440 &

WEEKLY STRATEGY PARTICULAR Action

DETAILS SELL

Entry Price

BELOW 26830

Target

27000/ 27100

26700 levels while support is placed at 26065 & 25700 levels. Stop Loss

26695

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

28480.10

R3

27793.20

R2

27106.30

R1

26728.00

PP

26419.40

S1

26041.10

For this week, traders can adopt sell on higher level strategy in it and below the level of 26065. It can test the

S2

25732.50

level of Rs. 25700 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 26265.

S3

25045.60

S4

24358.70

11

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03/07/2018


HINDUNILVR CASH ( Call of the Week ) Technical Outlook

WEEKLY STRATEGY

Overall trend of the Stock is bullish for long term . For short term stock is in some consolidation phase. Last

PARTICULAR

DETAILS

week stock started on negative note and traded with sideways movement throughout the week. Stock is trad-

ACTION

BUY

ENTRY PRICE

Above 1648

TARGET

1699.50

STOP LOSS

1613.90

ing near its major resistance levels of 1650 on daily chart. If it manages to trade above the levels of 1645 than further upside can be seen in it . Stock has showed a good positive move on intraday chart.

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

1813.20

R3

1752.55

R2

1691.90

R1

1666.50

PP

1631.25

S1

1605.85

S2

1570.60

For this week, traders can adopt buy on lower level strategy in it and above the level of 1648 it can test the

S3

1509.95

level of Rs. 1699.50 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.

S4

1449.30

12

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03/07/2018


ASIAN PAINTS ( Call of the Week ) Technical Outlook Asian paints is looking bullish on long term charts. In short term stock was in some consolidation phase. Last week stock started on negative note but from lower levels good buying was seen in the stock. On daily chart

WEEKLY STRATEGY PARTICULAR

DETAILS

ACTION

BUY

ENTRY PRICE

Above 1285

TARGET

1325.00

STOP LOSS

1259.80

stock has gave breakout of its important resistance levels of 1285 and trading above this levels . On intraday chart stock has gave breakout of its major trend line and it is looking very positive in upcoming trading sessions.

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

1373.35

R3

1337.65

R2

1301.95

R1

1283.20

PP

1266.25

S1

1247.50

S2

1230.55

For this week, traders can adopt buy on lower level strategy in it and above the level of 1285 it can test the

S3

1194.85

level of Rs. 1325 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1259.80

S4

1159.15

13

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03/07/2018


GODREJCP FUTURES ( Call of the Week ) Technical Outlook

WEEKLY STRATEGY

Overall trend of the Stock is bullish for long as well as short term phase. Last week stock started on positive

PARTICULAR

DETAILS

note and traded with positive movement throughout the week. Stock is trading near its 52 week high on daily

ACTION

BUY

ENTRY PRICE

Above 1244

TARGET

1264.00

STOP LOSS

1235.00

chart. If it manages to trade above the levels of 1244 than further upside can be seen in it . Stock has showed a good positive move on intraday chart.

WEEKLY PIVOTS

For this week, traders can adopt buy on lower level strategy in it and above the level of 1244 it can test the level of Rs. 1264 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1235. 14

Copyright © 2018 Ways2Capital. All rights reserved

PARTICULAR

LEVEL

R4

1450.90

R3

1370.20

R2

1289.50

R1

1258.30

PP

1208.8

S1

1177.60

S2

1128.10

S3

1047.40

S4

966.70 03/07/2018


JUBLFOOD FUTURES ( Call of the Week ) Technical Outlook JUBLFOOD is looking bullish on long term charts. Last week stock started on positive but couldn't maintain the same buying in whole week as stock showed some profit booking from higher levels. On daily chart stock is

WEEKLY STRATEGY PERTICULAR

DETAILS

ACTION

BUY

ENTRY PRICE

Above 1415

TARGET

1445.00

STOP LOSS

1399.00

about to give breakout of its 52 week high. On intraday chart stock has showed good positive movement. If it manages to sustain above 1415 levels than further buying can be seen in it.

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

1607.55

R3

1535.85

R2

1464.15

R1

1428.60

PP

1392.45

S1

1356.90

For this week, traders can adopt buy on lower level strategy in it and above the level of 1415 it can test the

S2

1320.75

level of Rs. 1445 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1399.

S3

1249.05

S4

1177.35

15

Copyright © 2018 Ways2Capital. All rights reserved

03/07/2018


Disclaimer LEGAL DISCLAIMER ( कानूनी अस्वीकरण) : 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. यह दस्तावेज़ Ways2Capital (हाई ब्रो माके ट अनुसध ं ान ननवेश सलाहकार प्राइवेट नलनमटेड का एक भाग) द्वारा तैयार ककया गया है | यहां पर दी गई जानकारी, नवश्लेषण और अनुमान Ways2Capital इकिटी / कमोनडटी अनुसध ं ान के मूलयांकन पर आधाररत हैं और नवश्वसनीय स्रोतों से प्राप्त की गई है | यह दस्तावेज़ के वल इनछित प्राप्तकता​ा के उपयोग के नलए 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. यह दस्तावेज़, सवोत्तम रूप से, Ways2Capital इकिटी / कमोनडटीज अनुसंधान का प्रनतनननधत्व करता है और सामान्य जानकारी के नलए ही है | Ways2Capital इकिटी / कमोनडटीज अनुसंधान, इसके ननदेशकों, अनधकारी या कमाचारी ककसी भी तरह से संबंनधत सामग्री के नलए नजम्मेदार नहीं है। |

Ways2Capital इकिटी / कमोनडटीज अनुसंधान ककसी भी और सभी उत्तरदानयत्वों को स्पष्ट रूप से अस्वीकार करता है जो इस संबंध में सूचना, त्रुरटयों या चूक से पैदा हो सकता है| इस दस्तावेज को ककसी भी प्रनतभूनत या वस्तु को खरीदने के नलए बेचने या एक आग्रह के नलए प्रस्ताव के रूप में नहीं माना 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. उपरोक्त सभी सूचना, स्तर और सुझाव, Ways2Capital के नवशेषज्ञ के पैनल द्वारा ककए गए तकनीकी और मौनलक अनुसध ं ान के आधार पर दी गई हैं, लेककन हम कदए गए सुझावों की त्रुरटयों के नलए कोई दानयत्व स्वीकार नहीं करते हैं | वेबसाइट के माध्यम से सर्फिंग करने वाले लोगों को अपनी पसंद के उत्पाद सेवाओं को चुनने का अनधकार 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. इकिटी / कमोनडटी बाजार में कोई भी ननवेश जोनखम के अधीन होता है, कं पनी इन सुझावों पर ककए गए ककसी भी नुकसान के नलए उत्तरदायी नहीं होगी | यह स्तर भनवष्य के कीमतों की गनत का संकेत नहीं देते है| वेबसाइट के माध्यम से ककसी भी ब्राउजज़ग का अथा है अस्वीकरण की स्वीकृ नत।

DISCLOSURE ( प्रकटीकरण)

:

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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगी कं पननयां अनुसंधान ररपोटा में शानमल कं पननयों के साथ कारोबार नहीं करती हैं और न ही ककसी भी तरह के उत्पादों / प्रनतभूनतयों के जारीकता​ा के साथ जुडी हैं, जो यह सुनननित करता है कक नहतों के नलए कोई वास्तनवक या संभानवत संघषा नहीं है | ननयामक ननकाय के अनुपालन को सुनननित करने के नलए हमने यह तय ककया है कक कं पनी और उसके कोई भी प्रनतनननध बाज़ार में ट्रेड नहीं करेंगे।

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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Copyright © 2018 Ways2Capital. All rights reserved

03/07/2018


Disclaimer ग्राहकों को यह सलाह दी जाती है कक वे ररपोटा में दी गई जानकारी को के वल राय के रूप में देखें और ननवेश के नलए स्वयं िंै सला करें | ग्राहकों को वेबसाइट पर प्रकानशत सेवाओं के ननयमों और शतों को पढ़ने और समझने की भी सलाह दी जाती है | कं पनी के ननगमन के बाद ननयामक ननकाय द्वाराकं पनी के नखलािं कोई मुकदमा (यानचका) दायर नहीं ककया गया है।

DISCLOSURE APPENDIX ( प्रकटीकरण पररनशष्ट ) : 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. ररपोटा नवश्लेषकों द्वारा तैयार की गयी है जो द्वारा हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड द्वारा ननयुक्त हैं | इस ररपोटा में व्यक्त सभी नवचार कं पनी के बारे में व्यनक्तगत नवचारों को दशा​ाता है और कं पननयों और उनकी प्रनतभूनतयां और क्षनतपू र्तत (मुआवजे) का कोई नहस्सा, या इस शोध ररपोटा में नननहत नवशेष सुझावों या नवचारों से प्रत्यक्ष या अप्रत्यक्ष रूप से संबंनधत नहीं होगा।

DISCLOSURE IN TERMS OF CONFLICT OF INTEREST (नहतों के संघषा के मामले में प्रकटीकरण ): (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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगी या उनके ककसी भी तत्काल ररश्तेदार की नवषय कं पनी में कोई नवत्तीय रुनच नहीं है और न ही इस तरह की नवत्तीय नहत की प्रकृ नत 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,

( ब) हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगी या उनके ककसी भी तत्काल ररश्तेदार की नवषय कं पनी की प्रनतभूनतयों में एक प्रनतशत या उससे अनधक के वास्तनवक / िंायदेमदं स्वानमत्व 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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोनगयों को अनुसंधान ररपोटा के प्रकाशन के समय या सावाजननक रूप से उपनस्थत होने के समय कोई अन्य भौनतक संघषा नहीं है|

DISCLOSURE IN TERMS OF COMPENSATION ( क्षनतपूर्तत के संदभा में प्रकटीकरण): 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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड की पॉनलसी अपने नवश्लेषकों, पेशेवरों को नवश्लेषक के क्षेत्र में ककसी भी कं पनी की प्रनतभूनतयों के स्वामी से नवश्लेषकों को ररपोटा करने से रोकती है। नवश्लेषक क्षनतपूर्तत : नवश्लेषक हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड के वेतन आधाररत स्थायी कमाचारी है |

DISCLOSURE IN TERMS OF PUBLIC APPEARANCE (सावाजननक प्रकटन के मामले में प्रकटीकरण ) : (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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगीयों ने नपिले 12 महीनों में नवषय कं पनी से कोई मुआवजा प्राप्त नहीं ककया 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 ररपोटा के नवतरण की नतनथ से पूवा बारह महीनों के दौरान नवषय कं पनी अब या कभी भी ग्राहक नहीं रही 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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटे ड या उसके सहयोगीयों ने नवषय कं पनी के अनधकारी, ननदेशक या कमाचारी के रूप में कभी भी काम

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Copyright © 2018 Ways2Capital. All rights reserved

03/07/2018


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