Equity Research Report 10 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 INDEX

CLOSING AS ON 06 JulyJ18

CURRENCY MARKET UPDATE

WEEKLY CHANGES

WEEKLY % CHANGE

CURRENCY PAIR

CURRENT CLOSING

PREVIOUS CLOSING

WEEKLY % CHANGE

Nifty

10772.65

58.35

0.54%

USDINR

69.0500

68.7250

0.47%

Nifty 100

11037.2

43.75

0.40%

GBPINR

91.4400

90.4325

1.11%

Nifty 200

5734.75

21.55

0.38%

EURINR

80.9900

80.2125

0.97%

Nifty 500

9194.5

32.05

0.35%

JPYINR

62.4700

61.8300

1.04%

Nifty VIX

12.44

-0.49

-3.83%

EURUSD

1.1767

1.1661

0.91%

Nifty Bank

26493.85

129.65

0.49%

GBPUSD

1.3276

1.3163

0.86%

Nifty Auto

11067.85

358.80

3.35%

Dollar Index

93.96

94.35

-0.41%

11024

16.95

0.15%

Nifty FMCG

29344.65

378.65

1.31%

Nifty IT

14015.95

26.45

0.19%

Nifty Media

2997.40

-28.30

-0.94%

Nifty Metal

3322.05

-118.10

Nifty Pharma

9189.90

Nifty PSU Banks Nifty PVT Bank

Nifty Finance

Nifty Realty 2

COMMODITY MARKET UPDATE COMMODITY

CURRENT CLOSING

PREVIOUS CLOSING

WEEKLY % CHANGE

Gold COMEX

1255.90

1251.30

0.37%

Gold MCX

30560

30432

0.42%

-3.43%

Crude Oil NYMEX

73.91

74.15

-0.32%

16.75

0.18%

Crude Oil MCX

5072

5086

-0.28%

2772.25

-19.25

-0.69%

Brent Oil NYMEX

77.13

79.44

-2.91%

15056.65

94.90

0.63%

Copper MCX

431.40

452.30

-4.62%

267.3

-4.25

-1.57%

Natural Gas NYMEX

2.854

2.924

-2.39%

Copyright © 2018 Ways2Capital. All rights reserved

10/07/2018


Market at a Glance WEEKLY GAINERS CLOSING PRICE

WEEKLY % CHANGE

52 WEEK HIGH

3023.35

7.55%

3472.6

9304.80

5.48%

10000

3651.55

5.17%

4200

Asian Paints

1322.80

4.64%

1335.6

Bajaj Fin serv

6056.15

4.08%

6290

SCRIP Bajaj Auto Maruti Su zuki Hero Moto Corp

WEEKLY LOSERS CLOSING PRICE

WEEKLY % CHANGE

52 WEEK LOW

Vedanta

219.50

-6.89%

216.05

NTPC Ltd.

150.25

-5.77%

149.45

Titan

830.95

-5.45%

522

Hindalco

219.35

-4.80%

194.3

Bharti Airtel

363.10

-4.70%

352.1

SCRIP

3

Copyright © 2018 Ways2Capital. All rights reserved

10/07/2018


Economic Calendar ECONOMIC EVENTS CALENDER TIME

CURRENY

EVENT

FORECAST

PREVIOUS

-

2.80%

Tuesday, July 10, 2018 4:31

GBP

BRC Retail Sales Monitor (YoY) (Jun)

7:00

CNY

CPI (MoM) (Jun)

-0.10%

-0.20%

7:00

CNY

CPI (YoY) (Jun)

1.90%

1.80%

7:00

CNY

PPI (YoY) (Jun)

4.50%

4.10%

14:00

GBP

Industrial Production (MoM) (May)

0.50%

-0.80%

14:00

GBP

Manufacturing Production (MoM) (May)

0.70%

-1.40%

Wednesday, July 11, 2018 16:50

USD

OPEC Monthly Report

-

-

18:00

USD

Core PPI (MoM) (Jun)

0.20%

0.30%

18:00

USD

PPI (MoM) (Jun)

0.20%

0.50%

20:00

USD

Crude Oil Inventories

-

-

Thursday, July 12, 2018 17:30

INR

CPI (YoY) (Jun)

5.29%

4.87%

18:00

USD

Core CPI (YoY) (Jun)

2.30%

2.20%

18:00

USD

Core CPI (MoM) (Jun)

0.20%

0.20%

18:00

USD

CPI (MoM) (Jun)

0.20%

0.20%

Friday, July 13, 2018

4

8:30

CNY

Exports (YoY) (Jun)

10.20%

12.60%

8:30

CNY

Imports (YoY) (Jun)

22.00%

26.00%

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10/07/2018


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

5

R4

R3

R2

R1

PP

S1

S2

S3

S4

ASIANPAINT

1518.35

1443.95

1369.55

1329.30

1295.13

1254.85

1220.70

1146.30

1071.90

AXISBANK

563.35

546.45

529.55

522.30

512.65

505.40

495.75

478.85

461.95

BAJAJ-AUTO

3750.45

3487.20

3223.95

3106.40

2960.68

2843.10

2697.40

2434.15

2170.90

BAJAJFINSV

7210.00

6800.60

6391.20

6213.10

5981.77

5803.65

5572.35

5162.95

4753.55

BAJFINANCE

2542.50

2468.60

2394.70

2360.50

2320.80

2286.60

2246.90

2173.00

2099.10

BHARTIARTL

434.60

412.85

391.10

379.05

369.35

357.30

347.60

325.85

304.10

BPCL

423.40

406.10

388.80

378.90

371.50

361.60

354.20

336.90

319.60

CIPLA

747.80

707.85

667.90

647.85

627.93

607.85

587.95

548.00

508.05

COALINDIA

304.75

291.40

278.05

270.80

264.68

257.40

251.30

237.95

224.60

DRREDDY

2729.10

2582.65

2436.20

2377.20

2289.72

2230.70

2143.25

1996.80

1850.35

EICHERMOT

32065.75

30760.10

29454.45

28822.25

28148.78

27516.55

26843.10

25537.45

24231.80

GAIL

410.10

388.35

366.60

357.05

344.85

335.30

323.10

301.35

279.60

GRASIM

1143.20

1087.25

1031.30

998.65

975.35

942.70

919.40

863.45

807.50

HCLTECH

1028.40

996.00

963.60

945.20

931.17

912.75

898.75

866.35

833.95

HDFC

2103.25

2039.50

1975.75

1949.30

1911.97

1885.50

1848.20

1784.45

1720.70 Continued .......

Copyright © 2018 Ways2Capital. All rights reserved

10/07/2018


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

6

R4

R3

R2

R1

PP

S1

S2

S3

S4

HDFCBANK

2316.80

2244.50

2172.20

2136.55

2099.90

2064.25

2027.60

1955.30

1883.00

HEROMOTOCO

4317.35

4049.65

3781.95

3626.20

3514.23

3358.45

3246.50

2978.80

2711.10

HINDALCO

272.90

256.35

239.80

231.90

223.22

215.30

206.65

190.10

173.55

HINDPETRO

321.95

300.70

279.45

265.80

258.20

244.55

236.95

215.70

194.45

HINDUNILVR

1884.40

1811.80

1739.20

1708.10

1666.57

1635.45

1593.95

1521.35

1448.75

IBULHSGFIN

1292.40

1239.75

1187.10

1161.80

1134.42

1109.10

1081.75

1029.10

976.45

ICICIBANK

311.95

299.10

286.25

279.75

273.40

266.90

260.55

247.70

234.85

INDUSINDBK

2153.85

2091.35

2028.85

2004.20

1966.35

1941.70

1903.85

1841.35

1778.85

INFRATEL

352.00

333.50

315.00

306.35

296.47

287.80

277.95

259.45

240.95

INFY

1594.20

1504.40

1414.60

1381.50

1324.80

1291.70

1235.00

1145.20

1055.40

IOC

178.85

171.15

163.45

159.30

155.73

151.55

148.00

140.30

132.60

ITC

310.50

295.80

281.10

272.70

266.37

257.95

251.65

236.95

222.25

KOTAKBANK

1506.70

1456.75

1406.80

1386.05

1356.82

1336.05

1306.85

1256.90

1206.95

LT

1366.20

1330.85

1295.50

1277.35

1260.12

1241.95

1224.75

1189.40

1154.05

LUPIN

1117.35

1052.15

986.95

962.50

921.73

897.25

856.50

791.30

726.10

M&M

1047.60

999.25

950.90

926.40

902.52

878.00

854.15

805.80

757.45 Continued .......

Copyright © 2018 Ways2Capital. All rights reserved

10/07/2018


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

R4

R3

R1

PP

S1

S2

S3

S4

11121.50

10457.55

9793.60

9509.30

9129.63

8845.30

8465.65

7801.70

7137.75

NTPC

181.75

172.45

163.15

157.85

153.85

148.55

144.55

135.25

125.95

ONGC

181.35

173.25

165.15

160.60

157.03

152.45

148.90

140.80

132.70

POWERGRID

210.45

201.75

193.05

188.15

184.35

179.45

175.65

166.95

158.25

RELIANCE

1139.70

1088.30

1036.90

1013.95

985.47

962.50

934.05

882.65

831.25

SBIN

281.00

273.25

265.50

261.45

257.72

253.65

249.95

242.20

234.45

SUNPHARMA

675.50

641.65

607.80

592.90

573.93

559.00

540.05

506.20

472.35

TATAMOTORS

335.75

312.25

288.75

277.95

265.23

254.40

241.70

218.20

194.70

TATASTEEL

688.40

648.25

608.10

589.55

567.95

549.40

527.80

487.65

447.50

TCS

2116.10

2036.20

1956.30

1911.65

1876.37

1831.70

1796.45

1716.55

1636.65

TECHM

761.85

725.35

688.85

671.70

652.33

635.15

615.80

579.30

542.80

TITAN

1150.90

1057.00

963.10

925.40

869.18

831.45

775.25

681.35

587.45

ULTRACEMCO

4643.40

4375.75

4108.10

3950.55

3840.45

3682.90

3572.80

3305.15

3037.50

UPL

683.45

663.65

643.85

633.85

624.02

614.00

604.20

584.40

564.60

VEDL

311.20

283.95

256.70

242.35

229.45

215.10

202.20

174.95

147.70

WIPRO

281.75

275.05

268.35

265.20

261.63

258.45

254.90

248.20

241.50

YESBANK

417.95

392.60

367.25

351.45

341.88

326.05

316.50

291.15

265.80

ZEEL

607.30

585.85

564.40

553.70

542.92

532.20

521.45

500.00

478.55

MARUTI

7

R2

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10/07/2018


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 %)

JUSTDIAL

32.21%

2.69%

MUTHOOTFIN

-17.62%

6.55%

BERGEPAINT

24.56%

5.65%

VGUARD

-14.08%

2.86%

KOTAKBANK

13.26%

2.15%

IOC

-11.78%

2.11%

TATAELXSI

11.93%

2.46%

MARUTI

-11.61%

5.32%

CGPOWER

11.72%

7.03%

ENGINERSIN

-11.20%

4.22%

SCRIP

SCRIP

LONG UNWINDING

SHORT BUILD-UP

CHANGE IN OI (In %)

PRICE CHANGE (In %)

-

-

-

-5.11%

-

-

-

31.40%

-5.08%

-

-

-

Analysis : As per the analysis of above

NBCC

22.48%

-9.18%

-

-

-

DABUR

22.39%

-3.83%

-

-

-

chart. Major Resistance Level: 11000 Major Support Levels: 10600

CHANGE IN OI (In %)

PRICE CHANGE (In %)

SRTRANSFIN

59.44%

-14.43%

OFSS

37.61%

GODREJIND

SCRIP

8

SCRIP

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10/07/2018


Nifty Analysis Fundamental Outlook

NIFTY WEEKLY PIVOTS

Equity benchmark Nifty ended its 2 weeks losing streaks as it closed on positive note last week. All global markets

PARTICULAR

LEVEL

R4

11395.15

R3

11173.45

R2

10951.75

for the past week.

R1

10865.10

Technical Outlook

PP

10730.05

S1

10643.40

S2

10508.35

S3

10286.65

S4

10064.95

were remained mixed during the last week as most of the Asian markets were under pressure while American and European market showed some strength. In last couple of weeks, Fridays have been the real savior for our markets. Last Friday, it managed to recover from some midweek hiccups and on Friday, there was a decent attempt made to surpass the 10800 mark. On the Economic front USD/INR again showed its strength as it continued it bullishness whole week . Crude oil price also remained bullish for whole week. Nifty P/E ratio was in the range of 25.76 to 26.62

Nifty future started the last week on negative note on Monday but it started positive run from Tuesday and continued till last session of the week, which led index to close on positive note on weekly basis. From past few weeks index is trading in a narrow range. On weekly charts it has made a trading range of 10550 to 10870 due to which it is lacking for a clear direction. For a decisive breakout to happen, it has to close above 10870 and on the downside 10550 is a crucial support. on the weekly scale, index formed an inside bar and a Hammer candle but at the same time it is forming lower highs from last three weeks.

Continued ‌.... 9

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10/07/2018


Nifty Analysis WEEKLY STRATEGY

On the options front, maximum Put OI is placed at 10,600 followed by 10,700 strikes while the maximum Call OI is placed at 10,800 followed by 11,000 strikes. Option bank signifies an immediate trading range in between 10660 to 10835 zones.

PARTICULAR ACTION ENTRY PRICE

DETAILS BUY ABOVE 10820

TARGET

10950

STOP LOSS

10720

TECHNICAL INDICATOR ANALYSIS

For this week, traders can adopt buy on lower level strategy in it and above the level of 10820. It can test the level of Rs. 10950 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 10720.

INDICATOR

CURRENT TREND

20 Days EMA

POSITIVE

50 Days EMA

POSITIVE

200 Days EMA

POSITIVE

RSI

POSITIVE

MACD

POSITIVE

STOCHASTIC

POSITIVE Continued …....

10

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10/07/2018


Bank Nifty Analysis Nifty Bank fut started the last week on negative note on Monday but soon good buying was seen in the index from lower levels due to which, it gave closing on positive note on weekly basis. Bank Nifty has got stuck in the range from 26,065 to 27,059 zones for the last 4 weeks and requires a decisive range breakout to commence the next leg of the rally. Bank Nifty formed a high wave Long Legged Doji candle on the daily scale and finally closed near to 26500 zones. It has to continue to

WEEKLY STRATEGY PARTICULAR ACTION

DETAILS BUY

hold above 26500 zones to witness an up move towards 26750 zones. Important support us placed at 26300 and 26000 lev-

ENTRY PRICE

ABOVE 26600

els.

TARGET

26900

STOP LOSS

26400

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

27979.20

R3

27448.55

R2

26917.90

R1

26709.15

PP

26387.25

S1

26178.50

For this week, traders can adopt buy on lower level strategy in it and above the level of 26600. It can test the

S2

25856.60

level of Rs. 26900 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 26400.

S3

25325.95

S4

24795.30

11

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10/07/2018


SUN TV CASH ( Call of the Week ) Technical Outlook

WEEKLY STRATEGY

Overall trend of the Stock is bullish for long term . For short-medium term stock was in some correction

PARTICULAR

phase . Last week stock started on negative note and it continued its bearish run till last trading of the week

ACTION

where it showed good buying from lower levels. On daily chart it has form a Bullish Engulfing on lower levels

ENTRY PRICE

and looking positive for coming week. In intraday charts it showed a good positive move.

DETAILS BUY ABOVE 812

TARGET

848.00

STOP LOSS

788.00

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

919.45

R3

875.35

R2

831.25

R1

812.65

PP

787.15

S1

768.55

S2

743.05

For this week, traders can adopt buy on lower level strategy in it and above the level of 812 it can test the level

S3

698.95

of Rs. 848 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 788

S4

654.85

12

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10/07/2018


BHARAT FORGE ( Call of the Week ) Technical Outlook Overall trend of the Stock is bullish for long term . For short-medium term stock was in some correction phase. Last week stock started on negative note but from lower levels good buying was seen throughout the week.

WEEKLY STRATEGY PARTICULAR ACTION

DETAILS BUY

Stock has gave breakout of its upward trend line on daily chart and trading above its major resistance levels of 650. If it manages to trade above this levels than further upside can be seen in it.

ENTRY PRICE

ABOVE 650

TARGET

675.50

STOP LOSS

637.80

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

740.40

R3

702.45

R2

664.50

R1

648.45

PP

626.55

S1

610.50

S2

588.60

For this week, traders can adopt buy on lower level strategy in it and above the level of 650 it can test the level

S3

550.65

of Rs. 675.50 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 637.80

S4

512.70

13

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10/07/2018


BHARATFORG FUTURES ( Call of the Week ) Technical Outlook

WEEKLY STRATEGY

Overall trend of the Stock is bullish for long term . For short-medium term stock was in some correction phase. Last week stock started on negative note but from lower levels good buying was seen throughout the week. Stock has gave breakout of its upward trend line on daily chart and trading above its major resistance levels of 650. If it manages to trade above this levels than further upside can be seen in it.

PARTICULAR ACTION ENTRY PRICE

DETAILS BUY ABOVE 651

TARGET

671.00

STOP LOSS

644.00

WEEKLY PIVOTS PARTICULAR

For this week, traders can adopt buy on lower level strategy in it and above the level of 651 it can test the level of Rs. 671 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 644. 14

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LEVEL

R4

743.45

R3

704.75

R2

666.05

R1

649.60

PP

627.35

S1

610.90

S2

588.65

S3

549.95

S4

511.25 10/07/2018


ARVIND FUTURES ( Call of the Week ) Technical Outlook ARVIND is looking bullish on long term charts. Last week stock started on negative but it showed a good buying from lower levels on other trading sessions of the week. On daily chart stock is about to give breakout of its

WEEKLY STRATEGY PERTICULAR ACTION

DETAILS BUY

consolidation phase. On intraday chart stock has showed good positive movement. If it manages to sustain above 400 levels than further buying can be seen in it.

ENTRY PRICE

ABOVE 401

TARGET

411.00

STOP LOSS

397.00

WEEKLY PIVOTS PARTICULAR

LEVEL

R4

445.80

R3

428.80

R2

411.80

R1

404.15

PP

394.8

S1

387.15

For this week, traders can adopt buy on lower level strategy in it and above the level of 401 it can test the

S2

377.80

level of Rs. 411 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 397.

S3

360.80

S4

343.80

15

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10/07/2018


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

10/07/2018


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

10/07/2018


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