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 Market Wrap–Up

MAJOR INDICES CURRENCY MARKET UPDATE

CLOSING WEEKLY CURRENT PREVIOUS WEEKLY
INDEX WEEKLY CHANGES CURRENCY PAIR
AS ON 28th DEC 18 % CHANGE CLOSING CLOSING % CHANGE
Nifty 10859.90 54.45 0.50% USDINR 70.1600 70.1550 0.01%
Nifty Bank 27125.25 299.25 1.12% GBPINR 89.1350 88.9350 0.22%
Nifty IT 14385.80 -465.60 -3.14% EURINR 80.6750 80.1925 0.60%
Nifty Pharma 8814.20 87.80 1.01% JPYINR 63.7175 63.1725 0.86%
Nifty Finance 11586.25 258.65 2.28% EURUSD 1.1480 1.1422 0.51%
Nifty VIX 15.27 0.11 0.73% GBPUSD 1.2687 1.2667 0.16%
Nifty 500 9152.55 61.25 0.67% Dollar Index 95.92 96.48 -0.58%
Nifty 100 11101.65 61.35 0.56% COMMODITY MARKET UPDATE
Nifty FMCG 30544.00 172.50 0.57% CURRENT PREVIOUS WEEKLY
COMMODITY
CLOSING CLOSING % CHANGE
Nifty Energy 14369.80 297.75 2.12%
Gold COMEX 1283.30 1258.95 1.93%
Nifty Realty 233.20 -4.00 -1.69%
Gold MCX 31766 31815 -0.15%
Nifty PSU Banks 3079.90 100.25 3.36%
Crude Oil NYMEX 45.12 45.41 -0.64%
Nifty Auto 9223.80 -47.70 -0.51% Crude Oil MCX 3185 3236 -1.58%
Nifty Metal 3112.20 -0.15 0.00% Brent Oil NYMEX 53.03 53.50 -0.88%
Nifty 200 5748.30 35.70 0.62% Copper MCX 417.30 417.35 -0.01%
Nifty Media 2556.15 -6.40 -0.25% Natural Gas NYMEX 3.304 3.692 -10.51%

2 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 Market at a Glance

WEEKLY GAINERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE HIGH
ADANI-
386.30 7.54% 451.55
PORTS
ZEEL 473.20 5.79% 619.35

IBULHSGFIN 848.75 3.92% 1439.40

WIPRO 331.05 3.63% 344.00

GAIL 357.55 3.49% 398.80

WEEKLY LOSERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE LOW
HEROMO-
3130.20 -5.72% 2648.70
TOCO
COALINDIA 242.35 -3.71% 228.50

JSWSTEEL 297.80 -3.45% 261.70

BPCL 362.35 -3.31% 239.00

BAJAJAUTO 2723.30 -3.14% 2425.00

3 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 Economic Calendar
ECONOMIC EVENTS CALENDER
TIME CURRENY EVENT FORECAST PREVIOUS
Monday, December 31, 2018
All Day USD United Kingdom - New Year's Eve - Early close at 12:30 Holiday
6:30 CNY Manufacturing PMI (Dec) 49.9 50
Tuesday, January 1, 2019
All Day USD United States - New Year's Day Holiday
All Day GBP United Kingdom - New Year's Day Holiday
All Day CNY China - New Year Holiday
Wednesday, January 2, 2019
7:15 CNY Caixin Manufacturing PMI (Dec) 50.1 50.2
15:00 GBP Manufacturing PMI (Dec) 52.5 53.1
Thursday, January 3, 2019
15:00 GBP Construction PMI (Dec) 52.9 53.4
18:45 USD ADP Nonfarm Employment Change (Dec) 180K 179K
20:30 USD ISM Manufacturing PMI (Dec) 58 59.3
Tentative USD New Home Sales (Nov) 1K 1K
Friday, January 4, 2019
15:00 GBP Services PMI (Dec) 50.7 50.4
19:00 USD Nonfarm Payrolls (Dec) 180K 155K
19:00 USD Unemployment Rate (Dec) 3.70% 3.70%
20:45 USD Fed Chair Powell Speaks -
21:30 USD Crude Oil Inventories -

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 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

ADANIPORTS 478.25 445.00 411.75 399.50 378.48 366.20 345.20 311.95 278.70
ASIANPAINT 1491.80 1450.25 1408.70 1386.85 1367.12 1345.25 1325.55 1284.00 1242.45
AXISBANK 692.75 668.20 643.65 634.75 619.08 610.15 594.50 569.95 545.40
BAJAJ-AUTO 3229.00 3066.30 2903.60 2811.80 2740.90 2649.10 2578.20 2415.50 2252.80
BAJAJFINSV 7607.35 7207.35 6807.35 6664.70 6407.33 6264.65 6007.30 5607.30 5207.30
BAJFINANCE 3016.50 2876.40 2736.30 2688.65 2596.17 2548.50 2456.05 2315.95 2175.85
BHARTIARTL 377.45 356.35 335.25 325.70 314.13 304.55 293.00 271.90 250.80
BPCL 429.00 407.40 385.80 373.50 364.20 351.90 342.60 321.00 299.40
CIPLA 572.40 554.35 536.30 529.15 518.22 511.05 500.15 482.10 464.05
COALINDIA 288.10 273.85 259.60 250.95 245.35 236.70 231.10 216.85 202.60
DRREDDY 2823.80 2754.00 2684.20 2653.55 2614.37 2583.70 2544.55 2474.75 2404.95
EICHERMOT 25756.70 24881.70 24006.70 23563.35 23131.67 22688.30 22256.65 21381.65 20506.65
GAIL 423.90 400.25 376.60 366.05 352.95 342.40 329.30 305.65 282.00
GRASIM 916.95 883.40 849.85 837.50 816.28 803.90 782.70 749.15 715.60
HCLTECH 1048.35 1016.35 984.35 973.70 952.33 941.65 920.30 888.30 856.30
HDFC 2270.85 2164.05 2057.25 2017.70 1950.45 1910.90 1843.65 1736.85 1630.05

Continued .......

5 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

HDFCBANK 2318.00 2248.80 2179.60 2151.80 2110.40 2082.60 2041.20 1972.00 1902.80
HEROMOTOCO 3749.15 3558.90 3368.65 3246.05 3178.40 3055.80 2988.15 2797.90 2607.65
HINDALCO 260.35 247.20 234.05 228.85 220.87 215.65 207.70 194.55 181.40
HINDPETRO 297.80 282.35 266.90 261.35 251.45 245.90 236.00 220.55 205.10
HINDUNILVR 2079.70 1986.05 1892.40 1856.20 1798.72 1762.50 1705.05 1611.40 1517.75
IBULHSGFIN 1035.85 967.85 899.85 873.70 831.83 805.65 763.80 695.80 627.80
ICICIBANK 401.15 386.50 371.85 366.20 357.17 351.50 342.50 327.85 313.20
INDUSINDBK 1809.70 1729.50 1649.30 1617.90 1569.10 1537.70 1488.90 1408.70 1328.50
INFRATEL 308.75 293.60 278.45 270.55 263.27 255.35 248.10 232.95 217.80
INFY 730.80 704.65 678.50 667.30 652.32 641.10 626.15 600.00 573.85
IOC 166.40 156.50 146.60 142.40 136.70 132.50 126.80 116.90 107.00
ITC 307.90 298.70 289.50 285.75 280.27 276.50 271.05 261.85 252.65
KOTAKBANK 359.40 339.00 318.60 308.30 298.20 287.90 277.80 257.40 237.00
LT 1380.75 1332.60 1284.45 1262.05 1236.27 1213.85 1188.10 1139.95 1091.80
LUPIN 1615.20 1551.50 1487.80 1463.90 1424.10 1400.20 1360.40 1296.70 1233.00
M&M 899.30 864.30 829.30 816.55 794.27 781.50 759.25 724.25 689.25
Continued .......
6 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018
 Weekly Pivots
NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
MARUTI 8330.20 8063.35 7796.50 7657.25 7529.62 7390.35 7262.75 6995.90 6729.05
NTPC 170.75 163.35 155.95 152.90 148.53 145.45 141.10 133.70 126.30
ONGC 166.55 160.80 155.05 152.85 149.28 147.05 143.50 137.75 132.00
POWERGRID 220.15 212.00 203.85 200.05 195.70 191.90 187.55 179.40 171.25
RELIANCE 1317.65 1248.05 1178.45 1152.05 1108.85 1082.45 1039.25 969.65 900.05
SBIN 324.45 314.00 303.55 299.00 293.07 288.50 282.60 272.15 261.70
SUNPHARMA 495.00 471.00 447.00 436.00 423.00 412.00 399.00 375.00 351.00
TATAMOTORS 203.05 192.80 182.55 177.00 172.28 166.70 162.00 151.75 141.50
TATASTEEL 561.40 545.10 528.80 520.60 512.48 504.25 496.15 479.85 463.55
TCS 2117.35 2045.90 1974.45 1935.75 1902.98 1864.25 1831.50 1760.05 1688.60
TECHM 803.00 770.60 738.20 725.60 705.80 693.20 673.40 641.00 608.60
TITAN 1078.70 1021.15 963.60 943.90 906.03 886.30 848.45 790.90 733.35
ULTRACEMCO 4455.90 4290.95 4126.00 4065.00 3961.02 3900.00 3796.05 3631.10 3466.15
UPL 900.00 850.00 800.00 779.00 750.00 729.00 700.00 650.00 600.00
VEDL 226.00 216.80 207.60 203.75 198.40 194.55 189.20 180.00 170.80
WIPRO 367.80 354.25 340.70 334.90 327.12 321.30 313.55 300.00 286.45
YESBANK 214.25 203.00 191.75 186.70 180.47 175.40 169.20 157.95 146.70
ZEEL 603.70 556.30 508.90 491.70 461.50 444.30 414.10 366.70 319.30

7 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 Open Interest & Price Analysis

LONG BUILD-UP SHORT COVERING NIFTY OPTIONS OPEN INTEREST ANALYSIS

CHANGE IN PRICE CHANGE CHANGE IN PRICE CHANGE

SCRIP SCRIP
OI (In %) (In %) OI (In %) (In %)

AJANTPHARM 14.32% 5.09% SRF 19.08% -7.03%

PCJEWELLER 10.24% 7.23% JUBLFOOD 15.87% -4.96%

- - - - - -

- - - - - -

- - - - - -

SHORT BUILD-UP LONG UNWINDING

CHANGE IN PRICE CHANGE CHANGE IN PRICE CHANGE
SCRIP SCRIP
OI (In %) (In %) OI (In %) (In %)

GAIL -47.23% 3.61% BPCL -45.17% -2.40%

CONCOR -45.19% 2.13% VOLTAS -40.46% -2.27%

IBULHSGFIN -36.36% 4.29% ONGC -20.40% -2.22%

Analysis : As per the analysis of above chart.
Major Resistance Level: 11000
MUTHOOTFIN -35.68% 4.13% NTPC -17.33% -2.11%
Major Support Levels: 10500 followed 10000
RBLBANK -32.43% 2.58% KPIT -15.59% -2.30%

8 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 Nifty Analysis

Fundamental Outlook
NIFTY WEEKLY PIVOTS
After a weak start for a truncated week, the Indian indices recovered from the lows and ended with a percent gain. The Nifty PARTICULAR LEVEL
was up 0.98 percent, or 105.9 points, to close at 10,859.9. Positive lead from Wall Street and rally in banking & financial stocks
lifted investor sentiment. Ending the week with a Hammer candle implies further strength in the index in coming sessions. The R4 12025.50

Nifty PSU Bank index has outperformed other sectoral indices with a gain of 3.65 percent during the week. Reliance Industries
R3 11615.90
(RIL) gained the most in terms of market value, followed by ITC, Adani Ports and HDFC. On a weekly basis, the rupee appreci-
ated 1.70 percent (Rs 1.21) against the dollar as it ended at 69.94 on December 29 against December 21, closing of 71.15
R2 11206.30
against the dollar. Indian macroeconomic outlook majorly depends on how crude prices move. Last Week once again crude
started falling resulting Indian equity market too gradually started inching up. Going forward, crude prices are expected to re- R1 11057.00
main sideways. Crude oil gave the weekly closing at 3183 , 53 points down from last week's closing of 3236.
PP 10796.70

S1 10647.40
Technical Outlook

S2 10387.10
The Nifty Futures started off January series on a strong note with the index closing above 10,900 levels amid thin trade, ex-
tending gains for third consecutive session on Friday. The index formed bullish candle on the daily charts and 'Hammer' kind of S3 9977.50

pattern on the weekly scale. It closed a percent higher during the week. After the sharp run in last three sessions
S4 9567.90

Continued …....

9 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 Nifty Analysis
the market is expected to consolidate in coming session, but if its up move continues then the it could move towards its
psychological 11,000 levels. Now till the index holds above 10,850-10,800 levels it can extend it move towards crucial hurdle WEEKLY STRATEGY
of 11,006 levels while on the downside support exists at 10,850 levels. On the option front, maximum Call open interest (OI) PARTICULAR DETAILS
was at 11,200 followed by 11,000 strike while maximum Put OI was at 10,500 followed by 10,000 strikes.
ACTION BUY

ENTRY PRICE ABOVE 10950

TARGET 11090

STOP LOSS 10849

TECHNICAL INDICATOR
ANALYSIS
CURRENT
INDICATOR
TREND

20 Days EMA POSITIVE

50 Days EMA POSITIVE

200 Days EMA POSITIVE

RSI POSITIVE

MACD POSITIVE
For this week, traders can adopt buy on lower level strategy in it and above the level of 10,950. It can test the level of Rs.
11,090 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 10,849. STOCHASTIC POSITIVE
…....

10 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 Bank Nifty Analysis
Technical Outlook WEEKLY STRATEGY
The Nifty Bank index started the last week on negative note on Monday but it recovered all its previous day's in loss in next PARTICULAR DETAILS
trading session and showed strong positivity throughout the week. It formed an Inside Bar on daily scale and Hammer can-
ACTION BUY
dle on weekly scale which suggests buying is visible at lower levels. The index closed at 27,290, higher by 347.80 points from
ENTRY PRICE ABOVE 27430
previous week's close. Now till it holds above 27,000 levels it can extend its move towards 27,550 then 27,700 levels while
on the downside major support is placed at 26,860. TARGET 27830

STOP LOSS 27170

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 28123.40

R3 27824.45

R2 27525.50

R1 27402.05

PP 27226.55

S1 27103.10
For this week, traders can adopt buy on lower level strategy in it and above the level of 27,430. It can test the level of Rs.
S2 26927.60
27,830 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 27,170.
S3 26628.65

S4 26329.70

11 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 GSFC CASH( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Overall trend of the Stock is sideways for long term . For short term stock is in bullish phase. Last week stock started on
PARTICULAR DETAILS
negative note and showed good buying from lower levels throughout the week. On daily chart stock has gave breakout
of its major trend line. If it manages to trade above 116 levels than further upside move can be seen in it. In intraday it ACTION BUY

showed a good positive move. ENTRY PRICE Above 116.00

TARGET 119.80

STOP LOSS 113.70

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 130.10
R3 123.70

R2 117.30

R1 115.00

PP 110.90

S1 108.60

S2 104.50
For this week, traders can adopt buy on lower level strategy in it and above the level of 116 it can test the level of Rs.
S3 98.10
119.80 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 113.70.
S4 91.70

12 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 KAJARIACER CASH ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Overall trend of the Stock is sideways for long term . For short term stock is in bullish phase. Last week, it started on PARTICULAR DETAILS
negative and consolidated near its major resistance levels throughout the week. On daily chart stock has gave breakout ACTION BUY
of its major resistance levels of 495. In intraday stock has showed god buying. If it manages to sustain above the levels of
ENTRY PRICE ABOVE 498.00
498 than further upside move can be seen in it.
TARGET 514.00

STOP LOSS 489.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 553.35

R3 530.20

R2 507.05

R1 496.05

PP 483.9

S1 472.90

S2 460.75
For this week, traders can adopt buy on lower level strategy in it and above the level of 498 it can test the level of Rs. 514 S3 437.60
during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.489.
S4 414.45

13 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 HEROMOTOCOP FUTURES( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Last week, HEROMOTOCO Jan Futures started the week on negative note and continued the same for the entire week. It
PARTICULAR DETAILS
made a low of 3120.40 during the week and closed at 3141.25 with the overall loss of 5.50% on weekly basis. Technically
ACTION SELL
it’s in the downtrend and on weekly chart, it made reversal spinning top pattern. It had also given breakout of 38.20%
Fibonacci Retracement which is indicating bearish movement in it for the short term. ENTRY PRICE ABOVE 3120.00

TARGET 3071.00

STOP LOSS 3155.25

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 3689.75
R3 3522.75
R2 3355.75
R1 3248.50
PP 3188.75
S1 3081.50
S2 3021.75
S3 2854.75
For this week, traders can adopt selling on the basis of trend line breakout strategy in it and below the level of 3120 it can
S4 2687.75
test the level of 3071 during the week. Trades can make sell position in it by maintaining a Stop Loss of 3155.25

14 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 COLPAL FUTURES ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Last week, COLPAL Jan Futures started the week on negative note but after that, it consolidated on for the remaining part
PARTICULAR DETAILS
of the week. It made a low of 1294.80 during the week and closed at 1324.40 with the marginal loss of 0.50% on weekly
ACTION BUY
basis. Technically it’s consolidating near to 52 week High and for this week, we can expect upside breakout in it.
ENTRY PRICE ABOVE 1342.00

TARGET 1359.00

STOP LOSS 1332.80

WEEKLY PIVOTS
PARTICULAR LEVEL
R4 1426.15

R3 1389.45

R2 1352.75

R1 1338.55

PP 1316.05

S1 1301.85

S2 1279.35
For this week, traders can adopt buying from 52 week high breakout strategy in it and above the level of 1342 it can test
S3 1242.65
the level of 1359 during the week. Trades can make buy position in it by maintaining a Stop Loss of 1332.80.
S4 1205.95

15 Copyright © 2018 Ways2Capital. All rights reserved 31/12/2018

 Disclaimer

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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 जारीकताा 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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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 दशााता 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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