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 Market Wrap–Up

MAJOR INDICES CURRENCY MARKET UPDATE

CLOSING WEEKLY CURRENT PREVIOUS WEEKLY
INDEX WEEKLY CHANGES CURRENCY PAIR
AS ON 18th JAN 19 % CHANGE CLOSING CLOSING % CHANGE
Nifty 10906.95 30.20 0.28% USDINR 71.2350 70.6000 0.90%
Nifty 100 11109.50 17.25 0.16% GBPINR 92.2775 90.3950 2.08%
Nifty 200 5741.35 8.45 0.15% EURINR 81.2975 81.4625 -0.20%
Nifty 500 9140.10 30.95 0.34% JPYINR 65.2700 65.1400 0.20%
India VIX 16.62 -2.54 -13.26% EURUSD 1.1410 1.1412 -0.02%
Nifty Bank 27456.70 593.75 2.21% GBPUSD 1.2900 1.2661 1.89%
Nifty Auto 8844.80 -425.40 -4.59% Dollar Index 95.99 95.26 0.77%
Nifty Finance 11678.25 239.45 2.09% COMMODITY MARKET UPDATE
Nifty FMCG 30540.35 414.10 1.37% CURRENT PREVIOUS WEEKLY
COMMODITY
CLOSING CLOSING % CHANGE
Nifty IT 14892.95 254.90 1.74%
Gold COMEX 1282.60 1289.50 -0.54%
Nifty Media 2389.60 -160.25 -6.28% Gold MCX 32091 31448 2.04%
Nifty Metal 2957.10 -206.65 -6.53% Crude Oil NYMEX 53.80 51.59 4.28%
Nifty Pharma 8689.60 -586.10 -6.32% Crude Oil MCX 3817 3632 5.09%
Nifty PSU Banks 3083.95 168.75 5.79% Brent Oil NYMEX 62.65 62.73 -0.13%
Nifty PVT Bank 15505.80 351.35 2.32% Copper MCX 429.35 415.90 3.23%
Nifty Realty 238.30 6.30 2.72% Natural Gas NYMEX 3.482 3.099 12.36%

2 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 Market at a Glance

WEEKLY GAINERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE HIGH
Reliance
198.25 7.70% 404.00
Inds.
YES Bank
1182.95 7.75% 1328.75
Ltd.
Infosys 731.00 6.92% 754.95
Adani Ports
399.55 5.98% 451.55
& Speci
Wipro Ltd 346.20 5.52% 348.45

WEEKLY LOSERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE LOW

Sun Pharma 390.75 -11.83% 375.40

Bharti Airtel 310.95 -6.92% 277.00

GAIL (India) 323.15 -4.70% 296.00

L&T 1318.25 -3.79% 1183.40

SBI 295.20 -2.73% 232.00

3 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 Economic Calendar
ECONOMIC EVENTS CALENDER
TIME CURRENY EVENT FORECAST PREVIOUS

Monday, January 21, 2019

All Day USD United States - Martin Luther King, Jr. Day Holiday

7:30 CNY GDP (YoY) (Q4) 6.40% 6.50%

Tentative CNY Industrial Production (YoY) (Dec) 5.30% 5.40%

Tuesday, January 22, 2019

15:00 GBP Average Earnings Index +Bonus (Nov) 3.30% 3.30%

15:00 GBP Claimant Count Change (Dec) 20.0K 21.9K

20:30 USD Existing Home Sales (Dec) 5.24M 5.32M

Thursday, January 24, 2019

19:00 USD Initial Jobless Claims 218K 213K

20:15 USD Manufacturing PMI (Jan) 53.5 53.8

21:30 USD Crude Oil Inventories - -2.683M

Friday, January 25, 2019

19:00 USD Core Durable Goods Orders (MoM) (Dec) 0.20% 0.40%

Tentative USD New Home Sales 569K 544K

4 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

ADANIPORTS 473.20 445.65 418.10 408.70 390.55 381.15 363.00 335.45 307.90
ASIANPAINT 1493.65 1462.20 1430.75 1415.60 1399.30 1384.15 1367.85 1336.40 1304.95
AXISBANK 748.10 720.65 693.20 678.90 665.72 651.40 638.25 610.80 583.35
BAJAJ-AUTO 2927.05 2856.30 2785.55 2753.15 2714.80 2682.40 2644.05 2573.30 2502.55
BAJAJFINSV 7253.30 6948.30 6643.30 6446.60 6338.30 6141.60 6033.30 5728.30 5423.30
BAJFINANCE 2933.25 2804.40 2675.55 2609.25 2546.68 2480.35 2417.80 2288.95 2160.10
BHARTIARTL 443.10 402.15 361.20 336.20 320.23 295.20 279.25 238.30 197.35
BPCL 426.30 400.15 374.00 364.10 347.82 337.90 321.65 295.50 269.35
CIPLA 541.40 531.05 520.70 515.05 510.32 504.65 499.95 489.60 479.25
COALINDIA 244.55 240.00 235.45 232.75 230.88 228.15 226.30 221.75 217.20
DRREDDY 2816.80 2742.45 2668.10 2632.45 2593.72 2558.05 2519.35 2445.00 2370.65
EICHERMOT 23000.10 22102.35 21204.60 20663.70 20306.83 19765.90 19409.05 18511.30 17613.55
GAIL 380.40 362.60 344.80 333.50 326.98 315.65 309.15 291.35 273.55
GRASIM 939.30 900.55 861.80 843.40 823.03 804.60 784.25 745.50 706.75
HCLTECH 1076.60 1035.85 995.10 980.70 954.35 939.95 913.60 872.85 832.10
HDFC 2178.70 2115.70 2052.70 2029.80 1989.68 1966.75 1926.65 1863.65 1800.65
Continued .......

5 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

HDFCBANK 2244.25 2203.70 2163.15 2146.70 2122.57 2106.10 2082.00 2041.45 2000.90
HEROMOTOCO 3139.80 3058.95 2978.10 2938.45 2897.23 2857.55 2816.35 2735.50 2654.65
HINDALCO 228.90 221.80 214.70 211.75 207.57 204.60 200.45 193.35 186.25
HINDPETRO 280.90 267.10 253.30 246.40 239.50 232.60 225.70 211.90 198.10
HINDUNILVR 1957.90 1890.40 1822.90 1783.50 1755.40 1716.00 1687.90 1620.40 1552.90
IBULHSGFIN 1020.75 953.50 886.25 851.80 819.00 784.55 751.75 684.50 617.25
ICICIBANK 402.25 392.85 383.45 377.75 374.03 368.30 364.60 355.20 345.80
INDUSINDBK 1703.00 1638.00 1573.00 1544.95 1507.97 1479.90 1442.95 1377.95 1312.95
INFRATEL 309.10 299.05 289.00 283.55 278.93 273.45 268.85 258.80 248.75
INFY 851.15 808.10 765.05 748.00 721.97 704.90 678.90 635.85 592.80
IOC 158.95 151.25 143.55 140.70 135.85 133.00 128.15 120.45 112.75
ITC 315.15 307.75 300.35 295.90 292.95 288.50 285.55 278.15 270.75
KOTAKBANK 1362.10 1317.10 1272.10 1256.15 1227.07 1211.10 1182.05 1137.05 1092.05
LT 1495.30 1441.10 1386.90 1352.40 1332.70 1298.20 1278.50 1224.30 1170.10
LUPIN 994.80 948.30 901.80 882.05 855.27 835.50 808.75 762.25 715.75
M&M 806.85 781.15 755.45 745.20 729.75 719.50 704.05 678.35 652.65
Continued .......
6 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019
 Weekly Pivots
NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
MARUTI 8000.65 7787.65 7574.65 7466.30 7361.65 7253.30 7148.65 6935.65 6722.65
NTPC 159.10 154.60 150.10 147.20 145.60 142.70 141.10 136.60 132.10
ONGC 161.25 156.05 150.85 148.80 145.65 143.60 140.45 135.25 130.05
POWERGRID 220.15 211.55 202.95 198.30 194.33 189.65 185.70 177.10 168.50
RELIANCE 1464.05 1360.55 1257.05 1220.70 1153.55 1117.20 1050.05 946.55 843.05
SBIN 335.85 323.45 311.05 303.00 298.62 290.55 286.20 273.80 261.40
SUNPHARMA 667.75 580.55 493.35 442.05 406.12 354.80 318.90 231.70 144.50
TATAMOTORS 248.90 228.05 207.20 195.25 186.35 174.40 165.50 144.65 123.80
TATASTEEL 511.75 498.65 485.55 478.10 472.45 465.00 459.35 446.25 433.15
TCS 2159.55 2063.35 1967.15 1933.90 1870.95 1837.70 1774.75 1678.55 1582.35
TECHM 812.00 774.70 737.40 723.30 700.08 685.95 662.75 625.45 588.15
TITAN 1025.35 1003.65 981.95 971.45 960.22 949.70 938.50 916.80 895.10
ULTRACEMCO 4354.65 4177.85 4001.05 3910.50 3824.22 3733.65 3647.40 3470.60 3293.80
UPL 861.75 830.35 798.95 782.50 767.55 751.10 736.15 704.75 673.35
VEDL 228.40 218.15 207.90 203.30 197.65 193.05 187.40 177.15 166.90
WIPRO 443.45 407.30 371.15 358.65 335.00 322.50 298.85 262.70 226.55
YESBANK 278.60 251.35 224.10 211.35 196.82 184.05 169.55 142.30 115.05
ZEEL 574.75 533.20 491.65 466.00 450.08 424.40 408.50 366.95 325.40

7 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 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 %)

DCBBANK 27.43% 3.85% IGL -21.06% 3.30%

MINDTREE 24.95% 6.50% KPIT -19.93% 2.23%

APOLLOHOSP 23.64% 5.02% BHEL -13.83% 3.05%

NIITTECH 19.60% 4.96% PIDILITIND -13.47% 3.43%

WIPRO 17.95% 5.35% TORNTPOWER -10.38% 2.53%

SHORT BUILD-UP LONG UNWINDING

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

FEDERALBNK 28.44% -5.99% MCX -10.60% -2.02%

SUNTV 23.79% -10.80% - - -

TV18BRDCST 22.24% -10.62% - - -

Analysis : As per the analysis of above chart.
SUNPHARMA 22.17% -11.97% Major Resistance Level: 11000
- - -
Major Support Levels: 10500 followed 10000
ENGINERSIN 17.92% -5.14% - - -

8 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 Nifty Analysis

Fundamental Outlook
NIFTY WEEKLY PIVOTS
After a somber note opening , Indian Equity market managed to push the index back above crucial resistance levels in last PARTICULAR LEVEL
week. The Nifty which opened at 10,807 rose to a weekly high of 10,930. The Nifty hit weekly low of 10692.35 before closing
the week at 10,906. On weekly basis, Nifty rose by about 1 percent. The rupee on Friday weakened by 16 paise to close at R4 11600.80

71.19 against the US dollar amid rise in demand for the greenback from exporters and unabated increase in global crude oil
R3 11357.40
prices. This is the second successive week of loss for the Indian currency. During the week the domestic unit registered a loss of
27 paise. In the previous week, the local unit had slumped by 81 paise. Brent crude, the global benchmark, was trading at USD
R2 11114.00
61.90 per barrel, higher by 1.18 per cent.On a net basis, foreign portfolio investors (FPIs) purchased shares worth Rs 842.13
crore Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 727.46 crore, provisional data R1 11020.60
available with BSE showed.
PP 10870.60

Technical Outlook
S1 10777.20

The Nifty which started on a negative note on Monday managed to push the index back above its crucial resistance levels in the S2 10627.20
week gone by, which was largely positive for the bulls. The Nifty reclaimed its crucial resistance level of 10,900 and closed the
week with gains of 1.04 percent. The index formed a ‘Small Bearish’ candle on intraday basis on daily charts as the closing level S3 10383.80

was lower than the opening level while on the weekly charts, the index formed a bullish candle for the second consecutive
S4 10140.40
week in a row.
Continued …....

9 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 Nifty Analysis
The index is currently forming a consolidation pattern and is likely to witness a range breakout soon. The current trading
range has been 10,950-10,550 levels. It has formed a higher base which is structurally positive. The Nifty has formed multi- WEEKLY STRATEGY
ple bullish reversal candlestick at the support zone which has kept the bulls interested. A decisive move above 10,950 would PARTICULAR DETAILS
be a bullish sign and will take the index higher towards 11,150-11,300 levels. On the options front, maximum Put OI is
ACTION BUY
placed at 10700 followed by 10500 strikes while maximum Call OI is at 11000 followed by 10900 strikes.
ENTRY PRICE ABOVE 10965

TARGET 11140

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 10,965. It can test the level of Rs.
STOCHASTIC POSITIVE
11,140 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 10,849.
…....

10 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 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 some consolidation near its major resistance levels throughout the week. Bank Nifty witnessed
ACTION BUY
some profit booking as it has declined from its recent highs and likely to see some consolidation in the near term. It has
ENTRY PRICE ABOVE 27630
formed an Inside Bar candle on daily scale and Doji candle on weekly scale which suggests some indecisiveness in the index.
Price patterns indicate strong support levels around the 27,300-27,050 levels on the downside which likely to provide a TARGET 27930

support in case of a decline. Now till it holds above 27,500 levels it can extend its move towards 27,750 then 27,950 levels. STOP LOSS 27430

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 28633.45

R3 28258.40

R2 27883.35

R1 27715.65

PP 27508.30

S1 27340.60
For this week, traders can adopt buy on lower level strategy in it and above the level of 27,630. It can test the level of Rs.
S2 27133.25
27,930 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 27,430.
S3 26758.20

S4 26383.15

11 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 LUPIN 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 showed good buying from lower levels throughout the week. On daily chart stock has gave breakout of its
ACTION BUY
major trend line upside. In intraday stock has showed god buying. If it manages to sustain above the levels of 880 than
further upside move can be seen in it. ENTRY PRICE ABOVE 880.00

TARGET 904.00

STOP LOSS 864.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 994.75
R3 948.25
R2 901.75
R1 882.00
PP 855.25
S1 835.50
S2 808.75
For this week, traders can adopt buy on lower level strategy in it and above the level of 880 it can test the level of Rs. 904 S3 762.25
during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.864.
S4 715.75

12 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 DRREDDY 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 consolidation near its major resistance levels throughout the week. On daily chart stock
ACTION BUY
has gave breakout of its major resistance levels. If it manages to trade above 2645 levels than further upside move can
ENTRY PRICE ABOVE 2645.00
be seen in it. In intraday it showed a good positive move.
TARGET 2725.00

STOP LOSS 2598.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 2816.75
R3 2742.40

R2 2668.05

R1 2632.40

PP 2593.7

S1 2558.05

S2 2519.35
For this week, traders can adopt buy on lower level strategy in it and above the level of 2645 it can test the level of Rs. S3 2445.00
2725 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 2598.
S4 2370.65

13 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 GODREJCP FUTURES( 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 showed good consolidation throughout the week. On daily chart stock has gave breakout of its major resis-
ACTION BUY
tance levels of 790. In Intraday chart it has formed flag price pattern and If it manages to sustain above the levels of 805
than further upside move can be seen in it. ENTRY PRICE ABOVE 805.00

TARGET 825.00

STOP LOSS 795.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 858.40

R3 835.10

R2 811.80

R1 801.00

PP 788.50

S1 777.70

S2 765.20

For this week, traders can adopt buy on lower level strategy in it and above the level of 805 it can test the level of Rs. 825 S3 741.90
during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 795. S4 718.60

14 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 NIITECH FUTURES ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Overall trend of the Stock is bullish for long and short term. Last week, it started on positive and showed good buying
PARTICULAR DETAILS
throughout the week and closed the last week at 1225.75 with overall gain of 4.96%. On daily chart stock has gave break-
ACTION BUY
out of its major resistance levels of 1240 and trading above this levels. If it manages to sustain above the levels of 1260
than further upside move can be seen in it. ENTRY PRICE ABOVE 1274.00

TARGET 1294.00

STOP LOSS 1262.00

WEEKLY PIVOTS
PARTICULAR LEVEL
R4 1459.75

R3 1375.00
R2 1290.25

R1 1258.00

PP 1205.50

S1 1173.25

S2 1120.75
For this week, traders can adopt buy on lower level strategy in it and above the level of 1274 it can test the level of Rs.
S3 1036.00
1294 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1262.
S4 951.25

15 Copyright © 2018 Ways2Capital. All rights reserved 21/01/2019

 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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