Equity Research Report 26 March 2018 Ways2Capital

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DIPAK TOPIWALA
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2 Copyright © 2018 Ways2Capital. All rights reserved 26/03/2018
CURRENCY MARKET UPDATE
CURRENCY PAIR
CURRENT
CLOSING
PREVIOUS
CLOSING
WEEKLY
% CHANGE
MAJOR INDICES
INDEX
CLOSING
AS ON 23rd Mar 18
Weekly Change
WEEKLY
% CHANGE
COMMODITY MARKET UPDATE
COMMODITY
CURRENT
CLOSING
PREVIOUS
CLOSING
WEEKLY
% CHANGE
Nifty 50 9988.05 -106.20 -1.05%
Nifty 100 10356.80 -87.25 -0.84%
Nifty 200 5428.65 -50.75 -0.93%
Nifty 500 8796.35 -97.85 -1.10%
Nifty VIX 15.97 0.15 0.96%
Nifty Bank 23760.20 -484.90 -2.00%
Nifty Auto 10619.00 -168.00 -1.56%
Nifty Finance 9993.60 -119.20 -1.18%
Nifty FMCG 25975.80 40.00 0.15%
Nifty IT 12433.15 11.85 0.10%
Nifty Media 3235.45 -33.75 -1.03%
Nifty Metal 3447.00 -119.80 -3.36%
Nifty Pharma 8326.80 -186.10 -2.19%
Nifty PSU Banks 2745.20 -109.60 -3.84%
Nifty PVT Bank 13418.35 -467.70 -3.36%
Nifty Realty 294.90 -10.65 -3.49%
USDINR 64.91 65.02 -0.17%
GBPINR 91.70 90.76 1.04%
EURINR 80.19 80.17 0.02%
JPYINR 61.88 61.54 0.55%
EURUSD 1.2344 1.2289 0.45%
GBPUSD 1.4141 1.3850 2.10%
Dollar Index 89.03 90.21 -1.31%
Gold COMEX 1349.90 1312.30 2.87%
Gold MCX 30907 30224 2.26%
Crude Oil NYMEX 65.88 62.34 5.68%
Crude Oil MCX 4266 4065 4.94%
Brent Oil NYMEX 70.45 66.21 6.40%
Copper MCX 433.48 448.55 -3.36%
Natural Gas NYMEX 2.591 2.688 -3.61%
Market Wrap–Up
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WEEKLY GAINERS
SCRIP
CLOSING
PRICE
WEEKLY
% CHANGE
52 WEEK
HIGH
WEEKLY LOSERS
SCRIP
CLOSING
PRICE
WEEKLY
% CHANGE
52 WEEK
LOW
BHARTI IN-
FRATEL
342.85 4.75% 481.90
BAJAJ FI-
NANCE
1704.65 4.09% 1989.00
HCL TECH 960.75 3.61% 1041.50
INDUSIND
BANK
1765.50 2.59% 1818.00
ZEE 575.00 1.75% 619.35
VEDANTA 271.00 -11.87% 217.95
HINDUSTAN
PETROLEUM
325.00 -7.75% 323.50
INDIAN OIL
CORP.
166.80 -6.19% 165.20
GAIL (INDIA) 415.05 -6.14% 347.00
BPCL 404.20 -5.89% 400.17
Market at a Glance
DIPAK TOPIWALA
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26.03.2018 17:47

ECONOMIC EVENTS CALENDER
TIME CURRENY EVENT FORECAST PREVIOUS
Tuesday, March 27, 2018
19:30 USD CB Consumer Confidence (Mar) 131.20 130.80
Wednesday, March 28, 2018
18:00 USD GDP (QoQ) (Q4) 2.70% 2.50%
19:30 USD Pending Home Sales (MoM) (Feb) 2.10% -4.70%
20:00 USD Crude Oil Inventories 1.200M -2.622M
Thursday, March 29, 2018
All Day INR India - Mahavir Jayanti HOLIDAY
14:00 GBP GDP (YoY) (Q4) 1.40% 1.40%
14:00 GBP GDP (QoQ) (Q4) 0.04% 0.40%
Friday, March 30, 2018
All Day EUR United Kingdom - Good Friday HOLIDAY
All Day USD United States - Good Friday HOLIDAY
All Day INR India - Good Friday HOLIDAY
Saturday, March 31, 2018
6:30 CNY Manufacturing PMI (Mar) 50.70 50.30
Economic Calendar
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26.03.2018 17:47

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
Continued .......
ADANIPORTS 433.30 410.00 386.70 376.30 363.37 352.95 340.05 316.75 293.45
AMBUJACEM 270.35 256.60 242.85 235.15 229.07 221.35 215.30 201.55 187.80
ASIANPAINT 1205.15 1173.30 1141.45 1127.05 1109.60 1095.20 1077.75 1045.90 1014.05
AUROPHARMA 661.80 627.25 592.70 572.20 558.13 537.60 523.55 489.00 454.45
AXISBANK 618.85 582.35 545.85 522.70 509.33 486.15 472.80 436.30 399.80
BAJAJ-AUTO 3345.10 3169.25 2993.40 2890.10 2817.53 2714.20 2641.65 2465.80 2289.95
BAJFINANCE 1987.90 1883.10 1778.30 1731.80 1673.50 1627.00 1568.70 1463.90 1359.10
BHARTIARTL 495.70 466.80 437.90 425.30 409.00 396.40 380.10 351.20 322.30
BOSCHLTD 20780.95 19677.85 18574.75 17968.30 17471.63 16865.15 16368.50 15265.40 14162.30
BPCL 541.15 501.40 461.65 437.55 421.90 397.80 382.15 342.40 302.65
CIPLA 676.60 632.05 587.50 562.95 542.92 518.35 498.35 453.80 409.25
COALINDIA 315.00 300.50 286.00 278.00 271.48 263.45 256.95 242.45 227.95
DRREDDY 2463.10 2343.45 2223.80 2148.05 2104.12 2028.35 1984.45 1864.80 1745.15
EICHERMOT 31459.25 30271.30 29083.35 28489.75 27895.38 27301.75 26707.40 25519.45 24331.50
GAIL 494.30 475.90 457.50 448.55 439.07 430.10 420.65 402.25 383.85
HCLTECH 1121.70 1061.65 1001.60 979.50 941.52 919.40 881.45 821.40 761.35
Weekly Pivots
DIPAK TOPIWALA
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26.03.2018 17:47

Continued .......
HDFC 2009.00 1938.95 1868.90 1829.25 1798.85 1759.20 1728.80 1658.75 1588.70
HDFCBANK 1986.55 1941.80 1897.05 1869.30 1852.27 1824.50 1807.50 1762.75 1718.00
HEROMOTOCO 3995.15 3810.20 3625.25 3519.50 3440.27 3334.50 3255.30 3070.35 2885.40
HINDALCO 263.75 246.45 229.15 217.10 211.85 199.80 194.55 177.25 159.95
HINDPETRO 454.50 418.65 382.80 360.90 346.95 325.05 311.10 275.25 239.40
HINDUNILVR 1420.75 1381.45 1342.15 1321.90 1302.85 1282.60 1263.55 1224.25 1184.95
IBULHSGFIN 1407.10 1340.50 1273.90 1237.15 1207.27 1170.50 1140.65 1074.05 1007.45
ICICIBANK 362.40 335.95 309.50 292.55 283.03 266.05 256.55 230.10 203.65
INDUSINDBK 1920.60 1859.80 1799.00 1774.25 1738.17 1713.40 1677.35 1616.55 1555.75
INFRATEL 413.40 387.65 361.90 352.20 336.12 326.40 310.35 284.60 258.85
INFY 1277.95 1239.80 1201.65 1184.65 1163.48 1146.45 1125.30 1087.15 1049.00
IOC 231.95 212.25 192.55 180.70 172.85 161.00 153.15 133.45 113.75
ITC 280.00 272.55 265.10 260.55 257.65 253.10 250.20 242.75 235.30
KOTAKBANK 1155.90 1118.70 1081.50 1060.15 1044.27 1022.90 1007.05 969.85 932.65
LT 1463.30 1403.40 1343.50 1305.70 1283.60 1245.80 1223.70 1163.80 1103.90
LUPIN 894.30 845.75 797.20 765.85 748.65 717.30 700.10 651.55 603.00
Weekly Pivots
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79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

M&M 820.60 791.05 761.50 742.70 731.95 713.15 702.40 672.85 643.30
MARUTI 9906.85 9503.95 9101.05 8854.15 8698.12 8451.20 8295.20 7892.30 7489.40
NTPC 192.95 184.80 176.65 173.35 168.50 165.15 160.30 152.15 144.00
ONGC 201.90 193.80 185.70 181.55 177.57 173.40 169.45 161.35 153.25
POWERGRID 209.10 204.00 198.90 196.60 193.78 191.45 188.65 183.55 178.45
RELIANCE 972.35 947.45 922.55 908.25 897.63 883.30 872.70 847.80 822.90
SBIN 306.35 284.40 262.45 248.65 240.48 226.65 218.50 196.55 174.60
SUNPHARMA 436.75 409.50 382.25 216.25 355.00 188.95 327.70 300.45 273.20
TATAMOTORS 372.20 359.55 346.90 338.90 334.23 326.20 321.55 308.90 296.25
TATASTEEL 719.20 670.80 622.40 594.45 573.97 546.00 525.55 477.15 428.75
TCS 3092.25 3006.00 2919.75 2868.95 2833.50 2782.70 2747.25 2661.00 2574.75
TECHM 724.20 689.90 655.60 639.50 621.28 605.15 586.95 552.65 518.35
ULTRACEMCO 4674.65 4422.25 4169.85 4021.80 3917.45 3769.40 3665.05 3412.65 3160.25
UPL 812.45 777.80 743.15 723.95 708.47 689.25 673.80 639.15 604.50
VEDL 405.90 366.60 327.30 301.65 287.97 262.30 248.65 209.35 170.05
WIPRO 328.45 315.00 301.55 293.10 288.07 279.60 274.60 261.15 247.70
YESBANK 390.55 359.05 327.55 307.10 296.05 275.60 264.55 233.05 201.55
ZEEL 652.10 623.70 595.30 582.35 566.87 553.90 538.45 510.05 481.65
Weekly Pivots
DIPAK TOPIWALA
CN=DIPAK TOPIWALA,
79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

NIFTY OPTIONS OPEN INTEREST ANALYSISLONG BUILD-UP
SCRIP
CHANGE IN
OI (In %)
PRICE CHANGE
(In %)
SHORT COVERING
SCRIP
CHANGE IN
OI (In %)
PRICE CHANGE
(In %)
SHORT BUILD-UP
SCRIP
CHANGE IN
OI (In %)
PRICE CHANGE
(In %)
LONG UNWINDING
SCRIP
CHANGE IN
OI (In %)
PRICE CHANGE
(In %)
Analysis : As per the analysis of
above chart.
Major Resistance Level: 10500.
Major Support Levels:- 10000.
SRF 30.66% 1.96%
INDUSINDBK 12.85% 1.00%
NTPC 8.06% 2.39%
OIL 7.67% 1.75%
TITAN 7.03% 1.91%
JUBLFOOD -10.28% 7.22%
INFRATEL -6.37% 2.04%
BAJAJFINSV -4.44% 1.78%
GODREJCP -4.13% 3.06%
- - -
UBL 29.26% -6.52%
GAIL 19.71% -1.08%
AMBUJACEM 19.14% -3.68%
ANDHRABANK 18.08% -5.77%
PCJEWELLER 17.13% -11.32%
IDBI -20.83% -9.26%
FORTIS -19.23% -8.22%
JINDALSTEL -18.12% -5.70%
CANFINHOME -16.90% -6.78%
AMARAJABAT -15.15% -1.98%
Open Interest & price Analysis
DIPAK TOPIWALA
CN=DIPAK TOPIWALA,
79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

NIFTY WEEKLY PIVOTS
PARTICULAR LEVEL
Fundamental Outlook
The week starts with mounting concern on ‘Trade War’ between the US and the China started showing concern
over rest of the world. This was clearly a threat for traders’ community across the world, resulting into massive sell
off in the equity market. Equity benchmarks ended at five month’s low at 9998, down 197 points or 2% due to the
global equity sell-off. FIIs Index futures ‘Long Short Ratio’ also plunged from 47% to 37%, they continued adding
bearish bets in index futures. Nifty P/E ratio was in the range of 24.38 to 24.76 for the past week.
Technical Outlook
Last week the benchmark index Nifty finally corrected below 10000 marks after some consolidation and traded near
to more than 5 month low. We also witnessed some fresh short position formation in index futures segment on
lower levels. On options front, 10000-10200 call options were active and they also added good amount of positions.
On the flip side, we saw huge amount of open interest addition in 9900 put along with some build-up in 9700 and
9800 strikes.
Continued …....
R4 10994.45
R3 10688.50
R2 10382.55
R1 10193.20
PP 10076.60
S1 9887.25
S2 9770.65
S3 9464.70
S4 9158.75
Nifty Analysis
DIPAK TOPIWALA
CN=DIPAK TOPIWALA,
79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

Now, maximum concentration of open interest is placed at 10500 call and 10000 put options. Market may attract
further selling if it breaks its next important support of 9950 otherwise it can give March expiry above 10000
marks.
Continued …....
TECHNICAL INDICATOR
ANALYSIS
INDICATOR
CURRENT
TREND
WEEKLY STRATEGY
PERTICULAR DETAILS
ACTION SELL
ENTRY PRICE Below 9960
TARGET 9820/9620
STOP LOSS 10051
20 Days EMA NEGATIVE
50 Days EMA NEGATIVE
200 Days EMA POSITIVE
RSI NEGATIVE
MACD NEGATIVE
STOCHASTIC NEGATIVE
For this week, traders can adopt sell on higher level strategy in it and below the level of 9960 it can test the level
of Rs. 9820 & 9620 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 10051.
Nifty Analysis
DIPAK TOPIWALA
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26.03.2018 17:47

Last week, Bank Nifty Mar Futures made a low of 23631.20 and traded near to its 6 month low. It broke the ma-
jor psychological level of 24000 during the week and closed at 23710.15 with the overall loss of 3.65% on weekly
basis. Technically it’s sustaining below the 200days EMA with the negative RSI & Stochastic and trading below
the trend line breakout. For this week, we can expect further downside movement in it.
WEEKLY STRATEGY
PERTICULAR DETAILS
For this week, traders can adopt sell on higher levels strategy in it and below the level of Rs. 23630, it can test
the level of Rs.23410/ 23205 during the week. Trades can make sell position in it by maintaining a Stop Loss of
Rs.23630
WEEKLY PIVOTS
PARTICULAR LEVEL
R4 27120.20
R3 26081.40
R2 25042.60
R1 24376.40
PP 24003.80
S1 23337.60
S2 22965.00
S3 21926.20
S4 20887.40
ACTION SELL
ENTRY PRICE Below 23630
TARGET 23410/23205
STOP LOSS 23810
Bank Nifty Analysis
DIPAK TOPIWALA
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26.03.2018 17:47

Technical Outlook
Overall trend of the share is bearish for medium-long term .Currently stock is in strong uptrend with good mo-
mentum and the trend is supported with good volume. Stock started the week with negativity on Monday but
as the week past stock stared gaining the strength and closed on positive note with formation of strong buy
pattern on daily chart. Candle Pattern shows some strength in buying as it has formed inverse H&S price pat-
tern on daily.
For this week, traders can adopt buy on lower level strategy in it and above the level of 535 it can test the level
of Rs. 549 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 524.95.
LICHNGFIN Cash ( Call of the Week )
WEEKLY STRATEGY
PERTICULAR DETAILS
WEEKLY PIVOTS
PARTICULAR LEVEL
R4 586.70
R3 563.55
R2 540.40
R1 530.15
PP 517.25
S1 507.00
S2 494.10
S3 470.95
S4 447.80
ACTION Buy
ENTRY PRICE Above 534.30
TARGET 549.00
STOP LOSS 524.95
DIPAK TOPIWALA
CN=DIPAK TOPIWALA,
79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

Technical Outlook
INFRATEL started the week on negative note on Monday and traded with sideways movement throughout the
week and give closing on flat note. On daily showed a good consolidation on lower levels. Stock is trading
above its 21 days moving averages .On intraday chart stock is forming Inverse H&S price pattern and if it gave
breakout of this pattern than further upside move can be expected in the stock.
For this week, traders can adopt buy on lower level strategy in it and above the level of 346 it can test the level
of Rs. 356.40 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 339.95
INFRATEL Cash ( Call of the Week )
WEEKLY STRATEGY
PERTICULAR DETAILS
WEEKLY PIVOTS
PARTICULAR LEVEL
R4 413.35
R3 387.60
R2 361.85
R1 352.15
PP 336.1
S1 326.40
S2 310.35
S3 284.60
S4 258.85
ACTION Buy
ENTRY PRICE Above 346.00
TARGET 356.40
STOP LOSS 339.95
DIPAK TOPIWALA
CN=DIPAK TOPIWALA,
79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

Technical Outlook
Last week NIITECH open in positive note but moves in negative trend in entire week and gives closing at
896.20. according to technical analysis NIITECH break important support level of 900 and it able to give closing
below the important support level of 900 we can expect further downside trend in it .
For next week taders can sell niittech below 864 with the tgt of 848 and sl of 873.
For next week traders can sell NIITECH below 864 with the tgt of 848 and sl of 873.
NIITTECH Futures ( Call of the Week )
WEEKLY STRATEGY
PERTICULAR DETAILS
WEEKLY PIVOTS
PARTICULAR LEVEL
ACTION SELL
ENTRY PRICE Below 864.00
TARGET 848.00
STOP LOSS 873.00
R4 1194.75
R3 1098.75
R2 1002.75
R1 949.50
PP 906.75
S1 853.50
S2 810.75
S3 714.75
S4 618.75DIPAK TOPIWALA
CN=DIPAK TOPIWALA,
79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

Technical Outlook
Last week titan futures open at positive note and moves in positive trend entire week. According to technical
analysis it break important resistance level of 900 and sustain above this level and give closing above major
resistance level of 900 we can expect further upside movement in it
For next week traders can made long position in titan above the level of 916 with the tgt of 926 and sl of 910
TITAN Futures ( Call of the Week )
WEEKLY STRATEGY
PERTICULAR DETAILS
WEEKLY PIVOTS
PARTICULAR LEVEL
R4 1007.05
R3 966.80
R2 926.55
R1 911.95
PP 886.30
S1 871.70
S2 846.05
S3 805.80
S4 765.55
ACTION BUY
ENTRY PRICE Above 916
TARGET 926.00
STOP LOSS 910.00
DIPAK TOPIWALA
CN=DIPAK TOPIWALA,
79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

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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
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इक्ववटी / कभोडडटी फाजाय भें कोई बी ननवेश जोखखभ के अधीन होता है, कं ऩनी इन सुझावों ऩय ककए गए ककसी बी नुकसान के लरए उत्तयदामी नहीं होगी | मह स्तय बववष्म के कीभतों की गनत का संके त नहीं देते है| वेफसाइट के भाध्मभ से ककसी बी ब्राउक्ज़ंग का
अथा है अस्वीकयण की स्वीकृ नत।
DISCLOSURE (प्रकटीकयण) :
High Brow Market Research Investment Advisor Pvt. Ltd. or its associates does not do business with companies covered in research report nor is associated in any manner with any issuer of products/ securities, this ensures that there is no actual
or potential conflicts of interest. To ensure compliance with the regulatory body, we have resolved that the company and all its representatives will not make any trades in the market.
हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोगी कं ऩननमां अनुसंधान रयऩोटा भें शालभर कं ऩननमों के साथ कायोफाय नहीं कयती हैं औय न ही ककसी बी तयह के उत्ऩादों / प्रनतबूनतमों के जायीकताा के साथ जुडी हैं, जो मह सुननक्श्चत कयता है
कक टहतों के लरए कोई वास्तववक मा संबाववत संघषा नहीं है | ननमाभक ननकाम के अनुऩारन को सुननक्श्चत कयने के लरए हभने मह तम ककमा है कक कं ऩनी औय उसके कोई बी प्रनतननधध फाज़ाय भें ट्रेड नहीं कयेंगे।
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.
Disclaimer
DIPAK TOPIWALA
CN=DIPAK TOPIWALA,
79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

ग्राहकों को मह सराह दी जाती है कक वे रयऩोटा भें दी गई जानकायी को के वर याम के रूऩ भें देखें औय ननवेश के लरए स्वमं पै सरा कयें | ग्राहकों को वेफसाइट ऩय प्रकालशत सेवाओं के ननमभों औय शतों को ऩढ़ने औय सभझने की बी सराह दी जाती है | कं ऩनी के
ननगभन के फाद ननमाभक ननकाम द्वायाकं ऩनी के खखराप कोई भुकदभा (माधचका) दामय नहीं ककमा गमा है।
DISCLOSURE APPENDIX (प्रकटीकयण ऩरयलशष्ट ) :
The reports are prepared by analysts who are employed by High Brow Market Research Investment Advisor Pvt. Ltd. All the views expressed in this report herein accurately reflects personal views about the subject company or companies &
their securities and no part of compensation was, is or will be directly or indirectly related to the specific recommendations or views contained in this research report.
रयऩोटा ववश्रेषकों द्वाया तैमाय की गमी है जो द्वाया हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड द्वाया ननमुवत हैं | इस रयऩोटा भें व्मवत सबी ववचाय कं ऩनी के फाये भें व्मक्वतगत ववचायों को दशााता है औय कं ऩननमों औय उनकी प्रनतबूनतमां औय
ऺनतऩूनता (भुआवजे) का कोई टहस्सा, मा इस शोध रयऩोटा भें ननटहत ववशेष सुझावों मा ववचायों से प्रत्मऺ मा अप्रत्मऺ रूऩ से संफंधधत नहीं होगा।
DISCLOSURE IN TERMS OF CONFLICT OF INTEREST (टहतों के संघषा के भाभरे भें प्रकटीकयण ):
(a) High Brow Market Research Pvt. Ltd. or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(अ) हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कं ऩनी भें कोई ववत्तीम रुधच नहीं है औय न ही इस तयह की ववत्तीम टहत 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,
(फ) हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कं ऩनी की प्रनतबूनतमों भें एक प्रनतशत मा उससे अधधक के वास्तववक / पामदेभंद स्वालभत्व 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 भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोधगमों को अनुसंधान रयऩोटा के प्रकाशन के सभम मा सावाजननक रूऩ से उऩक्स्थत होने के सभम कोई अन्म बौनतक संघषा नहीं है|
DISCLOSURE IN TERMS OF COMPENSATION ( ऺनतऩूनता के संदबा भें प्रकटीकयण):
High Brow Market Research Investment Advisor Pvt. Ltd. policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst's area of coverage.
Analyst compensation: Analysts are salary based permanent employees of High Brow Market Research Pvt. Ltd.
हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड की ऩॉलरसी अऩने ववश्रेषकों, ऩेशेवयों को ववश्रेषक के ऺेत्र भें ककसी बी कं ऩनी की प्रनतबूनतमों के स्वाभी से ववश्रेषकों को रयऩोटा कयने से योकती है।
ववश्रेषक ऺनतऩूनता : ववश्रेषक हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड के वेतन आधारयत स्थामी कभाचायी है |
DISCLOSURE IN TERMS OF PUBLIC APPEARANCE (सावाजननक प्रकटन के भाभरे भें प्रकटीकयण ) :
(a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from the subject company in the past twelve months;
(अ) हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोगीमों ने वऩिरे 12 भहीनों भें ववषम कं ऩनी से कोई भुआवजा प्राप्त नहीं ककमा 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 रयऩोटा के ववतयण की नतधथ से ऩूवा फायह भहीनों के दौयान ववषम कं ऩनी अफ मा कबी बी ग्राहक नहीं यही है।
(c ) High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or employee of the subject company;
(स) हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड मा उसके सहमोगीमों ने ववषम कं ऩनी के अधधकायी, ननदेशक मा कभाचायी के रूऩ भें कबी बी काभ
Disclaimer
DIPAK TOPIWALA
CN=DIPAK TOPIWALA,
79c42be9fea5692977105eede4cb5b20,
26.03.2018 17:47

Equity Research Report 26 March 2018 Ways2Capital

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