Gold futures rose over one percent in American trade away from December 29 lows as the dollar index fell from January 18 highs for the second session following earlier
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8
BULLION
Gold futures rose over one percent in American trade away from December 29 lows
as the dollar index fell from January 18 highs for the second session following earlier
data from the US the world's largest economy. One year inflation outlook steadied at
2.7% while five year outlook steadied as well at 2.5%.Federal Reserve Chair Jerome
Powell testified on the Semiannual Monetary Policy Report before Congress in
Washington DC earlier this week where he painted a positive picture of the economy
and bolstered expectations of four rate hikes this year.
BASE METALS
Base metals traded on the Shanghai Futures Exchange were broadly weaker during
Asian morning trading on Friday March 2, with only copper and aluminium prices
managing to post slight gains. Weakness continued across the SHFE base metals
complex this morning with the relatively stronger dollar and thin liquidity restricting
the metals.
ENERGY
On Wednesday the Energy Information Administration released its report on US
crude stocks showing a buildup of 3.0 million barrels in the week ending February 23
compared to a 1.6M drop in the previous reading while analysts expected a 2.4M rise
with total stocks now reaching 423.5 million barrels remaining within the medium
range on average in this time of year.
Natural gas futures rose over one percent to February 8 highs in American trade as
the dollar index bounced off January18 highs following earlier data from the US the
world's largest energy consumer including the EIA report that showed a larger than
expected inventory draw down for the eleventh week in a row.
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9
SPICES
Even as overall fundamentals still did not remain strong from new crop arrivals
amidst better crop expectations traders expect that incoming festival season
along with firm Dollar could support export demand and support prices. Recent
reports of apprehensions of crop damage in parts of Gujarat from climatic
fluctuations may not be strong to support prices for now as overall production is
expected to be higher this year.
Turmeric Markets talks suggest that a significant drop in sowing in regions
across Erode due to a drought like situation last year. As per trader estimates
production is expected to fall to 1-3 lakh bags from the normal 15-20 lakh bags
seen on an average.
OIL & OILSEEDS
Hike in import duty in November keeps prices supported and as per the
notifications import duty on crude palm oil has been raised to 30 per cent
from 15 per cent and on refined oil to 40 per cent from 20 per cent in a bid to
reduce cheaper shipments and enhance local prices for supporting farmers
and refiners.
Near term trend might be weak as long as export sales do not improve
although the medium term outlook is bullish Menthaoil considering fall in crop
size and carry forward stocks nearly halving, over last year. Prospects of
improving industrial demand and lower production has strongly supported the
market in recent months.
GUAR COMPLEX
Guarseed is facing strong resistance at 5000 as Gum trades near 10000mark.
Medium term trend remains up due to rising concerns on production front from
crop losses in Rajasthan due to adverse weather few months back. Lowering
inventories will be another bullish factor. Increased exports of guar gum during
last year have been encouraging due to increasing rig count in the US.
OTHERS
The Cotton Association of India has in its latest estimate lowered the crop size
by 8 lakh bales (of 170 kg each) to 367 lakh bales against earlier estimate of 375
lakh bales citing severe infestation of cotton with pink boll worm in
Maharashtra and Telangana.
RM seed traded with a positive bias yesterday as new arrivals stood quite low
and spot demand improved ahead of Holi festival. From a 1-2 month
perspective traders expect maximum fall of Rs.150-250/qtl.
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10
SILVER
Last week USDINR Mar Futures started the week on positive note &found enough resistance at the level of 39250 and
closed the week with negative return. It made a high of 39283 during the week and closed at 38848 with the overall lost
of -0.24% on weekly basis. Technically for this week, we can expect buy from higher level &above the level of 639070, it
can test the level of 39600 during the week. One can make buy position in it by maintaining a SL of 38850
WEEKLY STRATEGY
Particular Details
ACTION BUY
ENTRY PRICE ABOVE 39070
TARGET 39600
STOP LOSS 38850
NICKEL
Last week, Nickel prices opened flat and prices corrected sharply for most of the week till low of 870. Previously prices
have rallied negative in the last month after taking strong resistance at its short term downward trend line. Daily RSI
(14) has given a negative signal. Prices are expected to go lower from these levels towards next strong support zone
placed around 830.
WEEKLY STRATEGY
Particular Details
ACTION BUY
ENTRY PRICE ABOVE 865
TARGET 830
STOP LOSS 889
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11
Calthe Week (NCDE
DHANIYA
Dhaniya prices opened flat in the last week and thereafter consolidated for the whole week in the range of 5580-5480
levels. Market is continuously making higher highs and higher lows indicating bullish trend from short term to mid term
basis. Prices are expected to go high above the level of 5580. On the lower side immediate support is placed around
5450level.
WEEKLY STRATEGY
Particular Details
ACTION Sell
ENTRY PRICE Below 5580
TARGET 5700
STOP LOSS 5525
CASTORSEED
NCDEX Castor mar future continued to trade with negative bias for the third consecutive trading week. Price made the
low of 4046 during the week and the high of 4223 and settled at 4098. Price declined by 100 points during the week
with higher volume and open interest indicating building of short positions. We can see pressure on prices from higher
level. And we are expecting market can be traded with negative trend.
WEEKLY STRATEGY
Particular Details
ACTION Sell
ENTRY PRICE Below 4030
TARGET 3930
STOP LOSS 4085
12. Copyright ┬й 2018 Ways2Capital. All rights reserved
12
Calls of e Week (FOREX)
USDINR
Last week USDINR Mar Futures started the week on positive note & continued the same for the entire week. It made a
high of 65.5000 during the week and closed at 65.7350 with the overall gain of 0.99% on weekly basis. Technically for
this week, we can expect profit booking in it from the higher levels & below the level of 65.1000, it can test the level of
64.5125 during the week. One can make sell position in it by maintaining a SL of 65.5125.
WEEKLY STRATEGY
Particular Details
ACTION SELL
ENTRY PRICE BELOW 65.1000
TARGET 64.5125
STOP LOSS 65.5125
GBPINR
Last week GBPINR Mar Futures started the week on positive note and made a high of 91.4800 but till the end of the
week, all of its earlier gains were erased and it closed at 89.9150 with the overall loss of 0.83% on weekly basis.
Technically for this week, we can further expect downside movement in it as sustaining below trend line breakout with
negative RSI. If it breaks the level of 89.8600 then it can test the level of 89.2625 during the week. One can make sell
position in it by maintaining a SL 90.2250.
WEEKLY STRATEGY
Particular Details
ACTION SELL
ENTRY PRICE BELOW 89.8600
TARGET 89.2625
STOP LOSS 90.2250
13. Copyright ┬й 2018 Ways2Capital. All rights reserved
13
LEGAL DISCLAIMER (рдХрд╛рдиреВрдиреА рдЕрд╕реНрд╡реАрдХрдпрдг) :
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.
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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.
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рдХреЛ рдЦрдпреАрджрдиреЗ рдХреЗ рд▓рд░рдП рдлреЗрдЪрдиреЗ рдорд╛ рдПрдХ рдЖрдЧреНрд░рд╣ рдХреЗ рд▓рд░рдП рдкреНрд░рд╕реНрддрд╛рд╡ рдХреЗ рд░реВрдй рднреЗрдВ рдирд╣реАрдВ рднрд╛рдирд╛ рдЬрд╛ рд╕рдХрддрд╛ рд╣реИ|
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.
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рдХреА рддреНрд░реБрдЯрдЯрдореЛрдВ рдХреЗ рд▓рд░рдП рдХреЛрдИ рджрд╛рдирдорддреНрд╡ рд╕реНрд╡реАрдХрд╛рдп рдирд╣реАрдВ рдХрдпрддреЗ рд╣реИрдВ | рд╡реЗрдлрд╕рд╛рдЗрдЯ рдХреЗ рднрд╛рдзреНрдордн рд╕реЗ рд╕рдХрдкрд┐рдВ рдЧ рдХрдпрдиреЗ рд╡рд╛рд░реЗ рд░реЛрдЧреЛрдВ рдХреЛ рдЕрдйрдиреА рдйрд╕рдВрдж рдХреЗ рдЙрддреНрдйрд╛рдж рд╕реЗрд╡рд╛рдУрдВ рдХреЛ рдЪреБрдирдиреЗ рдХрд╛ рдЕрдзрдзрдХрд╛рдп рд╣реИ|
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.
рдЗрдХреНрд╡рд╡рдЯреА / рдХрднреЛрдбрдбрдЯреА рдлрд╛рдЬрд╛рдп рднреЗрдВ рдХреЛрдИ рдмреА рдирдирд╡реЗрд╢ рдЬреЛрдЦрдЦрдн рдХреЗ рдЕрдзреАрди рд╣реЛрддрд╛ рд╣реИ, рдХрдВ рдйрдиреА рдЗрди рд╕реБрдЭрд╛рд╡реЛрдВ рдйрдп рдХрдХрдП рдЧрдП рдХрдХрд╕реА рдмреА рдиреБрдХрд╕рд╛рди рдХреЗ рд▓рд░рдП рдЙрддреНрддрдпрджрд╛рдореА рдирд╣реАрдВ рд╣реЛрдЧреА | рдорд╣ рд╕реНрддрдп рдмрд╡рд╡рд╖реНрдо рдХреЗ
рдХреАрднрддреЛрдВ рдХреА рдЧрдирдд рдХрд╛ рд╕рдВрдХреЗ рдд рдирд╣реАрдВ рджреЗрддреЗ рд╣реИ| рд╡реЗрдлрд╕рд╛рдЗрдЯ рдХреЗ рднрд╛рдзреНрдордн рд╕реЗ рдХрдХрд╕реА рдмреА рдмреНрд░рд╛рдЙрдХреНрдЬрд╝рдВрдЧ рдХрд╛ рдЕрдерд╛ рд╣реИ рдЕрд╕реНрд╡реАрдХрдпрдг рдХреА рд╕реНрд╡реАрдХреГ рдирддред
DISCLOSURE (рдкреНрд░рдХрдЯреАрдХрдпрдг):
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.
рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рдорд╛ рдЙрд╕рдХреЗ рд╕рд╣рдореЛрдЧреА рдХрдВ рдйрдирдирдорд╛рдВ рдЕрдиреБрд╕рдВрдзрд╛рди рд░рдпрдйреЛрдЯрд╛ рднреЗрдВ рд╢рд╛рд▓рднрд░ рдХрдВ рдйрдирдирдореЛрдВ рдХреЗ рд╕рд╛рде рдХрд╛рдпреЛрдлрд╛рдп рдирд╣реАрдВ рдХрдпрддреА рд╣реИрдВ рдФрдп рди рд╣реА рдХрдХрд╕реА рдмреА
рддрдпрд╣ рдХреЗ рдЙрддреНрдйрд╛рджреЛрдВ / рдкреНрд░рдирддрдмреВрдирддрдореЛрдВ рдХреЗ рдЬрд╛рдпреАрдХрддрд╛рд╛ рдХреЗ рд╕рд╛рде рдЬреБрдбреА рд╣реИрдВ, рдЬреЛ рдорд╣ рд╕реБрдирдирдХреНрд╢реНрдЪрдд рдХрдпрддрд╛ рд╣реИ рдХрдХ рдЯрд╣рддреЛрдВ рдХреЗ рд▓рд░рдП рдХреЛрдИ рд╡рд╛рд╕реНрддрд╡рд╡рдХ рдорд╛ рд╕рдВрдмрд╛рд╡рд╡рдд рд╕рдВрдШрд╖рд╛ рдирд╣реАрдВ рд╣реИ | рдирдирдорд╛рднрдХ рдирдирдХрд╛рдо рдХреЗ рдЕрдиреБрдйрд╛рд░рди
рдХреЛ рд╕реБрдирдирдХреНрд╢реНрдЪрдд рдХрдпрдиреЗ рдХреЗ рд▓рд░рдП рд╣рднрдиреЗ рдорд╣ рддрдо рдХрдХрдорд╛ рд╣реИ рдХрдХ рдХрдВ рдйрдиреА рдФрдп рдЙрд╕рдХреЗ рдХреЛрдИ рдмреА рдкреНрд░рдирддрдирдирдзрдз рдлрд╛рдЬрд╝рд╛рдп рднреЗрдВ рдЯреНрд░реЗрдб рдирд╣реАрдВ рдХрдпреЗрдВрдЧреЗред
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the company by regulatory body.
рдЧреНрд░рд╛рд╣рдХреЛрдВ рдХреЛ рдорд╣ рд╕рд░рд╛рд╣ рджреА рдЬрд╛рддреА рд╣реИ рдХрдХ рд╡реЗ рд░рдпрдйреЛрдЯрд╛ рднреЗрдВ рджреА рдЧрдИ рдЬрд╛рдирдХрд╛рдпреА рдХреЛ рдХреЗ рд╡рд░ рдпрд╛рдо рдХреЗ рд░реВрдй рднреЗрдВ рджреЗрдЦреЗрдВ рдФрдп рдирдирд╡реЗрд╢ рдХреЗ рд▓рд░рдП рд╕реНрд╡рдордВ рдкреИ рд╕рд░рд╛ рдХрдпреЗрдВ | рдЧреНрд░рд╛рд╣рдХреЛрдВ рдХреЛ рд╡реЗрдлрд╕рд╛рдЗрдЯ рдйрдп рдкреНрд░рдХрд╛рд▓рд╢рдд рд╕реЗрд╡рд╛рдУрдВ рдХреЗ
рдирдирдорднреЛрдВ рдФрдп рд╢рддреЛрдВ рдХреЛ рдйрдврд╝рдиреЗ рдФрдп рд╕рднрдЭрдиреЗ рдХреА рдмреА рд╕рд░рд╛рд╣ рджреА рдЬрд╛рддреА рд╣реИ | рдХрдВ рдйрдиреА рдХреЗ рдирдирдЧрднрди рдХреЗ рдлрд╛рдж рдирдирдорд╛рднрдХ рдирдирдХрд╛рдо рджреНрд╡рд╛рдпрд╛рдХрдВ рдйрдиреА рдХреЗ рдЦрдЦрд░рд╛рдк рдХреЛрдИ рднреБрдХрджрднрд╛ (рдорд╛рдзрдЪрдХрд╛) рджрд╛рдордп рдирд╣реАрдВ рдХрдХрдорд╛
рдЧрдорд╛ рд╣реИред
14. Copyright ┬й 2018 Ways2Capital. All rights reserved
14
DISCLOSURE APPENDIX: (рдкреНрд░рдХрдЯреАрдХрдпрдгрдйрд░рдпрд▓рд╢рд╖реНрдЯ ):
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.
рд░рдпрдйреЛрдЯрд╛ рд╡рд╡рд╢реНрд░реЗрд╖рдХреЛрдВ рджреНрд╡рд╛рдпрд╛ рддреИрдорд╛рдп рдХреА рдЧрдореА рд╣реИ рдЬреЛ рджреНрд╡рд╛рдпрд╛ рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рджреНрд╡рд╛рдпрд╛ рдирдирдореБрд╡рдд рд╣реИрдВ | рдЗрд╕ рд░рдпрдйреЛрдЯрд╛ рднреЗрдВ рд╡реНрдорд╡рдд рд╕рдмреА
рд╡рд╡рдЪрд╛рдп рдХрдВ рдйрдиреА рдХреЗ рдлрд╛рдпреЗ рднреЗрдВ рд╡реНрдордХреНрд╡рддрдЧрдд рд╡рд╡рдЪрд╛рдпреЛрдВ рдХреЛ рджрд╢рд╛рд╛рддрд╛ рд╣реИ рдФрдп рдХрдВ рдйрдирдирдореЛрдВ рдФрдп рдЙрдирдХреА рдкреНрд░рдирддрдмреВрдирддрдорд╛рдВ рдФрдп рд║рдирддрдйреВрдирддрд╛ (рднреБрдЖрд╡рдЬреЗ) рдХрд╛ рдХреЛрдИ рдЯрд╣рд╕реНрд╕рд╛, рдорд╛ рдЗрд╕ рд╢реЛрдз рд░рдпрдйреЛрдЯрд╛ рднреЗрдВ
рдирдирдЯрд╣рдд рд╡рд╡рд╢реЗрд╖ рд╕реБрдЭрд╛рд╡реЛрдВ рдорд╛ рд╡рд╡рдЪрд╛рдпреЛрдВ рд╕реЗ рдкреНрд░рддреНрдорд║ рдорд╛ рдЕрдкреНрд░рддреНрдорд║ рд░реВрдй рд╕реЗ рд╕рдВрдлрдВрдзрдзрдд рдирд╣реАрдВ рд╣реЛрдЧрд╛ред
DISCLOSURE IN TERMS OF CONFLICT OF INTEREST:
рдЯрд╣рддреЛрдВ рдХреЗ рд╕рдВрдШрд╖рд╛ рдХреЗ рднрд╛рднрд░реЗ рднреЗрдВ рдкреНрд░рдХрдЯреАрдХрдпрдг:
(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;
(рдЕ) рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рд░реНрдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рд░реНрдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рдорд╛ рдЙрд╕рд░реНрдХреЗ рд╕рд╣рдореЛрдЧреА рдорд╛ рдЙрдирд░реНрдХреЗ рдХрд░реНрдХрд╕реА рдмреА рддрддреНрд░реНрдХрд╛рд░ рд░рдпрд╢реНрддреЗрджрд╛рдп рд░реНрдХреА рд╡рд╡рд╖рдо рд░реНрдХрдВ рдйрдиреА рднреЗрдВ рд░реНрдХреЛрдИ рд╡рд╡рддреНрддреАрдо рд░реБрдЪрд┐
рдирд╣ рдВ рд╣реИ рдФрдп рди рд╣ рдЗрд╕ рддрдпрд╣ рд░реНрдХреА рд╡рд╡рддреНрддреАрдо рд╣рд╣рдд рд░реНрдХреА рдкреНрд░рд░реНрдХреГ рдирдд рд╣реИ|
(b) 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,
(рдл) рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рд░реНрдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рд░реНрдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рдорд╛ рдЙрд╕рд░реНрдХреЗ рд╕рд╣рдореЛрдЧреА рдорд╛ рдЙрдирд░реНрдХреЗ рдХрд░реНрдХрд╕реА рдмреА рддрддреНрд░реНрдХрд╛рд░ рд░рдпрд╢реНрддреЗрджрд╛рдп рд░реНрдХреА рд╡рд╡рд╖рдо рд░реНрдХрдВ рдйрдиреА рд░реНрдХреА рдкреНрд░рдирддрдмреВрдирддрдореЛрдВ рднреЗрдВ рдПрд░реНрдХ
рдкреНрд░рдирддрд╢рдд рдорд╛ рдЙрд╕рд╕реЗ рдЕрдЪрдзрд░реНрдХ рд░реНрдХреЗ рд╡рд╛рд╕реНрддрд╡рд╡рд░реНрдХ / рдкрд╛рдорджреЗрднрдВрдж рд╕реНрд╡рд╛рд▓рднрддреНрд╡ рдирд╣ рдВ рд╣реИрдВ |
(c) 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;
(рд╕) рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рд░реНрдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рд░реНрдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рдорд╛ рдЙрд╕рд░реНрдХреЗ рд╕рд╣рдореЛрдЪрдЧрдореЛрдВ рд░реНрдХреЛ рдЕрдиреБрд╕рдВрдзрд╛рди рд░рдпрдйреЛрдЯрдЯ рд░реНрдХреЗ рдкреНрд░рд░реНрдХрд╛рд╢рди рд░реНрдХреЗ рд╕рднрдо рдорд╛ рд╕рд╛рд╡рдЯрдЬрдирдирд░реНрдХ рд░реВрдй рд╕реЗ рдЙрдйрд╕реНрд╕реНрдердд
рд╣реЛрдиреЗ рд░реНрдХреЗ рд╕рднрдо рд░реНрдХреЛрдИ рдЕрдиреНрдо рдмреМрдирддрд░реНрдХ рд╕рдВрдШрд╖рдЯ рдирд╣ рдВ рд╣реИ|
DISCLOSURE IN TERMS OF COMPENSATION:
рд║рдирддрдйреВрдирддрд╛рдХреЗ рд╕рдВрджрдмрд╛ рднреЗрдВ рдкреНрд░рдХрдЯреАрдХрдпрдг:
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.
рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рдХреА рдйреЙрд▓рд░рд╕реА рдЕрдйрдиреЗ рд╡рд╡рд╢реНрд░реЗрд╖рдХреЛрдВ, рдйреЗрд╢реЗрд╡рдпреЛрдВ рдХреЛ рд╡рд╡рд╢реНрд░реЗрд╖рдХ рдХреЗ рд║реЗрддреНрд░ рднреЗрдВ рдХрдХрд╕реА рдмреА рдХрдВ рдйрдиреА рдХреА рдкреНрд░рдирддрдмреВрдирддрдореЛрдВ рдХреЗ
рд╕реНрд╡рд╛рднреА рд╕реЗ рд╡рд╡рд╢реНрд░реЗрд╖рдХреЛрдВ рдХреЛ рд░рдпрдйреЛрдЯрд╛ рдХрдпрдиреЗ рд╕реЗ рдпреЛрдХрддреА рд╣реИред
рд╡рд╡рд╢реНрд░реЗрд╖рдХ рд║рдирддрдйреВрдирддрд╛ : рд╡рд╡рд╢реНрд░реЗрд╖рдХ рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рдХреЗ рд╡реЗрддрди рдЖрдзрд╛рд░рдпрдд рд╕реНрдерд╛рдореА рдХрднрд╛рдЪрд╛рдпреА рд╣реИ |
DISCLOSURE IN TERMS OF PUBLIC APPEARANCE:
рд╕рд╛рд╡рд╛рдЬрдирдирдХрдкреНрд░рдХрдЯрди рдХреЗ рднрд╛рднрд░реЗ рднреЗрдВ рдкреНрд░рдХрдЯреАрдХрдпрдг:
(a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from the subject company in the past twelve months;
(рдЕ) рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рдорд╛ рдЙрд╕рдХреЗ рд╕рд╣рдореЛрдЧреАрдореЛрдВ рдиреЗ рд╡рдйрд┐рд░реЗ 12 рднрд╣реАрдиреЛрдВ рднреЗрдВ рд╡рд╡рд╖рдо рдХрдВ рдйрдиреА рд╕реЗ рдХреЛрдИ рднреБрдЖрд╡рдЬрд╛ рдкреНрд░рд╛рдкреНрдд рдирд╣реАрдВ рдХрдХрдорд╛ рд╣реИ |
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report.
(рдм) рдЕрдиреБрд╕рдВрдзрд╛рди рд░рдпрдйреЛрдЯрдЯ рд░реНрдХреЗ рд╡рд╡рддрдпрдг рд░реНрдХреА рдирддрдЪрде рд╕реЗ рдйреВрд╡рдЯ рдлрд╛рдпрд╣ рднрд╣ рдиреЛрдВ рд░реНрдХреЗ рджреМрдпрд╛рди рд╡рд╡рд╖рдо рд░реНрдХрдВ рдйрдиреА рдЕрдл рдорд╛ рд░реНрдХрдмреА рдмреА рдЧреНрд░рд╛рд╣рд░реНрдХ рдирд╣ рдВ рдпрд╣ рд╣реИред
(c) High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or employee of the subject company;
(рд╕) рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рд░реНрдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рд░реНрдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рдорд╛ рдЙрд╕рд░реНрдХреЗ рд╕рд╣рдореЛрдЧреАрдореЛрдВ рдиреЗ рд╡рд╡рд╖рдо рд░реНрдХрдВ рдйрдиреА рд░реНрдХреЗ рдЕрдЪрдзрд░реНрдХрд╛рдп , рдирдирджреЗрд╢рд░реНрдХ рдорд╛ рд░реНрдХрднрдЯрд┐рд╛рдп рд░реНрдХреЗ рд░реВрдй рднреЗрдВ рд░реНрдХрдмреА рдмреА рд░реНрдХрд╛рдн
рдирд╣ рдВ рдХрд░реНрдХрдорд╛ рд╣реИ
(d) High Brow Market Research Pvt. Ltd. has never been engaged in market making activity for the subject company.
(рдж) рд╣рд╛рдИ рдмреНрд░реЛ рднрд╛рд░реНрдХреЗ рдЯ рдЕрдиреБрд╕рдВрдзрд╛рди рдирдирд╡реЗрд╢ рд╕рд░рд╛рд╣рд░реНрдХрд╛рдп рдкреНрд░рд╛рдЗрд╡реЗрдЯ рд▓рд░рд▓рднрдЯреЗрдб рд╡рд╡рд╖рдо рд░реНрдХрдВ рдйрдиреА рд░реНрдХреЗ рд▓рд░рдП рд░реНрдХрдмреА рдмреА рд╡рд╡рдйрдгрди (рднрд╛рд░реНрдХреЗ рдЯ рднреЗрдХрд░реНрдХрдВ рдЧ) рдЧрдирддрд╡рд╡рдЪрдз рднреЗрдВ рд╢рд╛рд▓рднрд░ рдирд╣ рдВ рдпрд╣рд╛ рд╣реИ ред