This document provides a market wrap-up and analysis for the week ending February 23rd, 2018. It includes the performance of major Indian indices, currency exchange rates, commodity prices, and notable gainers and losers. An economic calendar lists upcoming domestic and global economic data releases. Pivot point support and resistance levels are also provided for Nifty 50 stocks to identify potential price reversal areas.

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2. Monday, March 5, 20182 Copyright © 2018 Ways2Capital. All rights reserved
Market Wrap-Up
MAJOR INDICES
INDEX CLOSING
(As on23
rd
Feb 18)
Weekly Change Weekly Change
(in %)
NIFTY 50 10458.35 75.65 0.73%
NIFTY 100 10820 82.65 0.77%
NIFTY 200 5675.75 49.20 0.87%
NIFTY 500 9225.35 86.85 0.95%
INDIA VIX 14.07 -0.76 -5.12%
NIFTY BANK 24902.55 -52.65 -0.21%
NIFTY AUTO 11146.70 298.75 2.75%
NIFTY FIN SERVICE 10372.6 -24.25 -0.23%
NIFTY FMCG 26692.35 31.65 0.12%
NIFTY IT 12769.45 39.25 0.31%
NIFTY MEDIA 3263.50 -21.85 -0.67%
NIFTY METAL 3960.9 56.6 1.45%
NIFTY PHARMA 8917.75 56.00 0.63%
NIFTY PSU BANK 3021.45 -133.55 -4.23%
NIFTY PVT BANK 14112.35 -167.05 -1.16%
NIFTY REALTY 324.75 5.1 1.60%
CURRENCY MARKET UPDATE
Currency Pair
Current
Closing
Previous
Closing
Weekly Change
(in%)
USDINR 65.38 64.73 1.00%
GBPINR 89.92 90.25 -0.37%
EURINR 79.77 79.61 0.20%
JPYINR 61.27 60.57 1.16%
EURUSD 1.2317 1.2293 0.20%
GBPUSD 1.3800 1.3967 -1.20%
Dollar Index 89.95 89.81 0.16%
COMMODITY MARKET UPDATE
Commodity
Current
Closing
Previous
Closing
Weekly Change
(in %)
Gold COMEX 1323.70 1330.30 -0.50%
Gold MCX 30448 30509 -0.20%
Crude Oil NYMEX 61.47 63.55 -3.27%
Crude Oil MCX 3995 4125 -3.15%
Brent Oil NYMEX 64.55 67.31 -4.10%
Copper MCX 452.80 464.25 -2.47%
Natural Gas MCX 2.712 2.625 3.31%

3. Monday, March 5, 20183 Copyright © 2018 Ways2Capital. All rights reserved
Market At a Glance
NIFTY50 WEEKLY GAINERS
SCRIP
CLOSING
PRICE
WEEKLY
CHANGE (in %)
52 WEEK
HIGH
AUROBINDO
PHARMA
623.00 6.11 808.95
TATASTEEL 675.30 5.87 755.12
UPL LTD 714.60 5.48 902.00
DR. REDDYS
LABS
2228.05 5.03 2948.00
INDIAN OIL
CORP
381.30 4.78 462.60
NIFTY50 WEEKLY LOSERS
SCRIP
CLOSING
PRICE
WEEKLY
CHANGE (in %)
52 WEEK
LOW
ICICI BANK 305.25 -4.01 240.73
SBI 262.55 -3.69 241.25
GAIL 453.10 -2.76 347.00
HIND PETRO 376.85 -1.87 327.35
ZEEL 556.70 -1.73 447.25

4. Monday, March 5, 20184 Copyright © 2018 Ways2Capital. All rights reserved
Economic Calendar
UPCOMING ECONOMIC EVENT CALENDER
Time Currency Event Forecast Previous
Monday, March 5, 2018
7:15 CNY Caixin Services PMI (Feb) - 54.70
15:00 GBP Services PMI (Feb) - 53
20:15 USD Market Compositr PMI (Feb) 55.90 55.9
20:30 USD Services PMI (Feb) 55.9 55.9
20:30 USD ISM Non-Manufacturing PMI (Feb) 59.40 59.90
Tuesday, March 6, 2018
5:31 GBP BRC Retails Sales Monitor(YoY)(Feb) 0.60% -
18:00 USD FOMC Member Dudley Speaks - -
Wednesday, March 7, 2018
18:45 USD ADP Nonfarm Employment Change (Feb) 195K 234K
19:00 USD Nonfarm Productivity (QoQ)(Q4) -0.002 -0.001
21:00 USD Crude Oil Inventories - 3.019M
Thursday, March 1, 2018
8:30 CNY Exports (YoY)(Feb) 9.60% 11.10%
8:30 CNY Imports(YoY)(Feb) 9.80% 36.80%
Friday, March 9, 2018
15:00 GBP Manufacturing Production (MoM) (Jan) 0.30% 0.30%
19:00 USD Nonfarm Payrolls (Feb) 190K 200K
19:00 USD Umployment Rate (Feb) 4.10% 4.10%

5. Monday, March 5, 20185 Copyright © 2018 Ways2Capital. All rights reserved
Weekly Pivots
NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
ADANIPORTS 450.60 436.70 422.80 414.65 408.87 400.70 394.95 381.05 367.15
AMBUJACEM 309.00 291.00 273.00 263.00 254.98 244.95 236.95 218.95 200.95
ASIANPAINT 1199.40 1170.60 1141.80 1130.55 1112.97 1101.70 1084.15 1055.35 1026.55
AUROPHARMA 711.50 679.50 647.50 635.00 615.50 603.00 583.50 551.50 519.50
AXISBANK 636.90 602.50 568.10 547.40 533.68 512.95 499.25 464.85 430.45
BAJAJ-AUTO 3299.35 3209.35 3119.35 3068.70 3029.33 2978.65 2939.30 2849.30 2759.30
BAJFINANCE 1811.35 1759.40 1707.45 1682.95 1655.47 1630.95 1603.50 1551.55 1499.60
BHARTIARTL 475.20 459.45 443.70 435.00 427.92 419.20 412.15 396.40 380.65
BOSCHLTD 20926.20 20238.75 19551.30 19115.65 18863.85 18428.20 18176.40 17488.95 16801.50
BPCL 496.20 476.45 456.70 449.75 436.95 430.00 417.20 397.45 377.70
CIPLA 643.60 625.10 606.60 595.80 588.10 577.30 569.60 551.10 532.60
COALINDIA 347.70 335.75 323.80 318.65 311.82 306.65 299.85 287.90 275.95
DRREDDY 2726.20 2549.25 2372.30 2300.65 2195.32 2123.65 2018.35 1841.40 1664.45
EICHERMOT 31881.35 30391.35 28901.35 28311.70 27411.33 26821.65 25921.30 24431.30 22941.30
GAIL 528.35 505.55 482.75 468.35 459.95 445.55 437.15 414.35 391.55
HCLTECH 1035.65 1006.35 977.05 959.70 947.73 930.35 918.40 889.10 859.80
Continued .......

6. Monday, March 5, 20186 Copyright © 2018 Ways2Capital. All rights reserved
Weekly Pivots
NIFTY50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
HDFC 1978.50 1926.75 1875.00 1845.50 1823.25 1793.75 1771.50 1719.75 1668.00
HDFCBANK 2047.20 1993.45 1939.70 1903.90 1885.93 1850.10 1832.15 1778.40 1724.65
HEROMOTOCO 3902.30 3789.70 3677.10 3628.55 3564.47 3515.90 3451.85 3339.25 3226.65
HINDALCO 281.90 269.10 256.30 248.35 243.50 235.55 230.70 217.90 205.10
HINDPETRO 448.40 426.15 403.90 390.20 381.65 367.95 359.40 337.15 314.90
HINDUNILVR 1454.00 1412.50 1371.00 1348.00 1329.50 1306.50 1288.00 1246.50 1205.00
IBULHSGFIN 1453.85 1391.60 1329.35 1289.20 1267.08 1226.90 1204.80 1142.55 1080.30
ICICIBANK 382.80 359.25 335.70 320.05 312.15 296.50 288.60 265.05 241.50
INDUSINDBK 1868.50 1807.55 1746.60 1723.30 1685.65 1662.35 1624.70 1563.75 1502.80
INFRATEL 393.30 377.00 360.70 352.85 344.37 336.50 328.05 311.75 295.45
INFY 1350.05 1286.20 1222.35 1191.30 1158.47 1127.40 1094.60 1030.75 966.90
IOC 416.75 403.95 391.15 386.60 378.33 373.75 365.50 352.70 339.90
ITC 285.30 278.65 272.00 267.85 265.33 261.15 258.65 252.00 245.35
KOTAKBANK 1181.00 1152.40 1123.80 1109.40 1095.20 1080.80 1066.60 1038.00 1009.40
LT 1475.00 1425.20 1375.40 1345.20 1325.60 1295.40 1275.80 1226.00 1176.20
LUPIN 900.05 870.90 841.75 822.90 812.58 793.70 783.40 754.25 725.10
Continued .......

7. Monday, March 5, 20187 Copyright © 2018 Ways2Capital. All rights reserved
Weekly Pivots
NIFTY50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
M&M 799.00 776.25 753.50 742.25 730.75 719.50 708.00 685.25 662.50
MARUTI 10008.10 9643.20 9278.30 9076.75 8913.40 8711.85 8548.50 8183.60 7818.65
NTPC 177.05 172.55 168.05 165.55 163.52 161.00 159.00 154.50 150.00
ONGC 214.80 206.55 198.30 193.95 190.02 185.65 181.75 173.50 165.25
POWERGRID 212.70 207.20 201.70 199.40 196.20 193.90 190.70 185.20 179.70
RELIANCE 1018.10 994.80 971.50 959.80 948.18 936.45 924.85 901.55 878.25
SBIN 325.30 306.10 286.90 274.55 267.67 255.30 248.45 229.25 210.05
SUNPHARMA 664.35 625.10 585.85 560.55 546.60 521.30 507.35 468.10 428.85
TATAMOTORS 413.40 398.80 384.20 377.15 369.57 362.50 354.95 340.35 325.75
TATASTEEL 773.35 740.70 708.05 690.80 675.38 658.10 642.70 610.05 577.40
TCS 3257.50 3187.55 3117.60 3075.30 3047.65 3005.35 2977.70 2907.75 2837.80
TECHM 688.55 663.55 638.55 624.60 613.52 599.55 588.50 563.50 538.50
ULTRACEMCO 4377.65 4303.70 4229.75 4191.55 4155.77 4117.55 4081.80 4007.85 3933.90
UPL 798.45 771.55 744.65 729.45 717.72 702.50 690.80 663.90 637.00
VEDL 399.65 376.35 353.05 337.80 329.73 314.45 306.40 283.10 259.80
WIPRO 312.35 305.65 298.95 295.50 292.25 288.80 285.55 278.85 272.15
YESBANK 372.75 356.55 340.35 330.25 324.13 314.00 307.90 291.70 275.50
ZEEL 676.75 639.35 601.95 577.50 564.53 540.05 527.10 489.70 452.30

8. Monday, March 5, 20188 Copyright © 2018 Ways2Capital. All rights reserved
Open Interest & Price Analysis
LONG BUILD-UP NIFTY OPTIONS OPEN INTEREST ANALYSIS
Scrip
Change in OI
(in %)
Change in Price
(in%)
Analysis: As per the analysis of above chart.
Major Resistance Level: 10700 followed by
10800. Major Support Levels:- 10400
followed by 10300.
INDIGO 28.58% 2.89%
CHOLAFIN 27.39% 1.47%
IDBI 25.82% 3.93%
GODREJCP 24.61% 2.67%
RAMCOCEM 23.79% 2.87%
SHORT BUILD-UP LONG UNWINDING
Scrip
Change in OI
(in %)
Change in Price
(in%)
Scrip
Change in OI
(in %)
Change in Price
(in%)
BANKINDIA 40.15% -12.27% TORNTPHARM -58.03% -1.07%
PNB 38.80% -11.30% JPASSOCIAT -17.55% -9.84%
PVR 35.51% -4.79% AXISBANK -6.85% -2.40%
CUMMINSIND 33.46% -1.83% JUSTDIAL -2.68% -3.65%
KAJARIACER 30.64% -1.29% RAYMOND -2.24% -1.63%
SHORT COVERING
Scrip
Change in OI
(in %)
Change in Price
(in%)
INFRATEL -23.45% 2.72%
KPIT -15.74% 3.76%
TATAGLOBAL -7.73% 1.19%
POWERGRID -5.38% 1.78%
TVSMOTOR -5.30% 1.89%

9. Monday, March 5, 20189 Copyright © 2018 Ways2Capital. All rights reserved
Nifty Analysis
Fundamental Outlook
Last week, equity benchmark index Nifty Mar Futures witnessed bearish movement in the 2nd half of the week
as market was unable to overcome from the negative sentiments created by the the PnB Scam. PnB Scam
turned as one of the biggest scams in the country’s corporate history and shocked the entire stock market. The
scam worth Rs.11000 crore created too many questions over the Indian banking system and market reacted
with negative sentiments of investors.
Nifty traded with a PE Ratio range of 25.95 – 25.59 during the week and this range increased slightly last week.
Net FII & DII activity remained sideways during the week as investors were fear full in current market scenario.
On Macroeconomic front; data like Federal Fiscal Deficit, Infrastructure Output, GDP Annual, GDP Quarterly etc
were released and provided mixed reaction to the market. For this week, economic data like FX Reserves, USD
and Nikkei Services PMI (Feb) coupled with the FII & DII activity will provide further direction to the market.
Technical Outlook
Last week Nifty Mar Futures started the week on positive note and made a high of 10639.70 however it was
unable to sustain on higher levels and closed at 10456.55 with the overall loss of 0.46% on weekly basis. After
making a lifetime high of 11200 in the month of Jan-18, Nifty Mar Futs made a low of 10309.90 in the 1st week
of Feb-18, which is almost fall of 8.00% from the higher levels.
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 11113.30
R3 10912.80
R2 10712.30
R1 10584.40
PP 10511.80
S1 10383.90
S2 10311.30
S3 10110.80
S4 9910.30
Continued …....

10. Monday, March 5, 201810 Copyright © 2018 Ways2Capital. All rights reserved
Nifty Analysis
Technical Outlook
Technically it’s sustaining above the major support level of 10300 with the negative RSI & also forming bearish
engulfing pattern on weekly charts. It’s also trading in negative territory of technical indicators like 20Days & 50
Days EMA, RSI, Stochastic etc & for this week we can expect further downside movement in it.
WEEKLY STRATEGY
PERTICULAR TARGET
Action SELL
Entry Price ABOVE 10430
Target 10300/10200
Stop Loss 10505
TECHNICAL INDICATOR
ANALYSIS
INDICATOR
CURRENT
TREND
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 10430 it can test the
levels of 10300/ 10200 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs.
10505.

11. Monday, March 5, 201811 Copyright © 2018 Ways2Capital. All rights reserved
Bank Nifty analysis
Technical Outlook
Last week Bank Nifty Mar Futures started the week on positive note but till the end of the week all of its earlier
gains were erased and it closed at 24938.45 with the overall loss of 1.75% on weekly basis. Currently it is in
short term bearish trend & almost witnessed 11% downfall from its lifetime high. It’s sustaining above the major
support level of 24600 and taking support of 200days SMS. Technically for this week, we can expect further
downside movement in it.
WEEKLY STRATEGY
PERTICULAR TARGET
Action SELL
Entry Price Below 24850
Target 24600/24500
Stop Loss 25002
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 28646.15
R3 27466.15
R2 26286.15
R1 25612.30
PP 25106.15
S1 24432.30
S2 23926.15For this week, traders can adopt sell on higher level strategy in it and below the level of 24850 it can test the
levels of 24600/ 24500 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs.
25002.
S3 22746.15
S4 21566.15

12. Monday, March 5, 201812 Copyright © 2018 Ways2Capital. All rights reserved
VOLTAS ( Call of the Week Cash)
Technical Outlook
Last week Voltas cash moved in positive trend and made high of 628.50. As per the technical analysis of chart,
Voltas broke its major resistance level of 610 last week and given closing above this resistance level with the
positive RSI. For Short term, we can expect further upside movement in it.
WEEKLY STRATEGY
PERTICULAR DETAILS
ACTION BUY
ENTRY PRICE ABOVE 624
TARGET 648.80
STOP LOSS 611.80
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 733.85
R3 693.15
R2 652.45
R1 635.70
PP 611.75
S1 595.00
For this week, traders can adopt buy on lower level strategy in it and above the level of 624.00 it can test the
level of 648.80 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 611.80
S2 571.05
S3 530.35
S4 489.65

13. Monday, March 5, 201813 Copyright © 2018 Ways2Capital. All rights reserved
KOTAKBANK ( Call of the Week Cash)
Technical Outlook
Last week Kotak Bank moved in positive trend for the entire week and made high of 1103.85. It closed at
1095.70 with the overall gain of 1.37% on weekly basis. Technically Kotakbank broke its major resistance level of
1100 and sustaining near to those levels & we can expect further upside movement in it.
WEEKLY STRATEGY
PARTICULAR TARGET
ACTION BUY
ENTRY PRICE ABOVE 1104
TARGET 1143.80
Buy 1082.10
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 1181.25
R3 1152.65
R2 1124.05
R1 1109.90
PP 1095.45
S1 1081.30
For this week, traders can adopt buy on lower level strategy in it and above the level of 1104 it can test the level
of 1143.80 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1082.00.
S2 1066.85
S3 1038.25
S4 1009.65

14. Monday, March 5, 201814 Copyright © 2018 Ways2Capital. All rights reserved
M&MFINANCE ( Call of the Week Future )
Technical Outlook
M&MFIN FUT is looking bearish on the chart. Last week stock started the trading with positive note but it lost its
positive momentum on next trading session where a fresh selling was observed and stock started showing
negative trend for whole week and given closing in red. Stock has breached its major support levels of 435 and
trading below this levels
WEEKLY STRATEGY
PARTICULAR TARGET
ACTION SELL
ENTRY PRICE BELOW 415
TARGET 412.20
STOP LOSS 427.20
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 516.85
R3 490.15
R2 463.45
R1 446.40
PP 436.75
S1 419.70
For this week, traders can adopt sell on higher level strategy in it and below the level of 422 it can test the level
of Rs. 412.20 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 427.20
S2 410.05
S3 383.35
S4 356.65

15. 15
DABUR ( Call of the Week Future)
Technical Outlook
DABUR FUTS started the week on negative note and continued its bearish run for whole week and given closing
on negative note. On daily chart it is trading firmly below its important moving averages 21, 50 and 100 (EMA)
which is confirming that stock is in bearish trend. Dabur has gave breakout of its major support levels of 325 and
trading below this levels.
WEEKLY STRATEGY
PARTICULAR TARGET
ACTION SELL
ENTRY PRICE BELOW 324.90
TARGET 319.50
SL 327.30
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 373.80
R3 359.35
R2 344.90
R1 335.90
PP 330.45
S1 321.45
For this week, traders can adopt sell on higher level strategy in it and below the level of 324.90 it can test the
level of Rs. 319.50 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 327.30
S2 316.00
S3 301.55
S4 287.10

16. 16
LEGAL DISCLAIMER
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any further notice. Any browsing through website means acceptance of disclaimer.
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.
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।

17. 17
LEGAL DISCLAIMER
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 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.
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 भार्के ट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटेड मा उसर्के सहमोगी मा उनर्के कर्कसी बी तत्र्कार रयश्तेदाय र्की ववषम र्कं ऩनी भें र्कोई ववत्तीम रुचि नह ं है औय न ह इस तयह र्की ववत्तीम हहत र्की प्रर्कृ नत है|
(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,
(फ) हाई ब्रो भार्के ट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटेड मा उसर्के सहमोगी मा उनर्के कर्कसी बी तत्र्कार रयश्तेदाय र्की ववषम र्कं ऩनी र्की प्रनतबूनतमों भें एर्क प्रनतशत मा उससे अचधर्क र्के वास्तववर्क / पामदेभंद स्वालभत्व नह ं हैं |
(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;
(स) हाई ब्रो भार्के ट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटेड मा उसर्के सहमोचगमों र्को अनुसंधान रयऩोटट र्के प्रर्काशन र्के सभम मा सावटजननर्क रूऩ से उऩस्स्थत होने र्के सभम र्कोई अन्म बौनतर्क संघषट नह ं है|
DISCLOSURE IN TERMS OF COMPENSATION: ऺनतऩूनताके 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: सावाजननकप्रकटन 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 रयऩोटट र्के ववतयण र्की नतचथ से ऩूवट फायह भह नों र्के दौयान ववषम र्कं ऩनी अफ मा र्कबी बी ग्राहर्क नह ं यह 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 भार्के ट अनुसंधान ननवेश सराहर्काय प्राइवेट लरलभटेड मा उसर्के सहमोगीमों ने ववषम र्कं ऩनी र्के अचधर्काय , ननदेशर्क मा र्कभटिाय र्के रूऩ भें र्कबी बी र्काभ