Last week, equity benchmark index Nifty Feb Futures witnessed bearish movement in the 2nd half of the week after the PnB Scam came in limelight. PnB Scam turned as one of the biggest scams in the country’s corporate

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2. Monday, February 19, 20182 Copyright © 2018 Ways2Capital. All rights reserved
Market Wrap-Up
MAJOR INDICES
INDEX CLOSING
(As on16
th
Feb 18)
Weekly Change Weekly Change
(in %)
NIFTY 50 10452.30 -124.55 -1.18%
NIFTY 100 10831.35 -127.6 -1.16%
NIFTY 200 5681.40 -59.95 -1.04%
NIFTY 500 9235.6 -87 -0.93%
INDIA VIX 16.38 -1.40 -7.85%
NIFTY BANK 25163.9 -756.75 -2.92%
NIFTY AUTO 11114.55 -229.65 -2.02%
NIFTY FIN SERVICE 10464.9 -192 -1.80%
NIFTY FMCG 26599.05 -187.55 -0.70%
NIFTY IT 12437.95 -150.4 -1.19%
NIFTY MEDIA 3313.55 -98.10 -2.88%
NIFTY METAL 3991.6 55.15 1.40%
NIFTY PHARMA 9180.90 -81.55 -0.88%
NIFTY PSU BANK 3189.05 -334.3 -9.49%
NIFTY PVT BANK 14168.60 -54.70 -0.03%
NIFTY REALTY 327.2 0.35 0.11%
CURRENCY MARKET UPDATE
Currency Pair
Current
Closing
Previous
Closing
Weekly Change
(in%)
USDINR 64.22 64.38 0.38%
GBPINR 90.17 89.08 -1.64%
EURINR 79.66 78.76 -1.44%
JPYINR 0.60 0.59 1.60%
EURUSD 1.24 1.22 -1.82%
GBPUSD 1.40 1.38 -2.02%
Dollar Index 89.10 90.33 1.45%
COMMODITY MARKET UPDATE
Commodity
Current
Closing
Previous
Closing
Weekly Change
(in %)
Gold COMEX 1348.40 1314.59 -1.62%
Gold MCX 30816.00 30009.00 -1.08%
Crude Oil NYMEX 61.51 59.15 -9.55%
Crude Oil MCX 3941.00 3807.00 -9.05%
Brent Oil NYMEX 64.89 62.73 -8.44%
Copper MCX 461.50 432.90 -4.38%
Natural Gas MCX 2.58 2.63 -9.21%

3. Monday, February 19, 20183 Copyright © 2018 Ways2Capital. All rights reserved
Market At a Glance
NIFTY50 WEEKLY GAINERS
SCRIP
CLOSING
PRICE
WEEKLY
CHANGE (in %)
52 WEEK
HIGH
TATASTEEL 688.30 2.52 755.12
RELIANCE 921.70 2.00 990.00
ASIAN PAINTS 1145.00 1.87 1261.25
VEDANTA 319.10 1.77 355.70
DRREDDYS LABS 2212.75 1.55 2955.00
NIFTY50 WEEKLY LOSERS
SCRIP
CLOSING
PRICE
WEEKLY
CHANGE (in %)
52 WEEK
LOW
SBIN 271.75 -9.85 241.25
BHARTI
INFRATEL
325.75 -6.92 283.10
YES BANK 311.90 -6.91 275.15
AXIS BANK 537.75 -5.41 447.80
ICICI BANK 321.00 -4.05 240.75

4. Monday, February 19, 20184 Copyright © 2018 Ways2Capital. All rights reserved
Economic Calendar
UPCOMING ECONOMIC EVENT CALENDER
Time Currency Event Forecast Previous
Monday, February 19, 2018
All Day USD United States- Washington's Birthday Holiday All Day
All Day CNY China- Lunar New Year Holiday All Day
Tuesday, February 20, 2018
All Day CNY China- Lunar New Year Holiday All Day
15:30 GBP Inflation Report Hearing - -
Wednesday, February 21, 2018
15:00 GBP Average earnings Index +Bonus (Dec) 2.50% 2.50%
15:00 GBP Cliamant Count Change (Jan) 5.4K 8.6K
15:00 GBP Unemployment Rate (Dec) 4.30% 4.30%
20:15 USD Manufacturing PMI (Feb) 55.00 55.5
20:15 USD Markit Composite PMI - 53.80
20:15 USD Services PMI (Feb) 54.00 53.30
Thursday, February 22, 2018
19:00 USD API Weekly Crude Oil Stock - 3.947M
19:00 USD FOMC member Kashkari Speaks - -
19:00 GBP Business Investment (QoQ) (Q4) 0.50% 0.50%
19:00 GBP GDP (YoY) (Q4) 1.50% 1.50%
19:00 GBP GDP (QoQ) (Q4) 0.50% 0.50%
19:45 USD Initial Jobless Claims - -
Thursday, February 22, 2018
23:30 USD U.S. Baker Hughes Oil Rig Count 0.60% -1.50%

5. Monday, February 19, 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 454.40 438.80 423.20 415.15 407.57 399.50 391.95 376.35 360.75
AMBUJACEM 284.40 275.60 266.80 261.65 257.97 252.80 249.15 240.35 231.55
ASIANPAINT 1201.70 1181.70 1161.70 1153.35 1141.67 1133.30 1121.65 1101.65 1081.65
AUROPHARMA 667.90 643.75 619.60 604.65 595.43 580.45 571.25 547.10 522.95
AXISBANK 646.25 613.25 580.25 559.50 547.25 526.50 514.25 481.25 448.25
BAJAJ-AUTO 3358.70 3277.80 3196.90 3149.95 3115.97 3069.00 3035.05 2954.15 2873.25
BAJFINANCE 1876.55 1807.90 1739.25 1705.90 1670.58 1637.20 1601.90 1533.25 1464.60
BHARTIARTL 474.05 457.50 440.95 430.40 424.40 413.85 407.85 391.30 374.75
BOSCHLTD 20093.40 19914.00 19734.60 19639.80 19555.17 19460.35 19375.75 19196.35 19016.95
BPCL 527.75 508.45 489.15 477.20 469.85 457.90 450.55 431.25 411.95
CIPLA 705.15 675.65 646.15 627.80 616.63 598.25 587.10 557.60 528.10
COALINDIA 343.70 330.30 316.90 309.90 303.47 296.45 290.05 276.65 263.25
DRREDDY 2393.35 2332.35 2271.35 2241.70 2210.33 2180.65 2149.30 2088.30 2027.30
EICHERMOT 31480.85 30206.90 28932.95 28167.00 27658.98 26893.00 26385.00 25111.05 23837.10
GAIL 528.85 508.85 488.85 478.60 468.85 458.60 448.85 428.85 408.85
HCLTECH 1070.85 1029.10 987.35 960.20 945.58 918.40 903.80 862.05 820.30
Continued .......

6. Monday, February 19, 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 2034.00 1957.75 1881.50 1849.80 1805.25 1773.55 1729.00 1652.75 1576.50
HDFCBANK 1995.90 1956.20 1916.50 1898.45 1876.80 1858.75 1837.10 1797.40 1757.70
HEROMOTOCO 3927.10 3795.40 3663.70 3579.00 3531.98 3447.25 3400.25 3268.55 3136.85
HINDALCO 293.65 278.70 263.75 255.60 248.80 240.65 233.85 218.90 203.95
HINDPETRO 428.15 415.65 403.15 395.10 390.63 382.55 378.10 365.60 353.10
HINDUNILVR 1442.50 1411.65 1380.80 1366.75 1349.95 1335.90 1319.10 1288.25 1257.40
IBULHSGFIN 1481.00 1416.60 1352.20 1310.60 1287.80 1246.20 1223.40 1159.00 1094.60
ICICIBANK 370.50 355.30 340.10 330.95 324.87 315.70 309.65 294.45 279.25
INDUSINDBK 1829.85 1775.05 1720.25 1685.70 1665.43 1630.85 1610.60 1555.80 1501.00
INFRATEL 403.20 379.60 356.00 342.25 332.40 318.65 308.80 285.20 261.60
INFY 1252.95 1209.10 1165.25 1144.95 1121.37 1101.05 1077.50 1033.65 989.80
IOC 408.85 398.60 388.35 381.70 378.08 371.40 367.80 357.55 347.30
ITC 293.30 285.05 276.80 271.50 268.53 263.20 260.25 252.00 243.75
KOTAKBANK 1136.95 1107.60 1078.25 1065.15 1048.88 1035.75 1019.50 990.15 960.80
LT 1468.80 1425.25 1381.70 1355.85 1338.15 1312.30 1294.60 1251.05 1207.50
LUPIN 909.15 883.35 857.55 842.30 831.73 816.45 805.90 780.10 754.30
Continued .......

7. Monday, February 19, 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 835.50 807.50 779.50 761.00 751.50 733.00 723.50 695.50 667.50
MARUTI 9964.40 9621.25 9278.10 9063.05 8934.95 8719.90 8591.80 8248.65 7905.50
NTPC 173.10 169.85 166.60 164.65 163.33 161.35 160.05 156.80 153.55
ONGC 213.30 205.30 197.30 192.10 189.28 184.05 181.25 173.25 165.25
POWERGRID 213.15 207.40 201.65 198.50 195.90 192.75 190.15 184.40 178.65
RELIANCE 1043.35 1002.80 962.25 941.35 921.70 900.80 881.15 840.60 800.05
SBIN 345.00 322.65 300.30 285.85 277.95 263.50 255.60 233.25 210.90
SUNPHARMA 719.25 673.65 628.05 601.55 582.43 555.90 536.80 491.20 445.60
TATAMOTORS 407.90 396.10 384.30 377.40 372.50 365.60 360.70 348.90 337.10
TATASTEEL 796.10 762.80 729.50 708.75 696.17 675.40 662.85 629.55 596.25
TCS 3260.20 3159.85 3059.50 2995.25 2959.12 2894.85 2858.75 2758.40 2658.05
TECHM 691.10 658.60 626.10 606.00 593.60 573.50 561.10 528.60 496.10
ULTRACEMCO 4533.70 4417.95 4302.20 4228.70 4186.42 4112.90 4070.65 3954.90 3839.15
UPL 801.10 771.30 741.50 723.30 711.70 693.50 681.90 652.10 622.30
VEDL 372.75 355.45 338.15 329.10 320.83 311.75 303.50 286.20 268.90
WIPRO 321.10 311.10 301.10 296.30 291.10 286.30 281.10 271.10 261.10
YESBANK 402.30 374.75 347.20 329.60 319.62 302.00 292.05 264.50 236.95
ZEEL 647.10 622.85 598.60 583.10 574.32 558.80 550.05 525.80 501.55

8. Monday, February 19, 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: 10600 followed by
11100. Major Support Levels:- 10400
followed by 10000
VGUARD 20.85% 5.24%
RAMCOCEM 13.35% 1.49%
NCC 12.66% 9.20%
JISLJALEQS 11.69% 1.06%
FEDERALBNK 10.88% 1.26%
SHORT BUILD-UP LONG UNWINDING
Scrip
Change in OI
(in %)
Change in Price
(in%)
Scrip
Change in OI
(in %)
Change in Price
(in%)
PNB 56.34% -19.89% BATAINDIA -20.83% -2.36%
REPCOHOME 35.84% -5.99% BALRAMCHIN -9.92% -3.35%
FORTIS 31.91% -7.13% ESCORTS -6.45% -3.89%
SBIN 30.57% -8.23% RELCAPITAL -5.80% -2.60%
MOTHERSUMI 26.84% -9.50% DISHTV -4.99% -1.76%
SHORT COVERING
Scrip
Change in OI
(in %)
Change in Price
(in%)
CEATLTD -22.02% 5.17%
CANFINHOME -20.52% 8.18%
IGL -14.72% 1.91%
SIEMENS -14.60% 2.66%
CHOLAFIN -13.90% 2.53%

9. Monday, February 19, 20189 Copyright © 2018 Ways2Capital. All rights reserved
Nifty Analysis
Fundamental Outlook
Last week, equity benchmark index Nifty Feb Futures witnessed bearish movement in the 2nd half of the week
after the PnB Scam came in limelight. 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. Net FII & DII activity
remained negative during the week as investors were fear full in current market scenario.
Nifty traded with a PE Ratio range of 25.48 – 25.32 during the week and this ratio is reducing gradually from last 3
week. On Macroeconomic front; data like CPI and WPI released and they further acted as the catalyst for the
negative movement in index. For this week, important economic data like Infrastructure Output, GDP Annual,
GDP Quarterly coupled with the FII & DII activity will provide further direction to the market.
Technical Outlook
In last Week Nifty Feb Futures showed selling from the key hurdle of 10630 to settle the truncated week on a
flat note as profit booking emerged across sectors. The weekly price action formed a small bear candle, with its
long upper shadow indicating continued profit booking around 10640.
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 11053.65
R3 10869.60
R2 10685.55
R1 10568.95
PP 10501.50
S1 10384.90
S2 10317.45
S3 10133.40
S4 9949.35
Continued …....

10. Monday, February 19, 201810 Copyright © 2018 Ways2Capital. All rights reserved
Nifty Analysis
Technical Outlook
Over the past seven sessions, on five occasions, the Nifty made failed attempts to surpass the key hurdle of
10640, resulting formation of broad range of 10600-10300.In coming week we expect the Nifty to extend its
bearish move if it breach its major support levels of 10400.
WEEKLY STRATEGY
PERTICULAR TARGET
Action SELL
Entry Price BELOW 10400
Target 10300/ 10200
Stop Loss 10500
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 10400 it can test the
level of Rs. 10300 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 10500.

11. Monday, February 19, 201811 Copyright © 2018 Ways2Capital. All rights reserved
Bank Nifty analysis
Technical Outlook
Last week Bank Nifty Feb 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 25128.60 with the overall loss of 1.26% on weekly basis. Currently it is in
short term bearish trend & RSI is also sustaining below 50 levels. Technically for this week, we can expect
further downside movement in it.
WEEKLY STRATEGY
PERTICULAR TARGET
Action SELL
Entry Price BELOW 25100
Target 24900/24700
Stop Loss 25280
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 27486.40
R3 26777.05
R2 26067.70
R1 25615.80
PP 25358.35
S1 24906.45
S2 24649.00
For this week, traders can adopt sell on higher level strategy in it and below the level of 25100 it can test the
levels of 24900/ 24700 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs.
25280.
S3 23939.65
S4 23230.30

12. Monday, February 19, 201812 Copyright © 2018 Ways2Capital. All rights reserved
NCC ( Call of the Week Cash)
Technical Outlook
NCC NSE cash is trading in consolidation phase for short term and stock made a rage of 121 to 127 in last couple
of trading sessions. On daily chart, it is trading firmly above its important moving averages 21, 50 and 100 (EMA)
which confirming stocks bullish run. RSI the major indicator is also in positive zone and indicating further upside
move in the stock.
WEEKLY STRATEGY
PERTICULAR DETAILS
ACTION Buy
ENTRY PRICE Above 127
TARGET 132
STOP LOSS 124
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 171.95
R3 155.70
R2 139.45
R1 132.25
PP 123.20
S1 116.00
For this week, traders can adopt buy on lower level strategy in it and above the level of 127 it can test the level
of Rs. 132 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 124.
S2 106.95
S3 90.70
S4 74.45

13. Monday, February 19, 201813 Copyright © 2018 Ways2Capital. All rights reserved
ESCORT ( Call of the Week Cash)
Technical Outlook
ESCORTS NSE Cash is looking bullish on the chart. In short term it was in correction phase and it has shown a
good strength in buying after its correction phase and gave positive closing on last trading session. It is trading
above its important moving averages 21, 50 and 100 (EMA) which is indicating fresh buying from the lower
levels.
WEEKLY STRATEGY
PARTICULAR TARGET
ACTION Buy
ENTRY PRICE Above 896
TARGET 924
Buy 880
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 1045.90
R3 992.90
R2 939.90
R1 908.80
PP 886.90
S1 855.80
For this week, traders can adopt buy on lower level strategy in it and above the level of 896 it can test the level
of Rs. 824 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 880.
S2 833.90
S3 780.90
S4 727.90

14. Monday, February 19, 201814 Copyright © 2018 Ways2Capital. All rights reserved
HCLTECH ( Call of the Week Future )
Technical Outlook
HCLTECH Feb Futures is looking bearish on the charts as it has given breakout of its major trend line on daily
chart and sustaining below that. It’s also trading and sustaining below its major support levels of Rs.950. Trend
confirming indicator moving averages is also suggesting that it is in bearish trend as it is trading below its 21, 50
and 100 EMA on the charts.
WEEKLY STRATEGY
PARTICULAR TARGET
ACTION Buy
ENTRY PRICE Below 923
TARGET
905.82
STOP LOSS 932.7
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 1074.25
R3 1032.35
R2 990.45
R1 965.10
PP 948.55
S1 923.20
For this week, traders can adopt sell on higher level strategy in it and below the level of 923 it can test the level
of Rs. 905.85 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 932.70.
S2 906.65
S3 864.75
S4 822.85

15. Monday, February 19, 201815 Copyright © 2018 Ways2Capital. All rights reserved
CIPLA ( Call of the Week Future)
Technical Outlook
Last week, CIPLA Feb Futures started the week on positive note as a sharp upside rally was seen in the stock on
Monday’s trading session but stock lack the further buying and due to which it was traded with negative
sentiments for the remaining sessions. It closed on negative note above the major support levels of 600 and for
this week we can expect good downside after breach of this level.
WEEKLY STRATEGY
PARTICULAR TARGET
ACTION Buy
ENTRY PRICE Below 601
TARGET 589
SL 607.1
WEEKLY PIVOTS
PARTICULAR LEVELS
R4 717.85
R3 684.55
R2 651.25
R1 631.30
PP 617.95
S1 598.00
For this week, traders can adopt sell on higher level strategy in it and below the level of 601 it can test the level
of Rs. 589 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 607.10
S2 584.65
S3 551.35
S4 518.05

16. Monday, February 19, 201816 Copyright © 2017 Ways2Capital. All rights reserved
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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. Monday, February 19, 201817 Copyright © 2017 Ways2Capital. All rights reserved
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