Equity Research Report 29 May 2018 Ways2Capital

HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PRIVATE LIMITED
PHONE: 0731-6554125 | MAIL: SUPPORT@WAYS2CAPITAL.COM | ADD : 515-516, SHAGUN ARCADE,VIJAY NAGAR, INDORE, MP, 452001

2 Copyright © 2018 Ways2Capital. All rights reserved 29/05/2018
CURRENCY MARKET UPDATE
CURRENCY PAIR
CURRENT
CLOSING
PREVIOUS
CLOSING
WEEKLY
% CHANGE
MAJOR INDICES
INDEX
CLOSING
AS ON 25th May 18
WEEKLY CHANGES
WEEKLY
% CHANGE
COMMODITY MARKET UPDATE
COMMODITY
CURRENT
CLOSING
PREVIOUS
CLOSING
WEEKLY
% CHANGE
Market Wrap–Up
Nifty 10605.15 8.75 0.08%
Nifty 100 10934 25.95 0.24%
Nifty 200 5708.85 7.95 0.14%
Nifty 500 9215.55 6.35 0.07%
Nifty VIX 12.65 -1.51 -10.64%
Nifty Bank 26273.55 397.95 1.54%
Nifty Auto 10883.00 -79.75 -0.73%
Nifty Finance 10885.8 102.60 0.95%
Nifty FMCG 28595.80 -256.90 -0.89%
Nifty IT 13762.35 303.20 2.25%
Nifty Media 3228.10 11.05 0.34%
Nifty Metal 3567.4 -23.25 -0.65%
Nifty Pharma 8297.25 85.40 1.04%
Nifty PSU Banks 2950 293.25 11.04%
Nifty PVT Bank 14956.70 92.20 0.62%
Nifty Realty 295.5 -7.25 -2.39%
USDINR 67.7250 67.9850 -0.38%
GBPINR 90.1430 91.5870 -1.58%
EURINR 78.8920 80.0450 -1.44%
JPYINR 61.9375 61.3375 0.98%
EURUSD 1.1650 1.1771 -1.03%
GBPUSD 1.3296 1.3470 -1.29%
Dollar Index 94.21 93.58 0.67%
Gold COMEX 1300.19 1288.26 0.93%
Gold MCX 31189 31091 0.32%
Crude Oil NYMEX 67.64 71.86 -5.87%
Crude Oil MCX 4597 4855 -5.31%
Brent Oil NYMEX 76.33 78.98 -3.36%
Copper MCX 461.80 462.15 -0.08%
Natural Gas NYMEX 2.980 2.847 4.67%

WEEKLY GAINERS
SCRIP
CLOSING
PRICE
WEEKLY
% CHANGE
52 WEEK
HIGH
WEEKLY LOSERS
SCRIP
CLOSING
PRICE
WEEKLY
% CHANGE
52 WEEK
LOW
Market at a Glance
SBI 267.00 11.62% 351.50
BAJAJ FIN-
SERVE
6061.20 5.83% 6085.00
HINDALCO 245.65 5.77% 283.95
BHARTI
AIRTEL
378.00 4.43% 565.00
INFOSYS 1228.80 3.81% 1248.00
VEDANTA 251.90 -6.91% 223.40
HPCL 295.10 -5.45% 272.30
ONGC 175.35 -5.24% 155.30
ULTRATECH
CEM
3676.95 -4.72% 3632.25
TATASTEEL 567.20 -4.11% 454.52

ECONOMIC EVENTS CALENDER
TIME CURRENY EVENT FORECAST PREVIOUS
Economic Calendar
Monday, May 28, 2018
- GBP United Kingdom - Spring Holiday
- USD United States - Memorial Day Holiday
Tuesday, May 29, 2018
18:30 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Mar) 6.40% 6.80%
19:30 USD CB Consumer Confidence (May) 128 128.7
Wednesday, May 30, 2018
5:20 JPY Retail Sales (YoY) (Apr) 1.00% 1.00%
17:45 USD ADP Nonfarm Employment Change (May) 187K 204K
18:00 USD GDP (QoQ) (Q1) 2.30% 2.30%
Thursday, May 31, 2018
5:20 JPY Industrial Production (MoM) (Apr) 1.20% 1.40%
6:30 CNY Manufacturing PMI (May) 51.3 51.4
17:30 INR GDP Quarterly (YoY) (Q4) 7.30% 7.20%
18:00 USD Initial Jobless Claims 225K 234K
19:15 USD Chicago PMI (May) 58 57.6
20:30 USD Crude Oil Inventories - 5.778M
Friday, June 1, 2018
5:20 JPY Capital Spending (YoY) (Q1) - 4.30%
7:15 CNY Caixin Manufacturing PMI (May) 51 51.1
14:00 GBP Manufacturing PMI (May) 53.6 53.9
18:00 USD Nonfarm Payrolls (May) 185K 164K
18:00 USD Unemployment Rate (May) 3.90% 3.90%
19:15 USD Manufacturing PMI (May) - 56.6
19:30 USD ISM Manufacturing PMI (May) 58 57.3

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
Continued .......
Weekly Pivots
ADANIPORTS 462.55 434.70 406.85 393.30 378.98 365.40 351.10 323.25 295.40
ASIANPAINT 1443.00 1391.30 1339.60 1312.80 1287.90 1261.10 1236.20 1184.50 1132.80
AXISBANK 607.00 582.90 558.80 550.00 534.70 525.90 510.60 486.50 462.40
BAJAJ-AUTO 3150.35 3021.70 2893.05 2825.30 2764.38 2696.60 2635.70 2507.05 2378.40
BAJAJFINSV 7363.85 6887.35 6410.85 6247.90 5934.35 5771.40 5457.85 4981.35 4504.85
BAJFINANCE 2456.50 2344.80 2233.10 2176.55 2121.37 2064.80 2009.65 1897.95 1786.25
BHARTIARTL 454.95 426.55 398.15 387.90 369.73 359.45 341.30 312.90 284.50
BPCL 503.15 462.25 421.35 401.35 380.43 360.40 339.50 298.60 257.70
CIPLA 709.00 651.30 593.60 564.60 535.88 506.85 478.15 420.45 362.75
COALINDIA 331.30 312.60 293.90 285.80 275.20 267.10 256.50 237.80 219.10
DRREDDY 2410.65 2261.65 2112.65 2040.25 1963.62 1891.20 1814.60 1665.60 1516.60
EICHERMOT 33073.85 32029.50 30985.15 30592.60 29940.78 29548.20 28896.40 27852.05 26807.70
GAIL 408.15 377.55 346.95 333.90 316.32 303.25 285.70 255.10 224.50
GRASIM 1259.85 1184.00 1108.15 1069.10 1032.30 993.25 956.45 880.60 804.75
HCLTECH 1019.50 982.65 945.80 930.90 908.95 894.05 872.10 835.25 798.40
HDFC 2059.20 1979.25 1899.30 1858.65 1819.33 1778.65 1739.35 1659.40 1579.45

Continued .......
Weekly Pivots
HDFCBANK 2189.10 2124.45 2059.80 2033.90 1995.12 1969.20 1930.45 1865.80 1801.15
HEROMOTOCO 3918.60 3785.95 3653.30 3595.35 3520.63 3462.65 3387.95 3255.30 3122.65
HINDALCO 307.60 284.70 261.80 253.45 238.90 230.55 216.00 193.10 170.20
HINDPETRO 429.40 384.70 340.00 318.25 295.27 273.50 250.55 205.85 161.15
HINDUNILVR 1791.55 1722.20 1652.85 1616.95 1583.48 1547.55 1514.10 1444.75 1375.40
IBULHSGFIN 1433.00 1336.00 1239.00 1202.95 1141.97 1105.90 1044.95 947.95 850.95
ICICIBANK 337.00 322.90 308.80 302.50 294.67 288.35 280.55 266.45 252.35
INDUSINDBK 2232.00 2121.00 2010.00 1962.00 1899.00 1851.00 1788.00 1677.00 1566.00
INFRATEL 351.35 339.85 328.35 321.70 316.85 310.20 305.35 293.85 282.35
INFY 1452.05 1373.40 1294.75 1262.15 1216.07 1183.45 1137.40 1058.75 980.10
IOC 208.35 192.50 176.65 170.45 160.77 154.55 144.90 129.05 113.20
ITC 320.95 305.70 290.45 281.65 275.18 266.35 259.90 244.65 229.40
KOTAKBANK 1475.85 1411.00 1346.15 1320.60 1281.28 1255.70 1216.40 1151.55 1086.70
LT 1450.40 1411.40 1372.40 1355.80 1333.40 1316.80 1294.40 1255.40 1216.40
LUPIN 814.15 789.45 764.75 754.90 740.03 730.15 715.30 690.60 665.90
M&M 990.50 941.80 893.10 876.55 844.40 827.85 795.70 747.00 698.30

Weekly Pivots
MARUTI 9461.35 9130.45 8799.55 8681.80 8468.63 8350.85 8137.70 7806.80 7475.90
NTPC 181.50 176.10 170.70 167.85 165.27 162.40 159.85 154.45 149.05
ONGC 273.50 240.00 206.50 190.85 172.98 157.30 139.45 105.95 72.45
POWERGRID 226.85 221.90 216.95 214.45 211.97 209.45 207.00 202.05 197.10
RELIANCE 1001.95 975.40 948.85 935.45 922.28 908.85 895.70 869.15 842.60
SBIN 347.40 317.95 288.50 277.75 259.02 248.25 229.55 200.10 170.65
SUNPHARMA 562.00 527.30 492.60 480.80 457.88 446.05 423.15 388.45 353.75
TATAMOTORS 397.90 364.75 331.60 312.80 298.43 279.60 265.25 232.10 198.95
TATASTEEL 760.90 696.70 632.50 600.00 568.27 535.75 504.05 439.85 375.65
TCS 4163.30 3969.50 3775.70 3682.80 3581.90 3489.00 3388.10 3194.30 3000.50
TECHM 830.70 787.00 743.30 724.20 699.58 680.45 655.85 612.15 568.45
TITAN 1045.55 1005.10 964.65 944.35 924.18 903.85 883.70 843.25 802.80
ULTRACEMCO 4944.70 4557.45 4170.20 3934.10 3782.92 3546.80 3395.65 3008.40 2621.15
UPL 812.00 772.85 733.70 716.35 694.55 677.20 655.40 616.25 577.10
VEDL 354.55 321.45 288.35 270.30 255.22 237.15 222.10 189.00 155.90
WIPRO 287.90 280.40 272.90 268.85 265.40 261.35 257.90 250.40 242.90
YESBANK 409.55 385.95 362.35 351.85 338.72 328.20 315.10 291.50 267.90
ZEEL 630.25 606.90 583.55 573.80 560.18 550.40 536.80 513.45 490.10

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: 10800
Major Support Levels: 10500
Open Interest & price Analysis
BERGEPAINT 56.08% 6.28%
COLPAL 47.58% 2.47%
PIDILITIND 43.84% 5.30%
PAGEIND 42.06% 6.39%
KPIT 21.84% 3.84%
NIITTECH -23.76% 8.03%
STAR -18.69% 7.97%
NHPC -15.16% 3.82%
SRTRANSFIN -14.86% 6.14%
HAVELLS -13.90% 3.79%
ACC 28.16% -3.65%
IGL 24.75% -3.17%
ADANIPOWER 20.83% -4.96%
ONGC 19.18% -5.39%
CHOLAFIN 19.01% -3.23%
RCOM -14.03% -5.86%
BEML -12.56% -7.08%
SRF -11.63% -2.61%
- - -
- - -

NIFTY WEEKLY PIVOTS
PARTICULAR LEVEL
Fundamental Outlook
During the last week, Equity Index had a roller-coaster ride, which kept lot of traders and investors on their toes.
First half of the week looked very gloomy as we saw index sliding below the important psychological level of 10500
which led by sell off in all the major indices in the world and continues rising price of crude oil. But as weekend was
near a good positive rally was seen in our market in last 2 trading session which again put index above its important
support levels of 10600 which also could be attributed to the sharp fall in crude oil prices in last couple of the days
of the week.
On the Economic front USD/INR shows some relief as first time in last 5 weeks Indian Rupee closed on positive note
with respect to US Dollar. Nifty P/E ratio was in the range of 26.10 to 26.24 for the past week. As far as the FII were
remain in bearish in their approach while DII were main buyers in the last week.
Technical Outlook
Nifty May Future closed the week with marginal WoW gain of 11 points, and closed marginally above its crucial re-
sistance level of 10600. The index recovered from the lows of 10,409 with broad-based positive momentum across
sectors and the stocks in the last two days of the week.
. Continued …....
Nifty Analysis
R4 11181.10
R3 10970.85
R2 10760.60
R1 10682.90
PP 10550.35
S1 10472.65
S2 10340.10
S3 10129.85
S4 9919.60

The markets will see a consolidation in the range of 10,500 to 10,800 levels over the next week. If we observe
the Nifty options chain, most open positions are seen at 10800 calls while 10600 put option shows the most
open positions for put option. If it manages to sustain above the levels of 10600 than it can move further upside
and can test 10800 levels. There could be volatility with respect to rollover movements in individual stocks.
.
Continued …....
TECHNICAL INDICATOR
ANALYSIS
INDICATOR
CURRENT
TREND
WEEKLY STRATEGY
PARTICULAR DETAILS
For this week, traders can adopt buy on lower level strategy in it and above the level of 10640. It can test the
level of Rs. 10795 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 10498.
Nifty Analysis
Action BUY
Entry Price ABOVE 10640
Target 10795
Stop Loss 10498
20 Days EMA POSITIVE
RSI POSITIVE
MACD POSITIVE
STOCHASTIC POSITIVE

BANKNIFTY May Futures started the last week on negative note and continued its bearish run till Wednesday but
in last couple of days was very cheerful for index as it has recovered all its previous three days loss and gave clos-
ing on positive note with 362 points gain on weekly basis. It has crossed its major resistance levels of 26000 on
daily charts and if it manages to trade above these levels then further buying can be seen in it. Major resistance
is placed at 26600 & 26800 levels while support is placed at 26100 & 25800 levels.
WEEKLY STRATEGY
PARTICULAR DETAILS
For this week, traders can adopt buy on lower level strategy in it and above the level of 26300, it can test the
level of Rs. 26600 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 26095.
WEEKLY PIVOTS
PARTICULAR LEVEL
Bank Nifty Analysis
R4 28183.95
R3 27480.55
R2 26777.15
R1 26525.35
PP 26073.75
S1 25821.95
S2 25370.35
S3 24666.95
S4 23963.55
Action BUY
Entry Price BELOW 26300
Target 26600
Stop Loss 26095

Technical Outlook
SBILIFE is looking bullish on long term charts and in short term, stock was in some correction phase. Last week
stock started on negative note but from lower levels, we saw good buying in it. On daily chart stock has given
breakout of falling wedge price pattern. On intraday chart stock has showed good positive movement and if it
manages to sustain above 680.00 level, then upside movement can be seen in it
For this week, traders can adopt buy on lower level strategy in it and above the level of 688.00 it can test the
level of Rs. 720 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 660
SBILIFE CASH ( Call of the Week )
WEEKLY STRATEGY
PARTICULAR DETAILS
WEEKLY PIVOTS
PARTICULAR LEVEL
ACTION BUY
ENTRY PRICE Above 688.00
TARGET 720.00
STOP LOSS 660.00
R4 858.30
R3 798.60
R2 738.90
R1 711.40
PP 679.20
S1 651.70
S2 619.50
S3 559.80
S4 500.10

Technical Outlook
VIPIND is in overall bullish trend and form last couple of weeks, stock was in some consolidation phase. Last
week stock started on positive note and traded with positive bias throughout the week. Stock has crossed its
major resistance levels of 420.00 on daily chart and sustaining on higher levels. On intraday chart, stock has
showed a good positive move after giving the breakout of its important resistance levels of 420 and for this
week, we can expect further upside movement in it.
For this week, traders can adopt buy on lower level strategy in it and above the level of 430.00 it can test the
level of Rs. 450.00 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 415
VIPIND CASH ( Call of the Week )
WEEKLY STRATEGY
PARTICULAR DETAILS
WEEKLY PIVOTS
PARTICULAR LEVEL
R4 595.10
R3 532.20
R2 469.30
R1 447.70
PP 406.40
S1 384.80
S2 343.50
S3 280.60
S4 217.70
ACTION SELL
ENTRY PRICE Below 1915.00
TARGET 1965.00
STOP LOSS 1895.00

Technical Outlook
Last week KOTAKBANK May Futures started the week on negative note and made low of Rs.1243, but in the
later part of the week, all of its earlier losses were erased and it closed at 1295.25 with the marginal gain of
0.30% on weekly basis. It broke major resistance level of 1300 during the week but was unable to close above
the same. Technically it’s consolidating on higher levels with the positive bias and RSI and for this week, we can
expect further upside movement in it.
For this week, traders can adopt buy on lower level strategy in it and above the level of Rs.1305 it can test the
level of Rs.1325 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.1295
KOTAK BANK FUTURES ( Call of the Week )
WEEKLY STRATEGY
PARTICULAR DETAILS
WEEKLY PIVOTS
PARTICULAR LEVEL
Action BUY
Entry Price Above 290.00
Target 297.00
Stop Loss 286.00
R4 2182.45
R3 2086.45
R2 1990.45
R1 1950.95
PP 1894.45
S1 1854.95
S2 1798.45
S3 1702.45
S4 1606.45

Technical Outlook
Last week INDUSINDBK May Futures started the week in negative note and made low of 1837.90 in the initial
part of the week. In the later part of the week, it moved in positive trend and broke the major resistance level
of Rs.1900 and give closing above this level. Technically it sustaining above major resistance level of 1900 with
the positive RSI and for this week, we can expect further upside movement in it.
For this week, traders can adopt buy on lower level strategy in it and above the level of Rs.1915 it can test the
level of Rs.1965 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.1895
INDUSIND BANK FUTURES ( Call of the Week )
WEEKLY STRATEGY
PERTICULAR DETAILS
WEEKLY PIVOTS
PARTICULAR LEVEL
R4 1467.10
R3 1405.10
R2 1343.10
R1 1319.20
PP 1281.10
S1 1257.20
S2 1219.10
S3 1157.10
S4 1095.10
ACTION BUY
ENTRY PRICE Above 1305.00
TARGET 1325.00
STOP LOSS 1295.00

LEGAL DISCLAIMER (कानूनी अस्वीकयण) :
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 assess-
ment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only.
मह दस्तावेज़ Ways2Capital (हाई ब्रो भाके ट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटेड का एक बाग) द्वाया तैमाय ककमा गमा है | महां ऩय दी गई जानकायी, ववश्रेषण औय अनुभान Ways2Capital इक्ववटी / कभोडडटी अनुसंधान के भूलमांकन ऩय आधारयत हैं औय ववश्वसनीम स्रोतों
से प्राप्त की गई है | मह दस्तावेज़ के वर इक्छित प्राप्तकताा के उऩमोग के लरए ही है |
This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant for general information only. Ways2Capital Equity/Commodities Research, its directors, officers or employees shall not in any way to be responsible for the contents
stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in thisconnection. This document is not to be considered as an offer to sell or a solicitation to buy any securities or
commodities.
मह दस्तावेज़, सवोत्तभ रूऩ से, Ways2Capital इक्ववटी / कभोडडटीज अनुसंधान का प्रनतननधधत्व कयता है औय साभान्म जानकायी के लरए ही है | Ways2Capital इक्ववटी / कभोडडटीज अनुसंधान, इसके ननदेशकों, अधधकायी मा कभाचायी ककसी बी तयह से संफंधधत
साभग्री के लरए क्जम्भेदाय नहीं है।| Ways2Capital इक्ववटी / कभोडडटीज अनुसंधान ककसी बी औय सबी उत्तयदानमत्वों को स्ऩष्ट रूऩ से अस्वीकाय कयता है जो इस संफंध भें सूचना, त्रुटटमों मा चूक से ऩैदा हो सकता है| इस दस्तावेज को ककसी बी प्रनतबूनत मा वस्तु
को खयीदने के लरए फेचने मा एक आग्रह के लरए प्रस्ताव के रूऩ भें नहीं भाना जा सकता है|
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.
उऩयोवत सबी सूचना, स्तय औय सुझाव, Ways2Capital के ववशेषऻ के ऩैनर द्वाया ककए गए तकनीकी औय भौलरक अनुसंधान के आधाय ऩय दी गई हैं, रेककन हभ टदए गए सुझावों की त्रुटटमों के लरए कोई दानमत्व स्वीकाय नहीं कयते हैं | वेफसाइट के भाध्मभ से सकपिं ग कयने
वारे रोगों को अऩनी ऩसंद के उत्ऩाद सेवाओं को चुनने का अधधकाय है|
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.
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

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

Equity Research Report 29 May 2018 Ways2Capital

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Similar to Equity Research Report 29 May 2018 Ways2Capital

Similar to Equity Research Report 29 May 2018 Ways2Capital (12)

More from ways2capitalindore

More from ways2capitalindore (20)

Recently uploaded

Recently uploaded (20)

Equity Research Report 29 May 2018 Ways2Capital