RESEARCH RECOMMENDATION ON MULTI TIC STRATEGY - CURRENCY

INTRODUCTION TO STRATEGY
This is a High Risk and High Return Strategy. Under this research based trading technique investors trade on six very clearly defined, in-house developed technical trading strategies which automatically generates Buy or Sell Signals on multiple Time Frame, on multiple Currencies (between 3 to 4 currency pairs). Since there is multiple

ADVANTAGES OF THE STRATEGY

1. No bias or manual intervention as Buy and Sell signals are generated by an in-house developed mechanical trading model. 2. Diversification of risk as clients take trades in multiple currencies and using multiple strategies. 3. When market is going up generally clients are on the Buy Side and when market is going down generally clients are into Sell Side. 4. Excellent strategy in a trendy market (uptrend and downtrend) and conservative strategy in range bound market. 5. High Risk and High Return Strategy.

Time

Frame, multiple Indicators and

multiple Currencies that is why this strategy is being referred as Multi TIC strategy. The currencies for which research sends its recommendation are USD/INR, EUR/INR, GBP/INR and JPY/INR. Essentially under this trading system the net sum of Buy and Sell signals which are generated under each strategy for each of the currencies across various time frames is calculated by multiplying by a set multiplier and net quantity order is recommended to be executed accordingly. There is very high frequency of trades and past performance doesn't guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. An investor should use his/her own judgement while taking investment decisions. Multi TIC Strategy - Currency is a research product where clients trade on the Multi TIC Strategy and SMC Research provide only the strategy.

RISK FACTORS
1. Suitable only for high risk appetite investors. 2. Risk of capital loss as higher leverage strategy. 3. Risk of execution: In a volatile market one may not be able to execute the trade/square off the position due to price circuit breaker or less depth in the market. 4. Impact cost of trading may be high due to volatility in the market. 5. Risk of gap down/gap up in the prices, can result in substantial losses. 6. High frequency of trades/substantial trading volume resulting in higher brokerage and transaction charges. 7. Risk of unexpected square off of trades due to shortfall in the margin/MTM.

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RESEARCH RECOMMENDATION ON MULTI TIC STRATEGY - CURRENCY

SCREENSHOT OF MULTI TIC STRATEGY - CURRENCY

Note: Screen shot have been taken on 02/03/2012 at 02.52 p.m.

Note: There is a risk of loss while trading in currency derivatives. Trade with risk capital only. Past observation is not a guarantee for future gain. SMC Research would only provide research recommendation based on this strategy and it is the client who would be responsible for all his trades and profit & losses.

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RESEARCH RECOMMENDATION ON MULTI TIC STRATEGY - CURRENCY

PERFORMANCE Summary of Performance of Multi TIC Strategy - Currency for the Period from 1st Jan 2012 to 31st Jul 2012
S.No. 1 2 3 4 5 6 7 Trading Months Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Total Return In Absolute Term (%) 6.45% 5.20% 2.02% 0.81% 10.24 % 0.77% -3.77% 21.72%

Total fund invested: INR 10,00,000 * Returns are after brokerages and expenses. Past performance is not indicative & does not guarantee any future performance. This is a Derivative & Leverage Strategy. Investors should exercise do care against the inherent risk associated with the Derivative Strategy.

Disclaimer
This report is for the personal information of the authorized recipient and doesn't construe to be any investment, legal or taxation advice to you. It is only for private circulation and use. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. SMC assures no liability in respect of any trade entered into based on this research report by the Client / or on his behalf and on his reliance on the inputs made available by the SMC. The Client alone shall be entitled/responsible for any financial results of his transactions. No action is solicited on the basis of the contents of the report. The report should not be reproduced or redistributed to any other person(s)in any form without prior written permission of the SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees shall be responsible for any loss or damage that may arise to any person due to any action taken on the basis of this report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn't guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own judgment while taking investment decisions. Please note that we and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance if this material;(a) from time to time, may have long or short positions in, and buy or sell the currencies thereof, of company (ies) mentioned here in or (b) be engaged in any other transaction involving such currencies and earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed herein or may perform or seek to perform investment banking services for such company(ies) or act as advisor or lender/borrower to such company(ies) or may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of Delhi High court.