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
 Market Wrap–Up

MAJOR INDICES CURRENCY MARKET UPDATE

CLOSING WEEKLY CURRENT PREVIOUS WEEKLY
INDEX WEEKLY CHANGES CURRENCY PAIR
AS ON 20th April 18 % CHANGE CLOSING CLOSING % CHANGE
Nifty 10564.05 83.45 0.80% USDINR 66.0850 65.2900 1.22%
Nifty 100 10966.85 87.50 0.80% GBPINR 92.7725 93.1525 -0.41%
Nifty 200 5765.95 48.65 0.85% EURINR 81.3275 80.4625 1.08%
Nifty 500 9347.65 87.50 0.86% JPYINR 61.3950 60.6600 1.21%
Nifty VIX 12.94 -1.20 -8.49% EURUSD 1.2282 1.2333 -0.41%
Nifty Bank 24943.85 -256.75 -1.02% GBPUSD 1.4022 1.4264 -1.70%
Nifty Auto 11440.10 -25.20 -0.22% Dollar Index 90.08 89.50 0.65%
Nifty Finance 10501.4 -68.55 -0.65% COMMODITY MARKET UPDATE
Nifty FMCG 28110.95 1128.05 4.18% CURRENT PREVIOUS WEEKLY
COMMODITY
CLOSING CLOSING % CHANGE
Nifty IT 13910.35 649.90 4.90%
Gold COMEX 1338.30 1347.90 -0.71%
Nifty Media 3377.50 27.70 0.83%
Gold MCX 31432 31118 1.01%
Nifty Metal 3891.45 166.00 4.46% Crude Oil NYMEX 68.38 67.39 1.47%
Nifty Pharma 8819.80 89.20 1.02% Crude Oil MCX 4531 4408 2.79%
Nifty PSU Banks 2799.1 -142.10 -4.83% Brent Oil NYMEX 74.06 72.58 2.04%
Nifty PVT Bank 14163.40 -160.15 -1.11% Copper MCX 458.75 442.75 3.61%
Nifty Realty 310.2 9.30 3.09% Natural Gas NYMEX 2.739 2.735 0.15%

2 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Market at a Glance

WEEKLY GAINERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE HIGH

HINDALCO 262.10 10..22% 283.95

TCS 2402.45 7.90% 3422.35

HCLTECH 1062.35 7.17% 1074.20

BHARTIARTL 402.00 6.38% 565.00

CIPLA 589.05 6.04% 663.00

WEEKLY LOSERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE LOW

HINDPETRO 299.05 -10.40% 297.10

BPCL 371.40 -8.39% 370.00

AXISBANK 505.70 -6.79% 447.80

TATA-
336.00 -5.90% 324.30
MOTORS

SBIN 241.20 -3.89% 232.50

3 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Economic Calendar
ECONOMIC EVENTS CALENDER
TIME CURRENY EVENT FORECAST PREVIOUS
19:15 USD Manufacturing PMI (Apr) 55 55.6
19:15 USD Services PMI (Apr) 54 54
19:30 USD Existing Home Sales (MoM) (Mar) 0.20% 3.00%
19:30 USD Existing Home Sales (Mar) 5.55M 5.54M
Tuesday, April 24, 2018
18:30 USD S&P/CS HPI Composite (YoY) (Feb) 6.20% 6.40%
19:30 USD CB Consumer Confidence (Apr) 125 127.7
19:30 USD New Home Sales (MoM) (Mar) 1.90% -0.60%
19:30 USD New Home Sales (Mar) 629K 618K
Wednesday, April 25, 2018
2:00 USD API Weekly Crude Oil Stock - -1.047M
20:00 USD Crude Oil Inventories -1.429M -1.071M
20:00 USD Cushing Crude Oil Inventories - -1.115M
Thursday, April 26, 2018
18:00 USD Cap Goods Ship Non Defense Ex Air (MoM) - 1.40%
18:00 USD Core Durable Goods Orders (MoM) (Mar) 0.40% 1.00%
18:00 USD Durable Goods Orders (MoM) (Mar) 1.00% 3.00%
18:00 USD Goods Trade Balance (Mar) - -75.88B
Friday, April 27, 2018
14:00 GBP GDP (YoY) (Q1) 1.40% 1.40%
14:00 GBP GDP (QoQ) (Q1) 0.30% 0.40%
18:00 USD Employment Cost Index (QoQ) (Q1) 0.70% 0.60%
18:00 USD GDP (QoQ) (Q1) 2.30% 2.90%
4 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018
 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

ADANIPORTS 429.80 414.80 399.80 390.65 384.78 375.60 369.75 354.75 339.75
ASIANPAINT 1301.85 1255.60 1209.35 1183.95 1163.08 1137.65 1116.80 1070.55 1024.30
AXISBANK 644.15 602.20 560.25 533.60 518.28 491.60 476.30 434.35 392.40
BAJAJ-AUTO 3145.75 3042.85 2939.95 2898.00 2837.03 2795.05 2734.10 2631.20 2528.30
BAJAJFINSV 5915.95 5724.05 5532.15 5415.50 5340.25 5223.60 5148.35 4956.45 4764.55
BAJFINANCE 2226.30 2116.55 2006.80 1943.90 1897.02 1834.10 1787.25 1677.50 1567.75
BHARTIARTL 481.85 452.30 422.75 412.25 393.20 382.70 363.65 334.10 304.55
BPCL 512.10 469.55 427.00 399.00 384.42 356.40 341.85 299.30 256.75
CIPLA 711.90 667.95 624.00 607.00 580.02 563.00 536.05 492.10 448.15
COALINDIA 329.10 315.85 302.60 297.00 289.33 283.70 276.05 262.80 249.55
DRREDDY 2325.85 2254.90 2183.95 2151.00 2112.98 2080.00 2042.00 1971.05 1900.10
EICHERMOT 33707.35 32819.15 31930.95 31505.45 31042.72 30617.20 30154.50 29266.30 28378.10
GAIL 397.40 375.70 354.00 343.50 332.27 321.75 310.55 288.85 267.15
GRASIM 1265.95 1207.90 1149.85 1126.65 1091.78 1068.55 1033.70 975.65 917.60
HCLTECH 1330.10 1232.00 1133.90 1095.45 1035.77 997.30 937.65 839.55 741.45
HDFC 2053.00 1987.20 1921.40 1878.95 1855.57 1813.10 1789.75 1723.95 1658.15
Continued .......

5 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
HDFCBANK 2070.30 2029.15 1988.00 1973.85 1946.85 1932.70 1905.70 1864.55 1823.40
HEROMOTOCO 4155.75 4020.75 3885.75 3811.50 3750.73 3676.45 3615.70 3480.70 3345.70
HINDALCO 352.25 320.00 287.75 275.40 255.47 243.10 223.20 190.95 158.70
HINDPETRO 428.90 389.50 350.10 324.30 310.70 284.90 271.30 231.90 192.50
HINDUNILVR 1651.65 1584.35 1517.05 1494.60 1449.72 1427.25 1382.40 1315.10 1247.80
IBULHSGFIN 1516.70 1464.40 1412.10 1385.55 1359.80 1333.25 1307.50 1255.20 1202.90
ICICIBANK 331.30 316.10 300.90 291.70 285.70 276.50 270.50 255.30 240.10
INDUSINDBK 2063.25 1986.00 1908.75 1861.90 1831.50 1784.65 1754.25 1677.00 1599.75
INFRATEL 384.80 367.80 350.80 341.20 333.78 324.15 316.75 299.75 282.75
INFY 1433.55 1341.85 1250.15 1214.90 1158.45 1123.20 1066.75 975.05 883.35
IOC 194.50 183.50 172.50 166.25 161.50 155.25 150.50 139.50 128.50
ITC 331.95 311.95 291.95 283.85 271.92 263.80 251.90 231.90 211.90
KOTAKBANK 1257.70 1225.20 1192.70 1175.40 1160.18 1142.85 1127.65 1095.15 1062.65
LT 1493.50 1451.55 1409.60 1389.15 1367.65 1347.20 1325.70 1283.75 1241.80
LUPIN 921.40 879.15 836.90 818.45 794.62 776.15 752.35 710.10 667.85
M&M 906.85 871.25 835.65 816.90 800.05 781.30 764.45 728.85 693.25

Continued .......

6 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Weekly Pivots
NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
MARUTI 9794.05 9562.00 9329.95 9182.85 9097.90 8950.80 8865.85 8633.80 8401.75
NTPC 206.15 195.75 185.35 180.30 174.93 169.85 164.50 154.10 143.70
ONGC 203.50 196.55 189.60 185.95 182.62 178.95 175.65 168.70 161.75
POWERGRID 243.05 230.25 217.45 212.50 204.63 199.65 191.80 179.00 166.20
RELIANCE 1014.15 987.15 960.15 945.10 933.13 918.05 906.10 879.10 852.10
SBIN 283.65 270.65 257.65 249.75 244.62 236.70 231.60 218.60 205.60
SUNPHARMA 569.50 549.60 529.70 517.60 509.78 497.65 489.85 469.95 450.05
TATAMOTORS 401.40 381.10 360.80 348.45 340.47 328.10 320.15 299.85 279.55
TATASTEEL 723.65 684.30 644.95 626.00 605.57 586.60 566.20 526.85 487.50
TCS 4250.50 3938.90 3627.30 3520.65 3315.70 3209.05 3004.10 2692.50 2380.90
TECHM 840.85 789.05 737.25 716.70 685.43 664.85 633.60 581.80 530.00
TITAN 1126.90 1074.25 1021.60 990.80 968.92 938.10 916.25 863.60 810.95
ULTRACEMCO 4935.30 4636.95 4338.60 4215.35 4040.25 3917.00 3741.90 3443.55 3145.20
UPL 862.70 828.80 794.90 780.95 760.97 747.00 727.05 693.15 659.25
VEDL 383.60 356.75 329.90 319.45 303.05 292.60 276.20 249.35 222.50
WIPRO 343.80 327.10 310.40 304.10 293.70 287.40 277.00 260.30 243.60
YESBANK 351.90 338.45 325.00 317.00 311.52 303.50 298.05 284.60 271.15
ZEEL 662.15 637.10 612.05 600.35 586.98 575.25 561.90 536.85 511.80

7 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Open Interest & price Analysis

LONG BUILD-UP SHORT COVERING NIFTY OPTIONS OPEN INTEREST ANALYSIS

CHANGE IN PRICE CHANGE CHANGE IN PRICE CHANGE

SCRIP SCRIP
OI (In %) (In %) OI (In %) (In %)

DCBBANK 52.37% 8.54% NIITTECH -22.97% 8.03%

VGUARD 44.78% 5.47% GODREJIND -10.11% 4.65%

OFSS 31.78% 7.05% - - -

NATIONALUM 31.71% 11.92% - - -

MINDTREE 24.49% 13.25% - - -

SHORT BUILD-UP LONG UNWINDING

CHANGE IN PRICE CHANGE CHANGE IN PRICE CHANGE
SCRIP SCRIP
OI (In %) (In %) OI (In %) (In %)

CICIPRULI 32.05% -5.45% RCOM -15.05% -8.04%

Analysis : As per the analysis of above
BPCL 30.92% -8.39% - - - chart.
Major Resistance Level: 10700
ENGINERSIN 23.80% -4.56% - - - Major Support Levels:- 10500.

TITAN 23.43% -2.89% - - -

ORIENTBANK 21.43% -6.80% - - -

8 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Nifty Analysis

NIFTY WEEKLY PIVOTS

Fundamental Outlook
PARTICULAR LEVEL
Last week started on positive note and witnessed 4th straight weekly gain. FII DII activity remains contrast to each
R4 11035.85
other during the entire week as we have seen buying from DII in whole week while FII remain bearish in their ap-
proach. Nifty P/E ratio was in the range of 26.13 to 26.23 for the past week. R3 10869.85
On Macroeconomic front; data like FX Reserves, WPI Inflation, WPI Manufacturing etc released last week but none
R2 10703.85
of them created major impact on the market. For this week, important economic data like Bank Loan Growth, De-
posit Growth coupled with the FII & DII activity and geopolitical scenario around the world will further direction to
R1 10644.70
the market.
PP 10537.85
Technical Outlook
S1 10478.70
Amid strong global cues and above expected earnings by index heavyweights Equity benchmarks extended gains for
a fourth successive week. IT, FMCG, metals (+4% each) led the sector chart. We expect the index to take some cor- S2 10371.85
rection after four-week rally and consolidate in a broad range of 10630-10400. In Nifty options front, we saw build-
S3 10205.85
up in 10600 and 10700 call options along with decent unwinding in 10400 and 10500 strikes.

S4 10039.85

Continued …....

9 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Nifty Analysis

On the flip side, 10500 and 10600 put options added good amount of OI, suggesting immediate strong support WEEKLY STRATEGY
around 10500-10550 levels. Maximum open interest concentration for April series is placed at 10700 call and
PERTICULAR DETAILS
10500 put options. For this week, we can expect sideways to negative movement in it.
Action SELL

Entry Price Below 10550

Target 10410/ 10300

Stop Loss 10625

TECHNICAL INDICATOR
ANALYSIS
CURRENT
INDICATOR
TREND
20 Days EMA POSITIVE

50 Days EMA POSITIVE

200 Days EMA POSITIVE

For this week, traders can adopt sell on higher level strategy in it and below the level of 10550, it can test the RSI POSITIVE

level of Rs. 10410 & 10300 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. MACD POSITIVE

10625. STOCHASTIC NEGATIVE

Continued …....

10 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Bank Nifty Analysis
BANK NIFTY Apr Futures started the last week on positive note and traded with positive sentiments. But Bulls WEEKLY STRATEGY
could not make control on index after first trading session as index remain under pressure in other trading ses- PERTICULAR DETAILS
sion due to major sell off in PSU banks which lead index to close on negative note. Index is trading near its major Action SELL
support levels of 24800 and any break below these levels could trigger further sell off in it.
Entry Price Below 24850

Target 24620/ 24500

Stop Loss 25011

WEEKLY PIVOTS
PARTICULAR LEVEL
R4 26863.55

R3 26277.60

R2 25691.65

R1 25348.85

PP 25105.70

S1 24762.90

S2 24519.75
For this week, traders can adopt sell on higher level strategy in it and below the level of 24850, it can test the
S3 23933.80
level of Rs. 24620/ 24500 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs.
S4 23347.85
25011

11 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 PVR Cash ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
PVR is in bullish trend from last one month and from last couple of days, stock was in some consolidation PERTICULAR DETAILS
phase. Last week stock started on positive note and traded with bullish movement but could not continue its ACTION BUY
bullish run throughout the week. Now it has crossed the resistance levels and trading firmly above 1350 levels
ENTRY PRICE Above 1365.00
and on daily chart and candle pattern shows good strength in buying.
TARGET 1419.00

STOP LOSS 1333.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 1448.45

R3 1406.45

R2 1364.45

R1 1340.90

PP 1322.45

S1 1298.90

S2 1280.45
For this week, traders can adopt buy on lower level strategy in it and above the level of 1365 it can test the
S3 1238.45
level of Rs. 1419 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1333.
S4 1196.45

12 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 ZEEL Cash ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
ZEEL is in overall bullish trend on the chart. It started the last week on positive note and showed good positive PERTICULAR DETAILS
rally on upside. On daily chart it showed a good consolidation on higher levels and also formed inverse H&S ACTION BUY
price pattern. Stock is trading above its 21, 50 & 100 days EMA and MACD Histogram is firmly placed at 1.18 ENTRY PRICE Above 602.00
which is further giving buy signals.
TARGET 625.00

STOP LOSS 590.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 661.85

R3 636.80

R2 611.75

R1 599.75

PP 586.70

S1 574.70

S2 561.65
For this week, traders can adopt buy on lower level strategy in it and above the level of 602 it can test the level
S3 536.60
of Rs. 625 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 590.
S4 511.55

13 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 INDUSIND BANK Futures ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Last week INDUSIND BANK started the week on negative note due to profit booking from higher levels but still PERTICULAR DETAILS

sustained above the major psychological level of 1800. It closed at 1815.80 with the overall loss of 2.11% on ACTION BUY

weekly basis. Technically it’s sustaining above the 1800 level with the positive RSI, near to its life time high & ENTRY PRICE Above 1877.00
we can further expect good upside rally in it. TARGET 1920.00

STOP LOSS 1850.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 2063.05

R3 1984.55

R2 1906.05

R1 1860.90

PP 1827.55

S1 1782.40

For this week, if it breaks the level 1877 then it can test the level of 1920 during the week. One can make buy S2 1749.05

position in it by maintaining a SL 1850. S3 1670.55

S4 1592.05

14 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 ADANIPORTS Futures ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Last week ADANIPORTS started the week on positive note and continued the same for the entire week. It made PERTICULAR DETAILS

a high of 393.65 during the week and closed at 382.55. Technically on chart, it’s sustaining above the trend line ACTION BUY

breakout with the good consolidation & positive RSI and for this week we can expect good upside movement ENTRY PRICE Above 389.50

in it. TARGET 395.50

STOP LOSS 386.50

WEEKLY PIVOTS
PARTICULAR LEVEL
R4 425.80

R3 412.35

R2 398.90

R1 390.70

PP 385.45

S1 377.25

S2 372.00
For this week, if it breaks the level 389.50 then it can test the level of 395.50 during the week. One can make S3 358.55
buy position in it by maintaining a SL 386.50
S4 345.10

15 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Disclaimer
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 भाकेट अनस

ु ध
ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड का एक बाग) द्वाया तैमाय ककमा गमा है | महां ऩय दी गई जानकायी, ववश्रेषण औय अनभ
ु ान Ways2Capital इक्ववटी / कभोडडटी अनस
ु ध
ं ान के भल
ू मांकन ऩय आधारयत हैं औय ववश्वसनीम स्रोतों

से प्राप्त की गई है | मह दस्तावेज़ केवर 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 this connection. 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 ननदे शकों, 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, त्रटु टमों 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 सच ु ाव, Ways2Capital के ववशेषऻ के ऩैनर द्वाया ककए गए तकनीकी औय भौलरक अनस
ू ना, स्तय औय सझ ु ध
ं ान के आधाय ऩय दी गई हैं, रेककन हभ टदए गए सझ
ु ावों की त्रटु टमों के लरए कोई दानमत्व स्वीकाय नहीं कयते हैं | वेफसाइट के भाध्मभ से सकपिंग कयने

वारे रोगों को अऩनी ऩसंद के उत्ऩाद सेवाओं को चन

ु ने 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 , कंऩनी इन सुझावों ऩय ककए गए ककसी बी नुकसान के लरए उत्तयदामी नहीं होगी | मह स्तय बववष्म के कीभतों की गनत का संकेत नहीं दे ते है | वेफसाइट के भाध्मभ से ककसी बी ब्राउक्ज़ंग का

अथा है अस्वीकयण की स्वीकृनत।

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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी कंऩननमां अनुसंधान रयऩोटा भें शालभर कंऩननमों 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 कंऩनी औय उसके कोई बी प्रनतननधध फाज़ाय भें ट्रे ड नहीं कयें गे।

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.

16 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018

 Disclaimer
ग्राहकों को मह सराह दी जाती है कक वे रयऩोटा भें दी गई जानकायी को केवर याम के रूऩ भें दे खें औय ननवेश के लरए स्वमं पैसरा कयें | ग्राहकों को वेफसाइट ऩय प्रकालशत सेवाओं के ननमभों औय शतों को ऩढ़ने औय सभझने की बी सराह दी जाती है | कंऩनी के

ननगभन के फाद ननमाभक ननकाम द्वायाकंऩनी 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 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 भाकेट अनुसध
ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड द्वाया ननमुवत हैं | इस रयऩोटा भें व्मवत सबी ववचाय कंऩनी के फाये भें व्मक्वतगत ववचायों को दशााता है औय कंऩननमों 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कंऩनी भें कोई ववत्तीम रुधच नहीं है औय न ही इस तयह की ववत्तीम टहत की प्रकृनत 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगी मा उनके ककसी बी तत्कार रयश्तेदाय की ववषम कंऩनी की प्रनतबूनतमों भें एक प्रनतशत मा उससे अधधक के वास्तववक / पामदे भंद 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड 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 ( ऺनतऩनू ता 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड की ऩॉलरसी अऩने ववश्रेषकों, ऩेशव
े यों को ववश्रेषक के ऺेत्र भें ककसी बी कंऩनी की प्रनतबूनतमों के स्वाभी से ववश्रेषकों को रयऩोटा कयने से योकती है ।

ववश्रेषक ऺनतऩूनता : ववश्रेषक हाई ब्रो भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने वऩिरे 12 भहीनों भें ववषम कंऩनी 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 कंऩनी 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 भाकेट अनुसंधान ननवेश सराहकाय प्राइवेट लरलभटे ड मा उसके सहमोगीमों ने ववषम कंऩनी के अधधकायी, ननदे शक मा कभाचायी के रूऩ भें कबी बी काभ

17 Copyright © 2018 Ways2Capital. All rights reserved 23/04/2018