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Monthly Update From Mansukh

(For Private Circulation Only)

Issue : November 2011

Contents

Market Review

Global Snapshot

Economy Update

Technical Picks

Fundamental Picks

Market Tutorials

Commodity Section

Auxiliary Section

FROM THE DESK OF RESEARCH


iwali - the festival of lights brought cheers back to the Indian stock markets as encouraging developments from the global front helped markets participants in shrugging sluggish domestic developments. A week after plunging by around one and half a percent, Indian equity indices demonstrated an action-packed performance in the holiday shortened week and jumped to highest levels in around two months. The frontline i n d i c e s skyrocketed by over six percent in the passing week and even went on to regain the important psychological 5,350 (Nifty) and 17,800 (Sensex) bastions. On the domestic front, the markets which had already factored in a 25 basis point rate hike by Reserve Bank gave a muted reaction to the Reserve Bank of India's thirteenth interest rate since March 2010. Meanwhile sentiments also got a lift from reports that the government has given its nod for the long-awaited National Manufacturing Policy (NMP) which seeks to set up mega industrial zones and create 100 million jobs by 2022. Marketmen even went on to overlook the discouraging weekly inflation data which accelerated to the highest levels in over six months despite the central bank's ongoing liquidity tightening measures. But the earnings season progressed on an uninspiring note as FMCG bellwether ITC announced in line earnings while the Union Bank of India reported weaker than expected earnings in the week. On the global front, sentiments got bolstered after the European policy makers approved a three-pronged agreement which will

help in easing Greece's debt burden and strengthen banks and the European bailout fund. As per the tripartite agreement, private investors would accept a loss of 50% on Greek bonds, which will cut Greece's debt burden to 120% of GDP by 2020, banks will be forced to raise more capital to protect them against losses resulting from any future defaults and approved a crucial mechanism to boost the EFSF to an estimated 1 trillion

Volume* & Volatility Index (Nifty - Oct 2011)


3000 2000
147.9 143.3 88.1 94.9 91.3 89.1 92.8 21.9

Cash (Rs bn)

F & O (Rs bn)

Volatility %

30 20
107.1

1000 0

10 0

*NSE 18-Oct 19-Oct 20-Oct 21-Oct 24-Oct 25-Oct 26-Oct 28-Oct 31-Oct

Call Put Analysis (Nifty Nov 2011 series)


48 49 52 36 40 25 33 35
60 50

Call Put OI in Lakhs


47 8 2 25

19

19

30 20 10 0

29

33

40

16

4500 4600 4700 4800 4900 5000

10

5100 5200 5300 5400 5500 5600

euro. Investors' morale got further propped up because of the US GDP data which showed that the world's largest economy gathered additional steam and expanded at a better than expected pace of 2.5% annual rate in the third quarter on stronger consumer spending and business investment, easing concerns that the US was on the verge of a double-dip recession. For the upcoming month 5415-5430 could be the key resistance zone. Any break out above this level with substantial volumes may lift the domestic sentiments and we might see 5570-5600 in short span of time. On the flip side 5150-5170 could be the key support zone. HAPPY TRADING.

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14

GLOBAL SNAPSHOT

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OCTOBER BRINGS SOME SMILE FOR US INVESTORS


The DJIA, the principal index of US stock prices, has climbed over 1200 points in October, breaking a record set in April 1999 while the S&P 500 Index is on way to end October with its finest month since 1974. Concurrently as the euro discussion a series of economic reports together with this week's GDP figures spot in the direction of recovery in the US economy and away from signs of another dip. The latest US government figures demonstrate US gross domestic product (GDP) grew at an annualized 2.5% in the third quarter, a muscular improvement on the 1.3% annualized enlargement posted in the second quarter and a whole lot better than the miserable 0.4% reported in the first quarter. With the stage show in Europe, nowadays-inflowing quieter phases we believe US investors were once more spotlighting on their home market. The commerce department accounted on Friday that private consumption expenditures soared by 0.6% in September. That followed a 0.2% rise in August. The most recent Euro news came as Klaus Regling, the head of euro-bailout fund the European financial stability facility (EFSF) met with Zhu Guangyao, a Chinese vice-finance minister, in Beijing Friday. European leaders, led by France's Nicholas Sarkozy, are trying to convince the Chinese to invest more money in the EFSF. GLOBAL MARKETS: Meanwhile Asia pacific stocks, widening an advance that started on Thursday (27/10/2011), rushed to an eight week high on Friday (28/12011), after European leaders set a plan to include the regions sovereign-debt and banking crisis that included a 50% write down on Greek government debt seized by private bondholders and a boost to the region's bailout fund. Asian shares rallied for a second day on Friday with many regional markets hitting highs as investor confidence grew after the talk of world's largest economy, US slipping into recession got a halt after the quarterly data illustrated the largest jump for the US economy in more than a year, which also sparked a overnight gain at Wall Street. The US markets closed mixed on Friday (28/10/2011), amid lot of volatility as data on consumer confidence and spending failed to boost equities a day after European leaders expanded the region's bailout plan. Equities pared losses in the final minutes and the S&P 500 closed in green completing its fourth straight weekly advance, the longest since January. The Commerce Department reported that consumers' spending picked up last month, increasing 0.6% after a 0.2% growth in August. Incomes

advanced 0.1% in September after falling 0.1% the prior month, and the nation's savings rate fell to nearly a four-year low. Separately, University of Michigan stated that its index of consumer sentiment increased in the final review to 60.90 in October from 59.4 in September. The preliminary estimate for the month was 57.5. Emotion got strengthen after the European policy makers approved a three-pronged agreement which will help in easing Greece's debt burden and strengthen banks and the European bailout fund. As per the tripartite agreement, private investors would accept a loss of 50% on Greek bonds, which will cut Greece's debt burden to 120% of GDP by 2020, banks will be forced to raise more capital to protect them against losses resulting from any future defaults and approved a crucial mechanism to boost the EFSF to an estimated 1 trillion euro. Morale of investors globally also was buttressed because of an impressive US economic report which showed that the GDP gathered additional steam and expanded at a better than expected pace of 2.5% annual rate in the third quarter, easing concerns that the US was on the verge of a double-dip recession. The U.S. economy cultivated at its fastest pace in a year in the third quarter as consumers and businesses stepped up spending, creating momentum that could carry into the final three months of the year.

Global & U.S. Manufacturing activities

Euro Zone default dominoes

Source: reutersindia.com

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ECONOMY UPDATE

FDI SHOWS HANDSOME RECOVERY HOWEVER INFLATION STILLS A DEEP WORRY


billion during the week ended October 21, 2011. The increase in valuation of Foreign Currency Assets pulled the forex kitty higher during the reporting week. Valuation of foreign currency assets increased $861 million in the week to $282.514 billion. This figure excludes investment worth Rs 1,903 crore/ $380 million invested in foreign currency denominated bonds issued by IIFC (UK). Further, foreign currency assets expressed in US dollar terms include the effect of appreciation /depreciation of non-US currencies (such as euro, sterling, yen) held in reserves. The value of gold in the reserves remained unchanged to $28.667 billion during the week. This valuation includes Rs 31,463 crore ($6,699 million) reflecting the purchase of 200 metric tonne of gold from IMF on November 3, 2009. The country's reserve position in the IMF also witnessed a drop of $1 million during the week ended October 21, 2011 to $2.635 billion. Reserve position in the IMF, i.e., Reserve Tranche Position (RTP) which was shown as a memo item from May 23, 2003 to March 26, 2004 has been included in the reserves from the week ended April 2, 2004 in keeping with the international best practice. On the other hand India's food inflation inched up to 11.43%, breaching the psychological barrier for the week ended October 15 from 10.60% in the previous week. The weekly food inflation measured by the Wholesale Price Index (WPI) is at 6-month high, sustaining the pressure on overall inflation and the Reserve Bank of India (RBI). The surge was mainly on the back of relentless rise in prices of vegetables, fruits, milk and protein-rich items. According to the data released by the Ministry of Commerce and Industry, the index for 'Food Articles' group rose by 0.2% to 200.8 (Provisional) from 200.3 (Provisional) for the previous week due to higher prices of condiments and spices (3%), gram, fish-marine and maize(2% each) and pork (1%). Meanwhile the ministry of finance indicated that it is likely to approve capital infusion into public sector banks, including State Bank of India by mid-November. In the current financial year, the capital requirement of PSU banks has been estimated between Rs 10,00020,000 crore. The committee is examining proposals for capital requirement during the current fiscal as well as for long-term (2021). By that time banks will have to meet Basel II norms as well. As India is set to implement Basel III norms on capital adequacy, in coming ten years, PSU banks would need around Rs 3.5 lakh crore.

Despite the slowdown in global economy, Foreign Direct Investment (FDI) in India jumped by 95% in the first five months of the 2011-12. According to the ministry of commerce and industry's data, FDI in April-August 2011 stood at $17.37 billion as compared to $8.887 billion during April-August 2010. In the first seven months of the current calendar year, foreign investments surged by 50% to $20.76 billion compare $13.85 in the same period of last year. On monthon-month basis, FDI in August stood at $2.83 billion compare to $1.099 billion in July. July's FDI inflow was the lowest figure in 2011-12, which indicate the slowdown in the global economy has affected the pace of capital inflow. However, experts have the view that the government should further streamline polices and make the environment more conducive to the overseas investments. In order to attract foreign investment, the government had relaxed FDI norms. The government had also relaxed norms for FDI in construction of old age homes and educational institutes and without lock in period rules. The major sectors attracting overseas investment in the country are service (financial and non financial services), Telecommunication, housing and real estate and power sector. The major investing countries are Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE. According to the latest press release from the Reserve Bank of India (RBI), the country's forex reserves increased by $858 million to $318.358

India raised Repo Rate by 25bps to 8.5%

FDI flows in India

Source: reutersindia.com

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TECHNICAL PICKS

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TECHNICAL ANALYSIS
Pantaloon Retail (India) is India's leading retail chain and part of Indian conglomerate Future Group. It operates retail space spread over 11 million square feet. It has a network of more than 1000 stores across 63 cities in India and has employee strength of 30,000 people. Pantaloon Retail (India) is planning to mop up Rs 1,500 crore by issuing equity-linked securities amounting to stake dilution of about 15 percent. In this regard, the company has got its board approval. The securities could be either convertible instrument, convertible into shares, debt instruments with attached warrants giving right to the holder of such warrants to subscribe for Equity/Class B Shares, issue of Equity/Class B shares. Further, the company's board directed that, it should ensure that overall dilution of equity through aforesaid is within 15% and the debt equity ratio is not to exceed 1.33. The company's promoters had 44.92% stake in the firm as on June, 2011. On technical perspective, after taking significant correction from the highs of Rs 310, scrip has shown crucial resistance below Rs 170 level. At current juncture we believe scrip has the potential to recover from the current level as its technical indicators i.e. RSI and MACD also suggest some technical pull back in near term. Hence we recommended 'Buy' in this stock.

PANTALOON RETAIL (INDIA) LTD

SCRIP NAME

TRIGGER PRICE

TARGET 1

TARGET 2

STOP LOSS

DURATION

PANTALOON

175-180

160

210

225

1 Month

Federal Bank is the fourth-largest private lender in the country and the largest in Kerala, with a balance sheet of Rs 81,000 crore as of September 30. The company's net profit for the quarter rose 36.15% at Rs 191.16 crore as compared to Rs 140.40 crore for the quarter ended September 30, 2010. Its net sales has increased by 32.29% to Rs 1484.79 crore for the quarter under review from Rs 1122.38 crore for the similar quarter of the previous year. Federal Bank, a Kerala-based private sector bank, has opened 66 new branches on October 18, 2011. Of the new branches inaugurated 12 are in Gujarat, 10 in Karnataka, 9 in Tamil Nadu and 6 in Maharashtra. The way forward for Federal Bank is to scale up on its strength in new territories. This move is in line with its vision of becoming the most trusted partner for the SME, retail and NRI customer segments. Recently, in a bid to expand the services and facilitate its customer to bank under single roof the bank is eyeing to foray into equity broking services business. The Kerala-based bank is also keen on starting investment banking services but is yet to formally move to the regulators and exchanges in this regard. On technical viewpoint, stock has shown double bottom formation around Rs 340 and currently in upward bias. In close proximity scrip has given crucial break out above its 200 DMA (Rs 400) which itself a bullish indicator in near term. Moreover it's RSI and other technical indicators also displaying some buying opportunities in near term. Hence investors are advised to BUY this stock for a price target of Rs 440-460 in near term.

FEDERAL BANK LTD

SCRIP NAME

TRIGGER PRICE

TARGET 1

TARGET 2

STOP LOSS

DURATION

FEDERAL BK

390-400

370

440

460

1 Month

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FUNDAMENTAL PICKS

FUNDAMENTAL PICK
HCL Technologies Ltd
HCL Technologies, a leading global IT services company offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. It provides services to industry sectors including financial services, manufacturing, aerospace & defense, telecom, retail & CPG, life sciences & healthcare, media & entertainment, travel, transportation & logistics, automotive, government, energies & utilities. With offices in 26 countries and partnerships with several leading firms, it is a leader in providing IT services to its clients restructuring the core of their businesses. Financials: The Top Line of HCL Tech grew at CAGR of 17.5% over the last five years (FY06-11), bottom Line and Operating Profit of the company for the same period grew at CAGR of 13.5% and 16% respectively. In FY11, the Net Sales of HCL Tech jumped 34% to Rs 6794.48 crore over FY10, Operating Profit of company surged 12% to Rs 1516.37 crore and PAT also increased by 13.4% to Rs 1198.28 crore. In Q1FY12 (Sep 2011), the Net Sales of the company grew by 32%, Operating Profit grew by 71% and PAT phenomenally jumped 104%. The OPM for the same period stood around 24% while PAT margin was 20%. INVESTMENT GROUNDS Indian IT exporters generate more than 90% of their revenue from the developed economy and any unfavorable economic conditions in these developed countries affects the growth of IT sector in India. As we can see that right now due to current economic uncertainty the IT sector has been impacted, though dollar appreciated against rupee and played a vital role to offset several revenue losses for the past quarter. However, in forth coming period the situation is likely to improve as many global software providers expressed that uncertainty has failed to affect software and services spending. On the other hand, the individual efficiency of IT companies like increasing outsourcing contracts and introducing new business models can make them competent for this environment. Timely contract Execution Track Record is an advantage With the new contracts worth Rs US$2bn during past six months, HCL Tech is focusing to obtain more large deals. HCL Tech featured among TPI's Global 6 IT Services providers by TCVs awarded, across all the three regions of the world has won multiple transformational deals and has a record of accomplishment to deliver them with timely execution with excellent customer supports. It has collaborated with Apacheta to provide global delivery of mobile sales, delivery and merchandising solutions to consumer goods industry to enhance operational efficiencies & provide improved time-to-market benefits.

Target Price: 510


New service factory delivery model will help to pact more deals HCL Tech recently entered into a strategic 5-year deal with Deutsche Bank's Capital Markets arm. The service factory delivery model implemented by HCL will enhance productivity driven by transparent Service Level Agreements and performance metrics. This deal is one of the significant milestones in the strategic roadmap that has been charted by the company and it is delighted to continue along this journey with Deutsche Bank. Moreover, the leading global banks are also looking for ways to improve their application product management, in order to increase efficiency and enhance productivity, which would give HCL an opportunity to grab such kind of deals in near term. To enhance the productivity joined hands with other IT majors HCL Tech has also signed MOU with Etisalat to offer collaborative ICT services to customers. As per the agreement, they both together will work together to explore the possibility of collaboration for offering joint ICT solutions to business customers in the areas of Mobility, Cloud Computing and advanced ICT services. To strengthen its Software Assessment Services, HCL has also joined hands with CAST, a world leader in software analysis and measurement. CAST AIP tool that allows analysis will augment assessment service to HCL's worldwide clients, and measurement of essential structural quality attributes.

Quarter & Year Ended Sep-11 Sep-10 %Chg JUN-FY11 Net Sales (Rs Cr) 1979.22 1498.32 32.1 6794.48 Operating Profit (Rs Cr) 475.54 278.32 70.9 1516.37 OPM% (Chg in bps) 24.03 18.58 545 22.32 PAT (Rs Cr) 397.55 194.88 104.0 1198.28 PATM% (Chg in bps) 20.09 13.01 708 17.64 EPS (Rs) 5.76 3.46 2.9 17.4 Dividend (%) 0 0 0 375 Equity (Rs Cr) 137.96 136 1.4 137.74 Data Matrix as on 01.11.2011 Key Financial Ratios (TTM) CMP (Rs) 430.75 P/E (x) TTM 21.22 52- Week High (Rs) 528.4 P/BV (x) TTM 4.91 52- Week Low (Rs) 360.1 EV/TTM EBIDTA (x) 15.28 Latest Book Value (Rs) 87.65 EV/TTM Sales (x) 4.08 Face Value (Rs) 2 MCap/ TTM Sales( x) 4.09 Total No of Shares (Cr) 68.98 Total Debt/Equity (x) 0.18 Avg. Monthly Vol. (Lakhs) 10.04 ROA (%) 18.12 Market Cap (Rs Cr) 29,728 ROE (%) 23.08 Beta (Sensex) 1.16 ROCE (%) 21.04 Industry P/E 19.55 Dividend Yield (%) 1.74 Major Shareholders as on 30 Sep 2011 Promoters (%) 64.27 FIIs (%) 20.51 Non-Institutions (%) 8.51 DIIs (%) 6.71

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MARKET TUTORIALS

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OPTIONS STRATEGY BEAR PUT SPREAD


Remember that, in our first option strategy tutorial we have discussed an option strategy called Bull Call Spread, that strategy is known as a bullish option strategy, employed when the options trader expects the underlying stock price to move upwards. Now in this edition we will discuss Bear Put Spread, which is the reverse of a Bull Call Spread and works the same way in the opposite direction. Bear Put Spread involves simultaneously purchase of a put option on a particular underlying stock, and writing a put option on the same underlying stock with the same expiration month, but with a lower strike price. This kind of spread generally categorized as Vertical Spread because you have to pay some amount of money to hold this position, which is also known as a Debit Spread.

When & How to use Bear Put Spread? Bear Put Spread is a type of options strategy used when an option trader expects a decline in the price of the underlying asset. Bear Put Spread is achieved by purchasing put options at a specific strike price while also selling the same number of puts at a lower strike price. In fact, this option strategy is also a method to buy put options at a discount, because you sell to open an Out of the Money (OTM) put option in this option strategy, which reduces investment on our In The Money (ITM) or At The Money (ATM) Put options. This option strategy would be an ideal strategy for the beginners who want to profit from a down market as it reduces upfront payment and therefore the risk of the position too. deducting the net premium paid from the Strike price of the purchased put. To understand the bear put spread let us take an example, suppose stock of a company is trading at Rs 38 in Oct. An options trader bearish on this stock decides to enter a bear put spread position by buying a Oct 40 put for Rs 300 and sell a Oct 35 put for Rs 100 at the same time, resulting in a net debit of Rs 200 for entering this position. The price of stock subsequently drops to Rs 34 at expiration. Both puts expire in-the-money with the Oct 40 put bought having Rs 600 in intrinsic value and the Oct 35 put sold having Rs 100 in intrinsic value. The spread would then have a net value of Rs 5 (the difference in strike price). Deducting the debit taken when he placed the trade, Advantages of Bear Put Spread Bear Put Spread can be considered a double hedging strategy as the price paid for the put with the higher strike price is partially compensate by the premium received from writing the put with a lower strike price. Thus, the investor's investment in the long put and the risk of losing the entire premium paid for it is reduced or hedged. The position is hedged as loss is limited if the underlying asset rises instead of fall while on the other hand if the underlying asset fails to fall beyond the strike price of the out of the money short call option, the profit yield will be greater than just buying put options. It is also a way of buying put options at a discount by selling the out of the money put option at a strike price beyond that which the underlying asset is expected to fall. Conclusion: The bear put spread is a debit spread as the difference between the sale and purchase of the two options results in a net debit. This spread is sometimes more broadly categorized as a "vertical spread": a family of spreads involving options of the same stock, same expiration month, but different strike prices. Either they can be created with all calls or all puts, and is bullish or bearish. The bear put spread, as any spread, can be executed as a "package" in one single transaction, not as separate buy and sell transactions. For this bearish vertical spread, a bid and offer for the whole package can be requested through your brokerage firm The Break Even Point with an exemplar The Break-even point for the Bear Put Spread can be achieved by from an exchange where the options are listed and traded. Hope this option strategy helps to make some reasonable profits in falling markets. his net profit is Rs 300. This is also his maximum possible profit. If the stock had rallied to Rs 420 instead, both options expire worthless, and the options trader loses the entire debit of Rs 200 taken to enter the trade. This is also the maximum possible loss.

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COMMODITY UPDATES: PROFIT BOOKING SCENARIO MORE ON THE CARDS


CRUDE OIL: Crude oil prices recoiled on last trading of the week as investors grew worried that the recent sharp upmove in prices will not be sustained amid uncertainties over the European accord. Fuel prices also weighed down by the marginal appreciation in American greenback which made the dollar denominated commodity costlier for holders' of other currencies. Meanwhile, the crude oil prices also got undermined by reports that Japanese manufacturing activity declined in September for the first time since the devastating March earthquake, indicating that the slowing global growth is hurting nation's economy. Benchmark crude for December delivery fell by $0.64, or 0.68% to settle at $93.32 a barrel on, after trading as high as $93.93 and as low as $92.01 on the New York Mercantile Exchange. In London, Brent crude for December delivery plummeted $2.17 or 1.94% to $109.91 a barrel, on the ICE Futures exchange. GOLD: Gold prices halted the five straight session northbound journey on Friday (28/10/2011) and settled marginally below the neutral line, concluding the week with 6.8% gains. Market participants took a breather on last trading day of the week after the recent non-stop rally, lacking any significant cues to take the bullion prices higher. The yellow metal prices see-sawed between gains and losses through the session as investors turned cautious after they shifted their attention on the challenges in implementing new measures to resolve the region's debt trouble. Gold futures for December delivery eased $0.50 or 0.03% to settle at $1,747.20 an ounce, after trading as high as $1,754 and as low as $1,733 on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices shed $2.3 to $1,743.40 an ounce. COPPER: Copper prices extended the gaining streak for yet another session on Friday (28/102011) and even climbed to the highest levels in around five weeks as marketmen continued to pile positions in the industrial metal amid expectations that the European deal would prevent the global economy from dipping into recession and improve the metal's demand prospects. However, the upside in the red metal prices was capped as reports that Japanese manufacturing activity declined in September for the first time since the devastating March earthquake, exerted some pressure. Copper futures for December delivery increased 1.40 cents or 0.4% to settle at $3.706 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange added $30 to end at $8,175 a tonne. However Copper prices got pummeled on the

first trading session of a new week as marketmen chose to take profits off the table after the spike up in American dollar and growing doubts over Europe's bailout plan undermined sentiments. However, the red metal prices also got weighed down after a data showed that the Chicago PMI fell more-than-expected to a seasonally adjusted 58.4 last month from 60.4 in the preceding month. Copper futures for December delivery slumped 7.40 cents or 2% to settle at $3.6320 per lb after trading as high as $3.7425 and as low as $3.4890 on the Comex metals division of the New York Mercantile Exchange. Copper for threemonth delivery on the London Metal Exchange plummeted $175 to end at $8,000 a tonne. Meanwhile investors relentlessly accumulated positions in the growth sensitive metal after Europe's hard-won debt deal to save the Eurozone and the global economy from recession. Investors' morale also got boosted because of an impressive US economic report which showed that the GDP gathered additional steam and expanded at a better than expected pace of 2.5% annual rate in the third quarter, easing concerns that the US was on the verge of a double-dip recession. The red metal prices also got underpinned by the depreciation in greenback which made the dollar priced metal look more attractive to global investors.

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AUXILIARY SECTION

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ALERT FOR CLIENTS SERVICE FOR MANSUKH SECURITIES

Introduction
Mansukh Securities has brought Alert for Clients Service for its customers to remain informed and connected with the stock market while on move.

Jaamoon Alc Features:


1. Conditional Alerts - This feature allows users to set alerts based on price trends. 2. Periodic Alerts - This feature allows users to set time-based alerts. 3. Market Open and Market Close Alerts - This feature allows users to set alerts based on Market Open and Market Close conditions.

Steps To Register And Use Alc Platform


a. b. c. d. e. f. g. h. Click http://www.moneysukh.com. Click Click on New user click here and register yourself by entering your mobile number, first name and last name. SMS having your username and system generated password will be sent to your registered mobile number. Using the login details you can now enter username and password and click Signin. Once you login into the application for the first time, you will be asked to change your password. It is recommended to change the password although you may ignore the warning by clicking Ignore. You can then click Create alert link to create your own alerts You can also view the alerts you have created using View alerts link

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