HIGH BROW MARKET RESEARCH INVESTMENT ADVISOR PVT. LTD.

Market Wrap-Up

MCX Market Wrap-Up

% Change in
Previous % Change in % Change
Commodity Contract Open High Low Close Open Inter-
Close Price in Volume
est
Aluminium 28-Sep-18 145.00 144.45 149.75 143.95 149.05 2.79% 39.40% -22.53%

Copper 30-Nov-18 423.95 424.30 461.50 424.15 458.15 8.07% 60.15% 30.43%

Crude Oil 19-Oct-18 4,957 5,000 5,195 4,970 5,146 3.81% 23.59% 18.24%

Gold 05-Oct-18 30436 30558 30928 30485 30582 0.48% 42.64% 7.17%

Lead 28-Sep-18 146.5 146.05 150.7 143.1 147.75 0.85% 17.34% 11.06%

Natural Gas 25-Sep-18 199.7 200.4 216.1 200.4 215.2 7.76% -5.38% 56.70%

Nickel 28-Sep-18 893.4 892.7 956.9 886.6 954.4 6.83% 48.41% -17.74%

Silver 05-Dec-18 36993 37200 37845 37136 37590 1.61% 81.24% -14.82%

Zinc 28-Sep-18 166.30 165.80 183.70 165.80 182.30 9.62% 36.13% -43.52%

NCDEX Market Wrap-Up

Previous % Change % Change in % Change
Commodity Contract Open High Low Close
Close in Price Open Interest in Volume

Castor Seed 16-Oct-18 4672.00 4666.00 4789.00 4630.00 4758.00 1.84% 64.02% 0.76%

Chana 16-Oct-18 4030.00 4020.00 4020.00 3900.00 3947.00 -2.06% -45.86% -6.53%

Dhaniya 16-Oct-18 5235.00 5230.00 5230.00 5080.00 5094.00 -2.69% -15.18% -2.89%

COCUDAKL 20-Dec-18 1700.50 1704.50 1713.50 1668.00 1693.50 -0.41% -44.25% 0.27%

Guargum5 16-Oct-18 9237.00 9180.00 9425.00 8990.00 9302.00 0.70% -22.30% 504.04%

Guarseed10 16-Oct-18 4269.50 4248.00 4359.00 4156.00 4306.00 0.85% -38.05% -1.71%

Jeera 16-Oct-18 20000.00 19940.00 20120.00 19350.00 19410.00 -2.95% -11.64% 1.39%

RMseed 16-Oct-18 4240.00 4222.00 4254.00 4173.00 4226.00 -0.33% 25.96% 0.10%

Ref Soya Oil 16-Oct-18 730.85 733.80 736.95 729.00 734.10 0.44% -30.00% -18.94%

Soyabean 16-Oct-18 3251.00 3242.00 3376.00 3212.00 3358.00 3.29% 111.03% 9.53%

Turmeric 16-Oct-18 6712.00 6710.00 6734.00 6440.00 6520.00 -2.86% 80.09% 3.70%

Mentha Oil 31-Oct-18 1737.10 1725.20 1754.80 1656.50 1723.50 -0.78% 26.79% -3.57%
Currency Market Wrap-Up
Previous Change in
Currency Pair Contract Open High Low Close
Close Price (in%)
USDINR 29-Oct-18 84.7875 84.7100 86.0000 84.7100 85.4825 0.82%

GBPINR 29-Oct-18 94.9525 95.2150 96.6600 95.2050 95.7600 0.85%

JPYINR 29-Oct-18 64.7500 65.2000 65.7900 64.0500 64.5025 -0.38%

EURINR 29-Oct-18 72.2550 72.8200 73.3425 72.0675 72.4975 0.34%

Continued…….
2 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018
Market Wrap-Up

International Market Wrap-up

Previous
Commodity Exchange Open High Low Close % Change in Price
Close
Aluminium LME 2036.75 2014.00 2097.75 2008.25 2088.25 2.53%
Copper COMEX 2.613 2.598 2.838 2.595 2.837 8.57%

Crude Oil NYMEX 69.00 68.93 71.81 68.53 70.78 2.58%

Gold COMEX 1198.30 1198.70 1198.70 1197.60 1196.20 -0.18%

Lead LME 2036.75 2026.00 2077.50 1994.75 2041.00 0.21%

Natural Gas NYMEX 2.766 2.774 2.991 2.772 2.977 7.63%

Nickel LME 12412.50 12442.50 13292.50 12130.00 13262.50 6.85%

Silver COMEX 14.085 13.980 14.265 13.980 14.269 1.31%

Zinc LME 2309.75 2294.25 2537.50 2292.50 2524.75 9.31%

3 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018

Inventory Updates

LME Inventory
Closing (As on 21st Sep 18) Closing (As on 14th Sep18)
Commodity % Change in Price
In tones in tones

Aluminium 1030200 1051200 -2.00%

Copper 215000 225125 -4.50%

Lead 117175 119425 -1.88%

Nickel 232098 233988 -0.81%

Zinc 211800 221325 -4.30%

Continued…….
4 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018
Inventory Updates

5 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018

Market Next Week
Upcoming Economic Events Calender
Time Currency Event Forecast Previous

Monday, September 24, 2018

All Day China - Mid-Autumn Festival
14:00 GBP BoE Financial Stability Report
15:30 GBP CBI Industrial Trends Orders (Sep) 5 7
Tuesday, September 25, 2018
19:30 USD CB Consumer Confidence (Sep) 132.2 133.4
Wednesday, September 26, 2018
14:00 GBP Gross Mortgage Approvals 39.7K 39.6K
19:30 USD New Home Sales (Aug) 630K 627K
19:30 USD New Home Sales (MoM) (Aug) 0.50% -1.70%
20:00 USD Crude Oil Inventories -3.677M -2.057M
23:30 USD FOMC Economic Projections
23:30 USD FOMC Statement
23:30 USD Fed Interest Rate Decision 2.25% 2.00%
Thursday, September 27, 2018
Tentative USD OPEC Meeting
18:00 USD Cap Goods Ship Non Defense Ex Air (MoM) 1.00%
18:00 USD Goods Trade Balance (Aug) -70.60B -72.05B
18:00 USD Initial Jobless Claims 208K 201K
19:30 USD Pending Home Sales (MoM) (Aug) -0.30% -0.70%
Friday, September 28, 2018
7:15 CNY Caixin Manufacturing PMI (Sep) 50.5 50.6
Tentative GBP Nationwide HPI (MoM) 0.20% -0.50%
14:00 GBP Current Account (Q2) -19.4B -17.7B
14:00 GBP GDP (QoQ) (Q2) 0.40% 0.40%
18:00 USD Core PCE Price Index (YoY) (Aug) 2.00% 2.00%
18:00 USD PCE Deflator (YoY) 2.30%
18:00 USD PCE Deflator (MoM) 0.20% 0.10%
18:00 USD Personal Spending (MoM) (Aug) 0.30% 0.40%
19:15 USD Chicago PMI (Sep) 62.3 63.6
19:30 USD Michigan Consumer Sentiment (Sep) 100.8 100.8
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3
USDINR 29-Oct-18 88.0000 86.7000 86.1000 85.4000 84.8000 84.1000 82.8000
GBPINR 29-Oct-18 98.8000 97.3500 96.6000 95.9000 95.1500 94.4500 93.0000
JPYINR 29-Oct-18 68.3000 66.5500 65.5500 64.8000 63.8000 63.0500 61.3000
EURINR 29-Oct-18 75.2000 73.9500 73.2500 72.6500 71.9500 71.4000 70.1000
Continued…….
6 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018
Market Next Week

MCX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Aluminium 28-Sep-18 159.20 153.40 151.25 147.60 145.45 141.80 136.00

Copper 30-Nov-18 522.65 485.30 471.75 447.95 434.40 410.60 373.25

Crude Oil 19-Oct-18 5554 5329 5237 5104 5012 4879 4654

Gold 05-Oct-18 31551 31108 30845 30665 30402 30222 29779

Lead 28-Sep-18 162.40 154.80 151.30 147.20 143.70 139.60 132.00

Natural Gas 25-Sep-18 241.95 226.25 220.70 210.55 205.00 194.85 179.15

Nickel 28-Sep-18 1073.25 1002.95 978.70 932.65 908.40 862.35 792.05

Silver 05-Dec-18 38942 38233 37911 37524 37202 36815 36106

Zinc 28-Sep-18 213.05 195.15 188.70 177.25 170.80 159.35 141.45

NCDEX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Castor Seed 16-Oct-18 5044 4885 4821 4726 4662 4567 4408

Chana 16-Oct-18 4196 4076 4011 3956 3891 3836 3716

Dhaniya 16-Oct-18 5435 5285 5189 5135 5039 4985 4835

COCUDAKL 20-Dec-18 1782.65 1737.15 1715.30 1691.65 1669.80 1646.15 1600.65

Guargum5 16-Oct-18 10109 9674 9488 9239 9053 8804 8369

Guarseed10 16-Oct-18 4679.65 4476.65 4391.30 4273.65 4188.30 4070.65 3867.65

Jeera 16-Oct-18 21167 20397 19903 19627 19133 18857 18087

RMseed 16-Oct-18 4380 4299 4262 4218 4181 4137 4056

Ref Soya Oil 16-Oct-18 749.25 741.30 737.70 733.35 729.75 725.40 717.45

Soyabean 16-Oct-18 3643 3479 3419 3315 3255 3151 2987

Turmeric 16-Oct-18 7153 6859 6689 6565 6395 6271 5977

Mentha Oil 31-Oct-18 1908.2 1809.9 1766.7 1711.6 1668.4 1613.3 1515.0

7 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018

MCX Fundamentals

BULLION

Gold edged lower on Monday as the dollar held firm on news that China has can-
celled trade talks with the United States with the market also eyeing this weeks
U.S. Federal Reserve meeting for guidance on future rate hikes. Investors were
squarely focused on Sino-U.S. trade tensions after China cancelled midlevel trade
talks with the United States as well as a proposed visit to Washington by vice pre-
mier He originally scheduled for this week.Spot gold inched down 0.2 percent to
$1,196.17 after falling as much as 1.3 percent on Friday. U.S. gold futures were vir-
tually unchanged at $1,200.60 an ounce.

BASE METALS

London copper eased on Monday as buying was thinned by holidays in China and
Japan a session after it notched up its biggest one-day advance in more than five
years on receding trade war concerns. London Metal Exchange slipped by 1 percent
to $6,303 a tonne after prices surged by 4.6 percent in the previous session to
$6,382.50 a tonne the highest since July 10. The Shanghai Futures Exchange was
closed for its mid autumn holiday.

ENERGY

Oil prices rose more than 1% on Monday and climbed near twomonths high as
the Organization of Petroleum Exporting Countries (OPEC) issued a tepid re-
sponse to U.S. President Donald Trump demand to lower oil prices. The Energy
Information Administration released its report on US natural gas stocks showing a
buildup of 86 billion cubic feet in the week ending September 14 up from 69 bil-
lion in the previous reading, while analysts expected an 81 billion increase.

8 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018

NCDEX Fundamentals

SPICES
Jeer failed to show 1-sided strong movement as lower trading activities in
mandis kept prices very volatile. However rising demand on the export and Fes-
tive season domestic front supported prices. Falling stocks too is a supporting
factor. Prices are quite low therefore some gains can be expected this week.
Sentiments remained weak for Turmeric even as market sources expect prices
to bounce back soon from these lower levels. Good sowing reports kept senti-
ments negative.

OILSEEDS
Mentha traded with high volatility as profit booking was noted after the re-
cent highs. Fresh buying interest in spot markets (at lower rates) could sup-
port prices and in coming sessionsmarkets may look to recover. Traders are
reportedly waiting for some more dips in prices for fresh demand.Bearish
report from USDA and sharp fall in Malaysian palm oil kept pressure on Soya
oil. Soya oil had faced resistance in moving above 750 level during last few
weeks although the downside has been limited up to 722- 723.

GUAR COMPLEX
Trend remained firm for Guar as reports of a fall in sowing area in the main
growing state of Rajasthan supported prices. Lower rains earlier this year dur-
ing Monsoon had adversely affected the sowing. With stocks reportedly on the
lower side and falling amidst no new arrivals for now sentiments are looking
positive for the counter. As the bearish impact of rains gradually get over fall in
prices may be limited from the monsoon factor.

OTHERS
Bearish trend was noted for Cotton / Kapas. Bearish reports from USDA may
limit upside moves as of now. Govt doubled import duty on 328 textile items
to 20%. Rise in duties would give edge to domestic manufacturers as im-
ported products are currently cheaper. RM seed futures will stabilize once
the probable impact of NAFED selling is discounted fully. Considering the
broader fundamentals buying interest may remain impressive in coming
weeks.

9 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018

Calls of the Week (MCX)
SILVER
From last couple of trading weeks Silver is trading with positive sentiment with positive RSI and we are expecting that
Silver can continue its positive trend from this week also. Last week Silver made a high of 37845 and closed at 37590
with overall marginal gain of 1.61% on weekly basis. Silver recently broken its downtrend channel on upper side and
sustaining above it indicating positive movement in it. For this week, if it breaks the level of 37600 on the upper side
then it can test the level of 38500 during the week. One can make buy position in it by maintaining a SL at 37340.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 37600

Target 38500

SL 37340

GOLD
From last couple of trading weeks Gold is trading with positive sentiment with positive RSI and sustaining above the
level of 30,000. Last week Gold made a high of 30928 and closed at 37582 with overall marginal gain of 0.48% on
weekly basis. On its daily chart Gold is forming bullish flag formation indicating positive movement in it. For this week,
if it breaks the level of 37700 on the upper side then it can test the level of 31200 during the week. One can make buy
position in it by maintaining a SL at 30622.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 30700

Target 31200

SL 30622

10 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018

Calls of the Week (NCDEX)
DHANIYA
Last week Dhaniya made a low of 5080 and closed at 5094 with overall marginal loss of 2.69% on weekly basis. On its
daily chart Dhaniya is forming lower highs and lower lows formation indicating negative movement in it for short term
to mid term basis. For this week, if it breaks the level of 5020 on the lower side then it can test the level of 4870 during
the week. One can make sell position in it by maintaining a SL at 5075.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Sell

Entry Range Below 5020

Target 4870

SL 5075

COKUDAKL
From last couple of trading weeks COCUDAKL is trading in range and forming symmetric triangle formation on its four
hourly chart. Last week COCUDAKL made a low of 1668 and closed at 1693.50 with overall marginal loss of 0.41% on
weekly basis. On its daily chart COCUDAKL is trading near the support level of 1700 with positive RSI and we are ex-
pecting positive movement in it. For this week, if it breaks the level of 1730 on the upper side then it can test the level
of 1850 during the week. One can make buy position in it by maintaining a SL at 1679.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 1730

Target 1850

SL 1679

11 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018

Calls of the Week (FOREX)
EURINR
EURINR continuously trading with positive sentiment and recently broken its bullish flag pattern and sustaining above
it indicating short term positive movement in it. Last week EURINR made a high of 73.3425 and closed at 72.4975 with
overall marginal gain of 0.34% on weekly basis. For this week, if it breaks the level of 85.9100 on the upper side then it
can test the level of 86.4900 during the week. One can make buy position in it by maintaining a SL at 85.5975.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Below 85.9200

Target 86.4900

SL 85.5975

GBPINR
The primary trend of GBPINR is bullish on chart and from last couple of trading weeks GBPINR is trading with positive
sentiment with positive RSI. Last week GBPINR made a high of 96.6600 and closed at 95.7600 with overall marginal
gain of 0.85% on weekly basis. For this week, if it breaks the level of 95.8100 on the upper side then it can test the
level of 96.3900 during the week. One can make buy position in it by maintaining a SL at 95.4975.

WEEKLY STRATEGY

PARTICULAR DETAILS

Action Buy

Entry Range Above 95.8100

Target 96.3900

SL 95.4975

12 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018

Disclaimer
LEGAL DISCLAIMER (कानन
ू ी 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 assessment 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 अनुसध
ं ान ननवेश सराहकाय प्राइवेट लरलभटे ड का एक बाग) द्वाया तैमाय ककमा गमा है | महां ऩय दी गई जानकायी, ववश्रेषण औय अनुभान Ways2Capital इक्ववटी / कभोडडटी अनुसध
ं ान
के भूलमांकन 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 informa-
tion, 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 संफधं धत 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 ac-
cept 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 अनुसध
ं ान 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 सकपिंग 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, 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.
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 अनुसंधान 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|
(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,
(ब) 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 |
(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 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, ऩेशेवयों 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

13 Copyright © 2018 Ways2Capital. All rights reserved 25/09/2018