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 31-Jul-18 149.70 146.70 147.50 143.10 143.85 -3.91% -21.99% -31.77%

Copper 31-Aug-18 452.30 451.70 453.20 427.55 431.60 -4.58% 22.72% 9.84%

Crude Oil 19-Jul-18 5086 5036 5173 4971 5075 -0.22% 5.30% 22.54%

Gold 03-Aug-18 30432 30399 30737 30244 30560 0.42% -6.41% -37.89%

Lead 31-Jul-18 165.55 165.55 166.75 159.05 161.55 -2.42% -39.40% 12.22%

Natural Gas 26-Jul-18 200.80 200.00 200.80 194.70 196.70 -2.04% 12.87% -12.49%

Nickel 31-Jul-18 1023.40 1020.90 1020.90 954.10 958.90 -6.30% -10.84% 11.33%

Silver 05-Sep-18 39921 39800 40050 39269 39766 -0.39% 0.55% -68.90%

Zinc 31-Jul-18 198.00 198.30 199.85 185.35 190.60 -3.74% -4.23% 24.53%

NCDEX Market Wrap-Up

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

Castor Seed 20-Jul-18 4193 4187 4393 4162 4363 4.05% 17.47% -24.09%

Chana 20-Jul-18 3470 3470 3770 3462 3752 8.13% -2.71% 92.61%

Dhaniya 20-Jul-18 4681 4700 4827 4667 4752 1.52% 5.97% -31.36%

COCUDAKL 20-Jul-18 1538.50 1539.00 1612.00 1510.00 1589.00 3.28% -5.00% 17.56%

Guargum5 20-Jul-18 8171 8171 8654 8124 8459 3.52% 1.86% -36.80%

Guarseed10 20-Jul-18 3855.00 3865.00 4075.00 3827.00 4001.00 3.79% -38.24% -22.28%

Jeera 20-Jul-18 18500 18400 19070 18105 18560 0.32% -4.78% -22.64%

RMseed 20-Jul-18 3981 3993 4096 3991 4056 1.88% 0.85% 123.78%

Ref Soya Oil 20-Jul-18 751.00 750.30 757.65 749.00 755.05 0.54% -0.03% -13.08%

Soyabean 20-Jul-18 3566 3585 3650 3510 3527 -1.09% -10.75% -26.16%

Turmeric 20-Jul-18 7362 7360 7396 7078 7118 -3.31% 0.40% -53.89%

Mentha Oil 31-Jul-18 1376.50 1236.00 1389.30 1236.00 1382.70 0.45% -6.49% 78.68%
Currency Market Wrap-Up
Previous Change in
Currency Pair Contract Open High Low Close
Close Price (in%)
USDINR 27-Jul-18 68.7250 68.7975 69.1925 68.5625 69.0500 0.47%

GBPINR 27-Jul-18 90.4325 90.4100 91.7500 90.4100 91.4525 1.13%

JPYINR 27-Jul-18 62.2225 62.0900 62.6300 61.9175 62.4825 0.42%

EURINR 27-Jul-18 80.2175 80.2125 81.0575 80.0850 80.9900 0.96%

Continued…….
2 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018
Market Wrap-Up

International Market Wrap-up

Previous
Commodity Exchange Open High Low Close % Change in Price
Close
Aluminium LME 2131.75 2134.75 2136.50 2071.25 2087.50 -2.08%
Copper COMEX 2.951 2.954 2.956 2.785 2.819 -4.47%

Crude Oil NYMEX 74.15 73.62 75.27 72.14 73.91 -0.32%

Gold COMEX 1251.30 1249.90 1259.90 1237.00 1255.90 0.37%

Lead LME 2410.50 2411.50 2421.00 2307.75 2348.00 -2.59%

Natural Gas NYMEX 2.924 2.920 2.927 2.822 2.854 -2.39%

Nickel LME 14950.00 14907.50 14940.00 13862.50 13960.00 -6.62%

Silver COMEX 16.104 16.055 16.105 15.730 16.070 -0.21%

Zinc LME 2856.75 2866.00 2873.75 2667.50 2748.75 -3.78%

3 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018

Inventory Updates

LME Inventory
Closing AS (As on 6th Jul 18) Closing (As on 29th Jun 18)
Commodity % Change in Price
In tones in tones

Aluminium 1106600 1112025 -0.49%

Copper 279000 298250 -6.45%

Lead 131175 131700 -0.40%

Nickel 268392 272754 -1.60%

Zinc 249025 249325 -0.12%

Continued…….
4 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018
Inventory Updates

5 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018

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

Monday, July 9, 2018

18:40 USD FOMC Member Kashkari Speaks

Tuesday, July 10, 2018
7:00 CNY CPI (YoY) (Jun) 0:27 0:25
7:00 CNY PPI (YoY) (Jun) 0.045 0.041
14:00 GBP Industrial Production (MoM) (May) 0.005 -0.008
14:00 GBP Trade Balance (May) -11.95B -14.04B
14:00 GBP Trade Balance Non-EU (May) -3.60B -5.37B
Tentative GBP NIESR GDP Estimate 0.002
19:30 USD JOLTs Job Openings (May) 6.698M
Wednesday, July 11, 2018
16:50 USD OPEC Monthly Report
18:00 USD Core PPI (MoM) (Jun) 0.002 0.003
18:00 USD PPI (MoM) (Jun) 0.002 0.005
20:00 USD Crude Oil Inventories 1.245M
Thursday, July 12, 2018
13:30 USD IEA Monthly Report
18:00 USD Core CPI (MoM) (Jun) 0.20% 0.20%
18:00 USD Core CPI (YoY) (Jun) 2.30% 2.20%
18:00 USD CPI (MoM) (Jun) 0.20% 0.20%
18:00 USD Initial Jobless Claims 225K 231K
23:30 USD Federal Budget Balance (Jun) -144.0B -147.0B
Friday, July 13, 2018
8:30 CNY Exports (YoY) (Jun) 10.20% 12.60%
8:30 CNY Imports (YoY) (Jun) 22.00% 26.00%
8:30 CNY Trade Balance (USD) (Jun) 27.50B 24.92B
18:00 USD Export Price Index (MoM) (Jun) 0.30% 0.60%
18:00 USD Import Price Index (MoM) (Jun) 0.20% 0.60%
19:30 USD Michigan Consumer Expectations (Jul) 89.7 89.1
19:30 USD Michigan Consumer Sentiment (Jul) 98.3 98.2
Currency Weekly Pivots
Currency Pair Contract R3 R2 R1 PP S1 S2 S3

USDINR 27-Jul-18 70.2000 69.6000 69.3500 68.9350 68.6500 68.3000 67.6500

GBPINR 27-Jul-18 93.9000 92.5500 92.0000 91.2042 90.6500 89.8500 88.5000

JPYINR 27-Jul-18 63.8000 63.1000 62.8000 62.3433 62.0500 61.6000 60.9000

EURINR 27-Jul-18 82.7000 81.7000 81.3500 80.7108 80.3500 79.7000 78.7500
Continued…….
6 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018
Market Next Week

MCX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Aluminium 31-Jul-18 153.65 149.25 146.55 144.82 142.10 140.40 136.00

Copper 31-Aug-18 488.75 463.10 447.35 437.45 421.70 411.80 386.15

Crude Oil 19-Jul-18 5477 5275 5175 5073 4973 4871 4669

Gold 03-Aug-18 31500 31007 30783 30514 30290 30021 29528

Lead 31-Jul-18 177.85 170.15 165.85 162.45 158.15 154.75 147.05

Natural Gas 26-Jul-18 209.60 203.50 200.10 197.40 194.00 191.30 185.20

Nickel 31-Jul-18 1111.60 1044.80 1001.85 977.97 935.00 911.15 844.35

Silver 05-Sep-18 41257 40476 40121 39695 39340 38914 38133

Zinc 31-Jul-18 220.95 206.45 198.55 191.93 184.00 177.40 162.90

NCDEX Weekly Pivots

Commodity Contract R3 R2 R1 PP S1 S2 S3

Castor Seed 20-Jul-18 4768 4537 4450 4306 4219 4075 3844

Chana 20-Jul-18 4277 3969 3861 3661 3553 3353 3045

Dhaniya 20-Jul-18 5069 4909 4830 4749 4670 4589 4429

COCUDAKL 20-Jul-18 1774.35 1672.35 1630.70 1570.33 1528.65 1468.30 1366.30

Guargum5 20-Jul-18 9472 8942 8701 8412 8171 7882 7352

Guarseed10 20-Jul-18 4464 4216 4108 3968 3860 3720 3472

Jeera 20-Jul-18 20508 19543 19052 18578 18087 17613 16648

RMseed 20-Jul-18 4258 4153 4104 4048 3999 3943 3838

Ref Soya Oil 20-Jul-18 771.20 762.55 758.80 753.90 750.15 745.25 736.60

Soyabean 20-Jul-18 3842 3702 3615 3562 3475 3422 3282

Turmeric 20-Jul-18 7833 7515 7317 7197 6999 6879 6561

Mentha Oil 31-Jul-18 1642.60 1489.30 1436.00 1336.00 1282.70 1182.70 1029.40

7 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018

MCX Fundamentals

BULLION
Spot gold prices traded higher marginally to close at $ 1257.3 per ounce as weak-
ness in the DX coupled with ongoing trade tensions pushed the yellow metal to one
week high. Despite escalating trade tensions between US and China gold prices
have been falling as markets are pricing in two more rate hikes for the rest of the
year. Rising interest rate scenarios does not favour investments in the yellow metal
and hence the prices correction. The US economy growing at 4.5 annualised rate in
the second quarter and steady dollar are blend of options for gold prices to move
down in the coming weeks. MCX gold prices gained 0. 1 percent to trade at Rs.
30650 per 10 gms.

BASE METALS

Turkish steel producers have stayed away from the deep-sea scrap market with no
cargoes booked between Monday and Friday amid limited domestic and export
demand for finished steel products sources told Metal Bulletin this week. After
completing their bookings for July deliveries Turkish steel producers went quiet
with demand for finished steel in both the local and export markets failing to
bounce back after the country’s presidential and general elections in June.

ENERGY

Oil prices widened their losses in American trade on Friday for the second straight
session, hitting one-week lows after a surprise US inventory build up while US
output steadied at record highs, as prices were also hurt by mounting USChina
trade tensions. As of 13:03 GMT US crude fell to $72.40 a barrel from the opening
of $73.16 while Brent tumbled to $76.65 from the opening of $77.56, marking
June 26 lows at $76.35.

8 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018

NCDEX Fundamentals

SPICES
Rates shot up for Jeer on rising export and domestic demand amidst falling
stocks with rising Dollar vs Rupee providing further support to the market senti-
ments. Low stocks in International markets and shifting export demand towards
India aided by a firm Dollar vs Rupee are also acting as key bullish factors. Prices
firmed up moderately for Turmeric even as good monsoon rains in growing ar-
eas in AP kept uptrend limited. export and domestic demand could support
prices and prevent too much fall from these levels.

OILSEEDS
Rates shot up for Mentha as rains in growing areas adversely affected the
harvesting. However prices seem to face immediate resistance at these
higher levels and any clearing of skies could lead to improved harvesting
activities resulting in some fall in prices from these levels. Daily demand re-
mains strong enough to absorb supplies.

GUAR COMPLEX

Guar hit the upper circuit with sentiments gradually changing to a Bullish
note with low rains in Rajasthan providing support to the sentiments. Rising
crude oil prices and firmness in Dollar vs Rupee supported prices. The bearish
impact of favorable Monsoon reports however seem to be gradually getting
over. There are expectations that further too much fall from these levels may
be limited as they would not be sustainable .

OTHERS
Bullish tone in soybean and palm oil in addition to fresh purchase queries in
spot markets kept buyers active the in derivative market yesterday. In com-
ing days slowing arrival impact will be seen as a bullish driver. Reports on na-
ture of demand for DOC will be equally important .

Futures could sustain higher this time as markets had fallen significantly yes-
terday while there was no major bearish news. Tuesday’s hike in the MSP
was influential in keeping prices up this time.

9 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018

Calls of the Week (MCX)

SILVER

Last week, spot Silver prices traded marginally higher to close at $16.08 per ounce while MCX Silver prices declined
0.39 percent to trade at Rs.33766. Silver prices surged to one week high as weakness in the DX by 0.6 percent boosted
an upside in the bullion metal. Recently market has been broken its resistance trend line on upside and if market sus-
tain above the level of 40000 we can see positive movement in it for short term to mid term basis.

WEEKLY STRATEGY

PERTICULAR DETAILS

Action Buy

Entry Range Above 40050

Target 40500

SL 39800

LEAD

Last week Lead Jul Futures started the week on negative note and continued the same for the entire week. It made a
low of 159.05 during the week and closed at on 161.55 with the overall loss of 2.42% on weekly basis. Technically it
consolidating above the major support level of 160 with the positive RSI and volume and for this week, we can expect
upside movement in it.

WEEKLY STRATEGY

PERTICULAR DETAILS

Action Buy

Entry Range Above 162.50

Target 165.50

SL 161.40

10 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018

Calls of the Week (NCDEX)
COCUDAKL

Last week COCUDAKL Futures started the week on positive note and continued trade on range for the entire week. It
made a high of 1647.50 during the week and closed at on 1627.50 with the overall gain of 3.28 on weekly basis. Tech-
nically market is trading on higher level and trading in overbought zone we are expecting correction from higher side.
For this week, if it breaks the level of if it breaks the level of 1655 on the lower side then it can test the level of 1525
during the week. One can make sell position in it by maintaining a SL 1710

WEEKLY STRATEGY

PERTICULAR DETAILS

Action Sell

Entry Range Below 8710

Target 8500

SL 8820

GUARGUMS
Moderate firm trend was noted for Guar on rising crude oil prices and firmness in Dollar vs Rupee, that may aid the
export demand. The bearish impact of favorable Monsoon reports amidst lack of strong demand seem to be gradually
getting over. It made high of 8285 during the week and closed at 8171 with marginal gain of 9% on the weekly basis.
Technically it consolidating above the resistance level of 8000 with the positive RSI and for this week, we can expect
further upside movement in it.

WEEKLY STRATEGY

PERTICULAR DETAILS

Action Buy

Entry Range Above 8400

Target 8650

SL 8280

11 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018

Calls of the Week (FOREX)
GBPINR

Last week GBPINR Jul Futures started the week on positive note and continued the same for the entire week. It made a
high of 91.7500 during the week and closed at on 91.4525 with the overall gain of 1.13% on weekly basis. Technically it
consolidating above the major support level of 90 with the positive RSI and volume and for this week, we can expect
upside movement in it. For this week, if it breaks the level of if it breaks the level of 91.7500 on the upside then it can
test the level of 92.3475 during the week. One can make buy position in it by maintaining a SL 91.4475.

WEEKLY STRATEGY

PERTICULAR DETAILS

Action Buy

Entry Range Above 91.7500

Target 92.3475

SL 91.4475

USDINR

Last week JPYINR Jul Futures started the week on positive note and continued trade on range for the entire week. It
made a high of 62.6300 during the week and closed at on 62.4825 with the overall gain of 0.42% on weekly basis. Tech-
nically it is making higher highs and higher lows with the positive RSI and volume and for this week, we can expect up-
side movement in it.

WEEKLY STRATEGY

PERTICULAR DETAILS

Action Buy

Entry Range 62.4100

Target 62.9900

SL 62.0975

12 Copyright © 2018 Ways2Capital. All rights reserved 10/07/2018

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 10/07/2018