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 Market Wrap–Up

MAJOR INDICES CURRENCY MARKET UPDATE

CLOSING WEEKLY CURRENT PREVIOUS WEEKLY
INDEX WEEKLY CHANGES CURRENCY PAIR
AS ON 21st DEC 18 % CHANGE CLOSING CLOSING % CHANGE
Nifty 10754.00 -51.45 -0.48% USDINR 70.1550 72.0600 -2.64%
Nifty Bank 26869.65 43.65 0.16% GBPINR 88.9350 90.7400 -1.99%
Nifty IT 14207.85 -643.55 -4.33% EURINR 80.1925 81.5475 -1.66%
Nifty Pharma 8774.05 47.65 0.55% JPYINR 63.1725 63.5750 -0.63%
Nifty Finance 11439.05 111.45 0.98% EURUSD 1.1422 1.1290 1.17%
Nifty VIX 15.99 0.83 5.51% GBPUSD 1.2667 1.2556 0.88%
Nifty 500 9082.55 -8.75 -0.10% Dollar Index 96.48 97.45 -1.00%
Nifty 100 11005.85 -34.45 -0.31% COMMODITY MARKET UPDATE
Nifty FMCG 30199.80 -171.70 -0.57% CURRENT PREVIOUS WEEKLY
COMMODITY
CLOSING CLOSING % CHANGE
Nifty Energy 14159.75 87.70 0.62%
Gold COMEX 1258.95 1242.30 1.34%
Nifty Realty 238.50 1.30 0.55%
Gold MCX 31815 31437 1.20%
Nifty PSU Banks 3034.45 54.80 1.84% Crude Oil NYMEX 45.41 51.23 -11.36%
Nifty Auto 9337.25 65.75 0.71% Crude Oil MCX 3236 3690 -12.30%
Nifty Metal 3162.30 49.95 1.60% Brent Oil NYMEX 53.50 60.30 -11.28%
Nifty 200 5701.25 -11.35 -0.20% Copper MCX 417.35 441.70 -5.51%
Nifty Media 2466.10 -96.45 -3.76% Natural Gas NYMEX 3.692 3.788 -2.53%

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 Market at a Glance

WEEKLY GAINERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE HIGH

HINDPETRO 250.00 9.94% 434.90

BPCL 372.00 8.19% 540.70

POWER
196.90 6.15% 217.00
GRID
TATA MO-
175.90 5.39% 443.55
TORES
NTPC LTD 150.70 4.91% 180.55

WEEKLY LOSERS
CLOSING WEEKLY 52 WEEK
SCRIP
PRICE % CHANGE LOW

ZEEL 447.30 8.55% 410.30

INFOSYS 645.75 -8.48% 499.03

TCS 1897.25 -4.62% 1278.35

WIPRO 319.45 -4.10% 253.50

UPL LTD 736.70 -3.67% 537.90

3 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 Economic Calendar
ECONOMIC EVENTS CALENDER
TIME CURRENY EVENT FORECAST PREVIOUS

Monday, December 24, 2018

12:30 Holiday United Kingdom - Christmas Eve - Early close at 12:30 Holiday

13:00 Holiday United States - Christmas Eve - Early close at 13:00 Holiday

Tuesday, December 25, 2018

All Day GBP United Kingdom - Christmas Day Holiday

All Day USD United States - Christmas Holiday

All Day INR India - Christmas Holiday

Wednesday, December 26, 2018

All Day GBP United Kingdom - Boxing Day Holiday

Thursday, December 27, 2018

20:30 USD CB Consumer Confidence (Dec) 134.3 135.7

20:30 USD New Home Sales (Nov) 555K 544K

Friday, December 28, 2018

Tentative USD Fed Chair Powell Testifies - -

20:30 USD Pending Home Sales (MoM) (Nov) -0.50% -2.60%

21:30 USD Crude Oil Inventories - -0.497M

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 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

ADANIPORTS 427.70 407.35 387.00 374.15 366.63 353.75 346.25 325.90 305.55
ASIANPAINT 1702.80 1596.45 1490.10 1439.90 1383.72 1333.50 1277.35 1171.00 1064.65
AXISBANK 726.65 693.60 660.55 641.10 627.47 608.00 594.40 561.35 528.30
BAJAJ-AUTO 3149.70 3045.70 2941.70 2874.35 2837.67 2770.30 2733.65 2629.65 2525.65
BAJAJFINSV 7652.00 7202.00 6752.00 6553.95 6301.97 6103.90 5851.95 5401.95 4951.95
BAJFINANCE 3084.40 2907.10 2729.80 2658.40 2552.50 2481.10 2375.20 2197.90 2020.60
BHARTIARTL 370.10 350.95 331.80 319.65 312.62 300.45 293.45 274.30 255.15
BPCL 467.95 433.30 398.65 386.50 363.97 351.80 329.30 294.65 260.00
CIPLA 565.40 550.35 535.30 526.15 520.22 511.05 505.15 490.10 475.05
COALINDIA 275.90 267.60 259.30 255.75 250.97 247.40 242.65 234.35 226.05
DRREDDY 2809.40 2742.50 2675.60 2639.30 2608.68 2572.35 2541.75 2474.85 2407.95
EICHERMOT 26209.45 25363.40 24517.35 23998.65 23671.30 23152.60 22825.25 21979.20 21133.15
GAIL 390.90 377.00 363.10 354.30 349.20 340.40 335.30 321.40 307.50
GRASIM 962.90 918.25 873.60 844.80 828.95 800.15 784.30 739.65 695.00
HCLTECH 1092.00 1048.20 1004.40 976.20 960.60 932.40 916.80 873.00 829.20
HDFC 2151.30 2083.00 2014.70 1979.10 1946.38 1910.75 1878.05 1809.75 1741.45
Continued .......

5 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

HDFCBANK 2270.05 2219.95 2169.85 2140.50 2119.75 2090.40 2069.65 2019.55 1969.45
HEROMOTOCO 3738.45 3598.45 3458.45 3396.85 3318.42 3256.80 3178.40 3038.40 2898.40
HINDALCO 246.75 239.05 231.35 227.55 223.65 219.85 215.95 208.25 200.55
HINDPETRO 323.00 296.15 269.30 259.70 242.45 232.85 215.60 188.75 161.90
HINDUNILVR 2035.00 1965.50 1896.00 1853.00 1826.50 1783.50 1757.00 1687.50 1618.00
IBULHSGFIN 1139.55 1033.25 926.95 872.55 820.62 766.20 714.30 608.00 501.70
ICICIBANK 398.05 384.55 371.05 363.05 357.52 349.50 344.00 330.50 317.00
INDUSINDBK 1814.65 1742.50 1670.35 1624.15 1598.17 1551.95 1526.00 1453.85 1381.70
INFRATEL 310.60 293.05 275.50 268.40 257.92 250.80 240.35 222.80 205.25
INFY 872.50 804.10 735.70 691.15 667.28 622.70 598.85 530.45 462.05
IOC 169.85 160.70 151.55 145.70 142.38 136.50 133.20 124.05 114.90
ITC 304.50 296.00 287.50 282.05 278.97 273.50 270.45 261.95 253.45
KOTAKBANK 360.65 342.00 323.35 315.35 304.68 296.65 286.00 267.35 248.70
LT 1410.55 1351.60 1292.65 1260.35 1233.68 1201.35 1174.70 1115.75 1056.80
LUPIN 1619.55 1554.90 1490.25 1456.15 1425.58 1391.45 1360.90 1296.25 1231.60
M&M 971.40 907.90 844.40 811.30 780.90 747.80 717.40 653.90 590.40
Continued .......
6 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018
 Weekly Pivots
NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)
SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4
HDFCBANK 2270.05 2219.95 2169.85 2140.50 2119.75 2090.40 2069.65 2019.55 1969.45

HEROMOTOCO 3738.45 3598.45 3458.45 3396.85 3318.42 3256.80 3178.40 3038.40 2898.40

HINDALCO 246.75 239.05 231.35 227.55 223.65 219.85 215.95 208.25 200.55

HINDPETRO 323.00 296.15 269.30 259.70 242.45 232.85 215.60 188.75 161.90

HINDUNILVR 2035.00 1965.50 1896.00 1853.00 1826.50 1783.50 1757.00 1687.50 1618.00

IBULHSGFIN 1139.55 1033.25 926.95 872.55 820.62 766.20 714.30 608.00 501.70

ICICIBANK 398.05 384.55 371.05 363.05 357.52 349.50 344.00 330.50 317.00

INDUSINDBK 1814.65 1742.50 1670.35 1624.15 1598.17 1551.95 1526.00 1453.85 1381.70

INFRATEL 310.60 293.05 275.50 268.40 257.92 250.80 240.35 222.80 205.25

INFY 872.50 804.10 735.70 691.15 667.28 622.70 598.85 530.45 462.05

IOC 169.85 160.70 151.55 145.70 142.38 136.50 133.20 124.05 114.90

ITC 304.50 296.00 287.50 282.05 278.97 273.50 270.45 261.95 253.45

KOTAKBANK 360.65 342.00 323.35 315.35 304.68 296.65 286.00 267.35 248.70

LT 1410.55 1351.60 1292.65 1260.35 1233.68 1201.35 1174.70 1115.75 1056.80

LUPIN 1619.55 1554.90 1490.25 1456.15 1425.58 1391.45 1360.90 1296.25 1231.60

M&M 971.40 907.90 844.40 811.30 780.90 747.80 717.40 653.90 590.40

7 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 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 %)

UJJIVAN 54.55% 13.55% NTPC -28.82% 4.52%

SREINFRA 30.94% 6.43% COALINDIA -21.27% 2.06%

KAJARIACER 30.29% 9.31% IOC -19.72% 3.89%

BPCL 28.84% 9.60% CAPF -15.44% 10.30%

BEML 28.28% 13.06% RELINFRA -12.79% 4.95%

SHORT BUILD-UP LONG UNWINDING

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

CESC 56.53% -1.67% JETAIRWAYS -13.03% -9.11%

ADANIPORTS 29.93% -2.09% - - -

NATIONALUM 28.44% -3.11% - - -

GODFRYPHLP 25.12% -8.42% - - - Analysis : As per the analysis of above chart.

Major Resistance Level: 11000
ZEEL 20.94% -8.24% - - - Major Support Levels: 10500 followed 10000

8 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 Nifty Analysis

Fundamental Outlook
NIFTY WEEKLY PIVOTS
Last week our Indian Equity market opened on a gap up not on Monday and continuing its previous week's momentum. It PARTICULAR LEVEL
remained bullish till Thursdays session but Indian indices witnessed bloodbath in Friday trading session as Nifty closed 197
points lower at 10,754. Fears of a global slowdown spooked investors across the globe, including India on Friday. Global mar- R4 11598.15

kets took a beating amid fears of a slowdown in developed economies such as US and China. Weak handover from Wall Street
R3 11346.60
spilled over to Asian and Indian markets as well. Wall Street stocks fell sharply in volatile trading on December 21, with the
Nasdaq confirming it is in a bear market, as concerns of slowing economic growth led investors to flee stocks in high-valuation
R2 11095.05
sectors such as technology and communication services. Apart from global cues, index heavyweights were under pressure,
which dragged the indices lower too but the consistent fall in oil prices continued to support the market. Rupee gained sharply R1 10932.00
against the US dollar following broader weakness in the dollar and plunge in global crude oil prices. Gains in the rupee were
triggered after the Federal Reserve in its policy statement mentioned that rate hike in the coming year could be restricted to PP 10843.50

two compared to earlier estimates of three rate hikes next year.

S1 10680.45
Technical Outlook

S2 10591.95
Last week nifty index started on a gap up note on Monday and continued its bullish run for next three trading sessions of the
week and index hits weekly high of 11,006.25 in Wednesday's trading session. It was first time since 3rd Oct 2018 index tested S3 10340.40

11,000 mark. But it lost the movement in Friday's session as Index fell sharply and wiped out gain of last six trading sessions to
S4 10088.85
slip towards 10,755 levels.
Continued …....

9 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 Nifty Analysis
he index plunged nearly 200 points for the first time in last nine consecutive sessions, forming big bearish candle on the
daily charts and Inverted hammer on weekly scale which suggest that bulls are loosening their grip in the market. Now if it WEEKLY STRATEGY
sustains below 10,835 levels then short term trend could turn negative for a decline towards 10,581 levels while on the PARTICULAR DETAILS
upside resistance is seen at 10,883 then 11,007 . On the options front, maximum Put open interest (OI) was seen at 10,000
ACTION SELL
followed by 10,700 strikes while maximum Call OI was at 11,000 followed by 10,900 strikes
ENTRY PRICE BELOW 10750

TARGET 10640

STOP LOSS 10851

TECHNICAL INDICATOR
ANALYSIS
CURRENT
INDICATOR
TREND
20 Days EMA POSITIVE

50 Days EMA POSITIVE

200 Days EMA POSITIVE

RSI POSITIVE

MACD POSITIVE
For this week, traders can adopt sell on higher level strategy in it and below the level of 10,750. It can test the level of Rs.
STOCHASTIC POSITIVE
10,640 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 10,851.
…....

10 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 Bank Nifty Analysis
Technical Outlook WEEKLY STRATEGY
The Nifty Bank index started the last week on a gap up note on Monday and continued its bullish run for next three trading PARTICULAR DETAILS
sessions of the week and index hits weekly high of 27,425 in Wednesday's trading session. In Friday's trading session Bank
ACTION SELL
Nifty failed to hold above 27,350 and slipped towards 26,900 levels. It corrected by more than 400 points and formed a
ENTRY PRICE BELOW 26900
bearish candle on daily scale and a Shooting Star on weekly scale. The index closed 369 points lower at 26,971.80. Now it
has to cross and hold above 27,000 levels to get a short term stability and a move towards 27,300-27,400 levels but if it TARGET 26500

sustains below 26,900 levels then it can test down side levels of 26,600 - 26,400. STOP LOSS 27200

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 28704.35

R3 28167.95

R2 27631.55

R1 27301.70

PP 27095.15

S1 26765.30
For this week, traders can adopt sell on higher level strategy in it and below the level of 26,900. It can test the level of Rs.
S2 26558.75
26,500 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 27,200.
S3 26022.35

S4 25485.95

11 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 BHEL Cash ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Overall trend of the Stock is bearish for long term . For short term stock is in recovery phase. Last week, it started on posi-
PARTICULAR DETAILS
tive note and showed a good buying from lower levels throughout the week. On daily chart stock has gave breakout of its
major trend line and resistance levels of 71.50. If it manages to sustain above the levels of 73 than further upside move ACTION BUY

can be seen in it. ENTRY PRICE ABOVE 73

TARGET 77.00

STOP LOSS 71.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 85.60
R3 80.20

R2 74.80

R1 72.30

PP 69.40

S1 66.90

S2 64.00
For this week, traders can adopt buy on lower level strategy in it and above the level of 73 it can test the level of Rs. 77
S3 58.60
during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 71.
S4 53.20

12 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 OREINTELBANK ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Overall trend of the Stock is bearish for long term . For short term stock is in recovery phase. Last week stock started on PARTICULAR DETAILS
positive note and consolidated near its major resistance levels throughout the week. On daily chart stock has gave break-
ACTION BUY
out of its major trend line. If it manages to trade above 96 levels than further upside move can be seen in it. In intraday
ENTRY PRICE ABOVE 96
it showed a good positive move.
TARGET 99.00

STOP LOSS 94.00

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 114.75
R3 107.35

R2 99.95

R1 96.60

PP 92.55

S1 89.20

S2 85.15
For this week, traders can adopt buy on lower level strategy in it and above the level of 96 it can test the level of Rs. 99 S3 77.75
during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 94.
S4 70.35

13 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 MCDOWELL FUTURES( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Last week, MCDOWELL-N Dec Futures started the week on positive note but till the end of the week, all of its earlier gains
PARTICULAR DETAILS
were erased and it closed at 623.45 with the marginal loss of 0.85 per cent on weekly basis. Technically it’s sustaining be-
ACTION SELL
low the downward trend line breakout with the negative RSI and for this week, we can expect downside movement in it.
ENTRY PRICE BELOW 611

TARGET 601.00

STOP LOSS 616.90

WEEKLY PIVOTS
PARTICULAR LEVEL

R4 745.95

R3 708.40

R2 670.85

R1 647.15

PP 633.30

S1 609.60

S2 595.75

For this week, traders can adopt selling from trend line breakout strategy in it and above the level of 611 it can test the S3 558.20
level of 601 during the week. Trades can make sell position in it by maintaining a Stop Loss of 619.90 S4 520.65

14 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 BHARATFORGE FUTURES ( Call of the Week )
Technical Outlook
WEEKLY STRATEGY
Last week, BHARATFORG Dec Futures started the week on positive note but in last day of the week, all the gain were
PARTICULAR DETAILS
erased and it closed at 502.20 with the overall loss of 2.65% on weekly basis. Technically it’s near the 52 week low and con-
ACTION SELL
solidating below the 61.8% Fibonacci Retracement levels which is indicating bearish movement in it.For this week, we can
expect downside movement in it. ENTRY PRICE BELOW 498.00

TARGET 485.00

STOP LOSS 505.00

WEEKLY PIVOTS
PARTICULAR LEVEL
R4 605.60

R3 574.25

R2 542.90

R1 522.55

PP 511.55

S1 491.20

S2 480.20
For this week, traders can adopt selling on the basis of Retracement breakout strategy in it and below the level of 498 it
S3 448.85
can test the level of 485 during the week. Trades can make sell position in it by maintaining a Stop Loss of 505.
S4 417.50

15 Copyright © 2018 Ways2Capital. All rights reserved 24/12/2018

 Disclaimer

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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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगी कं पननयां अनुसंधान ररपोटा में शानमल कं पननयों के साथ कारोबार नहीं करती हैं और न ही ककसी भी तरह के उत्पादों / प्रनतभूनतयों के जारीकताा के साथ जुडी हैं, जो यह सुनननित करता है कक नहतों के नलए कोई वास्तनवक या

संभानवत संघषा नहीं है | ननयामक ननकाय के अनुपालन को सुनननित करने के नलए हमने यह तय ककया है कक कं पनी और उसके कोई भी प्रनतनननध बाज़ार में ट्रेड नहीं करेंगे।

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.

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ग्राहकों को यह सलाह दी जाती है कक वे ररपोटा में दी गई जानकारी को के वल राय के रूप में देखें और ननवेश के नलए स्वयं िंै सला करें | ग्राहकों को वेबसाइट पर प्रकानशत सेवाओं के ननयमों और शतों को पढ़ने और समझने की भी सलाह दी जाती है | कं पनी के ननगमन के बाद ननयामक ननकाय द्वाराकं पनी के

नखलािं कोई मुकदमा (यानचका) दायर नहीं ककया गया है।

DISCLOSURE APPENDIX ( प्रकटीकरण पररनशष्ट ) :

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.
ररपोटा नवश्लेषकों द्वारा तैयार की गयी है जो द्वारा हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड द्वारा ननयुक्त हैं | इस ररपोटा में व्यक्त सभी नवचार कं पनी के बारे में व्यनक्तगत नवचारों को दशााता है और कं पननयों और उनकी प्रनतभूनतयां और क्षनतपू र्तत (मुआवजे) का कोई नहस्सा, या इस

शोध ररपोटा में नननहत नवशेष सुझावों या नवचारों से प्रत्यक्ष या अप्रत्यक्ष रूप से संबंनधत नहीं होगा।

DISCLOSURE IN TERMS OF CONFLICT OF INTEREST (नहतों के संघषा के मामले में प्रकटीकरण ):

(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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगी या उनके ककसी भी तत्काल ररश्तेदार की नवषय कं पनी में कोई नवत्तीय रुनच नहीं है और न ही इस तरह की नवत्तीय नहत की प्रकृ नत 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,
( ब) हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगी या उनके ककसी भी तत्काल ररश्तेदार की नवषय कं पनी की प्रनतभूनतयों में एक प्रनतशत या उससे अनधक के वास्तनवक / िंायदेमदं स्वानमत्व 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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोनगयों को अनुसंधान ररपोटा के प्रकाशन के समय या सावाजननक रूप से उपनस्थत होने के समय कोई अन्य भौनतक संघषा नहीं है|

DISCLOSURE IN TERMS OF COMPENSATION ( क्षनतपूर्तत के संदभा में प्रकटीकरण):

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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड की पॉनलसी अपने नवश्लेषकों, पेशेवरों को नवश्लेषक के क्षेत्र में ककसी भी कं पनी की प्रनतभूनतयों के स्वामी से नवश्लेषकों को ररपोटा करने से रोकती है।

नवश्लेषक क्षनतपूर्तत : नवश्लेषक हाई ब्रो माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड के वेतन आधाररत स्थायी कमाचारी है |

DISCLOSURE IN TERMS OF PUBLIC APPEARANCE (सावाजननक प्रकटन के मामले में प्रकटीकरण ) :

(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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटेड या उसके सहयोगीयों ने नपिले 12 महीनों में नवषय कं पनी से कोई मुआवजा प्राप्त नहीं ककया 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 ररपोटा के नवतरण की नतनथ से पूवा बारह महीनों के दौरान नवषय कं पनी अब या कभी भी ग्राहक नहीं रही 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 माके ट अनुसंधान ननवेश सलाहकार प्राइवेट नलनमटे ड या उसके सहयोगीयों ने नवषय कं पनी के अनधकारी, ननदेशक या कमाचारी के रूप में कभी भी काम

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