MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA

Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA

EQUITY INDICES

Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 49,180.3 (871.1) -1.8% -3.6% 3.0% CNX Nifty 14,549.4 (265.4) -1.8% -3.6% 4.1% S&P CNX 500 12,197.2 (220.1) -1.8% -2.9% 5.9% SENSEX 50 15,226.2 (273.8) -1.8% -3.5% 4.0%

International Last Trade Change 1-D 1-Mth YTD DJIA 32,420.1 (3.1) 0.0% 3.2% 5.9% NASDAQ 12,961.9 (265.8) -2.1% -1.2% 0.6% NIKKEI 28,524.2 118.7 0.4% -5.4% 3.9% HANGSENG 27,862.6 (55.5) -0.2% -7.4% 2.3% MSCI Emerging Mkts 1,298.4 (25.3) -2.0% -6.2% 0.6%

ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy’s Lab (ADR) 59.6 (0.2) -0.3% -1.6% -16.4% STOCK IN FOCUS Tata Motors (ADR) 19.9 (0.8) -3.6% -9.9% 58.1% f Bharat Forge (BHFC) closed 2% higher as against Nifty rising by 1% Infosys (ADR) 18.7 (0.1) -0.3% 7.3% 10.1% yesterday. ICICI Bank (ADR) 15.6 (0.3) -1.9% -8.9% 5.2% HDFC Bank (ADR) 78.1 (1.1) -1.4% -4.6% 8.0% f BHFC is the market leader with 90% share in CV space (especially Axis Bank (GDR) 48.9 (0.8) -1.5% -6.5% 15.6% in Crankshaft & Camshaft). We expect BHFC to witness superior Reliance Ind (GDR) 56.8 (0.4) -0.7% -4.7% 3.8% performance led by expected rebound in domestic CV space on the back of stimulus-led bounce back in the US and Europe HCV COMMODITY MARKET Key Commodities Last Trade Change 1-D 1-Mth YTD sales in FY22E.Turnaround of overseas operations will benefit BFHC’s Brent Crude ($/bl) 63.6 (0.8) -1.3% -4.9% 22.8% operating margin. Silver ($/Oz) 25.1 (0.0) -0.2% -8.7% -5.1% f Focus on PV segment, light weighting and e-mobility would aid Gold ($/Oz) 1,734.5 (0.2) 0.0% -2.0% -8.6% BHFC’s incremental revenue, reduce dependency on cyclicality and Copper LME ($/MT) 8,973.3 (5.8) -0.1% -3.9% 15.8% protect its business in the upcoming EV era. Aluminium LME ($/MT) 2,231.5 41.8 1.9% 2.7% 13.1% f Diversification into domestic and global non-auto space is expected Baltic Dry 2,194.0 (77.0) -3.4% 29.1% 60.6% to pay off during economic recovery, while other specialized projects CURRENCY RATES in non-auto space would aid its margin. Last Trade Change 1-D 1-Mth YTD f Considering better business visibility, improving economic situation USD/INR 72.6 72.4 0.2% 0.3% -0.7% and healthy demand outlook for CV segment we recommend BUY EUR/INR 85.9 86.2 -0.3% -2.4% -4.3% on Bharat Forge with 2-Year TP of Rs690, valuing the stock at RATES 25x FY23E. Last Trade Change 1-D 1-Mth YTD T-Bill - 91 D 3.3 3.3 0.00 0.05 0.10 Intraday Picks 10 Year G-sec Yield 6.2 6.1 0.00 0.00 0.05

BAJAJ-AUTO (PREVIOUS CLOSE: 3603) SELL INVESTMENT ACTIVITY (RS. CR) For today’s trade, long position can be initiated in the range of Rs 3640- Category BUY SELL NET Prev 3670 for the target of Rs.3500 with a strict stop loss of Rs.3710. FII 5,577.5 7,529.4 (1,951.9) (108.2) DII 5,581.3 4,968.5 612.8 (529.7) MINDTREE (PREVIOUS CLOSE: 1975) SELL For today’s trade, long position can be initiated in the range of Rs 1990- EXCHANGE TURNOVER 2010 for the target of Rs.1910 with a strict stop loss of Rs.2032. Exchange Rs Crore BSE Equity 3,605.0 SUNPHARMA (PREVIOUS CLOSE: 585) BUY BSE Derivatives 2,96,601.3 For today’s trade, long position can be initiated in the range of Rs 577-581 NSE Equity 58,300.7 for the target of Rs.592 with a strict stop loss of Rs.572. NSE Derivatives 44,42,582.7 1 Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA

Technical Research

MARKET SYNOPSIS f On Wednesday, NSE-NIFTY opened lower on back of weak global cues and continued to drift lower across sectors and stocks to close near the low point of the day. f Finally, NIFTY closed the session with the loss of 265 points at 14,549 level. f NSE Cash segment reported turnover of Rs 58,301 crore as compared to Rs 61,733 crore reported earlier. f Overall market breadth remained negative, where 457 stocks advanced against 1430 declined stocks. f Negative momentum was across sectors with the highest decline in Realty, Metals, Banks and Auto to decline by 2.5% average for the day while Pharma remained flat to positive.

NSE-NIFTY OUTLOOK f NSE-NIFTY has failed to give a breakout above 14,900 levels amidst weaker global cues and selling across the board. Overall market breadth turned in favor of the bears and negative trend observed across the sectors. We expect volatility to increase with respect to the derivatives expiry as VIX has gained by 8%. In case of further decline, the index will find support initially at 14,350 being the last week lows followed by 14000 which is the 100 day average. f As for the day, support is placed at around 14,470 and then at 14,390 levels, while resistance is observed at 14,690 and then at 14,830 levels.

2 Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA

Derivatives Snapshot f NIFTY50 continued to drift lower though out the day with sharp profit booking across sectors and stocks. Nifty closed down by 265 points at 14,549 levels. Among the nifty stocks 3 advanced and 47 declined during the day. f Among sectors except for Pharma to end positive Metals Banks, Auto and Realty declined by 2.5% while other sectors were down by 1% for the day. f Broader market indices remained negative with NIFTY 100, 200 and 500 to close down by 1.7% average while midcap indices and small cap indices declined by 2% for the day. f Nifty Mar futures end with 6 points premium at 14,555 mark while on other hand, Bank Nifty Mar futures ended with the premium of 65 points at 33,358 mark. f Nifty has closed at one month low and breakdown of 14,500 PE could trigger sharp covering which would pull the markets lower to the recent lows of 14,350. On the higher side 14900 will continue to act as strong resistance. Sectoral Activity: Amongst sectoral index Metals and Auto remained in focus with negative momentum. Stock Activity: Hindalco and Mother Sumi have witnessed long unwinding in today’s trade.

3 Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA Pivot Table Name LTP Support 2 Support 1 Pivot Resistance 1 Resistance 2 SENSEX 49180 48651 48916 49385 49650 50119 NIFTY 14549 14395 14472 14612 14690 14830 BANKNIFTY 33293 32722 33008 33489 33775 34256 ADANIPORTS 707 665 686 718 739 771 ASIANPAINT 2444 2381 2412 2441 2472 2501 AXISBANK 706 690 698 712 720 733 BAJAJ-AUTO 3604 3524 3564 3631 3671 3738 BAJAJFINSV 9202 9054 9128 9253 9327 9453 BAJFINANCE 5270 5187 5229 5301 5343 5415 BHARTIARTL 524 514 519 526 531 538 BPCL 430 424 427 432 435 440 BRITANNIA 3538 3496 3517 3543 3563 3589 CIPLA 793 762 778 788 804 814 COALINDIA 132 130 131 133 134 136 DIVISLAB 3481 3406 3444 3494 3532 3582 DRREDDY 4351 4279 4315 4367 4403 4455 EICHERMOT 2661 2588 2624 2665 2702 2743 GRASIM 1388 1363 1375 1392 1405 1421 HCLTECH 976 956 966 975 985 994 HDFC 2466 2415 2440 2472 2497 2529 HDFCBANK 1479 1450 1464 1485 1500 1521 HDFCLIFE 677 668 672 679 684 691 HEROMOTOCO 3034 2985 3009 3048 3072 3111 HINDALCO 318 309 314 321 325 332 HINDUNILVR 2319 2293 2306 2328 2341 2364 ICICIBANK 568 555 561 571 577 587 INDUSINDBK 959 936 947 966 977 996 INFY 1354 1333 1343 1357 1367 1381 IOC 95 93 94 95 96 98 ITC 216 210 213 218 221 226 JSWSTEEL 437 426 432 437 443 449 KOTAKBANK 1782 1755 1769 1787 1801 1819 LT 1369 1332 1350 1379 1397 1426 M&M 811 785 798 822 835 858 MARUTI 7066 6983 7025 7092 7133 7200 NESTLEIND 16448 16195 16322 16546 16672 16896 NTPC 106 103 105 107 108 111 ONGC 105 101 103 105 106 108 POWERGRID 221 214 217 221 224 228 RELIANCE 2047 2016 2032 2056 2071 2095 SBILIFE 881 864 872 884 892 904 SBIN 360 352 356 363 366 373 SHREECEM 27803 27301 27552 27971 28223 28642 SUNPHARMA 585 575 580 589 594 602 TATACONSUM 629 616 623 631 637 645 TATAMOTORS 294 286 290 298 302 309 TATASTEEL 703 678 690 712 724 746 TCS 3121 3087 3104 3128 3145 3169 TECHM 992 971 982 998 1008 1024 TITAN 1488 1459 1473 1491 1506 1523 ULTRACEMCO 6859 6777 6818 6881 6922 6985 UPL 609 588 598 617 628 647 WIPRO 411 406 408 412 415 418

4 Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA Simple Moving Average Scrip Name Close Rate 20-SMA 50-SMA 100-SMA 200-SMA HIGH_52WEEK LOW_52WEEK SENSEX 49180 50326 50071 47494 42648 52517 25639 NIFTY 14549 14897 14769 13969 12556 15432 7511 BANKNIFTY 33293 35182 34393 31905 27124 37709 16116 ADANIPORTS 707 714 626 528 435 768 213 ASIANPAINT 2444 2394 2472 2445 2155 2873 1446 AXISBANK 706 737 720 661 553 799 286 BAJAJ-AUTO 3604 3787 3904 3556 3253 4361 1789 BAJAJFINSV 9202 9825 9629 8912 7494 10579 3985 BAJFINANCE 5270 5424 5299 4989 4117 5822 1783 BHARTIARTL 524 538 566 528 521 623 394 BPCL 430 450 426 405 398 482 252 BRITANNIA 3538 3455 3494 3539 3621 4010 2112 CIPLA 793 793 817 797 757 879 373 COALINDIA 132 147 141 136 132 163 110 DIVISLAB 3481 3454 3562 3567 3190 3915 1823 DRREDDY 4351 4425 4696 4845 4667 5513 2796 EICHERMOT 2661 2610 2742 2599 2329 3037 1245 GRASIM 1388 1338 1212 1046 858 1428 385 HCLTECH 976 959 965 919 814 1067 399 HDFC 2466 2571 2634 2485 2159 2896 1473 HDFCBANK 1479 1538 1527 1452 1273 1641 739 HDFCLIFE 677 709 702 675 628 746 346 HEROMOTOCO 3034 3321 3351 3203 3029 3629 1473 HINDALCO 318 338 295 261 216 361 85 HINDUNILVR 2319 2214 2257 2249 2204 2603 1894 ICICIBANK 568 607 597 545 457 679 268 INDUSINDBK 959 1041 1000 921 736 1120 236 INFY 1354 1331 1317 1240 1084 1406 522 IOC 95 100 99 93 89 105 71 ITC 216 211 214 205 196 239 139 JSWSTEEL 437 419 405 381 315 449 133 KOTAKBANK 1782 1883 1889 1872 1608 2049 1041 LT 1369 1472 1457 1306 1108 1593 648 M&M 811 846 844 770 680 952 245 MARUTI 7066 7110 7483 7404 6957 8329 4001 NESTLEIND 16448 16556 17032 17379 16886 18844 12200 NTPC 106 109 102 99 95 115 75 ONGC 105 113 104 94 86 122 60 POWERGRID 221 223 213 201 187 238 145 RELIANCE 2047 2114 2033 2003 2022 2369 887 SBILIFE 881 902 892 872 851 984 530 SBIN 360 386 359 305 249 428 149 SHREECEM 27803 27441 26494 25145 23208 29090 15410 SUNPHARMA 585 604 606 576 539 654 312 TATACONSUM 629 619 607 578 525 654 214 TATAMOTORS 294 322 304 237 180 357 64 TATASTEEL 703 731 697 632 504 783 251 TCS 3121 3035 3124 2953 2646 3340 1633 TECHM 992 982 989 945 816 1082 477 TITAN 1488 1464 1482 1439 1268 1621 721 ULTRACEMCO 6859 6570 6177 5577 4797 6959 2910 UPL 609 606 569 507 491 644 250 WIPRO 411 421 431 396 338 467 168

5 Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA Bulk Deals Snapshot Deal Date Scrip Code Company Client Name Deal Type* Quantity Price 24/03/2021 526921 21STCENMGM FASHIONS BRANDS (INDIA) PRIVATE LIMITED S 235,000 15.66 24/03/2021 526921 21STCENMGM KARTHIK SUNDAR IYER B 186,710 15.66 24/03/2021 542579 AGOL INDIACREDIT RISK MANAGEMENT LLP B 145,600 45.93 24/03/2021 542579 AGOL BEELINE BROKING LIMITED B 169,600 46.03 24/03/2021 542579 AGOL BEELINE BROKING LIMITED S 43,200 46.25 24/03/2021 542579 AGOL MUKESH PATADIA S 206,400 45.73 24/03/2021 530109 ANUPAM NIRMALA P GALA B 75,000 9.94 24/03/2021 530109 ANUPAM REKHA KISHOR SHAH S 124,758 9.98 24/03/2021 530109 ANUPAM SAURIN RAJESH SHAH HUF B 90,141 9.98 24/03/2021 530109 ANUPAM SAURIN RAJESH SHAH HUF S 90,141 10.45 24/03/2021 539017 ASHFL KALU LAL JAIN S 92,002 70.86 24/03/2021 542285 AXITA A B & CO S 68,000 33.31 24/03/2021 524663 BIBCL TOPGAIN FINANCE PRIVATE LIMITED S 269,213 50.49 24/03/2021 539304 CANOPYFIN SANJAY AGARWAL S 90,000 10.50 24/03/2021 539304 CANOPYFIN ZEN ENTERPRISES PRIVATE LIMITED B 180,000 10.50 24/03/2021 502445 CITADEL KOTECHA B 41,822 8.85 24/03/2021 530393 DBSTOCKBRO NEW KMS FINANCE PRIVATE LIMITED B 603,855 8.97 24/03/2021 530393 DBSTOCKBRO VISHAL INVESTFIN PRIVATE LIMITED S 600,080 8.97 24/03/2021 541304 INDOUS SANGITA PRAVINKUMAR TUNDIYA S 35,000 40.75 24/03/2021 541304 INDOUS NATVARSINH T CHAVDA . B 42,500 35.74 24/03/2021 539807 INFIBEAM RAVI OMPRAKASH AGRAWAL B 11,000,000 47.30 24/03/2021 539807 INFIBEAM L7 HITECH PRIVATE LIMITED S 9,962,244 47.25 24/03/2021 505358 INTEGRAEN NNM SECURITIES PVT LTD B 200,000 27.75 24/03/2021 505358 INTEGRAEN NIKUNJ ANILKUMAR MITTAL S 263,554 27.74 24/03/2021 507789 JAGSNPHARM ORION STOCKS LTD B 180,401 81.52 24/03/2021 507789 JAGSNPHARM ORION STOCKS LTD S 144,903 83.25 24/03/2021 531337 JUMPNET PADMAVATI INVESTMENT S 1,226,500 9.83 24/03/2021 531337 JUMPNET NISHIL SURENDRABHAI MARFATIA B 1,363,443 9.83 24/03/2021 512036 KAPILCO PRAKASHCHANDRA MOHANLAL RATHI B 30,000 20.00 24/03/2021 512036 KAPILCO MANSUKH AJAY RAJ PUROHIT S 10,000 20.00 24/03/2021 512036 KAPILCO KELLOG MERCANTILE PRIVATELIMITED S 7,500 20.00 24/03/2021 512036 KAPILCO BANGBHUMI DISTRIBUTORS PRIVATE LIMITED S 7,500 20.00 24/03/2021 539519 MAYUKH INDRESH GOYAL HUF S 22,390 23.50 24/03/2021 538668 NAYSAA NIMESHKUMAR BALDEVBHAI PARMAR B 20,000 26.73 24/03/2021 538668 NAYSAA NIMESHKUMAR BALDEVBHAI PARMAR S 4,000 27.00 24/03/2021 540204 NIDL LENUS FINVEST PRIVATE LIMITED B 34,912 65.51 24/03/2021 540204 NIDL CELESTIAL TRADECHEM PRIVATE LIMITED S 19,800 65.50 24/03/2021 540204 NIDL YOGESH HARISH PANDYA S 47,136 66.59 24/03/2021 540204 NIDL SVAKS BIOTECH INDIA PRIVATE LIMITED B 26,000 66.36 24/03/2021 538772 NIYOGIN STRATEGIC INDIA EQUITY FUND S 959,000 61.01 24/03/2021 538772 NIYOGIN AMEE HEMANT PARIKH B 825,000 61.00 24/03/2021 526905 PADMAIND PRASHANT PATEL S 100,000 4.74 24/03/2021 526905 PADMAIND BHAVIK KALPESH SHAH B 100,000 4.74 24/03/2021 532911 PARLEIND NAVEEN GUPTA B 88,650 8.87 24/03/2021 532911 PARLEIND NAVEEN GUPTA S 88,650 8.89 24/03/2021 532911 PARLEIND KAMAL KUMAR JALAN SEC. PVT. LTD B 123,181 8.85

*B - Buy, S - Sell, ** = Weighted Average Trade Price / Trade Price 6 Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA

Monthly Economic Calendar

Date Country Event Period Survey Prior 25-03-2021 Eurozone ECB M3 Annual Growth Rate SA FEB - 12.50 25-03-2021 United States Kansas City Federal Reserve SA MAR - 24.00 25-03-2021 United States GDP US Chained 2012 Dollars Qo 4Q T - 4.10 25-03-2021 United States GDP US Personal Consumption Ch 4Q T - 2.40 25-03-2021 United States US GDP Price Index QoQ SAAR 4Q T - 2.10 25-03-2021 United States US GDP Personal Consumption Co 4Q T - 1.40 United States ISM Milwaukee Purchasers Manuf 29-03-2021 United States Dallas Fed Manufacturing Outlo MAR - 17.20 30-03-2021 United States S&P CoreLogic Case-Shiller 20- JAN - 1.25 30-03-2021 United States S&P CoreLogic Case-Shiller 20- JAN - 10.10 United States S&P CoreLogic Case-Shiller 20- 30-03-2021 United States Conference Board Consumer Conf MAR - 91.30 30-03-2021 Eurozone European Commission Manufactur MAR - -3.30 Eurozone European Commission Euro Area 30-03-2021 Eurozone European Commission Economic S MAR - 93.40 30-03-2021 United States FHFA US House Price Index Purc JAN - 1.10 31-03-2021 United States Market News International Chic MAR - 59.50 31-03-2021 United States US Pending Home Sales Index Mo FEB - -2.80 31-03-2021 United States US Pending Home Sales Index Yo FEB - 8.20 31-03-2021 China China Manufacturing PMI SA MAR 51.00 50.60 31-03-2021 China China Non-Manufacturing PMI SA MAR - 51.40 01-04-2021 Japan Japan Vehicle Sales YOY MAR - -2.20 29-03-2021 United Kingdom UK Lending to Individuals Net FEB 5.00 5.17 29-03-2021 United Kingdom UK Money Supply M4 YoY SA FEB - 13.30 29-03-2021 United Kingdom UK Money Supply M4 MoM SA FEB - 0.70 29-03-2021 United Kingdom Bank of England UK Mortgage Ap FEB 98.00 98.99 01-04-2021 United States ISM Manufacturing PMI SA MAR 58.90 60.80 01-04-2021 United States ISM Manufacturing Report on Bu MAR 80.00 86.00 01-04-2021 United States Census Bureau US Construction FEB 0.75 1.70

7 Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA

Corporate Actions Company Name Ex-Date Purpose GOVERNMENT OF INDIA 25-Mar-21 Interest Payment Varun Beverages Limited 26-Mar-21 Annual General Meeting CRISIL Limited 30-Mar-21 Annual General Meeting/Dividend - Rs 14 Per Share Government of India 30-Mar-21 Interest Payment ACC Limited 30-Mar-21 Annual General Meeting/Dividend - Rs 14 Per Share GOVERNMENT OF INDIA 31-Mar-21 Interest Payment GOVERNMENT OF INDIA 05-Apr-21 Interest Payment GOVERNMENT OF INDIA 06-Apr-21 Interest Payment GOVERNMENT OF INDIA 07-Apr-21 Interest Payment/Redemption/ Government of India 08-Apr-21 Interest Payment Government of India 08-Apr-21 Interest Payment GOVERNMENT OF INDIA 09-Apr-21 Interest Payment Government of India 15-Apr-21 Interest Payment Ksb Limited 15-Apr-21 Annual General Meeting/Dividend - Rs 8.5 Per Share Sanofi India Limited 19-Apr-21 Dividend - Rs 125 Per Share Special Dividend 240 Per Share Vesuvius India Limited 19-Apr-21 Dividend - Rs 7 Per Share Schaeffler India Limited 19-Apr-21 Annual General Meeting/Dividend - Rs 38 Per Share ABB India Limited 19-Apr-21 Annual General Meeting/Dividend - Rs 5 Per Share Castrol India Limited 22-Apr-21 Annual General Meeting/Dividend - Rs 3 Per Share GOVERNMENT OF INDIA 22-Apr-21 Interest Payment Government of India 29-Apr-21 Interest Payment Government of India 29-Apr-21 Interest Payment

8 Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA

Guided Allocation Towards Research Products Product Max. Allocation Number Frequency Call Duration Allocation (%) in 1 stock (%) of Calls Trading Products Intraday 30 25-30 3-4 stocks Daily Daily Positional Calls/weekly calls/BTST 30 15-20 6-7 stocks Weekly Fortnightly TradEdge 15 25-50 2 stocks Fortnightly Monthly Option Strategies 15 10-20 2 stocks Weekly Weekly Cash 10 Total 100

Product Max. Allocation Number Frequency Call Duration Allocation (%) in 1 stock (%) of Calls Investment Products Rsec Model Portfolio 25 10 8-10 stocks Monthly Half Yearly Stock In Focus 25 5 1 stock Daily Quarterly Fundamental Calls 25 5 10 Quarterly Yearly Initiating Coverage 20 10 As and When Yearly Cash 5 Total 100

9 Institutional Equity Research NIFTY 14549 IN FOCUS March 25, 2021 Support 14470 Stock in Focus BHARAT FORGE MARKET LENS 14390 Intraday Pic BAJAJ-AUTO Resistance 14690 Intraday Pick MINDTREE 14830 Intraday Pick SUNPHARMA

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