Datasets:

shaaz10

/

varsity

like 0

{"title": "4. Risk (Part 3) \u2013 Variance & Covariance Matrix", "text": ["Let us begin this chapter with a quick recap of our discussion so far.", "We started this module with a discussion on the two kinds of risk a market participant is exposed to, when he or she purchases a stock \u2013 namely the systematic risk and the unsystematic risk. Having understood the basic difference between these two types of risk, we proceeded towards understanding risk from a portfolio perspective. In our discussion leading to portfolio risk or portfolio variance, we discussed two crucial concepts \u2013 variance and co variance. Variance is the deviation of a stock\u2019s return with its own average returns. Co variance on the other hand is the variance of a stock\u2019s return with respect to another stocks\u2019 return. The discussion on variance and co variance was mainly with respect to a two stock portfolio; however we concluded that a typical equity portfolio contains multiple stocks. In order to estimate the variance co variance and the correlation of a multi stock portfolio, we need the help of matrix algebra.", "So that\u2019s where we are as of now.", "In this chapter we will extent this discussion to estimate the \u2018variance co variance\u2019 of multiple stocks; this will introduce us to matrix multiplication and other concepts. However, the \u2018variance covariance\u2019 matrix alone does not convey much information. To make sense of this, we need to develop the correlation matrix. Once we are through with this part, we use the results of the correlation matrix to calculate the portfolio variance. Remember, our end goal is to estimate the portfolio variance. Portfolio variance tells us the amount of risk one is exposed to when he or she holds a set of stocks in the portfolio.", "At this stage you should realize that we are focusing on risk from the entire portfolio perspective. While we are at it we will also discuss \u2018asset allocation\u2019 and how it impacts portfolio returns and risk. This will also include a quick take on the concept of \u2018value at risk\u2019.", "Of course, we will also take a detailed look at risk from a trader\u2019s perspective. How one can identify trading risk and ways to mitigate the same.", "", "Before we proceed any further, I\u2019ve been talking about \u2018Variance Covariance matrix\u2019. Just to clear up any confusion \u2013 is it \u2018variance covariance matrix\u2019 or is it a variance matrix and a covariance matrix? \u00a0Or is it just one matrix i.e the \u2018Variance Covariance matrix\u2019.", "Well, is it just one matrix i.e the \u2018Variance Covariance matrix\u2019. Think about it, if there are 5 stocks, then this matrix should convey information on the variance of a stock and it should also convey the covariance of between stock 1 and the other 4 stock. Soon we will take up an example and I guess you will have a lot more clarity on this.", "Please do note \u2013 it is advisable for you to know some basis on matrix operations. If not, here is a great video from Khan Academy which introduces matrix multiplication \u2013", "", "Anyway, continuing from the previous chapter, let us now try and calculate the Variance Covariance matrix followed by the correlation matrix for a portfolio with multiple stocks. A well diversified (high conviction) portfolio typically consists of about 10-15 stocks. I\u2019d have loved to take up a portfolio of this size to demonstrate the calculation of the variance covariance matrix, but then, it would be a very cumbersome affair on excel and there is a good a newbie could get intimidated with the sheer size of the matrix, hence for this reason, I just decided to have a 5 stock portfolio.", "The following 5 stocks constitutes my portfolio \u2013", "The size of the variance covariance matrix for a 5 stock portfolio will be 5 x 5. In general, if there are \u2018k\u2019 stocks in the portfolio, then the size of the variance covariance matrix will be k x k (read this as k by k).", "The formula to create a variance covariance matrix is as follows \u2013", "", "Where,", "k = number of stocks in the portfolio", "n = number of observations", "X = this is the n x k excess return matrix. We will understand this better shortly", "XT \u00a0= transpose matrix of X", "Here is a quick explanation of what is going on in that formula. You may understand this better when we deal with its implementation.", "In simple terms, we first calculate the n x k excess return matrix; multiply this matrix by its own transpose matrix. This is a matrix multiplication and the resulting matrix will be a k x k matrix. We then divide each element of this k x k matrix by n, where n denotes the number of observations. The resulting matrix after this division is a k x k variance covariance matrix.", "Generating the k x k variance covariance matrix is one step away from our final objective i.e getting the correlation matrix.", "So, let us apply this formula and generate the variance covariance matrix for the 5 stocks listed above. I\u2019m using MS excel for this. I have downloaded the daily closing prices for the 5 stocks for the last 6 months.", "Step 1 \u2013 Calculated the daily returns. I guess you are quite familiar with this by now. I\u2019m not going to explain how to calculate the daily returns. Here is the excel snapshot.", "", "", "As you can see, I\u2019ve lined up the stock\u2019s closing price and next to it I have calculated the daily returns. I have indicated the formula to calculate the daily return.", "Step 2 \u2013 Calculate the average daily returns for each stock. You can do this by using the \u2018average\u2019 function in excel.", "", "Step 3 \u2013 Set up the excess return matrix.", "Excess return matrix is defined as the difference between stock\u2019s daily return over its average return. If you recall, we did this in the previous chapter while discussing covariance between two stocks.", "I\u2019ve set up the excess return matrix in the following way \u2013", "", "Do note, the resulting matrix is of n x k size, where n represents the number of observations (127 in this case) and k denotes the number of stocks (5 stocks). So in our example the matrix size is 127 x 5. We have denoted this matrix as X.", "Step 4 \u2013 Generate the XT X matrix operation to create a k x k matrix", "This may sound fancy, but it is not.", "XT is a new matrix, formed by interchanging the rows and columns of the original matrix X. When you interchange the rows and columns of a matrix to form a new one, then it is referred to as a transpose matrix of X and denoted as XT. Our objective now is to multiply the original matrix with its transpose. This is denoted as XT X.", "Note, the resulting matrix from this operation will result in a k x k matrix, where k denotes the number of stocks in the portfolio. In our case this will be 5 x 5.", "We can do this in one shot in excel. I will use the following function steps to create the k x k matrix \u2013", "List down the stocks in rows and columns \u2013", "", "Apply the function = \u2018MMULT ((transpose X), X). Remember X is the excess return matrix.", "", "Do note, while applying this formula, you need to ensure that you highlight the k x k matrix. Once you finish typing the formula, do note \u2013 you cannot hit \u2018enter\u2019 directly. You will hit ctrl+shift+enter. In fact, for all array functions in excel, use ctrl+shift+enter.", "So once you hit ctrl+shift+enter, excel will present you with a beautiful k x k matrix, which in this case looks like this \u2013", "", "Step 5 \u2013 This is the last step in creating the variance covariance matrix. We now have to divide each element of the XT X matrix by the total number of observations i.e n. For your clarity, let me post the formula for the variance covariance matrix again \u2013", "", "Again, we start by creating the layout for k x k matrix \u2013", "", "Once the layout is set, without deselecting the cells, select the entire XT X matrix and divide it by n i.e 127. Do note, this is still an array function; hence you need to hit ctrl+shift+enter and not just enter.", "", "Once you hit control shift enter, you will get the \u2018Variance \u2013 Covariance\u2019 matrix. Do note, the numbers in the matrix will be very small, do not worry about this. Here is the variance co variance matrix \u2013", "", "", "Let us spend some time to understand the \u2018Variance \u2013 Covariance\u2019 matrix better. Suppose I want to know the covariance between any two stocks, lets say Wonderla and PVR, then I simply have to look for Wonderla on the left hand side and in the same row, look for the value which coincides with PVR. This would be the covariance between the two stocks. I\u2019ve highlighted the same in yellow \u2013", "", "So the matrix suggests that the covariance between Wonderla and PVR is 0.000034. Do note, this is the same as the covariance between PVR and Wonderla.", "Further, notice the number highlighted in blue. This value corresponds to Cipla and Cipla. What do you this represents? This represents the covariance between Cipla and Cipla, and if you realize, covariance of a stock with itself, is nothing but variance!", "This is exactly why this matrix is called \u2018Variance \u2013 Covariance Matrix\u2019, cause it gives us both the values.", "Now, here is the bitter pill \u2013 the variance and covariance matrix on its own is quite useless. These are extremely small numbers and it is hard to derive any meaning out of it. What we really need is the \u2018Correlation Matrix\u2019.", "In the next chapter, let us deal with generating the correlation matrix, and also work towards estimating the portfolio variance, which is our end objective. However, before we close this chapter, here are few tasks for you \u2013", "You can download the excel sheet used in this chapter.", "Hi Karthik, before we start building a portfolio, is it a good idea to make the co variance analysis explained in this chapter using the sectoral indices and then pick sectors that have a negative covariance. Then we can pick stocks from these selected sectors ?? this is just to make sure that I am handling the unsystematic risk even before I pick the stock. Thanks.", "No, always pick stocks based on factors such as business prospect, numbers, margins etc. Once you have a portfolio, you can go ahead and calculate these things,\u2026.remember, we are gearing towards finding out the portfolio risk. That will eventually help us asset allocation etc. I think the next chapter or 2 will give you some insights into this.", "Hi, Karthik, Just slightly unclear about corrrelation and Beta. U explained that correlation gives you the magnitude of a relationship between 2 stocks and I guess Beta which we use in futures hedging also did the same thing ie. magnitude of relationship between stock and index. Can you add few words to simplify and explain the subtle differences and commonalities between Beta and Corelation. Thanks", "Beta is basically a measure to estimate the market risk of a stock (systemic risk), in a sense, it is a measure or risk\u2026also unlike correlation, beta is not bound by values. Correlation on the other had defines how two variables move and are related.", "Dear Sir , this is really an impressive write up . I have browsed through hundreds of sites to quench my thirst for the stock markets but with no success. Finally i landed up at Varsity n its great for a beginner like up..\nI have been waiting for a write up on Financial Modelling topic . It would be great if u educate us on the same .", "It is one of the topics that I like too \ud83d\ude42", "Will take it up sometime soon.", "very informative!! Sir, will you please explain correlation/std dev between two stocks? Also some knowledge about pair trading..", "Have spoke about correlation here \u2013 http://zerodha.com/varsity/chapter/the-usd-inr-pair-part-2/, will talk about Pair trading in one of the future modules.", "is it useful for intraday trading? i am trading from 1 year but this thing is new to me?? please clarify me", "No, its useful if you have a long term portfolio.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/M9C4-cartoon.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/matrix-formula.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-2_rt.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-3_avg.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-4_excess-rt.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-5_Xt.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-6_mmult.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-7_xtx-complete.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/matrix-formula.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-9_lay.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-10_covar.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-11_complete.png", "http://zerodha.com/varsity/wp-content/uploads/2017/03/Image-12_covar-1.png", "https://secure.gravatar.com/avatar/bf4707ddc0d5b6485f42335abc0287d5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/955ac581c7b001a5393dc1b172f036b7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/12dcb5a2ffd6024cda9639710d26415a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/027865ff0c612ea5425cbb6e36f036cd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/bc1d6c08c8ef846529575f1a3475c0cb?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "6. Equity Curve", "text": ["This is off topic \u2013 but a little digression hurts no one, I guess. Of all the chapters I have written in Varsity, I guess this one will be a very special one for me. Not because of the topic that I will be discussing. It is because of the place where I\u2019m sitting right now and writing this for you all. Its 6:15 AM \u2013 surrounding me 360 degrees are misty mountains; the landscape I guess cannot get any better. There is only one shack here with a little music player, playing Bob Marley\u2019s Redemption Song. \u00a0Can it get any better? At least not for me I guess \ud83d\ude42", "", "Anyway, back to school \u263a", "We discussed Portfolio Variance in the previous chapter. It would be pointless to crunch all the numbers to extract the variance of the portfolio, unless we put that to good use. This is exactly what we will achieve over the next 2 chapters.", "Over the next 2 chapters, we will try and do the following \u2013", "Note, this chapter is a continuation of the discussion panned out in the previous chapters. You need to know the context here. If you are reading this chapter without knowing what happened over the last few chapters, then I\u2019d suggest you go back and read those chapters first.", "We will use this opportunity to develop an equity curve for the 5 stock portfolio that we have. In a very lose sense, a typical equity curve helps you visualize the performance of the portfolio on a normalized scale of 100. In other words, it will help you understand how Rs.100/- invested in this portfolio would have performed over the given period. You can further use this to benchmark the portfolio\u2019s performance against its benchmark \u2013 say Nifty 50 or BSE Sensex.", "There are certain attributes which can be extracted out of the equity curve to develop deeper insights on the portfolio. More on that later.", "Let us proceed to build an equity curve for the 5 stock portfolio. Remember, we had the following stocks and we also assigned random weights to these stock to form our portfolio. Here are the stock names along with the weightages \u2013", "So what does \u2018Investment weight\u2019 means? \u2013 It represents the percentage of your corpus invested in the stock. For example, out of Rs.100,000/-, Rs.7,000/- has been invested in Cipla and Rs.22,000/- has been invested in Alkem Lab. So on and so forth.", "While developing an equity curve, the usual practice is to normalize the portfolio for Rs.100. This helps us understand how an investment of Rs.100/- in this portfolio behaved during the period of investment. I have incorporated this in the excel sheet (please note, the excel used here is a continuation of the excel used in the previous chapter)", "Have a look at the image below \u2013", "", "I have introduced a new column next to the daily return column and included the weight of the respective stock. At the end, you will find two new column being introduced \u2013 starting value pegged at 100 and total weight at 100%.", "Starting value \u2013 this is basically the amount of money we are starting with. I have set this to Rs.100/-. This means, out of the 100 Rupees in total corpus, Rupees 7 is being invested in Cipla, Rupees 16 in Idea, Rupee 25 in Wonderla so on and so forth.", "Now, if I add up the individual weights, then they should all add up to 100%, indicating that 100% of Rs.100 is being invested.", "We now have to see how the investment in each stock has performed. To help you understand this better, lets take up the case of Cipla for now. The weight assigned to Cipla is 7%, which means out of Rs.100, Rs.7 is invested in Cipla. Based on the daily price movement of Cipla, our money i.e Rs.7/- either increases or decreases. It is important to note that, if on day 1, if Rs.7 becomes, Rs.7.5/- then the following day, our starting price is Rs.7.5 and not Rs.7/-. I\u2019ve done this on excel for Cipla, and this is how the calculation looks.", "", "On 1st Sept, Cipla was trading at 579.15, this is the day we decided to invest Rs.7 in the stock. I understand that this is technically not possible, but for the sake of this example, let us just assume this is possible and proceed. So on day one i.e 1st Sept, 7 is invested, on 2nd Sept Cipla closed at 577.95, down -0.21% from the previous day. This also means we lose -0.21% on our investment of Rs.7/- making it Rs.6.985. On 6th Sept Cipla shot up by 0.11% to 578.6, hence we gain 0.11% on 6.985 to make it 6.993. So on and so forth the rest of the data points.", "I\u2019ve done this math for all the stocks in portfolio and here is how the table looks \u2013", "", "I\u2019ve calculated the daily fluctuation in the invested price across all stocks and I;ve highlighted the same in blue.", "Now, think about what is happening here \u2013 I\u2019ve basically split Rs.100/- across 5 stocks and invested in different proportions. If I sum up the daily variation in each stock, I should be able to get the overall daily fluctuation of Rs.100, right? Doing this gives me the overall perspective on how my portfolio is moving. Let me add these up and see how Rs.100 invested across 5 stocks moves on a daily basis \u2013", "", "Adding up the values on a daily basis gives me the time series of the daily fluctuation of the portfolio.", "", "An \u2018Equity Curve\u2019 (EQ curve) can be developed if you plot the chart of this \u2013 i.e the time series data of the daily normalized portfolio value. I say normalized because I\u2019ve scaled down the investment to Rs.100/-.", "So, here is the EQ curve for the portfolio that we have \u2013", "", "As easy as that. Eq curve is a very popular way of visualizing the portfolio performance. It gives a quick estimate of the returns generated by the portfolio. In this case, we started with and investment of Rs.100/- and at the end of 6 months the portfolio was valued at 113.84. Have a look at the image below \u2013", "", "So without much thinking, I know the portfolio has done close to 13.8% during the given period.", "Now, here is something I\u2019d like you to think about. In the previous chapter, we calculated the portfolio variance. While doing so, one of the key things we had to calculate was the standard deviation of each stock. Standard deviation as you may know, represents the volatility of the stock which is nothing but the risk associated with the stock.", "To calculate the standard deviation, we used the inbuilt excel function \u2018=STDEV()\u2019 applied on the daily return of the stock. Now, think about this \u2013 we anyway have the daily value of the portfolio (although normalized to Rs.100).", "Now imagine the portfolio itself in its entirety, as a whole, as a single stock, and calculate its daily returns. Just like how we calculated the daily returns of the stocks in the previous chapter. Further, what if I apply the \u2018=STDEV()\u2019 function on the portfolio\u2019s daily return? The resulting value should be the standard deviation of the portfolio which in other words should represents risk also called as Variance of the portfolio.", "Are you able to sense where we are heading? Yes, we are talking about calculating portfolio variance using a different approach all together \u263a", "To help you comprehend this better, let me paste the portfolio variance value we calculated in the previous chapter,\u2013", "", "We calculated the above value using the matrix multiplication and the correlation matrix technique.", "We will now look at the portfolio as a whole and calculate the daily returns of the normalized portfolio value. The standard deviation of the portfolio\u2019s daily returns should yield us a value equal to or somewhere near the portfolio variance calculated previously.", "I\u2019ve included a new column next to the daily normalized portfolio value and calculated the Portfolio\u2019s daily returns \u2013", "", "Once I have the returns in place, I will apply the standard deviation function on the time series data, this should yield a value close to the portfolio variance value we previously calculated.", "", "So there you go, the STDEV function gives us the exact same value!", "You can download the excel sheet used in this chapter. In the next chapter, we will use the portfolio variance to estimate the expected returns along with optimization.", "Quick Task \u2013 I\u2019d like to leave you with a quick task here. We have assigned random weights to the stocks. Go ahead and change the weights of the stocks and see the impact on the overall returns. Do share your observation in the comment box below.", "Dear Karthik,", "What if Quantity of Shares (i.e. Weightage %) is not constant, due to additional buy/ reduction by sell in any scrip?\nAlso what if we add/remove any scrips from portfolio in between?", "How to take care of that while calculating the portfolio variance?", "Thanks \ud83d\ude42", "Ah, good point. When you add remove shares, your weightages in each stock changes and you develop the EQ graph in the routine way. Anyway, will try and put out a supplementary note on this sometime soon.", "Thanks a lot Karthik. Your webinars are also awesome. Zerodha Varsity is great source of knowledge for a novice like me. The subject is so vast and there is so much to learn, but the way you are feeding us spoon by spoon, it makes things simple and easy to grasp. I am really greatful to you.", "Thanks once again \ud83d\ude42", "Hey, thanks for the kind words, Santosh. Its still a long way to go for all of us at Zerodha \ud83d\ude42", "Happy learning.", "hiiii sir im krishna saud\npalan", "Great to meet you, Krishna!", "The first is question \u2013 Where is that blissful place ? \ud83d\ude42", "Somewhere in the North East of India \ud83d\ude42", "Hi, Nice chapter!! Well I would like to know how to manage risk while trading in Commodities Derivative and about commodity position sizing, hedging position!!\nWill that be covered in coming chapters, Sir??", "Yes, we are currently discussing risk from a portfolio perspective, we will soon move to single and muti leg futures position.", "Dear Karthik,", "Well Karthik all your classes are just equivalent to gold like me. Wonderful Job Karthik, One doubt.. when i have done the Portfolio SD its coming 1.12% instend of 1.11%. You have mentioned the formula in ur excel file as \u201c_xlfn.STDEV.P(R5:R130) didn\u2019t understand this formula. What\u2019s the problem if we give the formula stdev(R5:R130) which comes to 1.12.", "Awaiting the doubt to get cleared.", "Regards,", "Sonjoe Joseph", "\u2018=STDEV()\u2019 is a excel function, behind which is the mathematical formula to calculate standard deviation. 1.12% is good, I guess minor decimal difference. Are you doing this on the same portfolio?", "Yes i\u2019m doing on the same portfolio.", "Good luck!", "Sir,\nI have tried the above exercises but I am facing a problem. The the result of STDEV which has been calculated here is nowhere matching my portfolio variance. Also, since the SD would anyway vary with the changing weight of each share, how would the Stdev. then always match the portfolio variance ? BTW I am not using the above portfolio, I have developed a portfolio of my own. AND a TON of thanks for creating such a great resource :-).", "Abhas, if it\u2019s a different portfolio, then the values will not match with what we have here. Btw, the portfolio variance won\u2019t vary drastically on a day to day basis.", "Respected Sir,\nGratitude !!\nThis module seems like a boon for (neophyte) Investors. Unfortunately, I categorize myself as a Trader (my trades range mainly 0-6 days or so). I understand that it is valuable for both Investors & Traders, depending upon one\u2019s ability to retrieve useful info from data for one\u2019s use. But, a novice like me would like to have some clarity of \u2018Risk Management\u2019 section from a Trader\u2019s perspective as well. Also, I wonder if \u2018Trading Psychology\u2019 section of this Module will also throw some light on psychology of a trader.\nMy experience \u2013\nFew years ago, I was apprised by a broker to put orders at, say, 189.95 instead of 190, or at 150.05 instead of 150. Nothing technical, he told some pure psychological reason (do not remember now) leading to a special order picking behavior in market depth. Later I browsed a lot but couldn\u2019t figure this out. I wonder if such psychological scenarios exist. If yes, will these be included in this module? Or please provide any reference/ books for such insights that one (otherwise) learns from one\u2019s experience only.\nBy the way \u2013\nGraph of typos has been above its 20DMA for last 2-3 Modules. It has formed Bullish Marubozu in last two chapters consecutively. I guess it\u2019s better to go Long on spell&grammar check tool, like Ginger, to crash such trends in few seconds. Sorry for pointing it out.\n\u2013\nComing soon in the awesome world of Zerodha \ud83d\ude42 \ud83d\ude42\n\u2013\nRegards\nJames", "Thanks pointing this out. I understand the grammar and typos \u2013 there are way too many. I\u2019ll probably use one of thoes tools.", "Anyway, I too use figures like 189.95 instead of 190 \u2013 I\u2019ve observed the fills are faster. As of now the module\u2019s focus is risk management from portfolio perspective. Will soon shift to the traders perspective.", "Ohh !! Thanks a lot. I would be highly glad & obliged to see more such (traders\u2019) psychological tricks in this module so as to understand their mechanism insight \u2013 how these works. By the way, is/are there any book(s) for same??\nQuestion \u2013 You have described two methods of return calculation in excel \u2014 \u2018=ln(c3/c2)\u2019 and \u2018=c3/c2-1\u2019. Which one is more practically preferable?\nThanks in advance\nBest Regards", "There are are quite a few books on this topic, unable to think of one though. Will keep you posted.", "For more than 2 year of data, I\u2019d suggest you take the ln returns, otherwise regular rt should be alright.", "Thanks a lot.", "Welcome!", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/M9-C6-Cartoon.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-2_wt.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-3_daily-change.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-4_wt-daily-change.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-5_port-eq.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-6_port-all-values.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-7_Eq-curve.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-8_end-value.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-9_port-var.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-10_port-varisd.png", "http://zerodha.com/varsity/wp-content/uploads/2017/04/Image-11_sd.png", "https://secure.gravatar.com/avatar/16bddbef4454391a5f45c6b4ceece55b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/16bddbef4454391a5f45c6b4ceece55b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9bbd5cc14cda49b6db0140fa0b7bf231?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/81b059c04ab970ef3456a50518c0fd1d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5c8efd614be3f8999a6cdaf97497e994?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ab5554c4af6f5235484e03dee5ec2d3c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ab5554c4af6f5235484e03dee5ec2d3c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/14bd8aece3a3bd962f49c51a6356ecd9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9a2ce1fb42c41e2fd873f81fcc7a983f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9a2ce1fb42c41e2fd873f81fcc7a983f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9a2ce1fb42c41e2fd873f81fcc7a983f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th width=\"104\"><strong>Stock Name</strong></th>\n<th width=\"117\"><strong>Investment weight</strong></th>\n</tr>\n<tr>\n<td width=\"104\">Cipla</td>\n<td width=\"117\">7%</td>\n</tr>\n<tr>\n<td width=\"104\">Idea Cellular Ltd</td>\n<td width=\"117\">16%</td>\n</tr>\n<tr>\n<td width=\"104\">Wonderla</td>\n<td width=\"117\">25%</td>\n</tr>\n<tr>\n<td width=\"104\">PVR</td>\n<td width=\"117\">30%</td>\n</tr>\n<tr>\n<td width=\"104\">Alkem</td>\n<td width=\"117\">22%</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "7. Expected Returns", "text": ["", "The next two chapter will be very insightful, especially for people who have never been familiar with portfolio techniques. We will venture into the realms of expected return framework and portfolio optimization. Portfolio optimization in particular (which we will discuss in the next chapter) is like a magic wand, it helps you decide how much to invest in a particular stock (within a portfolio) so that you achieve the best possible results in terms of risk and return. These are topics which the high priests of finance prefer to keep for themselves, but today we will discuss them here and truly work towards democratizing quality financial knowledge.", "But please note, to best understand the discussion here, you need to have a sense of all the things we have discussed over the previous couple of chapters. If you have not read them yet, please, I\u2019d urge you to read them first. This is good quality information and you would be a better market participant if you simply spent few hours reading them. The excel sheet used here is a continuation of the one used in the previous chapters.", "So assuming you are all set, let us get started.", "It is time we put the portfolio variance to good use. To begin with let us take a good look at the portfolio variance number calculated in the previous chapters \u2013", "", "What does this number tell you?", "The number gives you a sense of the degree of the risk associated with the portfolio. Remember, we worked on the daily data, hence the Portfolio Variance of 1.11% represents risk on a daily basis.", "Risk or variance or volatility is like a coin with two faces. Any price movement below our entry price is called risk while at the same time, the same price movement above our entry price is called return. We will soon use the variance data to establish the expected range within which the portfolio is likely to move over the year. If you\u2019ve read the Options module you will probably know where we are headed.", "However, before doing that, we need to figure out the expected return of the portfolio. The expected return of the portfolio is simply, the grand sum of the average return of each stock, multiplied by its weight and further multiplied by 252 (number of trading days). In simple terms, we are scaling the daily returns to its annual return, and then scaling it according to the investment we have made.", "Let us calculate the expected return for the portfolio that we have, I\u2019m sure you will understand this better. To begin with, I\u2019ve lined up the data as follows \u2013", "", "The first 3 columns are fairly easy to understand I suppose. The last column is simply the multiplication of the daily average return by 252 \u2013 this is a step to annualize the return of the stock.", "For example (Cipla) \u2013 0.06% * 252 = 15.49%.", "What does this mean? For a moment assume, I have invested all the money in just Cipla and not other stocks, then the weight of Cipla would be 100% and I can expect a return fo 15.49%. However, since I\u2019ve invested only 7% of my capital in Cipla, the expected return from Cipla would be \u2013", "Weight * Expected Return", "= 7% * 15.49%", "=1.08%", "We can generalize this at the portfolio level to get the expected return of the portfolio \u2013", "", "Where,", "Wt = Weight of each stock", "Rt = Expected annual return of the stock", "I\u2019ve applied the same formula for the 5 stock portfolio that we\u2019ve got, and here is what we have \u2013", "", "At this stage, we have arrived at two extremely important portfolio parameters. They are the expected portfolio return which is 55.14% and the portfolio variance which is 1.11%.", "In fact, we can scale the portfolio variance to represent the annual variance, to do this we simply have to multiply the daily variance by Square root of 252.", "Annual variance =", "= 1.11% * Sqrt (252)", "= 17.64%.", "We will keep both these important numbers aside.", "It is now time to recall our discussion on normal distribution from the options module.", "I\u2019d suggest you quickly read through the \u2018Dalton board experiment\u2019 and understand normal distribution and how one can use this to develop an opinion on future outcome. Understanding normal distribution and its characteristics is quite crucial at this point. I\u2019d encourage you to read through it before proceeding.", "Portfolio returns are normally distributed, I\u2019ll skip plotting the distribution here, but maybe you can do this as an exercise. Anyway, if you do plot the distribution of a portfolio, you are likely to get a normally distributed portfolio. If the portfolio is normally distributed, then we can estimate the likely return of this portfolio over the next 1 year with certain degree of confidence.", "To estimate the return with certain degree of confidence we simply have to add and subtract the portfolio variance from the expected annualized return. By doing so we will know how much the portfolio will generate or lose for the given year.", "In other words, based on normal distribution, we can predict (although I hate using the word predict in markets) the range within which the portfolio is likely to fluctuate. The accuracy of this predication varies across three levels.", "Remember, variance is measured in terms of standard deviation. So it is important to note that the annualized portfolio variance of 17.64% is also the 1 standard deviation.", "So, 17.64% represents 1 standard deviation. Therefore, two standard deviation is 17.64% * 2 = 35.28% and 3 standard deviation would be 17.64% * 3 = 52.92%.", "If you are reading this for the first time, then yes, I\u2019d agree it would not be making any sense. Hence it is important to understand normal distribution and its characteristics. I\u2019ve explained the same in the options chapter (link provided earlier).", "Given the annualized variance (17.64%) and expected annual return (55.14%), we can now go ahead and estimate the likely range within which the portfolio returns are likely to vary over the next year. Remember when we are talking about a range, we are taking about a lower and upper bound number.", "To calculate the upper bound number, we simply had to add the annualized portfolio variance to the expected annual return i.e 17.64% + 55.15% = 72.79%. To calculate the lower bound range we simply have to deduct the annualized portfolio variance from the expected annual return i.e 55.15% \u2013 17.64% = 37.51%.", "So, if you were to ask me \u2013 how are the returns likely to be if I decide to hold the 5 stock portfolio over the next year, then my answer would be that the returns are likely to fluctuate between +37.51% and +72.79%.", "Three quick question may crop up at this stage \u2013", "Let us do that now.", "To calculate the range with 95% confidence, we have to shift gears and move to the 2nd standard deviation. Which means we have to multiply the 1 standard deviation number by 2. We have done this math before, so we know the 2nd SD is 35.28%.", "Given this, the range of the portfolio\u2019s return over the next 1 year, with 95% confidence would be \u2013", "Lower bound = 55.15% \u2013 35.28% = 19.87%", "Upper bound = 55.15% + 35.28% = 90.43%", "We can further increase the confidence level to 99% and check the return\u2019s range for 3 standard deviation, recall at 3 SD, the variance is 52.92% \u2013", "Lower bound = 55.15% \u2013 52.92%% = 2.23%", "Upper bound = 55.15% + 52.92% = 108.07%", "As you may notice, the higher the confidence level, the larger the range. I\u2019ll end this chapter here with a set of tasks for you \u2013", "It will be great if you can attempt these tasks, please do leave your thoughts in the comment box below.", "You can download the excel sheet used in this chapter.", "Thanks a lot for initiating such a nice Varsity. I would like to know, do you have any plan to launch a mobile app for Varsity? That would be a great interface to learn on the go.", "Varsity is already mobile friendly, the site itself adjusts to the mobile device.", "Great", "Cheers!", "Thanks a lot for such a great initiative. I\u2019ve never seen so much information about finance in such easy to unterstand language at one place.\nThis might be a slightly uncorrelated quoestion but I want to start learning algo trading and quant finance.", "I\u2019ve engineering background and have 6-7 years experience in investing in stock markets. Is it feasible to someone like me to get started in these fields, or is it a domain of those have advanced degrees in math, comp sc. etc(as many would have you believe).\nWhat is the best place to get started. Want to set up my own algo trading desk someday.", "Quants is a highly specialized field and is heavily dependent on maths. I\u2019d suggest you check out CQF certification to get an idea of how intense this can get.", "Went to CQF course. The course is quite on expensive side.\nIs there any other cheaper course that teaches this from Indian markets perspective.\nDo we need to know advanced math if we just want to do algo trading from home?", "Math is good to know\u2026and if Qants is the direction you want to head, then there are no other good options.", "Sir I\u2019m reading all your modules thoroughly please make sure you post the trading strategies module as soon as possible I\u2019m very eager to start trading with your platform\u2026.", "Sure, will do as soon as the current module is through.", "why not you provide ADX indicator in ZERODHA Pi.", "Its there.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2017/05/M9-C7-cartoon.png", "http://zerodha.com/varsity/wp-content/uploads/2017/05/Image-1_port-var.png", "http://zerodha.com/varsity/wp-content/uploads/2017/05/Image-2_exp-return.png", "http://zerodha.com/varsity/wp-content/uploads/2017/05/Image-2_exp-return.png", "http://zerodha.com/varsity/wp-content/uploads/2017/05/Image-3_port-ret.png", "https://secure.gravatar.com/avatar/1ded886e80121d7f2e944b98b658c0ca?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6cc02912f567da2ef337d5e8e40590fd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e892a938e5a8a1b515a291a513bec526?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e892a938e5a8a1b515a291a513bec526?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3a4b5d5b851e1b0c7cea9a4345fc02dd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f589b6e180e1138097f7dec20442f03c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "8. Portfolio Optimization (Part 1)", "text": ["We have spent a great deal of time and efforts towards understanding risk associated with a portfolio. Our discussion has brought us to a very important stage \u2013 it\u2019s time we discuss portfolio optimization. Perhaps, a good start to this discussion would be to understand what portfolio optimization is all about and why it makes sense to optimize a given portfolio.", "Before we proceed, let me ask you a question \u2013 what do you think is the overall portfolio return, considering a portfolio consists investment in Infosys and Biocon (equally weighted). Assume the expected return of Infosys is 22% and Biocon is 15%.", "I know it sounds like a typical MBA class question, but this is an important question and you should know how to answer this question at this stage J", "Since the portfolio is equally weighted across two stocks, it implies we invest 50% in Infosys and 50% in Biocon. Given this, the expected portfolio return would be \u2013", "= Weight of investment in Infosys * Expected return of Infosys + Weight of investment in Biocon * Expected return of Biocon", "Do recall, in the previous chapter we did discuss \u201cExpected Return of a stock\u201d in detail. Anyway, let us work out the answer \u2013", "50% * 22% + 50% * 15%", "=11% + 7.5%", "= 18.5%", "So, the portfolio is expected to yield a return of 18.5% annually.", "Great, now what if we change the weights? What if invest 30% in Infosys and 70% in Biocon? Or let us say 70% in Infosys and 30% in Biocon?", "Let\u2019s figure this out, Case 1 \u2013", "30% * 22% + 70% * 15%", "= 6.6% + 10.5%", "17.1%", "Case 2 \u2013", "70% * 22% + 30% * 15%", "=15.4% + 4.5%", "=19.9%", "Needless to say, we can do this for multiple combinations of weights. In fact, here is the table with few of the other combinations possible \u2013", "", "As you can notice, as the investment weight varies, the returns also varies. For example if I had decided to invest just 40% in Infy and 60% in Biocon, I\u2019d have enjoyed a return of 17.8%. However, if I had reversed it by investing 60% in Infy and 40% in Biocon, I\u2019d have enjoyed a return of 19.2%, which is an additional 2% return.", "This leads us to a super important conclusion \u2013 as the investment weights vary, the returns vary. In fact, each return has an associated risk profile, so it is prudent to state \u2013 as the weights vary, both the risk and return characteristics vary.", "Now imagine this \u2013 for a given portfolio with \u2018n\u2019 number of stocks, wouldn\u2019t it be awesome if you were to look at the past data and intelligently identify how much to invest in each stock, so that the portfolio yields the best possible returns?", "This is exactly what happens when you optimize your portfolio. Generally speaking, you can adjust the weights (or optimize your portfolio) such that, for the given set of stocks \u2013", "Sounds confusing? Fear not, just read ahead!", "Hopefully by now, you fully appreciate the reason why one should optimize the portfolio. So, I won\u2019t spend more time convincing you \u263a", "Let us go ahead and optimize the portfolio we have been working with. However, there are few important terms I want you to be familiar with at this stage \u2013", "Minimum variance portfolio \u2013 Assume you have a portfolio of 10 stocks. It must be quite obvious by now that you can play around with the weights of each stock to achieve different results. When I say results, I\u2019m talking about the risk and return characteristics.\u00a0 Each unique set of weights represents a unique portfolio. For example an equally weighted portfolio (10 stocks, 10% weight in each) is a unique portfolio. A portfolio where you invest 30% in stock 1 and 7.8% each across the remaining 9 stocks is another unique portfolio. The number of combination possible are many and each combination of weights results in a unique risk and return characteristics.", "Given this, there should be that one set of combination of stock weights possible, such that the risk for the portfolio is the least possible. More technically, there should be combination of weights possible such that the variance of the portfolio is minimum. This particular portfolio is also referred to as the \u201cMinimum Variance Portfolio\u201d. The minimum variance portfolio represents the least amount of risk you can take. So if you are a highly risk averse investor, you should aim to create a minimum variance portfolio.", "Maximum Return portfolio \u2013 This is somewhat the opposite of a minimum variance portfolio. Just like a minimum variance portfolio, there should be a combination of weights such that we can achieve a portfolio with maximum return possible. This also means that for a maximum return portfolio, the risk too will be on the higher side.", "Fixed variance, multiple portfolios \u2013 This is not really a jargon, but a concept that you need to be aware of at this stage. It may come across as a little confusing at this point, but I\u2019m certain, later on in this chapter (or maybe next) you will understand this much better, especially when we perform portfolio optimization.", "For a given level of risk or variance of a portfolio, you can create at least two unique portfolios. One of such portfolio will yield the highest possible return and the other portfolio will yield the lowest return for the same given level of risk.", "Here is an example on a completely arbitrary basis \u2013 let us say the risk or variance of a portfolio is 15%, given this, there will be a portfolio which can yield 30% return (highest possible return) and another portfolio which can yield 12% return (lowest possible return). \u00a0Do note, for both these portfolios, the risk is fixed to 15% but the returns vary.", "Between these two portfolios there could be multiple other (unique) portfolios with varying return profile.\u00a0 \u00a0In super simple terms \u2013 for a fixed amount of risk, there could be multiple portfolio combinations, and within these possible combinations, there will be a portfolio with maximum return and another with minimum return.", "", "We will revisit this concept a little later in the chapter, but for now, just keep this thought at the back of your mind.", "Let us recall the portfolio that we have \u2013 the stock names and the associated weights are as follows. Do note, this is a continuation of the portfolio we have been working with over the previous few chapters.", "", "Do remember, the weights assigned are all random, there was no thought process to it. For this portfolio with these combination of weights, the annual portfolio variance was estimated at 17.64% and expected return as 55.14%.", "Our objective now is to optimize this portfolio to achieve a desired outcome. To optimize a portfolio in excel, we need the \u2018Solver Tool\u2019 in excel. You will find the solver tool under the \u2018Data ribbon\u2019.", "Many of you may not find the \u2018solver\u2019 tool under the data ribbon. This is because you\u2019ve not added it from the excel add ins. To add solver, follow these simple steps \u2013", "To begin with, let us optimize the portfolio to get the \u201cMinimum Variance portfolio\u201d. Here are few simple steps that you can follow to achieve this.", "Step 1 \u2013 Organize your data. This is the key to using solver. Your cells should be linked, data should be neatly organized. No hard coding of data. Here is how the data on excel sheet looks at this stage.", "", "I\u2019ve highlight two important parts, which we will use for optimizing. The top most part has the weights assigned to each stock. Needless to say, this will change once the portfolio is optimized. The 2nd part has the expected return and annual portfolio variance calculation, which will also change when we optimize the portfolio.", "Step 2 \u2013 Use the solver tool in excel to optimize the weights. I\u2019m assuming you may be new to solver, hence will give you a quick overview of this tool. You can use solver to work with something called as an \u2018objective\u2019. An objective, according to solver is essentially a data point, derived by set of formulas. You can minimize the objective\u2019s value or maximize the objective\u2019s value or set the value of an objective to a certain desired value. You can do this while changing certain variables. The variables, according to solver are the elements of the formulas used in deriving the objective.\u00a0 For example, I can choose to minimize the variance of the portfolio by changing the weights of each stock. Here, the variance is the objective and the weights are the variable.", "When we command the solver to minimize the objective (variance in this case), then in the background, excel\u2019s solver will quickly check the formulas used and works around it in such a way that the objective\u2019s value is least minimum.", "Look at the image below, I\u2019m invoking the solver tool and will soon ask it to minimize the variance.", "", "When you click on the data ribbon and click on solver, you will see the solver tool open up, as seen above. We need to set the objective here. Objective as I mentioned earlier, is the annual portfolio variance. Remember, we are working towards finding the minimum variance portfolio here.", "Check the image below \u2013", "", "Objective is set to \u2018Annual portfolio variance\u2019 \u2013 you can notice the cell address is highlighted in the \u2018set objective\u2019 field. The cell containing the annual portfolio variance itself is highlighted below, you will find another red arrow here. We are minimizing the objective here, the same is highlighted by the green arrow.", "Once this is set, the next step is to inform the solver tool that we need minimize the objective by changing the variables. In this case, the variable happens to be the weights assigned to each stock.", "", "As you can see, in the \u201cBy changing variable cells\u201d field, I\u2019ve highlighted the weights assigned to each stocks.", "You can also find \u201csubject to constraints\u201d, field. This essentially means, that solver will minimize the variance, by change the weights of each stock, and at this stage, it is also asking us if there are any constraints it needs to keep in mind while solving to minimize the variance.", "One constraint that I can think of at this stage is that the total weight of all stocks put together should be 100%. This essentially means that my capital is 100% deployed across all the 5 stocks. If I do not specific this, then there is a chance that solver may suggest to skip investments across few stock altogether. Remember, solver is an excel tool, and it does not appreciate stock picking", "To add a constraint, click on \u2018add\u2019. When you do so the following window opens up \u2013", "", "Under Cell reference, I will give the sum of weights of stocks \u2013 which needs to be equal to 100%. Next to this, you can see a drop down menu with multiple options, I\u2019d pick \u2018=\u2019 here. Finally, the constraint itself will be 100%. Note, I\u2019ve typed out 100% here.", "In simple words, I\u2019m asking solver to optimize for minimum variance, keeping the weight of all stock to 100%. The window now looks like this \u2013", "", "The solver is completely set up now. The final screen before pressing \u201cSolve\u201d looks like this \u2013", "", "I\u2019ve highlighted the weights of each stock for reference. Remember, these are pre optimized weights that we randomly assigned at the beginning of this discussion. Post optimizing, the weights will be changed such that the variance is least possible for these set of stocks. Let us go ahead and press \u2018solve\u2019 and check what solver has for us.", "And here you go \u2013", "", "Solver has solved for the \u2018minimum variance\u2019 portfolio and accordingly it has worked out the weights for each stock.", "For example, it wants us to increase the weight in Cipla from current 7% to 29.58%, while it wants us to reduce the weight in Idea to 5.22% from 16%. So on and so forth. Further, it is also telling us that the least possible variance with this portfolio is 15.57% (remember, the variance was earlier at 17.64%). \u00a0Along with this, the portfolio\u2019s expected return too seem to have dropped to 36.25% from the earlier 55.14%.", "So, no matter what you do, the variance cannot be lowered below 15.57%. In other words, if these are the 5 stocks that you want to invest in, then the least amount of risk you will be exposed to is 15.57% and absolutely nothing below that!", "I\u2019ll leave you at this. In the next chapter, we will optimize the same portfolio for few more scenarios and work towards building something called as an \u2018Efficient Frontier\u2019.", "You can download the excel sheet used in this chapter.\u00a0Do note, the excel contains the optimized weights for the minimum variance portfolio.", "Dear Karthik,\nWow, that\u2019s Awesome! Simply Awesome!", "Have a question, In our example, we used solver for Minimum Variance and the result was approx 2% reduction in exposure to risk, but at the same time Expected return has also reduced drastically from 55.14% to 36.25%.\nSo on excel sheet provided by you, I tried something i.e. I added one more constraint where I restricted Expected Returns equal to our original 55.14% and as a result annual Portfolio variance came to 16.9% which is greater than 15.57% but still lower than original 17.64%.", "Is this approach, in a right direction? Waiting for your valuable feedback.", "Thanks & Regards\nSantosh Shetti \ud83d\ude42", "Of course! Optimization is all about this. Remember, you can either work with the variance or returns, given this your approach is perfectly valid.", "Thanks a lot.", "I have one more question, which pertains to historical data. Like if I decided to take past one year closing price into consideration while calculating port portfolio variance, but what if couple of stocks in portfolio doesn\u2019t have adequate historical data (as those stocks have been recently listed), can we go with whatever little data is available or we do need to make some adjustments?", "Thanks & regards \u263a", "That would be a problem :).", "For example, if I have a recently listed stock in my portfolio, say 6 months, then I\u2019d take the historical data for 6 month for all the other stocks as well. Alternatively, I wont hesitate to keep this one stock aside and optimize the rest of the portfolio.", "Ok got it. Thanks a lot Karthik. \ud83d\ude42", "Cheers!", "Thanks for all the tutorials Karthik Sir.", "I wanted a overview on what topics/content are you going to cover in Trading strategies and systems.", "We are yet to finalize them, Varun. We are currently focused on delivering a good module on Risk Management and trading psychology.", "thanks for this great tutorials", "Cheers!", "Hi karthik,\n from where should I collect the data of stocks closing price for last 6 months to find out variance of my portfolio. Is it available on zerodha platform? Really you people are doing great job by educating people and responding promptly keep it up.", "You can download it from NSE directly. Check this \u2013 https://www.nseindia.com/products/content/equities/equities/eq_security.htm", "Hi Karthik,\n I am finding it quiet cumbersome to calculate my portfolio variance and risk profile using your sample excel sheet and downloading data from NSE website. Does zerodha provides the facility for the same to its customer for the portfolio holding?", "Not as of now. The trick is to make sure that the data is neatly organized on excel.", "hi Karthik,\nwe are not able to see module 7 and 8 in the dropdown.", "I\u2019m able to see, can you please do a hard refresh and check again? Thanks.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/M9-C8-Cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-1_wt.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Risk-Return-diagram.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-2_port.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-3_sol.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-4_organize.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-5_invok-solver.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-6_port-var.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-7_change-var.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-8_constraint.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-9_add-constr.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-10_solver.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-11_solved.png", "https://secure.gravatar.com/avatar/16bddbef4454391a5f45c6b4ceece55b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/16bddbef4454391a5f45c6b4ceece55b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/16bddbef4454391a5f45c6b4ceece55b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c5cdf54309f05345e3069dc352ea2a55?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/cd66003d230091adc1143eb8a912ae83?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ed34e0976f454adea3cfcf0fe3ce9e2e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ed34e0976f454adea3cfcf0fe3ce9e2e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d12eea66690dee0ef1c7e0844b3d5ef2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "9. Portfolio Optimization (Part 2)", "text": ["In the previous chapter we introduced the concept of portfolio optimization using excel\u2019s solver tool. We will build on the same concept in this chapter and proceed to understand an important portfolio concept, often referred to as the \u2018Efficient Frontier\u2019.", "Recall in the previous chapter, we discussed how a portfolio can produce multiple return series for a fixed portfolio variance.\u00a0 We will now go ahead and see how this works. This concept will eventually lead us to understanding portfolio optimization better.", "In the previous chapter, we optimized the portfolio to produce the minimum variance portfolio. The results, in terms of weights of individual stocks were as follows \u2013", "And the expected portfolio return and the portfolio variance is as follows \u2013", "Here is where things start to get a little interesting. So far what we have achieved in terms of portfolio optimization is merely a minimum variance portfolio. Like we discussed in the previous chapter, for every fixed risk level, there could be multiple unique portfolio with varying return characteristics. We will now go ahead and explore this in greater detail.", "We know at 15.57% portfolio variance, the return expected is 36.35%. We will now go ahead and increase the risk maybe to 17%, and calculate the highest and lowest possible returns for this. In other words, we are essentially trying to identify the highest and lowest possible return for a fixed portfolio variance of 17%. Also, do pay attention here \u2013 when I say increase the risk, we are essentially fixing the risk to certain desired level. 17% for now.", "The general direction we are headed is this \u2013 we know the minimum risk possible for this portfolio is 15.57%. We have also noted the return achievable at this level of risk i.e \u2013 36.35%. Like I mentioned earlier, we will now increase the risk a notch higher and note down the maximum and minimum return for this risk. Along with the return, we will also note the investment weights. We will then increase the risk another notch higher and again note the max and min return along with the weights. We will do few such iterations and note down all the observation.", "Eventually, I would like to plot a scatter plot of fixed risk along with its respective max return and min return data points and study this scatter plot in greater detail. This scatter plot will help us understand portfolio optimization.", "So let us get started by fixing the risk at 17%. Please note, I\u2019ve opted 17% just like that, it could very well have been 16% or 18%.", "Step 1 \u2013 Invoke the solver", "", "As I explained in the previous chapter, I\u2019ve invoked the solver calculator by clicking on the data ribbon. I\u2019ve highlighted the optimized weights for the minimum variance portfolio, this is just for your reference.", "Step 2 \u2013 Set the parameters", "To begin with let us find out the maximum return one can achieve for a fixed 17% risk. For this, we need to set the objective to maximize the \u2018expected portfolio return\u2019. The same is highlighted as shown below \u2013", "", "Step 3 \u2013 Select the weights", "The next step is to ensure that we tell the solver tool that we want to optimize the portfolio for maximum return by varying the weights. This is very similar to what we did in the previous chapter.", "", "Do note, the weights here are the variable cells.", "Step 4 \u2013 Set the constraints", "Now, here is the important part of the optimization where we set the constraints. We now tell solver that we need to maximize the returns @ 17% risk, by varying the investment weights. We do these while keeping the following two constraints \u2013", "The constraints section now looks like this \u2013", "", "With these constraints loaded and rest of the parameters specified, we can go ahead and click on \u2018solve\u2019 to figure out the maximum return possible @ 17%, along with the respective weights.", "The result upon optimization is as follows \u2013", "", "The maximum possible returns @17% portfolio variance happens to be 55.87%. However, to achieve this, the weights are as show above. Notice how the weights for this portfolio has changes when compared to the minimum variance portfolio.", "We will now proceed to figure out the minimum return possible for the same fixed amount of risk, which is 17% in our case. Before we proceed, here is a table that I\u2019m compiling of all the various portfolios that we are building, along with its respective weights and risk return characteristics.", "", "We are now working on portfolio 3 (P3), which is the minimum risk possible for a fixed risk of 17%. Here is the solver tool, fully loaded and ready to be optimized.", "", "Notice, while other variables remain the same, the objective is shifted to minimize from maximize. Upon optimization, the return is now minimized to 18.35%. Clearly, for the same given risk, we have now established two unique portfolios with different possible return characteristics, all these while just changing the investment weights in the stocks.", "Here are the three unique portfolios that we have generated so far \u2013", "", "Just to recall \u2013 P1 is the minimum variance portfolio, P2 max risk @17%, and P3 is min risk at 17%.", "As discussed earlier, we can now increase the risk a notch higher to maybe 18%, 19%, and 21% and identify the maximum and minimum risk at both these risk levels. Remember, our end objective is attain a scatter plot of the risk and return profile and study its characteristics. I\u2019ve gone ahead and optimized the portfolios for all the risk points, and at each point, I\u2019ve identified the maximum and minimum return possible. Please note, I\u2019ve rounded off the decimal values here, just so that the table looks pretty \u263a", "", "If you notice, I\u2019ve highlighted the risk and return values of each portfolios. I\u2019ll now go ahead and plot a scatter plot of these data points and see, what I can see.", "To plot a scatter plot, simply select the data points and opt for the scatter plot under the insert ribbon. This is how it looks \u2013", "", "Once you click on the scatter plot, you will be able to see the how the plot appears. Here is how it looks, of course, I\u2019ve tried to format the graph to make it look more presentable.", "This curve that you see above my friend, is called the \u2018efficient frontier\u2019 of this portfolio. So what do we understand from this curve and why is it so important? Well, quite a few things, lets deal with it one by one \u2013", "", "So, you as an investor, should always aim to create a portfolio, which lies on the efficient frontier, and as you may realize, creating this portfolio is merely a function of rearranging weights as per the results obtained in portfolio optimization.", "Think about it \u2013 when you risk your money, you obviously want the best possible return, right? This is exactly what the curve above is trying to convey to us. Its prompting us to create portfolios more efficiently.", "In the next chapter, we will take a quick look at a concept called \u201cValue at risk\u201d and then proceed to understanding risk from a trader\u2019s perspective.", "You can download the excel sheet used in this chapter.", "Hi Karthik,\nThanks for another insightful chapter.\nIn our example, if we look at Unique Portfolio table, Cipla & Wonderela seems to major contributors of risk and Idea & Alkem appears to major contributors of Reward. PVR looks neutral.\nIs there anything more we can do to it as next step, like replacing risk stocks with some other better stocks?", "Thanks & regards\nSantosh shetti\u263a", "Replacing stocks is more of a stock picking skill \ud83d\ude42", "Portfolio optimization is more of what can be done once you\u2019ve picked the stocks.", "Hi Kartik,\nAll the tutorials are awesome. They reflect the trouble you have gone through in preparing them and your hard work.\nEagerly waiting for complete PDFs of module 9 and 10.(and further modules if you have planned them)\nAll the best!!", "Thanks for the kind words, Yash \ud83d\ude42", "The PDF will be ready once the module is complete. My guess is that it will be ready by end of July \ud83d\ude42", "Dear Karthik,", "I would be happy if you can brief the calculation of Min Risk say @17% since i\u2019m not getting the correct answer. Moreover I\u2019m using Excel 2007 version and i didn\u2019t find the check box \u201cMake Unconstrained Variables Non-Negative\u201d and the selection box \u201cSelect a Solving Method GRG Nonlinear\u201d.", "Do help me out in getting the correct answer. I\u2019m not able to attach any files since its not allowed here.", "Regads,", "Sonjoe Joseph.", "I went through your excel sheet as well, but I was unable to figure out whats wrong. I\u2019d suggest you restart excel and check again. I\u2019ve had instances when solver has acted a little funny. Restarting usually works.", "Well still the problem is not solved.", "Hi karthik,\nAfter completing all the modules i have become a big admirer of u. Hats of to u & ur team. Presently i am working in a psu since 6 yrs but after getting shares knowledge from ur website i am intrested in pursuing a career in share market. Is there any course which i can do without leaving my present job and get a entry in NSE or BSE.\nThank u", "Arun, happy to note that you liked all the information here. I\u2019d suggest you take a look at the CFA certification offered by the CFA Institute, USA.", "1. If i pursue it from CFA,USA Will i b eligible for a job in usa after completion of level 3 exmination?\n2 What if i do it from NSFM WHICH IS BEING CONDUCTED BY NSE IN INDIA?\nThank u", "1) CFA is recognized in US. However, I\u2019m not too sure about the job market there.\n2) You cannot really compare NCFM and CFA.", "Would you encourage people to pursue courses like NISM and NIFM? Are these courses helpful in establishing a career in Financial Markets?\nSince CFA would cover the entire Financial Domain. What kind of courses should one pursue in order to restrict themselves for a career in Financial Markets?", "If you are serious about a career in investment management, then I\u2019d strongly suggest courses such as CFA or FRM.", "waiting for..\n\u201cUnderstanding risk from a trader\u2019s perspective\u201d Chapter\nwhen will it publish ?", "The next chapter is on Value at risk\u2026.will take it up after this chapter.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/M9-C9-Cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-1_invoke.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-2_set.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-3_vary.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-4_contr.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-5_opti.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-6_table.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-7_min-risk.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-9_port3.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-10_uniq.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-11_sp.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-12_ef.png", "https://zerodha.com/varsity/wp-content/uploads/2017/06/Image-13_ef1-1.png", "https://secure.gravatar.com/avatar/16bddbef4454391a5f45c6b4ceece55b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6fa41d8cb44cf82b7f5616c04c85326f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ab5554c4af6f5235484e03dee5ec2d3c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ab5554c4af6f5235484e03dee5ec2d3c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c5d3aa8bfa24172c6a02366802e5091e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c5d3aa8bfa24172c6a02366802e5091e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ac0edb84dabae01bec10c5408d3fb129?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d44340c9522d6694a8f78163059f701c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th width=\"37\"><strong>Sl No</strong></th>\n<th width=\"81\"><strong>Stock name </strong></th>\n<th width=\"126\"><strong>Pre optimized weight</strong></th>\n<th width=\"176\"><strong>Optimized for minimum variance</strong></th>\n</tr>\n<tr>\n<td width=\"37\">01</td>\n<td width=\"81\">Cipla</td>\n<td width=\"126\">7%</td>\n<td width=\"176\">29.58%</td>\n</tr>\n<tr>\n<td width=\"37\">02</td>\n<td width=\"81\">Idea</td>\n<td width=\"126\">16%</td>\n<td width=\"176\">5.22%</td>\n</tr>\n<tr>\n<td width=\"37\">03</td>\n<td width=\"81\">Wonderla</td>\n<td width=\"126\">25%</td>\n<td width=\"176\">30.22%</td>\n</tr>\n<tr>\n<td width=\"37\">04</td>\n<td width=\"81\">PVR</td>\n<td width=\"126\">30%</td>\n<td width=\"176\">16.47%</td>\n</tr>\n<tr>\n<td width=\"37\">05</td>\n<td width=\"81\">Alkem</td>\n<td width=\"126\">22%</td>\n<td width=\"176\">18.51%</td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<th width=\"149\"></th>\n<th width=\"95\"><strong>Pre optimized</strong></th>\n<th width=\"176\"><strong>Optimized for minimum variance</strong></th>\n</tr>\n<tr>\n<td width=\"149\">Expected Portfolio return</td>\n<td width=\"95\">55.14%</td>\n<td width=\"176\">36.35%</td>\n</tr>\n<tr>\n<td width=\"149\">Portfolio Variance</td>\n<td width=\"95\">17.64%</td>\n<td width=\"176\">15.57%</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "10. Value at Risk", "text": ["Let\u2019s start this chapter with a flashback. For many of us, when we think of the 70\u2019s, we can mostly relate to all the great rock and roll music being produced from across the globe. However, the economists and bankers saw the 70\u2019s very differently.", "The global energy crisis of 70\u2019s had drawn the United States of America into an economic depression of sorts. This lead to a high inflationary environment in the United States followed by elevated levels of unemployment (perhaps why many took to music and produced great music \ud83d\ude42 \u00a0). It was only towards the late 70\u2019s that things started to improve again and the economy started to look up. The Unites States did the right things and took the right steps to ease the economy, and as a result starting late seventies / early eighties the economy of United States was back on track. Naturally, as the economy flourished, so did the stock markets.", "Markets rallied continuously starting from the early 1980s all the way to mid-1987. Traders describe this as one of the dream bull runs in the United Sates. Dow made an all-time high of 2,722 during August 1987. This was roughly a 44% return over 1986.\u00a0 \u00a0However, around the same time, there were again signs of a stagnating economy. In economic parlance, this is referred to as \u2018soft landing\u2019 of the economy, where the economy kind of takes a breather. Post-August 1987\u2019s peak, the market started to take a breather. The months of Aug, Sept, Oct 1987, saw an unprecedented amount of mixed emotions. At every small correction, new leveraged long positions were taken. At the same time, there was a great deal of unwinding of positions as well. Naturally, the markets neither rallied nor corrected.", "While this was panning on the domestic front, trouble was brewing offshore with Iran bombing American super tankers stationed near Kuwait\u2019s oil port. The month of October 1987, was one of its kind in the history of financial markets. I find the sequence of events which occurred during the 2nd week of October 1987 extremely intriguing, there were way too much drama and horror panning out across the globe \u2013", "The financial world had not witnessed such dramatic turn of events. This was perhaps the very first few \u2018Black Swan\u2019 events to hit word hard. When the dust settled, a new breed of traders occupied Wall Street, they called themselves, \u201cThe Quants\u201d.", "", "The dramatic chain of events of October 1987 had multiple repercussion across the financial markets. Financial regulators were even more concerned about system wide shocks and firm\u2019s capability to assess risk. \u00a0Financial firms were evaluating the probability of a \u2018firm-wide survival\u2019 if things of such catastrophic magnitude were to shake up the financial system once again. After all, the theory suggested that \u2018October 1987\u2019 had a very slim chance to occur, but it did.", "It is very typical for financial firms to take up speculative trading positions across geographies, across varied counterparties, across varied assets and structured assets. Naturally, assessing risk at such level gets nothing short of a nightmarish task. However, this was exactly what the business required. They needed to know how much they would stand to lose, if October 1987 were to repeat. The new breed of traders and risk mangers calling themselves \u2018Quants\u2019, developed highly sophisticated mathematical models to monitor positions and evaluate risk level on a real-time basis. These folks came in with doctorates from different backgrounds \u2013 statisticians, physicist, mathematicians, and of course traditional finance. Firms officially recognized \u2018Risk management\u2019 as an important layer in the system, and risk management teams were inducted in the \u2018middle office\u2019 segment, across the banks and trading firms on Wall Street. They were all working towards the common cause of assessing risk.", "Then CEO of JP Morgan Mr.Dennis Weatherstone, commissioned the famous \u20184:15 PM\u2019 report. A one-page report which gave him a good sense of the combined risk at the firm-wide level. This report was expected at his desk every day 4:15 PM, just 15 minutes past market close. The report became so popular (and essential) that JP Morgan published the methodology and started providing the necessary underlying parameters to other banks. Eventually, JP Morgan, spun off this team and created an independent company, which goes by the name \u2018The Risk Metrics Group\u2019, which was later acquired by the MSCI group.", "The report essentially contained what is called as the \u2018Value at Risk\u2019 (VaR), a metric which gives you a sense of the worst case loss, if the most unimaginable were to occur tomorrow morning.", "The focus of this chapter is just that. We will discuss Value at Risk, for your portfolio.", "At the core of Value at Risk (VaR) approach, lies the concept of normal distribution. We have touched upon this topic several times across multiple modules in Varsity. For this reason, I will not get into explaining normal distribution at this stage. I\u2019ll just assume you know what we are talking about. The Value at Risk concept that we are about to discuss is a \u2018quick and dirty\u2019 approach to estimating the portfolio VaR. I\u2019ve been using this for a few years now, and trust me it just works fine for a simple \u201dbuy and hold\u2019 equity portfolio.", "In simple words, Portfolio VaR helps us answer the following questions \u2013", "Portfolio VaR helps us identify this. The steps involved in calculating portfolio VaR are very simple, and is as stated below \u2013", "Of course, for better understanding, let us apply this to the portfolio we have been dealing with so far and calculate its Value at Risk.", "In this section, we will concentrate on the first two steps (as listed above) involved in calculating the portfolio VaR. The first two steps involve us to identify the distribution of the portfolio returns. For this, we need to deal with either the normalized returns or the direct portfolio returns. Do recall, we have already calculated the normalized returns when we discussed the \u2018equity curve\u2019. I\u2019m just using the same here \u2013", "", "You can find these returns in the sheet titled \u2018EQ Curve\u2019. I\u2019ve copied these portfolio returns onto a separate sheet to calculate the Value at Risk for the portfolio. At this stage, the new sheet looks like this \u2013", "", "Remember, our agenda at this stage is to find out what kind of distribution the portfolio returns fall under. To do this, we do the following \u2013", "Step 1 \u2013 From the given time series (of portfolio returns) calculate the maximum and minimum return. To do this, we can use the \u2018=Max()\u2019 and \u2018=Min()\u2019 function on excel.", "", "Step 2 \u2013 Estimate the number of data points. The number of data points is quite straight forward. We can use the \u2018=count ()\u2019 function for this.", "", "There are 126 data points, please do remember we are dealing with just last six months data for now. Ideally speaking, you should be running this exercise on at least 1 year of data. But as of now, the idea is just to push the concept across.", "Step 3 \u2013 Bin width", "We now have to create \u2018bin array\u2019 under which we can place the frequency of returns. The frequency of returns helps up understand the number of occurrence of a particular return. In simple terms, it helps us answer \u2018how many times a return of say 0.5% has occurred over the last 126 day?\u2019. To do this, we first calculate the bin width as follows \u2013", "Bin width = (Difference between max and min return) / 25", "I\u2019ve selected 25 based on the number of observations we have.", "= (3.26% \u2013 (-2.82%))/25", "=0.002431", "Step 4 \u2013 Build the bin array", "This is quite simple \u2013 we start form the lowest return and increment this with the bin width. For example, lowest return is -2.82, so the next cell would contain", "= -2.82 + 0.002431", "= \u2013 2.58", "We keep incrementing this until we hit the maximum return of 3.26%. Here is how the table looks at this stage \u2013", "", "And here is the full list \u2013", "", "We now have to calculate the frequency of these return occurring within the bin array. Let me just present the data first and then explain what is going on \u2013", "", "I\u2019ve used the \u2018=frequency ()\u2019, function on excel to calculate the frequency. The first row, suggests that out of the 126 return observation, there was only 1 observation where the return was -2.82%. There were 0 observations between -2.82% and 2.58%. Similarly, there were 13 observations 0.34% and 0.58%. So on and so forth.", "To calculate the frequency, we simply have to select all the cells next to Bin array, without deselecting, type =frequency in the formula bar and give the necessary inputs. Here is the image of how this part appears \u2013", "", "Do remember to hit \u2018Ctrl + shift + enter\u2019 simultaneously and not just enter. Upon doing this, you will generate the frequency of the returns.", "Step 5 \u2013 Plot the distribution", "This is fairly simple. We have the bin array which is where all our returns lie and next to that we have the frequency, which is the number of times a certain return has occurred. We just need to plot the graph of the frequency, and we get the frequency distribution. Our job now is to visually estimate if the distribution looks like a bell curve (normal distribution) or not.", "To plot the distribution, I simply have to select the all the frequency data and opt for a bar chart. Here is how it looks \u2013", "", "Clearly what we see above is a bell-shaped curve, hence it is quite reasonable to assume that the portfolio returns are normally distributed.", "Now that we have established that the returns are normally distributed, we proceed to calculate the Value at Risk. From here on, the process is quite straightforward. To do this, we have to reorganize the portfolio returns from the ascending to descending order.", "", "I\u2019ve used excels sort function to do this. At this stage, I will go ahead and calculate Portfolio VaR and Portfolio CVaR. I will shortly explain, the logic behind this calculation.", "Portfolio VaR \u2013 is defined as the least value within 95% of the observation. We have 126 observation, so 95% of this is 120 observations. Portfolio VaR is essential, the least most value within the 120 observations. This works out to be -1.48%.", "I take the average of the remaining 5% of the observation, i.e the average of the last 6 observation, and that is the Cumulative VaR of CVaR.", "The CVaR works out to -2.39%.", "You may have many questions at this stage, let me list them down here along with the answers \u2013", "I hope the above discussion makes sense, do apply this on your equity portfolio and I\u2019m sure you will gain a greater insight into how your portfolio is positioned.", "We have discussed quite a few things with respect to the portfolio and the risk associated with it. We will now proceed to understand risk with respect to trading positions.", "Download the Excel workbook used in this chapter.", "This VaR is not so bad because last 6 months data is from bull market, right?\nif we take data points from bear market then this value would be large.\nso my question is still it does not reflect how my portfolio will behave in event of black Monday. (suppose Nifty drops suddenly by 10%)", "True, last 6 months have been great for markets. Ideally, you should take at least last 1-year data point.", "Hi Karthik,", "Thanks for the yet another great insightful chapter on topic of VaR, CVaR.", "Just few clarification needed: for calculating bin width you took 25 saying that it is based on observation which is 126. How did u arrive at 25, not quite clear to me. Is there any ratio/proportion for number of given data points. What if data points are more let\u2019s say 300, then what should be our number? 25, greater than 25 or less than 25? Kindly elobrate the same.", "what I understood is that it is just assumed number only to check for NormalDistribution pattern. But it shud not be too big or too small. Am i correct?", "Thanks & Regards ?", "Hmm, there is no benchmark as such, or at least I\u2019m not aware of this. If you have something like 300 data points, then I\u2019d still take 25 bins\u2026.500 and above maybe 50. 2000+ maybe 75\u2026.but not really more than 75 I guess.", "I learned something similar in statistics! That for a distribution to give valid probabilities or confidence limit , it should be based on at least a sample size of 30 \u2026.why this 30..and even my teacher didn\u2019t know really ! But what I guess is that this number is actually established by real experiments of testing of various distributions in real life!", "This must be based on some empirical observation. I\u2019m not sure about this, Madhhukar \ud83d\ude42", "Respected Sir,\nNice chapter to understand VaR concept along with its importance. In addition to the queries posted above, I want to know why you have considered 3.26% (highest return) as the starting point for 95% confidence span. As per the Normal Distribution pattern, the 95% confidence span is around the central (average) point, i.e. Avg-2SD and Avg+2SD. This means that about 2.5% (3-4 observations) from highest & 2.5% (3-4 observations) from lowest should not be considered.\nIn short, the 95% confidence span must start somewhere from 2.83% (not 3.26%), & hence, VaR must be -2.33% (not-1.48%). Please clarify.\nThanks & Regards\nJames", "Good observation, James. When dealing with VaR, we are not considering the symmetry of the data, we are interested in covering 95% of the data.", "when u gonna start nodule 10 of trading strategies ??? cant wait >.<", "Waiting for this module to get over!", "Desperately waiting for the trading strategies module . I will start trading only after that. By delaying it you are costing Zerodha millions of rupees of brokerage Karthik haha.", "Karan, sure, I\u2019ll try my best to finish this module and get started on Trading Strategies.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/M9-C10-cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-1_daily-rts.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-2_raw-data.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-3_maxmin.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-4_count.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-5_Bin-array.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-6_Bin-array-list.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-7_freq.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-8_freq-data.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-9_bell.png", "https://zerodha.com/varsity/wp-content/uploads/2017/07/Image-10_reordered.png", "https://secure.gravatar.com/avatar/ba81e981cd8fcf4fc5806aafece705c2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/16bddbef4454391a5f45c6b4ceece55b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2ae6c2646f33ad3f626df4b70c2ce4f9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9a2ce1fb42c41e2fd873f81fcc7a983f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6995304cb37a9c612aa636b1fff47db4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/12a996430f09175cff871699cf751ec3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "5. Bear Call Ladder", "text": ["The \u2018Bear\u2019 in the \u201cBear Call Ladder\u201d should not deceive you to believe that this is a bearish strategy. The Bear Call Ladder is an improvisation over the Call ratio back spread; this clearly means you implement this strategy when you are out rightly bullish on the stock/index.", "In a Bear Call Ladder, the cost of purchasing call options is financed by selling an \u2018in the money\u2019 call option. Further, the Bear Call Ladder is also usually setup for a \u2018net credit\u2019, where the cash flow is invariably better than the cash flow of the call ratio back spread. However, do note that both these strategies showcase similar payoff structures but differ slightly in terms of the risk structure.", "The Bear Call Ladder is a 3 leg option strategy, usually setup for a \u201cnet credit\u201d, and it involves \u2013", "This is the classic Bear Call Ladder setup, executed in a 1:1:1 combination. The bear Call Ladder has to be executed in the 1:1:1 ratio meaning for every 1 ITM Call option sold, 1 ATM and 1 OTM Call option has to be bought. Other combination like 2:2:2 or 3:3:3 (so on and so forth) is possible.", "Let\u2019s take an example \u2013 assume Nifty Spot is at 7790 and you expect Nifty to hit 8100 by the end of expiry. This is clearly a bullish outlook on the market. To implement the Bear Call Ladder \u2013", "Make sure \u2013", "The trade set up looks like this \u2013", "With these trades, the bear call ladder is executed. Let us check what would happen to the overall cash flow of the strategies at different levels of expiry.", "Do note we need to evaluate the strategy payoff at various levels of expiry as the strategy payoff is quite versatile.", "Scenario 1 \u2013 Market expires at 7600 (below the lower strike price)", "We know the intrinsic value of a call option (upon expiry) is \u2013", "Max [Spot \u2013 Strike, 0]", "The 7600 would have an intrinsic value of", "Max [7600 \u2013 7600, 0]", "= 0", "Since we have sold this option, we get to retain the premium received i.e Rs.247/-", "Likewise the intrinsic value of 7800 CE and 7900 CE would also be zero; hence we lose the premium paid i.e Rs.117 and Rs.70 respectively.", "Net cash flow would Premium Received \u2013 Premium paid", "= 247 \u2013 117 \u2013 70", "= 60", "Scenario 2 \u2013 Market expires at 7660 (lower strike + net premium received)", "The 7600 CE would have an intrinsic value of \u2013", "Max [Spot \u2013 Strike, 0]", "The 7600 would have an intrinsic value of", "Max [7660 \u2013 7600, 0]", "= 60", "Since the 7600 CE is short, we will lose 60 from 247 and retain the balance", "= 247 \u2013 60", "= 187", "The 7800 and 7900 CE would expire worthless, hence we lose the premium paid i.e 117 and 70 respectively.", "The total strategy payoff would be \u2013", "= 187 \u2013 117 \u2013 70", "= 0", "Hence at 7660, the strategy would neither make money nor lose money. Hence this is considered a (lower) breakeven point.", "Scenario 3 \u2013 Market expires at 7700 (between the breakeven point and middle strike i.e 7660 and 7800)", "The intrinsic value of 7600 CE would be \u2013", "Max [Spot \u2013 Strike, 0]", "= [7700 \u2013 7600, 0]", "= 100", "Since, we have sold this option for 247 the net pay off from the option would be", "247 \u2013 100", "= 147", "On the other hand we have bought 7800 CE and 7900 CE, both of which would expire worthless, hence we lose the premium paid for these options i.e 117 and 70 respectively \u2013", "Net payoff from the strategy would be \u2013", "147 \u2013 117 \u2013 70", "= \u2013 40", "Scenario 4 \u2013 Market expires at 7800 (at the middle strike price)", "Pay attention here, as this is where the tragedy strikes!", "The 7600 CE would have an intrinsic value of 200, considering we have written this option for a premium of Rs.247, we stand to lose the intrinsic value which is Rs.200.", "Hence on the 7600 CE, we lose 200 and retain \u2013", "247 \u2013 200", "= 47/-", "Both 7800 CE and 7900 CE would expire worthless, hence the premium that we paid goes waste, i.e 117 and 70 respectively. Hence our total payoff would be \u2013", "47 \u2013 117 \u2013 70", "= -140", "Scenario 5 \u2013 Market expires at 7900 (at the higher strike price)", "Pay attention again, tragedy strikes again \u263a", "The 7600 CE would have an intrinsic value of 300, considering we have written this option for a premium of Rs.247, we stand to lose all the premium value plus more.", "Hence on the 7600 CE, we lose \u2013", "247 \u2013 300", "= -53", "Both 7800 CE would have an intrinsic value of 100, considering we have paid a premium of Rs.117, the pay off for this option would be \u2013", "100 \u2013 117", "= \u2013 17", "Finally 7900 CE would expire worthless, hence the premium paid i.e 70 would go waste. The final strategy payoff would be \u2013", "-53 \u2013 17 \u2013 70", "= -140", "Do note, the loss at both 7800 and 7900 is the same.", "Scenario 6 \u2013 Market expires at 8040 (sum of long strike minus short strike minus net premium)", "Similar to the call ratio back spread, the bear call ladder has two breakeven points i.e the upper and lower breakeven. We evaluated the lower breakeven earlier (scenario 2), and this is the upper breakeven point. The upper breakeven is estimated as \u2013", "(7900 + 7800) \u2013 7600 \u2013 60", "= 15700 \u2013 7600 \u2013 60", "= 8100 \u2013 60", "= 8040", "Do note, both 7900 and 7800 are strikes we are long on, and 7600 is the strike we are short on. 60 is the net credit.", "So at 8040, all the call options would have an intrinsic value \u2013", "7600 CE would have an intrinsic value of 8040 \u2013 7600 = 440, since we are short on this at 247, we stand to lose 247 \u2013 440 = -193.", "7800 CE would have an intrinsic value of 8040 \u2013 7800 = 240, since we are long on this at 117, we make 240 \u2013 117 = +123", "7900 CE would have an intrinsic value of 8040 \u2013 7900 = 140, since we are long on this at 70, we make 140 \u2013 70 = +70", "Hence the total payoff from the Bear Call Ladder would be \u2013", "-193 + 123 + 70", "= 0", "Hence at 8040, the strategy would neither make money nor lose money. Hence this is considered a (upper) breakeven point.", "Do note, at 7800 and 7900 the strategy was making a loss and at 8040 the strategy broke even. This should give you a sense that beyond 8040, the strategy would make money. Lets just validate this with another scenario.", "Scenario 7 \u2013 Market expires at 8300", "At 8300 all the call options would have an intrinsic value.", "7600 CE would have an intrinsic value of 8300 \u2013 7600 = 700, since we are short on this at 247, we stand to lose 247 \u2013 700 = -453.", "7800 CE would have an intrinsic value of 8300 \u2013 7800 = 500, since we are long on this at 117, we make 500 \u2013 117 = +383", "7900 CE would have an intrinsic value of 8300 \u2013 7900 = 400, since we are long on this at 70, we make 400 \u2013 70 = +330", "Hence the total payoff from the Bear Call Ladder would be \u2013", "-453 + 383 + 330", "= 260", "As you can imagine, the higher the market move, the higher is the profit potential. Here is a table that gives you the payoffs at various levels.", "", "Do notice, when the market goes below you stand to make a modest gain of 60 points, but when the market moves up the profits are uncapped.", "Going by the above discussed scenarios we can make few generalizations \u2013", "Here is a graph that highlights all these important points \u2013", "", "Notice how the strategy makes a loss between 7660 and 8040, but ends up making a huge profit if the market moves past 8040. Even if the market goes down you still end up making a modest profit. But you are badly hit if the market does not move at all. Given this characteristics of the Bear Call Ladder, I would suggest you implement the strategy only when you are absolutely sure that the market will move, irrespective of the direction.", "From my experience, I believe this strategy is best executed on stocks (rather than index) when the quarterly results are due.", "The effect of Greeks on this strategy is very similar to the effect of Greeks on Call Ratio Back spread, especially the volatility bit. For your easy reference, I\u2019m reproducing the discussion on volatility we had in the previous chapter.", "", "There are three colored lines depicting the change of \u201cnet premium\u201d aka the strategy payoff versus change in volatility. These lines help us understand the effect of increase in volatility on the strategy keeping time to expiry in perspective.", "", "Download Bear Call Ladder Excel Sheet", "The best time to implement this strategy is during the first 15 days of the month, 4-5 days before the announcement of Quarterly results of a company, just before the volatility picks up so that the pay off increases due to the increase in volatility in the following days?", "Also, when would be the right time to exit from the strategy? Once the results are announced and the stock reacts or on expiry?", "Ajay \u2013 yes increase in volatility (especially in the first half of the series) is great for this strategy as this tends to lift the payoffs to the positive territory.", "If you are playing this for results, exit the positions after the result announcement \u2013 once the directional movement picks up.", "\u201cIn a Bear Call Ladder, the cost of purchasing call options is financed by selling an \u2018in the money\u2019 call option.\u201d what is the meaning for this line.", "It means, when you sell options you receive premium money, you can use this money to buy another option.", "Hi,", "When you refer to Volatility, do you refer to the Stocks Volatility or Indexs Volatility?", "Depends on the asset, if you are dealing a stock, then you need to look stock\u2019s volatility. Likewise with Index.", "How can we always in the profit zone while we option trading,?", "By being right all the time \ud83d\ude42", "If the market in the bearish trend it is better to sell one lot ITM CE. and Buying one lot ATM CE. I think that enough to make money. Why we should buy one OTM call option. Plz clarify that sir", "You could try that, in fact I would encourage you to plot the individual payoff and check how it works. This will be a practice for you!", "Sir will you explain that how can we gaze the market trends for next days. What are the technicals can support to find out the marker way. Sir", "Suggest you read the module on Technical Analysis \u2013 http://zerodha.com/varsity/module/technical-analysis/ . You will get many pointers here.", "Hi kartik\nCan you give me a recipe of technical indicators to good enough, because it is very difficult and confusing to apply many indicators???", "I would suggest you look at candlestick patterns rather than indicators.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/M6-C5-cartoon.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/Image-1_Payoff-1024x352.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/Image-2_graph.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/Image-3_volatility-1024x537.png", "https://secure.gravatar.com/avatar/9110f8969ba35d34d2cc448f0288d5c2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/18fe33331f0db4a5e2c457c0995118aa?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/488feddbe224ceb69476774a5cfb48c4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/00b573a734458aec513d0e42c1637efb?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/00b573a734458aec513d0e42c1637efb?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/00b573a734458aec513d0e42c1637efb?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5de5d5c703f8e5ca53a038d74ddd99fc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "6. Synthetic Long & Arbitrage", "text": ["Imagine a situation where you would be required to simultaneously establish a long and short position on Nifty Futures, expiring in the same series. How would you do this and more importantly why would you do this?", "We will address both these questions in this chapter. To begin with let us understand how this can be done and later move ahead to understand why one would want to do this (if you are curious, arbitrage is the obvious answer).", "Options as you may have realized by now, are highly versatile derivative instruments; you can use these instruments to create any kind of payoff structure including that of the futures (both long and short futures payoff).", "In this chapter we will understand how we can artificially replicate a long futures pay off using options. However before we proceed, you may want to just review the long Future\u2019s \u2018linear\u2019 payoff here", "Alternatively, here is a quick overview \u2013", "", "As you can see, the long futures position has been initiated at 2360, and at that point you neither make money nor lose money, hence the point at which you initiate the position becomes the breakeven point. You make a profit as the futures move higher than the breakeven point and you make a loss the lower the futures move below the breakeven point. The amount of profit you make for a 10 point up move is exactly the same as the amount of loss you\u2019d make for a 10 point down move. Because of this linearity in payoff, the future is also called a linear instrument.", "The idea with a Synthetic Long is to build a similar long Future\u2019s payoff using options.", "Executing a Synthetic Long is fairly simple; all that one has to do is \u2013", "When you do this, you need to make sure \u2013", "Let us take an example to understand this better. Assume Nifty is at 7389, which would make 7400 the ATM strike. Synthetic Long would require us to go long on 7400 CE, the premium for this is Rs.107 and we would short the 7400 PE at 80.", "The net cash outflow would be the difference between the two premiums i.e 107 \u2013 80 = 27.", "Let us consider a few market expiry scenarios \u2013", "Scenario 1 \u2013 Market expires at 7200 (below ATM)", "At 7200, the 7400 CE would expire worthless, hence we would lose the premium paid i.e Rs.107/-. However the 7400 PE would have an intrinsic value, which can be calculated as follows \u2013", "Intrinsic value of Put Option = Max [Strike-Spot, 0]", "= Max [7400 \u2013 7200, 0]", "=Max [200, 0]", "= 200.", "Clearly, since we are short on this option, we would lose money from the premium we have received. The loss would be \u2013", "80 \u2013 200 = -120", "Total payoff from the long Call and short Put position would be \u2013", "= -107 \u2013 120", "= -227", "Scenario 2 \u2013 Market expires at 7400 (At ATM)", "If the market expires exactly at 7400, both the options would expire worthless and hence \u2013", "Do note, 27 also happens to be the net cash outflow of the strategy, which is also the difference between the two premiums", "Scenario 3 \u2013 Market expires at 7427 (ATM + Difference between the two premiums)", "7427 is an interesting level, this is the breakeven point for the strategy, where we neither make money nor lose money.", "Scenario 4 \u2013 Market expires at 7600 (above ATM)", "At 7600, the 7400 CE would have an intrinsic value of 200, we would make \u2013", "Intrinsic value \u2013 Premium", "= 200 \u2013 107", "= 93", "The 7400 PE would expire worthless; hence we get to retain the entire premium of Rs.80.", "Total payoff from the strategy would be \u2013", "= 93 + 80", "= 173", "With the above 4 scenarios, we can conclude that the strategy makes money while the market moves higher and loses money while the market goes lower, similar to futures. However this still does not necessarily mean that the payoff is similar to that of futures. To establish that the synthetic long payoff behaves similar to futures, we need evaluate the payoff of the strategy with reference to the breakeven point; let\u2019s say 200 point above and below the breakeven point. If the payoff is identical, then clearly there is linearity in the payoff, similar to futures.", "So let\u2019s figure this out.", "We know the breakeven point for this is \u2013", "ATM + difference between the premiums", "= 7400 + 27", "= 7427", "The payoff around this point should be symmetric. We will consider 7427 + 200 = 7627 and 7427-200 = 7227 for this.", "At 7627 \u2013", "At 7227 \u2013", "Clearly, there is payoff symmetry around the breakeven, and for this reason, the Synthetic Long mimics the payoff of the long futures instrument.", "Further, here is the payoff at various expiry levels \u2013", "", "And when you plot the Net Payoff, we get the payoff structure which is similar to the long call futures.", "", "Having figured out how to set up a Synthetic long, we need to figure out the typical circumstances under which setting up a synthetic long is required.", "I\u2019ll assume that you have a basic understanding on Arbitrage. In easy words, arbitrage is an opportunity to buy goods/asset in a cheaper market and sell the same in expensive markets and pocket the difference in prices. If executed well, arbitrage trades are almost risk free. Let me attempt to give you a simple example of an arbitrage opportunity.", "Assume you live by a coastal city with abundant supply of fresh sea fish, hence the rate at which fish is sold in your city is very low, let\u2019s say Rs.100 per Kg. The neighboring city which is 125 kms away has a huge demand for the same fresh sea fish. However, in this neighboring city the same fish is sold at Rs.150 per Kg.", "Given this if you can manage to buy the fish from your city at Rs.100 and manage to sell the same in the neighboring city at Rs.150, then in process you clearly get to pocket the price differential i.e Rs.50. Maybe you will have to account for transportation and other logistics, and instead of Rs.50, you get to keep Rs.30/- per Kg. This is still a beautiful deal and this is a typical arbitrage in the fish market!", "", "It looks perfect, think about it \u2013 if you can do this everyday i.e buy fish from your city at Rs.100 and sell in the neighboring city at Rs.150, adjust Rs.20 towards expenses then Rs.30 per KG is guaranteed risk free profit.", "This is indeed risk free, provides nothing changes. But if things change, so will your profitability, let me list few things that could change \u2013", "I hope the above discussion gave you a quick overview on arbitrage. In fact we can define any arbitrage opportunity in terms of a simple mathematical expression, for example with respect to the fish example, here is the mathematical equation \u2013", "[Cost of selling fish in town B \u2013 Cost of buying fish in town A] = 20", "If there is an imbalance in the above equation, then we essentially have an arbitrage opportunity. In all types of markets \u2013 fish market, agri market, currency market, and stock market such arbitrage opportunities exist and they are all governed by simple arithmetic equations.", "Arbitrage opportunities exist in almost every market, one needs to be a keen observer of the market to spot it and profit from it. Typically stock market based arbitrage opportunities allow you to lock in a certain profit (small but guaranteed) and carry this profit irrespective of which direction the market moves. For this reason arbitrage trades are quite a favorite with risk intolerant traders.", "I would like to discuss a simple arbitrage case here, the roots of which lie in the concept of \u2018Put Call Parity\u2019. I will skip discussing the Put Call Parity theory but would instead jump to illustrate one of its applications.", "However I\u2019d suggest you watch this beautiful video from Khan Academy to understand the Put Call Parity \u2013", "", "So based on Put Call Parity, here is an arbitrage equation \u2013", "Long Synthetic long + Short Futures = 0", "You can elaborate this to \u2013", "Long ATM Call + Short ATM Put + Short Futures = 0", "The equation states that the P&L upon expiry by virtue of holding a long synthetic long and short future should be zero. Why should this position result in a zero P&L, well the answer to this is attributable to the Put Call Parity.", "However, if the P&L is a non zero value, then we have an arbitrage opportunity.", "Here is an example that will help you understand this well.", "", "On 21st Jan, Nifty spot was at 7304, and the Nifty Futures was trading at 7316.", "", "The 7300 CE and PE (ATM options) were trading at 79.5 and 73.85 respectively. Do note, all the contracts belong to the January 2016 series.", "Going by the arbitrage equation stated above, if one were to execute the trade, the positions would be \u2013", "Do note, the first two positions together form a long synthetic long. Now as per the arbitrage equation, upon expiry the positions should result in a zero P&L.\u00a0 Let\u2019s evaluate if this holds true.", "Scenario 1 \u2013 Expiry at 7200", "Clearly, instead of a 0 payoff, we are experiencing a positive non zero P&L.", "Scenario 2 \u2013 Expiry at 7300", "Scenario 3 \u2013 Expiry at 7400", "You could test this across any expiry value (in other words the markets can move in any direction) but you are likely to pocket 10.35 points, upon expiry. I\u2019d like to stress this again; this arbitrage lets you make 10.35, upon expiry.", "Here is the payoff structure at different expiry values \u2013", "", "Interesting isn\u2019t it? But what\u2019s the catch you may ask?", "Transaction charges!", "One has to account for the cost of execution of this trade and figure out if it still makes sense to take up the trade. Consider this \u2013", "So considering these costs, the efforts to carry an arbitrage trade for 10 points may not make sense. But it certainly would, if the payoff was something better, maybe like 15 or 20 points. With 15 or 20 points you can even maneuver the STT trap by squaring off the positions just before expiry \u2013 although it will shave off a few points.", "", "Download Synthetic Long & Arbitrage Excel Sheet", "Sir\n it look very nice stratergy . but can you explain when is the right condition to enter the trade\u2026 what are the parameter i need to consider before entering this trade???", "Mahesh, you spot it ..you execute it!. There is nothing like an ideal condition for this strategy.", "thank you sir \ud83d\ude42", "Welcome!", "your assumption that at 7389 nifty future and at the value of 7400PE @ Rs.80, the 7400CE can not be 127 Rs. It will be practically 69 Rs. You are calculating profit/loss at various levels of nifty expiry. In scenario one you are calculating 227 as loss. whereas in case of future the loss would be 189. In scenario 2 you are calculating 27 as loss. whereas in case of future the profit should be of Rs. 11. In scenario 3 you are calculating 0 as profit/loss. whereas in case of future the profit would be 38 . In scenario 4 you are calculating 173 as profit whereas in case of future the profit would be 211.\nSo in case of synthetic future strategy the P/L is always the same wherever the nifty expires. I would like to take note of the same and revert back if I am mistaken. Thanks.", "Why do you think the CE would not be 127 and why 69 specifically? Do remember that the payoff structure of synthetic long is similar to futurs @ it\u2019s breakeven point. I would suggest you download the excel and work around with the numbers to get more clarity.", "Very poor Mr. KARTHIK RANGAPPA, Shame on the Zerodha Varsity. Can you show me any trading screen any time in the history of stock market or in future, when NIFTY FUTURES trading AT 7389, the rate of the 7400CE to be 127 and 7400PE to be 69. YOU FORGOT THE FORMULA THAT PUT PREMIUM OF ANY STRIKE + NIFTY FUTURES MUST BE EQUAL TO THE STRIKE PRICE +CALL PREMIUM. Wherever any mismatch is there the arbitration opportunity arises and immediately encashed by some trader.", "I\u2019d suggest you download the excel once and look into the values once before concluding things. Thanks.", "with 0% risk can we earn profit in option?", "No risk, no return ! However you can minimize risk by using strategies such as Synthetic Long", "Hi kartik\nIf nifty call option has premium rs.1 then how much money required to short one lot", "Margins for writing options is usually same as that of the margins required for futures. The premium value is not really considered.", "what is fun for a gain of 10 to 20 rupees by investing margin of 2 lot ie 1 for future sale and 1 for put sell.appx about 90000 to 1 lacs.", "Well, a lot of professional traders like to take up trades where there is complete visibility on the downside risk even though the reward is limited.", "when option strategy module will be available in pdf format like other modules are available?\nhow many more chapters are left?", "Rohan, the module is work in progress. I suppose another 8 chapters to go. Once this is done we will have the PDFs ready.", "Sir, can you please send the link to download the PDF format for options?", "Scroll to the bottom of this page to find the PDF download link \u2013 https://zerodha.com/varsity/module/option-strategies/", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/Image-1_fut-payoff.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/Image-2_different-payoff.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/Image-3_payoff.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/M6-C7-cartoon.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/Image-4_Nifty-Fut.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/Image-5_Syn-Call.png", "http://zerodha.com/varsity/wp-content/uploads/2016/01/Image-6_Arb-payoff.png", "https://secure.gravatar.com/avatar/137596474597b5ec507a2f05b61249d1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/137596474597b5ec507a2f05b61249d1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2bb3223b46a2d70fddf69d44501ad4bd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2bb3223b46a2d70fddf69d44501ad4bd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/7e21662b73e1e4cfd7b7e1b07388a7aa?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5de5d5c703f8e5ca53a038d74ddd99fc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a8a8c754f75ef62f5c1a7c1c71d884be?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/27fa824683c1d9122bc1173aa561abad?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/7b2192372a9da0107bd2c99ec2b2edfe?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "7. Bear Put Spread", "text": ["Over the last five chapters we\u2019ve discussed various multi leg bullish strategies. These strategies ranged to suit an assortment of market outlook \u2013 from an outrightly bullish market outlook to moderately bullish market outlook. Reading through the last 5 chapters you must have realised that most professional options traders prefer initiating a spread strategy versus taking on naked option positions. No doubt, spreads tend to shrink the overall profitability, but at the same time spreads give you a greater visibility on risk. Professional traders value \u2018risk visibility\u2019 more than the profits. In simple words, it\u2019s a much better deal to take on smaller profits as long as you know what would be your maximum loss under worst case scenarios.", "Another interesting aspect of spreads is that invariably there is some sort of financing involved, wherein the purchase of an option is funded by the sale of another option. In fact, financing is one of the key aspects that differentiate a spread versus a normal naked directional position. Over the next few chapters we will discuss strategies which you can deploy when your outlook ranges from moderately bearish to out rightly bearish. The composition of these strategies is similar to the bullish strategies that we discussed earlier in the module.", "The first bearish strategy we will look into is the Bear Put Spread, which as you may have guessed is the equivalent of the Bull Call Spread.", "", "Similar to the Bull Call Spread, the Bear Put Spread is quite easy to implement. One would implement a bear put spread when the market outlook is moderately bearish, i.e you expect the market to go down in the near term while at the same time you don\u2019t expect it to go down much. If I were to quantify \u2018moderately bearish\u2019, a 4-5% correction would be apt. By invoking a bear put spread one would make a modest gain if the markets correct (go down) as expected but on the other hand if the markets were to go up, the trader will end up with a limited loss.", "A conservative trader (read as risk averse trader) would implement Bear Put Spread strategy by simultaneously \u2013", "There is no compulsion that the Bear Put Spread has to be created with an ITM and OTM option. The Bear Put spread can be created employing any two put options. The choice of strike depends on the aggressiveness of the trade. However do note that both the options should belong to the same expiry and same underlying. To understand the implementation better, let\u2019s take up an example and see how the strategy behaves under different scenarios.", "As of today Nifty is at 7485, this would make 7600 PE In the money and 7400 PE Out of the money. The \u2018Bear Put Spread\u2019 would require one to sell 7400 PE, the premium received from the sale would partially finance the purchase of the 7600 PE. The premium paid (PP) for the 7600 PE is Rs.165, and the premium received (PR) for the 7400 PE is Rs.73/-. The net debit for this transaction would be \u2013", "73 \u2013 165", "= -92", "To understand how the payoff of the strategy works under different expiry circumstances, we need to consider different scenarios. Please do bear in mind the payoff is upon expiry, which means to say that the trader is expected to hold these positions till expiry.", "Scenario 1 \u2013 Market expires at 7800 (above long put option i.e 7600)", "This is a case where the market has gone up as opposed to the expectation that it would go down. At 7800 both the put option i.e 7600 and 7400 would not have any intrinsic value, hence they would expire worthless.", "Do note the \u2018-ve\u2019 sign associated with 165 indicates that this is a money outflow from the account, and the \u2018+ve\u2019 sign associated with 73 indicates that the money is received into the account.", "Also, the net loss of 92 is equivalent to the net debit of the strategy.", "Scenario 2 \u2013 Market expired at 7600 (at long put option)", "In this scenario we assume the market expires at 7600, where we have purchased a Put option. But then, at 7600 both 7600 and 7400 PE would expire worthless (similar to scenario 1) resulting in a loss of -92.", "Scenario 3 \u2013 Market expires at 7508 (breakeven)", "7508 is half way through 7600 and 7400, and as you may have guessed I\u2019ve picked 7508 specifically to showcase that the strategy neither makes money nor loses any money at this specific point.", "Hence, 7508 would be the breakeven point for this strategy.", "Scenario 4 \u2013 Market expires at 7400 (at short put option)", "This is an interesting level, do recall when we initiated the position the spot was at 7485, and now the market has gone down as expected. At this point both the options would have interesting outcomes.", "The net payoff from the strategy is in line with the overall expectation from the strategy i.e the trader gets to make a modest profit when the market goes down.", "Scenario 5 \u2013 Market expires at 7200 (below the short put option)", "This is again an interesting level as both the options would have an intrinsic value. Lets figure out how the numbers add up \u2013", "Summarizing all the scenarios (I\u2019ve put up the payoff values directly after considering the premiums)", "Do note, the net payoff from the strategy is in line with the overall expectation from the strategy i.e the trader gets to make a modest profit when the market goes down while at the same time the losses are capped in case the market goes up.", "Have a look at the table below \u2013", "The table below shows the strategy payoff at different expiry levels. The losses are capped to 92 (when markets go up) and the profits are capped to 108 (when markets go down).", "From the above discussed scenarios we can generalize a few things \u2013", "You can note all these critical points in the strategy payoff diagram \u2013", "", "This is something I missed talking about in the earlier chapters, but its better late than never :-). Whenever you implement an options strategy always add up the deltas. I used the B&S calculator\u00a0to calculate the deltas.", "The delta of 7600 PE is -0.618", "", "The delta of 7400 PE is \u2013 0.342", "", "The negative sign indicates that the put option premium will go down if the markets go up, and premium gains value if the markets go down. But do note, we have written the 7400 PE, hence the Delta would be", "-(-0.342)", "+ 0.342", "Now, since deltas are additive in nature we can add up the deltas to give the combined delta of the position. In this case it would be \u2013", "-0.618 + (+0.342)", "= \u2013 0.276", "This means the strategy has an overall delta of 0.276 and the \u2018\u2013ve\u2019 indicates that the premiums will go up if the markets go down. Similarly you can add up the deltas of other strategies we\u2019ve discussed earlier \u2013 Bull Call Spread, Call Ratio Back spread etc and you will realize they all have a positive delta indicating that the strategy is bullish.", "When you have more than 2 option legs it gets really difficult to estimate the overall bias of the strategy (whether the strategy is bullish or bearish), in such cases you can quickly add up the deltas to know the bias. Further, if in case the deltas add to zero, then it means that the strategy is not really biased to any direction. Such strategies are called \u2018Delta Neutral\u2019. We will eventually discuss these strategies at a later point in this module.", "Also, you may be interested to know that while the delta neutral strategies are immune to market\u2019s directional move, they react to changes in volatility and time, hence these are also sometime called \u201cVolatility based strategies\u201d.", "The strike selection for a bear put spread is very similar to the strike selection methodology of a bull call spread. I hope you are familiar with the \u20181st half of the series\u2019 and \u20182nd half of the series\u2019 methodology. If not I\u2019d suggest you to kindly read through section 2.3.", "Have a look at the graph below \u2013", "", "If we are in the first half of the series (ample time to expiry) and we expect the market to go down by about 4% from present levels, choose the following strikes to create the spread", "Now assuming we are in the 2nd half of the series, selecting the following strikes to create the spread would make sense \u2013", "", "I hope you will find the above two tables useful while selecting the strikes for the bear put spread.", "We will now shift our focus on the effect of volatility on the bear put spread. Have a look at the following image \u2013", "", "The graph above explains how the premium varies with respect to variation in volatility and time.", "From these graphs it is clear that one should not really be worried about the changes in the volatility when there is ample time to expiry. However one should have a view on volatility between midway and expiry of the series. It is advisable to take the bear put spread only when the volatility is expected to increase, alternatively if you expect the volatility to decrease, its best to avoid the strategy.", "", "Download Bear Put Spread Excel Sheet", "Hi Karthik,\nGood to read about the Bear Put spread.\nSub: Your example of adding up Deltas in the Bear Put Spread ie Delta of 7600PE (-0.618) + (-o.342) = (-0.92).\nI feel we should add Deltas when we are long both the put strikes because when market moves down, our change in position will be in sync with the total DELTA value ie(-0.92)\nBut when we are setting up a spread we are actually long 7600PE(-0.618) Delta and short 7400PE(-0.342) Delta. So strictly with reference to DELTA, Our total change in position will be the difference of the two DELTAS ie (-0.276), because one position gains and the other one loses.\nOur profit/change in premium with reference to DELTA will actually be ,Change in premium= ( points change in underlying x DELTA -0.276).\nYour clarification will be very helpful.", "Hey, I think I\u2019ve made silly mistake. You could be right\u2026let me recheck and updates the content. Thanks for pointing this.", "sir i have one doubt is there any possible to go short sell in both call side and put side ,for example 27600 (ce) option sell side and 27700 (pe)option sell side i want to go sell side at a same time , if the market is in the 27650 range, if possible what is amount required for this purpose, pls tell me the detials pls ,sir reply this one pls.", "Yes, this is called a short straddle. You will have to park margins on both the contracts. Check this \u2013 https://zerodha.com/varsity/chapter/the-short-straddle/", "Hi,\nHow many days will take to complete this Option Strategy Module?\nReally you are doing very great job, we are very great full to you for giving such a precious information.\nwe got a lot of knowledge from this Modules, now we are getting confident in Trading and Investing in Stock market\nThank you so much", "Suresh, there are at least another 7 \u2013 8 chapters in this module. Will try my best to wind up as soon as possible.", "Good luck to you, stay profitable.", "Sir, u r not yet discussed about putcall ratio..", "Eventually sir, request you to kindly wait.", "Hi Karthik,\nGood to know that my understanding of relative DELTA value was right and you were kind enough to accept it and make the correction in the tutorial.\nAll this knowledge and understanding of options I have gained only from YOU , but still I am not able to garner the courage to trade options/spreads , maybe fear of losing money as in the past when I had no understanding of options and lost money trading them.", "Avinash \u2013 all it takes is a little bit of confidence about what you know. You clearly seem to have the flair to grasp things, I\u2019m sure you will be successful if you take the plunge!", "Thank You, Karthik", "Welcome.", "I am little confuse that when to form option strategies specially when starting of the month. and also guide we don\u2019t have to form strategies in 3rd or 4th week of the month.", "The theta graphs should help you with this. If you have any specific doubt, I can try to answer it for you.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/M6-C7-Cartoon1.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-1_payoff1.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-2_graph.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-3_delta-1-1024x342.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-4_delta-21-1024x353.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-5_start-of-the-series.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-6_2nd-half-of-series.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-7_volatility-effect.png", "https://secure.gravatar.com/avatar/08e00b974ef058fe753425677f6b38dc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/571df5d2d5ca9d490a718e34e822765c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9ba79d399bbef6a6000930447ac26654?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/bed2d68e83bc599a6007214e7c261052?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/08e00b974ef058fe753425677f6b38dc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/08e00b974ef058fe753425677f6b38dc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1621eb698201c5be788be52224e4a5be?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<tbody>\n<tr class=\"tableizer-firstrow\">\n<th>Market Expiry</th>\n<th>Long Put (7600)_IV</th>\n<th>Short Put (7400)_IV</th>\n<th>Net payoff</th>\n</tr>\n<tr>\n<td>7800</td>\n<td>0</td>\n<td>0</td>\n<td>-92</td>\n</tr>\n<tr>\n<td>7600</td>\n<td>0</td>\n<td>0</td>\n<td>-92</td>\n</tr>\n<tr>\n<td>7508</td>\n<td>92</td>\n<td>0</td>\n<td>0</td>\n</tr>\n<tr>\n<td>7200</td>\n<td>400</td>\n<td>200</td>\n<td>+108</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<tbody>\n<tr class=\"tableizer-firstrow\">\n<th>Expect 4% move to happen within</th>\n<th>Higher strike</th>\n<th>Lower strike</th>\n<th>Refer graph on</th>\n</tr>\n<tr>\n<td>5 days</td>\n<td>Far OTM</td>\n<td>Far OTM</td>\n<td>Top left</td>\n</tr>\n<tr>\n<td>15 days</td>\n<td>ATM</td>\n<td>Slightly OTM</td>\n<td>Top right</td>\n</tr>\n<tr>\n<td>25 days</td>\n<td>ATM</td>\n<td>OTM</td>\n<td>Bottom left</td>\n</tr>\n<tr>\n<td>At expiry</td>\n<td>ATM</td>\n<td>OTM</td>\n<td>Bottom right</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<tbody>\n<tr class=\"tableizer-firstrow\">\n<th>Expect 4% move to happen within</th>\n<th>Higher strike</th>\n<th>Lower strike</th>\n<th>Refer graph on</th>\n</tr>\n<tr>\n<td>Same day (even specific)</td>\n<td>OTM</td>\n<td>OTM</td>\n<td>Top left</td>\n</tr>\n<tr>\n<td>5 days</td>\n<td>ITM/OTM</td>\n<td>OTM</td>\n<td>Top right</td>\n</tr>\n<tr>\n<td>10 days</td>\n<td>ITM/OTM</td>\n<td>OTM</td>\n<td>Bottom left</td>\n</tr>\n<tr>\n<td>At expiry</td>\n<td>ITM/OTM</td>\n<td>OTM</td>\n<td>Bottom right</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "8. Bear Call Spread", "text": ["Similar to the Bear Put Spread, the Bear Call Spread is a two leg option strategy invoked when the view on the market is \u2018moderately bearish\u2019. The Bear Call Spread is similar to the Bear Put Spread in terms of the payoff structure; however there are a few differences in terms of strategy execution and strike selection. The Bear Call spread involves creating a spread by employing \u2018Call options\u2019 rather than \u2018Put options\u2019 (as is the case in bear put spread).", "You may have a fundamental question at this stage \u2013 when the payoffs from both Bear Put spread and Bear Call spread are similar, why should one choose a Bear Call spread over a Bear Put spread?", "", "Well, this really depends on how attractive the premiums are. While the Bear Put spread is executed for a debit, the Bear Call spread is executed for a credit. So if you are at a point in the market where \u2013", "And you have a moderately bearish outlook going forward, then it makes sense to invoke a Bear Call Spread for a net credit as opposed to invoking a Bear Put Spread for a net debit. Personally I do prefer strategies which offer net credit rather than strategies which offer net debit.", "The Bear Call Spread is a two leg spread strategy traditionally involving ITM and OTM Call options. However you can create the spread using other strikes as well. Do remember, the higher the difference between the two selected strikes (spread), larger is the profit potential.", "To implement the bear call spread \u2013", "Ensure \u2013", "Let us take up example to understand this better \u2013", "Date \u2013 February 2016", "Outlook \u2013 Moderately bearish", "Nifty Spot \u2013 7222", "Bear Call Spread, trade set up \u2013", "Generally speaking in a bear call spread there is always a \u2018net credit\u2019, hence the bear call spread is also called referred to as a \u2018credit spread\u2019. After we initiate the trade, the market can move in any direction and expiry at any level. Therefore let us take up a few scenarios to get a sense of what would happen to the bear put spread for different levels of expiry.", "Scenario 1 \u2013 Market expires at 7500 (above the long Call)", "At 7500, both the Call options would have an intrinsic value and hence they both would expire in the money.", "Scenario 2 \u2013 Market expires at 7400 (at the long call)", "At 7400, the 7100 CE would have an intrinsic value and hence would expire in the money. The 7400 CE would expire worthless.", "Do note, the loss at 7400 is similar to the loss at 7500 pointing to the fact that above a certain point loss is capped to 202.", "Scenario 3 \u2013 Market expires at 7198 (breakeven)", "At 7198, the trade neither makes money or losses money, hence this is considered a breakeven point. Let us see how the numbers play out here \u2013", "This clearly indicates that the strategy neither makes money or losses money at 7198.", "Scenario 4 \u2013 Market expires at 7100 (at the short call)", "At 7100, both the Call options would expire worthless, hence it would be out of the money.", "Clearly, as and when the market falls, the strategy makes a profit.", "Scenario 5 \u2013 Market expires at 7000 (below the short call)", "This scenario tests the profitability of the strategy when the market falls further. At 7000, both the call options would expire worthless. While we treat the premium paid for 7400 CE i.e Rs.38 as a loss , we will retain the entire premium received for 7100 CE i.e Rs.136 as a profit. Hence the net profit from the strategy would be 136-38 = 98. Clearly, as and when the market falls, the strategy tends to make money, but it is capped to Rs.98.", "Here is the payoff for the strategy at different expiries \u2013", "", "These payoffs can be plotted to get the graph of the strategy payoff \u2013", "", "As you can observe, the payoff is similar to a bear put spread where both the profits under best case scenario and losses under worst case scenario is pre defined.", "Going by the above payoff we can generalize the key trigger points for the strategy \u2013", "At this stage, we can add up the Deltas to get the overall position delta to know the strategy\u2019s sensitivity to the directional movement.", "From the BS calculator I got the Delta values as follows \u2013", "The delta of the strategy is negative, and it indicates that the strategy makes money when the underlying goes down, and makes a loss when the underlying goes up.", "The following images help us identify the best call option strikes to choose, given the time to expiry. We have discussed the split up of time frame (1st and 2nd half of the series) several times before, hence for this reason I will just post the graphs and the summary table.", "Strikes to select when we are in the 1st half of the series \u2013", "", "Strikes to select when we are in the 2nd half of the series \u2013", "", "The following graph talks about the variation in strategy cost with respect to changes in the volatility \u2013", "", "The graph above explains how the premium varies with respect to variation in volatility and time.", "From these graphs it is clear that one should not really be worried about the changes in the volatility when there is ample time to expiry. However one should have a view on volatility between midway and expiry of the series. It is advisable to take the bear call spread only when the volatility is expected to increase, alternatively if you expect the volatility to decrease, its best to avoid the strategy.", "Download Bear Call Spread Excel Sheet", "In the example above you have told to sell 7100pe\ninstead of 7100ce!! Can you please correct the same", "Thanks for pointing, will make the necessary corrections. Please do let me know if you spot it else where. Thanks.", "Whil starting the example , you have mentioned \u201cBull Put Spread, trade set up\u201d. I think it should be \u201cBear Call spread, trade Setup\u201d", "Will correct this, thanks for pointing this!", "Sir,\nIn the bar chart where strike price selection is indicated, it will be interesting if Delta of the trade is also mentioned. Total profit and probability of the making profit. Here delta will also indicate the possibility of the trade making profit.\nThe explanation is as usual perfect. I am waiting for hedged trading strategies to come, where maximizing the profit may be tricky and will need more expert advised.\nHedging is good to limit your loss but I always think how to come out from the trade at the time when profit is optimize?\nThanks", "Delta is just a measure of the \u2018direction ness\u2019 of the trade. It does not indicate the possibility of being successful. As we go forward, we will introduce few more hedged position strategies.", "Hi kartik,\nCan you make a chapter on commodities so we know everything about commodity trading", "Very soon!", "hello sir, when can we have the pdf version (downloadable files) of the strategies.", "Will put this up soon!", "Hello Karthik,", "I would like to clarify or suggest a couple of corrections in this module: 1. In the last para you mentioned \u201cIt is advisable to take the bear call spread only when the volatility is expected to increase, alternatively if you expect the volatility to decrease, its best to avoid the strategy.\u201d. Generally it is always gives an edge to you when you enter a credit spread when volatility is high and when you expect it to fall in coming days (i mean this in addition to our view on direction of the market, which is obvious any way) as the premiums will come down volatility drops. So, keeping in view of this i believe its correct to say \u201cIt is advisable to take the bear call spread when the volatility is expected to decrease, alternatively if you expect the volatility to increase substantially, its best to avoid the strategy\u201d. Please let me know if you think otherwise. (I understand most of the volatility will increase when markets are falling due to fear in the market, but it is also possible market can trade sideways in which case volatility may fall and trader can get profit from that. Any way this strategy need to be applied when one has a mild bearish view or at least stays around current price). 2. This one is about a typo \u201cBull Put Spread, trade set up \u2013\u201d in section 8.2. This should be changed \u201cBear Call Spread, trade set up \u2013\u201d. Bringing this point to your notice as those new to Options strategies should not get confused with this typo.", "Thanks so much for pointing these out, the 2nd one is a typo, will fix that. About the volatility part, I will get back to you shortly.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/M6-Ch8-Cartoon1.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-1_Payoff-edit.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-2_graph1.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-3_start-of-the-series_BCS.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-4_2nd-half-BCS.png", "http://zerodha.com/varsity/wp-content/uploads/2016/02/Image-5_Bearish-Call-Spread-price-vs-Volatility.png", "https://secure.gravatar.com/avatar/7642b3945bc369be4f16075d7cd0ef77?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/96e2b93b05bdeca194a29b03fb4262d4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/225a008f9e662f2405e68f707fb3a988?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5de5d5c703f8e5ca53a038d74ddd99fc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f9981ef7b12a5fe93f11511c471a52b5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/8a01c04613ccd57ac5b6b7afee2c3d4b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>Expect 4% move to happen within</th>\n<th>Higher strike</th>\n<th>Lower strike</th>\n<th>Refer graph on</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>5 days</td>\n<td>Far OTM</td>\n<td>ATM+2 strikes</td>\n<td>Top left</td>\n</tr>\n<tr>\n<td>15 days</td>\n<td>Far OTM</td>\n<td>ATM + 2 strikes</td>\n<td>Top right</td>\n</tr>\n<tr>\n<td>25 days</td>\n<td>OTM</td>\n<td>ATM + 1 strike</td>\n<td>Bottom left</td>\n</tr>\n<tr>\n<td>At expiry</td>\n<td>OTM</td>\n<td>ATM</td>\n<td>Bottom right</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>Expect 4% move to happen within</th>\n<th>Higher strike</th>\n<th>Lower strike</th>\n<th>Refer graph on</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>5 days</td>\n<td>Far OTM</td>\n<td>Far OTM</td>\n<td>Top left</td>\n</tr>\n<tr>\n<td>15 days</td>\n<td>Far OTM</td>\n<td>Slightly OTM</td>\n<td>Top right</td>\n</tr>\n<tr>\n<td>25 days</td>\n<td>Slightly OTM</td>\n<td>ATM</td>\n<td>Bottom left</td>\n</tr>\n<tr>\n<td>At expiry</td>\n<td>OTM</td>\n<td>ATM/ITM</td>\n<td>Bottom right</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "9. Put Ratio Back spread", "text": ["We discussed the \u201cCall Ratio Back spread\u201d strategy extensively in chapter 4 of this module. The Put ratio back spread is similar except that the trader invokes this when he is bearish on the market or stock.", "At a broad level this is what you will experience when you implement the Put Ratio Back Spread", "In simpler words you make money as long as the market moves in either direction, of course the strategy is more favorable if market goes down.", "", "Usually, the Put Ratio Back Spread is deployed for a \u2018net credit\u2019, meaning money flows into your account as soon as you execute Put Ratio Back Spread. The \u2018net credit\u2019 is what you make if the market goes up, as opposed to your expectation (i.e market going down). On the other hand if the market indeed goes down, then you stand to make an unlimited profit.", "I suppose this should also explain why the put ratio back spread is better than buying a plain vanilla put option.", "The Put Ratio Back Spread is a 3 leg option strategy as it involves buying two OTM Put options and selling one ITM Put option. This is the classic 2:1 combo. In fact the put ratio back spread has to be executed in the 2:1 ratio meaning 2 options bought for every one option sold, or 3 options bought for every 2 options sold, so on and so forth.", "Let take an example \u2013 Nifty Spot is at 7506 and you expect Nifty to hit 7000 by the end of expiry. This is clearly a bearish expectation. To implement the Put Ratio Back Spread \u2013", "Make sure \u2013", "The trade set up looks like this \u2013", "With these trades, the Put ratio back spread is executed. Let us check what would happen to the overall cash flow of the strategies at different levels of expiry.", "Do note we need to evaluate the strategy payoff at various levels of expiry, as the strategy payoff is quite versatile.", "Scenario 1 \u2013 Market expires at 7600 (above the ITM option)", "At 7600, both the Put options would expire worthless. The intrinsic value of options and the eventual strategy payoff is as below \u2013", "Do note, the net payoff of the strategy at 7600 (higher than the ITM strike) is equivalent to the net credit.", "Scenario 2 \u2013 Market expires at 7500 (at the higher strike i.e the ITM option)", "At 7500 both the options would have no intrinsic value, hence they both would expire worthless. Hence the payoff would be similar to the payoff we discussed at 7600. Hence the net strategy payoff would be equal to Rs.42 (net credit).", "In fact as you may have guessed, the payoff of the strategy at any point above 7500 is equal to the net credit.", "Scenario 3 \u2013 Market expires at 7458 (higher break even)", "Like in the call ratio back spread strategy, the put ratio back spread too has two breakeven points i.e the upper breakeven and the lower breakeven point. 7458 marks the upper breakeven level; of course we will discuss how we arrived at the upper breakeven point a little later in the chapter.", "Scenario 4 \u2013 Market expires at 7200 (Point of maximum pain)", "This is the point at which the strategy causes maximum pain, let us figure out why.", "Scenario 5 \u2013 Market expires at 6942 (lower break even)", "At 6942, both the options would have an intrinsic value; however this is the lower breakeven point. Let\u2019s figure out how this works \u2013", "Scenario 6 \u2013 Market expires at 6800 (below the lower strike price)", "Remember, the put ratio backspread is a bearish strategy. It is supposed to make money once the market goes below the lower breakeven point. So lets understand how the pay off behaves at a point lower than the lower breakeven point.", "Likewise, you can evaluate the strategy payoff at different levels of market expiry and you will realize that the profits are uncapped as long as the market continues to slide. The following table showcases the same \u2013", "", "Plotting the different payoff points, gives us the strategy payoff graph \u2013", "", "Clearly from the graph above, we can conclude \u2013", "We can generalize the key strategy levels as below \u2013", "As we know, the strategy gets more profitable as and when the market falls. In other words this is a directional strategy (profitable when markets go down) and therefore the delta at overall strategy level should reflect this. Let us do the math to figure this out \u2013", "The non zero Delta value clearly indicates that the strategy is sensitive to the directional movement (although negligible). The negative sign indicates that the strategy makes money when the market goes down.", "As far as the strikes are concerned, I\u2019d suggest you stick to the classic combination of ITM and OTM options. Remember the trade needs to be executed for a \u2018Net Credit\u2019. Do not initiate this strategy if there is a net outflow of cash at the time of execution.", "Let\u2019s look at the variation in volatility and its effect on the strategy \u2013", "", "There are three colored lines depicting the change of \u201cpremium value\u201d versus change in volatility. These lines help us understand the effect of increase in volatility on the strategy keeping time to expiry in perspective.", "", "Download Put Ratio Back Spread Excel Sheet", "Very useful topic. Plz clear my small doubt. Can we executive a call ratio back spread or the put ratio back spread on net debit? Do zerodha allows that? Kindly clarify.", "You can execute it for a net debit\u2026for example if you sell ATM and buy a strike just next to ATM then it \u2018may\u2019 result in a net debit. However its best if you can execute it for a next credit. You can do this with any broker, not just Zerodha.", "Thanks for the prompt reply Karthik. It\u2019s clear now. If I have to impliment the ratio spreads with an intraday or 1-2 days view, what sort of monyness you recommend for the option strike price.", "I would not suggest you do this for intraday. However if you wish to set this up overnight, I\u2019d suggest you look at the standard combo \u2013 ATM and OTM.", "a VERY tricky question regards to Hedging which time and strike price would be the best in bank nifty or nifty for doing hedging regardless volatility in the market. also how could we identify trends in the market like bullish or bearish trend?", "This comes purely based on experience, Sanjay \ud83d\ude42", "sir, i am new trader, i read your articles. All are too good. but i am not having that much time now to concentrate on market. is there any paid service to give successful traders ideas or calls", "You should check out \u2013 https://opentrade.in/", "Do we need to make the delta neutral while implementing this strategy and suppose if we put this strategy then can we make adjustments by keeping delta neutral after respective time interval???", "By its structure, the strategy will remain delta neutral.", "please confirm while sell ITM and Buy OTM must be done in a time frame,or i can buy PE 2 lot OTM and sell ITM some other day or few days later like after 7 days ,then whether this strategy will work .and what should be ITM strike position along with volatility .", "It has to be executed as a set in one shot, you cannot spit it over time.", "in this strategy as expected if volatility and movement does not come than @ what point should we exit the trade", "You can hold the position till expiry\u2026but if the position is making you uncomfortable, then you should exit.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2016/03/M6-C9-cartoon-1.png", "http://zerodha.com/varsity/wp-content/uploads/2016/03/Image-1_payoff-table.png", "http://zerodha.com/varsity/wp-content/uploads/2016/03/Image-2_payoff-graph.png", "http://zerodha.com/varsity/wp-content/uploads/2016/03/Image-5_volatility2.png", "https://secure.gravatar.com/avatar/ec81c05a0f639950dccc54d417ce83b0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ec81c05a0f639950dccc54d417ce83b0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0e7c4aa8dc17c4df387eda2065a4ed3d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/58f42e4f628414baaf6d83b1c227a405?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/caadfa55f3aeacc769d623e60fc0690f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1bec695c5d454af5779925f58597b9c7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1351fc813bc7a023d73c5ccc54009fee?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "2. Bull Call Spread", "text": ["The spread strategies are some of the simplest option strategies that a trader can implement. Spreads are multi leg strategies involving 2 or more options. When I say multi leg strategies, it implies the strategy requires 2 or more option transactions.", "Spread strategy such as the \u2018Bull Call Spread\u2019 is best implemented when your outlook on the stock/index is \u2018moderate\u2019 and not really \u2018aggressive\u2019. For example the outlook on a particular stock could be \u2018moderately bullish\u2019 or \u2018moderately bearish\u2019.", "Some of the typical scenarios where your outlook can turn \u2018moderately bullish\u2019 are outlined as below \u2013", "Fundamental perspective \u2013 Reliance Industries is expected to make its Q3 quarterly results announcement. From the management\u2019s Q2 quarterly guidance you know that the Q3 results are expected to be better than both Q2 and Q3 of last year. However you do not know by how many basis points the results will be better. This is clearly the missing part of the puzzle.", "Given this you expect the stock price to react positively to the result announcement. However because the guidance was laid out in Q2 the market could have kind of factored in the news. This leads you to think that the stock can go up, but with a limited upside.", "Technical Perspective \u2013 The stock that you are tracking has been in the down trend for a while, so much so that it is at a 52 week low, testing the 200 day moving average, and also near a multi-year support. Given all this there is a high probability that the stock could stage a relief rally. However you are not completely bullish as whatever said and done the stock is still in a downtrend.", "Quantitative Perspective \u2013 The stock is consistently trading between the 1st standard deviation both ways (+1 SD & -1 SD), exhibiting a consistent mean reverting behavior. However there has been a sudden decline in the stock price, so much so that the stock price is now at the 2nd standard deviation. There is no fundamental reason backing the stock price decline, hence there is a good chance that the stock price could revert to mean. This makes you bullish on the stock, but the fact that it there is a chance that it could spend more time near the 2nd SD before reverting to mean caps your bullish outlook on the stock.", "The point here is \u2013 your perspective could be developed from any theory (fundamental, technical, or quantitative) and you could find yourself in a \u2018moderately bullish\u2019 stance. In fact this is true for a \u2018moderately bearish\u2019 stance as well. In such a situation you can simply invoke a spread strategy wherein you can set up option positions in such a way that", "The 3rd point could be a little confusing at this stage; you will get clarity on it as we proceed.", "Bull Call Spread", "Amongst all the spread strategies, the bull call spread is one the most popular one. The strategy comes handy when you have a moderately bullish view on the stock/index.", "The bull call spread is a two leg spread strategy traditionally involving ATM and OTM options. However you can create the bull call spread using other strikes as well.", "To implement the bull call spread \u2013", "When you do this ensure \u2013", "For example \u2013", "Date \u2013 23rd November 2015", "Outlook \u2013 Moderately bullish (expect the market to go higher but the expiry around the corner could limit the upside)", "Nifty Spot \u2013 7846", "ATM \u2013 7800 CE, premium \u2013 Rs.79/-", "OTM \u2013 7900 CE, premium \u2013 Rs.25/-", "Bull Call Spread, trade set up \u2013", "Generally speaking in a bull call spread there is always a \u2018net debit\u2019, hence the bull call spread is also called referred to as a \u2018debit bull spread\u2019.", "After we initiate the trade, the market can move in any direction and expiry at any level. Therefore let us take up a few scenarios to get a sense of what would happen to the bull call spread for different levels of expiry.", "Scenario 1 \u2013 Market expires at 7700 (below the lower strike price i.e ATM option)", "The value of the call options would depend upon its intrinsic value. If you recall from the previous module, the intrinsic value of a call option upon expiry is \u2013", "Max [0, Spot-Strike]", "In case of 7800 CE, the intrinsic value would be \u2013", "Max [0, 7700 \u2013 7800]", "= Max [0, -100]", "= 0", "Since the 7800 (ATM) call option has 0 intrinsic value we would lose the entire premium paid i.e\u00a0 Rs.79/-", "The 7900 CE option also has 0 intrinsic value, but since we have sold/written this option we get to retain the premium of Rs.25.", "So our net payoff from this would be \u2013", "-79 + 25", "= 54", "Do note, this is also the net debit of the overall strategy.", "Scenario 2 \u2013 Market expires at 7800 (at the lower strike price i.e the ATM option)", "I will skip the math here, but you need to know that both 7800 and 7900 would have 0 intrinsic value, therefore the net loss would be 54.", "Scenario 3 \u2013 Market expires at 7900 (at the higher strike price, i.e the OTM option)", "The intrinsic value of the 7800 CE would be \u2013", "Max [0, Spot-Strike]", "= Max [0, 7900 \u2013 7800]", "= 100", "Since we are long on this option by paying a premium of 79, we would make a profit of \u2013", "100 -79", "= 21", "The intrinsic value of 7900 CE would be 0, therefore we get to retain the premium Rs.25/-", "Net profit would be 21 + 25 = 46", "Scenario 4 \u2013 Market expires at 8000 (above the higher strike price, i.e the OTM option)", "Both the options would have a positive intrinsic value", "7800 CE would have an intrinsic value of 200, and the 7900 CE would have an intrinsic value of 100.", "On the 7800 CE we would make 200 \u2013 79 = 121 in profit", "And on the 7900 CE we would lose 100 \u2013 25 = 75", "The overall profit would be", "121 \u2013 75", "= 46", "To summarize \u2013", "From this, 2 things should be clear to you \u2013", "We can define the \u2018Spread\u2019 as \u2013", "Spread = Difference between the higher and lower strike price", "We can calculate the overall profitability of the strategy for any given expiry value. Here is screenshot of the calculations that I made on the excel sheet \u2013", "", "As you can notice, the loss is restricted to Rs.54, and the profit is capped to 46. Given this,we can generalize the Bull Call Spread to identify the Max loss and Max profit levels\u00a0 as \u2013", "Bull Call Spread Max loss = Net Debit of the Strategy", "Net Debit = Premium Paid for lower strike \u2013 Premium Received for higher strike", "Bull Call Spread Max Profit = Spread \u2013 Net Debit", "This is how the pay off diagram of the Bull Call Spread looks like \u2013", "", "There are three important points to note from the payoff diagram \u2013", "I suppose at this stage you may be wondering why anyone would choose to implement a bull call spread versus buying a plain vanilla call option. Well, the main reason is the reduced strategy cost.", "Do remember your outlook is \u2018moderately bullish\u2019. Given this buying an OTM option is ruled out. If you were to buy the ATM option you would have to pay Rs.79 as the option premium and if the market proves you wrong, you stand to lose Rs.79. However by implementing a bull call spread you reduce the overall cost to Rs.54 from Rs.79. As a tradeoff you also cap your upside. In my view this is a fair deal considering you are not aggressively bullish on the stock/index.", "How would you quantify moderately bullish/bearish? Would you consider a 5% move on Infosys as moderately bullish move, or should it be 10% and above? What about the index such as Bank Nifty and Nifty 50? What about mid caps stocks such as Yes Bank, Mindtree, Strides Arcolab etc? Well, clearly there is no one shoe fits all solution here. One can attempt to quantify the \u2018moderate-ness\u2019 of the move by evaluating the stock/index volatility.", "Based on volatility I have devised a few rules (works alright for me) you may want to improvise on it further \u2013 If the stock is highly volatile, then I would consider a move of 5-8% as \u2018moderate\u2019. However if the stock is not very volatile I would consider sub 5% as \u2018moderate\u2019. For indices I would consider sub 5% as moderate.", "Now consider this \u2013 you have a \u2018moderately bullish\u2019 view on Nifty 50 (sub 5% move), given this which are the strikes to select for the bull call spread? Is the ATM + OTM combo the best possible spread?", "The answer to this depends on good old Theta!", "Here are a bunch of graphs that will help you identify the best possible strikes based on time to expiry.", "", "Before understanding the graphs above a few things to note \u2013", "The thought here is that the market will move up moderately by about 3.75% i.e from 8000 to 8300. So considering the move and the time to expiry, the graphs above suggest \u2013", "Here are another bunch of charts; the only difference is that for the same move (i.e 3.75%) these charts suggest the best possible strikes to select assuming you are in the 2nd half of the series.", "", "2.3 \u2013 Creating Spreads", "Here is something you should know, wider the spread, higher is the amount of money you can potentially make, but as a trade off the breakeven also increases.", "To illustrate \u2013", "Today is 28th November, the first day of the December series. Nifty spot is at 7883, consider 3 different bull call spreads \u2013", "Set 1 \u2013 Bull call spread with ITM and ATM strikes", "Set 2 \u2013 Bull call spread with ATM and OTM strikes (classic combo)", "Set 3 \u2013 Bull call spread with OTM and OTM strikes", "So the point is that, the risk reward changes based on the strikes that you choose. However don\u2019t just let the risk reward dictate the strikes that you choose. Do note you can create a bull call spread with 2 options, for example \u2013 buy 2 ATM options and sell 2 OTM options.", "Like other things in options trading, \u00a0do consider the Greeks, Theta in particular!", "I suppose this chapter has laid a foundation for understanding basic \u2018spreads\u2019. Going forward I will assume you are familiar with what a moderately bullish/bearish move would mean, hence I would probably start directly with the strategy notes.", "", "Download Bull Call Spread Excel Sheet", "Sir, If am no asking question out of context. plz tell me if there is any free tool available to calculate pay off and profit/loss or other things for option trading.", "There is an excel sheet at the end of the chapter which you can download. This will help you calculate the breakeven points.", "Hi Karthick ,", "Can you please explain why Risk : Reward shouldn\u2019t be considered in option strategies ? Because R:R is used to become profitable(or reduce the loss) even after few consecutive loss,right ? My assumption may be wrong, so can you explain more\u2026 Thanks in advance,Kartick \ud83d\ude42", "Billa \u2013 Risk Reward should be considered before executing any trade. Have I mentioned anywhere that it should not? If yes, please do let me know\u2026I need to correct it. Thanks.", "Hi, I want to know without system knowing our target or SL how can we have loss or profit in this scenario ?", "I\u2019m sorry, I\u2019m don\u2019t get your query. Can you please elaborate? Thanks.", "Hi Karthick,\nNo, itsn\u2019t mentioned R:R shouldn\u2019t be considered.. Written as \u201cdon\u2019t just let the risk reward dictate the strikes that you choose.\u201d Got it Now..Thanks.", "Welcome!", "hello sir here Maximum Risk is 54 times lot size\u2026.=54 * 75=4050 or if 67 points then 67*75 = 5025.\nthen why every broker needs 30000 to 40000 INR in margin for spread order.", "Please let me know.\nThanks", "Thats right. For executing this strategy you will need to pay full premium amount plus the margin for writing 1 lot of option. Margin required is purely from risk management perspective.", "I didn\u2019t get it sir, if there is no way I could lose more net debit amount then why do I need margin amount.", "Margin\u2019s are required as long as you have a leveraged position in the market. However, you do get a margin benefit when you initiate a spread strategy, check this \u2013 https://zerodha.com/margin-calculator/SPAN/", "Okay got it \ud83d\ude42 Thanks a lot sir", "Welcome!", "Dear Karhik,", "I have analyzed few basic and technicall and bought Sunpharma 800 call at 4.75 today. As expiry is still too far is there possiblity to get some 20 to 30 % return in this trade", "Well, our job is to analyse rationally, as long as thats done, the returns are expected to follow. Good luck!", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2015/11/M6-C2-cartoon.png", "http://zerodha.com/varsity/wp-content/uploads/2015/11/Image-1_Payoff.png", "http://zerodha.com/varsity/wp-content/uploads/2015/11/Image-2_Payoff.png", "http://zerodha.com/varsity/wp-content/uploads/2015/11/Image-3_first-half-of-series2-1024x576.png", "http://zerodha.com/varsity/wp-content/uploads/2015/11/Image-4_2nd-half-of-series2-1024x576.png", "https://secure.gravatar.com/avatar/b37a176fc35ca3fe385d1d78af5030fc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/81bbb387c66697ee3755260c90c365b4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e498aaa1135fcbae6fd5c6b537dae894?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/81bbb387c66697ee3755260c90c365b4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/7630d20538908ca0e085621b9d6816a3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c256a2686e8734dbfb817cf152e01594?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c256a2686e8734dbfb817cf152e01594?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5cc481705024dbecd55495583654d266?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<tbody>\n<tr class=\"tableizer-firstrow\">\n<th>Market Expiry</th>\n<th>LS \u2013 IV</th>\n<th>HS \u2013 IV</th>\n<th>Net pay off</th>\n</tr>\n<tr>\n<td>7700</td>\n<td>0</td>\n<td>0</td>\n<td>(54)</td>\n</tr>\n<tr>\n<td>7800</td>\n<td>0</td>\n<td>0</td>\n<td>(54)</td>\n</tr>\n<tr>\n<td>7900</td>\n<td>100</td>\n<td>0</td>\n<td>+46</td>\n</tr>\n<tr>\n<td>8000</td>\n<td>200</td>\n<td>100</td>\n<td>+46</td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<td>Lower Strike (ITM, Long)</td>\n<td>7700</td>\n</tr>\n<tr>\n<td>Higher Strike (ATM, short)</td>\n<td>7800</td>\n</tr>\n<tr>\n<td>Spread</td>\n<td>7800 \u2013 7700 = 100</td>\n</tr>\n<tr>\n<td>Lower Strike Premium Paid</td>\n<td>296</td>\n</tr>\n<tr>\n<td>Higher Strike Premium Received</td>\n<td>227</td>\n</tr>\n<tr>\n<td>Net Debit</td>\n<td>296 \u2013 227 = 69</td>\n</tr>\n<tr>\n<td>Max Loss (same as net debit)</td>\n<td>69</td>\n</tr>\n<tr>\n<td>Max Profit (Spread \u2013 Net Debit)</td>\n<td>100 \u2013 69 = 31</td>\n</tr>\n<tr>\n<td>Breakeven</td>\n<td>7700 + 69 = 7769</td>\n</tr>\n<tr>\n<td>Remarks</td>\n<td>Considering the outlook is moderately bullish,<br/>\n7769 breakeven is easily achievable,<br/>\nhowever the max profit is 31,<br/>\nskewing the risk (69 pts) to reward (31 pts) ratio.</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<tbody>\n<tr>\n<td>Lower Strike (ATM, Long)</td>\n<td>7800</td>\n</tr>\n<tr>\n<td>Higher Strike (ATM, short)</td>\n<td>7900</td>\n</tr>\n<tr>\n<td>Spread</td>\n<td>7900 \u2013 7800 = 100</td>\n</tr>\n<tr>\n<td>Lower Strike Premium Paid</td>\n<td>227</td>\n</tr>\n<tr>\n<td>Higher Strike Premium Received</td>\n<td>167</td>\n</tr>\n<tr>\n<td>Net Debit</td>\n<td>227 \u2013 167 = 60</td>\n</tr>\n<tr>\n<td>Max Loss (same as net debit)</td>\n<td>60</td>\n</tr>\n<tr>\n<td>Max Profit (Spread \u2013 Net Debit)</td>\n<td>100 \u2013 60 = 40</td>\n</tr>\n<tr>\n<td>Breakeven</td>\n<td>7800 + 60 = 7860</td>\n</tr>\n<tr>\n<td>Remarks</td>\n<td>Risk reward is better, but the breakeven is higher</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<tbody>\n<tr>\n<td>Lower Strike (ATM, Long)</td>\n<td>7900</td>\n</tr>\n<tr>\n<td>Higher Strike (ATM, short)</td>\n<td>8000</td>\n</tr>\n<tr>\n<td>Spread</td>\n<td>8000 \u2013 7900 = 100</td>\n</tr>\n<tr>\n<td>Lower Strike Premium Paid</td>\n<td>167</td>\n</tr>\n<tr>\n<td>Higher Strike Premium Received</td>\n<td>116</td>\n</tr>\n<tr>\n<td>Net Debit</td>\n<td>167 \u2013 116 = 51</td>\n</tr>\n<tr>\n<td>Max Loss (same as net debit)</td>\n<td>51</td>\n</tr>\n<tr>\n<td>Max Profit (Spread \u2013 Net Debit)</td>\n<td>100 \u2013 51 = 49</td>\n</tr>\n<tr>\n<td>Breakeven</td>\n<td>7900 + 51 = 7951</td>\n</tr>\n<tr>\n<td>Remarks</td>\n<td>Risk reward is attractive, but the breakeven is higher</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "12. Position Sizing for active traders (Part 2)", "text": ["The last chapter we laid down few key thoughts on position sizing and with that, I guess it is amply clear as to why one has to incorporate position sizing at the core of every trading strategy. Position sizing technique helps you identify how much of your equity capital has to be exposed for a given trade. In this chapter, we will take that discussion forward and explore ways to position size.", "A quick recap of sorts before we proceed. What is position sizing?", "Position sizing is all about answering how much capital you will expose to a particular trade given that you have \u2018x\u2019 amount of trading capital. One classic position sizing strategy which most people employ is the standard 5% rule. The 5% rule does not permit you to risk more than 5% of the capital on a given trade. For example, if the capital is Rs.100,000/-, then they will not risk more Rs.5000/- on any single trade.", "Here 5000 is the exposure to a trade and 10000 is the equity capital. You have decided to invest 5000 a trade based on a position sizing rule or a strategy.", "Needless to say, there are many different ways to position size, which by the way, also means (unfortunately) that there is no single guided technique to position size. You as a trader need to experiment and figure out what works for you. Of course, I will discuss few position sizing techniques soon.", "Now, irrespective of which position sizing technique you will follow, at some point the technique will require you to estimate your equity capital. For this reason, we will address the technique of estimating equity capital first and then proceed to learn position sizing techniques.", "What do I mean by equity capital?", "Equity capital is the basically the amount of money you have in your trading account based on which you decide how much capital to deploy in a trade. This may seem very trivial to you at this point. But allow me to illustrate why this is a tricky task.", "Assume you have Rs.500,000 capital and you work with a simple position sizing principle of exposing not more than 10% capital to a single trade. Given this, assume you take a position worth Rs.50,000/-.", "Now for the next trade, how much is your equity capital?", "Given that there are numerous outcomes and possibilities, estimating equity for the trade is not really a straightforward task. Hence, getting our act right in estimating the equity capital is very important before we proceed to learn position sizing concepts.", "", "At this point, I\u2019d like to go back to good old Van Tharp and talk to you some of the techniques he uses to estimate equity capital. These are some of the better techniques compared to the many out there. Essentially there are three techniques or models as he calls them \u2013", "The core equity model requires you to deduct the capital allocated to a trade from the existing capital.\u00a0 This way, the exposure to a trade goes on reducing as you ladder up more and more positions. Let me give you an example \u2013 assume your equity capital is Rs.50,000/- and you follow a simple 10% position sizing formula. The 10% rule implies that you do not expose or risk more than 10% of your capital to a trade. \u00a0So the first trade gets an exposure of Rs.5000. The core equity is now reduced to Rs.45000. Have a look at the following table \u2013", "", "Download the excel sheet here.", "So, the first trade assumes the equity available is Rs.50,000, hence 10% of the available equity is exposed first trade i.e Rs.5000/-. The core equity model requires you to deduct the capital deployed to a trade and re work on the core equity model. So, the core equity is now Rs.45000/-, which is also the available equity for the 2nd trade.", "For the 2nd trade, we again deploy 10% of the equity available i.e 10% * 45000 = Rs.4500/-. We deduct this amount to calculate the new core equity, which is now Rs.40,500/-. This also is now the newly available equity for the 3rd trade.", "So for the 3rd trade, the capital exposure for the trade is Rs.4050 and the new core equity is Rs.36,450/-. So on and so forth, I\u2019m assuming you get the drift.", "I consider this as a slightly conservative equity estimation model as you tend to reduce the capital allocation as the number of opportunities increases. For all you know, your 5th trade (for which the equity exposure is far lesser) may be a great winner. The other side of the argument is that the 5th trade could be the worst loser compared to the rest.", "Having said that, I like this model for the sake of its simplicity. Once you commit the capital to a trade, you kind of forget about that and move on with what is available.", "The Total equity model aggregates all the positions in the market along with its respective P&L and cash balance to estimate the equity. Let me straight away take an example to explain this \u2013", "Free cash available \u2013 Rs.50,000", "Margin blocked for Trade 1 = Rs.75,000", "P&L on Trade 1 = + Rs.2,000", "Margin blocked for Trade 2 = Rs.115,000", "P&L on Trade 2 = + Rs.7000", "Margin blocked for Trade 3 = Rs.55,000", "P&L on Trade 1 = \u2013 Rs.4,000", "Total Equity = 50000 + 7000 + 2000 +115000+7500+55000-4000", "= Rs.300,000/-", "So, as you can see, in the total equity model, free cash along with margins blocked and the P&L per position is taken into consideration. Now, if my position sizing strategy suggests a 10% exposure to a new position, then I\u2019d expose Rs.30,000/- on a new trade. If the free balance in my account does not permit me to take this position, then I\u2019d not really initiate a new position. I\u2019d wait to close one of the existing positions to take a new position.", "The fact that this model considers a live position along with its P&L into account for estimating equity makes it a little risky. I\u2019m personally not a big fan of this equity estimation model. This is somewhat like counting the chicken before they hatch.", "I do like the 3rd model to estimate the equity, this one is called the \u2018Reduced Total Equity Model\u2019.", "This model kind of combines the best of both the core equity model and the total equity model. It basically reduces the capital allocation to a particular trade (similar to core equity model) and at the same time includes the P&L of the trade which is already in place (similar to total equity model). However, the P&L is only on the locked in profits.", "Let me work with an example to help you understand this better. Assume I have a capital of Rs.500,000/-. Further, assume my position sizing strategy allows me to invest not more than 20% on a single trade, which is Rs.100,000/- per trade.", "I\u2019m looking at the chart of ACC and I decide to go long on ACC futures at 1800 by blocking a margin of approximately Rs.90,000/-, which is well within my position sizing limit of Rs.100,000/-.", "I\u2019ve now entered a position and waiting for the market to move. Meanwhile, as per the reduced total equity model, my the capital available for the 2nd trade is \u2013", "20%*( 500,000 \u2013 90,000)", "= Or about 20% of Rs.410,000/-", "= Rs. 82,000/-", "Note, because of the existing position, the exposure capital has reduced from Rs.100,000 to Rs.82,000/-. Up to this point, it works exactly like the core equity capital model.", "Now, assume the stock moves, and ACC jumps by 25 points to 1850. Considering the lot size of 400, I\u2019m now sitting on a paper profit of \u2013", "400*50", "= Rs.20,000/-", "I would now put in a trailing stop loss and lock in at least about 25 points out of 50 point\u00a0move or in Rupee terms, I want to lock in Rs.10,000 as profits.", "This means, for the long ACC position at 1800, I have to now place a stop loss at 1825 and locked in Rs.10,000/- as profits.", "I will now add this locked in profits back to the total equity. Hence my total equity now stands at \u2013", "410,000 +10,000", "=420,000/-", "This means, my new exposure capital will be 20% of the total equity \u2013", "=20% * 420000", "= Rs.84,000/-", "As you notice, the exposure capital has now increased by an additional 2000/-.", "I kind of like the reduced total equity model to estimate the total capital available to position size.\u00a0 If one follows tends to follow this technique, then it kind of forces you to practice basic stop loss principles, which according to me is very good.", "Anyway, I\u2019d like to close this chapter at this point. In the next chapter, we will consider one of the above-stated methods to estimate equity and look into few position sizing technique.", "Hu karthik,\nWhat i follow is 5% of total account size.\nE.g i have 100000 than i take trade of 5000 Rs each. I.e total 20 trades.\nStoploss 3%, profit 6- 8%.", "Whats your view on this?", "In the next chapter, I would be talking about few more techniques \ud83d\ude42", "Sir, when the next module will be uploaded Ex- Financial modelling", "The next module is on personal finance, maybe after this \ud83d\ude42", "Thanks for your patience and support!", "how many more module is now left sir", "Working on this module for now\u2026.plan is to include Personal finance (with a focus on MF), Trading strategies, and Financial Modelling.", "The next module is on personal finance, maybe after this \ud83d\ude42", "Thanks for your patience and support!", "Module 10 >..< ?? ?? ??", "After Module 9.", "Hi Sir,\nPlz make module on tracking fii investment stocks.\nHow to track which stocks they are buying these day.", "Thanks", "Thanks for the suggestion. Will try and put up a chapter on that sometime soon.", "And yes", "HAPPY INDEPENDENCE DAY.", "Thanks, Sohail. Wishing you the same!", "can you educate us on index ETF, INVERSE ETFS AND Gold ETF?", "The next module is in personal finance. Will include this in that module.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/08/M9C12-cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/08/Image-1_core.png", "https://secure.gravatar.com/avatar/693363f3beb2989f145dce54f54f41bb?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ac38e82d72f1399267fb381fbb426be1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ac38e82d72f1399267fb381fbb426be1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6d94eff5d1c07e055e9d0c5e9e573a8c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/cdb3eebd09a37cc845493328e6e49249?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/cdb3eebd09a37cc845493328e6e49249?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/693363f3beb2989f145dce54f54f41bb?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "14. Kelly\u2019s Criterion", "text": ["Last chapter we looked at three important position sizing techniques, all of them were unique in their own merit. The three techniques were \u2013", "All three methods work differently and when combined with a certain equity estimation technique, they produce totally different results. Given this, it is really up to you to figure out the marriage of which position sizing technique with which equity estimation technique works best for you.", "Before I proceed, I thought it is important to discuss another practical position sizing technique, called the \u2018Percentage Risk\u2019, method. I do know quite a few traders who use this and I myself find this quite simple and intuitive technique to use.", "", "The percentage risk method, relies upon your own assessment of \u2018loss\u2019 that you are willing to bear for a given trade. This, as you may know is also called the \u2018Stop loss\u2019 for the trade. The stop loss for a trade is the price at which you decide to close the trade and take a hit. The percentage risk technique controls the position size as a function of risk defined by stop loss.", "Let me take the example of a stock futures and explain how this works, in fact, I think this is a good trade setup\u00a0 \u2013", "", "Here is an intraday chart of Tata Motors, the frequency is 15 mins (14th Sept 2017, around 11:30 AM).", "Let me explain why this is a trade worth considering \u2013", "Tata Motors is at 393.65, which happens to be a price action zone, considering it tested the same level, twice in the past. So this makes 393.65, a support price for Tata Motors (on an intraday basis). Both the times in the past, the price declined of Tata Motors declined when the stock tested 393.65. Given this, there is a possibility that the price could again test 393.65 and react to bounce back to the price from which it started to decline i.e 400.", "Also, do notice the low volume retracement between 400 to 393.65 \u2013 I\u2019ve discussed why I like trades like these in the Technical Analysis module. If you\u2019ve not read that module, maybe you should \u263a", "Considering these factors, a trader could be inclined to go long on Tata Motors Futures at 393.65.", "What if the trade heads the other direction? What is the stop loss?", "I notice some sort of support at 390/-, hence I\u2019d be happy to set this as stop loss for the trade.", "Nothing complicated, as you can see this is a very straightforward setup.", "So the trade would be \u2013", "Stock: Tata Motors Limited", "Trade: Long", "Trade Price: 393.65", "Target Price: At least 400", "Target value 6.35", "Stop loss Price: 390", "Stop loss value: 3.65", "Reward to Risk: 1.7 (which is great for an intraday trade)", "Lot size: 1500", "Margin Required: 73.5K", "Now assume I have a capital of Rs.500,000/-, how many lots of Tata Motors can I buy considering the margin per lot is Rs.73,500/-?", "Technically speaking one can buy up to 6.8 or 6 lots \u2013", "500000/73500", "=6.8", "However the question is \u2013 would you expose your entire capital to this one trade alone? Not a smart thing to do, if you were to ask me, because if the trade goes wrong, you would be losing Rs.32,850/- (3.65 * 1500 * 6) on this trade.", "In other words, you would lose \u2013", "32850/500000", "=6.57% of your capital on one trade.", "However great a trade set up is, it is not a smart thing to expose so much capital to risk. As a thumb rule, professional traders do not risk more than 1 to 3% of their capital on any single trade, and this rule forms the core of the \u2018Percentage risk\u2019 position sizing technique.", "Given this, let us define the maximum risk per trade as a percentage of overall capital \u2013 maybe 1.5% for now. This means on this trade, the maximum loss I\u2019m willing to bear is", "1.5% * 500000", "Rs.7,500/-", "In other words, I don\u2019t intend to lose more than Rs.7,500/- on any single trade. This is the maximum loss threshold.", "We know the stop loss for this trade is 390, from an entry price of 393.65, the stop loss in absolute Rupee terms is \u2013", "393.65 \u2013 390", "= 3.65", "The loss per lot is \u2013", "3.65 * 1500", "= 5475", "In the event the stop loss is triggered I would be taking a hit of Rs.5475 per lot.", "Now to identify the number of lots I could take for the risk I\u2019m willing to bear, I simply have to divide the maximum threshold by the loss per trade.", "= 7500/5475", "= 1.36", "Therefore, on this trade I can go ahead and buy up to 1 lot, which will cost me Rs.73,500/- as margin deposits.", "For the next trade, it is prudent (or rather conservative in a positive way) to reduce the money blocked from the overall capital and re-work the maximum loss threshold. Let\u2019s do that and identify the new max loss threshold \u2013", "500000 \u2013 73500", "= 426,500", "1.5% * 426500", "= 6397.5", "Given this, for the next trade, I will work out the stop loss, multiply that with the lot size and divide the max risk i.e 6397.5 by loss threshold to identify how many lots I can transact in.", "So on and so forth!", "By the way, curious to know how the trade panned out? Here you go \u2013", "", "I like trades like these, when the price does not even approach close to the stop loss J. As I had pointed out earlier, I did have a great amount of conviction on this trade. This leads me to the next topic \u2013 how do I position size when my conviction on a particular trade is high? What in such situations I want to expose a slightly higher capital?", "Well, say hello to Kelly\u2019s Criterion!", "Kelly\u2019 Criterion has an interesting background. It was proposed by John Kelly in the 50\u2019s who at that point was working for AT&T\u2019s Bell Laboratories. He in fact, suggested the Kelly\u2019s Criterion to help the telecom company with long distance telephone noise issues. However, the same theory was adopted by professional gamblers to identify the optimal bet size. This soon found its way to the stock markets as well, and there are many professional traders and investors who use Kelly\u2019s Criterion for bet sizing. Perhaps, this is one of those very few tools that both traders and investors commonly use.", "I still don\u2019t know how the transition from Telecom to stock markets happened \u2013 I\u2019m a Telecom Engineer by qualification (although I know nothing about Telecommunications now) and I\u2019ve been involved in Stock markets for over 13+ years\u2026.but I just can\u2019t wrap my head around how Kelly\u2019s Criterion made its transition across these two different worlds J", "Anyway, the Kelly\u2019s Criterion essentially helps us estimate the optimal bet size (or the fraction of our trading capital) considering \u2013", "Let\u2019s jump straight to Kelly\u2019s Criterion with an example. The Kelly\u2019s Criterion is an equation, the output of which is a percentage, also known as a the Kelly\u2019s percent. The equation is as below \u2013", "Kelly % = W \u2013 [(1-W)/R]", "Where,", "W = Winning probability", "R = Win/Loss ratio.", "To understand this better, let\u2019s take up an example. Assume I have a trading system which has produced the following results, for sake of simplicity, let\u2019s assume this is a trading system to trade just one stock, Tata Motors.", "Given the above data \u2013", "W = Total Number of winners / Total number of trades", "= 6/10", "=0.6", "R = Average Gain / Average Loss", "Average gain = Average of [5325, 2312, 4891, 1763, 8675, 4231]", "= 4,532", "Average loss = Average of [6897, 231, 989, 1980]", "=3,274", "R = 4532 / 3274", "= 1.384", "Do note, a number greater than 1 is always desirable as it indicates that your average gains are higher than your average loss.", "Lets plug these numbers back to the Kelly\u2019s Criterion equation \u2013", "Kelly % = W \u2013 [(1-W)/R]", "= 0.6 \u2013 [(1-0.6)/1.384]", "=0.6 \u2013 [0.4/1.384]", "= 0.31 or 31%.", "As per the original school of thought \u2013 Kelly\u2019s percentage is a direct representation of how much capital one should expose for a trade. For example, for the 11th trade on Tata Motors, Kelly\u2019s Criterion suggests a capital exposure of 31%.", "But I think this can be a little tricky, imagine a trading system with great accuracy \u2013 the Kelly;s Percentage can turn out to be 70%, suggesting a capital exposure of 70% to the next trade. Not a very smart thing to do if you ask me. However, you may ask why not? After all a system with 70% accuracy is a great, so why not maximize the bet?", "This is because, there is still a 30% chance to lose 70% of your capital!", "Given this, here is a simple modification to Kelly\u2019s criterion. Let us go back to the percentage risk position sizing technique we discussed earlier in the chapter.", "We defined the percentage risk as a technique wherein the exposure to a trade is defined as 1.5% (or any percentage) of the capital. Given Kelly\u2019s criterion, we can modify the exposure as \u2018up to 5%\u2019 (or any percentage you deem suitable).", "What does this mean? This means for a given trade, I would not expose more than 5% of the capital. This also means that capital exposed could range from as low as 0.1% to all the way up to 5%. So how do I decide?", "We can use Kelly\u2019s percentage here. For example if the Kelly\u2019s percentage is 30%, then I\u2019d expose, 30% of 5% or in other words, I\u2019d expose 1.5%. If the Kelly\u2019s percentage is 70%, then I\u2019d expose 70% of 5% or say 3.5% of the capital on the trade.", "So higher the Kelly\u2019s percentage, higher is the capital exposed and vice versa.", "For a more Mathematical explanation on Kelly\u2019s Criterion, I\u2019d suggest you watch this video, if not for anything, watch from the 10th minute onward.", "", "With this, I\u2019d like to close the discussion on position sizing, hopefully the last 4 chapters has given you a fair understanding of the importance of position sizing and techniques to position size your bets.", "Onwards to \u2018Trading and Investing Biases\u2019.", "I must say Sir, varsity has become an addiction?\nSuppose, I have an innumerable no. Of trades, in that what no. Of past trades should i consider looking?", "Also if I am investing in a particular stock which I have not previously traded/invested, will Kelly\u2019s criterion work?\nI mean to say is it independent of the past types of stocks i have traded?", "Learning is a good addition to have \ud83d\ude42", "You are right \u2013 Kelly\u2019s Criterion requires you to have a history of past trades. Does not work if you do not have a history. However, this reminds me \u2013 there is a technique to generalise this and make it independent of past trades. Will try and put this up.", "Sure. Will Look forward to it.", "Cheers!", "Sir, you are doing a great work.\nSir, please tell me about the technique to generalise this and make it independent of past trades, as it would be really helpful to me, and hope all of us.", "Kelly\u2019s criterion requires you to look into past trades. No workaround for this I guess.", "Hi Karthik,\nHow do we do such calculations in the live market.We cannot obviously di it beforehand nor in live markets as the price may go further in the time we do the calculation.How should we manage to do this?", "Well, all your trades have to be planned. These things are there to help you make that plan. Impulsive trades in markets often results in bad P&L.", "Sir,\nA little bit off topic but please clarify me about gapup gapdown opening. Suppose today\u2019s closing price of a stoct is 100 and in the last minute of trading session, I place a gtc buy order at 97 which is not executed on that day. If on the next day market directly opens at 94, will my order have been executed?", "No, for two reason \u2013\n1) All pending orders are cancelled at the end of the day\n2) For a minute lets assume the orders are carried forward, even in this case the order will not really get executed as the price has gapped below your limit price.", "Sir, when implementing options strategy, usually I have seen both legs going in loss in the short term (first 1-3 days) and then turn to profits ( probably).. now should I square off oweing to my stoploss or should I wait for more time, which means could be deep loss or profit too??\nWhat do u do usually?", "Well, if this is a pattern which is working consistently, then may you should tweak it give you better entry signals. Of course, holding makes sense \ud83d\ude42", "Hi Kartik,", "I would generally trade FnO and would love to know precise position sizing technique used in trading it.\nI generally take an intraday trade with fixed 2% SL from entry point. How should I calculate position size for such trades? Please help.", "Regards,\nChetan", "I guess some of the techniques explained earlier in the modules \u2013 like total equity, reduced equity models helps. Have you looked at them?", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/09/M9-C14-cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/09/Image-1_tata-motors.png", "https://zerodha.com/varsity/wp-content/uploads/2017/09/Image-2_close.png", "https://secure.gravatar.com/avatar/146a996895287aaa4771f6c4408d13a2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/146a996895287aaa4771f6c4408d13a2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f8a7fec563d9a1a892151d66b0530b6d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/200a117b52cebb183e067e1641cf49bd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b2f615db3c09bdd3a87312d0f8ed9ae2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/18c0ae25dfc9b6c7ee68422080a97242?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e418ebf9e7b37236ebd88d512af212ab?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th width=\"46\"><strong>Sl No</strong></th>\n<th width=\"126\"><strong>Signal Date</strong></th>\n<th width=\"95\"><strong>Result</strong></th>\n<th width=\"81\"><strong>P&amp;L (in INR)</strong></th>\n</tr>\n<tr>\n<td width=\"46\">01</td>\n<td width=\"126\">3^rd Sept</td>\n<td width=\"95\">Win</td>\n<td width=\"81\">+ 5,325</td>\n</tr>\n<tr>\n<td width=\"46\">02</td>\n<td width=\"126\">4^th Sept</td>\n<td width=\"95\">Win</td>\n<td width=\"81\">+2,312</td>\n</tr>\n<tr>\n<td width=\"46\">03</td>\n<td width=\"126\">5^th Sept</td>\n<td width=\"95\">Win</td>\n<td width=\"81\">+4,891</td>\n</tr>\n<tr>\n<td width=\"46\">04</td>\n<td width=\"126\">6^th Sept</td>\n<td width=\"95\">Loss</td>\n<td width=\"81\">\u2013 6,897</td>\n</tr>\n<tr>\n<td width=\"46\">05</td>\n<td width=\"126\">11^th Sept</td>\n<td width=\"95\">Win</td>\n<td width=\"81\">+1,763</td>\n</tr>\n<tr>\n<td width=\"46\">06</td>\n<td width=\"126\">12^th Sept</td>\n<td width=\"95\">Loss</td>\n<td width=\"81\">-3,231</td>\n</tr>\n<tr>\n<td width=\"46\">07</td>\n<td width=\"126\">13^th Sept</td>\n<td width=\"95\">Loss</td>\n<td width=\"81\">-989</td>\n</tr>\n<tr>\n<td width=\"46\">08</td>\n<td width=\"126\">14^th Sept</td>\n<td width=\"95\">Loss</td>\n<td width=\"81\">-1,980</td>\n</tr>\n<tr>\n<td width=\"46\">09</td>\n<td width=\"126\">15^th Sept</td>\n<td width=\"95\">Win</td>\n<td width=\"81\">+8,675</td>\n</tr>\n<tr>\n<td width=\"46\">10</td>\n<td width=\"126\">18^th Sept</td>\n<td width=\"95\">Win</td>\n<td width=\"81\">+4,231</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "16. Trading Biases (Part 2)", "text": ["I\u2019ve spent close to about 13 years participating in the stock markets. I\u2019ve spent these years in various capacities \u2013 as a trader, investor, broker, money manager, analyst etc. I\u2019ve had my fair share of happiness and regrets in the markets and I\u2019ve learned a lot (still continue to learn) during these years. I\u2019ve realized that happiness and regret may not always be a linked to the outcome of a trade that you\u2019ve taken up \u2013 you feel happy when you make a profit and regret when the trade results in a loss. These feelings can also manifest out of trades that you\u2019ve not taken up. Let me tell you one of my biggest regrets in the stock markets till date.", "I the recent years, August / Sept 2013 was one of the greatest times to build a long-term portfolio from scratch.\u00a0 Stocks of great business were available at throwaway valuations. I was fortunate enough to be aware of this situation in the market and I was really busy structuring my equity portfolio. I had a tough time selecting stocks to include in my portfolio. Tough time in the sense that there were too many opportunities to choose from. In fact, this is what a bear market does to you \u2013 it spoils you for choices.", "I included few stocks in the portfolio (which I still continue to hold) and I let go of many stocks including MRF, Bajaj Finserve etc. The decision to let go of these stocks was based on the fact that I perceived investing in other stocks more attractive. Stocks like MRF and Bajaj Finserve have performed phenomenally well, but then I don\u2019t regret my decision.", "However, the decision to not invest in Sundaram Clayton Limited pains my heart \u2013 I consider this as one of the biggest regrets.", "Take a look at this chart \u2013", "", "I did my usual stock research and was convinced that the stock was a great buy. I\u2019ve circled the area around which I wanted to buy \u2013 roughly around 270 per stock. Given that it was a bear market, I was kind of rigid on the price to buy \u2013 270 or lower.", "The stock price moved slightly higher to about 280, but I did not budge. I waited. The stock price moved to 290, I waited. A couple of days later, the stock shot to 310 and I remember convincing myself \u2013 the stock will retrace back to 270 considering that it was a bear market. After all, I was in no mood to pay a 15% \u2018premium\u2019 on a price that I perceived as \u2018the best price\u2019.", "As you may have guessed, 270 never occurred and I never got to buy this stock, and here is what really happened to the stock later on \u2013", "", "I\u2019ve circled the 270 price mark again for your reference, which is where my so-called \u2018price conflict\u2019 occurred \u2013 all in my mind!", "I probably missed out one of the greatest investment opportunity in my life, and all thanks to the games my mind played with me. More formally, what really prevented me from buying Sundaram Clayton can be attributable to a notorious trading bias called \u2018The Anchoring Bias\u2019.", "I was looking up on Wikipedia for \u2018Anchoring Bias\u2019, and I discovered a new term for the same \u2013 it is also called \u2018Focalism\u2019. Anchoring bias belongs to a group of biases grouped under \u2018Cognitive Biases\u2019. Cognitive bias is a systematic error in our thinking that affects the way human beings make their decisions or judgments. Anchoring Bias leads the list of cognitive biases.", "Under the influence of Anchoring Bias, we tend to get fixated to the first level of information we get. For example, in my very own case, the first price I saw on the terminal was 270 (for Sundaram Clayton), and I was fixed to that price. Here 270, formed a price anchor.", "Think about your own trading situations \u2013 how many times you may have missed placing that buy order or a stop loss order because the price that you perceived as \u2018right\u2019 never occurred, only to later see the stock perform exactly the way you thought it would. After all, in most of these situations, the price difference between what we perceived as right and the one available in the markets would be marginal \u2013 few Rupees probably, but then our minds just do not permit us to go ahead.", "Like any other biases, there is no real cure for anchoring bias. The only real cure is to be aware of it and adopt critical thinking in your approach to markets.", "This is yet another cognitive biases \u2013 although you will not read much about this particular bias in the trading world. However, I think it kind of has its impact on traders, especially the ones who trade derivatives.", "Let me give you a generic explanation of \u2018functional fixedness\u2019 bias and then relate this to the trading world.", "There is juice shop near my office which I frequent for a glass of fresh juice. On one of those visits, I asked for my regular orange juice, but the guy at the juice shop was busy fixing the mixer jar. The handle of the jar was loose and had to be fixed. The guy was busy trying to find a screwdriver to tighten the mixer\u2019s handle. Unable to find one, he was kind of clueless on how to proceed.", "At the same time, his colleague walked in and learned about the issue. He simply picked up a spoon which was lying around, used the other end of the spoon (which basically has a flat side) as a makeshift screwdriver and tightened the jar. Problem solved, juice was served.", "This is functional fixedness at its best. Functional Fixedness is a cognitive bias that limits a person to using an object only in the way it is traditionally used. We assign tasks to objects and we live with that rigidity all our lives. For example \u2013 we have all grown up with the notion that we only need to look for a screwdriver to tighten screws, without which one cannot. However, a simple spoon can do the same job! One has to start thinking out of the box to solve problems in unconventional ways.", "There are few ways in which Functional Fixedness limits our way of thinking when it comes trading. Let me start with a classic example.", "Assume you have Rs.100,000/- in your trading account. You have identified a great trading opportunity in Nifty and you expect to hold onto the trade for the next 2 or 3 days.\u00a0 Since you intend to hold this trade overnight, you have to opt for a \u2018NRML\u2019, product type.\u00a0 The typical margin blocked for this trade would be about Rs.65,000/-.", "So you take the trade around 3:20 PM and carry the position forward. End of the day 65K would be blocked as margin and 45K would be your available balance, which can be utilized toward another trade the next day.", "The next day market opens, Nifty starts moving in the direction that you expect it to move. You are happy with the way things are going.", "Now, assume that you spot a great intraday opportunity, TCS stock futures, which requires you to pay an MIS margin of 60K. What will you do? The available margin is 45K, you\u2019d fall short of 15K right? Therefore you cannot take the TCS intraday trade.", "Now, this is where the functional fixedness is playing the culprit. We consider the NRML (margins blocked for overnight positions) as \u2018margins blocked\u2019, and we invariably forget about this capital until we square off the position.", "With a little bit of \u2018out of the box\u2019, thinking (and some efforts) we can, in fact, continue to hold the overnight position plus take up the intraday opportunity.", "Here is how it would work \u2013", "The snapshot below shows you how you can do this on Kite \u2013", "", "Have a look at the Tata Motor\u2019s below", "", "I\u2019ve marked few important points on this chart \u2013", "Considering the above, guess the stock is all primed up for an up move \u2013 don\u2019t you think so?", "Also, keeping that analysis in the back of our mind how would you view this piece of news which made the headlines earlier today \u2013", "", "Chances are that you will views this news piece as a trigger for Tata Motors to edge higher and therefore support your logic of buying the stock. However, in reality, the fundamental news may not really be a great trigger to drive the stock price higher. But then, at a subconscious level, you start looking for pieces of information that support your view. In other words, when you form a trading opinion, no matter what happens, you only look and assimilate information that supports your view. Your brain somehow does not allow you to pay attention to information that does not support your original contention.", "This is called the \u2018Confirmation Bias\u2019.", "Critical reasoning is the key to overcome the confirmation bias. You got to ask yourself \u2013 so what?", "This one is funny.", "How many times have you had a winning trade and ended up feeling proud of your analysis? Perhaps you bought an option and it gained 100% on the premium or maybe you bought a stock and saw it appreciate multifold.", "Every time you make a profit \u2013 it is somehow because of your smart trading logic, and therefore you give yourself a pat on your back. But what about the times you\u2019ve made a loss? How do you deal with it?", "Coming from a stockbroking industry, let me tell you one thing \u2013 when people make a loss, they invariably attribute this as broker\u2019s fault and not really their own. Traders find all sorts of reasons to blame the broker \u2013 broker\u2019s system failed, charts not loading, orders are slow, and what not.", "Everything thing is attributable to someone else\u2019s mistake (mainly the broker) and not really the subpar analysis in the first place!", "This is called the \u2018Attribution Bias\u2019 and people succumb to it owing to acknowledge the fact that they are wrong. One way to overcome the attribution bias is to maintain a trading journal and make entries which reason outs why you\u2019ve entered into a trade and why you decided to close the trade. These journal entries over time give you a great insight into your own trading behavior.", "The list of these biases gets endless. Naturally, covering all of them would be hard. However, here is what I\u2019ll do \u2013 I\u2019ll keep this chapter open and I will continue to add more biases as and when I discover them myself \u263a", "With this chapter, I\u2019d like to close this module on Risk and Trading Psychology. As usual, I hope you enjoyed reading this module, as much as I enjoyed writing it for you all.", "Keep those comments coming!", "Thank you for the read.. Before varsity I didn\u2019t have good reference material and used to read rich dad\u2019s guide to investing!!\nWhat are your opinion on Robert kiyosaki and his books ???", "I\u2019ve actually not read that book, Vishal \ud83d\ude42", "Hi Karthik", "Earlier we could access P&L day by day but now it\u2019s showing only from 1st April, please fix this. I am not able ( I am sure others as well ) to see my brokerage as well other charges. Hope you guys can fix this at earliest.", "Much Thanks\nRahul", "Rahul, I guess the system is getting updated. This should be sorted sometime soon.", "Work around for FROM DATE issue is just copy paste the date of ur choice\u2026", "Hi karthik,", "Its very difficult, please fix as soon as possible", "suppose i buy a stock ,say deltacorp which CMP is 230 . i want to buy if it reaches to 232 . so i am placing a SL-MARKET buy order ,with a trigger price of 232. my question is how to place my order to limit my loss if the stock goes negative. can i place it in the buy order itself or i have to place SL-LIMIT order with trigger as 228", "After you buy, please place a sell SL-limit order at 228.", "Next module- Trading strategies., please sir.", "Yes Sir!", "Mr. Karthik, looks like you\u2019re a bit of a psychology and NLP techniques too. It was a great chapter as usual. Can I ask when are the pdf\u2019s going to be created? Thank you.", "PDF\u2019s will most probably be up next week \ud83d\ude09", "Karthik, thank you so much. These are very informative and helpful. Can you please publish the pdf", "PDF will take a slightly longer time, Prashanth.", "Hi Karthick, PDFs are still awaited, i have saved all these for flight readings. keep going on over and over again. What a collection of learnings. Take a Bow to you the master", "Haha, glad to know Varsity gives you company during those long and boring flight journeys \ud83d\ude42", "Will upload the PDFs very shortly. Thanks.", "Wonderful writing again Karthik Sir.For those of you who want to explore all the other kinds of bias that exist please read the book \u201cThe art of thinking clearly\u201d by Rolf Dobelli.", "I\u2019ll try and lay on hands on that as well, thanks for suggesting \ud83d\ude42", "Yes, Its a wonderful book that helps you to introspect.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/M9-C16-cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/Image-1_SC.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/Image-2_Screg.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/Image-3_ff.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/Image-4_tm.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/Image-5_tm.png", "https://secure.gravatar.com/avatar/c0bf3e3a8c79fc4d9561ee98af6c4395?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/45192aa5068bc2c17e0d85e25f2e30e1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/18c0ae25dfc9b6c7ee68422080a97242?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ad048f96c166c0d137adb9a6b404a2ef?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2ce8780545f2efd84b54384ae8fb2206?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/bed2d68e83bc599a6007214e7c261052?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f1bdf3dc77f49a67df4a56ffa85ec1da?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/7c1f4bca120ea7bf297ccb34ba279274?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/200a117b52cebb183e067e1641cf49bd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/77df2aed256c483b6aea0af84e5be6c1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "1. What to expect?", "text": ["Such a glorious day to start this module! Here is the headline that rocked the stock markets today \u2013", "", "Yesterday i.e 24th Oct 2017, the Finance Minister announced that the Government would infuse Rs.210,000 Crore into the Public Sector banking system, which is basically an effort to save the PSU banks from the deteriorating NPAs (Non-performing assets).", "How did PSU Banks react to this announcement? After all, this is a lease of life to the PSUs. Well, they were jubilant, as expected \u2013", "", "As you can see, the PSU Bank index shot up 27.75% at opening.", "Some of the PUS stock options were on steroids, here is the hero of the day \u2013", "", "Punjab National Bank\u2019s 160 Call option expiring on 26th Oct 2017, shot up 20,600% overnight! If you had bought 1Lac worth of option on 24th Oct, it would have translated to 2.02 Cr on 25th Oct morning. \u00a0So clearly, there is a lot of action in the market today.", "Earlier in the day, my colleague and I were looking at the way markets were behaving and trying spot an opportunity, and here is something that looked interesting \u2013", "Bank Nifty Index too joined the party, with the index going up nearly 3% (look at the image of the sectoral indices above). However, a 3% move on Bank Nifty was quite questionable considering the fact that PSU banks contribute just around 10% to the Bank Nifty index, look at the index constituents and its weights below \u2013", "", "Considering this, my colleague and I decided to write a short strangle on Bank Nifty and collect a premium of close 253 points per lot, obviously hoping that the volatility would die and premiums would reduce.", "I don\u2019t want to debate about the reasoning of this trade \u2013 whether it\u2019s going to make money or not is not really the concern, although I hope it does \u263a", "However, I want you to think about the thought process behind this trade.\u00a0 The trade idea originated through what I consider as \u2018systematic deduction\u2019. \u00a0To make such\u00a0systematic deduction and find opportunities, you need to question what is happening in the market and sometimes be willing to take contrarian positions, which is exactly what we did.", "\u2018Systematic deduction\u2019 is one of the most popular methods market participants adapt to trade the market. However, not all systematic deductions are right, you could, of course, succumb to biases and make systematic errors while making these deductions. Nevertheless, systematic deduction\u00a0is one of the other popular techniques to trade. Other popular trading techniques being \u2013", "None of the above mentioned \u2018approach\u2019 to trade the market, including the \u2018systematic deduction\u2019 can really be defined as a process. These are ad-hoc methods, which cannot really be quantified or backtested.", "Any approach to trade where you cannot really define \u2018the approach\u2019 as a process is not considered as a trading system.", "On the contrary, if you can define the approach and can quantify the process to trade the market, then you are essentially talking about a \u2018Trading System\u2019, which is exactly the focus of this module.", "The moment you talk about a trading system, people generally tend to think of these systems as a sure shot technique to make money, or in other words, they approach these systems as a money-making machine. They expect profits to roll from the first trade itself. Unfortunately, it does not really work that way.", "Remember, a trading system receives a bunch of inputs from your end, performs a set of task, and gives you an output. Based on the output, you then decide (or the system itself decides) if this is a trade worth taking or not.", "Here is how you can visualize this \u2013", "", "If you realize, for the trading system \u2013", "So the onus of making money really depends on you. The advantage of a trading system, however, is that \u2013 you only have to decide the logic once and then just follow the system that you\u2019ve designed.", "Of course, as you may have sensed, I\u2019ve dumbed down the journey of a trading system to a large extent, and this is just to give you a perspective at this stage.", "The trading systems that we will discuss in this module will be complete, in the sense, it will have \u2013", "At this point, I\u2019ve planned to write about the following 4 trading systems \u2013", "There two techniques to pair trade \u2013 a simple approach based on correlations and a slightly complex approach using statistical concepts \u2013 both of which we will explore. \u00a0Of course, as we proceed, I may try and add other trading systems as well.", "However, this module will not include the \u2018backtest\u2019 bit. The onus is on you to backtest the system and figure out if the system works for you or not. You will have to take the rules of the system and figure out how many times in the past it has worked and if it has worked, what kind of profitability pattern the system is showcased.", "Remember, no trading system is complete without having the backtesting results. The only reason why I\u2019m not including the backtesting part is that I lack programming skills. Some of these systems can be efficiently backtested if you can manage to write a piece of code. When these systems were developed, I was fortunate enough to have a fellow trader with programming skills, hence I was in a position to get greater insights into these systems. I must also tell you that these were fairly competent systems to trade \u2013 and I presume they still are.", "Of course, the market conditions have changed, hence a fresh set of backtesting is justified.", "However, the broader objective of this module is to showcase different systems and give you insights into how systems are developed. Hopefully, this will inspire you to develop your own system and perhaps works out to be your own money making machine!", "With this hope let us proceed \u2013 onwards to Pair trading!", "PS: The short strangle on Bank Nifty worked out quite well \u263a", "Very much excited to see the much awaited module live.I just have one question. I know you have already said that you do not trade naked options, but why not take a bull call spread or some other aggressive bullish trade on some top PSU bank\u2019s options, as it would give you maximum benefit or am I missing something here? I am just an option beginner and trying to know the way pros like yourself think. Thank you.", "This was a call on Bank Nifty\u2019s irrational movement, Shashidhar \ud83d\ude42", "Sir u said 4 trading system will be dealt with, but in whole module ony pair trading is discussed when can we expect the other 3.", "Starting work on that soon, Vinay \ud83d\ude42\nThese will be much shorter chapters though.", "sir this is great help in learning all this thing would request you to please make this chapter also available in pdf format that will be great help seriously", "PDF will be available once the module is complete. This module is work in progress.", "Congrats on your bank nifty short strangle turning out right \ud83d\ude42", "I was taken by surprise about the rally in Banknifty.. unfortunately got on to the wrong side of the trend..Some hard lessons learnt ..1. Never do naked options.. 2. Don\u2019t put all eggs in single basket", "Sir, where do u think the banknifty ends by Nov expiry (ball park number atleast)? Your answer will give boost to my thought process and to my existing open trade \ud83d\ude42", "Thats is a hard call, Ravi. Maybe you should apply the volatility concept and get a sense of where the expiry could be. Or something like max pain.", "Sir, I was expecting a module on personal finance? As you had said earlier.", "There were way too many requests for Trading Systems, Umer \ud83d\ude42", "Im sure this too will be good \ud83d\ude42\nat the same time Ill wait for personal finance after this\u2026", "Thanks for the understanding, Umer.", "Yeah, I want to build my own trading system. It should needs rules and regulations. I eagerly awaiting to learn your lessons. hurrah!!!!", "Hope your wait is worth its time!", "Karthik, If you don\u2019t mind, can you give details of the trade setup you did for the mentioned banknifty ?", "Ah\u2026it was nothing fancy\u2026 a straightforward short strangle with 24000 PE and 26000 CE.", "Thanks \ud83d\ude42", "Cheers!", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/M10C1-Cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/Image-1_news.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/Image-2_index.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/Image-3_pnb.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/Image-4_banknifty.png", "https://zerodha.com/varsity/wp-content/uploads/2017/10/M10C1-Trading-System.png", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/543c38252d1d0557c342f7880a4449aa?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/59c29bb38ce129b825135cd1d798dc92?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/18c0ae25dfc9b6c7ee68422080a97242?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/146a996895287aaa4771f6c4408d13a2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/146a996895287aaa4771f6c4408d13a2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/81672f837ae196cfc3e611c41185dff7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/18c0ae25dfc9b6c7ee68422080a97242?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/18c0ae25dfc9b6c7ee68422080a97242?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "8. All about Shorting", "text": ["We briefly discussed shorting in Module 1. However in this chapter we will look at shorting in greater detail. Shorting is a tricky concept because we are not used to shorting in our day to day transaction. For example imagine this transaction \u2013 You buy an apartment today for let us say Rs.X, sell it 2 years later for Rs.X+Y. The profit made on the transaction is the incremental value over and above Rs.X, which happens to be Rs.Y. This is a simple and a highly intuitive transaction. In fact most of the day to day transactions requires us to buy something first and sell it later (maybe for a profit or a loss). These are simple to understand transactions and we are used to it. However in a short sale or a just \u2018shorting\u2019 we carry out the transactions in the exact opposite direction i.e. to sell first and buy later.", "So what would compel a trader to sell something first and then buy it later? Well, it is quite simple \u2013 When we believe the price of an asset such as a stock is likely to increase we buy the stock first and sell it later. However, when we believe the price of the stock is going to decline, we usually sell it first and buy it later!", "Confused? Well, let me try giving you a rudimentary analogy just so that you can get the gist of the concept at this stage. Imagine your friend and you are watching a nail biting India Pakistan cricket match. Both of you are in a mood for a little wager. You bet that India is going to win the match, and your friend bets that India will lose the match. Quite naturally this means you make money if India wins. Likewise your friend would make money if India were to lose the match. Now for a minute think of the India (as in the Indian cricket team in this context) as a stock trading in the stock market. When you do so, your bet is equivalent to saying that you would make money if the stock goes up (India wins the match), and your friend would make money if the stock goes down (India loses the match). In market parlance, you are long on India and your friend is short on India.", "Still confused? May not be I suppose, but I would imagine a few unanswered questions crawling in your mind. If you are completely new to shorting, just remember this one point for now \u2013 When you feel the price of a stock is likely to decline, you can make money by shorting the stock. To short stock or futures, you will have to sell first and buy later. In fact the best way to learn shorting is by actually shorting a stock/futures and experiencing the P&L. However in this chapter, I will try and explain all the things you need to know before you go ahead and short the stock/futures.", "Before we understand how one can short a stock in the futures market, we need to understand how shorting works in the spot market. Think about the following hypothetical situation \u2013", "Now given this outlook, the trader wants to profit by the expected price decline. Hence he decides to short the stock. Let us understand this better by defining the trade \u2013", "As we know, when one shorts a stock or stock futures, the expectation is that the stock price goes down and therefore one can profit out of the falling prices. So from the table above the idea is to short the stock at Rs.1990.", "On the trading platform when you are required to short, all you need to do is highlight the stock (or futures contract) you wish to short and press F2 on your trading platform. Doing so invokes the sell order form; enter the quantity and other details before you hit Submit. When you hit submit, the order hits the exchange and assuming it gets filled, you would have created a short open position for yourself.", "Anyway, now think about this \u2013 When you enter a trading position, under what circumstances would you make a loss? Well, quite obviously you would lose money when the stock price goes against your expected direction. So,", "For this reason whenever you short, the stoploss price is always higher than the price at which you have shorted the stock. Therefore from the table above you can see that the short trade entry is Rs.1990/- and the stoploss is Rs.2000/-, which is Rs.10/- higher than the entry price.", "Now, after initiating the short trade at Rs.1990/- let us now hypothetically imagine 2 scenarios.", "Scenario 1 \u2013 The stock price hits the target of Rs.1950/-", "In this case the stock has moved as per the expectation. The stock has fallen from Rs.1990/- to Rs.1950/-. Since the target has been achieved, the trader is expected to close the position. As we know in a short position the trader is required to \u2013", "In the whole process, the trader would have made a profit equal to the differential between the selling and buying price \u2013 i.e. Rs.40/- (1990 \u2013 1950).", "If you look at it from another angle (i.e. the usual buy first and sell later angle), this is as good as buying at Rs.1950 and selling at Rs.1990. It is just that the trader has reversed the transaction order by selling first and buying later.", "Scenario 2 \u2013 The stock price increases to Rs.2000/-", "In this case the stock has gone higher than the short price of Rs.1990/-. Recollect when you short, for you to profit the stock needs to decline in price. If the stock price goes up instead then there would be a loss. In this case the stock has gone up, hence there would be a loss \u2013", "In the whole process the trader would have suffered a loss of Rs.10/- (2000 \u2013 1990). If you look at it from the regular buy first sell later angle \u2013 this transaction is as good as buying at Rs.2000/- and selling at Rs.1990/ , and again if we reverse the order it would be sell first and buy later.", "Hopefully the above two scenarios should have convinced you about the fact that, when you short you make money when the price goes down and you lose when the price increases.", "Shorting in the spot market has one restriction \u2013 it strictly has to be done on an intraday basis. Meaning you can initiate the short trade anytime during the day, but you will have to buy back the shares (square off) by end of the day before the market closes. You cannot carry forward the short position for multiple days. To understand why shorting in the spot market is strictly an intraday affair we need to understand how the exchange treats the short position.", "When you short in the spot market, you obviously sell first. The moment you sell a stock, the backend process would alert the exchange that you have sold a particular stock. The exchange does not differentiate between a regular selling of stock (from DEMAT account) and a short sale. From their perspective they are of the opinion that you have sold the shares which would obligate you to deliver the same. In order to do so, you need to keep the shares ready in your DEMAT account by next day. However the exchange would know about your obligation only after the market closes and not during the market hours.", "Keep the above discussion in the back of your mind. Now for a moment let us assume you have shorted a stock and hope to benefit from the price decline. After you short, the price has not declined as expected and hence you decide to wait for another day. However at the end of the day, exchange would figure out that you have sold shares during the day, hence you would be required to keep these shares ready for delivery. However you do not have these shares for meeting your delivery obligation. This means you will default against your obligation; hence there would be a hefty penalty for this default. This situation is also referred to as \u201cShort Delivery\u201d.", "Under a short delivery situation, the exchange would take up the issue and settle it in the auction market. I would encourage you to read this article\u00a0on Z-Connect which beautifully explains the auction market procedures and how penalty is imposed on the client defaulting on delivery obligation. A piece of advice here, never get into the \u2018short delivery\u2019 situation, always make sure you close your short trade before the market close, else the penalty could be as high as 20% above your short price.", "Also, this leads us to an important thought \u2013 the exchange anyway checks for the obligations after the market closes. Hence before the exchange can run the \u2018obligation check\u2019 if one were to cover the short position (by squaring off) then there would be no obligation at all by end of the day. Hence for this reason, shorting in spot market has to be done strictly as an intraday trade without actually carrying forward the delivery obligation.", "So does that mean all short positions have to be closed within the day? Not really. A short position created in the futures market can be carried forward overnight.", "Shorting a stock in the futures segment has no restrictions like shorting the stock in the spot market. In fact this is one of the main reasons why trading in futures is so popular. Remember the \u2018futures\u2019 is a derivative instrument that just mimics the movement of its respective underlying. So if the underlying value is going down, so would the futures. This means if you are bearish about a stock then you can initiate a short position on its futures and hold on to the position overnight.", "Similar to depositing a margin while initiating a long position, the short position also would require a margin deposit. The margins are similar for both the long and short positions and they do not really change.", "To help you understand the \u2018Mark to Market\u2019 (M2M) perspective when you short futures, let us take up the following example. Imagine you have shorted HCL Technologies Limited at Rs.1990/-. The lot size is 125. The table below shows the stock price movement over the next few days and the respective M2M \u2013", "The two lines marked in red highlights the fact that they are loss making days. To get the overall profitability of the trade we could just add up all the M2M values \u2013", "+ 1000 + 875 \u2013 625 \u2013 1125 + 2375 + 625", "= Rs.3125/-", "Alternatively we could look at it as \u2013", "(Selling Price \u2013 Buying price) * Lot Size", "= (1990 \u2013 1965) * 125", "= 25*125", "=Rs.3125/-", "So, shorting futures is very similar to initiating a long futures position, except that when you short you profit only if the price declines. Besides this, the margin requirement and the M2M calculation remains the same.", "Shorting is a very integral part of active trading. I would suggest you get as comfortable with initiating a short trade as you would with a long trade.", "Key takeaways from this chapter", "sir,sorry,couldnt resist asking,is thereany value of technicals in OPTIONS i think its legal gambling? clarify", "If you are attempting something without knowledge then of course its gambling :). Technical do play a role in options, will talk more about it when we take up the module on Options.", "Nice Article, thanks . One correction (ref sec :Shorting in the Futures Market) \u2013 M2M is \u201cMark to Market\u201d not \u201cMarket to Market\u201d", "Thanks so much for pointing this out, must have been a typo. Made the correction.", "Hi,\nI want to know if short in Future market and carry it forward multiple days, do we not get Margin ?\nI see there are only 2 order type \u2013 MIS & NRML. MIS clearly says with Margin but intraday squareoff.", "NRML \u2013 we can carry for multiple days but does this not provide Margin?", "For NRML, you need to pay full margin amount. Check the margin details here \u2013 https://zerodha.com/margin-calculator/Futures/", "Dear sir u are doing great job.pls explain me how Arbl shareholders equity is 1059 cr for 2013 instead of 10598 cr.pls reply sir.", "This is query related to Fundamental Analysis. Have answered the same here \u2013 http://zerodha.com/varsity/chapter/understanding-pl-statement-part2/", "Hi Karthik, when will the Options Theory & Options Strategy modules be put up? Waiting for the same since ages! \ud83d\ude42", "In due time \ud83d\ude42 We are eager to start options as well\u2026but before that we need to wrap up Futures! Maybe in another 10 days time.", "Dear sir u are doing great job.pls explain me how Arbl shareholders equity is 1059 cr for 2013 instead of 10598 cr.pls reply sir.pls explain about this matter", "great sir\u2026\u2026 \ud83d\ude42", "Karthik,", "I don\u2019t check my stocks as much as I check the updates to see if a new chapter has come along .. when is the next one coming? \ud83d\ude00", "Lol \ud83d\ude42 We hope we can live up to the expectation! Next one due in a day or 2! We are onward to warping up the futures module now.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2015/02/M4-Ch8-title1.jpg", "https://secure.gravatar.com/avatar/c3ac3f2dc2d40a5f464c533a9dc822e7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2c795e9785fb576d6a7d9513843b7211?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/cce5e597e54f06c8b388475ac687aab2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a26b367e24a1bc04223cd5d873793d25?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d9605e463b9bc25cbaf3ee36ac959bb9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a26b367e24a1bc04223cd5d873793d25?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/8dd81ecf06bb1f5636f5dbbb06dd1525?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b4782d5c5a743d32ab4839b96422cbd3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<td>Stock</td>\n<td>HCL Technologies</td>\n</tr>\n<tr>\n<td>Trade Type</td>\n<td>Short (sell first and buy later)</td>\n</tr>\n<tr>\n<td>Trade Type</td>\n<td>Short (sell first and buy later)</td>\n</tr>\n<tr>\n<td>Trade Duration</td>\n<td>Intra day</td>\n</tr>\n<tr>\n<td>Short Price</td>\n<td>Rs.1990/-</td>\n</tr>\n<tr>\n<td>Number of shares</td>\n<td>50</td>\n</tr>\n<tr>\n<td>Target Price</td>\n<td>Rs.1950/-</td>\n</tr>\n<tr>\n<td>% Profit Expected</td>\n<td>2.0%</td>\n</tr>\n<tr>\n<td>Stoploss</td>\n<td>Rs.2000/-</td>\n</tr>\n<tr>\n<td>Risk</td>\n<td>Rs.10/-</td>\n</tr>\n<tr>\n<td>Reward</td>\n<td>Rs.40/-</td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<th>Day</th>\n<th>Ref price for M2M</th>\n<th>Closing Price</th>\n<th>P&amp;L for the day</th>\n</tr>\n<tr>\n<td>01 \u2013 (Initiate short)</td>\n<td>1990</td>\n<td>1982</td>\n<td>125 x 8 = 1000</td>\n</tr>\n<tr>\n<td>02</td>\n<td>1982</td>\n<td>1975</td>\n<td>125 x 7 + 875</td>\n</tr>\n<tr style=\"color: red;\">\n<td>03</td>\n<td>1975</td>\n<td>1980</td>\n<td>125 x 5 = 625</td>\n</tr>\n<tr style=\"color: red;\">\n<td>04</td>\n<td>1980</td>\n<td>1989</td>\n<td>125 x 9 = 1125</td>\n</tr>\n<tr>\n<td>05</td>\n<td>1989</td>\n<td>1970</td>\n<td>125 x 19 = 2375</td>\n</tr>\n<tr>\n<td>06 \u2013 (Square off)</td>\n<td>1970</td>\n<td>1965</td>\n<td>125 x 5 = 625</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "12. The Long & Short Strangle", "text": ["If you have understood the straddle, then understanding the \u2018Strangle\u2019 is quite straightforward. For all practical purposes, the thought process behind the straddle and strangle is quite similar. Strangle is an improvisation over the straddle, mainly to reduce the cost of implementation. Let me explain this further.", "Consider this \u2013 Nifty is trading at 5921, which would make 5900 the ATM strike. If you were to set up the long straddle here, you would be required to buy the 5900 CE and 5900 PE. The premiums for both these options are 66 and 57 respectively.", "Net cash outlay = 66 + 57 = 123", "Upper breakeven = 5921+123 = 6044", "Lower breakeven = 5921 \u2013 123 = 5798", "Therefore to set up a straddle, you spend 123 and the breakeven on either side is 2.07% away.\u00a0 As you know the straddle is delta neutral, meaning the strategy is insulated to the directional movement of the market. The idea here is that you know that the market will move to a large extent, but the direction is unknown.", "Consider this \u2013 from your research you know that the market will move (direction unknown) hence you have set up the straddle. However the straddle requires you to make an upfront payment of 123.", "How would it be if you were to set up a market neutral strategy \u2013 similar to the straddle, but at a much lower cost?", "Well, the \u2018Strangle\u2019 does just that.", "", "The strangle is an improvisation over the straddle. The improvisation mainly helps in terms of reduction of the strategy cost, however as a tradeoff the points required to breakeven increases.", "In a straddle you are required to buy call and put options of the ATM strike. However the strangle requires you to buy OTM call and put options. Remember when compared to the ATM strike, the OTM will always trade cheap, therefore this implies setting up a strangle is cheaper than setting up a straddle.", "Let\u2019s take an example to explain this better \u2013", "Nifty is trading at 7921, to set up a strangle we need to buy OTM Call and Put options. Do note, both the options should belong to the same expiry and same underlying. Also the execution should happen in the same ratio (missed this point while discussing straddle).", "Same ratio here means \u2013 one should buy the same number of call option as that of put option. For instance it can be 1:1 ratio meaning 1 lot of call, 1 lot of put option. Or it can be 5:5, meaning buy 5 lots of call and 5 lots of put option. Something like 2:3 is not considered strangle (or straddle) as in this case you would be buying 2 lots of call options and 3 lots of put options.", "Going back to the example, considering Nifty is at 7921, we need to buy OTM Call and Put options. I\u2019d prefer to buy strikes which are 200 points either way (note, there is no particular reason for choosing strikes 200 points away). So this would mean I would buy 7700 Put option and 8100 Call option. These options are trading at 28 and 32 respectively.", "The combined premium paid to execute the \u2018strangle\u2019 is 60. Let\u2019s figure out how the strategies behave under various scenarios. I\u2019ll keep this discussion brief as I do believe you are now comfortable accessing the P&L across various market scenarios.", "Scenario 1 \u2013 Market expires at 7500 (much below the PE strike)", "At 7500, the premium paid for the call option i.e. 32 will go worthless. However the put option will have an intrinsic value of 200 points. The premium paid for the Put option is 28, hence the total profit from the put option will be 200 \u2013 28 = +172", "We can further deduct for the premium paid for call option i.e. 32 from the profits of Put option and arrive at the overall profitability i.e. 172 \u2013 32 = +140", "Scenario 2 \u2013 Market expires at 7640 (lower breakeven)", "At 7640, the 7700 put option will have an intrinsic value of 60. The put option\u2019s intrinsic value offsets the combined premium paid towards both the call and put option i.e. 32+28 = 60. Hence at 7640, the strangle neither makes money nor losses money.", "Scenario 3 \u2013 Market expires at 7700 (at PE strike)", "At 7700, both the call and put options would expire worthless, hence we would lose the entire premium paid i.e. 32 + 28 = 60. Do note, this also happens to be the maximum loss the strategy would suffer.", "Scenario 4 \u2013 Market expires at 7900, 8100 (ATM and CE strike respectively)", "Both the options expire worthless at 7900 and 8100. Hence we would lose the entire premium paid i.e. 60.", "Scenarios 5\u00a0\u2013 Market expires at 8160 (upper breakeven)", "At 8160, the 8100 Call option has an intrinsic value of 60, the gains in the call option would offset the loss incurred against the premium paid towards the call and put options.", "Scenarios 6\u00a0\u2013 Market expires at 8300 (much higher than the CE strike)", "Clearly at 8300, the 8100 call option would have an intrinsic value of 200 points; therefore the option would make 200 points. After adjusting for the combined premium paid of 60 points, we would be left with 140 points profit. Notice the symmetry of payoff above the upper and below the lower breakeven points.", "Here is a table which contains various other market expiry scenarios and the eventual payoff at these expiry levels \u2013", "", "We can plot the strategy payoff to visualize the payoff diagram of the strangle \u2013", "", "We can generalize a few things about the \u2018Strangle\u2019 \u2013", "So as long as the market moves (irrespective of the direction) the profits are expected to follow.", "Both straddles and strangles are similar strategies, therefore the Greeks have a similar effect on strangle and straddles.", "Since we are dealing with OTM options (remember we chose strikes that are equidistant from ATM), the delta of both CE and PE would be around 0.3, or lesser. We could add the deltas of each option and get a sense of how the overall position deltas behave.", "Of course, I\u2019ve just assumed 0.3 for both the options for convenience; however both the deltas could be slightly different, hence we could not be delta neutral in a strict sense. But then the deltas will certainly not be too high such that it renders a directional bias on the strategy. Anyway, the combined delta indicates that the strategy is directional neutral.", "The volatility has similar effect on both straddles and strangles. I\u2019d suggest you refer Chapter 10, section 10.3\u00a0to get a sense of how the volatility impacts the strangles.", "To summarize the effect of Greeks on strangles \u2013", "I suppose you understand why long strangles have to be set up around major market events; we have discussed this point earlier as well. If you are confused, I\u2019d request you to read Chapter 10.", "The execution of a short strangle is the exact opposite of the long strangle. One needs to sell OTM Call and Put options which are equidistant from the ATM strike. In fact you would short the \u2018strangle\u2019 for the exact opposite reasons as to why you go long strangle. I will skip discussing the different expiry scenarios as I assume you are fairly comfortable with establishing the payoff by now.", "I\u2019ve used the same strikes (the one used in long strangle example) for the short strangle example. Instead of buying these options, you would sell these OTM options to set up a short strangle. Here is the payoff table of the short strangle \u2013", "", "As you can notice, the strategy results in a loss as and when the market moves in any particular direction. However the strategy remains profitable between the lower and upper breakeven points. Recall \u2013", "In other words you get to take home 60 points as long as the market stays within 7640 and 8160. In my opinion this is a fantastic proposition. More often than not market stays within certain trading ranges and therefore the market presents such beautiful trading opportunities.", "So here is something for you to think about \u2013 identify stocks which are in a trading range, typically stocks in a trading range form double/triple tops and bottom. Setup the \u2018strangle\u2019 by writing strikes which are outside the upper and lower range. When you write strangles in this backdrop make sure you watch closely for breakouts or breakdowns.", "I remember setting up this trade over and over again in Reliance couple of years ago \u2013 Reliance was stuck between 850 and 1000 for the longest time.", "Anyway, here is the payoff graph of the short strangle \u2013", "", "As you can notice \u2013", "The breakeven point calculation is the same as the breakeven points of a long strangle, which we have discussed earlier.", "Download Long Short Strangle Excel Sheet", "Sir,", "Can you kindly inform some more stocks which are trading range bound of 200 points that are suiatable for short strangle . Also can I take into account NIFTY and Bank NIFTY index. Kindly reply. Regards,\nR V N Sastry", "Yes, you can apply short strangle to indices. Btw, I\u2019ve not checked for stock in this range recently, so I\u2019m afraid I cannot be of much help here.", "To know about option trading in indepth manner ie., where to buy and sell", "Start from here \u2013 https://zerodha.com/varsity/module/option-theory/", "Sir, Please inform me what is the probable range of IV and DELTA range to execute short strangle at a distance of 200 points from ATM strike . Can we also take into account India VIX if so at what range please. Thanks,sastry", "1) The delta should approximately add up to zero\n2) The IVs should be low, for example if you are trading on Nifty, look for IV values sub 18-17%\n3) India ViX can be used for Nifty", "What should be the probable value of India VIX?", "There is no probable value, Sumit \ud83d\ude42", "Sir,\nMy doubt is , if I enter into a short strangle strategy of NIFTY INDEX at distance of 200 points from ATM strike of NIFTY with Delta Neutral when the IV of Nifty is in a range of 17-18%, and latter if the IV of NIFTY increases and the premiums of call and Put will be increased . The idea of selling call and put options at a premium of High and buying the same at premium of low and thereby gaining money. If I am wrong please correct me with your advice. whether the Iv range of 17-18% is sufficient or it should be higher to enter into short strangle trade. This is my doubt as well as my confusion. I earnestly request you to be sympothyse towards me and may be put forthing my known and unknown knowledge before you for which I beg an appology openly for your valuable advice for my guidance in future. Thanking you, Kind Regards, R V N Sastry", "Mr.Shastry, you are embarrassing me by saying such things. This forum is meant to discuss and ask questions, only then everyone here will learn and evolve. In fact I\u2019ve learnt so many things here myself.", "Anyway, the IV of 17-18% is great if you want to set up a \u201clong Strangle/straddle\u201d\u2026and you should also expect the IVs to increase (within the expiry period) after you set up the long position. However if you are looking to short a Strangle/straddle then the IVs should be high and should be expected to cool off before expiry.", "Since Strangle/straddle are delta neutral, you need not worry about direction\u2026your call should be on the volatility.", "Dear sir,\nThank you very much for your friendliness for which I am always grateful. please advise me at what High Range of Nifty Index IV, can I enter into a short strangle with Delta Neutrai strategy. Is above 19% Iv is good.Thanking you, Regards, R V N Sastry", "For Nifty I\u2019d consider sub 17% as low and upwards of 28% as high.", "Hello Sir,\nI heard of adjustment point in case of short strangles. It like: the delta will not remain neutral if the index move by some point in any direction so to make it again neutral some positions are closed and new positions are created for 1 leg. This was not very clear to me and second thing was it consumes lots of brokerage. Can give your advice on this please.", "Thanks\nR P HANS", "Very true. When you initiate a delta neutral, the position is delta neutral at the point of taking the position\u2026but when markets move in either direction the position is no longer delta neutral. To keep it delta neutral you will have to hedge the delta to keep it delta neutral always. This is called \u2018Delta Hedging\u2019. You can do delta hedging by employing futures. Yes, delta hedging requires constant tweeks to the position and therefore attracts higher brokerage charges. However if you are with Zeordha, this should not matter I guess \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2016/04/M6-C12-cartoon.png", "http://zerodha.com/varsity/wp-content/uploads/2016/04/Image-1_payoff-table.png", "http://zerodha.com/varsity/wp-content/uploads/2016/04/Image-2_graph.png", "http://zerodha.com/varsity/wp-content/uploads/2016/04/Image-3_payoff.png", "http://zerodha.com/varsity/wp-content/uploads/2016/04/Image-4_graph.png", "https://secure.gravatar.com/avatar/9c25a658c660a2f912a1f36c1fbb948f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6794f497f8a7a955c4d07e043536be7f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9c25a658c660a2f912a1f36c1fbb948f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1c4d13a413d302c277409668dbdda96b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9c25a658c660a2f912a1f36c1fbb948f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9c25a658c660a2f912a1f36c1fbb948f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/225a008f9e662f2405e68f707fb3a988?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "10. The Financial Ratio Analysis (Part 2)", "text": ["We touched upon the topic of financial leverage while discussing Return on Equity and the DuPont analysis. The use of leverage (debt) is like a double edged sword.", "Well managed companies seek debt if they foresee a situation where, they can deploy the debt funds in an environment which generates a higher return in contrast to the interest payments the company has to makes to service its debt. Do recollect a judicious use of debt to finance assets also increases the return on equity.", "However if a company takes on too much debt, then the interest paid to service the debt eats into the profit share of the shareholders. Hence there is a very thin line that separates the good and the bad debt. Leverage ratios mainly deal with the overall extent of the company\u2019s debt, and help us understand the company\u2019s financial leverage better.", "We will be looking into the following leverage ratios:", "So far we have been using Amara Raja Batteries Limited (ARBL) as an example, however to understand leverage ratios, we will look into a company that has a sizable debt on its balance sheet. I have chosen Jain Irrigation Systems Limited (JISL), I would encourage you calculate the ratios for a company of your choice.", "Interest Coverage Ratio:\nThe interest coverage ratio is also referred to as debt service ratio or the debt service coverage ratio. The interest coverage ratio helps us understand how much the company is earning relative to the interest burden of the company. This ratio helps us interpret how easily a company can pay its interest payments. For example, if the company has an interest burden of Rs.100 versus an income of Rs.400, then we clearly know that the company has sufficient funds to service its debt. However a low interest coverage ratio could mean a higher debt burden and a greater possibility of bankruptcy or default.", "The formula to calculate the interest coverage ratio:\n[Earnings before Interest and Tax / Interest Payment]", "The \u2018Earnings before Interest and Tax\u2019 (EBIT) is:\nEBITDA \u2013 Depreciation & Amortization", "Let us apply this ratio on Jain Irrigation Limited. Here is the snapshot of Jain Irrigation\u2019s P&L statement for the FY 14, I have highlighted the Finance costs in red:", "", "We know EBITDA = [Revenue \u2013 \u00a0Expenses]", "To calculate the expenses, we exclude the Finance cost (Rs.467.64Crs) and Depreciation & Amortization cost (Rs.204.54) from the total expenses of Rs.5730.34 Crs.", "Therefore EBITDA = Rs.5828.13 \u2013 5058.15 Crs\nEBITDA = Rs. 769.98 Crs", "We know EBIT = EBITDA \u2013 [Depreciation & Amortization]", "= Rs.769.98 \u2013 204.54", "= Rs. 565.44", "We know Finance Cost = Rs.467.64,", "Hence Interest coverage is:", "= 565.44/ 467.64\n= 1.209x", "The \u2018x\u2019 in the above number represents a multiple. Hence 1.209x should be read as 1.209 \u2018times\u2019.", "Interest coverage ratio of 1.209x suggests that for every Rupee of interest payment due, Jain Irrigation Limited is generating an EBIT of 1.209 times.", "Debt to Equity Ratio:\nThis is a fairly straightforward ratio. Both the variables required for this computation can be found in the Balance Sheet. It measures the amount of the total debt capital with respect to the total equity capital. A value of 1 on this ratio indicates an equal amount of debt and equity capital. Higher debt to equity (more than 1) indicates higher leverage and hence one needs to be careful. Lower than 1 indicates a relatively bigger equity base with respect to the debt.", "The formula to calculate Debt to Equity ratio is:\n[Total Debt/Total Equity]", "Please note, the total debt here includes both the short term debt and the long term debt.", "Here is JSIL\u2019s Balance Sheet, I have highlighted total equity, long term, and short term debt:", "", "Total debt = Long term borrowings + Short term borrowings\n= 1497.663 + 2188.915\n= Rs.3686.578Crs\nTotal Equity is Rs.2175.549 Crs", "Thus, Debt to Equity ratio will be computed as follows:\n= 3686.578 / 2175.549\n= 1.69", "Debt to Asset Ratio:\nThis ratio helps us understand the asset financing pattern of the company. It conveys to us how much of the total assets are financed through debt capital.", "The formula to calculate the same is:\nTotal Debt / Total Assets", "For JSIL, we know the total debt is Rs.3686.578Crs.\nFrom the Balance Sheet, we know the total assets as Rs.8204.447 Crs:", "", "Hence the Debt to Asset ratio is:\n=3686.578 / 8204.44\n= 0.449 or ~45%.", "This means roughly about 45% of the assets held by JSIL is financed through debt capital or creditors (and therefore 55% is financed by the owners). Needless to say, higher the percentage the more concerned the investor would be as it indicates higher leverage and risk.", "Financial Leverage Ratio\nWe briefly looked at the financial leverage ratio in the previous chapter, when we discussed about Return on Equity. The financial leverage ratio gives us an indication, to what extent the assets are supported by equity.", "The formula to calculate the Financial Leverage Ratio is:\nAverage Total Asset / Average Total Equity", "From JSIL\u2019s FY14 balance sheet, I know the average total assets is Rs.8012.615.The average total equity is Rs.2171.755. Hence the financial leverage ratio or simply the leverage ratio is:\n8012.615 / 2171.755\n= 3.68", "This means JSIL supports Rs.3.68 units of assets for every unit of equity. Do remember higher the number, higher is the company\u2019s leverage.", "Operating Ratios also called \u2018Activity ratios\u2019 or the \u2018Management ratios\u2019 indicate the efficiency of the company\u2019s operational activity. To some degree, the operating ratios reveal the management\u2019s efficiency as well. These ratios are called the Asset Management Ratios, as these ratios indicate the efficiency with which the assets of the company are utilized.", "", "Some of the popular Operating Ratios are:", "The above ratios combine data from both the P&L statement and Balance sheet. We will understand these ratios by calculating them for Amara Raja Batteries Limited.", "To get a true sense of how good or bad the operating ratios of a company are, one must compare the ratios with the company\u2019s peers /competitors or these ratios should be compared over the years for the same company.", "Fixed Assets Turnover\nThe ratio measures the extent of the revenue generated in comparison to its investment in fixed assets. It tells us how effectively the company uses its plant and equipment. Fixed assets include the property, plant and equipment. Higher the ratio, it means the company is effectively and efficiently managing its fixed assets.", "Fixed Assets Turnover = Operating Revenues / Total Average Asset", "The assets considered while calculating the fixed assets turnover should be net of accumulated depreciation, which is nothing but the net block of the company. It should also include the capital work in progress. Also, we take the average assets for reasons discussed in the previous chapter.", "From ARBL\u2019s FY14 Balance Sheet:", "", "= (767.864 + 461.847)/2\n= Rs.614.855 Crs\nWe know the operating revenue for FY14 is Rs.3436.7 Crs, hence the Fixed Asset Turnover ratio is:\n= 3436.7 / 614.85\n=5.59", "While evaluating this ratio, do keep in mind the stage the company is in. For a very well established company, the company may not be utilizing its cash to invest in fixed assets. However for a growing company, the company may invest in fixed assets and hence the fixed assets value may increase year on year. You can notice this in case of ARBL as well, for the FY13 the Fixed assets value is at Rs.461.8 Crs and for the FY14 the fixed asset value is at Rs.767.8 Crs.", "This ratio is mostly used by capital intensive industries to analyze how effectively the fixed assets of the company are used.", "Working Capital Turnover\nWorking capital refers to the capital required by the firm to run its day to day operations. To run the day to day operations, the company needs certain type of assets. Typically such assets are \u2013 inventories, receivables, cash etc. If you realize these are current assets. A well managed company finances the current assets by current liabilities. The difference between the current assets and current liabilities gives us the working capital of the company.", "Working Capital = Current Assets \u2013 Current Liabilities", "If the working capital is a positive number, it implies that the company has working capital surplus and can easily manage its day to day operations. However if the working capital is negative, it means the company has a working capital deficit. Usually if the company has a working capital deficit, they seek a working capital loan from their bankers.", "The concept of \u2018Working Capital Management\u2019 in itself is a huge topic in Corporate Finance. It includes inventory management, cash management, debtor\u2019s management etc. The company\u2019s CFO (Chief Financial Officer) strives to manage the company\u2019s working capital efficiently. Of course, we will not get into this topic as we will digress from our main topic.", "The working capital turnover ratio is also referred to as Net sales to working capital. The working capital turnover indicates how much revenue the company generates for every unit of working capital. Suppose the ratio is 4, then it indicates that the company generates Rs.4 in revenue for every Rs.1 of working capital. Needless to say, higher the number, better it is. Also, do remember all ratios should be compared with its peers/competitors in the same industry and with the company\u2019s past and planned ratio to get a deeper insight of its performance.", "The formula to calculate the Working Capital Turnover:\nWorking Capital Turnover = [Revenue / Average Working Capital]", "Let us implement the same for Amara Raja Batteries Limited. To begin with, we need to calculate the working capital for the FY13 and the FY14 and then find out the average. Here is the snapshot of ARBL\u2019s Balance sheet, I have highlighted the current assets (red) and current liabilities (green) for both the years:", "", "The average working capital for the two financial years can be calculated as follows:", "We know the revenue from operations for ARBL is Rs.3437 Crs. Hence the working capital turnover ratio is:\n= 3437 / 672.78\n= 5.11 times", "The number indicates that for every Rs.1 of working capital, the company is generating Rs.5.11 in terms of revenue. Higher the working capital turnover ratio the better it is, as it indicates the company is generating better sales in comparison with the money it uses to fund the sales.", "Total Assets Turnover\nThis is a very straight forward ratio. It indicates the company\u2019s capability to generate revenues with the given amount of assets. Here the assets include both the fixed assets as well as current assets. A higher total asset turnover ratio compared to its historical data and competitor data means the company is using its assets well to generate more sales.", "Total Asset Turnover = Operating Revenue / Average Total Assets", "The average total assets for ARBL is as follws \u2013", "Total Assets for FY 13 \u2013 \u00a0Rs.1770.5 Crs and Total Assets for FY 14 \u2013 2139.4 Crs. Hence the average assets would be Rs. 1954.95 Crs.", "Operating revenue (FY 14) is Rs. 3437 Crs. Hence Total Asset Turnover is:\n= 3437 / 1954.95\n= 1.75 times", "Inventory Turnover Ratio\nInventory refers to the finished goods that a company maintains in its store or showroom with an expectation of selling the finished goods to prospective clients. Typically, the company besides keeping the goods in the store would also keep some additional units of finished goods in its warehouse.", "If a company is selling popular products, then the goods in the inventory gets cleared rapidly, and the company has to replenish the inventory time and again. This is called the \u2018Inventory turnover\u2019.", "For example think about a bakery selling hot bread. If the bakery is popular, the baker probably knows how many pounds of bread he is likely to sell on any given day. For example, he could sell 200 pounds of bread daily. This means he has to maintain an inventory of 200 pounds of bread every day. So, in this case the rate of replenishing the inventory and the inventory turnover is quite high.", "This may not be true for every business. For instance, think of a car manufacturer. Obviously selling cars is not as easy as selling bread. If the manufacturer produces 50 cars, he may have to wait for sometime before he sells these cars. Assume, to sell 50 cars (his inventory capacity) he will need 3 months. This means, every 3 months he turns over his inventory. Hence in a year he turns over his inventory 4 times.", "Finally, if the product is really popular the inventory turnover would be high. This is exactly what the \u2018Inventory Turnover Ratio\u2019 indicates.", "The formula to calculate the ratio is:\nInventory Turnover = [Cost of Goods Sold / Average Inventory]", "Cost of goods sold is the cost involved in making the finished good. We can find this in the P&L Statement of the company. Let us implement this for ARBL.", "To evaluate the cost of goods sold, I need to look into the expense of the company, here is the extract of the same:", "", "Cost of materials consumed is Rs.2101.19 Crs and purchases of stock-in-trade is Rs.211.36 Crs. These line items are directly related to the cost of goods sold. Along with this I would also like to inspect \u2018Other Expenses\u2019 to identify any costs that are related to the cost of goods sold. Here is the extract of Note 24, which details \u2018Other Expenses\u2019.", "", "There are two expenses that are directly related to manufacturing i.e. Stores & spares consumed which is at \u00a0Rs.44.94 Crs and the Power & Fuel cost which is at Rs.92.25Crs.", "Hence the Cost of Goods Sold = Cost of materials consumed + Purchase of stock in trade + Stores & spares consumed + Power & Fuel\n= 2101.19 + 211.36 + 44.94 + 92.25\nCOGS= Rs.2449.74 Crs", "This takes care of the numerator. For the denominator, we just take the average inventory for the FY13 and FY14. From the balance sheet \u2013 Inventory for the FY13 is Rs.292.85 Crs and for the FY14 is Rs.335.00 Crs. The average works out to Rs.313.92 Crs", "The Inventory turnover ratio is:\n= 2449.74 / 313.92\n= 7.8 times\n~ 8.0 times a year", "This means Amara Raja Batteries Limited turns over its inventory 8 times in a year or once in every 1.5 months. Needless to say, to get a true sense of how good or bad this number is, one should compare it with its competitor\u2019s numbers.", "Inventory Number of days\nWhile the Inventory turnover ratio gives a sense of how many times the company\u00a0 \u2018replenishes\u2019 their inventory, the \u2018Inventory number of Days\u2019 gives a sense of how much time the company takes to convert its inventory into cash. Lesser the number of days, the better it is. A short inventory number of day\u2019s number implies, the company\u2019s products are fast moving. \u00a0The formula to calculate the inventory number of days is:", "Inventory Number of Days = 365 / Inventory Turnover", "The inventory number of days is usually calculated on a yearly basis. Hence in the formula above, 365 indicates the number of days in a year.", "Calculating this for ARBL:\n= 365 / 7.8\n= 46.79 days\n~ 47.0 days", "This means ARBL roughly takes about 47 days to convert its inventory into cash. Needless to say, the inventory number of days of a company should be compared with its competitors, to get a sense of how the company\u2019s products are moving.", "Now here is something for you to think about \u2013 What would you think about the following situation?", "On the face of it, the inventory management of this company looks good. A high inventory turnover ratio signifies that the company is replenishing its inventory quickly, which is excellent. Along with the high inventory turnover, a low inventory number of days indicate that the company is quickly able to convert its goods into cash. Again, this is a sign of great inventory management.", "However, what if the company has a great product (hence they are able to sell quickly) but a low production capacity? Even in this case the inventory turnover will be high and inventory days will be low. \u00a0But a low production capacity can be a bit worrisome as it raises many questions about the company\u2019s production:", "As you can see, if any of the points above is true, then a red flag is raised, hence investing in the company may not be advisable. To fully understand the production issues (if any), the fundamental analyst should read through the annual report (especially the management discussion & analysis report) from the beginning to the end.", "This means whenever you see impressive inventory numbers, always ensure to double check the production details as well.", "Accounts Receivable Turnover Ratio\nHaving understood the inventory turnover ratio, understanding the receivable turnover ratio should be quite easy. The receivable turnover ratio indicates how many times in a given period the company receives money/cash from its debtors and customers. Naturally a high number indicates that the company collects cash more frequently.", "The formula to calculate the same is:\nAccounts Receivable Turnover Ratio = Revenue / Average Receivables", "From the balance sheet we know,\nTrade Receivable for the FY13 : Rs.380.67 Crs\nTrade Receivable for the FY14 : Rs. 452.78 Crs\nAverage Receivable for the FY13 : Rs.416.72\nOperating Revenue for the FY14 : Rs.3437 Crs", "Hence the Receivable Turnover Ratio is:\n= 3437 / 416.72\n= 8.24 times a year\n~ 8.0 times", "This means ARBL receives cash from its customers roughly about 8.24 times a year or once every month and a half.", "Days Sales Outstanding (DSO) )/ Average Collection Period/ Day Sales in Receivables\nThe days sales outstanding ratio illustrates the average cash collection period i.e the time lag between billing and collection. This calculation shows the efficiency of the company\u2019s collection department. Quicker/faster the cash is collected from the creditors, faster the cash can be used for other activities. The formula to calculate the same is:", "Days Sales outstanding = 365 / Receivable Turnover Ratio", "Solving this for ARBL,\n= 365 / 8.24\n= 44.29 days", "This means ARBL takes about 45 days from the time it raises an invoice to the time it can collect its money against the invoice.", "Both Receivables Turnover and the DSO indicate the credit policy of the firm. A efficiently run company, should strike the right balance between the credit policy and the credit it extends to its customers.", "I was confused on why employee benefits were not counted in COGS. So, I googled COGS and found out this on investopedia", "\u201cThere are several ways to calculate COGS but one of the more basic ways is to start with the beginning inventory for the period and add the total amount of purchases made during the period, and then deducting the ending inventory. This calculation gives the total amount of inventory or, more specifically, the cost of this inventory, sold by the company during the period. Therefore, if a company starts with $10 million in inventory, makes $2 million in purchases and ends the period with $9 million in inventory, the company\u2019s cost of goods for the period would be $3 million ($10 million + $2 million \u2013 $9 million).\u201d", "So for Amaraja Batteries FY13-14, this would look like COGS = (3404+292 -335) = 3359 Crores.", "This reduces the GPM significantly. GPM = (3404-3359)/3404 = 1.3%", "I am sure I am reading something terribly wrong. Not sure what.", "This is the link where I found the alternate way to calculate COGS.\nhttp://www.investopedia.com/terms/c/cogs.asp", "I think I found my mistake. Investopedia is suggesting this formula: COGS = Last Year Inventory + Total Expenses \u2013 Current Inventory. For ARBL, FY 13-14 this formula is giving COGS = 292 + 2942 \u2013 335 = 2899 Crores. This implies GPM = 3403-E3)/3403 = 14%. Please note that moneycontrol.com also shows a GPM of 14% for ARBL for FY13-14 (http://www.moneycontrol.com/financials/amararajabatteries/ratios/ARB). Your calculation shows a GPM of 28% for ARBL for the same year. I am not sure who is right and who is wrong.", "Ajit \u2013 The GMP calculation is shown here \u2013 (http://zerodha.com/varsity/chapter/equity-research-part-1/). Calculation of COGS varies a bit from company to company. Also please dont rely on moneycontrol, I\u2019ve found errors multiple times. Suggest you try morningstar India website.", "For a general calculation can\u2019t we use the formula COGS = Current Total Expense + last year inventory \u2013 current inventory? I was hoping that this formula works. This would have saved me in looking into each item of expenses and figure out which will go into COGS.", "Thanks for your advice regarding moneycontrol. I will check out morningstar now. \u2014 Best regards", "Ajit \u2013 Maybe I need to explore this a bit deeper.. honestly I\u2019ve never used the formula Investopedia suggests i.e COGS = Current Total Expense + last year inventory \u2013 current inventory. In fact more often than not I end up using the one that I have mentioned in the chapter.", "Also on another note, the value that you calculate and the ones mentioned on sites like moneycontrol, morningstar, ET markets etc will hardly ever match point to point\u2026it will differ by few bps. Hence for this reason I always tend to treat these ratios as a ballpark.", "The difference were not small. You were speaking of the same ratio GPM in the range of 28% where the investopedia\u2019s formula was giving GPM in the range of 14%, unless I am misinterpreting the formula.", "I understand, like I said I have not used that formula for COGS. Need to dwell more on it. Will surely get back on it as it is learning for me as well.", "There is a typo in the calculation of Fixed Asset Turnover Ratio of ABRL. Since the operating revenue is 3437 and not 353.7, this ratio should be 5.5 and not 0.55.", "Thanks, making the correction now.", "Another typo I guess. Average asset of ABRL for FY2013-14 is 1954 and not 614. Therefore, the total asset turnover should be 1.7 and not 5.5. I hope I am not annoying you.", "Ajit, I rechecked the numbers. Rs.614 Crs seems to be the Average total assets for FY13 and FY14. Unless I\u2019m missing something very obvious !", "Total asset: FY14 = 2139.4, FY13 = 1770.5 Crores. Average = (2139.4 + 1770.5)/2 = 1954.95", "Ah got it \ud83d\ude42", "You are taking the sum total of both Current and Non current assets. However in \u2018Fixed Asset\u2019 Turnover ratio, the assets being refereed to is just \u2018Fixed Asset\u201d and not all the assets.", "No you did not \ud83d\ude42 The typo I am referring to is in the calculation of Total Asset Turnover ratio. You seem to have calculated Fixed Asset Turnover ratio again.", "My bad ! and I\u2019m quite embarrassed :). Thank you so much for pointing this out, I\u2019ve made the necessary changes.", "Thank you. I think I did not emphasize enough in the description about the whereabouts of the error. Anyway \u2026. could you please have these typo related comments deleted now? There purpose is over now.", "I guess the comments should be there, to constantly remind us to be more diligent while proof reading \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2014/11/M3-Ch10-title.jpg", "http://zerodha.com/varsity/wp-content/uploads/2014/11/M3-Ch10-chart1.jpg", "http://zerodha.com/varsity/wp-content/uploads/2014/11/M3-Ch10-chart2.jpg", "http://zerodha.com/varsity/wp-content/uploads/2014/11/M3-Ch10-chart3.jpg", "http://zerodha.com/varsity/wp-content/uploads/2014/11/M3-Ch10-title21.jpg", "http://zerodha.com/varsity/wp-content/uploads/2014/11/M3-Ch10-chart4.jpg", "http://zerodha.com/varsity/wp-content/uploads/2014/11/M3-Ch10-chart5.jpg", "http://zerodha.com/varsity/wp-content/uploads/2014/11/M3-Ch10-chart6.jpg", "http://zerodha.com/varsity/wp-content/uploads/2014/11/M3-Ch10-chart7.jpg", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2fa5083e5a8991ed4c099ad4f83aff02?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f51dcc05b862d6cf49b0c107d972027f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<td>Current Assets for the FY13</td>\n<td>Rs.1256.85</td>\n</tr>\n<tr>\n<td>Current Liabilities for the FY13</td>\n<td>Rs.576.19</td>\n</tr>\n<tr>\n<td><span style=\"background-color: #69c969;\">Working Capital for the FY13</span></td>\n<td><span style=\"background-color: #69c969;\">Rs.680.66</span></td>\n</tr>\n<tr>\n<td>Current Asset for the FY14</td>\n<td>Rs.1298.61</td>\n</tr>\n<tr>\n<td>Current Liability for the FY14</td>\n<td>Rs.633.70</td>\n</tr>\n<tr>\n<td><span style=\"background-color: #69c969;\">Working Capital for the FY14</span></td>\n<td><span style=\"background-color: #69c969;\">Rs.664.91</span></td>\n</tr>\n<tr>\n<td><span style=\"background-color: #eacf32;\">Average Working Capital</span></td>\n<td><span style=\"background-color: #eacf32;\">Rs.672.78</span></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "21. Greek Calculator", "text": ["So far in this module we have discussed all the important Option Greeks and their applications. It is now time to understand how to calculate these Greeks using the Black & Scholes (BS) Options pricing calculator. The BS options pricing calculator is based on the Black and Scholes options pricing model, which was first published by Fisher Black and Myron Scholes (hence the name Black & Scholes) in 1973, however Robert C Merton developed the model and brought in a full mathematical understanding to the pricing formula.", "This particular pricing model is highly revered in the financial market, so much so that both Robert C Merton and Myron Scholes received the 1997 Noble Prize for Economic Sciences. The B&S options pricing model involves mathematical concepts such as partial differential equations, normal distribution, stochastic processes etc. The objective in this module is not to take you through the math in B&S model; in fact you could look at this video from Khan Academy for the same \u2013", "My objective is to take you through the practical application of the Black & Scholes options pricing formula.", "Think of the BS calculator as a black box, which takes in a bunch of inputs and gives out a bunch of outputs. The inputs required are mostly market data of the options contract and the outputs are the Option Greeks.", "The framework for the pricing model works like this:", "The illustration below gives the schema of a typical options calculator:", "", "On the input side:", "Spot price \u2013 This is the spot price at which the underlying is trading. Note we can even replace the spot price with the futures price. We use the futures price when the option contract is based on futures as its underlying. Usually the commodity and in some cases the currency options are based on futures. For equity option contacts always use the spot price.", "Interest Rate \u2013 This is risk free rate prevailing in the economy. Use the RBI 91 day Treasury bill rate for this purpose. You can get the rate from the RBI website, RBI has made it available on their landing page, as highlighted below.", "", "As of September 2015 the prevailing rate is 7.4769% per annum.", "Dividend \u2013 This is the dividend per share expected in the stock, provided the stock goes ex dividend within the expiry period. For example, assume today is 11th September and you wish to calculate the Option Greeks for the ICICI Bank option contract. Assume ICICI Bank is going ex dividend on 18th Sept with a dividend of Rs.4. The expiry for the September series is 24th September 2015, hence the dividend would be Rs.4. in this case.", "Number of days to expiry \u2013 This the number of calendar days left to expiry", "Volatility \u2013 This is where you need to enter the option\u2019s implied volatility. You can always look at the option chain provided by NSE to extract the implied volatility data. For example, here is the snap shot of ICICI Bank\u2019s 280 CE, and as we can see, the IV for this contract is 43.55%.", "", "Let us use this information to calculate the option Greeks for ICICI 280 CE.", "Once we have this information, we need to feed this into a standard Black & Scholes Options calculator. We do have this calculator on our website \u2013 https://zerodha.com/tools/black-scholes , you can use the same to calculate the Greeks.", "", "Once you enter the relevant data in the calculator and click on \u2018calculate\u2019, the calculator displays the Option Greeks \u2013", "", "On the output side, notice the following \u2013", "I\u2019m assuming that by now you are fairly familiar with what each of the Greeks convey, and the application of the same.", "One last note on option calculators \u2013 the option calculator is mainly used to calculate the Option Greeks and the theoretical option price. Sometimes small difference arises owing to variations in input assumptions. Hence for this reason, it is good to have room for the inevitable modeling errors. However by and large, the option calculator is fairly accurate.", "While we are discussing the topic on Option pricing, it perhaps makes sense to discuss \u00a0\u2018Put Call Parity\u2019 (PCP). PCP is a simple mathematical equation which states \u2013", "Put Value + Spot Price = Present value of strike (invested to maturity) + Call Value.", "The equation above holds true assuming \u2013", "For people who are not familiar with the concept of Present value, I would suggest you read through this \u2013 http://zerodha.com/varsity/chapter/dcf-primer/ (section 14.3).", "Assuming you are familiar with the concept of Present value, we can restate the above equation as \u2013", "P + S = Ke(-rt) + C", "Where, Ke(-rt) represents the present value of strike, with K being the strike itself. In mathematical terms, strike K is getting discounted continuously at rate of \u2018r\u2019 over time\u2018t\u2019", "Also, do realize if you hold the present value of the strike and hold the same to maturity, you will get the value of strike itself, hence the above can be further restated as \u2013", "Put Option + Spot Price = Strike + Call options", "So why should the equality hold? To help you understand this better think about two traders, Trader A and Trader B.", "This being the case, as per the PCP the amount of money both traders make (assuming they hold till expiry) should be the same. Let us put some numbers to evaluate the equation \u2013", "Underlying = Infosys\nStrike = 1200\nSpot = 1200", "Trader A holds = 1200 PE + 1 share of Infy at 1200\nTrader B holds = 1200 CE + Cash equivalent to strike i.e 1200", "Assume upon expiry Infosys expires at 1100, what do you think happens?", "Trader A\u2019s Put option becomes profitable and he makes Rs.100 however he loses 100 on the stock that he holds, hence his net pay off is 100 + 1100 = 1200.", "Trader B\u2019s Call option becomes worthless, hence the option\u2019s value goes to 0, however he has cash equivalent to 1200, hence his account value is 0 + 1200 = 1200.", "Let\u2019s take another example, assume Infy hits 1350 upon expiry, lets see what happens to the accounts of both the trader\u2019s.", "Trader A = Put goes to zero, stock goes to 1350/-\nTrader B = Call value goes to 150 + 1200 in cash = 1350/-", "So clearly, irrespective of where the stock expires, the equations hold true, meaning both trader A and trader B end up making the same amount of money.", "All good, but how would you use the PCP to develop a trading strategy? Well, for that you will have to wait for the next module which is dedicated to \u201cOption Strategies\u201d J. Before we start the next module on Option Strategies, we have 2 more chapters to go in this module.", "When can we expect Option Strategies Module..?", "Very soon, another 2 chapters in the current module and we move to Options Strategies.", "sir,what happens to overnight futures position in case of stock split like adani ent,idfc today", "The F&O positions get adjusted accordingly, check this \u2013 http://www.nseindia.com/content/circulars/FAOP30855.pdf", "I notice that the delta of 280 PE is -0.873. But, only deep ITM have such high deltas, right?", "Where did you get this value from Ajay?. Delta should be less than -0.5.", "Think i got my answer. By the way, eagerly waiting for the next chapter. \ud83d\ude42", "Next chapter (22) will be uploaded next week Ajay.", "sir,why should we use calender days in calculating theoratical option value,when trading days excluded whats use,enlighten me", "Well, the number of days is treated on something called as the \u2018day count convention\u2019\u2026NSE adopts a day count convention called as \u2018actual by actual\u2019 according to which you need to take 365 days.", "Hi In the black scholes option calculator the input for IV is one but the theoretical prices for both put and call are computed based on that one IV INPUT Whereas in reality the IV puts and call for the same strike differ, so using which IV can be better? Can we use the VIX % instead?", "Vix is a good approximation for Nifty. For stock specific IV check the stock\u2019s option chain for IV.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2015/10/M5-C21-Illustration.png", "http://zerodha.com/varsity/wp-content/uploads/2015/09/Image-1_91Tbill-1024x511.png", "http://zerodha.com/varsity/wp-content/uploads/2015/09/Image-2_IV.png", "http://zerodha.com/varsity/wp-content/uploads/2015/09/Image-3_BS.png", "http://zerodha.com/varsity/wp-content/uploads/2015/09/Image-4_Greeks-1024x353.png", "https://secure.gravatar.com/avatar/39c7ea05bae70f923eeaa55852cba08b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c3ac3f2dc2d40a5f464c533a9dc822e7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9110f8969ba35d34d2cc448f0288d5c2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9110f8969ba35d34d2cc448f0288d5c2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c3ac3f2dc2d40a5f464c533a9dc822e7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e1517a04d2bb1cb1136bd7777fc8e964?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "17. Volatility & Normal Distribution", "text": ["In the earlier chapter we had this discussion about the range within which Nifty is likely to trade given that we know its annualized volatility. We arrived at an upper and lower end range for Nifty and even concluded that Nifty is likely to trade within the calculated range.", "Fair enough, but how sure are we about this? Is there a possibility that Nifty would trade outside this range? If yes, what is the probability that it will trade outside the range and what is the probability that Nifty will trade within the range? If there is an outside range, then what are its values?", "Finding answers to these questions are very important for several reasons. If not for anything it will lay down a very basic foundation to a quantitative approach to markets, which is very different from the regular fundamental and technical analysis thought process.", "So let us dig a bit deeper and get our answers.", "The discussion we are about to have is extremely important and highly relevant to the topic at hand, and of course very interesting as well.", "Have a look at the image below \u2013", "", "What you see is called a \u2018Galton Board\u2019. A Galton Board has pins stuck to a board. Collecting bins are placed right below these pins.", "The idea is to drop a small ball from above the pins. Moment you drop the ball, it encounters the first pin after which the ball can either turn left or turn right before it encounters another pin. The same procedure repeats until the ball trickles down and falls into one of the bins below.", "Do note, once you drop the ball from top, you cannot do anything to artificially control the path that the ball takes before it finally rests in one of the bins. The path that the ball takes is completely natural and is not predefined or controlled. For this particular reason, the path that the ball takes is called the \u2018Random Walk\u2019.", "Now, can you imagine what would happen if you were to drop several such balls one after the other? Obviously each ball will take a random walk before it falls into one of the bins. However what do you think about the distribution of these balls in the bins?.", "I\u2019m sure people not familiar with this experiment would be tempted to think that the balls would fall randomly across various bins and does not really follow any particular pattern. But this does not happen, there seems to be an order here.", "Have a look at the image below \u2013", "", "It appears that when you drop several balls on the Galton Board, with each ball taking a random walk, they all get distributed in a particular way \u2013", "A distribution of this sort is called the \u201cNormal Distribution\u201d. You may have heard of the bell curve from your school days, bell curve is nothing but the normal distribution. Now here is the best part, irrespective of how many times you repeat this experiment, the balls always get distributed to form a normal distribution.", "This is a very popular experiment called the Galton Board experiment; I would strongly recommend you to watch this beautiful video to understand this discussion better \u2013", "So why do you think we are discussing the Galton Board experiment and the Normal Distribution?", "Well many things in real life follow this natural order. For example \u2013", "This list can go on and on, however I would like to draw your attention to one more interesting variable that follows the normal distribution \u2013 the daily returns of a stock!", "The daily returns of a stock or an index cannot be predicted \u2013 meaning if you were to ask me what will be return on TCS tomorrow I will not be able to tell you, this is more like the random walk that the ball takes. However if I collect the daily returns of the stock for a certain period and see the distribution of these returns \u2013 I get to see a normal distribution aka the bell curve!", "To drive this point across I have plotted the distribution of the daily returns of the following stocks/indices \u2013", "", "As you can see the daily returns of the stocks and indices clearly follow a normal distribution.", "Fair enough, but I guess by now you would be curious to know why is this important and how is it connected to Volatility? Bear with me for a little longer and you will know why I\u2019m talking about this.", "", "I think the following discussion could be a bit overwhelming for a person exploring the concept of normal distribution for the first time. So here is what I will do \u2013 I will explain the concept of normal distribution, relate this concept to the Galton board experiment, and then extrapolate it to the stock markets. I hope this will help you grasp the gist better.", "So besides the Normal Distribution there are other distributions across which data can be distributed. Different data sets are distributed in different statistical ways. Some of the other data distribution patterns are \u2013 binomial distribution, uniform distribution, poisson distribution, chi square distribution etc. However the normal distribution pattern is probably the most well understood and researched distribution amongst the other distributions.", "The normal distribution has a set of characteristics that helps us develop insights into the data set. The normal distribution curve can be fully described by two numbers \u2013 the distribution\u2019s mean (average) and standard deviation.", "The mean is the central value where maximum values are concentrated. This is the average value of the distribution. For instance, in the Galton board experiment the mean is that bin which has the maximum numbers of balls in it.", "", "So if I were to number the bins (starting from the left) as 1, 2, 3\u2026all the way upto 9 (right most), then the 5th bin (marked by a red arrow) is the \u2018average\u2019 bin. Keeping the average bin as a reference, the data is spread out on either sides of this average reference value. The way the data is spread out (dispersion as it is called) is quantified by the standard deviation (recollect this also happens to be the volatility in the stock market context).", "Here is something you need to know \u2013 when someone says \u2018Standard Deviation (SD)\u2019 by default they are referring to the 1st SD. Likewise there is 2nd standard deviation (2SD), 3rd standard deviation (SD) etc. So when I say SD, I\u2019m referring to just the standard deviation value, 2SD would refer to 2 times the SD value, 3 SD would refer to 3 times the SD value so on and so forth.", "For example assume in case of the Galton Board experiment the SD is 1 and average is 5. Then,", "Now keeping the above in perspective, here is the general theory around the normal distribution which you should know \u2013", "The following image should help you visualize the above \u2013", "", "Applying this to the Galton board experiment \u2013", "Keeping the above in perspective, let us assume you are about to drop a ball on the Galton board and before doing so we both engage in a conversation \u2013", "You \u2013 I\u2019m about to drop a ball, can you guess which bin the ball will fall into?", "Me \u2013 No, I cannot as each ball takes a random walk.\u00a0 However, I can predict the range of bins in which it may fall", "You \u2013 Can you predict the range?", "Me \u2013 Most probably the ball will fall between the 4th and the 6th bin", "You \u2013 Well, how sure are you about this?", "Me \u2013 I\u2019m 68% confident that it would fall anywhere between the 4th and the 6th bin", "You \u2013 Well, 68% is a bit low on accuracy, can you estimate the range with a greater accuracy?", "Me \u2013 Sure, I can. The ball is likely to fall between the 3rd and 7th bin, and I\u2019m 95% sure about this. If you want an even higher accuracy then I\u2019d say that the ball is likely to fall between the 2nd and 8th bin and I\u2019m 99.5% sure about this", "You \u2013 Nice, does that mean there is no chance for the ball to fall in either the 1st or 10th bin?", "Me \u2013 Well, there is certainly a chance for the ball to fall in one of the bins outside the 3rd SD bins but the chance is very low", "You \u2013 How low?", "Me \u2013 The chance is as low as spotting a \u2018Black Swan\u2019 in a river. Probability wise, the chance is less than 0.5%", "You \u2013 Tell me more about the Black Swan", "Me \u2013 Black Swan \u2018events\u2019 as they are called, are events (like the ball falling in 1st\u00a0 or 10th bin) that have a low probability of occurrence. But one should be aware that black swan events have a non-zero probability and it can certainly occur \u2013 when and how is hard to predict. In the picture below you can see the occurrence of a black swan event \u2013", "", "In the above picture there are so many balls that are dropped, but only a handful of them collect at the extreme ends.", "17.4 \u2013 Normal Distribution and stock returns", "Hopefully the above discussion should have given you a quick introduction to the normal distribution. The reason why we are talking about normal distribution is that the daily returns of the stock/indices also form a bell curve or a normal distribution. This implies that if we know the mean and standard deviation of the stock return, then we can develop a greater insight into the behavior of the stock\u2019s returns or its dispersion.\u00a0\u00a0\u00a0\u00a0 For sake of this discussion, let us take up the case of Nifty and do some analysis.", "To begin with, here is the distribution of Nifty\u2019s daily returns is \u2013", "", "As we can see the daily returns are clearly distributed normally. I\u2019ve calculated the average and standard deviation for this distribution (in case you are wondering how to calculate the same, please do refer to the previous chapter). Remember to calculate these values we need to calculate the log daily returns.", "Do note, an average of 0.04% indicates that the daily returns of nifty are centered at 0.04%. Now keeping this information in perspective let us calculate the following things \u2013", "For both the above calculations, we will use 1 and 2 standard deviation meaning with 68% and 95% confidence.", "Solution 1 \u2013 (Nifty\u2019s range for next 1 year)", "Average = 0.04%\nSD = 1.046%", "Let us convert this to annualized numbers \u2013", "Average = 0.04*252 = 9.66%\nSD = 1.046% * Sqrt (252) = 16.61%", "So with 68% confidence I can say that the value of Nifty is likely to be in the range of \u2013", "= Average + 1 SD (Upper Range) and Average \u2013 1 SD (Lower Range)\n= 9.66% + 16.61% = 26.66%\n= 9.66% \u2013 16.61% = -6.95%", "Note these % are log percentages (as we have calculated this on log daily returns), so we need to convert these back to regular %, we can do that directly and get the range value (w.r.t to Nifty\u2019s CMP of 8337) \u2013", "Upper Range\n= 8337 *exponential (26.66%)\n= 10841", "And for lower range \u2013", "= 8337 * exponential (-6.95%)\n= 7777", "The above calculation suggests that Nifty is likely to trade somewhere between 7777 and 10841. How confident I am about this? \u2013 Well as you know I\u2019m 68% confident about this.", "Let us increase the confidence level to 95% or the 2nd standard deviation and check what values we get \u2013", "Average + 2 SD (Upper Range) and Average \u2013 2 SD (Lower Range)\n= 9.66% + 2* 16.61% = 42.87%\n= 9.66% \u2013 2* 16.61% = -23.56%", "Hence the range works out to \u2013", "Upper Range\n= 8337 *exponential (42.87%)\n= 12800", "And for lower range \u2013", "= 8337 * exponential (-23.56%)\n= 6587", "The above calculation suggests that with 95% confidence Nifty is likely to trade anywhere in the range of 6587 and 12800 over the next one year. Also as you can notice when we want higher accuracy, the range becomes much larger.", "I would suggest you do the same exercise for 99.7% confidence or with 3SD and figure out what kind of range numbers you get.", "Now, assume you do the range calculation of Nifty at 3SD level and get the lower range value of Nifty as 5000 (I\u2019m just quoting this as a place holder number here), does this mean Nifty cannot go below 5000? Well it certainly can but the chance of going below 5000 is low, and if it really does go below 5000 then it can be termed as a black swan event. You can extend the same argument to the upper end range as well.", "Solution 2 \u2013 (Nifty\u2019s range for next 30 days)", "We know the daily mean and SD \u2013", "Average = 0.04%\nSD = 1.046%", "Since we are interested in calculating the range for next 30 days, we need to convert the same for the desired time period \u2013", "Average = 0.04% * 30 = 1.15%\nSD = 1.046% * sqrt (30) = 5.73%", "So with 68% confidence I can say that, the value of Nifty over the next 30 days is likely to be in the range of \u2013", "= Average + 1 SD (Upper Range) and Average \u2013 1 SD (Lower Range)\n= 1.15% + 5.73% = 6.88%\n= 1.15% \u2013 5.73% = \u2013 4.58%", "Note these % are log percentages, so we need to convert them back to regular %, we can do that directly and get the range value (w.r.t to Nifty\u2019s CMP of 8337) \u2013", "= 8337 *exponential (6.88%)\n= 8930", "And for lower range \u2013", "= 8337 * exponential (-4.58%)\n= 7963", "The above calculation suggests that with 68% confidence level I can estimate Nifty to trade somewhere between 8930 and 7963 over the next 30 days.", "Let us increase the confidence level to 95% or the 2nd standard deviation and check what values we get \u2013", "Average + 2 SD (Upper Range) and Average \u2013 2 SD (Lower Range)\n= 1.15% + 2* 5.73% = 12.61%\n= 1.15% \u2013 2* 5.73% = -10.31%", "Hence the range works out to \u2013", "= 8337 *exponential (12.61%)\n= 9457 (Upper Range)", "And for lower range \u2013", "= 8337 * exponential (-10.31%)\n= 7520", "I hope the above calculations are clear to you. You can also download the MS excel that I\u2019ve used to make these calculations.", "Of course you may have a very valid point at this stage \u2013 normal distribution is fine, but how do I get to use the information to trade? I guess as such this chapter is quite long enough to accommodate more concepts. Hence we will move the application part to the next chapter. In the next chapter we will explore the applications of standard deviation (volatility) and its relevance to trading. We will discuss two important topics in the next chapter (1) How to select strikes that can be sold/written using normal distribution and (2) How to set up stoploss using volatility.", "Of course, do remember eventually the idea is to discuss Vega and its effect on options premium.", "Sir,\nWhat a surprise journey. Pleasant surprise because maths use to be my favourite subject and i did not expect that I will get chance to use my skill in share market also. Now after this I (we) are more curious for the next chapter. I am eagerly waiting for it as you have said that this approach is different from the technical and fundamental approach.\nCongratulation for again simple explanation and\nThanks for enlightening us.\nR P HANS", "Thank you! I hope you will like the upcoming chapter as well \ud83d\ude42", "So much clarity in your writeup. Pls share your twitter id \ud83d\ude42", "@karthikrangappa \ud83d\ude42", "Hello sir\ni really liked the way you explained the topics, i have a small doubt i, e in nifty example in excel sheet while calculating 1SD yearly you used =k9*SQRT(252) As formula but i don\u2019t understand why it\u2019s 252 and not 365 days\nplease help me understand the same.\nThank you", "252 represents the number of trading session in a year, hence \ud83d\ude42", "Very well explained. And very nice transition from mathematics to stock market application. You have a natural teaching ability and that can only come from a deep level of understanding.\nJust one observation though \u2013 I understand that the trading year can be considered to have 252 days, In that case would it not be appropriate to consider that the trading month has 22 days instead of 30, in Solution 2 ( Nifty in 30 days)? Unless of course, one is trying to forecast the price 30 trading sessions later (instead of 30 days later?", "Thanks for the kind words, Kartik \ud83d\ude42", "Yes, it does make sense to take 252 days a year / 22 per month.", "wonderful explanation \u2026.was worth the wait :-).\nsmall correction, I couldn\u2019t find the red arrow in the digram above the statement \u201cmarked by a red arrow)\u201d. same for picture on Black Swan, also you have taken example of 1 to 10 slots but there are 13\u2026.may be pic needs to be changed\u2026.. ofcourse not a big thing\u2026..", "Yeah, i\u2019ve noticed the mismatch but cant too late to get the illustrations changed \ud83d\ude42", "Sir, In the Nifty eg you have taken data from 10th March\u201911 onwards for the calculation. Obviously using more data for calculation wil provide the best result. But for precise caluclation how much data to be collected? Whether last 1year/2 year or anything? Kindly suggest..", "In fact you can try this for any time frame\u20261 year , 2 year etc\u2026you will end up with a normal distribution!", "Sir, one more question: You have shown predicting the price movement for the year and month. But it will also be needed to calculate the range of price for a day. i.e. present day or tomorrow to plan a trade. Will you explain that also?", "Will be talking about this in the next chapter \ud83d\ude42", "The way you simplifying the things which are complex to most of us, is fabulous. Many such things i never paid any heed till now. Thank you very much and keep going. we all are ready to grasp the knowledge you are sharing with us.", "Thanks Shreya \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2015/08/M5-C17-GaltonBoard11.png", "http://zerodha.com/varsity/wp-content/uploads/2015/08/M5-C17-GaltonBoard2.png", "http://zerodha.com/varsity/wp-content/uploads/2015/08/Image-3_ND-stocks.png", "http://zerodha.com/varsity/wp-content/uploads/2015/08/M5-Ch17-cartoon.png", "http://zerodha.com/varsity/wp-content/uploads/2015/08/M5-C17-GaltonBoard32.png", "http://zerodha.com/varsity/wp-content/uploads/2015/08/M5-C17-ND-graph1.png", "http://zerodha.com/varsity/wp-content/uploads/2015/08/M5-C17-GaltonBoard42.png", "http://zerodha.com/varsity/wp-content/uploads/2015/08/Image-7_Nifty-SD.png", "https://secure.gravatar.com/avatar/225a008f9e662f2405e68f707fb3a988?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/7a039ce1e4b25aeefc6ff5a6f144de4c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/09682986b5eaf921fda429b1709320aa?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/8d088a00fb110b8dfdb9d666dc19d76b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1a256f827345b5db468c036e4f8622d7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/225a008f9e662f2405e68f707fb3a988?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c99cb5f426c5d265e34f3f4dbe574865?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "12. Gamma (Part 1)", "text": ["How many of you remember your high school calculus? Does the word differentiation and integration ring a bell? The word \u2018Derivatives\u2019 meant something else to all\u00a0 of us back then \u2013 it simply referred to solving lengthy differentiation and integration problems.", "Let me attempt to refresh your memory \u2013 the idea here is to just drive a certain point across and not really get into the technicalities of solving a calculus problem. Please note, the following discussion is very relevant to options, so please do read on.", "Consider this \u2013", "A car is set into motion; it starts from 0 kms travels for 10 minutes and reaches the 3rd kilometer mark. From the 3rd kilometer mark, the car travels for another 5 minutes and reaches the 7th kilometer mark.", "", "Let us focus and note what really happens between the 3rd and 7th kilometer, \u2013", "If we divide dx over dt i.e. change in distance over change in time we get \u2018Velocity\u2019 (V)!", "V = dx / dt", "= 4/5", "This means the car is travelling 4Kms for every 5 Minutes. Here the velocity is being expressed in Kms travelled per minute, clearly this is not a convention we use in our day to day conversation as we are used to express speed or velocity in Kms travelled per hour (KMPH).", "We can convert 4/5 to KMPH by making a simple mathematical adjustment \u2013", "5 minutes when expressed in hours equals 5/60 hours, plugging this back in the above equation", "= 4 / (5/ 60)", "= (4*60)/5", "= 48 Kmph", "Hence the car is moving at a velocity of 48 kmph (kilometers per hour).", "Do remember Velocity is change in distance travelled divided over change in time. In the calculus world, the Speed or Velocity is called the \u20181st order derivative\u2019 of distance travelled.", "Now, let us take this example forward \u2013 In the 1st leg of the journey the car reached the 7th Kilometer after 15 minutes. Further assume in the 2nd leg of journey, starting from the 7th kilometer mark the car travels for another 5 minutes and reaches the 15th kilometer mark.", "", "We know the velocity of the car in the first leg was 48 kmph, and we can easily calculate the velocity for the 2nd leg of the journey as 96 kmph (here dx = 8 and dt = 5).", "It is quite obvious that the car travelled twice as fast in the 2nd leg of the journey.", "Let us call the change in velocity as \u2018dv\u2019. Change in velocity as we know is also called \u2018Acceleration\u2019.", "We know the change in velocity is", "= 96KMPH \u2013 48 KMPH", "= 48 KMPH /??", "The above answer suggests that the change in velocity is 48 KMPH\u2026. but over what? Confusing right?", "Let me explain \u2013", "** The following explanation may seem like a digression from the main topic about Gamma, but it is not, so please read on, if not for anything it will refresh your high school physics \u263a **", "When you want to buy a new car, the first thing the sales guy tells you is something like this \u2013 \u201cthe car is really fast as it can accelerate 0 to 60 in 5 seconds\u201d. Essentially he is telling you that the car can change velocity from 0 KMPH (from the state of complete rest) to 60 KMPH in 5 seconds. Change in velocity here is 60KMPH (60 \u2013 0) over 5 seconds.", "Likewise in the above example we know the change in velocity is 48KMPH but over what? Unless we answer \u201cover what\u201d part, we would not know what the acceleration really is.", "To find out the acceleration in this particular case, we can make some assumptions \u2013", "", "Using the above information, we can further deduce more information (in the calculus world, these are called the \u2018initial conditions\u2019).", "Now think about this, we know \u2013", "By reverse engineering we know the final velocity should be 144 Kmph as the average of 0 and 144 is 72.", "Further we know acceleration is calculated as = Final Velocity / time (provided acceleration is constant).", "Hence the acceleration is \u2013", "= 144 kmph / 10 minutes", "10 minutes when converted to hours is (10/60) hours, plugging this back in the above equation", "= 144 kmph / (10/60) hour", "= 864 Kilometers per hour.", "This means the car is gaining a speed of 864 kilometers every hour, and if a salesman is selling you this car, he would say the car can accelerate 0 to 72kmph in 5 secs (I\u2019ll let you do this math).", "We simplified this problem a great deal by making one assumption \u2013 acceleration is constant. However in reality acceleration is not constant, you accelerate at different speeds for obvious reasons. Generally speaking, to calculate such problems involving change in one variable due to the change in another variable one would have to dig into derivative calculus, more precisely one needs to use the concept of \u2018differential equations\u2019.", "Now just think about this for a moment \u2013", "We know change in distance travelled (position) = Velocity, this is also called the 1st order derivative of distance position.", "Change in Velocity = Acceleration", "Acceleration = Change in Velocity over time, which is in turn the change in position over time.", "Hence it is apt to call Acceleration as the 2nd order derivative of the position or the 1st derivative of Velocity!", "Keep this point about the 1st order derivative and 2nd order derivative in perspective as we now proceed to understand the Gamma.", "", "Over the last few chapters we understood how Delta of an option works. Delta as we know represents the change in premium for the given change in the underlying price.", "For example if the Nifty spot value is 8000, then we know the 8200 CE option is OTM, hence its delta could be a value between 0 and 0.5. Let us fix this to 0.2 for the sake of this discussion.", "Assume Nifty spot jumps 300 points in a single day, this means the 8200 CE is no longer an OTM option, rather it becomes slightly ITM option and therefore by virtue of this jump in spot value, the delta of 8200 CE will no longer be 0.2, it would be somewhere between 0.5 and 1.0, let us assume 0.8.", "With this change in underlying, one thing is very clear \u2013 the delta itself changes. Meaning delta is a variable, whose value changes based on the changes in the underlying and the premium! If you notice, Delta is very similar to velocity whose value changes with change in time and the distance travelled.", "The Gamma of an option measures this change in delta for the given change in the underlying. In other words Gamma of an option helps us answer this question \u2013 \u201cFor a given change in the underlying, what will be the corresponding change in the delta of the option?\u201d", "Now, let us re-plug the velocity and acceleration example and draw some parallels to Delta and Gamma.", "1st order Derivative", "2nd order Derivative", "As you can imagine, calculating the values of Delta and Gamma (and in fact all other Option Greeks) involves number crunching and heavy use of calculus (differential equations and stochastic calculus).", "Here is a trivia for you \u2013 as we know, derivatives are called derivatives because the derivative contracts derives its value based on the value of its respective underlying.", "This value that the derivatives contracts derive from its respective underlying is measured using the application of \u201cDerivatives\u201d as a mathematical concept, hence the reason why Futures & Options are referred to as \u2018Derivatives\u2019 \u263a.", "You may be interested to know there is a parallel trading universe out there where traders apply derivative calculus to find trading opportunities day in and day out. In the trading world, such traders are generally called \u2018Quants\u2019, quite a fancy nomenclature I must say. Quantitative trading is what really exists on the other side of this mountain called \u2018Markets\u2019.", "From my experience, understanding the 2nd order derivative such as Gamma is not an easy task, although we will try and simplify it as much as possible in the subsequent chapters.", "sir,how to draw mave on volume chart$what is pattern recognition &its not working in PI", "Just drag the MA indicator on volumes and you get it. It works on Pi.", "Is Pi free for zerodha users?", "Yes, all trading platform \u2013 Kite, Kite Mobile, and Pi are free for Zerodha users.", "When will we get PI for mac ?", "Unfortunately, there is no timeline on that Shanshank.", "your content is excellent one request can you please convert all the chapters into PDF files so that one can easily refer when ever possible", "We are in the process of converting each module into downloadable PDF\u2019s and ibook format. Its available for the first 3 modules\u2026work is on for the rest.", "Hi kartik,\nVery very thanks for this chapter .This is some different, more interesting and a mathematical chapter. I love mathematical topics. I have read this chapter 5 times and drew following conclusion. Kindly check it and correct me where I am wrong.", "Let nifty is at 8000. If we buy Nifty8200 CE at premium of rs. 100. If delta is 0.2. if nifty goes up to 8300 then,\nChange in underlying =300 (8300-8000)\nNew premium =250\nChange in premium = 150 (250-100)\nDELTA = CHANGE IN PREMIUM / CHANGE IN UNDERLYING = 150/300 =1/2= 0.5\nGAMMA= CHANGE IN DELTA / CHANGE IN UNDERLYING = (0.5-0.2)/300= 0.3/300 = 1/1000 = 0.001\n CONCLUSION,\n\u2022\tThis means for every one point change in nifty, premium changes by 0.5 points\n\u2022\tAlso, for every one point change in nifty, delta changes by 0.001 points\n\u2022\tClearly delta is First order derivative of premium and gamma is second order derivative of premium.", "Really appreciate your enthusiasm and eagerness to learn \ud83d\ude42", "Some corrections \u2013", "If delta = 0.2\nChange in underlying = 300\nPremium = 100\nChange in premium will be = 300 * 0.2 = 60\nNew premium = 100+60 = 160", "You are broadly on the right path here\u2026but please do wait for the next chapter and you will develop complete clarity on this matter. Thanks for your patience.", "Sir clearly,\nChange in premium= change in underlying*delta = 0.2*300=60\nNew premium= 100+60=160\nBut, how do we calculate new delta and also how do we calculate gamma\nPlease upload next chapter as soon as possible. I want to get clear concept on this topic.", "I\u2019ll try my best to get the next chapter up this week, thanks for your patience.", "The screen is very Dim. Even when what i am typing can not read. Need to use constant lense. It is really tiresome. Can you please improve visibility.", "Sir, we have used maximum possible white space in this initiative. Having a lot of white space increases visibility. I\u2019m not sure whatelse can be done, however I will check with my technical colleagues if there is any solution to this.", "Hi Karthik, we can\u2019t thank you enough for making the content so detailed and comprehensible! You\u2019re going to make turn us into complete pros : ) While I\u2019ve already started using the delta and theta concepts to shape my options strategy, factoring in the gamma factor will be a heavy-duty number crunching exercise. Please help me out with this one part: If I sell an ATM Call and Put (both having a delta of about 0.5 \u2014 positive for the Call and negative for the Put) of the Bank Nifty, how many points (approximately) does the price have to move:\na. to turn one delta into 0.4 and the other into 0.6?\nb. to turn one delta into 0.3 and the other into 0.7?\nc. to turn one delta into 0.2 and the other into 0.8?", "Thanks!", "Delta of call ATM = + 0.5\nDelta of Put ATM = -0.5", "But when you short\u2026", "Delta of call ATM = \u2013 0.5\nDelta of Put ATM = + 0.5", "Total position delta = -0.5 + 0.5 = 0", "This means irrespective of much the market moves, the position will not get affected, because delta is 0. In other words, the position is delta neutral.\nFor example if nifty moves 100 points +ve\nChange in premium = delta * number of points moved\n= 0 * 100\n= 0", "However, after the 100 point move the positions will no longer be delta neutral. This is because delta itself changes due to gamma. From your question, I get a feeling you are clear upto this point.", "However I would request you to please wait a little longer to get specific answers \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2015/06/Ch12-diagram-1.png", "http://zerodha.com/varsity/wp-content/uploads/2015/06/Ch12-diagram-2.png", "http://zerodha.com/varsity/wp-content/uploads/2015/06/Ch12-diagram-3.png", "http://zerodha.com/varsity/wp-content/uploads/2015/06/M5-Ch12-title.png", "https://secure.gravatar.com/avatar/c3ac3f2dc2d40a5f464c533a9dc822e7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0c6045c4fc25ed686bea9b8cafb54acf?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b41730110853f25a3d6bde650ba83625?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/58380a9f992116df98ac7885e76517d7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5de5d5c703f8e5ca53a038d74ddd99fc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5de5d5c703f8e5ca53a038d74ddd99fc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/55571c1335f864a82f4b4031ea011c9d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b7504cee0f466113f6e4b61dfb83f49c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "9. The Option Greeks (Delta) Part 1", "text": ["Yesterday I watched the latest bollywood flick \u2018Piku\u2019. Quite nice I must say. After watching the movie I was casually pondering over what really made me like Piku \u2013 was it the overall storyline, or Amitabh Bachchan\u2019s brilliant acting, or Deepika Padukone\u2019s charming screen presence, or Shoojit Sircar\u2019s brilliant direction? Well, I suppose it was a mix of all these factors that made the movie enjoyable.", "This also made me realize, there is a remarkable similarity between a bollywood movie and an options trade. Similar to a bollywood movie, for an options trade to be successful in the market there are several forces which need to work in the option trader\u2019s favor. These forces are collectively called \u2018The Option Greeks\u2019. These forces influence an option contract in real time, affecting the premium to either increase or decrease on a minute by minute basis. To make matters complicated, these forces not only influence the premiums directly but also influence each another.", "To put this in perspective think about these two bollywood actors \u2013 Aamir Khan and Salman Khan. Movie buffs would recognize them as two independent acting forces (similar to option Greeks) of Bollywood. They can independently influence the outcome of the movie they act in (think of the movie as an options premium). However if you put both these guys in a single flick, chances are that they will try to pull one another down while at the same time push themselves up and at the same time try to make the movie a success. Do you see the juggling around here? This may not be a perfect analogy, but I hope it gives you a sense of what I\u2019m trying to convey.", "Options Premiums, options Greeks, and the natural demand supply situation of the markets influence each other. Though all these factors work as independent agents, yet they are all intervened with one another. The final outcome of this mixture can be assessed in the option\u2019s premium. For an options trader, assessing the variation in premium is most important. He needs to develop a sense for how these factors play out before setting up an option trade.", "So without much ado, let me introduce the Greeks to you \u2013", "We will discuss these Greeks over the next few chapters. The focus of this chapter is to understand the Delta.", "Notice the following two snapshots here \u2013 they belong to Nifty\u2019s 8250 CE option. The first snapshot was taken at 09:18 AM when Nifty spot was at 8292.", "A little while later\u2026", "", "Now notice the change in premium \u2013 at 09:18 AM when Nifty was at 8292\u00a0the call option was trading at 144, however at 10:00 AM Nifty moved to 8315\u00a0and the same call option was trading at 150.", "In fact here is another snapshot at 10:55 AM \u2013 Nifty declined to 8288 and so did the option premium (declined to 133).", "", "From the above observations one thing stands out very clear \u2013 as and when the value of the spot changes, so does the option premium. More precisely as we already know \u2013 the call option premium increases with the increase in the spot value and vice versa.", "Keeping this in perspective, imagine this \u2013 you have predicted that Nifty will reach 8355 by 3:00 PM today. From the snapshots above we know that the premium will certainly change \u2013 but by how much? What is the likely value of the 8250 CE premium if Nifty reaches 8355?", "Well, this is exactly where the \u2018Delta of an Option\u2019 comes handy. The Delta measures how an options value changes with respect to the change in the underlying. In simpler terms, the Delta of an option helps us answer questions of this sort \u2013 \u201cBy how many points will the option premium change for every 1 point change in the underlying?\u201d", "Therefore the Option Greek\u2019s \u2018Delta\u2019 captures the effect of the directional movement of the market on the Option\u2019s premium.", "", "The delta is a number which varies \u2013", "At this stage I want to give you an orientation of how this chapter will shape up, please do keep this at the back of your mind as I believe it will help you join the dots better \u2013", "So let\u2019s hit the road!", "We know the delta is a number that ranges between 0 and 1. Assume a call option has a delta of 0.3 or 30 \u2013 what does this mean?", "Well, as we know the delta measures the rate of change of premium for every unit change in the underlying. So a delta of 0.3 indicates that for every 1 point change in the underlying, the premium is likely change by 0.3 units, or for every 100 point change in the underlying the premium is likely to change by 30 points.", "The following example should help you understand this better \u2013", "Nifty @ 10:55 AM is at 8288", "Option Strike = 8250 Call Option", "Premium = 133", "Delta of the option = + 0.55", "Nifty @ 3:15 PM is expected to reach 8310", "What is the likely option premium value at 3:15 PM?", "Well, this is fairly easy to calculate. We know the Delta of the option is 0.55, which means for every 1 point change in the underlying the premium is expected to change by 0.55 points.", "We are expecting the underlying to change by 22 points (8310 \u2013 8288), hence the premium is supposed to increase by", "= 22*0.55", "= 12.1", "Therefore the new option premium is expected to trade around 145.1\u00a0(133+12.1)", "Which is the sum of old premium + expected change in premium", "Let us pick another case \u2013 what if one anticipates a drop in Nifty? What will happen to the premium? Let us figure that out \u2013", "Nifty @ 10:55 AM is at 8288", "Option Strike = 8250 Call Option", "Premium = 133", "Delta of the option = 0.55", "Nifty @ 3:15 PM is expected to reach 8200", "What is the likely premium value at 3:15 PM?", "We are expecting Nifty to decline by \u2013 88 points (8200 \u2013 8288), hence the change in premium will be \u2013", "= \u2013 88 * 0.55", "= \u2013 48.4", "Therefore the premium is expected to trade around", "= 133 \u2013 48.4", "= 84.6\u00a0(new premium value)", "As you can see from the above two examples, the delta helps us evaluate the premium value based on the directional move in the underlying. This is extremely useful information to have while trading options. For example assume you expect a massive 100 point up move on Nifty, and based on this expectation you decide to buy an option. There are two Call options and you need to decide which one to buy.", "Call Option 1 has a delta of 0.05", "Call Option 2 has a delta of 0.2", "Now the question is, which option will you buy?", "Let us do some math to answer this \u2013", "Change in underlying = 100 points", "Call option 1 Delta = 0.05", "Change in premium for call option 1 = 100 * 0.05", "= 5", "Call option 2 Delta = 0.2", "Change in premium for call option 2 = 100 * 0.2", "= 20", "As you can see the same 100 point move in the underlying has different effects on different options. In this case clearly the trader would be better off buying Call Option 2. This should give you a hint \u2013 the delta helps you select the right option strike to trade. But of course there are more dimensions to this, which we will explore soon.", "At this stage let me post a very important question \u2013 Why is the delta value for a call option bound by 0 and 1? Why can\u2019t the call option\u2019s delta go beyond 0 and 1?", "To help understand this, let us look at 2 scenarios wherein I will purposely keep the delta value above 1 and below 0.", "Scenario 1: Delta greater than 1 for a call option", "Nifty @ 10:55 AM at 8268", "Option Strike = 8250 Call Option", "Premium = 133", "Delta of the option = 1.5 (purposely keeping it above 1)", "Nifty @ 3:15 PM is expected to reach 8310", "What is the likely premium value at 3:15 PM?", "Change in Nifty = 42 points", "Therefore the change in premium (considering the delta is 1.5)", "= 1.5*42", "= 63", "Do you notice that? The answer suggests that for a 42 point change in the underlying, the value of premium is increasing by 63 points! In other words, the option is gaining more value than the underlying itself. Remember the option is a derivative contract, it derives its value from its respective underlying, hence it can never move faster than the underlying.", "If the delta is 1 (which is the maximum delta value) it signifies that the option is moving in line with the underlying which is acceptable, but a value higher than 1 does not make sense.\u00a0 For this reason the delta of an option is fixed to a maximum value of 1 or 100.", "Let us extend the same logic to figure out why the delta of a call option is lower bound to 0.", "Scenario 2: Delta lesser than 0 for a call option", "Nifty @ 10:55 AM at 8288", "Option Strike = 8300 Call Option", "Premium = 9", "Delta of the option = \u2013 0.2 (have purposely changed the value to below 0, hence negative delta)", "Nifty @ 3:15 PM is expected to reach 8200", "What is the likely premium value at 3:15 PM?", "Change in Nifty = 88 points (8288 -8200)", "Therefore the change in premium (considering the delta is -0.2)", "= -0.2*88", "= -17.6", "For a moment we will assume this is true, therefore new premium will be", "= -17.6 + 9", "= \u2013 8.6", "As you can see in this case, when the delta of a call option goes below 0, there is a possibility for the premium to go below 0, which is impossible. At this point do recollect the premium irrespective of a call or put can never be negative. Hence for this reason, the delta of a call option is lower bound to zero.", "The value of the delta is one of the many outputs from the Black & Scholes option pricing formula. As I have mentioned earlier in this module, the B&S formula takes in a bunch of inputs and gives out a few key outputs. The output includes the option\u2019s delta value and other Greeks. After discussing all the Greeks, we will also go through the B&S formula to strengthen our understanding on options. However for now, you need to be aware that the delta and other Greeks are market driven values and are computed by the B&S formula.", "However here is a table which will help you identify the approximate delta value for a given option \u2013", "Of course you can always find out the exact delta of an option by using a B&S option pricing calculator.", "Do recollect the Delta of a Put Option ranges from -1 to 0. The negative sign is just to illustrate the fact that when the underlying gains in value, the value of premium goes down. Keeping this in mind, consider the following details \u2013", "Note \u2013 8268 is a slightly ITM option, hence the delta is around -0.55 (as indicated from the table above).", "The objective is to evaluate the new premium value considering the delta value to be -0.55. Do pay attention to the calculations made below.", "Case 1: Nifty is expected to move to 8310", "Expected change = 8310 \u2013 8268", "= 42", "Delta = \u2013 0.55", "= -0.55*42", "= -23.1", "Current Premium = 128", "New Premium = 128 -23.1", "= 104.9", "Here I\u2019m subtracting the value of delta since I know that the value of a Put option declines when the underlying value increases.", "Case 2: Nifty is expected to move to 8230", "Expected change = 8268 \u2013 8230", "= 38", "Delta = \u2013 0.55", "= -0.55*38", "= -20.9", "Current Premium = 128", "New Premium = 128 + 20.9", "= 148.9", "Here I\u2019m adding the value of delta since I know that the value of a Put option gains when the underlying value decreases.", "I hope with the above two Illustrations you are now clear on how to use the Put Option\u2019s delta value to evaluate the new premium value. Also, I will take the liberty to skip explaining why the Put Option\u2019s delta is bound between -1 and 0.", "In fact I would encourage the readers to apply the same logic we used while understanding why the call option\u2019s delta is bound between 0 and 1, to understand why Put option\u2019s delta is bound between -1 and 0.", "In the next chapter we will dig deeper into Delta and understand some of its characteristics.", "Hi kartik,\nVery very thanks for new chapter. Contents are very good and clear but incomplete knowledge create confusion. So, I am waiting with Patience for your completing this module.", "Thanks for you patience, we are working on the new chapter\u2026will put up up as soon as we can.", "hey Nikhil ,i have learnt alot from zerodha varsity. While going through this chapter and solving examples a doubt arose.it would be great if you could look into it.", "In the example of call option where you talk about the role delta plays when one expects nifty to drop and the example where you take delta below 0. in these two case there is certain differences in computation of premium. i believe as per the computation in first example ,in later example it should have been", "change in nifty= 8200-8288= -88\nexpected change in premium =\n-88*(-0.2) = 17.6\nhence new premium shall be 9+17.6=26.6", "please look into it.and let me know if i have misunderstood the concept", "Glad to note that, Jyotsana. By the way, the way to determine the change in Delta is by calculating the change in Nifty points multiplied by the Delta\u2026.so in this case \u2013", "88*0.2 = 17.6.", "If you are long Call, add the delta to the premium, if you are short call, deduct the delta from the premium. Do not consider the algebraic sign at the time of calculating the change in delta. Easier this way \ud83d\ude42", "Ok,thanks I had a similar question ,which I have posted below.Of course we have to consider the premium both from a writer and buyer perspective..doubt cleared.", "Ah, glad you figured \ud83d\ude42", "BS has been known to be erroneous for NIFTY (Asian Journal for Management) , how does one trust the Greeks then ? Is there a modification in BS Formula to consider the NIFTY.", "Well, in that case, no model is perfect \ud83d\ude42 I\u2019m not sure if there is a variant which fits Nifty well. I need to check this.", "Sir\n Thank you very much for explaining the difficult subject in easy way. It\u2019s really appreciable & thank you once again for taking so much pain to explain rather complicated things.\n Keep it up. Awaiting eagerly for next chapters.", "waiting for next chapter \u2026..", "hey first of all thanks for explaining the delta in such a simple way.\nwhen will be the chapter on option strategies will come?", "The module on Option stratergies will take some time\u2026we will start work on that once the ongoing module on Options Theory is through.", "If i sell first a stock at 25 and then buy at 20 before expiry , then my profit is 5 plus premium received. Am i right?", "Let me rephrase this \u2013 If you sell an option (not stock) at a premium of 25 and buy the option back at 20, then the profit you make is Rs.5/- times the lot size\u201d.", "why not premium received?", "Can you please elaborate your query, I\u2019m unable to understand the context. Thanks.", "You may have already realized answer to your question. If not, you received Rs25/- premium for selling the call option, which is already considered in the calculation, right ?", "profit=(25-20)*lot size \u2014- assuming you bought same number of contracts (lots), which you should be doing.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2015/05/M5-Ch9-Illustration1.png", "http://zerodha.com/varsity/wp-content/uploads/2015/05/Image-1_at-918.png", "http://zerodha.com/varsity/wp-content/uploads/2015/05/Image-2_nifty-8316.png", "http://zerodha.com/varsity/wp-content/uploads/2015/05/Image-3_nifty-8288.png", "http://zerodha.com/varsity/wp-content/uploads/2015/05/M5-Ch9-Illustration2.png", "https://secure.gravatar.com/avatar/5de5d5c703f8e5ca53a038d74ddd99fc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/129d2da3ca55e9fbda2632fc91e1b446?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2633c42ee4d73f9c082b2508d554a10d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/92a77cee85665c64481e51c5c973a512?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/84c2d4c19e099580fa82f6f5c02381d5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/71793f7aceeef552d10b8d4d9c14ce3e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/07baf1881c99527dde7ac1737b981e05?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/dc2f916d74cdeb056dde6018d6498c4e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/dc2f916d74cdeb056dde6018d6498c4e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/bc7f9b3c814a32df73de1adfb02a664a?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<tbody>\n<tr class=\"tableizer-firstrow\">\n<th>Option Type</th>\n<th>Approx Delta value (CE)</th>\n<th>Approx Delta value (PE)</th>\n</tr>\n<tr>\n<td>Deep ITM</td>\n<td>Between + 0.8 to + 1</td>\n<td>Between \u2013 0.8 to \u2013 1</td>\n</tr>\n<tr>\n<td>Slightly ITM</td>\n<td>Between + 0.6 to + 1</td>\n<td>Between \u2013 0.6 to \u2013 1</td>\n</tr>\n<tr>\n<td>ATM</td>\n<td>Between + 0.45 to + 0.55</td>\n<td>Between \u2013 0.45 to \u2013 0.55</td>\n</tr>\n<tr>\n<td>Slightly OTM</td>\n<td>Between + 0.45 to + 0.3</td>\n<td>Between \u2013 0.45 to -0.3</td>\n</tr>\n<tr>\n<td>Deep OTM</td>\n<td>Between + 0.3 to + 0</td>\n<td>Between \u2013 0.3 to \u2013 0</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<tbody>\n<tr class=\"tableizer-firstrow\">\n<th>Parameters</th>\n<th>Values</th>\n</tr>\n<tr>\n<td>Underlying</td>\n<td>Nifty</td>\n</tr>\n<tr>\n<td>Strike</td>\n<td>8300</td>\n</tr>\n<tr>\n<td>Spot value</td>\n<td>8268</td>\n</tr>\n<tr>\n<td>Premium</td>\n<td>128</td>\n</tr>\n<tr>\n<td>Delta</td>\n<td>-0.55</td>\n</tr>\n<tr>\n<td>Expected Nifty Value (Case 1)</td>\n<td>8310</td>\n</tr>\n<tr>\n<td>Expected Nifty Value (Case 2)</td>\n<td>8230</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "3. Buying a Call Option", "text": ["In the previous chapters we looked at the basic structure of a call option and understood the broad context under which it makes sense to buy a call option. In this chapter, we will formally structure our thoughts on the call option and get a firm understanding on both buying and selling of the call option. Before we move ahead any further in this chapter, here is a quick recap of what we learnt in the first chapter \u2013", "We will keep the above three points in perspective (which serves as basic guidelines) and understand the call option to a greater extent.", "There are many situations in the market that warrants the purchase of a call option. Here is one that I just discovered while writing this chapter, thought the example would fit well in the context of our discussions. Have a look at the chart below \u2013", "", "The stock in consideration is Bajaj Auto Limited. As you may know, they are one of the biggest manufacturers of two wheelers in India. For various reasons the stock has been beaten down in the market, so much so that the stock is trading at its 52 week low price. I believe there could be an opportunity to initiate a trade here. Here are my thoughts with respect to this trade \u2013", "To sum up, I\u2019m optimistic on the stock price of Bajaj Auto (the stock price to eventually increase) but I\u2019m kind of uncertain about the immediate outlook on the stock. The uncertainty is mainly due the fact that my losses in the short term could be intense if the weakness in the stock persists. However as per my estimate the probability of the loss is low, but nevertheless the probability still exists. So what should I do?", "Now, if you realize I\u2019m in a similar dilemma that was Ajay was in (recall the Ajay \u2013 Venu example from chapter 1). A circumstance such as this, builds up for a classic case of\u00a0an options trade.", "In the context of my dilemma, clearly buying a call option on Bajaj Auto makes sense for reasons I will explain shortly. Here is a snapshot of Bajaj Auto\u2019s option chain \u2013", "", "As we can see the stock is trading at Rs.2026.9 (highlighted in blue). I will choose to buy 2050 strike call option by paying a premium of Rs.6.35/- (highlighted in red box and red arrow). You may be wondering on what basis I choose the 2050 strike price when in fact there are so many different strike prices available (highlighted in green)?. Well, the process of strike price selection is a vast topic on its own, we will eventually get there in this module, but for now let us just believe 2050 is the right strike price to trade.", "So what happens to the call option now considering the expiry is 15 days away? Well, broadly speaking there are three possible scenarios which I suppose you are familiar with by now \u2013", "Scenario 1 \u2013 The stock price goes above the strike price, say 2080", "Scenario 2 \u2013 The stock price goes below the strike price, say 2030", "Scenario 3 \u2013 The stock price stays at 2050", "The above 3 scenarios are very similar to the ones we had looked at in chapter 1, hence I will also assume that you are familiar with the P&L calculation at the specific value of the spot in the \u00a0given scenarios above (if not, I would suggest you read through Chapter 1 again).", "The idea I\u2019m interested in exploring now is this \u2013", "What would happen to the P&L at various possible prices of spot (upon expiry) \u2013 I would like to call these points as the \u201cPossible values of the spot on expiry\u201d and sort of generalize the P&L understanding of the call option.", "In order to do this, I would like to first talk about (in part and not the full concept) the idea of the \u2018intrinsic value of the option upon expiry\u2019.", "The intrinsic value (IV) of the option upon expiry (specifically a call option for now) is defined as the non \u2013 negative value which the option buyer is entitled to if he were to exercise the call option. In simple words ask yourself (assuming you are the buyer of a call option) how much money you would receive upon expiry, if the call option you hold is profitable. Mathematically it is defined as \u2013", "IV = Spot Price \u2013 Strike Price", "So if Bajaj Auto on the day of expiry is trading at 2068 (in the spot market) the 2050 Call option\u2019s intrinsic value would be \u2013", "= 2068 \u2013 2050", "= 18", "Likewise, if Bajaj Auto is trading at 2025 on the expiry day the intrinsic value of the option would be \u2013", "= 2025 \u2013 2050", "= -25", "But remember, IV of an option (irrespective of a call or put) is a non negative number; hence we leave the IV at\u00a02025", "= 0", "Now our objective is to keep the idea of intrinsic value of the option in perspective, and to identify how much money I will make at every possible expiry value of Bajaj Auto and in the process make some generalizations on the call option buyer\u2019s P&L.", "Now keeping the concept of intrinsic value of an option at the back of our mind, let us work towards building a table which would help us identify how much money, I as the buyer of Bajaj Auto\u2019s 2050 call option would make under the various possible spot value changes of Bajaj Auto (in spot market) on expiry. Do remember the premium paid for this option is Rs 6.35/\u2013. Irrespective of how the spot value changes, the fact that I have paid Rs.6.35/- remains unchanged. This is the cost that I have incurred in order to buy the 2050 Call Option. Let us keep this in perspective and work out the P&L table \u2013", "Please note \u2013 the negative sign before the premium paid represents a cash out flow from my trading account.", "So what do you observe? The table above throws out 2 strong observations \u2013", "Here is a general formula that tells you the Call option P&L for a given spot price \u2013", "P&L = Max [0, (Spot Price \u2013 Strike Price)] \u2013 Premium Paid", "Going by the above formula, let\u2019s evaluate the P&L for a few possible spot values on expiry \u2013", "The solution is as follows \u2013", "@2023", "= Max [0, (2023 \u2013 2050)] \u2013 6.35", "= Max [0, (-27)] \u2013 6.35", "= 0 \u2013 6.35", "= \u2013 6.35", "The answer is in line with Generalization 1 (loss restricted to the extent of premium paid).", "@2072", "= Max [0, (2072 \u2013 2050)] \u2013 6.35", "= Max [0, (+22)] \u2013 6.35", "= 22 \u2013 6.35", "= +15.65", "The answer is in line with Generalization 2 (Call option gets profitable as and when the spot price moves over and above the strike price).", "@2055", "= Max [0, (2055 \u2013 2050)] \u2013 6.35", "= Max [0, (+5)] \u2013 6.35", "= 5 \u2013 6.35", "= -1.35", "So, here is a tricky situation, the result what we obtained here is against the 2nd generalization. Despite the spot price being above the strike price, the trade is resulting in a loss! Why is this so? Also if you observe the loss is much lesser than the maximum loss of Rs.6.35/-, it is in fact just Rs.1.35/-. To understand why this is happening we should diligently inspect the P&L behavior around the spot value which is slightly above the strike price (2050 in this case).", "As you notice from the table above, the buyer suffers a maximum loss (Rs. 6.35 in this case) till the spot price is equal to the strike price. However, when the spot price starts to move above the strike price, the loss starts to minimize. The losses keep getting minimized till a point where the trade neither results in a profit or a loss. This is called the breakeven point.", "The formula to identify the breakeven point for any call option is \u2013", "B.E = Strike Price + Premium Paid", "For the Bajaj Auto example, the \u2018Break Even\u2019 point is \u2013", "= 2050 + 6.35", "= 2056.35", "In fact let us find out find out the P&L at the breakeven point", "= Max [0, (2056.35 \u2013 2050)] \u2013 6.35", "= Max [0, (+6.35)] \u2013 6.35", "= +6.35 \u2013 6.35", "= 0", "As you can see, at the breakeven point we neither make money nor lose money. In other words, if the call option has to be profitable it not only has to move above the strike price but it has to move above the breakeven point.", "", "So far we have understood a few very important features with respect to a call option buyer\u2019s payoff; I will reiterate the same \u2013", "Interestingly, all these points can be visualized if we plot the chart of the P&L. Here is the P&L chart of Bajaj Auto\u2019s Call Option trade \u2013", "", "From the chart above you can notice the following points which are in line with the discussion we have just had \u2013", "Again, from the graph one thing is very evident \u2013 A call option buyer has a limited risk but unlimited profit potential. And with this I hope you are now clear with the call option from the buyer\u2019s perspective. In the next chapter we will look into the Call Option from the seller\u2019s perspective.", "Dear sir,\nCan you explain how the premium of call options got diluted while nearing the expiry ? Is there ant formula ?", "Time decay besides other factors. We will talk about all of these things eventually in this module. Request you to stay tuned.", "Hi I wanted to know if we buy 8600 PE at 15 ,75 quantity is the minimum required so how much I have to pay to get those shares and what ij case if it goes down to 5 rupees what will be the total loss .. can u pls reply on this as it will be really helpful", "You will have to pay 15 * 75 = 1125. If it goes to 5, then the value will be 5*75 = 375 and your loss will be 750.", "Sir,I bought ACC AUG 1840 CE 1 LOT(400) @ 33 Rps and now would lkie to sell @ 40 today so please help me,what will be my profit and will I lose all my 13200 if I sell today as ACC CMP is 1816 now?", "You will make a profit of 7 per unit. Since lot size is 400, your total loss would be 400*7 = 2800", "Hi,", "Just observed 1 point above so the same is posting below:-", "Question by one of the member \u2013 Sir,I bought ACC AUG 1840 CE 1 LOT(400) @ 33 Rps and now would lkie to sell @ 40 today so please help me,what will be my profit and will I lose all my 13200 if I sell today as ACC CMP is 1816 now?", "My view \u2013 I think he will make profit of 7*400=2800 if sell before expiry.\nRemarks \u2013 excluding question regarding ACC CMP 1816.", "Yup, he basically makes the difference between the premium he paid and will receive, multiply that with lot size. So 40-33 = 7 and 7*400 = 2800.", "Hi Karthik", "With regards to the earlier query from another member, please could you assist on my query.", "Sir,I bought ACC AUG 1840 CE 1 LOT(400) @ 33 Rps and now would lkie to sell @ 40 today so please help me,what will be my profit and will I lose all my 13200 if I sell today as ACC CMP is 1816 now?", "1. Is is possible for the premium to increase to 40 when the underlying value comes down to 1816?\n2. Should i look out for the increase in premium to consider that i will be in profit or should look out for the underlying value as well?\n3. Wouldn\u2019t the total loss be 13200 as the underlying value is below the strike price?", "Thank you in advance", "You bought the option at 33 and selling the same at 40, which means your profit will be Rs.7, multipled by 400 which is 2800. When you sell the option, you will get 40*400 = 16000, which includes the premium and the profit.", "1) Yes, for this to happen the volatility should also increase. This is explained later in the module\n2) If it is a short-term trade, focus on the premium\n3) No.", "I knew that CE and PE are to be bought, never sold for huge risk of loss is involved. So forget selling options altogether. If my view is price will go up, I have to buy CE and if my view is price will go down I have buy PE. Be it PE or CE, I have to buy of the strike price which is at the near by value of CMP. Expiry of current month options is always on the last Thursday that month. My questions are \u201d 1-Can I first buy and then sell PE or CE from last Friday of current to last Thursday of next month at any time in the live market hours?\u201d\n2- \u201d I bought CE on last Friday of current month. Lot 75. Premium 150. I paid 11250. Mon, Tue, Wed. On Wed Premium is 250 on live chart of my that CE. Can I sell or not? If yes is my profit= 75(250-150)=75*100=7500 ( including brokerage+ charges)?\n3- If I have to day trading of options (only first buy then sell of PE and CE) I need lot size * current premium as capital. For buy today and sell on any day any time before expiry, do I need same capital to buy now? Means lot size * current premium of that option?", "1) Yes, you can.", "2) Yes, you can. Yes, you make 100 in profit", "3) Yes, it is the same. No additional margins for buying options. Check this \u2013 http://zerodha.com/z-connect/tradezerodha/margin-requirements/zerodha-margin-policies", "Dear Sir,\n If i am able to sell my option before expiry then what do you mean when you say ,\u201d Here is an important point to note \u2013 you can exercise the option only on the day of the expiry and not anytime before the expiry.\u201d", "Exercising an option is only on the day of expiry. However, you can buy and sell the premium at any time frequency.", "As you are saying \u201cExercising an option is only on the day of expiry. However, you can buy and sell the premium at any time frequency\u201d\u2026.. that means we may not get profit sometime when even price of the stock increased but its premium price not\u2026before expiry\u2026!!!!", "Think of the premium in terms of buying and selling a stock. You make a profit as long as you buy at a lower price and sell at a higher price.", "EX: A Bajaj AUTO option Contract lot of 500 CE strike price 2950 bought on on 15 march at premium 45, expiring on 28 march now premium got increased to 52 and spot price is 2951. If i sell my premium at 52 i will make of 7 rupees on premium and do i have anything to do with spot price at the time of selling my premium and also at the time of expiry date. If spot price increases to 3000 do i incur into any losses.", "No, you just have to sell it and pocket the premium of 52. Your profit will be 45-52 = 7.", "how do i put stop loss i have brought options in normal orderand its in profit but i want to trail stop loss so i dont lose profit in case market turns so how do i put stop loss in this scenario\n2) howdo i put stop loss after i have brought options\nty", "You can do this by placing a regular stop loss and then you can keep modifying the limit price as and when the premium goes higher.", "Hi Karthik, Do we have facility in PI to see payoff charts since it\u2019s required when we play on option strategies (straddle,strangle etc.) ?\nThanks,\nAshish", "No, I dont think so, but we are exploring an idea similar to what you have mentioned.", "How to calculate break even point in real market\nWhich price take as strike price day starting share price or close price\nAnd which premium price I take month starting or take everyday different premium prices\nPlz explain it with real market example", "Breakeven point is = Strike + Premium paid. It is the same in theoretical and practical world.As I have mentioned in the chapter, selecting the strike price requires some amount of background knowledge on options theory, towards the end of this module you will get a fair understanding on the same.", "Sir, Toaday I bought 8600CE at 75/- Pr. and sold at 85/- with a profit of 10/-per lot. Iam unable to understand, as per formula Break even pt. Strike price + Pr.( 8600+75) indicates nifty should trade above 8675 to be in profit. but I have already got 10/- profit per lot even though nifty not even crossed 8500. Pl. explain. Thanks", "Regards", "I too had a same question similar to Rama Devi. Can you please explain ?", "Rama / Suren \u2013 The break even point is applicable only if you hold the option till expiry. It is not applicable during the series.", "Hi rama,\nYou said you made a profit of Rs 10 per lot. so here if you have bought one lot what is your total profit ?. Is it 10 rupees or 75*10 = 750 rupees (taking lot size of nifty is 75).", "Answering on behalf of Rama \u2013 yes, it would be 75*10 = 750.", "Dear Sir,\nAppreciated for your efforts in teaching for novice traders/investors, I have a doubt; As stated in the above chapter, on 26.03.15 Bajaj Auto 2050CE is at Rs.6.35/- while stock is trading at 2026.90 , today at 3.15pm stock trading at 2025.10 but 2050CE trading at Rs.50/- i.e a profit of Rs. 43.65 per lot. Hence, what is the role of breakeven point, as per rule buyer of 2050 CE option would be in profit only when stock price trades above 2050+6.35= 2056.35. Pl. clarify. Regards", "Dear Sir, On my above query, I have noted that expiry dates differs, still my question remains same, if we take todays Nifty 8600 CE of April is low 72.50 and at 3.20Pm is Rs. 114.90. If I bought the same CE option when it is at a premium of 80/- and closed at 110/- for a profit of 30/- per lot at the same time Nifty is trading at 8492 Spot. Please clarify.", "As I mentioned, during the series, the profitability depends on many other factors. We will get to that as we progress through this module. Request you to stay tuned \ud83d\ude42", "Two things Kishore \u2013", "1) As you have noted it correctly (in your next message) you are looking at two different expiry series. Hence the huge difference.", "2) The break-even point we are discussing in this chapter is \u2018Upon Expiry\u2018. During the series besides the breakeven point there are other important factors that will determine the profitability of the trade. More on these factors when we take up option geeks.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2015/03/Image-1_Bajaj-Auto-stock-price.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/Image-2_Bajaj-Auto.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/M5-Ch3-title.png", "http://zerodha.com/varsity/wp-content/uploads/2015/03/Image-3_Payoff.jpg", "https://secure.gravatar.com/avatar/ccb6c77fb30c52dc05eec2df86f07a36?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/19b225d6a50f246148ea7ab9f1aa7929?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e7ef3182a1a7126bdef252e9de2d4c6c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c95314be40e8db3b6b1e82d733ef0d8e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3a63fea3e5f3e0db62f68d4153d12653?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/31fe9f28a0a7f5229f20f6210e86f6c0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1931428a6d9383327fec3fe027ab34ac?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2ab515b221d290d868dbb32f803cd2a4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b8b7acc26923025e6fecd2e60bbd4d51?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6d95fbe44fc19fb9d142e41cb3f247da?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d72351adeb83930615112b5da865c5d7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/01473c2d9d6e6d18942c77b82944155d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5fdfe045057fb19887e51c5d9113bea1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a79ac2c6c9fb6325411613bc7ed6f34c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/41c2a8e00e007aa5c4f773d15ca4ccc0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/fb9cbed9d258a783511c9aa844c70469?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/fb9cbed9d258a783511c9aa844c70469?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<tbody>\n<tr class=\"tableizer-firstrow\">\n<th>Serial No.</th>\n<th>Possible values of spot</th>\n<th>Premium Paid</th>\n<th>Intrinsic Value (IV)</th>\n<th>P&amp;L (IV + Premium)</th>\n</tr>\n<tr>\n<td>01</td>\n<td>1990</td>\n<td>(-) 6.35</td>\n<td>1990 \u2013 2050 = 0</td>\n<td>= 0 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 6.35</span></td>\n</tr>\n<tr>\n<td>02</td>\n<td>2000</td>\n<td>(-) 6.35</td>\n<td>2000 \u2013 2050 = 0</td>\n<td>= 0 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 6.35</span></td>\n</tr>\n<tr>\n<td>03</td>\n<td>2010</td>\n<td>(-) 6.35</td>\n<td>2010 \u2013 2050 = 0</td>\n<td>= 0 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 6.35</span></td>\n</tr>\n<tr>\n<td>04</td>\n<td>2020</td>\n<td>(-) 6.35</td>\n<td>2020 \u2013 2050 = 0</td>\n<td>= 0 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 6.35</span></td>\n</tr>\n<tr>\n<td>05</td>\n<td>2030</td>\n<td>(-) 6.35</td>\n<td>2030 \u2013 2050 = 0</td>\n<td>= 0 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 6.35</span></td>\n</tr>\n<tr>\n<td>06</td>\n<td>2040</td>\n<td>(-) 6.35</td>\n<td>2040 \u2013 2050 = 0</td>\n<td>= 0 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 6.35</span></td>\n</tr>\n<tr>\n<td>07</td>\n<td>2050</td>\n<td>(-) 6.35</td>\n<td>2050 \u2013 2050 = 0</td>\n<td>= 0 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 6.35</span></td>\n</tr>\n<tr>\n<td>08</td>\n<td>2060</td>\n<td>(-) 6.35</td>\n<td>2060 \u2013 2050 = 10</td>\n<td>= 10 +(-6.35) = <span style=\"color: green;\">+ 3.65</span></td>\n</tr>\n<tr>\n<td>09</td>\n<td>2070</td>\n<td>(-) 6.35</td>\n<td>2070 \u2013 2050 = 20</td>\n<td>= 20 +(-6.35) = <span style=\"color: green;\">+ 13.65</span></td>\n</tr>\n<tr>\n<td>10</td>\n<td>2080</td>\n<td>(-) 6.35</td>\n<td>2080 \u2013 2050 = 30</td>\n<td>= 30 +(-6.35) = <span style=\"color: green;\">+ 23.65</span></td>\n</tr>\n<tr>\n<td>11</td>\n<td>2090</td>\n<td>(-) 6.35</td>\n<td>2090 \u2013 2050 = 40</td>\n<td>= 40 +(-6.35) = <span style=\"color: green;\">+ 33.65</span></td>\n</tr>\n<tr>\n<td>12</td>\n<td>2100</td>\n<td>(-) 6.35</td>\n<td>2100 \u2013 2050 = 50</td>\n<td>= 50 +(-6.35) = <span style=\"color: green;\">+ 43.65</span></td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<tbody>\n<tr class=\"tableizer-firstrow\">\n<th>Serial No.</th>\n<th>Possible values of spot</th>\n<th>Premium Paid</th>\n<th>Intrinsic Value (IV)</th>\n<th>P&amp;L (IV + Premium)</th>\n</tr>\n<tr>\n<td>01</td>\n<td>2050</td>\n<td>(-) 6.35</td>\n<td>2050 \u2013 2050 = 0</td>\n<td>= 0 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 6.35</span></td>\n</tr>\n<tr>\n<td>02</td>\n<td>2051</td>\n<td>(-) 6.35</td>\n<td>2051 \u2013 2050 = 1</td>\n<td>= 1 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 5.35</span></td>\n</tr>\n<tr>\n<td>03</td>\n<td>2052</td>\n<td>(-) 6.35</td>\n<td>2052 \u2013 2050 = 2</td>\n<td>= 2 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 4.35</span></td>\n</tr>\n<tr>\n<td>04</td>\n<td>2053</td>\n<td>(-) 6.35</td>\n<td>2053 \u2013 2050 = 3</td>\n<td>= 3 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 3.35</span></td>\n</tr>\n<tr>\n<td>05</td>\n<td>2054</td>\n<td>(-) 6.35</td>\n<td>2054 \u2013 2050 = 4</td>\n<td>= 4 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 2.35</span></td>\n</tr>\n<tr>\n<td>06</td>\n<td>2055</td>\n<td>(-) 6.35</td>\n<td>2055 \u2013 2050 = 5</td>\n<td>= 5 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 1.35</span></td>\n</tr>\n<tr>\n<td>07</td>\n<td>2056</td>\n<td>(-) 6.35</td>\n<td>2056 \u2013 2050 = 6</td>\n<td>= 6 + (\u2013 6.35) = <span style=\"color: red;\">\u2013 0.35</span></td>\n</tr>\n<tr>\n<td>08</td>\n<td>2057</td>\n<td>(-) 6.35</td>\n<td>2057 \u2013 2050 = 7</td>\n<td>= 7 +(- 6.35) = <span style=\"color: green;\">+ 0.65</span></td>\n</tr>\n<tr>\n<td>09</td>\n<td>2058</td>\n<td>(-) 6.35</td>\n<td>2058 \u2013 2050 = 8</td>\n<td>= 8 +(- 6.35) = <span style=\"color: green;\">+ 1.65</span></td>\n</tr>\n<tr>\n<td>10</td>\n<td>2059</td>\n<td>(-) 6.35</td>\n<td>2059 \u2013 2050 = 9</td>\n<td>= 9 +(- 6.35) = <span style=\"color: green;\">+ 2.65</span></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "2. Basic Option Jargons", "text": ["In the previous chapter, we understood the basic call option structure. The idea of the previous chapter was to capture a few essential \u2018Call Option\u2019 concepts such as \u2013", "In the next chapter i.e. Call Option (Part 2), we will attempt to understand the call option in a bit more detail. However before we proceed further let us decode a few basic option jargons. Discussing these jargons at this stage will not only strengthen our learning, but will also make the forthcoming discussion on the options easier to comprehend.", "Here are a few jargons that we will look into \u2013", "Do remember, since we have only looked at the basic structure of a call option, I would encourage you to understand these jargons only with respect to the call option.", "Strike Price", "", "Consider the strike price as the anchor price at which the two parties (buyer and seller) agree to enter into an options agreement. For instance, in the previous chapter\u2019s \u2018Ajay \u2013 Venu\u2019 example the anchor price was Rs.500,000/-, which is also the \u2018Strike Price\u2019 for their deal. We also looked into a stock example where the anchor price was Rs.75/-, which is also the strike price. For all \u2018Call\u2019 options the strike price represents the price at which the stock can be bought on the expiry day.", "For example, if the buyer is willing to buy ITC Limited\u2019s Call Option of Rs.350 (350 being the strike price) then it indicates that the buyer is willing to pay a premium today to buy the rights of \u2018buying ITC at Rs.350 on expiry\u2019. Needless to say he will buy ITC at Rs.350, only if ITC is trading above Rs.350.", "In fact here is a snap shot from NSE\u2019s website where I have captured different strike prices of ITC and the associated premium.", "", "The table that you see above is called an \u2018Option Chain\u2019, which basically lists all the different strike prices available for a contract along with the premium for the same. Besides this information, the option chain has a lot more trading information such as Open Interest, volume, bid-ask quantity etc. I would suggest you ignore all of it for now and concentrate only on the highlighted information \u2013", "Underlying Price", "", "As we know, a derivative contract derives its value from an underlying asset. The underlying price is the price at which the underlying asset trades in the spot market. For example in the ITC example that we just discussed, ITC was trading at Rs.336.90/- in the spot market. This is the underlying price. For a call option, the underlying price has to increase for the buyer of the call option to benefit.", "Exercising of an option contract", "", "Exercising of an option contract is the act of claiming your right to buy the options contract at the end of the expiry. If you ever hear the line \u201cexercise the option contract\u201d in the context of a call option, it simply means that one is claiming the right to buy the stock at the agreed strike price. Clearly he or she would do it only if the stock is trading above the strike. Here is an important point to note \u2013 you can exercise the option only on the day of the expiry and not anytime before the expiry.", "Hence, assume with 15 days to expiry one buys\u00a0ITC 340 Call option when ITC is trading at 330 in the spot market. Further assume, after he buys the 340 call option, the stock price increases to 360 the very next day. Under such a scenario, the option buyer cannot ask for a settlement (he cannot exercise) against the call option he holds. Settlement will happen only on the day of the expiry, based on the price the asset is trading in the spot market on the expiry day.", "Option Expiry", "", "Similar to a futures contract, options contract also has expiry. In fact both equity futures and option contracts expire on the last Thursday of every month. Just like futures contracts, option contracts also have the concept of current month, mid month, and far month. Have a look at the snapshot below \u2013", "", "This is the snapshot of the call option to buy Ashok Leyland Ltd at the strike price of Rs.70 at Rs.3.10/-. As you can see there are 3 expiry options \u2013 26th March 2015 (current month), 30th April 2015 (mid month), and 28th May 2015 (far month). Of course the premium of the options changes as and when the expiry changes. We will talk more about it at an appropriate time. But at this stage, I would want you to remember just two things with respect to expiry \u2013 like futures there are 3 expiry options and the premium is not the same across different expiries.", "Option Premium", "", "Since we have discussed premium on a couple instances previously, I guess you would now be clear about a few things with respect to the \u2018Option Premium\u2019. Premium is the money required to be paid by the option buyer to the option seller/writer. Against the payment of premium, the option buyer buys the right to exercise his desire to buy (or sell in case of put options) the asset at the strike price upon expiry.", "If you have got this part clear till now, I guess we are on the right track. We will now proceed to understand a new perspective on \u2018Premiums\u2019. Also, at this stage I guess it is important to let you know that the whole of option theory hinges upon \u2018Option Premium\u2019. Option premiums play an extremely crucial role when it comes to trading options. Eventually as we progress through this module you will see that the discussions will be centered heavily on the option premium.", "Let us revisit the \u2018Ajay-Venu\u2019 example, that we took up in the previous chapter. Consider the circumstances under which Venu accepted the premium of Rs.100,000/- from Ajay \u2013", "Now let us consider both these points in isolation and figure out the impact it would have on the option premium.", "News \u2013 When the deal was done between Ajay and Venu, the news was purely speculative, hence Venu was happy to accept Rs.100,000/- as premium. However for a minute assume the news was not speculative and there was some sort of bias. Maybe there was a local politician who hinted in the recent press conference that they may consider a highway in that area. With this information, the news is no longer a rumor. Suddenly there is a possibility that the highway may indeed come up, albeit there is still an element of speculation.", "With this in perspective think about this \u2013 do you think Venu will accept Rs.100,000/- as premium? Maybe not, he knows there is a good chance for the highway to come up and therefore the land prices would increase. However because there is still an element of chance he may be willing to take the risk, provided the premium will be more attractive. Maybe he would consider the agreement attractive if the premium was Rs.175,000/- instead of Rs.100,000/-.", "Now let us put this in stock market perspective. Assume Infosys is trading at Rs.2200/- today. The 2300 Call option with a 1 month expiry is at Rs.20/-. Put yourself in Venu\u2019s shoes (option writer) \u2013 would you enter into an agreement by accepting Rs.20/- per share as premium?", "If you enter into this options agreement as a writer/seller, then you are giving the right (to the buyer) of buying Infosys option at Rs. 2300 one month down the lane from now.", "Assume for the next 1 month there is no foreseeable corporate action which will trigger the share price of Infosys to go higher. Considering this, maybe you may accept the premium of Rs.20/-.", "However what if there is a corporate event (like quarterly results) that tends to increase the stock price? Will the option seller still go ahead and accept Rs.20/- as the premium for the agreement? Clearly, it may not be worth to take the risk at Rs.20/-.", "Having said this, what if despite the scheduled corporate event, someone is willing to offer Rs.75/- as premium instead of Rs.20/-? I suppose at Rs.75/-, it may be worth taking the risk.", "Let us keep this discussion at the back of our mind; we will now take up the 2nd point i.e. \u2018time\u2019", "When there was 6 months time, clearly Ajay knew that there was ample time for the dust to settle and the truth to emerge with respect to the highway project. However instead of 6 months, what if there was only 10 days time? Since the time has shrunk there is simply not enough time for the event to unfold. Under such a circumstance (with time not being on Ajay\u2019s side), do you think Ajay will be happy to pay Rs.100,000/- premium to Venu?. I don\u2019t think so, as there is no incentive for Ajay to pay that kind of premium to Venu. Maybe he would offer a lesser premium, say Rs.20,000/- instead.", "Anyway, the point that I want to make here keeping both news and time in perspective is this \u2013 premium is never a fixed rate. It is sensitive to several factors. Some factors tend to increase the premium and some tend to decrease it, and in real markets, all these factors act simultaneously affecting the premium. To be precise there are 5 factors (similar to news and time) that tends to affect the premium. These are called the \u2018Option Greeks\u2019. We are too early to understand Greeks, but will understand the Greeks at a much later stage in this module.", "For now, I want you to remember and appreciate the following points with respect to option premium \u2013", "If you have gathered and understood these points so far, I can assure that you are on the right path.", "Options Settlement", "", "Consider this Call option agreement \u2013", "", "As highlighted in green, this is a Call Option to buy JP Associates at Rs.25/-. The expiry is 26th March 2015. The premium is Rs.1.35/- (highlighted in red), and the market lot is 8000 shares.", "Assume there are 2 traders \u2013 \u2018Trader A\u2019 and \u2018Trader B\u2019. Trader A wants to buy this agreement (option buyer) and Trader B wants to sell (write) this agreement. Considering the contract is for 8000 shares, here is how the cash flow would look like \u2013", "Since the premium is Rs.1.35/- per share, Trader A is required to pay the total of", "= 8000 * 1.35", "= Rs.10,800/- as premium amount to Trader B.", "Now because Trader B has received this Premium form Trader A, he is obligated to sell Trader A 8000 shares of JP Associates on 26th March 2015, if Trader A decides to exercise his agreement. However, this does not mean that Trader B should have 8000 shares with him on 26th March. Options are cash settled in India, this means on 26th March, in the event Trader A decides to exercise his right, Trader B is obligated to pay just the cash differential to Trader A.", "To help you understand this better, consider on 26th March JP Associates is trading at Rs.32/-. This means the option buyer (Trader A) will exercise his right to buy 8000 shares of JP Associates at 25/-. In other words, he is getting to buy JP Associates at 25/- when the same is trading at Rs.32/- in the open market.", "Normally, this is how the cash flow should look like \u2013", "Another way to look at it is that the option buyer is making a profit of Rs.7/- per shares (32-25) per share. Because the option is cash settled, instead of giving the option buyer 8000 shares, the option seller directly gives him the cash equivalent of the profit he would make. Which means Trader A would receive", "= 7*8000", "= Rs.56,000/- from Trader B.", "Of course, the option buyer had initially spent Rs.10,800/- towards purchasing this right, hence his real profits would be \u2013", "= 56,000 \u2013 10,800", "= Rs.45,200/-", "In fact if you look at in a percentage return terms, this turns out to be a whopping return of 419% (without annualizing).", "The fact that one can make such large asymmetric return is what makes options an attractive instrument to trade. This is one of the reasons why Options are massively popular with traders.", "", "", "Like future price how option price calculated", "Options are priced based on a pricing model called the \u2018Black & Scholes\u2019 option pricing model. We will talk about it at a much later point in this module.", "Hi Karthik, thank you for the very good explanations!\nBelow is my understanding of the options. Please correct if I am wrong.", "In options market, nobody is a permanent seller or buyer for the option unless they hold the option till expiry.\nA new contract gets created when buyer and seller agree on a strike price & premium.\nThe current buyer & seller both can get out of the contract by selling the option to another buyer (by receiving premium) OR buying option from another seller (by paying premium) respectively.", "Both the buyer and seller can square-off their position before expiry, by selling option or buying option respectively.\nTheir profit or loss will depend upon the premium at which they bought and sold their option.", "If they hold onto the option till expiry, for call option, if the spot price is more than strike price, exchange will exercise the option and buyer will receive the difference between spot & strike price. The buyer will be profitable only if this difference is more than the premium paid. If the option gets exercised, the buyer will have to pay higher STT.", "On expiry, for call option, if the spot price is less than strike price, the option will be considered worthless expired.\nThe premium paid will be buyer\u2019s loss and seller\u2019s gain.", "Example:\nSuppose there is only one option seller S1 and two buyers B1 & B2.\nFirst S1 will tries to sell one call option and B1 agrees on premium and strike price. B1 pays the premium to S1 and one new contract gets created. Now both S1 & B1 wait for the spot price to move in their preferred direction and premium will change accordingly.\nNow suppose premium increased and B1 wants to square-off his position by selling this option. A new buyer B2 who wants to enter the contract or Seller S1 who wants to get out of the contract can buy from B1 by paying current premium. If S1 agrees on the premium asked by B1, this contract will get closed. If B2 agrees for premium asked by B1, the contract will just change hands from B1 to B2. B2 will pay the premium to B1. So now B1 is out of the market and S1 & B2 are waiting for spot price/premium to change.\nIf B2 wants to hold this option till expiry, and there are no other buyers in the market for this option, S1 will be forced to hold this option till expiry. On expiry, whether this option will exercise or expire worthless, depends upon spot price on expiry.\nIf the spot price is more than strike price, option will be exercised and if spot price is less than strike price, it will expire worthless.", "In real market, there will be thousands of traders who will create new contracts between each other and depending upon their current profit/loss will either square-off or hold the option till expiry. In general, if the demand for the option is more, new contracts will get created increasing OI and if supply is more, some of the contracts will get closed thereby decreasing OI.", "One correction:\nIf B2 wants to hold this option till expiry, and if there are no other SELLERs in the market for this option, S1 will be forced to hold this option till expiry, since he cannot buy and square-off his position. On expiry, whether this option will get exercised or expire worthless, depends upon spot price on expiry.", "yes Sir!", "I\u2019m happy \u2013 looks like you got all the points correctly, including the one on STT, which many people miss \ud83d\ude42", "Only one correction \u2013 initially S1 and B1 created the contract. When B1 decides to exit the position, the money will get paid to B1 from B2 based on the prevailing premium in the markets. It is important to note here that B1 now transitions to a seller and maybe you can call him S2. There is no direct exchange of money between S1 and B2.", "Thanks for the prompt reply Karthik!\nI have read through all the comments here and understood most of the answers.\nI think, you should create a chapter out of all these Q&A, since some of the questions are repetitive.\nMost of the questions are around square-off before expiry, and what happens on expiry.\nIt will be very much helpful for new readers of Varsity.\nIf you need help, please let me know, I will be very happy to draft Q&A for you.", "Thanks again!", "Thanks for the suggesting and for your generous offer \ud83d\ude42", "I will check with my team here and see what can be done. Thanks.", "Hi Karthik,", "I tried buying few 1 8900 NIFTY call option contracts just to clear a few things in my head because I was unsure how to square-off a contract that I have bought. For squaring-off I clicked the \u2018Square-off\u2019 button on pi.", "1. If instead of clicking the Square-Off button I would have sold 1 lot (25 units) of the same using the \u2018SELL\u2019 button (F2 key) , would that have also meant that I would have \u2018Squared-Off\u2019 my existing position or would that have meant that I would have continued to have 1 contract of 8900 Call Buy option and I would have sold a different 8900 call option? (I hope I make sense). I must tell you that I am very scared of selling options due to the infinite risk associated.", "2. To write options, do we need to click on the \u2018SELL\u2019 button and then proceed?", "3. How do we exercise an option on the last day? Does the exchange automatically do it for us or do we \u2018Square-off\u2019 or Sell?", "On a side note: I was trying to do some intraday premium play on the budget day and once a few days before that. Each time I took a position the market moved in the opposite direction and I lost some money. Apparently it is not as easy to make money in options as a friend told me it would be. It is just amazing how can I keep on taking positions just when the chart reverses. I am hoping I know better by the end of this module \ud83d\ude42", "Appreciate your effort!", "Here are the answers \u2013", "1) To square off you have two options \u2013 either you can select the \u2018square off\u2019 button from Admin positions or your can simply select the contract (8900 Call in your case), press F2 (becuase you were long on 8900 Call) and press submit. When you do so the RMS software is intelligent enough to understand that there is an existing open long position against your client id and hence it will net you off and close all position. So as simple as that. Also imagine you have 1 lot of 8900 call option..you decide to press F2 to square off this open position\u2026but instead of 1 lot you enter 2 lots then the system will square off your 1 long position and create 1 short position.", "2) To write options you will have to select the contract you wish to write and press F2\u2026or simply call your broker and ask him to write, no other way to this \ud83d\ude42", "3) To excersie an option contract that you own you should leave it \u2018just like that to expiry\u2019. Exchange do the rest. However when you have written and option and it is profitable I would advice you to square off the position instead of leaving it to the exchange as it attract taxes. More on this aspect later in the module", "Yeah, options is a little tricky instrument to trade. They are multi dimensions unlike futures where only the direction matters. I hope you will fully appreciate this aspect as we progress in this module\u2026and also, I hope I can convince you that option writing is not really a scary thing, as long as you are fully aware of the circumstances under which you are shorting.", "On the same topic (Saurabh\u2019s)\u2026.the \u201csquare off\u201d button helps close an open position at market price, while placing a contrary order gives you the option (choice) to sell/buy at a \u201climit\u201d price, right? Just confirming an assumption that I\u2019ve made till now.", "Absolutely.", "Sir, Highly appreciated the way you are answering our questions patiently (some appears to be small/silly). I want to clear myself from my doubt that, if I would have bought a call option on 15.03.15 and the premium/ stock price rose rapidly in two days .Can I square off and take profits or shall I have to wait till expiry. some of my freind told it can be squared off on the same day if were in profits. Thanks/Ragards", "You can book your profits as and when you deem appropriate \u2013 this means you can buy an option at 9:15 AM for say Rs.10 and a 9:18 AM the premium goes to Rs.11 and you are happy with Rs.1/- profit you can choose to close your option position. There is no need to wait till expiry.", "I am confused here. Didn\u2019t you say earlier that we cannot exercise our option until expiry?", "Yes thats true, you can exercise options only by expiry, however you can square off your position anytime you wish. Its important to realize that \u2018squaring off\u2019 a position is different from option exercise.", "sir you are doing a great job\u2026 \u201cPriceless\u201d \u2026.. sir it will be great if you can explain the difference between exercising the option and squaring off an option\u2026", "Thanks for the kind words.", "Exercising the option means that you hold the option till expiry. In this case your P&L will depend on the intrinsic value of the option. However you can also choose not to hold the option to expiry\u2026you can trade just the premium. Like buy an option now and sell few minutes later or hold it for few days.", "sir\n as said by you i get aprofit of rs 1 then what happens to my premium. will it be returned", "Yes \u2013 its like this \u2013 you paid Rs.100 as premium, and you received 105 as a premium when you sell the same. So you make a profit of Rs.5.", "Hi Karthik,\nThanks for the module again.. Here is my doubt.\nYou said that the call option can only be settled on the date of expiry. So, if I buy a Call option at a particular premium and the stock rallies before the expiry, Can i close my positions to get the benefit of that rally before the contract expires???", "Yes of course \ud83d\ude42 Also, please see my reply for T Rama Devi\u2019s query.", "Got that. .Thanks sir.. \ud83d\ude42", "Sorry to butt in on an older thread, i\u2019m trying to learn options and regarding this answer, I\u2019ve a doubt\u2026\nWhat does it mean by \u201d call option can only be settled on the date of expiry\u201d, if it can be squared off any time ?? doesn\u2019t it sound contradicting ?", "You can book a profit anytime you wish. If you chose to hold it till expiry, then it will be subjected to settlement from exchange. Settlement will happen based on the price of the option.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "http://zerodha.com/varsity/wp-content/uploads/2015/03/M5-Ch2-I1.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/Image-1_SP.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/M5-Ch2-I2.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/M5-Ch2-I3.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/M5-Ch2-I4.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/Image-2_AL.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/M5-Ch2-I5.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/M5-Ch2-I6.jpg", "http://zerodha.com/varsity/wp-content/uploads/2015/03/Image-3_JP.jpg", "https://secure.gravatar.com/avatar/6d6ab0c5c913264e56f922e4942eb9fc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e5de8e71df98490a274d00bd978c9a40?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e5de8e71df98490a274d00bd978c9a40?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e5de8e71df98490a274d00bd978c9a40?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b4782d5c5a743d32ab4839b96422cbd3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b7504cee0f466113f6e4b61dfb83f49c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5fdfe045057fb19887e51c5d9113bea1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29abaea90bc75362405b2120c828218c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/635f4e55f6969fe6ece524b273184343?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0c098cb8193878e3a763d3f5a9d69f6c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e4e9111fbbf0f50be906f570c498d6e3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e4e9111fbbf0f50be906f570c498d6e3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/10b146f8034da58804ac9ad3ed9d2203?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "2. Pair Trading logic", "text": ["If you have ever been on an interstate highway, then you would have noticed that the highway usually includes the main highway, on which the vehicles zoom by at full speed. On either side of the highway, it is common to find a single road, which is often called the service road. The service road is used to give access to private driveways, shops, houses, industries or farms. These service roads are also known as the local-express lanes. The service road and the highway usually run parallel to each other for the entire length.", "Now imagine this \u2013 assume a new highway and service road is being commissioned. The road contractor has stated the work of laying down the highway and service road. At one point, on this new service road, the contractor encounters a small little tree.\u00a0 Now, for whatever reason, the road contractor decides not chop off the tree but instead circumvent it by taking a small\u00a0deviation from\u00a0the tree and get back on track to run parallel to the highway.", "", "The road gets built this way, and people start using it. What do you make of it?", "If you think about it \u2013 the two roads run parallel to each other, for the entire stretch. At any part, if the highway is inclined, so would the service road. If the highway goes down, so would the service road. If the highway crosses a river, so would the service road. So on and so forth. So for all practical purposes, the two roads \u2018behave\u2019 somewhat identically, except at that point where the tree briefly obstructed the path on the service road.", "Let\u2019s take this a step further and break it down into variables \u2013", "I know this is a weird analogy, but if you can somehow imagine this highway, service road, and that tree, and the parallel relationship between them, then you will (hopefully) understand the underlying philosophy of pair trading.", "So let me attempt to do that.", "Now, just like the two roads (or entities as we defined them) i.e the highway and service road \u2013 think about two companies which are similar, let\u2019s say \u2013 HDFC Bank and ICICI Bank.", "By the way, if you pick up any classic book on Pair Trading, you will come across the example of Coca-Cola and Pepsi. Since they are not listed in India, let\u2019s go ahead with ICICI and HDFC.", "So on and so forth.", "Given the striking similarities between the two banks, whatever change in the business environment affects one bank, the 2nd\u00a0bank should be affected in the same way. For example, if RBI increases the interest rates, then both the banks would be affected the same way and likewise when the rates are lowered.", "Up to this point, we can define \u2013", "Given the above inference, we can make the following conclusion \u2013", "We can generalize this \u2013", "Given there is a well-established relationship between the two companies, considering all else equal, if the stock price of entity 1 moves in a certain direction, then the stock price of entity 2 is also expected to make a similar move. If not, then there could be a trading opportunity.", "For example, all else equal, on a given day, ICICI stock price moves up by X% then given the relationship, HDFC is also expected to move up at least y%, but for whatever reason, assume HDFC stayed flat. Then we can go ahead and claim that ICICI stock price has moved higher than expected when compared to HDFC\u2019s stock price.", "In the arbitrage world \u2013 this translates to buying the cheaper stock i.e HDFC and selling expensive one i.e ICICI.", "In a nutshell, this is the essence of \u2018Pair Trading\u2019.", "Hang on a second \u2013 what about the tree on the service road and its relevance to the whole narration? Well, remember the tree caused the anomaly in an otherwise perfect \u2018parallel\u2019 relationship between the two roads?", "Likewise, in an otherwise perfect relationship between the stock prices of two companies \u2013 an event can trigger a price anomaly \u2013 where the price of stock 1 can deviate from the price of stock 2.", "An anomaly in stock prices gives us an opportunity to trade. The anomaly can happen because of anything \u2013", "Generally speaking, a price anomaly is a local event, which causes the stock price of one company reacts (or overreacts) compared to the other. I prefer to call it a local event because it affects only 1 company in our universe of two stocks\u00a0J", "So the relationship essentially sets the rules on how the two stock prices are related. Therefore, the bulk of the work in pair trading revolves around \u2013", "There are multiple ways to define these relationships between two stocks. However, the two popular techniques are based on\u2013", "Both these techniques are different and sort of elaborate. I intend to discuss both these techniques in Varsity.", "Before we close this chapter \u2013 a quick note on the history of Pair trading.", "The first pair trade was executed by Morgan Stanley in the early 80\u2019s by a trader named Gerry Bamberger. Apparently, Gerry discovered the technique and kept it \u2018proprietary\u2019 for the longest time, until another trader called Nunzio Tartaglia, again from Morgan Stanley, popularized it.", "Nunzio, at that time, had a huge following, considering he was one of the pioneers in \u2018Quant trading\u2019 on Wall Street. In fact, he led Morgan Stanley\u2019s prop trading desk in the 80\u2019s.", "DE Shaw, the famed Hedge Fund, adopted this strategy in its initial days.", "As you may have guessed, pair trading requires you to buy and sell two stock/assets/indices simultaneously. Many familiar with this believe that pair trading is a market neutral strategy. Market neutral, because you are both long and short at the same time. This is grossly wrong, simply because you are essentially long and short on two different stocks.", "To be market neutral, you need to\u00a0be \u2013 long\u00a0and short, on the same underlying, at the same time. A good example here is the calendar spread. In a calendar spread, you are long and short on the same underlying expiring on two different dates.", "Hence, please do not be under the impression that pair trading in market neutral. This is a trading strategy that seeks to take advantage of price differentials between two, related assets.", "By simultaneously buying and selling the two assets, we are trying to profit from the \u201crelative value\u201d of the two securities. For this reason, I\u2019d like to refer to Pair trading as \u2018Relative Value trading\u2019.", "If you think about this, in its pure sense, this is an arbitrage opportunity \u2013 we buy the undervalued security and sell the overvalued security. For this reason, some even call this the Statistical Arbitrage.", "The measurement of \u2018undervalued\u2019 and \u2018overvalued\u2019 is always with respect to the one another \u2013 and the measurement technique is what we will start learning next chapter onwards.", "", "", "", "I am looking into making an algorithmic trading system based on Pairs Trading and this really helps. Thank You", "I needed historical and real-time intraday data and was looking at Global Data Feeds with Zerodha\u2019s Partnership. Saw a sample and noticed that it doesn\u2019t contain Implied Volatility figures min by minute.", "Is Implied Volatility for each stike of stocks required if you want to calculate the Greeks? I don\u2019t think using India VIX\u2019s ticks would be accurate because it is mostly for NIFTY. And even then would be accurate for NIFTY strikes as Volatility Smile can have different rates of increment/decrement?", "Is there any source where IV can be found? Otherwise can we calculate it? Maybe we will need the whohle orderbook for this and thus a Level 2 quote.", "Altough I want to use options. And on constant monitoring, I think some anomalies exits. They don\u2019t exactly behave as theoretical. I think maybe due to real-time variations in the greeks, sometimes more than usual. Wanted to back test some ideas. But can\u2019t find IV values anywhere \ud83d\ude41", "Yeah, IVs is a problem. Btw, I should have mentioned this earlier\u2026NSE puts up the IV on the option chain page, maybe you can start with that for time being. However, its not very consistent.", "Well done Mr.Karthik, I thank you from bottom of my heart for your sincere and effective efforts.", "And I requesting you to plaese make available one more Module on \u201dMutual Funds.\u201d\nHopefully you would consider my request and i will be waiting for it.", "Once again Thank you very much\u2026", "MF is certainly on the cards, will try and do that soon. Thanks.", "Ah, no clean source for IVs, Sujeet. You can calculate it yourself, quite a task considering the math involved. L2 is what you get from the broker \u2013 top 5 bid and ask is L2.", "Brilliant !\nBut the contents are too less about Pair Trading. Advantages and disadvantages should have been included !", "The content on Pair traidng is going to spread across multiple chapters, Keval. So don\u2019t worry!", "Wonderful..Looking ahead for next module.", "Karthik, What is your personal experience on this strategy? I know, what works for you , may not work for someone else\u2026But just out of curiosity asking!", "Its been quite good Ravi. There are few challenges though, will write about it as well.", "Good content but very less content not like option modules :(.", "Waqaar, lots more on pair trading content will come up! This is just the introduction \ud83d\ude42", "Brilliant!!\nGreat work guys cant wait for the next chapter, and seriously waiting for the pdf version of module 9 please make it happen soon\nThank you", "Module 9 PDF will take time, Gouse. The next chapter should be up in 2 weeks time.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/11/M10-C2-Cartoon2.png", "https://secure.gravatar.com/avatar/0a045289b88057cf91794c50fba93a83?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0a045289b88057cf91794c50fba93a83?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2a3b7857230febe5f4c2b9d613e40e80?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4433c6c83bc49fc7f4f60b402587c34e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/18c0ae25dfc9b6c7ee68422080a97242?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a53812f6a57cc97621ba8c442ed36f15?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/8e056295784499d55872d73d41126166?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "3. Pair Trading, Method 1, Chapter 1 (PTM1, C1) -Tracking Pairs", "text": ["Like I had mentioned in the previous chapter, there are two techniques based on which you can pair trade. The first technique that we will discuss starting now, is usually referred to as the correlation based technique. I consider this as a fairly standard approach as many traders get their pair trading handholding of sorts using this approach.", "", "We need to learn few jargons before we get started on the actual technique, so let\u2019s get to that straight. The jargons we will talk about in this chapter are related to tracking pairs. At this stage, I just want you to know what is what. We will connect the dots as we proceed.", "Spreads \u2013 The spread, is perhaps the most versatile jargon used in the trading world. For example, if you are scalping the market then the word spread refers to the Rupee differential between the bid price and the ask price. Now, if you are doing an arbitrage trade, then the word spread refers to the difference between the prices of the same asset across two different markets. In the pair trading world (actually, just correlation-based technique), the word spread refers to the difference between the closing prices of two stocks.", "The spread is calculated as \u2013", "Spread = Closing value of stock 1 \u2013 closing value of stock 2", "Take a look at this \u2013", "", "If I assume GICRE as a stock 1 and ICICIGI as stock 2, then the spread is calculated as \u2013", "Spread = 6.1 \u2013 3.85", "= 2.25", "Please note, both 6.1 and 3.85 represents a change in stock price with respect to the previous close. Also, both the numbers are positive here. Now, for a moment assume, the closing price of ICICIGI was negative 3.85, in this case, the spread would turn out to be \u2013", "6.1-(-3.85)", "= 9.95", "I\u2019ve calculated the spread for the last couple of trading days, this should give you an idea of how the spread \u2018runs\u2019. Also, since I\u2019ve calculated the spread on a daily basis, traders refer to this as the \u2018historical spread\u2019.", "", "As you can see, the spread varies on a daily basis. Also, here is an interesting (general) observation \u2013", "Of course, there are other possible combinations which lead to the expansion of contraction of the spreads. More on this later.", "Differential \u2013 Unlike spreads, the differential measures the difference in the stock prices. The differential measures the absolute difference in the closing stock prices of two stock. The formula is as below \u2013", "Differential = Closing Price of Stock 1 \u2013 Closing Price of Stock 2", "So if a stock 1 has closed at Rs.175 and stock 2 has closed at 232, the differential is \u2013", "175 \u2013 232", "= \u2013 57", "As you may have guessed, you can run this as a time series and calculate this on a daily basis, I\u2019ve done this for GICRE and ICICIGI \u2013", "", "Here is something you need to know about differentials \u2013 if you are using spreads to track pairs, then you can use it on an intraday basis. But unlike spreads, the \u2018differentials\u2019 is not a great technique to track pairs on an intraday basis, its best used at an end of day basis.", "Of course, more on these things later. For now, let\u2019s just focus on busting some jargons.", "Ratio \u2013 I find the ratio bit quite interesting. The ratio is essentially dividing the stock price of stock 1 over the price of stock 2. Or it can be the other way round as well.", "Ratio = Stock Price of stock 1 / stock price of stock 2", "I\u2019ve calculated the ratio of the same two stocks, here is how it looks \u2013", "", "The Ratio as you can see is a bit more consistent (or at least appears) when calculated as a time series. I\u2019ve represented all the three variables on graph \u2013", "", "So what are these things that we just looked at \u2013 spread, differential, and ratios and how are they related to pair trading?", "Well, as you can imagine, these are the different variable which helps us measure or quantify the relationship between two stocks, which we consider as pairs. The graph tells us how the two stocks move with respect to each other. For instance, if we consider the spread, we know it expands if the closing value of S1 is positive and S2 is negative and the spread contracts if the closing value of S1 is positive and S2 is also positive.", "Likewise in the ratio \u2013 the ratio between two stocks decrease if the stock prices of both the stock decline and the ratio increases if the stock prices of both the stocks increases. Of course, there are other variations possible \u2013 for example, the ratio can increase if stock 1 declines heavily and stock 2 stays flat or the other way round. Alternatively, stock 2 can increase a lot more compared to stock 1 or the other way round J", "Confusing isn\u2019t it?", "Hence, for this reason, we need to look at the chart of the variable we are following, the variable could be spread, differential, or the ratio. We need to track the movement of the variable and figure out if the spread is expanding or contracting. This leads us to the next two jargons.", "Divergence \u2013 If the ratio or the spread between the two stocks is expected to move apart or alternatively, you expect the graph to move up, then this translates to something called a divergence. When you expect your variable to diverge, you can make money (or at least attempt to make) by setting up a divergence trade.", "Convergence \u2013 If the ratio or the spread between the two stocks is expected to move closer or alternatively, you expect the graph to move down, then this translates to something called as a convergence. When you expect your variable to converge, you can make money (or at least attempt to make) by setting up a convergence trade.", "Now here is the big question \u2013 what makes you believe the variable can either converge or diverge? When do you decide to set up a trade? What are the triggers? How do you set up a trade? What if the trade does not work out? What is the stop-loss for such trades?", "Well, even before we answer these questions, how do we qualify two stocks as a pair? Just because two stocks belong to the same sector, does that mean they qualify as a pair? For instance, does ICICI Bank and HDFC Bank qualify as a pair because they both belong to private sector banking?", "To qualify two stocks as a pair we need to rely upon the good old statistical measure, called the \u2018Correlation\u2019. I guess, we have discussed correlation multiple times on varsity. Here is a quick explanation \u2013", "Correlation between two variables gives us a sense of how two variables move with respect to each other. Correlation is measured as a number which varies between -1 to +1. For example, if the correlation between two stocks is +0.75, then it tells us two things \u2013", "From the above, we know a correlation of +0.75 suggests that the two variables move not only in the same direction but also tend to move together closely. Note, the correlation does not suggest the extent of the move, all it suggests is that the move in the same direction is likely to happen. For example, if Stock A moves 3%, and the correlation between stock A and stock B is +0.75, then it does not mean that Stock B will also move by 3%, all that the correlation suggests is that Stock B will move up positively, just like Stock A.", "But, there is another twist here \u2013 suppose stock A and Stock B are correlated at 0.75, and the daily average return on Stock A and Stock B is 0.9% a 1.2%, then it can be said that on any given day, if Stock A moves above its daily average return of 0.9%, then stock B is also likely to move higher than its daily average return of 1.2%.", "Likewise, a correlation of -0.75 indicates that the two variables move in opposite direction (-ve sign) but they both tend to move in opposite direction. Suppose stock A moves up by +2.5%, then by virtue of correlation we know that Stock B is likely to come down, but by what degree will it come down will not be known.", "While we are at it, one more point on correlation. This bit is only for those interested in the math part of correlation. The correlation data makes sense only if the data series is \u2018stationary around the mean\u2019. What does this mean? \u2013 Well, it simply means that the data set should be sticking close the average values.", "Keep this line \u2018stationary around the mean\u2019 in the back of your mind, don\u2019t forget it. This will come back to again, when we discuss the 2nd technique to pair trade, much later in this module.", "We will proceed with correlation as a measure to understand how tightly two stocks are coupled. In the next chapter, we will figure out how to calculate two different varieties of correlations.", "For now, I want you to be clear on Spread, Differentials, Ratios, Divergence Trading, Convergence Trading, and Correlations!", "Download the Excel sheet used in this chapter here.", "Things are getting interesting. Thank you!!!", "Any approximation on the number of chapters you are planning for this module?", "69", "I plan to introduce two different technique to pair trade. I\u2019m guessing each technique will have around 6-8 chapters.", "Hello sir\nAs i got it:\nConvergence= i) spread approaches zero (from both the sides ie -ve and +ve) ii) ratio tains to one. iii) graph of spread moves towards y(vertical axis)=0 from y= -ve ie upward and from y= +ve to y=0 ie downward.\nAm i correct?\nThank you", "Yes, Kumar. More on this in the next chapter \ud83d\ude42", "I\u2019m eagerly waiting as usual.\nThank you sir!", "Thanks! Please stay tuned, Kumar.", "Since zerodha is not allowing all stocks for intraday(eventhough they are eligible for intraday),Can we use cnc order type with full margin and square it off on the same day?Will it consider as intraday or stt charges are more???", "Yes, you can use CNC order type and take long(buy) intraday positions and square it off the same day except for Trade to Trade segment stocks. However, you cannot take short positions due to liquidity risk(Read about auction penalties on short delivery here).\nBrokerage, STT and other charges will be charged on intraday basis only", "THANK you faisal sir.I hope zerodha will provide intraday mis order type facility to all stocks.I am loosing opportunities due to this issue.Feeling very sad to say that Iam changing from zerodha\u2026:(", "Please give me the list of all t2t stocks sir.I want full list.", "Sir I\u2019m very excited to see this module live. When you say pairs tracking can be used on intraday basis what does it mean? And while we are on the subject, can you suggest one good book on intraday trading techniques? Thanks a ton.", "It means tracking the variable\u2019s movement on an intraday basis. The variable can be a spread or a ratio, or anything else that we will learn in the future chapters \ud83d\ude42", "Sir what about the book recommendation?", "Regarding?", "I had asked for one book on Intraday trading techniques sir. Can you recommend one? Thanks in advance.", "Have you checked out \u2018Trading for a living\u2019, by Alexander Elder?", "Sir what is the significance of the reference to Jordan Belfort and pairs trading in your tweet?", "Hahah, nothing really. The illustration used in this chapter is Leonardo DiCaprio, so thought we;d say something relevant \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/11/M10-C3-Cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/11/Image-1_spread.png", "https://zerodha.com/varsity/wp-content/uploads/2017/11/Image-2_spreadexcel.png", "https://zerodha.com/varsity/wp-content/uploads/2017/11/Image_diff.png", "https://zerodha.com/varsity/wp-content/uploads/2017/11/Image-3_ratio.png", "https://zerodha.com/varsity/wp-content/uploads/2017/11/Image-4_graphs.png", "https://secure.gravatar.com/avatar/0a045289b88057cf91794c50fba93a83?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1521a39491afd67884e360e16e94c668?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3ff1e54b6ec17ba14be2884a19de6648?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3ff1e54b6ec17ba14be2884a19de6648?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/285df468195f19e0ae9792e05c608683?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6418ff04c282468ef6c3aae8a183f4d0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/285df468195f19e0ae9792e05c608683?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/285df468195f19e0ae9792e05c608683?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "4. PTM1, C2 \u2013 Pair stats", "text": ["I have to mention this at this point. The pair trading technique we are discussing now is discussed in a book called, \u2018Trading Pairs\u2019, by Mark Whistler. I like this book for the fact that it got me hooked to Pair trading and over time as my interest grew, I explored the strategy beyond Mark Whistler\u2019s techniques. Needless to say, I will discuss those techniques later in this module.\u00a0 At this point, my intention is to take you through the exact learning path I underwent learning pair trading.", "Towards the end of the previous chapter, we introduced the concept of correlation and the way one can analyze the correlation values. We will take that discussion forward now and understand how to calculate the correlation between two stocks, on excel. As you may have guessed by now, the calculation of Correlation between two stocks is the key in pair trading.", "For the sake of this example, I\u2019ve considered Axis Bank and ICICI Bank. Both are Private sector banks and have similar business backgrounds, hence intuition says that the two stocks should be highly correlated.", "At this point, I have downloaded the closing price of Axis Bank and ICICI Bank from 4th Dec 2015 to 4th Dec 2017, roughly 2 years of trading data or about 496 data points.", "Before we proceed, a quick note on data \u2013", "", "As you can see from the above image, besides ICICI and Axis, I have also downloaded the data for BPCL, HPCL, and HDFC Bank. You can use this data to build and test other correlations.", "Anyway, at this stage, the only data we have is the date and the closing price of the stock. We will go ahead and calculate the daily returns. I guess you are familiar with the daily return calculation, we have discussed this several time in the previous module.", "The daily return can be calculated as", "= [today\u2019s closing price / previous day\u2019s closing price] \u2013 1", "I\u2019ve calculated this for both ICICI and Axis Bank \u2013", "", "Now, correlation can be calculated on the basis of two parameters \u2013", "The daily closing price correlation requires you to calculate the correlation based on the closing prices of two stock. I\u2019m not a big fan of calculating correlation on closing prices, but then let\u2019s just go ahead and do this for time being.", "To do this in excel, simply use the \u2018=Correl()\u2019, function on the daily closing prices. I\u2019m running this calculation on a new sheet, which is labeled it as \u2018Pair Data\u2019.", "Here is the snapshot \u2013", "", "", "The correlation between the closing prices of ICICI Bank and Axis bank is 0.51. Not particularly a great correlation, but we can live with this for now. Do recollect, our gut said the two banks could be highly correlated as they have similar business backgrounds, but the number is painting a slightly different picture \ud83d\ude42", "We will now run the correlation on the daily % return series for the two stock. I\u2019ve already calculated this % return, I\u2019ll just have to run the correl function now.", "", "", "Again, not a very encouraging number, but that is ok for now.", "Some traders, run the correlation on the absolute per day change calculated as \u2018Today\u2019s stock price \u2013 yesterday\u2019s stock price\u2019. \u00a0Again, I\u2019m not a big fan of this. But let me just go ahead and introduce the same to you \u2013", "", "", "In all the above calculations, I\u2019ve run the correlation of Axis Bank versus ICICI Bank, the results obtained will be same if I had opted to calculate the correlation of ICIC Bank versus Axis. Generally speaking, the correlation between A and B is the same as Correlation between B and A.", "In this method of trading pairs, the correlation number is considered sacred. Ideally speaking, the number should be above 0.75. Clearly, that is not the case with ICICI and Axis, but then as I mentioned earlier, we can live with it.", "In the previous chapter, we discussed three variables concerning the pairs namely the spread, differential, and the ratios. Let us go ahead and calculate these variables on the two stocks we are studying. We will do this on a separate sheet within the same workbook and name the sheet as the \u2018Data Sheet\u2019. Here is the snapshot \u2013", "", "", "The calculation of these variables is quite straightforward, I\u2019ve explained this in the previous chapter.", "Different types of Pair Trading works at different complexities levels. \u00a0We will deal with basic stats for this version of pair trading. Given this, we will now define 3 most commonly used statistic variables.", "I\u2019ll discuss 3 basic statistical terms at this stage. These are basic terms which play a very crucial role in pair trading. I\u2019m fairly certain that you\u2019d have learned these in your high school math, even otherwise this is quite basic and you can pick it up anytime.", "To help you understand these jargons better, I\u2019ve come up with a set of arbitrary runs scored by batsmen across 10 cricket matches \u2013", "", "Mean \u2013 Also called the arithmetic average, represents the average of a set of numbers. You can calculate the average by taking the sum of all the observations by the total number of observations.", "So if I were to find the average in the above example, I\u2019d total up all the scores and divide it by 10 (10 being the total number of observations).", "Mean (Average) = 626/10", "=62.6", "On excel, you can simply use the \u2018=Average ()\u2019 function to calculate the average of any set of numbers.", "Median \u2013 The median number represents the middle number of the data series when the data series is arranged in its numerical order. If there are even set of numbers (which is the case here), then we have to take the average of the middle two numbers to calculate the mean. However, if there are an odd number of data points, then we simply take the middle data point as the median.", "So let me rearrange the data points in its numerical order \u2013", "23, 34, 44, 51, 55, 65, 72, 82, 100, 100", "Since there are even numbers of observation, I\u2019ll take the middle two numbers i.e 55 and 65, their average represents the median.", "Median = (55 + 65)/2", "=60", "The excel function to calculate median is \u2018=Median()\u2019.", "The mean and median when viewed together gives a sense of the trend. More on this later.", "Mode \u2013 The mode of a data series is simply that data point which occurs the most number of times in the series. Clearly, 100 is repeating twice, with no other number appearing more than once, and that makes it the mode of the data series.", "The excel function to calculate Mode is \u2018=Mode()\u2019.", "In the next chapter, we will use these function in excel and understand its relevance to pair trading.", "Download the excel sheet used in this chapter here.", "Stay tuned.", "Thanks for the chapter. Hopefully the next one comes sooner as this feels being left out in the middle \ud83d\ude42", "Does kite give back-adjusted data? I look at weekly chart of infosys and it doesn\u2019t feel like that. Maybe it had crashes (during the dotcom bubble and in 2002-03) but still I don\u2019t feel like it is back adjusted. But YES Bank data is back adjusted.", "Or is it that the back adjusting in Kite starts from a particular year?", "Will we get an option to download the OHLC data from a chart in Kite 3.0 like there is in Pi?", "I understand, but then few readers felt that the content was too long, so trying to shorten the length of the chapter. Yes, whenever corporate action happens, the charts are cleaned up. I\u2019m afraid there is no option to download the data from Kite, yet.", "Will there be download from chart option ever available from Kite as it is from Pi?", "No, not in the near future.", "Sir do you think it would be possible for you to give a list of suggested readings at the end of every module /chapters, so as to help enthusiastic varsity readers like myself? Thanks a ton.", "Sure, makes sense.", "Very excited to hear that sir. That mean you\u2019d be adding the reading list at the end of each module?", "Yes, I\u2019ll do that at the end of the module.", "Hi sir. Sorry for asking again, but did you have time to compile the suggested reading lists for each module? It would it much appreciated. Thanks in advance.", "Not really, Shashidhar. However, if you are interested in Pair Trading, I\u2019d sugges you read \u2018Trading Pairs\u2019, by Mark Whistler first and then read the book written by Ganapathy Vidyamurthy.", "Thanks for the suggestion sir. But I have already read the book by Mark whistler, and it was really good. I just need one more book suggestion. Is there any books that deal with how to trade using news and announcements? Thanks in advance.", "Have you read the book by Alexander Elder, titled \u2013 \u2018Trading for a Living\u2019?", "Sir,\nWhich is the best source to get the data that is clean and adjusted.. and how do we know that it is adjusted and clean or not ??", "I\u2019d suggest you subscribe to an NSE authorized data vendor for this. If you see the stock price suddenly dropping by 50% on a single day, then most likely the data is not clean.", "Sir..\nPlease suggest few names of such vendors which are reliable from your experience..", "Check out \u2018True Data\u2019, I\u2019ve heard they are quite good.", "Hello Karthik,\nIn the data of BPCL, on 13-jul-17 there was -32.93% change in price and on HPCL there was -33.59% change in price. Is this data valid for calculations? I have calculated the correlation between these stocks and got answers which do not match. I have got 0.82 as close price correlation and 0.19 and 0.18 as % change and abs change correlation. When I plotted the chart of spread,differential and ratio I am getting huge spikes on top and bottom of chart near the dates where there is huge price change. What do you think went wrong??", "Ah, I\u2019m afraid the data is not cleaned up for corporate action. Apologies for this.", "What do we have to do in that case? Should we only consider the data after there was huge change in price and calculate for the same?", "You just need to ensure the data is clean. By clean, I\u2019m referring to the data being cleaned for splits and bonuses.", "HELLO SIR", "I have calculated correlation between two closely related stocks pfc and rec.", "closing price correlation was 0.53\nand i was expecting it to be above 0.7.", "Their daily return correlation turned out to be 0.39 which is shocking.", "Between infratel and nifty 50, closing price correlation is 0.74 and daily return is 0.24", "Dont know which figure to believe??", "Yes, correlation numbers can be quite shocking \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/M10-C4-cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-1_Data.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-2_daily-return.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-3_close-correl.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-4_percentage.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-5_abs-change.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-6_pairdata.png", "https://secure.gravatar.com/avatar/0a045289b88057cf91794c50fba93a83?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0a045289b88057cf91794c50fba93a83?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/29e631a28491ea8d03edcf93d41c507b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/94993a95b5c251d95df7587c96e15d00?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/94993a95b5c251d95df7587c96e15d00?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b2d7e165570534b67967d919eb4e9d53?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b2d7e165570534b67967d919eb4e9d53?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/127e039289337d51007458bcfb404fb3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th width=\"77\">Match</th>\n<th width=\"77\">Runs scored</th>\n</tr>\n<tr>\n<td width=\"77\">1</td>\n<td width=\"77\">72</td>\n</tr>\n<tr>\n<td width=\"77\">2</td>\n<td width=\"77\">65</td>\n</tr>\n<tr>\n<td width=\"77\">3</td>\n<td width=\"77\">44</td>\n</tr>\n<tr>\n<td width=\"77\">4</td>\n<td width=\"77\">100</td>\n</tr>\n<tr>\n<td width=\"77\">5</td>\n<td width=\"77\">82</td>\n</tr>\n<tr>\n<td width=\"77\">6</td>\n<td width=\"77\">55</td>\n</tr>\n<tr>\n<td width=\"77\">7</td>\n<td width=\"77\">100</td>\n</tr>\n<tr>\n<td width=\"77\">8</td>\n<td width=\"77\">23</td>\n</tr>\n<tr>\n<td width=\"77\">9</td>\n<td width=\"77\">51</td>\n</tr>\n<tr>\n<td width=\"77\">10</td>\n<td width=\"77\">34</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "5. PTM1, C3 \u2013 Pre trade setup", "text": ["If you have been a regular reader on Varsity, then chances are you\u2019d have come across the discussion on Normal Distribution in the Options Module. If you\u2019re not, then I\u2019d strongly suggest you read up this chapter on Normal distribution.", "This is a very important topic, I\u2019d suggest you spend some time reading about it before you proceed. We will use the concept of Normal Distribution in both the techniques of Pair Trading, i.e the Mark Whistler\u2019s Pair Trading technique, and the other technique we will discuss later on in this module. Given the central role it plays, you should spend time reading about it.", "I\u2019m reproducing the central theme around Normal distribution, this should serve as a quick refresher for people who are familiar with Normal Distribution, but for those who are not, I hope this does not demotivate you from reading the chapter on Normal distribution \u2013", "The general theory around the normal distribution which you should know \u2013", "The following image should help you visualize the above \u2013", "", "Of course, there are other forms in which the data gets distributed \u2013 distribution such as uniform, binomial, exponential distribution etc. This is just for your information.", "In the previous chapter, we discussed three basic statistical metrics namely the Mean, Median, and Mode. We will now calculate these metrics on the pair data i.e the differential, spread, and ratio which we computed in the previous chapter. We will do these calculations using the excel functions.", "Please note, I\u2019m continuing on the excel that we were working on in the previous chapter, needless to say, you can download the updated excel from the link provided towards the end of the chapter.", "The sheet is set up as below \u2013", "", "The Excel functions are as follows \u2013", "And the numbers are as below \u2013", "", "As you may notice, the correlation numbers were calculated in the previous chapter.", "We now have the data setup. We need to add one key variable here and that would be the standard deviation. Again, standard deviation as a concept has been explained in Varsity earlier. I\u2019d suggest you read this chapter\u00a0to understand Standard Deviation better. Here is the summary though \u2013", "Standard Deviation simply generalizes and represents the deviation from the average. Here is the textbook definition of SD \u201cIn statistics, the\u00a0standard deviation\u00a0(SD, also represented by the Greek letter sigma, \u03c3) is a measure that is used to quantify the amount of variation or dispersion of a set of data values\u201d.", "So in a sense, Standard Deviation gives us a sense of variability of the data or in other words, help us understand how widely the data set is spread out. Let me try and put this in the context of the Pair data we are dealing with.", "The differential data which we computed a while ago is something like this \u2013", "", "Together there are 496 differential data points and earlier in this chapter, we have even calculated the average value across these data points i.e 228.52.", "Now, what if I were to ask you to help me understand the variability of these data points from its average value? Or a better question to ask \u2013 why would I need to know the variability of the data points from its average value?", "Well, if we don\u2019t know the variability of the data, then there is no way we can make an intelligent assessment of the behavior of the data set. For example, when the 498th data is generated, we will know if this value is around the mean or within the range it varies.", "This, in fact, forms the crux of pair trading.", "Standard Deviation helps us measure this variation.", "While I personally think standard deviation is good enough, there are traders who would also like to calculate another variable called the \u2018Absolute Deviation\u2019. Both standard deviation and absolute deviation help us understand the variability of the data. But they differ in terms of the way do they data is treated.", "I was looking at the explanation to help you understand the difference between standard deviation and absolute deviation, and I found the following on Investopedia, which I think is quite nice. I\u2019m taking the liberty of reproducing the content here \u2013", "\u201cWhile there are many different ways to measure variability within a set of data, two of the most popular are standard deviation and average deviation. Though very similar, the calculation and interpretation of these two differ in some key ways. Determining range and volatility is especially important in the finance industry, so professionals in areas such as accounting, investing and economics should be very familiar with both concepts.", "Standard deviation is the most common measure of variability and is frequently used to determine the volatility of stock markets or other investments. To calculate the standard deviation, you must first determine the variance. This is done by subtracting the mean from each data point and then squaring, summing and averaging the differences. Variance in itself is an excellent measure of variability and range, as a larger variance reflects a greater spread in the underlying data. The standard deviation is simply the square root of the variance. Squaring the differences between each point and the mean avoids the issue of negative differences for values below the mean, but it means the variance is no longer in the same unit of measure as the original data. Taking the root of the variance means the standard deviation returns to the original unit of measure and is easier to interpret and utilize in further calculations.", "The average deviation, also called the mean absolute deviation, is another measure of variability. However, average deviation utilizes absolute values instead of squares to circumvent the issue of negative differences between data and the mean. To calculate the average deviation, simply subtract the mean from each value, then sum and average the absolute values of the differences. The mean absolute value is used less frequently because the use of absolute values makes further calculations more complicated and unwieldy than using the simple standard deviation.\u201d", "We will go ahead and compute both \u201cStandard Deviation\u201d, and \u201cAbsolute Deviation\u201d for all the three pair data variables.", "By the way, I\u2019m interchanging the Y-axis to Mean, Median, and Mode. The X-axis to Differential, Ratio, and Spread. Given this, the snapshots posted above will be slightly different from the one posted below, hope you won\u2019t mind my clumsy data handling skills J", "", "The excel function to calculate these variables are \u2013", "Standard Deviation \u2013 \u2018=Stdev.p()\u2019", "Absolute Deviation \u2013 \u2018=avedev()\u2019", "The Mean, Median, Mode, Standard Deviation, and Absolute Deviation is also known as the basic descriptive statistics.", "The standard deviation as you know helps us get a sense of the variation in the data. We will now take this a step further and try and quantify the variation. Why do we need to do this, you may ask? Well, this will help us understand the extent of the variation from the mean value. For example, the 498th differential data could be 275, we will exactly know if 275 is way above the mean or way too below the mean.", "With this information, we can choose to either buy the pair or short the pair. Of course, we will get into these details later on. For now, let us focus on quantifying the extent of the variation. In order to quantify the data point, we need to build something called as a standard deviation table.", "The structure of the table is as below \u2013", "", "As you may have guessed, we are now going to calculate the values of 1, 2, and 3 standard deviations above the mean and below the mean, across spread, differential, and the ratio.", "For example, let us just focus on the Spread data for now. The mean of the spread is 0.06. We also know the standard deviation (SD) is 8.075.", "Therefore, the 1st SD above the mean would be \u2013", "0.064 + 8.075 = 8.139", "2nd SD \u2013", "0.064 + (2*8.075) = 16.123", "3rd SD \u2013", "0.064 + (3*8.075) = 24.288", "These are all values above the mean. We can do the same to identify the values below the mean \u2013", "-1 SD \u2013", "0.064 \u2013 8.075 = -8.011", "-2 SD \u2013", "0.064 \u2013 (2*8.075) = -16.086", "-3 SD \u2013", "0.064 \u2013 (3*8.075) = -24.160", "I\u2019ve done the same math across Differential and Ratio. Here is how the table looks \u2013", "", "So if the 498th differential data read 315, then we can quickly understand that the value is around the +2 standard deviation and with 95% confidence you could conclude that there is only 5% chance for the next set of data points to go higher than 315.", "Anyway, at this stage, we have almost all the data that we need to make the assessment of the pair and probably identify if there is an opportunity to trade. In the next chapter, we will go ahead and do this. In fact, I\u2019ll start the next chapter with a quick recap of everything we have discussed so far, this is just to ensure we are all on the same page.", "You can download the excel sheet used in this chapter here.", "Signing of this chapter by wishing you all a very happy Xmas and a happy new year! Hope 2018 brings in wisdom, wealth, and peace your way.", "Simply superb!!!", "Kudos to you Karthik for writing this complex setup in such a lucid manner.\nEagerly waiting for your next chapters on Pair Trading and Option Calendar Setup.", "Any timeline for this two setup completion ? Waiting impatiently for the next chapters:)", "Thanks a million again for the excellent Varsity!!!", "Regards\nDeepu", "Happy to note you liked the content, Deepu.\nUnfortunately, I cannot put a timeline here. I\u2019ll push myself to finish these chapters as soon as possible.", "Thanks Karthik for the reply. When we can see the next chapter:)", "Hopefully by next week!", "How will we know that you have posted the next chapter for pair trading? I think it will be a great idea if you post the updates in your twitter id or any other way that you deem fit.", "Yes, we always update on our official twitter handle \u2013 @zerodhavarsity.", "thank you", "Cheers!", "User registration is not allowed. Reason?", "Which site are you talking about, Rohit.", "This very website zerodha varsity is not allowing new user registrations", "There is no need for registration at all, Rohit. You can post your queries freely.", "Hi Karthik,", "Posted my query under TA module a couple of days ago but not sure if it caught your attention. Thus re-posting it here:", "I place a short trade on TechM Fut(P: 497 SL 513 T: 463) few days ago and below points were matching with the checklist suggested:\n1. Bearish Engulfing (prior trend- UP)\n2. High was a couple of ticks above the resistance\n3. Primary trend of the scrip- Downwards\n4. RRR of 2:1\n5. Volumes: well more than the last 10 days average", "The stoploss as guided was selected the higher of the two wicks, which also happens to be the 52 week high for that scrip and target was the support. I\u2019ve been holding this for 9 trading sessions now but it is constantly giving negative returns and eating away my capital (M2M). Should I continue holding it? Kindly advise\u2026", "Sorry to have missed it, Himanshu.\nI looked at the chart \u2013 the primary trend is upwards. This implies that you need to be quick in booking profits when you take trades in the direction of the secondary trend. Also, your SL has not been reached, so you can technically hold on to it. If I were you, I\u2019d hold but watch for opportunities to book profits and get out, at the earliest.", "Thank You very much for the guidance. Here\u2019s wishing you and team Zerodha great success and milestones in year 2018..:)", "Thank you so much! Wishing you the same \ud83d\ude42", "kartikji\nwishing you a very happy new year.\nnice going\ni m waiting for last one\u2026the co-integration!!\nbest wishes\u2026", "and look back window for all mean, co-relation and co-integration if we r going to use day t/f.", "Thanks and wish you the same, Akash. We are slowly moving towards the co-integration bit, request you to stay tunned \ud83d\ude42", "Hello sir I have query regarding your 9th module\nVariance and covariance matrix\nQuery is \u2013 you calculate scrips covariance with each other scrip which makes it a bit complicated \u2026..\nWhy not choose a common benchmark like nifty 50 and then calculate your covariance with it \u2026.\nPlease let me know if my idea is correct or I need to understand the concept better\nthanks !!!", "Benchmarking with an index provides the Beta of the stock. Along with beta, we also need to know the risk of having multiple stocks in a portfolio or their co-movements. Hence the covariance is required.", "This is amazing, thank you for the amazing work you have done.\nI was just wondering when Nithin and team are going to build the crypto currency exchange for India. I can understand how our government is reacting but I think there is a clear need and with 24 hours trading, I have seen people loosing sleep, you already have solutions which if implemented in crypto trading can do wonders.\nI would love to help in something like that and most importantly I would like to use one.", "Sameer, we would like to deal with regulated assets. Crypto is not, so I\u2019m not sure if this is something we would get into anytime soon. Thanks for offering to help \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/M10C5-Cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-1_ND.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-2_setup.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-3_stast.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-4_diffdata.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-5_stdev.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-6_sd.png", "https://zerodha.com/varsity/wp-content/uploads/2017/12/Image-7_sdcalculated.png", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/8539edc61c551e334dcb12deb2b5fb74?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/8539edc61c551e334dcb12deb2b5fb74?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2471eb58370054d67238e6153d2c4c9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2471eb58370054d67238e6153d2c4c9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/44ba43d097896ac7a811a4f264dbbaa1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/8a1480e7372d2093203ead49fb0bfc74?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "6. PTM1, C4 \u2013 The Density Curve", "text": ["I think a quick recap is justified at this stage, this is to ensure we are all on the same page. I\u2019d strongly recommend you read through the recap, to ensure we are on track. I\u2019ll keep this as a pointwise recap to ensure we don\u2019t digress.", "So this brings us to where we are at this stage. In this chapter, we will go ahead and discuss the density curve and the eventual trigger to pair trade.", "We have come to a stage where we need to stick to one of the variables amongst Spread, Differential, and Ratio. Why just and why not all, you may ask?", "Well, this is to ensure that we are sticking to a regime and not really getting confused with conflicting signals. The reason I\u2019ve introduced all three variables is to showcase that there are three different possibilities. It is up to you as a trader to choose the variable that you are most comfortable with. For example, I personally prefer the ratio over the differential or spread. This is because the ratio kind of captures the market valuation of the stocks since it considers the latest stock price. Besides the ratio also gives us a quick sense of how much of Stock 1 should be bought or sold with respect to stock 2.", "For example, if the price of Stock 1 is 190 and Stock 2 is 80, then the ratio of stock 1 over 2 is \u2013", "190/80", "= 2.375", "This implies for every 1 share of Stock 1, 2.375 shares of Stock 2 has to be transacted. \u00a0We will get to the finer details later, but for now, hope you get the drift.", "You are of course, free to choose any of the variable \u2013 spread, differential, or ratio. However, for the sake of this discussion, I will go ahead with the ratio.", "As the name suggests, the pair consists of two stock. Until now, we have not defined how to buy or sell a pair, we will do that later in this chapter. For now, assume that you can buy or sell a pair just like the way you can buy or sell a single stock.", "As you may have guessed, the decision to buy or sell a pair is dependent on the variable that you track and the variable itself could be the spread, differential, or ratio. For the purpose of this discussion, we are going ahead with the Ratio.", "Think about it this way \u2013 the stock prices change every day, therefore the ratio of the pair itself changes every day. On most of the days, the daily change in the ratio falls within the expected range. However, there could be days when the daily change goes beyond the expected range. These are the days when a pair trading opportunity arises.", "Have a look at the chart below \u2013", "", "Casual eyeballing reveals two obvious information \u2013", "I want you to pause here and think about this. This is the tipping point in Pair trading, if you can understand everything we have discussed up to now, then the rest is a cakewalk.", "The ratio itself is a variable which is derived by dividing stock 1 over stock 2. The ratio changes every day since the stock prices change every day. If you plot the chart of the daily change in the ratio you will notice that the ratio has an average (mean) value and the ratio trades above and below the mean value. Irrespective of where the ratio is today (i.e either above or below the mean) \u2013 there is a great chance that ratio will come back to mean over the next few days. Notice, I use the word \u2018great chance\u2019, here. This means, that we should be able to quantify the probability of the ratio reverting to mean.", "In fact, this phenomenon is referred to as \u2018Mean reversion\u2019 or reversion to mean.", "I\u2019ve circled (in red) two points in the chart where the ratio has deviated away from the mean. The first circle from the left indicates a point where the ratio has deviated higher than the mean value. The 2nd circle from the left indicates a point where the ratio has deviated below the mean value. In both these cases, eventually, the ratio reverted to mean.", "Now, if you look at it in another way \u2013 we now seem to have an opinion on the direction in which the ratio is likely will move. For example, the first circle where the ratio has moved above the average indicates that the ratio is likely to retrace back to mean.\u00a0 Or in other words, you can short the ratio at the high point and buy it back around the mean. Likewise, the second circle points to an opportunity where one can buy the ratio, with an expectation that the ratio will move back to the average value.", "Think about the ratio as a stock or futures. Since the directional movement of the ratio is predictable, we can as well place bets on the directional movement of the ratio itself.", "I hope you are getting the point here.", "The ratio\u2019s value with respect to the mean acts as a key trigger to initiate the trade. If the ratio is \u2013", "Alright \u2013 so far so good. Here are few questions though \u2013", "The answers to these questions lie in something called as the \u2018Density Curve\u2019. Let\u2019s figure that out.", "Have a look at the chart below \u2013", "", "I\u2019ve highlighted 4 points on the chart, at all these points, the ratio has traded above the mean. Assume, you were looking at this chart around the time the first circle is marked. Now, just because the ratio has shot up above the mean, would you take the trade? In fact, the same question can be asked every time the ratio has traded above (or below) the mean.", "I\u2019m sure you\u2019d agree that this would be a great idea. We need to observe the ratio closely and initiate a trade only when the chance of mean reversion is very high. Or in other words, we need to initiate a trade only when we are reasonably certain that the ratio will slide down to the mean value, as quickly as possible.", "", "To put the point across \u2013 this is pretty much like a tiger waiting in the ambush to hunt down a prey. Just because the prey is in the open, the tiger will not jump and ruin its chances of a kill. It will attack only when it is convinced that the effort will lead to a kill.", "So how do we stay in the ambush and wait for our chance for the kill?", "Well, we seek refuge in the good old Normal distribution and its properties. I\u2019m hoping you are aware of normal distribution and its properties by now.\u00a0 Here is a quick recap, I\u2019d suggest you read the complete theory, I\u2019ve discussed this across various chapters in Varsity \u2013", "So here is what this means with respect to the ratio \u2013", "So at every SD, we can estimate the likelihood of the ratio reverting to mean. This means we can filter out opportunities and initiate a trade only at points where the likelihood of success is high.", "This further leads to an interesting take \u2013 the key trigger to initiate a trade is not just based on where the ratio is, but also depended on its standard deviation. Given this, it makes sense to directly track the daily standard deviation of the ratio as opposed to the ratio itself.", "This can be achieved by tracking the \u2018Density Curve\u2019 of the ratio. The density curve is a non-negative value which lies anywhere between 0 and 1. I\u2019d suggest you watch this video on Khan Academy to learn more about Density Curve.", "Calculating the density curve on excel is quite straightforward. Here is how you can do this, have a look at the image below \u2013", "", "You can use the inbuilt excel function called Norm.dist for this. The function requires 4 inputs \u2013", "I\u2019ve calculated the density curve value for all variables, here is how the table looks \u2013", "", "I guess we could break this chapter at this point. In the next chapter, we will look into details on how we can use the density curve to trigger long and short pair trade.", "Download the excel sheet used in this chapter.", "Sir that was a very dense chapter, but your explanation made all the difference. Thank you. I have a question. Going by what I understand, I\u2019d guess the system wouldn\u2019t generate more than 2 or 3 trades per month, assuming we have tracked 3-4 pairs. The opportunity wouldn\u2019t be frequent since other traders would be looking for it too. Am I right in saying that?", "Yes, the pair trading opportunities do not come by often. Also, it really depends on how the kind of technique you are adopting to pair trade. More on this later.", "Sir, can you suggest any indicator which also works as good as TRIN and PCR in zerodha. Thank You", "Each indicator has its own set of pros and cons, hence very difficult to isolate one indicator and call it the best.", "Excellent write-up!!!\nMillion thanks for writing this complex subject in the lucid manner.\nEagerly waiting for your chapter:)", "Thanks once again.", "Please read next chapters:)", "Got it \ud83d\ude42", "Will try and put this up soon \ud83d\ude42", "programming skills in which software would help in trading?", "I\u2019ve heard Python is a great language for traders.", "hello sirji,\ngood enlighten about density curve\u2026i heard about it first time\u2026though doing pair trading since last one and half year when ratio reach to +/- 2 SD\u2026let\u2019s see what will come next!!\nthanks bro\u2026keep it up.", "Glad you liked it \ud83d\ude42 Will try and put up the next chapter as soon as possible.", "I have downloaded DLF 5 years data and placed in price column in excel which you have provided but nothing seems to changed means nothing displays.Please help to sort out this issue.", "Like I said, kindly check if the cells are properly linked.", "Sir..\nCan you please write about quantitative analysis as well..\nParticularly using MS-Excel.", "Planning to write a module on Financial Modelling using MS-Excel.", "Thanks sir..\nThat will be indeed great help\u2026", "Cheers!", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/01/Image-1_Ratio-daily-change.png", "https://zerodha.com/varsity/wp-content/uploads/2018/01/Image-2_DC.png", "https://zerodha.com/varsity/wp-content/uploads/2018/01/M10C6-Cartoon-1.png", "https://zerodha.com/varsity/wp-content/uploads/2018/01/Image-3_DC.png", "https://zerodha.com/varsity/wp-content/uploads/2018/01/Image-4_DCall.png", "https://secure.gravatar.com/avatar/d3bf8afd6aca5e13fcdbaaddc0adc3d5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a64380d4da3e8bba669b5bb25438d84a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3b57428acee6e9a36d4e407bc23857d7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2471eb58370054d67238e6153d2c4c9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5611da7a8ba8bdd7c0f4b02f58ebe9e4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2e4837d8f9acf3aaa5b8cd5ca9606118?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2e4837d8f9acf3aaa5b8cd5ca9606118?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "7. PTM1,C5 \u2013 The Pair Trade", "text": ["We closed the previous chapter with a note on Density curve and how the value of the density curve helps us spot pair trading opportunity. In this chapter, we will work towards identifying and initiating an actual trade and learning other dynamics associated with a pair trade.", "Just as a reminder \u2013 the techniques we have discussed so far in pair trading (i.e from chapter 1 through 7) is from the book called \u2018Trading Pair\u2019, by Mark Whistler. The good part about this technique is the simplicity and the part that I\u2019m not too conformable with this technique is also its simplicity. Over time I\u2019ve improved technique to pair trade, which I will discuss from the next chapter onwards.", "Why not discuss the 2nd method directly, you may ask \u2013 well, this is because I think Mark Whistler method to pair trade lays an excellent foundation and it helps understand the slightly more complex pair trading technique better. So let me attempt to finish the Mark Whistler\u2019s method in this chapter and move to the next method to pair trade.", "Now, because I\u2019ll discuss this other technique to pair trade, I\u2019ll take the liberty to not really get into the nuances of the trade set up. I\u2019ll instead focus on the broad trade set up.", "So let\u2019s get started on it.", "The density curve acts as a key trigger for us to identify an opportunity to trade. I want you to pay attention to the following two things \u2013", "I understand the 2nd statement may confuse some of the readers, but at this point, I\u2019d suggest you keep this statement in mind. You will understand what I mean by this as we proceed.", "Let us spend a little time on the normal distribution, I know we have discussed this multiple times in the past, but bear with me one more time.", "The time series data (like the ratio) typically have an average (or mean) value. For example, the average value for the ratio time series is 1.87 (we calculated this in the earlier chapter). More often than not, the value of the ratio tends to lie around the mean value. If the value of the ratio drifts away from the mean, then one can expect the value of the ratio to gravitate back to the mean.", "For example, if the latest value of the ratio shoots up to 2.5, then over time, one can expect the value of the ratio to fall to 1.87 and likewise if the value of the ratio plummets.", "Now here is a question \u2013 If the ratio drifts away from the mean (which is bound to happen on a daily basis), is there a way wherein we can quantify the probability of the ratio to move back to the mean, again?", "For example, if the latest ratio value is at 2.5, we all know it will fall to a mean of 1.87, but what is the probability of this occurring? Is it 10%, 20% or 90%?", "This is where the density curve comes in handy. The value of the density curve tells us how far, in terms of standard deviation, the ratio has deviated away from its mean. Now, if the value is in terms of standard deviation, then naturally there is a probability assigned to it, and eventually, this probability helps us set up a trade.", "Let me give you a quick example.", "Consider the following data \u2013", "Latest ratio \u2013 2.87", "Ratio Mean \u2013 1.87", "Density curve \u2013 0.92", "Here is how you will interpret this data \u2013 the 0.92 value of the density curve indicates that the latest ratio of 2.87 has approximately deviated to the 2nd standard deviation and there is approximately 95% chance that the ratio of 2.87 will fall back to its average value of 1.87.", "How did we arrive at this? I mean what tells us that the ratio of 2.87 is approximately near the 2nd standard deviation? Well, we infer this by looking at the corresponding density curve value i.e. 0.92.", "The density curve value from 0 to 1 represents the standard deviation values. For example \u2013", "Once I know the standard deviation, I\u2019ll also know the probability.", "But How did I arrive at 0.16, 0.84, 0.997 etc in the first place? Well, these are standard deviation values, I will skip dwelling further into standard deviation, instead give you\u00a0a table which you can use as a ready reckoner \u2013", "Given the above, if I see the density curve value of around 0.19, I know the ratio is around the \u2013 1st standard deviation, hence the probability of the ratio to move back to mean is around 65%. Or if the density curve value is around 0.999, I know the value is around the \u2013 3SD, hence the probability of the ratio to move back to mean is around 99.7%", "So on and so forth.", "", "So, finally, here we are, very close to showcasing our first Pair trade. Few points to remember \u2013", "The trading philosophy is as below \u2013", "So essentially, a pair trader tracks the ratio and its corresponding density curve value. A pair trade is set up when the ratio (and the density curve) has deviated convincingly enough from the mean value.", "This leads us to the next obvious question \u2013 what is convincingly enough? Or in other words, at what value of the density curve, should we initiate the trade?", "Here is a general guideline to set up a pair trade \u2013", "The idea is to initiate a trade (either long or short) when the ratio is between 2nd and 3rd standard deviation and square off the position as it goes below the 2nd standard deviation. Obviously, the closer it goes toward the mean, the higher is your profit.", "Lets set up a trade based on the above table, for this, I\u2019d suggest you download the excel sheet available towards the end of the previous chapter.", "On 25th Oct 2017, the density curve value was 0.05234 and the corresponding ratio value was 1.54. This is a decent long pair trade set up. Although this does not fall within the preview of a long trade (we need the density curve to be between 0.025 and 0.003), I guess this is the best value in the time series we are considering.", "If the ratio is defined as Stock A / Stock B, then \u2013", "We have defined the ratio as Axis / ICIC, hence, on 25th closing, one would \u2013", "The lot size for Axis is 1200, hence the contract value is 1200 * 473 = Rs.567,600/-. The lot size of ICICI Bank is 2750, hence the contract value is Rs.840,675/-.", "Ideally, we need to stay long and short of the same Rupee value. This is also called \u2018Rupee Neutrality\u2019, but I\u2019ll skip this part for now. We will take the concept of Rupee neutrality to a different dimension when we take up the next pair trading technique.", "So, once the trade is set up, we now have to wait for the pair to move towards the mean. Ideally, the best pair trade is when you initiate a trade near the 3rd SD and wait for the ratio to move to the mean, but then this could happen over a long period, and the mark to market could be quite painful. In the absence of deep pockets to accommodate for mark to market, one has to be quick in closing a pair trade.", "On 31st Oct 2017, the ratio moved up to 1.743 and the corresponding density curve value was 0.26103, which is roughly the target density curve value. Hence once can consider closing the trade.", "We Sell Axis Bank @ 523 and buy back ICIC at 300.1. The P&L and other details are as follows \u2013", "", "If you notice, the bulk of the profits comes from Axis Bank, this indicates that Axis Bank had deviated away from the regular trading pattern.", "Not bad eh?", "Let\u2019s look at a short trade now.", "On 9th August 2016, the density curve printed a value of 0.99063156, close enough to initiate a short pair trade. Remember in a short trade, we sell Axis and buy ICICI.", "If you find it confusing to remember which one to buy and sell, think of it this way \u2013 the numerator is the dominating stock, so if the pair trade demands you to go long, then buy the numerator. Likewise, if the pair trade is to short, the short the numerator. Whatever you do with the numerator, the opposite trade happens with the denominator.", "Hence we sell Axis Bank (numerator) and sell ICICI Bank (denominator).", "Trade details are as follows \u2013", "Once initiated, the opportunity close this trade occurred on 8th Sept, (yes, the trade was held open for almost a month). The trade details were \u2013", "Agreed, once could have waited a bit longer to for the density curve to fall further, but then like I said before, the pair trader has to strike a balance between the time and mark to markets.", "The P&L for the trade is as below \u2013", "Again, the bulk of the profit comes from one of the stocks i.e ICICI, indicating that ICICI had probably deviated away from its course.", "I must confess, both the trades did not really fall under the prescribed table giving you the guideline to enter and exit the pair trade. But like I said before, use the table as a reference and build your expertise around it.", "I\u2019d encourage you to look for any other opportunities in the Axis & ICICI Bank example.", "I hope the P&L of pair trade is incentivizing you enough to learn more about pair trading. I\u2019ll deliberately stop here, to ensure you soak in everything that we have discussed. I\u2019ll leave you with few final points.", "Anyway, I hope I\u2019ve managed to ignite your curiosity to learn more on Pair Trading. I\u2019m eager to move forward, I hope you are too!", "Download the excel sheet.", "Sir about the instrument, when you say buy axis bank or icici, are you referring to the stock or its Futures?", "Yes, it is the futures.", "PAIR trading can only be done in Futures.", "It can be done with a combination of futures and spot as well. Will discuss more on this in the following chapters.", "sir i have done tata motor vs tata dvr through method 1. i got density curve 0.65 to 0.67 so when to take position", "When the density curve hits 0.997, I have explained this in the chapter.", "Is it necessary that it will hit 0.997 ?", "It is all about the degree of conviction you\u2019d need \ud83d\ude42", "Hello Karthik\u2026!!", "If i first find correlation between the stocks, then Ratio of the two stocks, Then Average of the Ratio. Than from the Average of the Ratio if i calculate SD1 & 2 (+-) will it work or not\u2026.??", "Yes, in fact, the excel sheet has these calculations.", "One can use http://www.screener.in to find out about companies with similar business.", "Sir can we use pair trading between crude oil and brent oil??", "You certainly can.", "When is the next part of the relative value trading coming out?", "Starting next week, hopefully.", "Hi", "Thank you for your reply, looking forward to the remaining part of the lesson.", "As a request, I would love to get some information on the backtesting part for the pairs trading model. I can help you with any programming help if needed related to that.", "And a big thank you for sharing knowledge \ud83d\ude42", "Arpan, thanks. I will probably put up the guideline for programmers. I will do this for the 2nd part of pair trading. Maybe open this up for all, so that everybody can benefit.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/M10-C7-Cartoon.png", "https://secure.gravatar.com/avatar/d3bf8afd6aca5e13fcdbaaddc0adc3d5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6c0ca57f63c9a201b1d3571899f7d8ef?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e89f1db74875f39be5b4c53004f79053?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/fb28299f432c8a7abde4e2e59d111a06?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5c5c65f3bb6e8cef20f258fb6e373801?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a571459b84b7c022c97ee550d9476328?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a571459b84b7c022c97ee550d9476328?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3a53215f5b2a3b1c94d92f40a3647b2d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3a53215f5b2a3b1c94d92f40a3647b2d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th width=\"139\"><strong>Density Curve value</strong></th>\n<th width=\"240\"><strong>How many Standard deviation away</strong></th>\n<th width=\"210\"><strong>Probability of reverting to mean</strong></th>\n</tr>\n<tr>\n<td width=\"139\">0.16</td>\n<td width=\"240\">\u2013 1 SD</td>\n<td width=\"210\">65%</td>\n</tr>\n<tr>\n<td width=\"139\">0.025</td>\n<td width=\"240\">\u2013 2 SD</td>\n<td width=\"210\">95%</td>\n</tr>\n<tr>\n<td width=\"139\">0.003</td>\n<td width=\"240\">\u2013\u00a0 3 SD</td>\n<td width=\"210\">99.7%</td>\n</tr>\n<tr>\n<td width=\"139\">0.84</td>\n<td width=\"240\">+ 1 SD</td>\n<td width=\"210\">65%</td>\n</tr>\n<tr>\n<td width=\"139\">0.974</td>\n<td width=\"240\">+ 2 SD</td>\n<td width=\"210\">95%</td>\n</tr>\n<tr>\n<td width=\"139\">0.997</td>\n<td width=\"240\">+ 3 SD</td>\n<td width=\"210\">99.7%</td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<th width=\"89\"><strong>Trade Type</strong></th>\n<th width=\"175\"><strong>Trigger (density curve)</strong></th>\n<th width=\"150\"><strong>Standard Deviation</strong></th>\n<th width=\"108\"><strong>Target</strong></th>\n<th width=\"115\"><strong>Stoploss</strong></th>\n</tr>\n<tr>\n<td width=\"89\">Long</td>\n<td width=\"175\">Between 0.025 &amp; 0.003</td>\n<td width=\"150\">Between 2^nd &amp; 3rd</td>\n<td width=\"108\">0.25 or lower</td>\n<td width=\"115\">0.003 or higher</td>\n</tr>\n<tr>\n<td width=\"89\">Short</td>\n<td width=\"175\">Between 0.975&amp; 0.997</td>\n<td width=\"150\">Between 2^nd &amp; 3^rd</td>\n<td width=\"108\">0.975 or lower</td>\n<td width=\"115\">0.997 or higher</td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<th width=\"67\"><strong>Date</strong></th>\n<th width=\"81\"><strong>Stock</strong></th>\n<th width=\"99\"><strong>Trade</strong></th>\n<th width=\"66\"><strong>Lot Size</strong></th>\n<th width=\"108\"><strong>Sq off date</strong></th>\n<th width=\"102\"><strong>Sq off Price</strong></th>\n<th width=\"115\"><strong>P&amp;L</strong></th>\n</tr>\n<tr>\n<td width=\"67\">25^th Oct</td>\n<td width=\"81\">Axis Bank</td>\n<td width=\"99\">Buy @ 473</td>\n<td width=\"66\">1200</td>\n<td width=\"108\">31^st Oct</td>\n<td width=\"102\">Sell @ 523</td>\n<td width=\"115\">50*1200 = 60K</td>\n</tr>\n<tr>\n<td width=\"67\">25^th Oct</td>\n<td width=\"81\">ICICI Bank</td>\n<td width=\"99\">Sell @ 305.7</td>\n<td width=\"66\">2750</td>\n<td width=\"108\">31^st Oct</td>\n<td width=\"102\">Buy @300.1</td>\n<td width=\"115\">5.6*2750 =15.4K</td>\n</tr>\n<tr>\n<td colspan=\"6\" width=\"523\"><strong>Total P&amp;L</strong></td>\n<td width=\"115\"><strong>Rs.75,400/-</strong></td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<th width=\"67\"><strong>Date</strong></th>\n<th width=\"81\"><strong>Stock</strong></th>\n<th width=\"99\"><strong>Trade</strong></th>\n<th width=\"66\"><strong>Lot Size</strong></th>\n<th width=\"90\"><strong>Sq off date</strong></th>\n<th width=\"102\"><strong>Sq off Price</strong></th>\n<th width=\"133\"><strong>P&amp;L</strong></th>\n</tr>\n<tr>\n<td width=\"67\">9^th Aug</td>\n<td width=\"81\">Axis Bank</td>\n<td width=\"99\">Sell @ 574.1</td>\n<td width=\"66\">1200</td>\n<td width=\"90\">8^th Sept</td>\n<td width=\"102\">Buy @ 571</td>\n<td width=\"133\">3.1*1200 = 3.72K</td>\n</tr>\n<tr>\n<td width=\"67\">9^th Aug</td>\n<td width=\"81\">ICICI Bank</td>\n<td width=\"99\">Buy @ 245.3</td>\n<td width=\"66\">2750</td>\n<td width=\"90\">8^th Sept</td>\n<td width=\"102\">Sell @276.33</td>\n<td width=\"133\">31.03*2750 = 85.3K</td>\n</tr>\n<tr>\n<td colspan=\"6\" width=\"505\"><strong>Total P&amp;L</strong></td>\n<td width=\"133\"><strong>Rs.89,052/-</strong></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "8. Pair trade Method 2, Chapter 1 (PTM2, C1) \u2013 Straight line Equation", "text": ["Today happens to be 14th of Feb, people around me are excited about Valentine\u2019s Day, they are busy celebrating love and relationships. I think Valentine\u2019s Day is a packaged affair, meant to boost the revenues of restaurants, jewelers, and gift shops, but then it\u2019s just me and my random thoughts.", "Anyway, given its valentine\u2019s day, I thought it would be a perfect idea to discuss relationships. Don\u2019t worry, I\u2019m not going to bore with a clich\u00e9d love story or give you any unsolicited advice on maintaining a great relationship, rather I\u2019ll talk to you about two sets of numbers and how you can measure the relationship between them if at all there exists one.", "In the process, I\u2019ll attempt to take you back to your school days, well, at least back to your high school math class \u263a", "A quick recap here \u2013 Chapter 1 to 7 of this module, we discussed a rather simple technique of pair trading. This was as taught by Mark Whistler. Moving forward from this chapter, we will discuss a slightly more advanced technique of pair trade. This is also called \u2018Statistical Arbitrage\u2019 or \u2018Relative value trading\u2019 or RVT in short.", "So here we go.", "Do you remember the time your math teacher discussed the equation of a straight line in the class? If you were like me, you\u2019d have promptly ignored the lecture and looked outside of the window, quietly rebelling against the mainstream education.", "But then, if only the teacher had said \u2018learn this, you\u2019ll make money off it someday\u2019, the interest level would have been totally different!", "", "Anyway, life always gives you a second chance, so this time around, pay attention, and hopefully, you will make some money off it \u263a", "The equation of a straight line reads something like this \u2013", "Y = mx + \u03b5", "Click here for a detailed explanation, or continue reading for a barebone explanation.", "Before we discuss the equation, a quick note on the notations used \u2013", "y = Dependent variable", "M = Slope", "X = Independent variable", "E = Intercept", "The equations states, the value of a dependent variable \u2018y\u2019 can be derived from an independent variable \u2018x\u2019, by multiplying x by its slope with y\u2019 and adding the intercept \u2018e\u2019 to this product.", "Sounds confusing? I guess so \u263a", "Let me elaborate on this and by the way before you start thinking why we are discussing the straight line equation instead of relative value trading (RVT), then please be rest assured, this concept has deep relevance to RVT!", "Consider two fitness freaks, let\u2019s call them FF1 and FF2, between the two, FF2 is the kind of guy who wants to go that step extra and something more than what FF1 does. So if FF1 does 5 pushups, FF2 does 10. If FF1 does 20 pull-ups, then FF2 does 40. So on and so forth.\u00a0 \u00a0Here is a table on how many pushups they did Monday to Saturday \u2013", "Now, if you were to guess the number of push-ups FF2 would do on Saturday, what would it be? I guess it\u2019s a no-brainer, it would be 30.", "This also means \u2013 the number of pushups FF2 does, is kind of dependent on the number of pushups FF1 does. FF1 does not really bother about FF2, he will go ahead and do as many pushups his body permits, but FF2, on the other hand, does twice the number of pushup as FF1.", "So this makes FF2 a dependent variable and FF1 an independent variable. Or in the straight line equation, FF2 = y and FF1 = x.", "FF2 = FF1*M + \u025b", "In simple English, the equation reads like this \u2013", "The number of pushups FF2 does is equal to the number of pushups FF1 does, multiplied by a certain number, plus a constant.", "That certain number is called the slope (M), which happens to be 2, and the constant or \u025b happens to be 0. So the equation is \u2013", "FF2 = FF1*2 + 0", "I hope this is fairly clear now. Let me copy paste the definition I had posted earlier \u2013", "The straight line equations states, the value of a dependent variable \u2018y\u2019 can be derived from an independent variable \u2018x\u2019,\u00a0by multiplying x by its slope with y\u2019 and adding the intercept \u2018e\u2019 to this product.", "Now, think about another case \u2013", "There are two hungry men, let\u2019s call them H1 and H2. Just like FF1 and FF2, H2 eats twice the number of paratha as H1 plus 1.5 more. For example, if H1 eats 2 parathas, then H2 will eat 4 plus eat another 1.5. H2 will always ensure he eats that extra 1.5 parathas, no matter how full he is.", "So here is the table which gives you count of how many parathas these two hungry men ate over the last 6 days \u2013", "If you notice, H2 (who is really hungry, all the time), eats twice as much as H1 plus 1.5 paratha extra. So on Saturday, he will eat \u2013", "4*2 + 1.5 = 9.5 paratha!", "Remember, the number of parathas H2 eats is dependent on how many parathas H1 eats. H1, on the other hand, eats till he is satisfied. Given this, let us a construct a straight line equation for these two hungry men, just like the way we did for the two fitness freaks.", "H2 = H1*2 + 1.5", "Here, H2 is the dependent variable, whose value is dependent on H1. 2 is the slope, and 1.5 is the constant.", "Before we proceed, let\u2019s make a small change in the paratha example, think of \u2018Y\u2019 as a diet conscious person. Every day, irrespective of how hungry or full Y is, he eats just 1.5 parathas. Not a morsel more or not morsel less.", "So, X eats 3 paratha, Y eats 1.5, X eats 5, Y eats 1.5, X eats 2.5, Y eats 1.5. So on and so forth. So what do you think the equation states?", "y = x*0 + 1.5", "The slope here is 0, hence, y is not really dependent on x, in fact, the value of y is a constant of 1.5, which is quite obvious.\u00a0 Hopefully, you get the point by now on how you can relate two sets of numbers.", "Now forget the fitness, forget the parathas, I\u2019ll give you two sets of random numbers \u2013", "X is the independent variable and Y is the dependent variable. Given this, do you see a relationship between these two sets of numbers here? Eyeballing the numbers suggest that there is no relationship between X and Y, definitely not like the one which existed in the above two examples. But this does not mean that there is no relationship between the two at all. It\u2019s just the relationship is not obvious to the naked eye.", "So how do we establish the relationship between the two? To be more precise, how do we figure out the values of the slope\u2019 and the constant \u2018\u025b\u2019?", "Well, say hello to linear regression!", "I\u2019ll introduce the same to you in the next chapter.", "Sir excellent write up as usual. Don\u2019t get me wrong but I think after waiting eagerly for a week I think the chapters are way too small.", "Sundeep, I\u2019m glad you liked the chapter. I had to stop this chapter here as the explanation of linear regression would make it very lengthy, so decided to keep that as a new chapter.", "Loved the short and sweet chapter. On the first look I wanted to run away because of Math. But I stayed.. It was very easy to understand. Thank you so so much Karthik Rangappa Ji.", "Thanks, Michael. The next one (hopefully) will get more interesting!\nPlease stay tuned and happy learning \ud83d\ude42", "Very nice sir, waiting for next article.", "Yes, hopefully in the next week!", "Hi Karthick- provide a Kindle version of all your brilliant write ups. That would be immensely beneficial.", "Will keep a note of that, Vishnu.", "Sir are all mean reverting strategies a variant of pairs trading?", "They belong to the same family.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/M10-C8-Cartoon.png", "https://secure.gravatar.com/avatar/d3bf8afd6aca5e13fcdbaaddc0adc3d5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/cb50318f5e197bf95f89904873f2838f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d44f290569c2aaaa34a72833a977c52c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/49357b0deecc22a110257084ec6c63e8?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d3bf8afd6aca5e13fcdbaaddc0adc3d5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th width=\"86\"><strong>Day</strong></th>\n<th width=\"54\"><strong>FF1</strong></th>\n<th width=\"54\"><strong>FF2</strong></th>\n</tr>\n<tr>\n<td width=\"86\">Monday</td>\n<td width=\"54\">30</td>\n<td width=\"54\">60</td>\n</tr>\n<tr>\n<td width=\"86\">Tuesday</td>\n<td width=\"54\">15</td>\n<td width=\"54\">30</td>\n</tr>\n<tr>\n<td width=\"86\">Wednesday</td>\n<td width=\"54\">40</td>\n<td width=\"54\">80</td>\n</tr>\n<tr>\n<td width=\"86\">Thursday</td>\n<td width=\"54\">20</td>\n<td width=\"54\">40</td>\n</tr>\n<tr>\n<td width=\"86\">Friday</td>\n<td width=\"54\">10</td>\n<td width=\"54\">20</td>\n</tr>\n<tr>\n<td width=\"86\">Saturday</td>\n<td width=\"54\">15</td>\n<td width=\"54\">???</td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<th width=\"82\"><strong>Day</strong></th>\n<th width=\"36\"><strong>H1</strong></th>\n<th width=\"50\"><strong>H2</strong></th>\n</tr>\n<tr>\n<td width=\"82\">Monday</td>\n<td width=\"36\">2</td>\n<td width=\"50\">5.5</td>\n</tr>\n<tr>\n<td width=\"82\">Tuesday</td>\n<td width=\"36\">1.5</td>\n<td width=\"50\">4.5</td>\n</tr>\n<tr>\n<td width=\"82\">Wednesday</td>\n<td width=\"36\">1</td>\n<td width=\"50\">3.5</td>\n</tr>\n<tr>\n<td width=\"82\">Thursday</td>\n<td width=\"36\">3</td>\n<td width=\"50\">7.5</td>\n</tr>\n<tr>\n<td width=\"82\">Friday</td>\n<td width=\"36\">3.5</td>\n<td width=\"50\">8.5</td>\n</tr>\n<tr>\n<td width=\"82\">Saturday</td>\n<td width=\"36\">4</td>\n<td width=\"50\">???</td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<th width=\"59\"><strong>X</strong></th>\n<th width=\"59\"><strong>Y</strong></th>\n</tr>\n<tr>\n<td width=\"59\">10</td>\n<td width=\"59\">3</td>\n</tr>\n<tr>\n<td width=\"59\">12</td>\n<td width=\"59\">6</td>\n</tr>\n<tr>\n<td width=\"59\">8</td>\n<td width=\"59\">4</td>\n</tr>\n<tr>\n<td width=\"59\">9</td>\n<td width=\"59\">17</td>\n</tr>\n<tr>\n<td width=\"59\">20</td>\n<td width=\"59\">36</td>\n</tr>\n<tr>\n<td width=\"59\">18</td>\n<td width=\"59\">22</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "9. PTM2, C2 \u2013 Linear Regression", "text": ["The previous chapter laid down a basic understanding of a straight line equation. To keep things simple, we took a very basic example to explain how two variables can be related to each other. Needless to say, the examples were selected in a way that casual eyeballing could reveal the relationship. Towards the end of the chapter we posted a table containing two arrays of numbers \u2013 the task was to figure out if there was a relationship between the two sets of numbers, if yes, what how could one express the relationship in the form of a straight line equation. More precisely, what was the intercept and constant?", "We will figure how to establish a relationship in this chapter and move closer towards the relative value trading technique. For convenience, let me post the table with the two number arrays once again \u2013", "Clearly, casual eyeballing does not reveal any information about the relationship between the two sets of numbers. Maybe it does, if you are a mutant, but for a mere mortal like me, it does not work.", "", "Under such circumstances, we rely upon a technique called the \u2018Linear Regression\u2019. Linear regression is a statistical operation wherein the input is an array of two sets of numbers and the output contains many different parameters, including the intercept and constant needed for constructing the straight line equation.", "To perform the linear regression operation, we will depend on the good old Excel. \u00a0Here is the step by step guide to perform a simple linear regression on two arrays of numbers. Be prepared to see a lot of screenshots and instructions \u263a", "Step 1 \u2013 Install the Plugin", "Open a fresh excel sheet and insert the values of X & Y as seen in the above table. I\u2019ve done the same as shown below \u2013", "", "This is our data set. Do remember, Y is the \u2018Dependent\u2019 variable whose value depends on the independent variable X. Both X and Y will be the input variables for the linear regression operation.", "On the excel sheet, click on the Data ribbon as highlighted in red, shown below \u2013", "", "The data ribbon will now show you the \u2018Data Analysis\u2019, option. This is highlighted in blue. Now, some of you may not see this option, if yes, don\u2019t panic. I\u2019ll tell you what needs to be done.", "Click on \u2018File\u2019 \u2013", "", "This will open up a new window, and on your left-hand side panel, you will see an option to select \u2018option\u2019 \u2013", "", "Click on the Options, and you will see a bunch of general options to work with. On the left-hand panel, select \u2018Add-Ins\u2019, click on it and then click on the \u2018Analysis Tool pack\u2019. Then click on \u2018Go\u2019, and finally on \u2018Ok\u2019. With this, you\u2019d essentially added the \u2018Data Analysis\u2019 option to the data ribbon.", "", "Close the excel sheet and restart your system and you are good to roll.", "Step 2 \u2013 Enter the values", "So we proceed further based on the assumption that your excel sheet has the data analysis pack. The next step is to invoke the linear regression function within the data analysis pack. To do this, click on the \u2018Data\u2019 ribbon, and select the Data Analysis. This will open up a pop-up, which will have a list of statistical operations which you can perform on data sets. Select the one which says \u2018Regression\u2019.", "", "Select regression and click ok, you will see the following pop up \u2013", "", "As you can see, there are a bunch of fields here. I\u2019d suggest you pay attention to the first section, which is the input section. There are two fields here \u2013 \u2018Input Y Range\u2019 and \u2018Input X Range\u2019. As you may have imagined, Y is for the dependent variable and X is for the dependent variable.", "This is where we feed in the X and Y series data. To do that, click on the input channel and select Y and X range \u2013", "", "", "Also, please notice that I\u2019ve checked the label box, this indicates that the first cell value i.e A2 and B2 contain the series label i.e X & Y respectively.", "I\u2019d suggest you ignore the other input values for now.", "On the output side, ensure you\u2019ve clicked the following \u2013", "", "Selecting \u2018New worksheet\u2019, ensures that the output data is printed on a new worksheet. I\u2019ve also clicked on two other variables called \u2013 Residuals and Standardized Residuals. I will talk about these two variables at a later point. For now, just ensure they are selected.", "With this, you are good to perform the linear regression operation. Click on the \u2018Ok\u2019 button which is available in the right-hand top corner.", "Excel will now take these inputs and perform the linear regression operation, the results will be posted in a new sheet within the same workbook.", "So here is how the linear regression output looks and as expected, the summary of the output is presented in a new sheet.", "", "Agreed, the summary output is quite scary at the first glance. It has lots and lots of information. We will unravel this output in bits and pieces as we proceed.", "For now, let\u2019s concentrate on finding our slope and intercept. I\u2019ve highlighted this for you in the below snapshot \u2013", "", "The data points highlighted in red contains the coefficients we are looking for i.e the intercept (or constant) and the slope (denoted by x).", "Some of you may be confused with the slope being represented by x, I understand its misleading, it would have been best if it was M instead of x as it would match the straight-line equation, but then I guess we will have to live with x for slope.", "So,", "Given this, the straight-line equation for the arbitrary set of data is \u2013", "y = 1.885*x + (-7.859813) or", "y = 1.885*x \u2013 7.859813", "So what does this really mean?", "Well, if you recollect from the previous chapter, this equation essentially helps us predict the value of y or the dependent variable for a certain x. Let me repost the table here for the sake of convenience \u2013", "I\u2019ve added a new data point for x here i.e 15, now using the slope and intercept, we can predict the value of y. Let\u2019s do that \u2013", "y = 1.885 * 15 \u2013 7.859813", "= 28.275 \u2013 7.859813", "= 20.415", "So, if x is 15, then most likely, the predicted value of y is 20.415.", "How accurate is this prediction, you may ask?", "Well, it\u2019s not accurate. It is only an estimation. For example, consider the value of x is 18 (refer to the last but one data point), then according to the straight line equation, the value of y should be \u2013", "y = 1.885*18 \u2013 7.859813", "= 33.93 \u2013 7.859813", "= 26.07019", "However, the actual value of y is 22.", "This leads us two values of y \u2013", "The difference between the two values of y is called the residuals. For example, the residual for y (difference between actual and predicted y), when x = 18 is", "26.07019 \u2013 22", "= 4.070187", "The summary output when you perform linear regression also contains the residuals, I\u2019ve highlighted the same in the snapshot below \u2013", "", "I\u2019ve also highlighted the residual when x = 18, which is what we calculated above.", "To give you a heads up \u2013 the bulk of the focus for carrying out the relative value trade depends on the residuals. Stay tuned!", "Download the excel sheet here.", "I have been waiting for it. Thanks:)", "Happy learning \ud83d\ude42", "Can you develop charting tool to compare two stocks like techpaisa.com. Is there any other website", "You can compare two stocks on Kite3, have you tried that yet?", "comparing two stocks in kite? can you share a link how to do this? Just joined zerodha\u2026Will be interested in knowing about this.", "Comparing 2 scrips on Kite is explained in this TradingQ&A post", "Thank you. i will search", "Good luck!", "Fantastic Karthik!!!", "I eagerly wait for your new chapters like a school kid and check the varsity everyday. Hope to have the next chapter soon:)", "Thanks for sharing the knowledge in such a lucid manner.", "Thanks.", "Happy to note that, Deepu \ud83d\ude42 Motivates me to write more and faster \ud83d\ude42", "Their is no downloadable link for module 10, please check that once.", "Will be up once the module is completed.", "Dear Karthik,", "The sense that your articles are providing to understand the mindless market is quite great, I have never been fan of boring statistics \ud83d\ude42 but the applications of the statistical methods here, has made me think differently. I guess this can be attributed to the real world application of statistics instead of the theoretical education that I was used to.", "A stupendous work, I hope you continue to be a beacon for all of us.", "Regards\nRajaram", "P.S: I think there is a typo \u201cAs you may have imagined, Y is for the dependent variable and X is for the dependent variable\u201d\nShouldn\u2019t X be the independent variable.", "Thanks for the kind words, Rajaram. I\u2019m really happy to note that you\u2019ve liked the content here \ud83d\ude42", "Yes, that\u2019s a typo, will fix that, thanks for pointing out \ud83d\ude42", "Karthik \u2013 typo not fixed yet \ud83d\ude42", "You have not mentioned about the use of linear regression.", "Next chapter \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/M10-C9.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-1_table.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-2_data-ribbon.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-3_file.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-4_option.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-5_addin.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-6_data-analysis.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-7_reg.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-8_input.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-9_label.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-10_output.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-11_summary.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-12_coefficient.png", "https://zerodha.com/varsity/wp-content/uploads/2018/02/Image-13_residuals.png", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/027865ff0c612ea5425cbb6e36f036cd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6418ff04c282468ef6c3aae8a183f4d0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4c31778389f10d24abe6e653c383dd0a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9eaf7ebd8c92334c661c7643c03e29b8?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/bda2a52e73bc98a6b455d006df49605c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/34446bcb28d59db2768894bcf6f5e67f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th width=\"59\"><strong>X</strong></th>\n<th width=\"59\"><strong>Y</strong></th>\n</tr>\n<tr>\n<td width=\"59\">10</td>\n<td width=\"59\">3</td>\n</tr>\n<tr>\n<td width=\"59\">12</td>\n<td width=\"59\">6</td>\n</tr>\n<tr>\n<td width=\"59\">8</td>\n<td width=\"59\">4</td>\n</tr>\n<tr>\n<td width=\"59\">9</td>\n<td width=\"59\">17</td>\n</tr>\n<tr>\n<td width=\"59\">20</td>\n<td width=\"59\">36</td>\n</tr>\n<tr>\n<td width=\"59\">18</td>\n<td width=\"59\">22</td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<td width=\"59\"><strong>X</strong></td>\n<td width=\"59\"><strong>Y</strong></td>\n</tr>\n<tr>\n<td width=\"59\">10</td>\n<td width=\"59\">3</td>\n</tr>\n<tr>\n<td width=\"59\">12</td>\n<td width=\"59\">6</td>\n</tr>\n<tr>\n<td width=\"59\">8</td>\n<td width=\"59\">4</td>\n</tr>\n<tr>\n<td width=\"59\">9</td>\n<td width=\"59\">17</td>\n</tr>\n<tr>\n<td width=\"59\">20</td>\n<td width=\"59\">36</td>\n</tr>\n<tr>\n<td width=\"59\">18</td>\n<td width=\"59\">22</td>\n</tr>\n<tr>\n<td width=\"59\"><span style=\"background-color: #eacf32;\">15</span></td>\n<td width=\"59\"><strong style=\"background-color: #eacf32;\">??</strong></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "10. PTM2, C3 \u2013 The Error Ratio", "text": ["I hope the previous chapter gave you a basic understanding of linear regression and how one can conduct the linear regression operation on two sets of data, on MS Excel. Remember, we are talking about two variables here \u2013 X and Y.", "X is defined as the independent variable and Y is the dependent variable. If you\u2019ve spent time thinking about this, then I\u2019m certain you\u2019d have guessed X and Y will eventually be two different stocks.", "In fact, let us just go ahead and run a linear regression on two stocks \u2013 maybe HDFC Bank and ICICI Bank and see what results we get.", "I\u2019m setting ICICI Bank as X and HDFC Bank as Y. A quick note on data before we proceed \u2013", "Here is how the data looks \u2013", "", "I\u2019ll run the linear regression on these two stocks (I\u2019ve explained how to do this in the previous chapter), also do note, I\u2019m running this on the stock prices and not really on stock returns \u2013", "", "The result of the linear regression is as follows \u2013", "", "Since ICICI is independent and HDFC is dependent, the equation is \u2013", "HDFC = Price of ICICI * 7.613 \u2013 663.677", "I\u2019m assuming, you are familiar with the above equation. \u00a0For those who are not familiar, I\u2019d suggest you to read the previous two chapters. However here is the quick summary \u2013 the equation is trying to predict the price of HDFC using the price of ICICI.", "Or in other words, we are trying to \u2018express\u2019 the price of HDFC in terms of ICICI.", "Now, let us reverse this \u2013 I will set ICICI as dependent and HDFC as the independent.", "Here is how the results look \u2013", "", "The equation is \u2013", "ICICI = HDFC * 0.09 + 142.4677", "So for the given two stocks, you can regress two ways by reordering which stock is dependent and which one is the independent variable.", "However, the question is \u2013 how do you decide which one should be marked dependent and which one as independent. Or in other words, which order makes the most sense.", "The answer to this depends on three things \u2013", "Remember, the linear equation above, essentially express the variation of price of ICICI in terms of HDFC (refer to the equation above). This expression or explanation of the price variation of one stock by keeping the price of the other stock as a reference can never be 100%. If it was 100%, then there is no play here at all.", "Having said so, the equation should be strong enough to explain the variation in price of the dependent variable as much as possible, keeping the independent variable in perspective. The stronger this is, the better it is.", "This leads us to the next obvious question \u2013 how do we figure out how strong the linear regression equation is? This is where the ratio \u2013", "Standard Error of Intercept / Standard Error comes into play. \u00a0To understand this ratio, we need to understand both the numerator and the denominator before talking about the ratio itself.", "Here is the linear regression equation of ICICI as independent and HDFC as the dependent \u2013", "HDFC = Price of ICICI * 7.613 \u2013 663.677", "This essentially means, if I know the price of ICICI, I should be able to predict the price of HDFC. However, in reality, there is a difference between the predicted price of HDFC and the actual price. This difference is called the \u2018Residuals\u2019.", "Here is the snapshot of the residuals when we try and explain the price of HDFC keeping ICICI as the independent variable \u2013", "", "When I talk about the regression equation and the residuals, usually, I get one common question \u2013 what is the use of regression if there is a residual each and every time? Or in other words, how can we rely on an equation, which fails to predict accurately, even once.", "This is a fair question. If you look at the residuals above, they vary from a low of -288 to a high of 548, so using this equation to make any sort of prediction one price is futile.", "But then, this was never about predicting the price of the dependent stock, given the price of an independent stock. It was always about the residuals!", "Let me give you a heads-up here \u2013 the residuals display a certain behaviour. \u00a0If we can understand this behaviour and figure a pattern within it, then we can rework backwards to construct a trade. This trade obviously involves buying and selling the two stocks simultaneously, hence this qualifies as a pair trade.", "Over the next few chapter, we will dwell deeper into this. However, for now, let\u2019s talk about the \u2018Standard Error\u2019, the denominator in the Standard Error of Intercept / Standard Error equation.", "The standard error is one of the variables which gets reported when you run a linear regression operation. Here is the snapshot showing the same \u2013", "", "The standard error is defined as the standard deviation of the residuals. Remember, the residuals itself is a time series array. So if you were to calculate the standard deviation of the residuals, then you get the standard error.", "In fact, let me manually calculate the standard error of the residuals, I\u2019m doing this for X = ICICI and y = HDFC", "", "And excel tells me the standard deviation is 152.665. The standard error as reported in the summary output is 152.819. The minor difference can be ignored.", "The \u2018Standard Error of the Intercept\u2019, is a little tricky. It does get reported in the regression report, and here is the standard error of the intercept with x = ICICI and y = HDFC", "", "Recall, the regression equation \u2013", "y=M*x+ C", "Where,", "M = Slope", "C = Intercept", "If you realize, here both M and C are estimates. And how are they estimated? They are estimated based on the historical data provided to the regression algorithm. The data can obviously contain noise components and few outliers. This implies that there is a scope for the estimates can go wrong.", "The Standard Error of the Intercept is the measure of the variance of estimated intercept. It helps up understand by what degree the intercept itself can vary. So in a sense, this is somewhat similar to the \u2018Standard Error\u2019 itself. To summarize \u2013", "Now that we have defined both these variables, let\u2019s bring back the \u2018Error Ratio\u2019. Please note, the term \u2018Error Ratio\u2019 is not a standard term, I\u2019ve come up with it for ease of understanding.", "Anyway, the error ratio, as we know \u2013", "Error Ratio = Standard Error of Intercept / Standard Error", "I\u2019m calculated the same for \u2013", "The decision to designate X and Y to stocks depends on the value of the error ratio. The lower the better. Since HDFC as X and ICICI as y offers the lowest error ratio, we will designate HDFC as the independent variable (X) and ICICI as the dependent variable (Y).", "I\u2019d love to explain the reason as to why we are using the error ratio as the key input for designating X and Y, but I guess I will hold back. I\u2019ll revisit this again when I take up pair trade example.", "For now, remember to calculate the error ratio and estimate which stock should be dependent and which one will be the independent.", "You can download the excel sheet used in this chapter here.", "", "Excellent write up Karthik!!!", "The appetite to learn the complete thing on pair trade is at its peak. Please let us know when can we expect your next chapter. Eagerly waiting.", "Thank a million once again.", "Regards\nDeepu", "Thanks for the kind comment, Deepu. I\u2019ll try and put up the next chapter soon.", "Kite 3 platform has the function to find correlation coefficient ratio between two stocks. For eg. correlation between Banknifty & Yesbank in Excel function Correl() returns a value of .38, Kite 3 shows the ratio as .83. Why the difference?", "Its calculated for last 1 year", "Yes, but you can calculate this for 2 years, 1 year, and 6 months.", "Rohit, can you tell me which study you are referring to in Kite3?", "In Kite 3, in \u201cChart\u201d, under \u201cStudies\u201d menu, i selected \u201cCorrelation Coefficient\u201d to find for stocks between banknifty and yesbank. In Kite 3, its showing all the same as .83 for 3 months, 6 months, 1 year. Strange. In excel, correl() functions, its .38 for 1 year and -.02 for 6 months. How the answers are coming different?", "Let me check this, Rohit.", "Sir I think I\u2019ve read this mean reverting strategy in a website called Quantopian but I could never understand it before now. Thank you. My question is, do you think its possible to create new mean reverting strategies if one has a firm understanding of statistical methods. You think a retail investor can do that?", "Yes, you certainly can. These are not latency critical strategies, meaning, the speed of information does not matter. What matters is the statistical/ quantitative technique. As long as you have a firm understanding of this \u2013 there are always opportunities in the market.", "Sir,\nCan we keep the simple method based on correlation and cointegration only? This chapters going to much deeper now.\nFirst i find 80% or more corelated stocks pair for last 63days (one quarter) .then check cointegration, in which pair cointegration less then 0.5 for last one year..i simple create the trade and its working fine. My favorite pairs are banknifty/nifty, acc/ambuja and tatamotors/tatamtrdvr\u2026\nI.cant understand why u taking us in too deep\u2026", "Akash", "With all due respect to your views, please don\u2019t mind but my view is that to have all the tools in place for any trading strategies.", "Trust me knowledge is power and the deeper we are into learning and upskilling we will be in positive side of making money.", "These all different statistics tools which will make the trades better or least we can avoid bad trades.", "Simplicity is good but when we are dealing with Biggies than we need to be as smart as possible on the knowledge front.", "Once again thanks Karthik for sharing the knowledge. Your sharing attitude is priceless and so many countless people must be thankful to you for sharing the pearls of trading.", "Thanks once again.", "Agree with you, Deepu \ud83d\ude42", "Keep going Karthick, without allowing anyone to influence what you have set to do.", "Thanks, Rohit! Will do \ud83d\ude42", "Akash, trust me, the method we are discussing here is a unique way to pair trade. You will not find this explanation anywhere else. Learn it, and once you have all the information you can decide to adopt or ignore or even improvise the technique.", "Sir, what if we use returns on two stocks rather than price to form pair trading strategies.", "You can, but that will lead to a very short-term approach to pair trade. This is best done with the price. Will try and give an explanation to this in the next chapter.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/03/M10-C10-Cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2018/03/Image-1_data-1.png", "https://zerodha.com/varsity/wp-content/uploads/2018/03/Image-2_on-price-1.png", "https://zerodha.com/varsity/wp-content/uploads/2018/03/Image-3_IH-1.png", "https://zerodha.com/varsity/wp-content/uploads/2018/03/Image-4_HI-1.png", "https://zerodha.com/varsity/wp-content/uploads/2018/03/Image-5_residuals.png", "https://zerodha.com/varsity/wp-content/uploads/2018/03/Image-6_se.png", "https://zerodha.com/varsity/wp-content/uploads/2018/03/Image-7_se-1.png", "https://zerodha.com/varsity/wp-content/uploads/2018/03/Image-8_sei.png", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d3bf8afd6aca5e13fcdbaaddc0adc3d5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2471eb58370054d67238e6153d2c4c9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3960bd1534f4f409e9cfd57dc4dbc4f1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4fbc9fa62176d8d3c22b90ec12df1ada?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "13. Position Sizing for active traders (Part 3)", "text": ["We addressed a very crucial concept in the previous chapter. We looked at how one can determine equity based on 3 different models. Each of these three models on its own merit imposes some sort of position sizing discipline, but clearly that\u2019s not enough. We still need a standalone method to position size. Given this, we will move forward to discuss some of Van Tharp\u2019s techniques on position sizing.", "I\u2019d like to talk about three core position sizing techniques at this point, they are \u2013", "Do note, these models are asset independent and time frame independent. What do I mean by this? This means that you can apply these position sizing techniques to any asset you want. It could be stocks, stock futures, commodity futures, or currency futures. Further you can apply them across any time frame \u2013 intraday, few trading session, or even trades extending for over few months.", "To understand this really well, I\u2019d suggest you pick a trading system, it could be as basic as a moving average crossover system. Identify entry and exit rules and evaluate the returns you would generated for the given time period. Now for the same set of data, apply one of the position sizing technique (which we will shortly discuss) and evaluate the performance. I\u2019m sure, you will observe a huge improvement not just in terms of P&L but also the stability of the system.", "Just to throw some light into how complex this can get \u2013", "However, from my experience, I would suggest you stick one method to estimate equity and maybe 1 or at the most 2 (meaningful) techniques to position size. Anything more may not be a great, in the sense, it would induce complexity, and complex does not necessarily mean better.", "So you as a trader need to assess which path to follow based on your temperament. Anyway, let\u2019s get started on the core position sizing techniques.", "Let\u2019s discuss the \u2018Unit per fixed amount\u2019 model first. This is a fairly simple model. Any trader who has a slight inkling towards position sizing would have explored this model in the initial days. I like and dislike this model for the same reason \u2013 its simplicity.", "The model requires you to simply state how many shares or lots (in case of futures) you will trade for a given amount. For example, assume you have Rs.200,000 in your trading account and you have the following 5 assets (futures) as your opportunity universe \u2013", "You could simply state that you would not want to trade more than 1 lot of futures per 100,000 of any asset at any given point. Given this, assume you get a signal to buy Nifty, now since there is 2L in the account, you can choose to buy one or 2 lots.", "The best part about this model is that it does not complicate the decision-making process. However, there are few problems with this model.", "Consider this \u2013 the trading system that you follow generates a signal to buy Nifty Futures and at the same time the system signals you to buy Tata Motors. Since you have 2L in your account, you decide to buy 1 lot each. Do note at the point of writing this article, Nifty Futures requires a margin of about 60K and Tata Motors around 72K.", "Irrespective of the margin, the rule simply states, 1 lot per 1L. This means, position sizing rule is assigning an equal weight to both the contracts, ignoring the implicit \u2018riskiness\u2019 of the asset. To give you a perspective, Nifty Futures has an annualized volatility of around 14% and Tata Motors has an annualized volatility of over 40%. So essentially, you are exposing yourself to a higher risk at the portfolio level.", "This in fact, is both good and bad at the same time. Good in the sense that it does not reject a trade based on the riskiness and bad in the sense it does not really factor in risk.", "There is another angle here \u2013 think about this, consider you are following a trading system to which you apply the 1 lot per 100,000 position size rule. Assume you have a 2 lac capital. Now, further assume that the system performs really well and you are bestowed with multiple winning trades. Now, for each signal, the maximum number of lots you can buy is restricted to just 2. For you to increase another lot or 2, you really need to double your capital or wait for your profits to double up you capital. So in a sense this particular position sizing technique limits the scalability of a system. The only antidote to this is to bring in a much larger account size.", "For these reasons, I kind of don\u2019t prefer the \u2018unit per fixed amount\u2019 position sizing technique. However, please don\u2019t take my word, I\u2019d suggest you work around and figure out your comfort level with this technique before deciding to adopt or not adopt this as your core position sizing technique.", "The percentage margin is an interesting position sizing technique. I personally think this technique is far more structured than the \u2018unit per fixed amount\u2019, technique especially for intraday traders. The percentage margin technique requires you to position size based on the margins.", "Here you essentially fix a \u2018X\u2019 percentage of your capital as margin amount to any particular trade. Let\u2019s work with an example to understand this better.", "Assume you have a capital of Rs.500,000/-, with this you decide that you will not expose more than 20% as margin amount to a particular trade. This translates to a capital of Rs.100,000/- per trade.", "Assume you spot an opportunity to trade Nifty Futures, you can easily take this position as the margins for this is roughly around 60K. \u00a0However, let\u2019s say you spot an opportunity in ICICI, you will be forced to let go of this as the margin for this is close to Rs.105,000/-. This means, ICICI will be out of your trading universe until and unless you increase your capital. Obviously, one should not randomly increase the capital just to accommodate opportunities. Capital should increase as an outcome on profits accumulating in your account.", "Anyway, after you initiate the position in Nifty, assume you spot an opportunity in ACC, the margin for this is 90K.", "Will you take this position?", "The answer to this really depends on the way you estimate equity.", "If you consider the total equity model, then you will still consider your capital to be 5L, 20% of which is 1L, hence you can safely take the position in ACC.", "However, if you consider the reduced total equity model, then this is how it would work (assuming 20% position sizing rule) \u2013", "Starting Capital = 5L", "Margin blocked = 60K", "New capital = 4.4L", "Margin @ 20% = 88K", "Given this, you\u2019d fall short by (just) 2K for a 90K position, hence you would have to let go\u2026and as you realize, equity estimation plays very crucial role here.", "Lastly, assume, you spot an opportunity which requires a margin of 40K, since you have 88K, you can comfortably take up 2 lots of this position.", "So on and so forth.", "The percentage margin rule ensures you pay roughly the same margin to all positions. However, the volatility from each position could vary. You could end up with risky bets and therefore altering the entire risk profile of your account.", "This exposure to risk is overcome by next position sizing model.", "The percentage volatility rule accounts for volatility of the underlying asset. The volatility as per this technique is not really the \u2018standard deviation\u2019, but rather the daily expected movement in the underlying.", "For example, if SBI\u2019s OHLC is 276, 279, 274, and 278, then the volatility for the day is simply the difference between low and high i.e", "279 \u2013 274", "= 5", "To get a sense of the generic volatility measured this way, I can look at the difference between low and high for last \u2018n\u2019 days and take an average. However, the only problem here would be that I would be ignoring the gap up and gap down openings. For this reason, Van Tharp suggest the use of \u2018Average True Range\u2019 to measure the stock\u2019s volatility.", "The \u2018Percentage Volatility\u2019 method of position sizing requires us to define the maximum amount of volatility exposure one can assume for the given equity capital.", "For example, if the equity capital is Rs.500,000/- then I could make a rule saying that I do not want to expose more than 2% of the capital to volatility.", "Let\u2019s work with an example. Here is the chart of Piramal Enterprises Limited (PEL) \u2013", "", "The 14-day ATR is 76. This means each share of PEL contributes to a fluctuation (volatility) of Rs.76/- to my equity capital.", "Now assume I spot an opportunity to trade PEL, the question is how many share should I buy considering my equity is 5L and I\u2019ve capped volatility exposure as not more than 2%.", "2% of 5L is 10,000/-. This means I should only so many number of shares of PEL, such that the overall volatility caused by PEL is not more than 10k.", "Given this, I simply have to divide 10,000 by 76 to find out the number of shares that I can buy \u2013", "10,000/76", "= 131.57 or about 131 shares.", "PEL is currently trading around 2700, which means to say, your overall exposure would be \u2013", "131 * 2700", "=Rs.353,700/-", "I\u2019d suggest you stick to the reduced total equity model for estimating equity here. This means, the capital available for the next trade would be \u2013", "500,000 \u2013 353,700", "=146,300", "Now @ 2% volatility, the capital exposure reduced to Rs.2929/-. Clearly the capital exposure to the next trade would reduce, but the exposure to volatility would remain the same.", "Here is an advice (from Van Tharp, of course) if you are inclined to follow percentage volatility technique \u2013 the do estimate the total amount of volatility you want to expose your portfolio too. If the number is say 15% then on a 5L capital this works out to Rs.75,000/-.", "Think about it, if every position goes against you, then you stand to lose 75k on a capital of 5L on a single day. How does that feel? If your stomach churns, then 15% portfolio volatility maybe a bit high for you.", "In the next chapter, we will explore few more concepts before we proceed to understanding \u2018Trading biases\u2019.", "when are you posting next chapters", "Another 10 days max.", "Come on, don\u2019t be mean and ask for next chapter. Let Karthik work on it and post when it is feasible. It is disrespectful to ask for ETA.", "Lol \ud83d\ude42", "I at least know that someone is reading the chapter and looking forward to the next, its actually encouraging \ud83d\ude42", "Karthik really you have great knowledge in the stock market I must say. will u suggest me which course and books to read for getting expertise in this area apart from this material? As this material also so useful for me. Thanks a lot for this", "The only course (certification) worth pursuing would be the CFA from the CFA institute, Harman.", "Sir how big is this field", "It is quite vast, Harman.", "3\u00d73 = 9? or did you mean 3+3 = 6?\nAlso, you missed discussing risking a certain percentage(I believe one of the most important styles) of your equity.\nIn that, for example, you only risk a fixed percentage of your account. for example, if you decide to only risk 1% of your equity. So with Rs 500,000 account, you would only risk around Rs 5,000 per trade, regardless of the instrument you are trading.\nBest", "Excuse my bad math, its 9 \ud83d\ude42", "Will discuss this in the next chapter.", "I think the percentage volatility resembles closely to what you say. In the chapter, 2% of total capital is taken as the volatility which is the risk. How you calculate the risk may be different like Average True Range in the chapter or it may be the swing high where you place the SL.", "Long back I had urged zerodha the \u201cgame changer\u201d feature in the trading platform or say system features.\nI want to trade my whole life with say 2% risk per trade model.\nThis 2% will be user set. Someone may set it 5% or 0.5% and so on. Someone may keep it blank.\nBut for the ones who want to trade this fix % risk model, we want the platform/system auto square off a given position if it goes more than 2% of my capital \u2014 and in loss.", "If this happens Me and intraday traders like me who can\u2019t follow a Risk Discipline due to inertia or laziness or something else. Because there will be always a stop loss set in a system based on the %amount I mention there.", "So even if I take big position size small position size the SL will be altered accordingly and eventually, I will achieve a discipline in losing or say discipline in drawdown.", "I don\u2019t know why Zerodha Guyz have taken this request lightly.\nThey have ignored it I guess.\nHad they implemented this, thousands like me would have benefitted.\nThousands intelligent but nondisciplined traders might have actually ended in nice Profits!!", "Vishal, discipline in markets is an integral part. This is very similar to being disciplined in the army. There are no two ways about it. However, I will share your feedback with the team. Thanks.", "Hello Sir,", "thanks for this wonderful series, I actually understood mistakes I was doing while trading and always end up in not having capital for next calls.\nbut does this mean that if I have a capital of 200000 and my percentage margin is say 10%, I could not take any F&O calls? or is there a way I still take F&O.", "Maybe not futures, but I\u2019m sure you can take up few option trades.", "what I am thinking to do now a days is suppose I have 10k capital and on this I can get margin upto 3 lakhs in intraday but I am taking 4 times margin n my stoploss is 2% so max loss will be 8% on my original capital. I can take position of 40k and be in the game using the extra margins unless n untill I hit 10 consecutive stoplosses (If this happens all the capital gets vanish) which is quite hard if my system is working with 50% to 60% winning ratio n generating average 5% to 8% positive returns monthly. Need your opinion on this and always thankful to you for the best quality of stock market content in India.", "8% hit on capital is quite intense. Also, your system could be 60% accurate\u2026but there is a chance that the losing streak could occur first before you start experiencing winners. So do think about this.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2017/09/M9C13-Cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2017/09/Image-1_ATR.png", "https://secure.gravatar.com/avatar/0e756c098dd84b50268a623d524347b4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4515714cfc42cc5292bd9519bfc4e927?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ab71afdae46848df3611a0cb7bd4f82c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ab71afdae46848df3611a0cb7bd4f82c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/94b369936b66183516ab4f56bf65df3e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/486759a98ca1f5bdd7854cf71a6fa7bf?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/68e89cf4fd90163e562b165932fe7757?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ba81e981cd8fcf4fc5806aafece705c2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/672f0ced0e6f0d886d18f25ed6294339?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "11. PTM2, C4 \u2013 The ADF test", "text": ["I guess this chapter will get a little complex. We would be skimming the surface of some higher order statistical theory. I will try my best and stick to practical stuff and avoid all the fluff. I\u2019ll try and explain these things from a trading point of view, but I\u2019m afraid, some amount of theory will be necessary for you to know.", "Given the path ahead I think it is necessary to re-rack our learnings so far and put some order to it. Hence let me just summarize our journey so far \u2013", "I hope you have read and understood everything that we have discussed up to this point. If not, I\u2019d suggest you read the chapters again, get clarity, and then proceed.", "Recollect, in the previous chapter, we discussed the residuals. In fact, I also mentioned that the bulk of the focus going forward will be on the residuals. It is time we study the residuals in more detail and try and establish the kind of behavior the residuals exhibit. In our attempt to do this, we will be introduced to two new jargons \u2013 Cointegration and Stationarity.", "", "Generally speaking, if two time series are \u2018co integrated\u2019 (stock X and stock Y in our case), then it means, that the two stocks move together and if at all there is a deviation from this movement, it is either temporary or can be attributed to a stray event, and one can expect the two time series to revert to its regular orbit i.e. converge and move together again. Which is exactly what we want while pair trading. This means to say, the pair that we choose to pair trade on, should be cointegrated.", "So the question is \u2013 how do we evaluate if the two stocks are cointegrated?", "Well, to check if the two stock is cointegrated, we first need to run a linear regression on the two stocks, then take up the residuals obtained from the linear regression algorithm, and check if the residual is \u2018stationary\u2019.", "If the residuals are stationary, then it implies that the two stocks are cointegrated, if the two stocks are cointegrated, then the two stocks move together, and therefore the \u2018pair\u2019 is ripe for tracking pair trading opportunity.", "Here is an interesting way to look at this \u2013 one can take any two-time series and apply regression, the regression algorithm will always throw out an output. How would one know if the output is reliable? This is where stationarity comes into play. The regression equation is valid if and only if residuals are stationary. If the residuals are not stationary, regression relation shouldn\u2019t be used.", "Speculating and setting up trades on a co-integrated time series is a lot more meaningful and is independent of market direction.", "So, essentially, this boils down to figuring out if the residuals are stationary or not.", "At this point, I can straight away show you how to check if the residuals are stationary or not, there is a simple test called the \u2018ADF test\u2019 to do this \u2013 frankly, this is all you need to know. However, I think you are better off if you spend few minutes to understand what \u2018Stationarity\u2019 really means (without actually deep diving into the quants).", "So, read the following section only if you are curious to know more, else go to the section which talks about ADF test.", "A time series is considered \u2018Stationary\u2019 if it follows three 3 simple statistical conditions. \u00a0If the time series partially satisfies these conditions, like 2 out of 3 or 1 out of 3, then the stationarity is considered weak. If none of the three conditions are satisfied, then the time series is \u2018non-stationary\u2019.", "The three simple statistical conditions are \u2013", "While pair trading, we only look for pairs which exhibit complete stationarity. Non-stationary series or weak stationary series will not work for us.", "I guess it is best to take up an example (like a sample time series) and figure out what the above three conditions really mean and hopefully, that will help you understand \u2018stationarity\u2019 better.", "For the sake of this example, I have two-time series data, with 9000 data points in each. I\u2019ve named them Series A and Series B, and on this time series data, I will evaluate the above three stationarity conditions.", "Condition 1 \u2013 The mean of the series should be same or within a tight range", "To evaluate this, I will split each of the time series data into 3 parts and calculate the respective mean for each part. The mean for all three different parts should be around the same value. If this is true, then I can conclude that the mean will more or less be the same even when new data points flow in the future.", "So let us go ahead and do this. To begin with, I\u2019m splitting the Series A data into three parts and calculating its respective means, here is how it looks \u2013", "", "Like I mentioned, I have 9000 data points in Series A and Series B. I have split Series A data points into 3 parts and as you can see, I\u2019ve even highlighted the starting and ending cells for these parts.", "The mean for all the three parts are similar, clearly satisfying the first condition.", "I\u2019ve done the same thing for Series B, here is how the mean looks \u2013", "", "Now as you can see, the mean for Series B swings quite wildly and thereby not satisfying the first condition for stationarity.", "Condition 2 -The standard deviation should be within a range.", "I\u2019m following the same approach here \u2013 I will go ahead and calculate the standard deviation for all the three parts for both the series and observe the values.", "Here is the result obtained for Series A \u2013", "", "The standard deviation oscillates between 14-19%, which is quite \u2018tight\u2019 and therefore qualifies the 2nd stationarity condition.", "Here is how the standard deviation works out for Series B \u2013", "", "Notice the difference? The range of standard deviation for Series B is quite random. Series B is clearly not a stationary series. However, Series A looks stationary at this point. However, we still need to evaluate the last condition i.e the autocorrelation bit, let us go ahead and do that.", "Condition 3 \u2013 There should be no autocorrelation within the series", "In layman words, autocorrelation is a phenomenon where any value in the time series is not really dependent on any other value before it.", "For example, have a look at the snapshot below \u2013", "", "The 9th value in Series A is 29, and if there is no autocorrelation in this series, the value 29 is not really dependent on any values before it i.e the values from cell 2 to cell 8.", "But the question is how do we establish this?", "Well, there is a technique for this.", "Assume there are 10 data points, I take the data from Cell 1 to Cell 9, call this series X, now take the data from Cell 2 to Cell 10, call this Series Y. Now, calculate the correlation between Series X and Y. This is called 1-lag correlation. The correlation should be near to 0.", "I can do this for 2 lag as well \u2013 i.e between Cell 1 to Cell 8, and then between Cell 3 to Cell 10, again, the correlation should be close to 0. If this is true, then it is safe to assume assumed that the series is not autocorrelated, and hence the 3rd condition for stationarity is proved.", "I\u2019ve calculated 2 lag correlation for Series A, and here is how it looks \u2013", "", "Remember, I\u2019m subdividing Series A into two parts and creating two subseries i.e series X and series Y. The correlation is calculated on these two subseries. Clearly, the correlation is close to zero and with this, we can safely conclude that Time Series A is stationary.", "Let\u2019s do this for Series B as well.", "", "I\u2019ve taken a similar approach, and the correlation as you can see is quite close to 1.", "So, as you can see all the conditions for stationarity is met for Series A \u2013 which means the time series is stationary. While Series B is not.", "I know that I\u2019ve taken a rather unconventional approach to explaining stationarity and co-integration. After all, no statistical explanation is complete without those scary looking formulas. But this is a deliberate approach and I thought this would be the best possible way to discuss these topics, as eventually, our goal is to learn how to pair trade efficiently and not really deep dive into statistics.", "Anyway, you could be thinking if it is really required for you to do all of the above to figure out if the time series (residuals) are indeed stationary. Well, like I said before, this is not required.", "We only need to look at the results of something called as the \u2018The ADF Test\u2019, to establish if the time series is stationary or not.", "11.3 \u2013 The ADF test", "The augmented Dickey-Fuller or the ADF test is perhaps one of the best techniques to test for the stationarity of a time series. Remember, in our case, the time series in consideration is the residuals series.", "Basically, the ADF test does everything that we discussed above, including a multiple lag process to check the autocorrelation within the series. Here is something you need to know \u2013 the output of the ADF test is not a definitive \u2018Yes \u2013 this is a stationary series\u2019 or \u2018No \u2013 this is not a stationary series\u2019. Rather, the output of the ADF test is a probability. It tells us the probability of the series, not being stationary.", "For example, if the output of the ADF test a time series is 0.25, then this means the series has a 25% chance of not being stationary or in other words, there is a 75% chance of the series being stationary. This probability number is also called \u2018The P value\u2019.", "To consider a time series stationary, the P value should be as low as 0.05 (5%) or lower. This essentially means the probability of the time series is stationary is as high as 95% (or higher).", "Alright, so how do you run an ADF test?", "Frankly, this is a highly complex process and unfortunately, I could not find a single source online which will help you run an ADF test for free. I do have an excel sheet (which has a paid plugin) to run an ADF test, but unfortunately, I cannot share it here. If I could, I would have.", "If you are a programmer, I\u2019ve been told that there are Python plugins easily available to run an ADF test, so you could try that.", "But if you are a non-programmer like me, then you will be stuck at this stage. So here is what I will do, once in a weak or 15 days, I will try and upload a \u2018Pair Data\u2019 sheet, which will contain the following information of the best possible combination of pairs, this includes \u2013", "The look back period for generating this is 200 trading days. I\u2019ve restricted this just to banking stocks, but hopefully, I can include more sectors going forward. To help you understand this better, here is the snapshot of the latest Pair Datasheet for banking stocks \u2013", "", "The first line suggests that Federal Bank as Y and PNB as X is a viable pair. This also means, that the regression of Federal as Y and PNB as X and Federal as X and PNB as Y was conducted and the error ratio for both the combination was calculated, and it was found that Federal as Y and PNB as X had the least error ratio.", "Once the order has been figured out (as in which one is Y and which one is X), the intercept and Beta for the combination has also been calculated. Finally, the ADF was conducted and the P value was calculated. If you see, the P value for Federal Bank as Y and PNB as X is 0.365.", "In other words, this is not a combination you should be dealing with as the probability of the residuals being stationary is only 63.5%.", "In fact, if you look at the snapshot above, you will find only 2 pairs which have the desired p-value i.e Kotak and PNB with a P value of 0.01 and HDFC and PNB with a P value of 0.037.", "The p values don\u2019t usually change overnight. Hence, for this reason, I check for p-value once in 15 or 20 days and try and update them here.", "I think we have learned quite a bit in this chapter. A lot of information discussed here could be new for most of the readers. For this reason, I will summarize all the things you should know about Pair trading at this point \u2013", "If you are not clear on any of the points above, then I\u2019d suggest you give this another shot and start reading from Chapter 7.", "In the next chapter, we will try and take up an example of a pair trade and understand its dynamics.", "You can download the Pair Data sheet, updated on 11th April 2018.", "Lastly, this module (and this chapter, in particular) could not have been possible without the inputs from my good friend and an old partner, Prakash Lekkala. So I guess, we all need to thank him \ud83d\ude42", "Thanks Karthik.\nExcellent writeup!!!\nIs it possible to have the complete list of upcoming chapters to know where we are with regard this pair trade journey ?\nCan we expect a few more chapters this month ? Sorry for being greedy\u2026", "Regards\nDeepu", "Deepu, glad you liked it.", "I don\u2019t plan for it in advance, but generally, go with the flow. To give you a rough idea, the next step would be to take up an example of a trade and try and put all the learning together. Hopefully, that will be exciting enough \ud83d\ude42", "Thanks Karthik.", "Request you to share 5-6 examples so that it covers most of the leanings. Further what is the ADF plugin cost and where to buy it from ? Please share the details.", "Regards\nDeepak", "You can use R Studio package to run ADF test. There is a package called \u201curca\u201d in r studio which enables this test.", "Thanks, Akshay. Yes, I\u2019m aware R has a plugin, will have a look at URCA.", "The idea is to share a couple of live examples. Will share the other details as we progress.", "Dear Karthik,", "As you said I have stuck on ADF test. no friend with programming knowledge.\nIf I need to buy a paid plugin then how much it will cost?\nAny other way to do the ADF test?", "Swapnil, unfortunately, I have not evaluated any paid versions. So cannot really comment. Thanks.", "I\u2019m glad to know new learning with your guidance. Seriously Its very educative and informative.\nThanks for Enlightenment us.", "Happy learning, Anil!", "I would say, it\u2019s very addictive too along with being educative and informative.\nThanks a lot, Karthik.", "Glad to hear that, Arbit \ud83d\ude42\nKeep learning!", "Thanks prakash lekkala sir and karthik sir for your effort..", "Most welcome!", "Thank You Karthik sir,\nEven though ADF test is not available , you have taught us how to calculate Stationarity using excel by dividing the data in to parts and calculate Mean,SD and 2 Lag correlation.But please mention how much variation in Mean,SD which would represent \u2018p\u2019value of 0.05 (rough estimate).", "You can run ADF test in R software, load package called \u201curca\u201d in R. It\u2019s really easy in R.", "Dear Akshay,", "Is this software free? If yes please suggest from where to download it.", "you can download adf test excel add-in from below link\nhttp://www.web-reg.de/adf_addin.html#", "deear sunil thanks a lot for the link please elaborate how to use it on excel? thanks in advance.", "For mean \u2013 I\u2019d suggest a tight variation, not more than 3-5 points difference. For SD, technically you will have to look at the standard error of the standard deviation, but then, it may just get a little overboard. Stick to -5-10% at the most. This should result in a pvalue less than 0.05%.", "Can you please upload the PDF of all the chapters shared so far?\nThanks", "The modules will be completed to PDF once this is completed.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/04/M10-C11-cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2018/04/Image-1_Mean.png", "https://zerodha.com/varsity/wp-content/uploads/2018/04/Image-2_mean-seriesb.png", "https://zerodha.com/varsity/wp-content/uploads/2018/04/Image-3_sda.png", "https://zerodha.com/varsity/wp-content/uploads/2018/04/Image-4_sdb.png", "https://zerodha.com/varsity/wp-content/uploads/2018/04/Image-5_ac.png", "https://zerodha.com/varsity/wp-content/uploads/2018/04/Image-6_2lag.png", "https://zerodha.com/varsity/wp-content/uploads/2018/04/Image-7_2lag.png", "https://zerodha.com/varsity/wp-content/uploads/2018/04/Image-8_pd.png", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4fbc9fa62176d8d3c22b90ec12df1ada?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2b688598a875e98195dd68b017a3e18a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c744fc3943c291093eebb737af0f776e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1ded886e80121d7f2e944b98b658c0ca?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/bed2d68e83bc599a6007214e7c261052?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e6fb848268a3783408db0d1ddb463be7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4fbc9fa62176d8d3c22b90ec12df1ada?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2b688598a875e98195dd68b017a3e18a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9d60e4f0b49e79d9026c771799bd10d7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/47822817bf56eda15a7749ad663789b0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/545835a07576e984881576b407785e1f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "12. Trade Identification", "text": ["At this stage, we have discussed pretty much all the background information we need to know about Pair trading. We now have to patch things together and understand how all these concepts make sense while taking up a pair trade.", "Let\u2019s start with the basic equation again. I understand we have gone through this equation earlier in this module, but I want you to relook at this equation from a trader\u2019s perspective. I want you to think about ways in which you can trade this equation. I want you to see opportunities here. This is where everything starts to culminate.", "y = M*x + c", "", "", "What is this equation essentially trying to tell you? Well, frankly, it depends on how your perspective of this equation. You can look at it from two different perspectives \u2013", "Since we are dealing with two stocks here, the statistician would look at this as an equation where the stock price of a dependent stock \u2018y\u2019 is being explained with respect to an independent stock price \u2018x\u2019. This process of \u2018price explanation\u2019 generates two other variables i.e the slope (or beta) \u2018M\u2019 and the intercept \u2018c\u2019.", "So in an ideal world, the stock price of y should be exactly equal to the Beta times X plus the intercept.", "But we know that this is not true, there is always a variation in this equation which leads to the difference between the actual stock price of Y and the predicted stock price of Y. This difference is also termed as the \u2018residual\u2019 or the error term.", "In fact, we can extend the above equation to include the residuals and with that, the equation would look like this \u2013", "y = M*x + c + \u03b5", "Where, \u03b5\u00a0represents the error or the residual of the equation. Of course, by now we are even familiar with the stationarity of the residuals which adds more sanctity to the above equation.", "Fair enough, now for the interesting bit \u2013 how would a trader look at this equation? Let me repost the equation again \u2013", "y = M*x + c + \u03b5", "Let us break this equation into smaller pieces \u2013", "y = M*x\u00a0, this essentially means, the price of the dependent stock \u2018y\u2019 is equal to the independent stock price \u2018x\u2019, multiplied by the slope M. Well, the slope is essentially the beta and it tells us how many stocks of x would equal the price of y.", "For example, here is the linear regression output of HDFC Bank (y) vs ICICI Bank (x) \u2013", "", "And here is the snapshot of the prices of ICICI and HDFC \u2013", "", "Now, this means, the price of HDFC Bank is roughly equal to the price of ICICI times the Beta. So, 1914 = 291 *7.61.", "Don\u2019t jump in to do the math, I know that does not add up \u263a", "But for a moment, assume if this equation were to be true, then, in other words, this essentially means 7.61 shares of ICICI equals 1 share of HDFC. This is an important conclusion.", "This also means, if I were to go long on one share of HDFC and short on 7.61 shares of ICIC, then I\u2019m essentially long and short at the same time, hence I\u2019ve hedged away a large amount of directional risk. Don\u2019t forget the basic premise here, we are considering these two stocks because they are co-integrated in the first place.", "So here is the equation again \u2013", "y = M*x + c + \u03b5", "If this equation were to be true, then by going long and short on y and x, we are hedging away the directional risk associated with this pair.", "This leaves us with the 2nd part of the equation i.e c + \u03b5", "As you know, C is the intercept. Now, at this point, I want you to recollect the \u2018Error Ratio\u2019 which we discussed in chapter 10.", "Error Ratio = Standard Error of Intercept / Standard Error.", "As you may recollect, we discussed the lower the error ratio, the better it is. Mathematically, this also implies that we are looking at pairs which have a low intercept.", "Again this is a very crucial point for you to note, we are selecting the pairs, such that the standard error of the intercept is low.", "Remember, in this equation\u00a0 y = M*x + c + \u03b5\u00a0we are trying to establish a trade (or hedge) every element. We are hedging y with Mx. We are trying to minimize c or the intercept because we are not trading or hedging it. Therefore, the lower it is, the better for us.", "This leaves us with just the residual or the \u03b5.", "Remember, the residual is a time series. We have even validated the stationarity of this series. Now, because the residual is a stationary time series, the properties of normal distribution can be quite beautifully applied. This means, I only need to track the residuals and trigger a trade when it hits the upper or lower standard deviation!", "Generally speaking, a trade is initiated when \u2013", "Like in the first method, the idea here is to initiate a trade at the 2nd standard deviation and hold the trade till the residual reverts to mean. The SL can be kept at 3SD for both the trades. More on this in the next chapter.", "I know this is a short chapter, but I will conclude it here, as I don\u2019t want to clutter your mind with other information.", "It is important for you to understand this equation from a trader\u2019s perspective and figure out what exactly you are trading. Remember, we are only trading the residuals here. We are hedging away the stock price of y with x. The intercept is kept low, and the residual is traded.", "Why is the residual tradable? Because its stationary and therefore, its behavior is kind of predictable. In the next chapter, I\u2019ll try and take up a live trade and deal with the practical aspects of pair trading.", "Hello sir\nIt was quite a short chapter but very crucial i guess. Well i have a question. We can trade residual because it being a stationary time series but can we treat this data as normal distribution? I have plotted the graph of residual and it was forming skewed ND.\nThanks\nVarsity student", "Yes, this is a crucial chapter, hence kept it short and to the point.\nAs long as its stationary and has a p-value of less than 0.1 don\u2019t bother about plotting the graphs. Just consider it stationary and look for trades.", "Before reading varsity zerodha I was confuse about share market.But after reading this 10 chapters , I got lot of knowledge about stock market.I am very thankful to Nithin Kamat sir,who written varsity in so easy language.", "Nithin will be happy to note this, Mahendra \ud83d\ude42\nKeep learning.", "When i started reading the contents of Varsity in 2k16 i thought it was Nithin writing all these. But in few days i got to know it was you Karthik Rangappa \ud83d\ude42 I guess many people get confused initially.\nThanks", "It does not really matter, Mayank. Everything we do is as company, as a team. So credit belongs to all \ud83d\ude42", "You are too humble, sir. I am impressed.\nThanks", "Keep learning, Mayank!\nGood luck.", "I took the values of residual of HDFCBANK-HDFC and in next column z-score or what you say density curve. These two stocks are highly co-integrated with p value(SIC) .0146 and 0.0054 (AIC). For shorting when Z-score>=0.975 and for long z score =<0.025.\nIt showed total of 4 trading opportunities during last one year and all were successful. One thing i noticed the profit gets maximised when z-score approaches 0.5 from both the sides. One more thing i noticed if one stock made gains other ended in loss.\nThe average net profit was 80 points. Still i haven't figure out about the stop loss. We are eagerly waiting for the next chapter.\nThanks\nVarsity student", "Yes, this is always true \u2013 your profits will roll only from one of the contracts, not both. However, I\u2019ve seen instances where both the contracts make money.", "True..i checked for IBULHSGFIN-HDFC. Both the contracts made money \ud83d\ude42\nI like this trading. We are grateful to you.\nThanks\nVarsity student", "Good luck, stay profitable \ud83d\ude42", "Brother can you please share the excel file with the above mentioned data integrated on it .", "Will do that shortly, Tarun. Thanks.", "I conducted ADF test on residuals of regression analysis b/w 2 stocks for case 1) stock 1 as \u2018X\u2019 and S2 as \u2018Y\u2019 case2) S1 as \u2018Y\u2019 and S2 as \u2018X\u2019. Residual of case one was non-stationary (p=0.1386) while that of case 2 was stationary (p=0.0088).\nHere is the link for snapshot of the result:\nhttp://prntscr.com/jevuqj\nhttp://prntscr.com/jevv2u\nWe need your comments, sir. If this analysis is valid then we should first test for stationarity of the series before comparing error ratio, shouldn\u2019t we?\nThanks\nVarsity student", "You need to select the pair based on the error ratio, Kumar. Do this first and then run the stationarity test.", "Thank you!", "@Kumar Mayank\nwhich software that was? for counting probability (p-value).\ni use amibroker with python to check cointegration\u2026\ncan u test mail me, i want to know something more about coint\u2026my mail is anmpatel at gmail dot com.\nthanks.", "Hello Akash\nI use EViews to check the stationarity of a time series. Sorry, but i didn\u2019t get you, Akash.Can you let me know what you\u2019re asking for?", "hii\nMr. Kumar", "i am new at treading and have sum basic knowledge of ADF test. so can u help me out how to run ADF test in EVIEWS application please help me out of this..", "Thanks in advance", "It is easy to run ADF test in R package, through \u201curca\u201d library. Watch this vedio", "https://m.youtube.com/watch?v=mkHtP0nONJY.", "@kumar mayank and Kartikji\nP-value/probability/cointegration\nAll are same things? You use Eviews to check probability* value right?\nThe same thing i check in amibroker with help of python server.\nI just want to check whether all r same thing with different name or not\u2026\nIf same thing then its ok, otherwise i have to make some improvement with my existing system, thanks in advance.\nYa and also want to know that Eviews is free? If not how much is fees.", "I\u2019m not too familiar with either amibroker or Eviews. But yes, they are all essentially same.", "Hello Akash\nTwo securities are co-integrated when the residuals which we get after regression analysis are stationary. The stationarity of the residuals is checked by many tests one of them is Augmented Dicky-Fuller test. The o/p of ADF test is in terms of probability. The threshold value (p-value) is 0.05 or 5%. The lower the probability value the more securities will be co-integrated.\nHere is the link for EViews software: http://www.eviews.com/home.html\nThanks.", "Hey Mayank, thanks for sharing the link. I\u2019ll take a look at it as well \ud83d\ude42", "Welcome, sir!", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/M10-C12-cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-1_slope.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-2_bank-300x78.png", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2637590d584dc9ba6ab3555dc88faacb?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6eb6a97f11652659746edf53d8075128?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2471eb58370054d67238e6153d2c4c9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/270b7c86fdd59a84b031f45d7f2a54aa?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4fbc9fa62176d8d3c22b90ec12df1ada?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2471eb58370054d67238e6153d2c4c9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "13. Live Example -1", "text": ["", "We have finally reached a point where we are through with all the background theory knowledge required for Pair Trading. I know most of you have been waiting for this moment \u263a", "In this last and final chapter of pair trading, we will take up an example of a live trade and discuss factors that influence the trade.", "Here is a quick recap of pre-trade theory \u2013", "Over the last few chapters, we have discussed each point in great details. These points help us understand which pairs are worth considering for pair trading. In a nutshell, we take any two stocks (from the same sector), run a linear regression on it, check the error ratio and identify which stock is X and which is Y. We now run an ADF test on the residual of the pair. A pair is considered worth tracking (and trading) only if the ADF is 0.05 or lower. If the pair qualifies this, we then track the residuals on a daily basis and try to spot trading opportunities.", "A pair trade opportunity arises when \u2013", "Having said so, I generally prefer to initiate the trade when the residuals hit 2.5 SD or thereabouts. Once the trade is initiated, the stop loss is -3 SD for long trades and +3SD for short trades and the target is -1 SD and +1 SD for long and short trades respectively. This also means, once you initiate a pair trade, you will have to track the residual value to know where it lies and plan your trades. Of course, we will discuss more on this later in this chapter.", "In chapter 11, I introduced the \u2018Pair Data\u2019 sheet. This sheet is an output of the Pair Trading Algo. The pair trading algo basically does the following \u2013", "If you are a programmer, I would suggest you use this as a guideline to develop your own pair trading algo.", "Anyway, in chapter 11, I had briefly explained how to read the data from the Pair data, but I guess it\u2019s time to dig into the details of this output sheet. \u00a0Here is the snapshot of the Pair data excel sheet \u2013", "", "Look at the highlighted data. The Y stock is Bajaj Auto and X stock is TVS. Now because this combination is present in the report, it implies \u2013 Bajaj as Y and TVS as X has a lower standard error ratio, which further implies that Bajaj as X and TVS as Y is not a viable pair owing to higher error ratio, hence you will not find this combination (Bajaj as X and TVS as Y) in this report.", "Along with identifying which one is X and Y, the report also gives you the following information \u2013", "I\u2019m assuming (and hopeful) you are aware of the first three variables i.e intercept, Beta, and ADF value so I won\u2019t get into explaining this all over again. I\u2019d like to quickly talk about the last two variables.", "Standard Error (or Std_err) as mentioned in the report is essentially a ratio of Today\u2019s residual over the standard error of the residual. Please note, this can get a little confusing here because there are two standard error\u2019s we are talking about. The 2nd standard error is the standard error of the residual, which is reported in the regression output. Let me explain this with an example.", "Have a look at the snapshot below \u2013", "", "This is the regression output summary of Yes Bank versus South Indian Bank. I\u2019ve highlighted standard error (22.776). This is the standard error of the residuals. Do recollect, we have discussed this earlier in this module.", "The second highlight is 20.914, which is the residual.", "The std_err in the report is simply a ratio of \u2013", "Today\u2019s residual / Standard Error of the residual", "= 20.92404/22.776", "= 0.91822", "Yes, I agree calling this number std_err is not the best choice, but please bear with it for now \u263a", "This number gives me information of how today\u2019s residual is position in the context of the standard distribution. This is the number which is the key trigger for the trade. A long position is hit if this number is -2.5 or higher with -3.0 as stop loss. A short position is initiated if this number reads +2.5 or higher with a stop loss at +3.0. In case of long, target is at -1 or lower and in case of short, the target is +1 or lower.", "This also means, the std_err number has to be calculated on a daily basis and tracked to identify trading opportunities. More on this in a bit.", "The sigma value in the pair data report is simply the standard error of the residual, which in the above case is 22.776.", "So now if you read through the pair data sheet, you should be able to understand the details completely.", "Alright, let us jump to the trade now \u263a", "I have been running the pair trading algo to look for opportunities, and I found one on 10th May 2018. Here is the snapshot of the pair data, you can download the same towards the end of this chapter. Do recollect, this pair trading algo was generated using the closing prices of 10th May.", "", "Look at the data highlighted in red. This is Tata Motors Ltd as Y (dependent) and Tata Motors DVR as X (independent).", "The ADF value reads, 0.0179 (less than the threshold of 0.05), and I think this is an excellent adf value. Do recollect, ADF value of less than 0.05 indicates that the residual is stationary, which is exactly what we are looking for.", "The std_err reads -2.54, which means the residuals is close has diverged (sufficiently enough) away from the mean and therefore one can look at setting up a long trade. Since this is a long trade, one is required to buy the dependent stock (Tata Motors) and short the independent stock (Tata Motors DVR). This trade was supposed to be taken on 11th May Morning (Friday), but for some reason, I was unable to place the trade. However, I did take the trade on 14th May (Monday) morning at a slightly bad rate, nevertheless, the intention was to showcase the trade and not really chase the P&L.", "Here are the trade execution details \u2013", "", "You may have two questions at this point. Let me list them for you \u2013", "Question \u2013 Did I actually execute the trade without checking for prices? As in I didn\u2019t even look at what price the stocks, I didn\u2019t look at support, resistance, RSI etc. Is it not required?", "Answer \u2013 No, none of that is required. The only thing that matters is where the residual is trading, which is exactly what I looked for.", "Question \u2013 On what basis did I choose to trade 1 lot each? Why can\u2019t I trade 2 lots of TM and 3 lots of TMD?", "Answer \u2013 Well this depends on the beta of the stock. We will use the beta and identify the number of stocks of X &Y to ensure we are beta neutral in this position.\u00a0 The beta neutrality states that for every 1 stock of Y, we need to have beta*X stock of X. For example, in the Tata Motors (Y) and Tata Motors DVR (X) for example, the beta is 1.59. This means, for every 1 stock of\u00a0 Tata Motors (Y), I need to have 1.59 stocks of Tata Motors DVR (X).", "Going by this proportion, the lot size of Tata Motors (Y) is 1500, so we need 1500*1.59 or 2385 shares of Tata Motors DVR (X). The lot size is 2400, quite close to 2385, hence I decided to go with 1 lot each. But I\u2019m aware this trade is slightly more skewed towards the long side since I\u2019m buying additional 115.", "Also, please note, because of this constraint, we cannot really trade pairs if the beta is \u2013ve, at least, not always.", "Remember, I initiated this trade when the residual value was -2.54. The idea was to keep the position open and wait for the target (-1 on residual) or stop loss (-3 on residual) was hit. Until then, it was just a waiting game.", "To track the position live, I\u2019ve developed a basic excel tracker. Of course, if you are a programmer, you can do much better with these accessories, but given my limited abilities, I put up a basic position tracker in excel. Here is the snapshot, of course, you can download this sheet from the link posted below.", "", "The position tracker has all the basic information about the pair. I\u2019m guessing this is a fairly easy sheet to understand. I\u2019ve designed it in such a way that upon entering the current values of X & Y, the latest Z score is calculated and also the P&L. I\u2019d encourage you to play around this sheet, even better if you can build one yourself \u263a", "Once the position is taken, all one has to do is track the z-score of the residual. This means you have to keep tracking the values and the respective z-scores. This is exactly what I did. In fact, for the sake of this chapter, my colleague, Faisal, logged all the values (except for the 14th and 15th). Here are the logs \u2013", "", "As you can see, the current values were tracked and the latest z-score was calculated several times a day. The position was open for nearly 7 trading session and this is quite common with pair trading. I\u2019ve experienced positions where they were open for nearly 22 -25 trading sessions. But here is the thing \u2013 as long as your math is right, you just have to wait for the target or SL to trigger.", "Finally, on 23rd May morning, the z-score dropped to the target level and there was a window of opportunity to close this trade. Here is the snapshot \u2013", "", "Notice, the gains in Tata Motors DVR is much larger than the loss in Tata Motors. In fact, when we take the trade, we will never know which of the two positions will make us the money. The idea, however, is that one of them will move in our favor and the other won\u2019t (or may). It\u2019s however, just not possible to identify which one will be the breadwinner.", "The position tracker for the final day (23rd May) looked like this \u2013", "", "The P&L was roughly Rs.14,000/-, not bad I\u2019d say for a relatively low-risk trade.\u263a", "Alright guys, over the last 13 chapter, we have discussed everything I know about pair trading. I personally thing this is a very exciting way of trading rather than blind speculative trading. Although less risky, pair trade has its own share of risk and you need to be aware of the risk. One of the common ways to lose money is when the pair can continue to diverge after you initiate the position, leaving you with a deep loss. Further, the margin requirements are slightly higher since there are two contracts you are dealing with. This also means you need to have some buffer money in your account to accommodate daily M2M.", "There could be situations where you will need to take a position in the spot market as well. For example on 23rd May, there was a signal to go short on Allahabad Bank (Y) and long on Union Bank (X). The z-score was 2.64 and the beta for this pair is 0.437.", "Going by beta neutrality, for every 1 share of Allahabad Bank (Y), I need 0.437 shares of Union Bank (X). The Lot size of Allahabad Bank is 10,000, this implies I need to buy 4378 shares of Union Bank. However, the lot size of Union Bank is 4000, hence I had to buy 370 shares in the spot market.", "", "Well, I hope I trade is successful \u263a", "I know most of you would want the pair data sheet made available. We are working on making this sheet available to you on a daily basis so that you can track the pairs. Meanwhile, I would suggest you try and build this algo yourself. If you have concerns, please post it below and I will be happy to assist.", "If you don\u2019t know how to program then you have no option but to find someone who knows programming and convince him or her that there is money to be made, this is exactly what I did \u263a", "Lastly, I would like to leave you with a thought \u2013", "Beyond Pair, trading lies something called as multivariate regression. By no stretch of the imagination is this easy to understand, but let me tell you if you can graduate to this arena, the game is different.", "Download the Position Tracker and Pair Datasheet below:", "Download Position Tracker", "Download Pair Datasheet", "Hey Karthik,\nhow do we position size the trade? Is it possible for us to know the amount we would lose if the trade goes wrong?", "You will have to go by beta neutrality to position size this trade. Have explained this in the chapter.", "It is hard to know how much you may lose in advance as the trade is on the z-score.", "hey Karthik,\nI understood the beta neutrality part of position size. My question is, let me take an example from above. lets say 1 lot of tata motors is equal to 1 lot of tata motors DVR. In this case if I want to trade 2 lots of each of the script then how do I know if it is safe for me to position 2 lots assuming I have funds to take the position. That\u2019s why I wanted to know if their is any way if we could know the amount of loss we would suffer in case the SL hits. Assuming I am willing to risk 5% of my account in one trade. If trading 1 lot of both has a SL at 2.5% then I can probably do 2 lots right? Is there any rough approximation of finding out the loss. I am not worried about winning because we are entering at 2SD level. And from the trade you mentioned above, you have entered the trade of tata and tata dvr on 14th and profit was taken on 23rd. Assume you have not got the profit signal and the trade is open, there was a quaterly result announcement on 24th, what do you recommend us to do? Should we close the trade or keep it open if there is any situation like this?\nThank you.", "I get your concern, Nikhil. Unfortunately, there is no way this can translate to a Rupee value. Or maybe I need to do some research, I will certainly get back to you on this. But here is what I have observed, whenever this position makes a loss (assuming its initiated at 2.5SD), it is usually in the range of 10-12K per beta neutral pair. This is purely from my observation and no concrete science backing this.", "Thanks Karthik.\nWhat about the 2nd question on result announcement part?", "Hello sir\nI have a doubt. Are the regression parameters \u201cstatic\u201d or \u201cdynamic\u201d in your basic excel tracker sheet? As we know these estimators (coefficients, std. error\u2026.) have variance. Everytime we regress the securities the values of the estimators get varied. So taking the parameters of the eqn. y=mx+c as constant and calculating Z-Score based on earlier calculated estimators might give some error, i guess.\nWhat is your view, sir?\nThank you very much for this most awaited chapter, sir!\nVarsity student", "You are right on that. Given this, you may also want to look at the variance or standard error of the intercept as well. However, these trades are open for few days, unless there is a drastic move in the share price, you will not experience big changes in the variables.", "When we run linear regression using python statsmodels library we don\u2019t get STD error of residuals in the output. Is there any formula to calculate the STD error using residual values?", "You actually don\u2019t need the standard error of residuals, you only need the residuals. The standard deviation of the residuals is the standard error of residuals.", "How to calculate z score", "You can divide the residual by standard error of residual to get the Z-score.", "Sir what is use of Z-score.M not geeting.", "Z-Score tells you where the variable is with respect to its mean. For example, a Z-score of 2.5 indicates that the variable is 2.5 standard deviations away from the mean.", "Thanks a lot sir", "Welcome!", "Can this method be used in cash also or in future only because I have less capital also trial purpose can pair with small quantities", "Its best if you do it in futures because the strategy requires you to short stocks as well, which is possible only in futures.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/M10-C13-cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-1_pd.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-2_SE.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-3_trade.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-4_trade-execute.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-5_pt.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-6_logs.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-7_exit.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-8_close.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/Image-9_AU.png", "https://secure.gravatar.com/avatar/32480f30f4117ab224e832b19ea81f1a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/32480f30f4117ab224e832b19ea81f1a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/32480f30f4117ab224e832b19ea81f1a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e892a938e5a8a1b515a291a513bec526?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b27c0a6655fdfb04463f96a8eaebd85b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/543c38252d1d0557c342f7880a4449aa?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/543c38252d1d0557c342f7880a4449aa?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b27c0a6655fdfb04463f96a8eaebd85b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "14. Live Example \u2013 2", "text": ["I know, the discussion on pair trading was to end with the previous chapter, but I thought I had to discuss a special case before we finally wrap up. I\u2019ll also try and keep this chapter really short \u263a", "So here you go.", "I ran through the pair trading algo y\u2019day evening (28th May) and found a very interesting trade. Here are the regression parameters \u2013", "What do you think of it? Perfect isn\u2019t it? Its ICICI and HDFC, two of the largest private sector banks, both have similar business landscape, both have a similar revenue stream, both regulated by RBI. Perhaps the perfect candidate for a pair trade, right?.", "The Adf value is 0.048, which means there is only 4.8% chance that the residual is non-stationary or about 95.2% chance of the residuals being stationary, which is fantastic.", "The std_err is +2.67, which is a perfect residual value to initiate a short pair trade. The trade here is short HDFC and go long on ICIC.", "So, how do we position size this? Here are the price and lot size details \u2013", "Remember we discussed position size in the previous chapter. We look at the beta and estimate the number of shares required for this trade.", "The beta is 0.79, this means, every 1 share of Y needs to be offset with 0.79 shares of X. The lot size of HDFC (Y) is 500, this means to offset the beta, we need 395 shares of ICICI (X).", "Do you see the problem here? The lot sizes simply do not match.", "", "We cannot simply trade 1 lot each here like we did in the TATA Motors and Tata Motors DVR example, discussed in the previous chapter. If we do, then this won\u2019t be a beta neutral trade.", "Hence to position size this, we need to work around with the lot sizes \u2013", "The lot size of ICIC is 2750, beta is 0.79, lot size of HDFC is 500. Given this, that the lot size is higher than HDFC, what should be the minimum number of HDFC shares which will beta neutral 2750 shares of ICICI.", "To figure this out, we simply divide \u2013", "2750/0.79", "= 3481.01", "Since the lot size of HDFC is 500, we can round this off to 3500. Considering the lot size of HDFC is 500, this will be 7 lots of HDFC against 1 lot of ICICI.", "Alright, now that we know the position size as well, here is the big question \u2013 will you take this trade?", "Everything seems perfect, right? ADF has a desirable value, residual is at 2.67 SD, the two stocks are highly correlated, the business is similar. So what can go wrong?", "Yes, I agree, everything looks good, but on a closer look, the intercept reveals a slightly different story.", "To understand this, we need to quickly revisit the regression equation \u2013", "y = Beta * x + Intercept + Residual", "If you think about this equation, we are trying to explain the stock price of Y in terms of the stock price of X multiplied by its beta. The intercept is essentially that portion of the y\u2019s stock price which the model cannot explain, and the residual is the difference between predicted y and actual y.", "Going by this, a large intercept implies that a large portion of Y\u2019s stock price cannot be explained by the regression model.", "In this case, the intercept is 1626. The stock price of HDFC is 2024 per share, this means, 1626 out of 2024 cannot be explained by the regression equation. This means, the regression equation cannot explain nearly 80% (1626/2024) of Y\u2019s stock price or in other words the equation can explain only 20% of the equation, which according to me is quite tricky.", "This further implies, that if we are trading this pair, then we are essentially trading a very small probability here. I\u2019d rather avoid this and look for another opportunity than trade this. Of course, I know traders who would love to jump in and take this trade, but for someone like me, I\u2019d look at risk first and then the reward \u263a", "Good luck!", "Download Pair Datasheet", "Thanks for the further insight", "Good luck, Kalpana.", "Hello sir\n I have a doubt.\nHDFC= 0.79*ICICI+ INTERCEPT+RESD\nFor every 100 shares of ICICI we need 79 shares of HDFCBANK. 1 Lot (ICICI)= 2750. Thus we require 2750*0.79 or 2172 shares of HDFCBANK. Therefore we need 2172/500 or 4 lots (approx) of HDFC to trade.\n1 lot of ICICIBANK and 4 lots of HDFCBANK, i think, is a combination.\nThanks", "For every 0.79 shares of ICICI, we need 1 share of HDFC. Given the lot size of ICICI as 2750, we need 2750/0.79 = 3481 shares of HDFC, therefore rounded off at 3500.", "Thank you, sir. I got it.", "Cheers!", "Hi Sir. Thanks for bringing in another angle which we couldn\u2019t think of. Its like inhaling a trading wisdom!", "Just wanted to find out below;", "\u2013 What are chances of getting stopped out say for ex: out of 100 trades (Just to asess success rate) both in 1st method pair trade method (correlation) and 2nd method (regression).", "I\u2019ve stopped using the first method long ago, Thirumal, and for the 2nd method, I think the success ratio is fairly higher something around the region of 6 of 10 trades working in your favor. The key here is to keep a sharp eye on risk parameters.", "Thank you for the information sir", "Welcome!", "What intercept value is right you think?? Pair I am tracking explains 71.83 of NIFTy(y).", "70-80% or higher is a good equation according to me. I\u2019d be hesitant below that.", "In today\u2019s session it fell down to 63% , Do you think I should wait before it jumps back above 70% to take the trade.", "Yes, that would be better, Akshay. Better safe than sorry \ud83d\ude42", "Hey Karthik,\nJust wanted so Thank You, since you started this pair trading chapter I spent most of my time thinking about perfect pair trade setup.\nI have finally found out using multiple regression method an equation that explains almost 99% of dependent variable.\nIs it too perfect to be true?", "99% seems too good to be true, Akshay \ud83d\ude42\nWhich pair is this?", "I am using more than one independent variable to predict just one dependent variable, like using few heavy weights to predict Index.", "Yes, this is possible in a multivariate regression. But we have not really discussed that here \ud83d\ude42", "I tried using regression concept between two stocks but it was quite difficult to find stationarity, so I reduced my time frame & used multivariate regression. This is providing better results & stationarity.", "Nice, good luck Akshay!", "Hi Karthik,", "Amazing write-up!!!", "Just a query on hdfc hdfc bank pair. In last 15 days there was a deviation but it never reverted which is strange given it is a highly co-integrated pair.", "Request your detailed analysis as a live example on this pair:", "1. Whether trade was there in the first place ?\n2. Which date would have been the best entry ?\n3. Did it hit the stop loss? What should be the SL in such cases ?\n4. Is averaging suggested if it moves against you ?", "Thanks in advance.", "Regards\nDeepu", "Deepu, I don\u2019t track HDFC and HDFC Bank as a pair so I wont be able to answer this question.\nOn your query with averaging, no its not a good idea to average it out. Not just with pair, but every other trade.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/05/M10-C14-Cartoon-1.png", "https://secure.gravatar.com/avatar/b23d3b881751c095f16025b7da7bcae9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d920639a8b0f456f3b6a15e4bf972550?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e18e38d85fcd883e593115a60980630d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e18e38d85fcd883e593115a60980630d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4fbc9fa62176d8d3c22b90ec12df1ada?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4fbc9fa62176d8d3c22b90ec12df1ada?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4fbc9fa62176d8d3c22b90ec12df1ada?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4fbc9fa62176d8d3c22b90ec12df1ada?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4fbc9fa62176d8d3c22b90ec12df1ada?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4532161df33f74df0bedb696fde82826?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "15. Calendar Spreads", "text": ["I had briefly introduced the concept of calendar spreads in Chapter 10\u00a0of the Futures Trading module. Traditionally calendar spreads are dealt with a price based approach. Here is a quick recap on how this is done \u2013", "Based on the mispricing, you either buy the current month contract and sell the mid-month contract or sell the current month contract and buy the mid-month contract. Here is an example of a Calendar Spread \u2013", "Here you buy and sell the futures of the same stock, but of contracts belonging to different expiries like showcased above. \u00a0The difference between prices of the two contracts is what is expected to made here. The risk is extremely low in calendar spreads so therefore the money you make on calendar spreads is also small. If you are trader like me, who is averse to risk, then this is something you may like.", "This approach to performing a calendar spread is a decent one.", "By the way, if you are not familiar with what I\u2019m discussing, then I\u2019d suggest you read Chapter 10 in the Futures Trading module to get a quick perspective on the classic calendar spreads approach. \u00a0I think it forms a crucial foundation on top of which you can build other variant/styles of calendar spreads.", "So let\u2019s get started straight away.", "If you have read the chapters on pair trading, then understanding the calendar spread logic is quite straightforward. This simplified approach assumes that the current price of futures is a reflection of everything known in the market. The known set of information can extend from news on the stock, corporate action, discount/premium, fair value, and literally everything out there which is relevant to the stock.", "", "Now, if the above assumption is valid, then probably we can use the price itself as a trigger to identify opportunities to set up a calendar spread trade. This kind of simplifies the whole approach. Calendar spreads are a low-risk strategy so therefore do not expect big bucks from this strategy. However, since you simultaneously buy-sell the same asset, you take out the directional risk involved in the trade, hence it does make sense to top up the leverage. Also, unlike pair trade, the calendar spread trades can be ultra-short term in nature, with most of the trades closing within the same day. Before I take up an example to explain this, I\u2019ll quickly give you an overview of this is done.", "Start with downloading the continuous futures closing prices of the stock for both near month and next month contracts.", "Calculate the daily historic difference between the two contracts and generate a time series. Calculate the mean and standard deviation of the time series. Using the mean and standard deviation data we can estimate the range for the difference. A trading signal is triggered when the difference between the two contracts move to mean plus or minus 1 standard deviation and the trade is closed when the difference collapses to mean.", "You get the point, don\u2019t you \u263a", "I\u2019ve taken the example of SBIN to illustrate calendar spreads. I have download the continuous futures data from Zerodha Pi (Zerodha\u2019s desktop trading application) for last 200 trading days. I have got the closing prices on excel sheet, and this is how it looks \u2013", "", "The next step is to calculate the difference between the two contracts. It is advisable to subtract the price of near month contract from the current month contract. This is because, all else equal, the futures price of Near month contract is always higher than the previous month contract owing to the \u2018cost of carry\u2019. Chapter 10 of futures module explains this in more detail.", "The difference is calculated and the time series data is generated, as shown below \u2013", "I will now calculate the mean and standard deviation on this time series. The mean will give me an estimate on how much of the difference is acceptable on a \u2018day to day\u2019 basis and at the same time, the standard deviation will give me a sense of variation in this difference. Here is the snapshot.", "", "You can calculate the mean and standard deviation on excel using the \u2018=Average ()\u2019 and \u2018=stdev()\u2019 functions respectively.", "The mean of 1.227 tells me that, all else equal, the difference between the two contracts should be 1.227 or in that vicinity. This essentially means, there is no trade opportunity if the spread (or the difference) between the two contracts hovers around this value.", "We now use the standard deviation value and the mean value to calculate the range of the spread \u2013", "I had mentioned that the spread can hover around 1.227, but I had not quantified \u2018vicinity\u2019, which is quite important. The range calculation does just that, it helps us quantify the range within which (vicinity) the spread can vary on a daily basis.. Any value of the spread outside this range gives us an opportunity to set up a calendar spread.", "If the spread has increased beyond the upper range of 1.7205, it means either the near month contract has increased in value or the current month contract has reduced in value.", "The rule of thumb in any arbitrage is to always buy the asset in the cheaper market and sell the same asset in the expensive market, hence the trade here would be to buy the current month contract and sell the near month contract.", "Likewise, if the spread has fallen below the lower range value i.e 0.7335, this means the current month has become expensive and near month has become cheaper. Hence, the trade here is to sell the current month and buy the near month contract.", "With this logic in perspective, let\u2019s evaluate the if SBIN has given us any opportunities over the last 200 trading days.", "Keeping the above pointers in perspective, we can conclude the following \u2013", "If you find it hard to figure out which contract to buy and which one to sell when a signal originates, then simply think in terms of the near month contract. Sell spread means sell the near month (therefore buy current month) and buy spread means buy the near-month (therefore sell the current month contract).", "In the excel sheet, I now look for the historical opportunities. I will identify the sell spread opportunities first. To do this, I simply have to apply a filter, to filter out all values above 1.7205. I\u2019ve done the same, here are the results \u2013", "As you can see, on 6 occasions, the spread increases beyond 1.7205 or the first standard deviation levels. On all these occasions, there was a trigger to sell, implying the spread would fall back to mean.", "In fact, here is how the spread behaved \u2013", "As you can notice, signals originate around month ends, probably due to expiry dynamics. Also, every trade has resulted in a profit (although small) and closed the very next day.", "Let us see how the buy spread trades have performed. I have filtered for all values below 0.7335, and here are the results \u2013", "", "There are close to 28 trade here and not all of them are successful. Of course, the losses are as small as the profits, if not smaller. I\u2019ll let you do the exact calculation, like the way I\u2019ve shown for the short trades.", "I hope this example gives you a general sense of how to carry out calendar spread. I\u2019m sure you\u2019d agree that this is far simpler and intuitive compared to the classic approach to calendar spreads.", "I have summarized my thoughts on Calendar spreads here and this will also double up as the key takeaways for this chapter \u2013", "Think about this, if you can backtest this across the entire universe of equity and commodities futures contract, you will essentially have at least a signal or 2 every day!", "I\u2019d love to hear your thoughts, so please do post your queries.", "Download the Excel Sheet", "PS: I won\u2019t be posting any new chapters for a while, but that does not mean I\u2019m not working on new content, it is just that the delivery format will be different and way more exciting!", "Stay tuned\u00a0\u263a", "Based on the mispricing, you either buy the current month contract and sell the mid-month contract or sell the current month contract and buy the mid-month contract. Here is an example of a Calendar Spread \u2013", "Buy TCS Futures expiring 28th June 2018 @ 1846\nSell TCS Futures expiring 28th June 2018 @ 1851 ( Pls correct this)", "Ah, silly typo, will fix it \ud83d\ude42", "Zerodha varsity is very helpful for people like me who are new to stock market, there are 10 module 9 have the option to download it as a pdf but the 10th module doesn\u2019t have this option please provide this option for module then also it will be very helpful and people like me can read it offline also.\nHope you will do this thanks in advance", "Sagar, that is because this module is not yet complete. PDF will be available when the module is completed.", "Hi, when will the pdf be available for download? will there be more modules?", "Will try and complete this by next month. Yes, we will have more modules.", "First comment! You are a savior Karthik sir. Thanks a ton.", "You saved yourself by learning something new \ud83d\ude42", "Thank you sir for a such simple and effective way.. this is where your style of teaching is so different..please look into teaching momentum investing in near future..this one topic i really want you to cover..hope you look into this soon\nthanks and you are doing very good to many in markets..God Bless\u2026", "Momentum investing is a part of the plan, Nidhi. However, I will have to prioritise one something else for now \ud83d\ude42", "Hey Karthik i really learnt a lot from varsity and it has helped me trade better, can you please do chapters related to market profile and order flow analysis?", "A chapter on the Market profile is long overdue. Will try and do that when possible. Thanks.", "Team..how would you execute this trade. As in how would you buy/sell sbin current month contract on last day of expiry and then carry to next day. like in eg of sbin we are buying current month contract on 31st August which will close that same day..but technically above we are closing on 1st sept..", "The data source is the continuous data, Manoj which means the action is always in the Current and Near month contracts. If the contract has expired, then the trade naturally moves to the next month contract (which is now considered current).", "Thanks Karthik", "So how many days are good for calculating mean. Also once you spot the difference between near month and current month which is above the mean and standard based on closing, should we initiate trade next morning. What if opening price of next day falls below or in range of our mean and std deviation", "Manoj, no point waiting here. You initiate the trade as and when you spot the opportunity. I\u2019d suggest you take the last 200 days avg as look back period.", "So does this mean we need to rollover our position and take up p/l by square off current trade.", "The ideal situation is when you can square off the position before the expiry. However, if you are not in a situation to do so, then you can rollover.", "Sir so we need to rollover both the future contracts which will lead to additional charges??", "Well, not much if you are with a discount broker \ud83d\ude42", "Respected\n Sir please inform me details about REFERRAL benefits. My REFERRAL CANDIDATE trade hassle free but I can\u2019t get any benefit. So please inform me details. On thing is your ZERODHA SUPPORT TEAM NOT SUPPORT PROPERLY to open new account. My business EXECUTIVES ROOPA, can\u2019t co operate with my REFERRAL friends. She don\u2019t pic up my FONE or not CALL ME BACK", "Can you please drop your query to [email\u00a0protected]?", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2018/06/M10-C15-Cartoon.png", "https://zerodha.com/varsity/wp-content/uploads/2018/06/Image-1_data.png", "https://zerodha.com/varsity/wp-content/uploads/2018/06/Image-2_difference.png", "https://zerodha.com/varsity/wp-content/uploads/2018/06/Image-3_param.png", "https://zerodha.com/varsity/wp-content/uploads/2018/06/Image-4_sell.png", "https://zerodha.com/varsity/wp-content/uploads/2018/06/Image-5_buy.png", "https://secure.gravatar.com/avatar/cea23ebff18a16375ce629ecfd83cdd7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0b4654b7ea72a5daa7ada1401ffb215e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1a6a2df0e05540b8357a99e02dc16e6c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e18e38d85fcd883e593115a60980630d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/7f74f4313f9decb327be17b65ef019a7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/576784e9b7066490c21aa5dabd7b1807?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0bc3c34a0d914e6df71ba1dcdac0b4a2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0bc3c34a0d914e6df71ba1dcdac0b4a2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/97966af4674392e1919863ce67853227?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/30f0a144d86229dd028bb5b380c69cc7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/957da19dea90abd7e9e49505d7970848?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th width=\"73\"><strong>Signal Date</strong></th>\n<th width=\"95\"><strong>Sell spread value</strong></th>\n<th width=\"99\"><strong>Trade closing date</strong></th>\n<th width=\"95\"><strong>Buy spread value</strong></th>\n<th width=\"118\"><strong>P&amp;L </strong></th>\n</tr>\n<tr>\n<td width=\"73\">31-08-2017</td>\n<td width=\"95\">2.45</td>\n<td width=\"99\">1-09-2017</td>\n<td width=\"95\">1.35</td>\n<td width=\"118\">1.1</td>\n</tr>\n<tr>\n<td width=\"73\">28-092017</td>\n<td width=\"95\">2.6</td>\n<td width=\"99\">29-09-2017</td>\n<td width=\"95\">1.15</td>\n<td width=\"118\">1.45</td>\n</tr>\n<tr>\n<td width=\"73\">30-11-2017</td>\n<td width=\"95\">2.35</td>\n<td width=\"99\">01-12-2017</td>\n<td width=\"95\">1.55</td>\n<td width=\"118\">0.8</td>\n</tr>\n<tr>\n<td width=\"73\">28-12-2012</td>\n<td width=\"95\">3.8</td>\n<td width=\"99\">29-12-2017</td>\n<td width=\"95\">1.45</td>\n<td width=\"118\">2.35</td>\n</tr>\n<tr>\n<td width=\"73\">22-02-2018</td>\n<td width=\"95\">2.5</td>\n<td width=\"99\">23-03-2018</td>\n<td width=\"95\">1.3</td>\n<td width=\"118\">1.2</td>\n</tr>\n<tr>\n<td width=\"73\">26-04-2018</td>\n<td width=\"95\">1.85</td>\n<td width=\"99\">27-04-2018</td>\n<td width=\"95\">0.6</td>\n<td width=\"118\">1.25</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "2. \u0930\u0947\u0917\u0941\u0932\u0947\u091f\u0930\u094d\u0938 \u2013 \u0928\u093f\u092f\u093e\u092e\u0915", "text": ["\u0939\u092e\u0928\u0947 \u092a\u0939\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u092a\u0922\u093c\u093e \u0925\u093e \u0915\u093f \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0928\u093f\u0935\u0947\u0936 \u0915\u093e \u090f\u0915 \u0910\u0938\u093e \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u092e\u0939\u0902\u0917\u093e\u0908 \u0926\u0930 \u0938\u0947 \u0915\u0939\u0940\u0902 \u091c\u094d\u092f\u093e\u0926\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0926\u0947\u0928\u0947 \u0915\u0940 \u0915\u094d\u0937\u092e\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u0938\u0935\u093e\u0932 \u092f\u0947 \u0906\u0924\u093e \u0939\u0948 \u0915\u093f \u0907\u0938\u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0947 \u0915\u0948\u0938\u0947? \u0907\u0938\u0915\u093e \u091c\u0935\u093e\u092c \u091c\u093e\u0928\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u092f\u0947 \u091c\u093e\u0928\u0928\u093e \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u094c\u0928 \u0915\u094c\u0928 \u0938\u0947 \u0932\u094b\u0917 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092f\u0947 \u092a\u0942\u0930\u093e \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0948\u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u091c\u0948\u0938\u0947 \u0939\u092e \u0905\u092a\u0928\u0947 \u092c\u0917\u0932 \u0915\u0947 \u0915\u093f\u0930\u093e\u0928\u093e \u0926\u0941\u0915\u093e\u0928 \u091c\u093e \u0915\u0930 \u091c\u093c\u0930\u0942\u0930\u0924 \u0915\u0940 \u091a\u0940\u091c\u0947\u0902 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902, \u0935\u0948\u0938\u0947 \u0939\u0940 \u0939\u092e \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936, \u092f\u093e \u0916\u0930\u0940\u0926 \u092c\u093f\u0915\u094d\u0930\u0940\u00a0 \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092f\u093e \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u0947 \u0935\u0915\u094d\u0924 \u090f\u0915 \u0936\u092c\u094d\u0926 \u2013 \u091f\u094d\u0930\u093e\u0902\u091c\u0948\u0915\u094d\u091f (Transact) \u0906\u092a \u092c\u093e\u0930 \u092c\u093e\u0930 \u0938\u0941\u0928\u0947\u0902\u0917\u0947\u0964 \u091f\u094d\u0930\u093e\u0902\u091c\u0948\u0915\u094d\u091f \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0916\u0930\u0940\u0926-\u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0930\u0928\u093e\u0964 \u0914\u0930 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0915\u0940 \u092f\u0947 \u0916\u0930\u0940\u0926-\u092c\u093f\u0915\u094d\u0930\u0940 \u0906\u092a \u092c\u093f\u0928\u093e \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0947 \u0928\u0939\u0940\u0902 \u0915\u0930 \u0938\u0915\u0924\u0947\u0964", "\u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0947 \u0914\u0930 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u094b \u092e\u093f\u0932\u093e\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u092f\u0947 \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u093f\u0938\u0940 \u0926\u0941\u0915\u093e\u0928 \u092f\u093e \u0907\u092e\u093e\u0930\u0924 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u0926\u093f\u0916\u0924\u093e, \u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a\u0915\u0947 \u0915\u093f\u0930\u093e\u0928\u0947 \u0915\u0947 \u0926\u0941\u0915\u093e\u0928 \u0926\u093f\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0907\u0932\u0947\u0915\u094d\u091f\u094d\u0930\u0949\u0928\u093f\u0915 \u0930\u0942\u092a \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0906\u092a \u0915\u0902\u092a\u094d\u092f\u0942\u091f\u0930 \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u0907\u0938 \u092a\u0930 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0935\u0939\u093e\u0901 \u0916\u0930\u0940\u0926 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u093e \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915 \u092c\u093e\u0924 \u0915\u093e \u092f\u0939\u093e\u0901 \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u0947\u0902 \u0915\u093f \u092f\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0916\u0930\u0940\u0926 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u093e \u0915\u093e\u092e \u0906\u092a \u092c\u093f\u0928\u093e \u0938\u094d\u091f\u0949\u0915 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u0928\u0939\u0940\u0902 \u0915\u0930 \u0938\u0915\u0924\u0947\u0964 \u0938\u094d\u091f\u0949\u0915 \u092c\u094d\u0930\u094b\u0915\u0930 \u090f\u0915 \u0930\u091c\u093f\u0938\u094d\u091f\u0930\u094d\u0921 \u092e\u0927\u094d\u092f\u0938\u094d\u0925 \u0939\u094b\u0924\u093e \u0939\u0948, \u091c\u093f\u0938\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u092e \u0906\u0917\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u092c\u0924\u093e\u090f\u0902\u0917\u0947\u0964", "\u092d\u093e\u0930\u0924 \u0926\u0947\u0936 \u092e\u0947\u0902 \u0926\u094b \u092e\u0941\u0916\u094d\u092f \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0939\u0948\u0902- \u092c\u0949\u092e\u094d\u092c\u0947 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c ( Bombay Stock Exchange- BSE) \u0914\u0930 \u0928\u0947\u0936\u0928\u0932 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c (National Stock Exchange- NSE) \u0964 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0915\u0941\u091b \u0915\u094d\u0937\u0947\u0924\u094d\u0930\u0940\u092f \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092d\u0940 \u0939\u0948\u0902 \u091c\u0948\u0938\u0947 \u092c\u0948\u0902\u0917\u0932\u094b\u0930 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c,\u00a0 \u092e\u0926\u094d\u0930\u093e\u0938 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c\u0964 \u0915\u094d\u0937\u0947\u0924\u094d\u0930\u0940\u092f \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092a\u0930 \u0905\u092c \u0928\u093e \u0915\u0947 \u092c\u0930\u093e\u092c\u0930 \u0932\u094b\u0917 \u0939\u093f\u0938\u094d\u0938\u093e \u0932\u0947\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u090f\u0915 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0938\u0947 \u0932\u0947\u0915\u0930 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0901 \u0924\u0915 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u0940 \u0939\u0948\u0902\u0964 \u091c\u094b \u0932\u094b\u0917 \u092d\u0940 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0909\u0928\u094d\u0939\u0947 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092a\u093e\u0930\u094d\u091f\u093f\u0938\u093f\u092a\u0947\u0902\u091f\u094d\u0938 (Market Participants) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0928 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092a\u093e\u0930\u094d\u091f\u093f\u0938\u093f\u092a\u0947\u0902\u091f\u094d\u0938 \u0915\u094b \u0915\u0908 \u0915\u0948\u091f\u0947\u0917\u0930\u0940 \u092f\u093e \u0935\u0930\u094d\u0917 \u092e\u0947\u0902 \u092c\u093e\u0901\u091f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0915\u0941\u091b \u0915\u0948\u091f\u0947\u0917\u0930\u0940 \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0928\u0940\u091a\u0947 \u0926\u0940 \u0917\u0908 \u0939\u0948\u0964", "\u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0915\u0948\u091f\u0947\u0917\u0930\u0940 \u092f\u093e \u0935\u0930\u094d\u0917 \u0915\u093e \u0939\u094b, \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u092d\u093e\u0917 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u0940 \u0939\u0930 \u090f\u0902\u091f\u093f\u091f\u0940 \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0940 \u0939\u0948\u0964 \u0914\u0930 \u091c\u092c \u092a\u0948\u0938\u0947 \u0915\u0940 \u092c\u093e\u0924 \u0906\u0924\u0940 \u0939\u0948, \u0924\u094b \u0907\u0902\u0938\u093e\u0928 \u0915\u0947 \u0905\u0902\u0926\u0930 \u0932\u093e\u0932\u091a \u0914\u0930 \u0921\u0930 \u0926\u094b\u0928\u094b\u0902 \u092c\u0939\u0941\u0924 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0915\u094b\u0908 \u092d\u0940 \u0907\u0902\u0938\u093e\u0928 \u092c\u0921\u093c\u0947 \u0906\u0930\u093e\u092e \u0938\u0947 \u0932\u093e\u0932\u091a \u0914\u0930 \u0921\u0930 \u0915\u0947 \u091a\u0915\u094d\u0915\u0930 \u092e\u0947\u0902 \u092a\u0921\u093c \u0915\u0930 \u0917\u0932\u0924 \u0915\u093e\u092e \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0918\u094b\u091f\u093e\u0932\u0947 \u092d\u0940 \u0939\u0941\u090f \u0939\u0948\u0902, \u091c\u0948\u0938\u0947 \u0939\u0930\u094d\u0937\u0926 \u092e\u0947\u0939\u0924\u093e \u0918\u094b\u091f\u093e\u0932\u093e \u0935\u0917\u0948\u0930\u0939\u0964 \u0907\u0938\u0932\u093f\u090f \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u090f\u0915 \u0910\u0938\u0940 \u092c\u0949\u0921\u0940 \u0939\u094b, \u091c\u094b \u0928\u093f\u092f\u092e \u0915\u093e\u0928\u0942\u0928 \u092c\u0928\u093e\u090f \u0914\u0930 \u092f\u0947 \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0947 \u0915\u093f \u0915\u093f\u0938\u0940 \u0924\u0930\u0939 \u0915\u0940 \u0917\u0932\u0924 \u0939\u0930\u0915\u0924\u0947\u0902 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0928 \u0939\u094b, \u0914\u0930 \u0938\u092d\u0940 \u0915\u094b \u092a\u0948\u0938\u093e \u0915\u092e\u093e\u0928\u0947 \u0915\u093e \u0938\u0939\u0940 \u092e\u094c\u0915\u093e \u092e\u093f\u0932\u0947\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0930\u0947\u0917\u0941\u0932\u0947\u091f\u0930 \u0915\u0940 \u091c\u093c\u0930\u0942\u0930\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u093e \u0930\u0947\u0917\u0941\u0932\u0947\u091f\u0930 \u0939\u0948 \u092d\u093e\u0930\u0924\u0940\u092f \u092a\u094d\u0930\u0924\u093f\u092d\u0942\u0924\u093f \u0914\u0930 \u0935\u093f\u0928\u093f\u092e\u092f \u092c\u094b\u0930\u094d\u0921 ( The Securities and Exchange Board of India- SEBI) \u091c\u093f\u0938\u0947 \u0939\u092e \u0938\u0947\u092c\u0940 \u0915\u0947 \u0928\u093e\u092e \u0938\u0947 \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902\u0964 \u0938\u0947\u092c\u0940 \u0915\u093e \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f \u0939\u0948 \u092a\u094d\u0930\u0924\u093f\u092d\u0942\u0924\u093f\u092f\u094b\u0902 (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c\u093c) \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0947 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0947 \u0939\u093f\u0924\u094b\u0902 \u0915\u093e \u0938\u0902\u0930\u0915\u094d\u0937\u0923 \u0915\u0930\u0928\u093e, \u092a\u094d\u0930\u0924\u093f\u092d\u0942\u0924\u093f \u092c\u093e\u091c\u093e\u0930 (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c\u093c \u092e\u093e\u0930\u094d\u0915\u0947\u091f) \u0915\u0947 \u0935\u093f\u0915\u093e\u0938 \u0915\u093e \u0909\u0928\u094d\u0928\u092f\u0928 \u0915\u0930\u0928\u093e \u0924\u0925\u093e \u0909\u0938\u0947 \u0935\u093f\u0928\u093f\u092f\u092e\u093f\u0924 \u0915\u0930\u0928\u093e \u0914\u0930 \u0909\u0938\u0938\u0947 \u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u092f\u093e \u0909\u0938\u0915\u0947 \u0906\u0928\u0941\u0937\u0902\u0917\u093f\u0915 \u0935\u093f\u0937\u092f\u094b\u0902 \u0915\u093e \u092a\u094d\u0930\u093e\u0935\u0927\u093e\u0928 \u0915\u0930\u0928\u093e \u0964 \u0938\u0947\u092c\u0940 \u092f\u0947 \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0924\u0940 \u0939\u0948 \u0915\u093f", "", "\u0907\u0928 \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f\u094b\u0902 \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0941\u090f \u092f\u0947 \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0938\u0947\u092c\u0940 \u0938\u092d\u0940 \u090f\u0902\u091f\u093f\u091f\u0940 \u0915\u094b \u0930\u0947\u0917\u0941\u0932\u0947\u091f \u0915\u0930\u0947\u0964 \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u0938\u092d\u0940 \u090f\u0902\u091f\u093f\u091f\u0940 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u0930 \u0938\u0947 \u0938\u0940\u0927\u0947 \u0924\u094c\u0930 \u092a\u0930 \u091c\u0941\u0921\u093c\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u093f\u0938\u0940 \u090f\u0915 \u0915\u0940 \u0917\u0932\u0924 \u0939\u0930\u0915\u0924 \u0938\u0947 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0909\u0920\u093e \u092a\u091f\u0915 \u092e\u091a \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0938\u0947\u092c\u0940 \u0928\u0947 \u0907\u0928 \u090f\u0902\u091f\u093f\u091f\u0940 \u0915\u0947 \u0932\u093f\u090f \u0905\u0932\u0917 \u0905\u0932\u0917 \u0928\u093f\u092f\u092e \u0914\u0930 \u0915\u093e\u0928\u0942\u0928 \u092c\u0928\u093e\u090f \u0939\u0948\u0964 \u0938\u092d\u0940 \u0915\u094b \u0907\u0928 \u0928\u093f\u092f\u092e \u0915\u093e\u0928\u0942\u0928 \u0915\u0947 \u0926\u093e\u092f\u0930\u0947 \u092e\u0947\u0902 \u0930\u0939 \u0915\u0930 \u0915\u093e\u092e \u0915\u0930\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0928 \u0928\u093f\u092f\u092e \u0915\u093e\u0928\u0942\u0928 \u0915\u0940 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0938\u0947\u092c\u0940 \u0915\u0947 \u0935\u0947\u092c\u0938\u093e\u0907\u091f \u092a\u0930 \u201c\u0915\u093e\u0928\u0942\u0928\u0940 \u0922\u093e\u0901\u091a\u093e\u201d \u0938\u0947\u0915\u094d\u0936\u0928 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u0940\u0964", "", "\u092c\u094b\u0939\u094b\u0924 \u0905\u091b\u093f \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u0948\u0902\u0964 \u0928\u090f \u0932\u094b\u0917\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0936\u0947\u0930\u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0947 \u092c\u093e\u0930\u0947\u092e\u0947\u0902 \u091c\u093e\u0928\u094d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f\u0964", "Beginner", "Good information for beginners like us", "Pl provide hot shears", "Superb,Excellent\u2026\u2026\u2026\u2026\u2026\u2026\u2026..", "You\u2019re welcome \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/07/Ch2-title.jpg", "https://secure.gravatar.com/avatar/0267c2223eb5c56744bc760c48637775?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f279712a1e1bd1271442e7a7ce074d9e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f279712a1e1bd1271442e7a7ce074d9e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/138e5b98bca9e0309a8ab7a797ff7f6a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b9c9315be26a3fa6d2b8914690ed7d02?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u090f\u0902\u091f\u093f\u091f\u0940</th>\n<th>\u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923</th>\n<th>\u0915\u094d\u092f\u093e \u0915\u0930\u0924\u0940 \u0939\u0948\u0902 \u092f\u0947 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0901</th>\n<th>\u0906\u0938\u093e\u0928 \u0936\u092c\u094d\u0926\u094b\u0902 \u092e\u0947\u0902 \u0938\u092e\u091d\u093f\u090f</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>\u0915\u094d\u0930\u0947\u0921\u093f\u091f \u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u091c\u0947\u0902\u0938\u0940 (Credit Rating Agency- CRA)</td>\n<td>CRISIL, ICRA, CARE</td>\n<td>\u0915\u0949\u0930\u092a\u094b\u0930\u0947\u091f\u094d\u0938 \u0914\u0930 \u0938\u0930\u0915\u093e\u0930 \u0915\u0947 \u0909\u0927\u093e\u0930 \u0932\u0947\u0928\u0947 \u0915\u0940 \u092f\u094b\u0917\u094d\u092f\u0924\u093e \u0915\u094b \u0930\u0947\u091f \u0915\u0930\u0924\u0940 \u0939\u0948</td>\n<td>\u0905\u0917\u0930 \u0938\u0930\u0915\u093e\u0930 \u092f\u093e \u0915\u094b\u0908 \u0915\u0902\u092a\u0928\u0940 \u0932\u094b\u0928 \u0932\u0947\u0928\u093e \u091a\u093e\u0939\u0924\u0940 \u0939\u0948, \u0924\u094b \u092f\u0947 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0901 \u091a\u0947\u0915 \u0915\u0930\u0924\u0940 \u0939\u0948\u0902 \u0915\u093f \u0938\u0930\u0915\u093e\u0930 \u092f\u093e \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u0932\u094b\u0928 \u091a\u0941\u0915\u093e\u0928\u0947 \u0915\u0940 \u0915\u094d\u0937\u092e\u0924\u093e \u0939\u0948 \u092f\u093e \u0928\u0939\u0940\u0902\u0964</td>\n</tr>\n<tr>\n<td>\u0921\u093f\u092c\u0947\u0902\u091a\u0930 \u091f\u094d\u0930\u0938\u094d\u091f\u0940\u091c ( Debenture Trustees)</td>\n<td>\u0924\u0915\u0930\u0940\u092c\u0928 \u0938\u093e\u0930\u0947 \u092c\u0948\u0902\u0915</td>\n<td>\u0915\u0949\u0930\u092a\u094b\u0930\u0947\u091f \u0921\u093f\u092c\u0947\u0902\u091a\u0930 \u0915\u0947 \u091f\u094d\u0930\u0938\u094d\u091f\u0940 \u0915\u0940 \u0924\u0930\u0939 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902</td>\n<td>\u091c\u092c \u0915\u093f\u0938\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u092a\u0948\u0938\u0947 \u0915\u0940 \u091c\u093c\u0930\u0942\u0930\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0924\u094b \u0935\u094b \u0921\u093f\u092c\u0947\u0902\u091a\u0930 \u0907\u0936\u094d\u092f\u0942 \u0915\u0930 \u0938\u0915\u0924\u0940 \u0939\u0948\u0902, \u091c\u093f\u0938 \u092a\u0930 \u0935\u094b \u0924\u092f \u092c\u094d\u092f\u093e\u091c \u0926\u0947\u0928\u0947 \u0915\u0940 \u092c\u093e\u0924 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0928\u093f\u0935\u0947\u0936\u0915 \u092f\u0947 \u0921\u093f\u092c\u0947\u0902\u091a\u0930 \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0921\u093f\u092c\u0947\u0902\u091a\u0930 \u091f\u094d\u0930\u0938\u094d\u091f\u0940 \u092f\u0947 \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u091c\u094b \u092c\u094d\u092f\u093e\u091c \u0926\u0947\u0928\u0947 \u0915\u0940 \u092c\u093e\u0924 \u0915\u0940 \u0925\u0940, \u0935\u094b \u0935\u0915\u094d\u0924 \u092a\u0930 \u0926\u0947\u0964</td>\n</tr>\n<tr>\n<td>\u0921\u0947\u092a\u094b\u0938\u093f\u091f\u094b\u0930\u0940\u095b ( Depositories)</td>\n<td>NSDL, CDSL</td>\n<td>\u0921\u0947\u092a\u094b\u0938\u093f\u091f\u094b\u0930\u0940\u095b \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0940 \u0938\u0947\u0915\u094d\u092f\u0942\u0930\u093f\u091f\u0940\u095b \u0915\u094b \u0938\u0941\u0930\u0915\u094d\u0937\u093f\u0924 \u0930\u0916\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0915\u0940 \u0930\u093f\u092a\u094b\u0930\u094d\u091f\u093f\u0902\u0917 \u0914\u0930 \u0938\u0947\u091f\u0932\u092e\u0947\u0902\u091f \u0915\u0930\u0924\u0940 \u0939\u0948\u0902</td>\n<td>\u091c\u092c \u0906\u092a \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0935\u094b \u0906\u092a\u0915\u0947 \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0906 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0938\u0947 \u0921\u0940\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0964 \u0907\u0928 \u0921\u0940\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u0915\u094b \u092e\u0948\u0928\u0947\u091c \u0915\u0930\u0928\u0947 \u0915\u093e \u0915\u093e\u092e \u092f\u0947 \u0926\u094b \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0901 \u0915\u0930\u0924\u0940 \u0939\u0948\u0902\u0964</td>\n</tr>\n<tr>\n<td>\u0935\u093f\u0926\u0947\u0936\u0940 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0928\u093f\u0935\u0947\u0936\u0915 ( Foreign Institutional Investors- FII)</td>\n<td>\u0935\u093f\u0926\u0947\u0936\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0901, \u092b\u0902\u0921\u094d\u0938 \u0914\u0930 \u0935\u093f\u0926\u0947\u0936\u0940 \u0928\u093e\u0917\u0930\u093f\u0915</td>\n<td>\u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e</td>\n<td>\u092f\u0947 \u0935\u093f\u0926\u0947\u0936\u0940 \u090f\u0902\u091f\u093f\u091f\u0940 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u091c\u094b \u092d\u093e\u0930\u0924 \u092e\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u092b\u0940 \u092c\u0921\u093c\u0940 \u0930\u0915\u092e \u0932\u0917\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0928\u0915\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u093e \u0905\u0938\u0930 \u092d\u093e\u0930\u0924\u0940\u092f \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0940 \u091a\u093e\u0932 \u092a\u0930 \u0938\u093e\u092b-\u0938\u093e\u092b \u0926\u093f\u0916\u0924\u093e \u0939\u0948\u0964</td>\n</tr>\n<tr>\n<td>\u092e\u0930\u094d\u091a\u0947\u0902\u091f \u092c\u0948\u0902\u0915\u0930\u094d\u0938</td>\n<td>\u0915\u093e\u0930\u094d\u0935\u0940, \u090f\u0915\u094d\u0938\u093f\u0938 \u092c\u0948\u0902\u0915, \u090f\u0921\u0932\u0935\u093e\u0907\u091c \u0915\u0948\u092a\u093f\u091f\u0932</td>\n<td>\u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u092e\u0926\u0926 \u0915\u0930\u0928\u093e \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0938\u0947 \u092a\u0948\u0938\u093e \u091c\u0941\u091f\u093e\u0928\u0947 \u092e\u0947\u0902</td>\n<td>\u0905\u0917\u0930 \u0915\u0902\u092a\u0928\u0940 \u0906\u0908\u092a\u0940\u0913 IPO \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u092a\u0948\u0938\u093e \u091c\u0941\u091f\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0940 \u0939\u0948, \u0924\u094b \u092e\u0930\u094d\u091a\u0947\u0902\u091f \u092c\u0948\u0902\u0915\u0930 \u0907\u0938 \u092a\u0942\u0930\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u092e\u0926\u0926 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964</td>\n</tr>\n<tr>\n<td>\u0910\u0938\u0947\u091f \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0915\u0902\u092a\u0928\u0940- Asset Management companies -AMC</td>\n<td>HDFC AMC, \u0930\u093f\u0932\u093e\u092f\u0902\u0938 \u0915\u0948\u092a\u093f\u091f\u0932, SBI \u0915\u0948\u092a\u093f\u091f\u0932</td>\n<td>\u092e\u094d\u092f\u0941\u091a\u0941\u0905\u0932 \u092b\u0902\u0921 \u0938\u094d\u0915\u0940\u092e\u094d\u0938 \u092c\u0947\u091a\u0924\u0940 \u0939\u0948\u0902</td>\n<td>AMC \u0932\u094b\u0917\u094b\u0902 \u0938\u0947 \u092a\u0948\u0938\u0947 \u0932\u0947\u0924\u093e \u0939\u0948, \u0909\u0938\u0947 \u090f\u0915 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0921\u093e\u0932\u0924\u093e \u0939\u0948, \u0914\u0930 \u0909\u0938 \u092a\u0948\u0938\u0947 \u0915\u094b \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f \u092f\u0947 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u091c\u094d\u092f\u093e\u0926\u093e \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u092c\u0928\u093e \u0915\u0930 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u094b \u092b\u093e\u092f\u0926\u093e \u092a\u0939\u0941\u0902\u091a\u093e\u092f\u093e \u091c\u093e\u090f\u0964</td>\n</tr>\n<tr>\n<td>\u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u092e\u0948\u0928\u0947\u091c\u0930\u094d\u0938, \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0938\u093f\u0938\u094d\u091f\u092e (Portfolio management system- PMS)</td>\n<td>\u0930\u0947\u0932\u093f\u0917\u0947\u092f\u0930 \u0935\u0947\u0932\u094d\u0925 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f, \u092a\u0930\u093e\u0917 \u092a\u093e\u0930\u093f\u0916 PMS</td>\n<td>PMS \u0938\u094d\u0915\u0940\u092e\u094d\u0938 \u092c\u0947\u091a\u0924\u0940 \u0939\u0948\u0902</td>\n<td>\u092f\u0947 \u0939\u0948 \u0924\u094b \u092e\u094d\u092f\u0941\u091a\u0905\u0932 \u092b\u0902\u0921 \u0915\u0940 \u0924\u0930\u0939 \u0932\u0947\u0915\u093f\u0928 \u092f\u0939\u093e\u0901 \u0906\u092a\u0915\u094b \u0915\u092e \u0938\u0947 \u0915\u092e 25 \u0932\u093e\u0916 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092e\u094d\u092f\u0941\u091a\u0941\u0905\u0932 \u092b\u0902\u0921 \u092e\u0947\u0902 \u0910\u0938\u0940 \u0915\u094b\u0908 \u0936\u0930\u094d\u0924 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940\u0964</td>\n</tr>\n<tr>\n<td>\u0938\u094d\u091f\u0949\u0915 \u092c\u094d\u0930\u094b\u0915\u0930\u094d\u0938 \u0914\u0930 \u0938\u092c \u092c\u094d\u0930\u094b\u0915\u0930\u094d\u0938</td>\n<td>Zerodha, \u0936\u0947\u092f\u0930\u0916\u093e\u0928, ICICI \u0921\u093e\u092f\u0930\u0947\u0915\u094d\u091f</td>\n<td>\u0928\u093f\u0935\u0947\u0936\u0915 \u0914\u0930 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0947 \u092c\u0940\u091a \u092e\u0927\u094d\u092f\u0938\u094d\u0925 \u0915\u093e \u0915\u093e\u092e</td>\n<td>\u0906\u092a \u0936\u0947\u092f\u0930 \u0915\u0940 \u0916\u0930\u0940\u0926-\u092c\u093f\u0915\u094d\u0930\u0940 \u0930\u091c\u093f\u0938\u094d\u091f\u0930\u094d\u0921 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u0939\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0938\u092c-\u092c\u094d\u0930\u094b\u0915\u0930, \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u0932\u093f\u090f \u090f\u091c\u0947\u0902\u091f \u0915\u0940 \u0924\u0930\u0939 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948\u0964</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "3. \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0907\u0928\u094d\u091f\u0930\u092e\u0940\u0921\u093f\u092f\u0930\u0940\u091c", "text": ["\u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0906\u092a\u0915\u0947 \u090f\u0915 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0938\u0947 \u0932\u0947 \u0915\u0930 \u0909\u0938 \u0936\u0947\u092f\u0930 \u0915\u0947 \u0906\u092a\u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0906\u0928\u0947 \u0924\u0915 \u0915\u0908 \u0924\u0930\u0939 \u0915\u0940 \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u091f \u090f\u0902\u091f\u093f\u091f\u0940\u091c (Corporate Entities) \u092f\u093e\u0928\u0940 \u0915\u0908 \u0938\u0902\u0938\u094d\u0925\u093e\u090f\u0902 \u092c\u0948\u0915\u090f\u0902\u0921 \u092e\u0947\u0902 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902, \u091c\u093f\u0938\u0938\u0947 \u092f\u0947 \u0915\u093e\u092e \u0938\u0939\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0939\u094b \u091c\u093e\u090f\u0964 \u092a\u0930\u094d\u0926\u0947 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u0940\u0902 \u092f\u0947 \u090f\u0902\u091f\u093f\u091f\u0940\u091c \u0938\u0947\u092c\u0940 \u0915\u0947 \u0915\u093e\u092f\u0926\u0947 \u0915\u093e\u0928\u0942\u0928\u094b\u0902 \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0906\u092a\u0915\u0947 \u0938\u094c\u0926\u0947 \u0915\u094b \u092e\u0941\u092e\u0915\u093f\u0928 \u092c\u0928\u093e\u0924\u0940 \u0939\u0948\u0902 \u091c\u093f\u0938\u0938\u0947 \u0906\u092a\u0915\u094b \u0915\u094b\u0908 \u0926\u093f\u0915\u094d\u0915\u0924 \u0928 \u0939\u094b\u0964 \u0907\u0928 \u090f\u0902\u091f\u093f\u091f\u0940\u091c \u0915\u094b \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0907\u0928\u094d\u091f\u0930\u092e\u0940\u0921\u093f\u092f\u0930\u0940\u091c (Financial Intermediaries) \u0915\u0947 \u0928\u093e\u092e \u0938\u0947 \u091c\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u092f\u0947 \u0907\u0928\u094d\u091f\u0930\u092e\u0940\u0921\u093f\u092f\u0930\u0940\u091c \u090f\u0915 \u0926\u0942\u0938\u0930\u0947 \u0915\u0947 \u0915\u093e\u092e \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u090f\u0915 \u0938\u093e\u0925 \u092e\u093f\u0932 \u0915\u0930 \u0935\u094b \u0907\u0915\u094b\u0938\u093f\u0938\u094d\u091f\u092e \u0924\u0948\u092f\u093e\u0930 \u0915\u0930\u0924\u0940 \u0939\u0948\u0902 \u091c\u093f\u0938\u0915\u0947 \u092c\u093f\u0928\u093e \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u091a\u0932\u0928\u093e \u0905\u0938\u0902\u092d\u0935 \u0939\u0948\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0907\u0928 \u0907\u0928\u094d\u091f\u0930\u092e\u0940\u0921\u093f\u092f\u0930\u0940\u091c \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u0924\u093e\u092f\u093e \u091c\u093e\u090f\u0917\u093e\u0964", "\u092c\u094d\u0930\u094b\u0915\u0930 \u092f\u093e \u0926\u0932\u093e\u0932 \u0936\u093e\u092f\u0926 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0907\u0928\u094d\u091f\u0930\u092e\u0940\u0921\u093f\u092f\u0930\u0940 \u0939\u0948, \u0907\u0938\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0947 \u092c\u0917\u0948\u0930 \u0906\u092a\u0915\u093e \u0915\u093e\u092e \u0928\u0939\u0940\u0902 \u091a\u0932\u0947\u0917\u093e\u0964 \u092f\u0947 \u090f\u0915 \u0915\u0949\u092a\u094b\u0930\u0947\u091f \u090f\u0902\u091f\u093f\u091f\u0940\u00a0 (Corporate Entity) \u0939\u0948 \u091c\u094b \u0936\u0947\u092f\u0930 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092e\u0947\u0902\u092c\u0930 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0930\u091c\u093f\u0938\u094d\u091f\u0930\u094d\u0921 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0928\u0915\u0947 \u092a\u093e\u0938 \u0938\u094d\u091f\u0949\u0915 \u092c\u094d\u0930\u094b\u0915\u093f\u0902\u0917 \u0915\u093e \u0932\u093e\u0907\u0938\u0947\u0902\u0938 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0914\u0930 \u092f\u0947 \u0938\u0947\u092c\u0940 \u0915\u0947 \u0928\u093f\u092f\u092e\u094b\u0902 \u0915\u0947 \u0924\u0939\u0924 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u090f\u0915 \u0924\u0930\u0939 \u0938\u0947 \u0938\u094d\u091f\u0949\u0915 \u092c\u094d\u0930\u094b\u0915\u0930 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0926\u0930\u0935\u093e\u091c\u093e \u0939\u0948\u0964 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0906\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0915\u093f\u0938\u0940 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u092a\u093e\u0938 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0916\u094b\u0932\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0906\u092a \u092c\u094d\u0930\u094b\u0915\u0930 \u0905\u092a\u0928\u0940 \u092e\u0930\u094d\u091c\u0940 \u0938\u0947 \u092f\u093e \u0905\u092a\u0928\u0940 \u092a\u0938\u0902\u0926 \u0915\u093e \u091a\u0941\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0906\u092a\u0915\u093e \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0906\u092a\u0915\u0947 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u092a\u093e\u0938 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0915\u0947 \u091c\u0930\u093f\u090f \u0906\u092a \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926 \u092f\u093e \u092c\u0947\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0924\u094b \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0916\u094b\u0932 \u0932\u093f\u092f\u093e \u0939\u0948 \u0914\u0930 \u0906\u092a \u0915\u094b\u0908 \u0938\u094c\u0926\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0947 \u092c\u094d\u0930\u094b\u0915\u0930 \u0938\u0947 \u0938\u0902\u092a\u0930\u094d\u0915 \u0915\u0930\u0928\u093e \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u0947 \u0915\u094d\u092f\u093e \u0924\u0930\u0940\u0915\u0947 \u0939\u0948\u0902?", "", "\u092c\u094d\u0930\u094b\u0915\u0930 \u0906\u092a\u0915\u094b \u0915\u0941\u091b \u091c\u0930\u0942\u0930\u0940 \u0938\u0941\u0935\u093f\u0927\u093e\u090f\u0902 \u0926\u0947\u0924\u093e \u0939\u0948, \u091c\u0948\u0938\u0947:", "\u091c\u092c \u0906\u092a \u0915\u094b\u0908 \u092a\u094d\u0930\u0949\u092a\u0930\u094d\u091f\u0940 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0909\u0938\u0915\u0947 \u0915\u093e\u0917\u091c \u0938\u0902\u092d\u093e\u0932 \u0915\u0930 \u0930\u0916\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0938\u0947 \u0938\u092e\u092f \u0906\u0928\u0947 \u092a\u0930 \u0906\u092a \u0926\u093f\u0916\u093e \u0938\u0915\u0947\u0902 \u0915\u093f \u0906\u092a\u0928\u0947 \u0915\u092c \u0914\u0930 \u0915\u0939\u093e\u0901 \u0938\u0947 \u0909\u0938\u0947 \u0916\u0930\u0940\u0926\u093e \u0925\u093e\u0964 \u0907\u0938\u0932\u093f\u090f \u0915\u093e\u0917\u091c \u0915\u094b \u0938\u0941\u0930\u0915\u094d\u0937\u093f\u0924 \u091c\u0917\u0939 \u092a\u0930 \u0930\u0916\u0928\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0939 \u091c\u092c \u0906\u092a \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902 (\u091c\u094b \u0915\u093f \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0909\u0938 \u0915\u0902\u092a\u0928\u0940 \u092e\u0947\u0902 \u0906\u092a\u0915\u0940 \u0939\u093f\u0938\u094d\u0938\u0947\u0926\u093e\u0930\u0940 \u0939\u0948) \u0924\u094b \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0940 \u0939\u093f\u0938\u094d\u0938\u0947\u0926\u093e\u0930\u0940 \u0938\u093e\u092c\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0936\u0947\u092f\u0930 \u0938\u0930\u094d\u091f\u093f\u092b\u093f\u0915\u0947\u091f \u0915\u094b \u0938\u0902\u092d\u093e\u0932 \u0915\u0930 \u0930\u0916\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0938\u0940 \u092e\u0947\u0902 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u0930\u0940 \u0932\u093f\u0916\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0915\u093f\u0924\u0928\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u0948\u0964", "1996 \u0924\u0915 \u0936\u0947\u092f\u0930 \u0938\u0930\u094d\u091f\u093f\u092b\u093f\u0915\u0947\u091f \u0915\u093e\u0917\u091c \u0915\u093e \u0939\u094b\u0924\u093e \u0925\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0938\u0947 \u0936\u0947\u092f\u0930 \u0938\u0930\u094d\u091f\u093f\u092b\u093f\u0915\u0947\u091f \u0921\u093f\u091c\u093f\u091f\u0932 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u091c\u093e\u0930\u0940 \u0939\u094b\u0928\u0947 \u0932\u0917\u093e\u0964 \u0915\u093e\u0917\u091c \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u0921\u093f\u091c\u093f\u091f\u0932 \u092e\u0947\u0902 \u092c\u0926\u0932\u0928\u0947 \u0915\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u094b \u0921\u0940\u092e\u0948\u091f\u0947\u0930\u093f\u092f\u0932\u093e\u0907\u091c\u0947\u0936\u0928 (Dematerialization) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 \u091b\u094b\u091f\u0947 \u092e\u0947\u0902 \u0921\u0940\u092e\u0948\u091f (DEMAT) \u0915\u0939\u093e \u091c\u093e\u0928\u0947 \u0932\u0917\u093e\u0964", "1996 \u0915\u0947 \u092c\u093e\u0926 \u0907\u0928 \u0921\u0940\u092e\u0948\u091f \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u0921\u093f\u091c\u093f\u091f\u0932\u0940 \u0930\u0916\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0906 \u092a\u0921\u093c\u0940 \u0914\u0930 \u0924\u092c \u0938\u0947 \u090f\u0915 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u091c\u0930\u0942\u0930\u0940 \u0939\u094b \u0917\u092f\u093e\u0964 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u0915\u0940 \u0938\u0941\u0935\u093f\u0927\u093e \u0926\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u0915\u094b \u092c\u0928\u093e\u092f\u093e \u0917\u092f\u093e\u0964 \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u0906\u092a\u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u0906\u092a\u0915\u0947 \u0938\u092d\u0940 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u0921\u093f\u091c\u093f\u091f\u0932 \u092b\u0949\u0930\u094d\u092e \u092e\u0947\u0902 \u0930\u0916\u0928\u0947 \u0915\u093e \u0915\u093e\u092e \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0947 \u0906\u092a \u0905\u092a\u0928\u0940 \u0921\u093f\u091c\u093f\u091f\u0932 \u0924\u093f\u091c\u094b\u0930\u0940 \u092d\u0940 \u092e\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0906\u092a\u0915\u0947 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u092a\u093e\u0938 \u0916\u094b\u0932\u093e \u0917\u092f\u093e \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0914\u0930 \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u0915\u0947 \u092a\u093e\u0938 \u0916\u0941\u0932\u093e \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u0906\u092a\u0938 \u092e\u0947\u0902 \u091c\u0941\u0921\u093c\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0905\u0917\u0930 \u0906\u092a \u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u092a\u0930 \u0932\u0949\u0917 \u0907\u0928 \u0915\u0930\u0947\u0902\u0917\u0947, \u0905\u092a\u0928\u0940 \u0915\u0940\u092e\u0924 \u0921\u093e\u0932\u0947\u0902\u0917\u0947 \u0914\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947 \u0914\u0930 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926 \u0932\u0947\u0902\u0917\u0947\u0964 \u092f\u0939\u093e\u0901 \u0906 \u0915\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0915\u093e \u0915\u093e\u092e \u0916\u0924\u094d\u092e\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u0936\u0947\u092f\u0930 \u0905\u092a\u0928\u0947 \u0906\u092a \u0906\u092a\u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0906 \u091c\u093e\u090f\u0917\u093e\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0939 \u092c\u0947\u091a\u0924\u0947 \u0938\u092e\u092f \u0906\u092a\u0915\u094b \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0911\u0930\u094d\u0921\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u092a\u0930 \u0921\u093e\u0932\u0928\u093e \u0939\u094b\u0917\u093e \u0914\u0930 \u0936\u0947\u092f\u0930 \u0906\u092a\u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u0905\u092a\u0928\u0947 \u0906\u092a \u0928\u093f\u0915\u0932 \u091c\u093e\u090f\u0902\u0917\u0947\u0964", "\u0905\u092d\u0940 \u0926\u0947\u0936 \u092e\u0947\u0902 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u0915\u0940 \u0938\u0930\u094d\u0935\u093f\u0938 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u093f\u0930\u094d\u092b \u0926\u094b \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u0939\u0948\u0902\u0964 \u090f\u0928 \u090f\u0938 \u0921\u0940 \u090f\u0932 (NSDL) \u092f\u093e\u0928\u0940 \u0928\u0947\u0936\u0928\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 (The National Securities Depository Limited) \u0914\u0930 \u0938\u0940 \u0921\u0940 \u090f\u0938 \u090f\u0932 (CDSL) \u092f\u093e\u0928\u0940 \u0938\u0947\u0928\u094d\u091f\u094d\u0930\u0932 \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u0938\u0930\u094d\u0935\u093f\u0938\u0947\u091c \u0932\u093f\u092e\u093f\u091f\u0947\u0921 (Central Depository Services- India- Limited)\u0964 \u0926\u094b\u0928\u094b\u0902 \u092e\u0947 \u090f\u0915 \u091c\u0948\u0938\u0940 \u0938\u0930\u094d\u0935\u093f\u0938 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0926\u094b\u0928\u094b\u0902 \u0938\u0947\u092c\u0940 \u0915\u0947 \u0928\u093f\u092f\u092e\u094b\u0902 \u0915\u0947 \u0924\u0939\u0924 \u0915\u093e\u092e \u0915\u0930\u0924\u0940 \u0939\u0948\u0902\u0964", "\u091c\u0948\u0938\u0947 \u0906\u092a \u0936\u0947\u092f\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0916\u094b\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u092a\u093e\u0938 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902, NSE \u092f\u093e BSE \u0928\u0939\u0940\u0902, \u0909\u0938\u0940 \u0924\u0930\u0939 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u0916\u094b\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a NSDL \u092f\u093e CDSL \u0915\u0947 \u092a\u093e\u0938 \u0928\u0939\u0940\u0902 \u0915\u093f\u0938\u0940 \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u092a\u093e\u0930\u094d\u091f\u093f\u0938\u093f\u092a\u0947\u0902\u091f (Depository Participant- DP) \u0915\u0947 \u092a\u093e\u0938 \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u092f\u0947 DP \u0906\u092a\u0915\u093e \u090f\u0915\u093e\u0909\u0902\u091f \u0916\u094b\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u0915\u0947 \u090f\u091c\u0947\u0902\u091f \u0915\u0940 \u0924\u0930\u0939 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0938\u0947\u092c\u0940 \u0915\u0947 \u0928\u093f\u092f\u092e\u094b\u0902 \u0915\u0947 \u0905\u0927\u0940\u0928 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092c\u0948\u0902\u0915 \u0915\u0940 \u092d\u0942\u092e\u093f\u0915\u093e \u0915\u093e\u092b\u0940 \u0938\u0940\u0927\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u092f\u0947 \u092c\u0948\u0902\u0915 \u0938\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0914\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u092c\u0948\u0902\u0915 \u0915\u0947 \u092c\u0940\u091a \u092a\u0948\u0938\u094b\u0902 \u0915\u093e \u091f\u094d\u0930\u093e\u0902\u0938\u092b\u0930 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0914\u0930 \u092c\u0948\u0902\u0915 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u090f\u0915 \u0939\u0940 \u0928\u093e\u092e \u0939\u094b\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964", "\u0906\u092a \u0905\u092a\u0928\u0947 \u0915\u0908 \u092c\u0948\u0902\u0915 \u090f\u0915\u093e\u0909\u0902\u091f \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u091c\u094b\u0921\u093c \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u091c\u0947\u0930\u094b\u0927\u093e (Zerodha) \u092a\u0930 \u090f\u0915 \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u092c\u0948\u0902\u0915 \u090f\u0915\u093e\u0909\u0902\u091f \u0914\u0930 \u0924\u0940\u0928 \u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u092c\u0948\u0902\u0915 \u090f\u0915\u093e\u0909\u0902\u091f \u0906\u092a\u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u091c\u094b\u0921\u093c\u0928\u0947 \u0915\u0940 \u0938\u0941\u0935\u093f\u0927\u093e \u0939\u0948\u0964 \u0906\u092a \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092a\u0948\u0938\u0947 \u0907\u0928\u092e\u0947\u0902 \u0938\u0947 \u0915\u093f\u0938\u0940 \u092d\u0940 \u092c\u0948\u0902\u0915 \u090f\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u0921\u093e\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u092c\u0947\u091a\u0924\u0947 \u0938\u092e\u092f \u092a\u0948\u0938\u0947 \u0938\u093f\u0930\u094d\u092b \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u092c\u0948\u0902\u0915 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0939\u0940 \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u0906\u092a\u0915\u093e \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u092c\u0948\u0902\u0915 \u090f\u0915\u093e\u0909\u0902\u091f \u0906\u092a\u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f, \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u0914\u0930 \u0930\u091c\u093f\u0938\u094d\u091f\u094d\u0930\u093e\u0930 \u090f\u0902\u0921 \u091f\u094d\u0930\u093e\u0902\u0938\u092b\u0930 \u090f\u091c\u0947\u0902\u091f (Registrar and transfer agents- RTA) \u0938\u0947 \u092d\u0940 \u091c\u0941\u0921\u093c\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0924\u094b \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917, \u092c\u0948\u0902\u0915 \u0914\u0930 \u0921\u093f\u092a\u0949\u091c\u093f\u091f\u0930\u0940 \u090f\u0915\u093e\u0909\u0902\u091f \u0906\u092a\u0938 \u092e\u0947\u0902 \u0907\u0932\u0947\u0915\u094d\u091f\u094d\u0930\u093e\u0928\u093f\u0915 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0938\u0938\u0947 \u0906\u092a \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u0938\u094c\u0926\u0947 \u0915\u0930 \u0938\u0915\u0947\u0902\u0964", "\u0928\u0947\u0936\u0928\u0932 \u0938\u0947\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u094d\u0932\u093f\u092f\u0930\u093f\u0902\u0917 \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u0936\u0928 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 (National Security Clearing Corporation Limited- NSCCL) \u0928\u0947\u0936\u0928\u0932 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c (NSE)\u0915\u0940 \u0914\u0930 \u0907\u0902\u0921\u093f\u092f\u0928 \u0915\u094d\u0932\u093f\u092f\u0930\u093f\u0902\u0917 \u0915\u093e\u0930\u092a\u094b\u0930\u0947\u0936\u0928 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 BSE \u092f\u093e\u0928\u0940 \u092c\u093e\u092e\u094d\u092c\u0947 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0940 \u0938\u092c\u094d\u0938\u093f\u0921\u093f\u092f\u0930\u0940 \u0939\u0948\u0902\u0964 \u0907\u0928\u0915\u093e \u0915\u093e\u092e \u0939\u0948 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092a\u0930 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u0939\u0930 \u0938\u094c\u0926\u0947 \u0915\u093e \u0938\u0947\u091f\u0947\u0932\u092e\u0947\u0902\u091f \u0915\u0930\u0928\u093e\u0964 \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u092c\u0949\u092f\u094b\u0915\u0949\u0928 \u0915\u093e \u090f\u0915 \u0936\u0947\u092f\u0930 446 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u0916\u0930\u0940\u0926\u093e \u0939\u0948 \u0924\u094b \u0915\u093f\u0938\u0940 \u0928\u0947 \u0906\u092a\u0915\u094b \u092f\u0947 \u0936\u0947\u092f\u0930 446 \u0930\u0942\u092a\u090f \u092e\u0947\u0902 \u092c\u0947\u091a\u093e \u0939\u094b\u0917\u093e\u0964 \u0915\u094d\u0932\u093f\u092f\u0930\u093f\u0902\u0917 \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u0936\u0928 \u0915\u093e \u0915\u093e\u092e \u092f\u0947 \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0928\u093e \u0939\u0948 \u0915\u093f \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u0928\u093f\u0915\u0932 \u0915\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u090f\u0964 \u0914\u0930 \u092a\u0948\u0938\u0947 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u0947 \u092c\u0948\u0902\u0915 \u0938\u0947 \u0928\u093f\u0915\u0932 \u0915\u0930 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u0947 \u092c\u0948\u0902\u0915 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902\u0964 \u0924\u094b \u0915\u0941\u0932 \u092e\u093f\u0932\u093e\u0915\u0930 \u0915\u094d\u0932\u093f\u092f\u0930\u093f\u0902\u0917 \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u0936\u0928 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u092f\u0947 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948:", "\u0935\u0948\u0938\u0947 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947 \u0932\u093f\u090f \u0915\u094d\u0932\u093f\u092f\u0930\u093f\u0902\u0917 \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u0936\u0928 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0909\u0938\u0947 \u0915\u092d\u0940 \u0938\u0940\u0927\u0947 \u0907\u0928\u0938\u0947 \u0915\u093e\u092e \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0928\u0947 \u0935\u093e\u0932\u093e\u0964 \u0909\u0938\u0947 \u0938\u093f\u0930\u094d\u092b \u0907\u0924\u0928\u093e \u092a\u0924\u093e \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u090f\u0915 \u092a\u094d\u0930\u094b\u092b\u0947\u0936\u0928\u0932 \u0938\u0902\u0938\u094d\u0925\u093e \u092a\u0942\u0930\u0947 \u0928\u093f\u092f\u092e \u0915\u093e\u0928\u0942\u0928\u094b\u0902 \u0915\u0947 \u0938\u093e\u0925 \u092f\u0947 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u0940 \u0939\u0948\u0964", "Very nice knowledge", "Happy learning!", "Best website for stock market knowledge\nThank u so much\nPlz provide all module in hindi", "Thanks, Bhavesh. We are working on it.", "Nice information and knowledge good for new who in start investing in stocks also in Hindi is best part \u2026 hope you take Hindi version in application very soon", "We are working on in, Bhavesh. Thanks.", "very informative.", "Nice Knowledge for begginers who new in stock market & Hindi version is help to us for clear understanding.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/07/Ch3-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/07/broker.png", "https://zerodha.com/varsity/wp-content/uploads/2014/07/broker.png", "https://zerodha.com/varsity/wp-content/uploads/2014/07/broker.png", "https://zerodha.com/varsity/wp-content/uploads/2014/07/broker.png", "https://secure.gravatar.com/avatar/09bb7da3b2368006c468fd57d925eb1e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3580a655a96d2c872d5f2ec1555115c6?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4cca6c0b6bc642d56f20ee0731e1785d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/cb51966866539f6a86a2a68c99190a3c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9d798bc9ca5a1aa4e1f18385108843b2?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "6. \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930", "text": ["IPO \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0914\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u0914\u0930 \u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0940 \u0935\u093e\u0938\u094d\u0924\u093f\u0935\u0915\u0924\u093e \u0915\u094b \u091c\u093e\u0928\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926, \u0906\u0907\u090f \u0905\u092c \u0938\u094d\u091f\u0949\u0915 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u0905\u0917\u0932\u0947 \u092a\u0921\u093c\u093e\u0935 \u092a\u0930 \u091a\u0932\u0924\u0947 \u0939\u0948\u0902\u0964", "\u090f\u0915 \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915 \u0915\u0902\u092a\u0928\u0940 \u0939\u094b\u0928\u0947 \u0915\u0947 \u0928\u093e\u0924\u0947 \u0905\u092c \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0935\u094b \u0938\u092d\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u091c\u094b \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0938\u0947 \u0938\u0902\u092c\u0927\u093f\u0924 \u0939\u0948, \u0932\u094b\u0917\u094b\u0902 \u0915\u094b \u092c\u0924\u093e\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u092a\u092c\u094d\u0932\u093f\u0915 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092a\u0930 \u0939\u0930 \u0930\u094b\u091c\u093c \u0916\u0930\u0940\u0926-\u092c\u093f\u0915\u094d\u0930\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092d\u093e\u0917 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u0947 \u092f\u093e \u092d\u093e\u0917\u0940\u0926\u093e\u0930 \u0915\u094d\u092f\u094b\u0902 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0916\u0930\u0940\u0926-\u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0907\u0938\u0915\u0940 \u0935\u091c\u0939\u094b\u0902 \u0915\u094b \u0939\u092e \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u092e\u0947\u0902 \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e\u0928\u0947 \u0905\u0927\u094d\u092f\u093e\u092f 2 \u092e\u0947\u0902 \u092a\u0922\u093c\u093e \u0925\u093e \u0915\u093f \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u090f\u0915 \u0907\u0932\u0947\u0915\u094d\u091f\u094d\u0930\u0949\u0928\u093f\u0915 \u092c\u093e\u091c\u093c\u093e\u0930 \u0939\u0948, \u091c\u0939\u093e\u0901 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0914\u0930 \u0916\u0930\u0940\u0926\u093e\u0930 \u092e\u093f\u0932 \u0915\u0930 \u0938\u094c\u0926\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930, \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0940 \u0905\u092d\u0940 \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u0940 \u0915\u094b \u0932\u0940\u091c\u093f\u090f\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u094b \u0932\u093f\u0916\u0924\u0947 \u0935\u0915\u094d\u0924 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u092e\u0947\u0902 \u0905\u0917\u0932\u093e \u0909\u0924\u094d\u0924\u0930\u093e\u0927\u093f\u0915\u093e\u0930\u0940 \u0915\u094c\u0928 \u0939\u094b\u0917\u093e, \u092f\u0947 \u092c\u0939\u0941\u0924 \u092c\u0921\u093c\u093e \u092e\u0938\u0932\u093e \u092c\u0928\u093e \u0939\u0941\u0906 \u0939\u0948 \u0914\u0930 \u0915\u0908 \u0938\u0940\u0928\u093f\u092f\u0930 \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u093f\u092f\u094b\u0902 \u0928\u0947 \u0939\u093e\u0932 \u092b\u093f\u0932\u0939\u093e\u0932 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0938\u0947 \u0907\u0938\u094d\u0924\u0940\u092b\u093e \u092d\u0940 \u0926\u093f\u092f\u093e \u0939\u0948\u0964 \u0907\u0938 \u0935\u091c\u0939 \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0907\u091c\u094d\u091c\u0924/\u092a\u094d\u0930\u0924\u093f\u0937\u094d\u0920\u093e/\u092e\u093e\u0928 \u092a\u0930 \u0905\u0938\u0930 \u092a\u0921\u093c \u0930\u0939\u093e \u0939\u0948\u0964 \u0914\u0930 \u0907\u0938 \u0935\u091c\u0939 \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0936\u0947\u092f\u0930 3,500 \u0938\u0947 \u0917\u093f\u0930 \u0915\u0930 3,000 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u0906 \u0917\u092f\u093e\u0964\u00a0 \u091c\u092c \u092d\u0940 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u0915\u0940 \u0915\u094b\u0908 \u0916\u092c\u0930 \u0906\u0924\u0940 \u0939\u0948, \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092f\u093e\u0928\u0940 \u0936\u0947\u092f\u0930 \u092a\u094d\u0930\u093e\u0907\u0938/\u0938\u094d\u091f\u0949\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 \u092a\u0930 \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u0940 \u0926\u094b \u091f\u094d\u0930\u0947\u0921\u0930\u094d\u0938 \u0939\u0948 \u2013 T1 \u0914\u0930 T2", "\u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u092a\u0930 T1 \u0915\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e- \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0936\u0947\u092f\u0930 \u0914\u0930 \u0928\u0940\u091a\u0947 \u091c\u093e\u090f\u0917\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0928\u092f\u093e CEO \u091a\u0941\u0928\u0928\u0947 \u092e\u0947\u0902 \u0915\u093e\u092b\u0940 \u0926\u093f\u0915\u094d\u0915\u0924\u0947\u0902 \u092f\u093e \u091a\u0941\u0928\u094c\u0924\u093f\u092f\u093e\u0901 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0905\u0917\u0930 T1 \u0907\u0938 \u0928\u091c\u093c\u0930\u093f\u090f \u0915\u0947 \u0938\u093e\u0925 \u0938\u094c\u0926\u093e \u0915\u0930\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0947 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u093e \u092c\u093f\u0915\u0935\u093e\u0932 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u092f\u093e \u0909\u0938\u0947 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0932\u0947\u0915\u093f\u0928 T2\u00a0 \u0907\u0938\u0940 \u0939\u093e\u0932\u093e\u0924 \u0915\u094b \u0905\u0932\u0917 \u0924\u0930\u0939 \u0938\u0947 \u0926\u0947\u0916 \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u093e \u0928\u091c\u0930\u093f\u092f\u093e \u0905\u0932\u0917 \u0939\u0948\u0964 \u0909\u0938\u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 \u0938\u094d\u091f\u0949\u0915 \u0928\u0947 \u0909\u0924\u094d\u0924\u0930\u093e\u0927\u093f\u0915\u093e\u0930\u0940 \u092e\u0938\u0932\u0947 \u092a\u0939\u0932\u0947 \u0939\u0940 \u0915\u093e\u092b\u0940 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0926\u093f\u0916\u093e \u0926\u0940 \u0939\u0948, \u0905\u092c \u091c\u0932\u094d\u0926\u0940 \u0939\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0928\u092f\u093e \u0932\u0940\u0921\u0930 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u093e \u0914\u0930 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0909\u0938\u0915\u0947 \u0906\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0938\u094d\u091f\u0949\u0915 \u090a\u092a\u0930 \u091c\u093e\u090f\u0917\u093e\u0964", "\u0905\u0917\u0930 T2 \u0907\u0938 \u0928\u091c\u0930\u093f\u090f \u0915\u0947 \u0938\u093e\u0925 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0909\u0924\u0930\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0947 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0938\u094d\u091f\u0949\u0915 \u0915\u093e \u0916\u0930\u0940\u0926\u093e\u0930 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0924\u094b 3,000 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 T1 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u092f\u093e \u092c\u093f\u0915\u0935\u093e\u0932 \u0939\u094b\u0917\u093e \u0914\u0930 T2 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u0916\u0930\u0940\u0926\u093e\u0930\u0964", "\u0905\u092c \u0926\u094b\u0928\u094b\u0902, T1 \u0914\u0930 T2,\u00a0 \u0905\u092a\u0928\u0947-\u0905\u092a\u0928\u0947 \u0938\u094d\u091f\u0949\u0915 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u0916\u0930\u0940\u0926-\u092c\u094d\u0930\u093f\u0915\u0940 \u0915\u0947 \u0932\u093f\u090f \u0928\u093f\u0930\u094d\u0926\u0947\u0936 \u0926\u0947\u0902\u0917\u0947 \u0914\u0930 \u092c\u094d\u0930\u094b\u0915\u0930 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u0907\u0928 \u0938\u094c\u0926\u094b\u0902 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0947\u0917\u093e\u0964", "\u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0907\u0938 \u092c\u093e\u0924 \u0915\u094b \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0947\u0917\u093e \u0915\u093f \u0926\u094b\u0928\u094b\u0902 \u0911\u0930\u094d\u0921\u0930 \u092e\u093f\u0932\u0947\u0902 \u0914\u0930 \u0938\u094c\u0926\u093e \u092a\u0942\u0930\u093e \u0939\u094b\u0964 \u092f\u0939\u0940 \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092f\u093e \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u093e \u092e\u0941\u0916\u094d\u092f \u0905\u0925\u0935\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0915\u093e\u092e \u0939\u0948- \u090f\u0915 \u0910\u0938\u093e \u092a\u094d\u0932\u0947\u091f\u092b\u0949\u0930\u094d\u092e \u0926\u0947\u0928\u093e \u092f\u093e \u092c\u0928\u093e\u0928\u093e \u091c\u0939\u093e\u0901 \u0916\u0930\u0940\u0926\u093e\u0930 \u0914\u0930 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u0938\u094c\u0926\u093e \u0915\u0930 \u0938\u0915\u0947\u0902\u0964", "\u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u094b \u091c\u0917\u0939 \u091c\u0939\u093e\u0901 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u092d\u093e\u0917\u0940\u0926\u093e\u0930 \u0932\u093f\u0938\u094d\u091f\u0947\u0921 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u092e\u0947\u0902 \u0905\u092a\u0928\u0947-\u0905\u092a\u0928\u0947 \u0928\u091c\u093c\u0930\u093f\u090f \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0938\u094c\u0926\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0914\u0930 \u0938\u094c\u0926\u093e \u0924\u092d\u0940 \u0939\u094b\u0917\u093e \u091c\u092c \u092d\u093e\u0917\u0940\u0926\u093e\u0930\u094b\u0902 \u0915\u0947 \u0928\u091c\u093c\u0930\u093f\u090f \u0905\u0932\u0917 \u0905\u0932\u0917 \u0939\u094b\u0902\u0917\u0947\u0964 \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092f\u093e \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923 \u0905\u0932\u0917 \u0939\u094b\u0928\u0947 \u0938\u0947 \u0939\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926 \u0914\u0930 \u092c\u093f\u0915\u094d\u0930\u0940 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "", "\u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0939\u0940 \u0936\u0947\u092f\u0930 \u0915\u0940 \u091a\u093e\u0932 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926-\u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u092f\u093e\u0928\u0940 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u092d\u093e\u0917\u0940\u0926\u093e\u0930 \u0939\u0948 \u0914\u0930 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0902\u092a\u0928\u0940 \u092a\u0930 \u092c\u093e\u0930\u0940\u0915\u0940 \u0938\u0947 \u0928\u091c\u093c\u0930 \u092c\u0928\u093e\u090f \u0939\u0941\u090f \u0939\u0948\u0902\u0964", "11 \u091c\u0942\u0928 2014 \u0915\u093e \u0926\u093f\u0928 \u0939\u0948, \u0938\u0941\u092c\u0939 \u0915\u0947 10 \u092c\u091c\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u092d\u093e\u0935 \u0939\u0948 3000 \u0930\u0941\u092a\u092f\u0947\u0964 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u092e\u0940\u0921\u093f\u092f\u093e \u092e\u0947\u0902 \u092f\u0947 \u0916\u092c\u0930 \u0926\u0947\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0928\u092f\u093e CEO \u092e\u093f\u0932 \u0917\u092f\u093e \u0939\u0948, \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0928\u0908 \u090a\u0902\u091a\u093e\u0908 \u092a\u0930 \u0932\u0947 \u091c\u093e\u090f\u0917\u093e\u0964 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0909\u0938 \u0928\u090f CEO \u0915\u0940 \u0915\u093e\u092c\u093f\u0932\u093f\u092f\u0924 \u092a\u0930 \u092a\u0942\u0930\u093e \u092d\u0930\u094b\u0938\u093e \u0939\u0948\u0964", "\u0926\u094b \u0938\u0935\u093e\u0932 \u092f\u0939\u093e\u0901 \u092a\u0930 \u0906\u0924\u0947 \u0939\u0948\u0902-", "\u092a\u0939\u0932\u0947 \u0938\u0935\u093e\u0932 \u0915\u093e \u091c\u0935\u093e\u092c \u092c\u0939\u0941\u0924 \u0906\u0938\u093e\u0928 \u0939\u0948\u0964 \u0907\u0938 \u0916\u092c\u0930 \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0947 \u092d\u093e\u0935 \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0939\u094b\u0917\u0940\u0964", "\u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0928\u0947\u0924\u0943\u0924\u094d\u0935 \u0915\u094b \u0932\u0947\u0915\u0930 \u0926\u093f\u0915\u094d\u0915\u0924 \u091a\u0932 \u0930\u0939\u0940 \u0925\u0940, \u0914\u0930 \u0905\u092c \u0935\u094b \u0926\u093f\u0915\u094d\u0915\u0924 \u0926\u0942\u0930 \u0939\u094b \u0917\u0908 \u0939\u0948\u0964 \u091c\u092c \u0910\u0938\u0940 \u0938\u0915\u093e\u0930\u093e\u0924\u094d\u092e\u0915 \u0918\u094b\u0937\u0923\u093e \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0924\u094b \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u092d\u093e\u0917\u0940\u0926\u093e\u0930 \u0938\u094d\u091f\u0949\u0915 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0924\u0947\u091c \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u091c\u093f\u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0930\u0948\u0932\u0940 (Rally) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902, \u0926\u0947\u0916\u0928\u0947 \u0915\u094b \u092e\u093f\u0932\u0924\u0940 \u0939\u0948\u0964", "\u0907\u0938\u0915\u094b \u0925\u094b\u0921\u093c\u093e \u0914\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902..", "\u0927\u094d\u092f\u093e\u0928 \u0926\u0940\u091c\u093f\u090f \u0915\u093f \u092c\u0947\u091a\u0928\u0947\u0935\u093e\u0932\u093e \u091c\u094b \u092d\u0940 \u0915\u0940\u092e\u0924 \u092e\u093e\u0902\u0917 \u0930\u0939\u093e \u0939\u0948, \u0916\u0930\u0940\u0926\u093e\u0930 \u0926\u0947\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0964 \u092f\u0947 \u091c\u094b \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0939\u094b\u0924\u0940 \u0939\u0948, \u092c\u0947\u091a\u0928\u0947 \u0914\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u0947 \u092c\u0940\u091a, \u0907\u0938\u0938\u0947 \u0939\u0940 \u0936\u0947\u092f\u0930 \u0915\u0947 \u092d\u093e\u0935 \u090a\u092a\u0930 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0936\u0947\u092f\u0930 \u0915\u093e \u092d\u093e\u0935 5 \u092e\u093f\u0928\u091f \u092e\u0947\u0902 16 \u0930\u0941\u092a\u092f\u0947 \u092c\u0922\u093c \u0917\u092f\u093e\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u092f\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u090f\u0915 \u0915\u093e\u0932\u094d\u092a\u0928\u093f\u0915 \u092a\u0930\u093f\u0938\u094d\u0925\u093f\u0924\u0940 \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0910\u0938\u093e \u0935\u093e\u0915\u0908 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0915\u093f\u0938\u0940 \u0905\u091a\u094d\u091b\u0940 \u0916\u092c\u0930 \u0915\u0947 \u0906\u0928\u0947 \u092f\u093e \u0906\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u092a\u0930 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u090a\u092a\u0930 \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0915\u0947 \u092d\u093e\u0935 \u090a\u092a\u0930 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0926\u094b \u0935\u091c\u0939\u0947\u0902 \u0939\u0948\u0902\u0964 \u090f\u0915 \u0924\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0928\u0947\u0924\u0943\u0924\u094d\u0935 \u0915\u093e \u092e\u0938\u0932\u093e \u0939\u0932 \u0939\u094b \u0917\u092f\u093e\u0964 \u0926\u0942\u0938\u0930\u093e, \u091c\u094b \u0928\u092f\u093e CEO \u0906\u092f\u093e \u0939\u0948 \u0935\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0928\u0908 \u090a\u0902\u091a\u093e\u0908 \u0924\u0915 \u0932\u0947 \u0915\u0930 \u091c\u093e\u090f\u0917\u093e\u0964", "\u0905\u092c \u0926\u0942\u0938\u0930\u0947 \u0938\u0935\u093e\u0932 \u0915\u093e \u091c\u0935\u093e\u092c \u092c\u0939\u0941\u0924 \u0906\u0938\u093e\u0928 \u0939\u094b \u0917\u092f\u093e \u0939\u0948, \u0906\u092a \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u0938\u094d\u091f\u0949\u0915 \u0916\u0930\u0940\u0926\u0947\u0902\u0917\u0947 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u091a\u094d\u091b\u0940 \u0916\u092c\u0930 \u0906\u0908 \u0939\u0948\u0964", "\u0905\u092c \u0909\u0938\u0940 \u0926\u093f\u0928 \u092e\u0947\u0902 \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902\u0964 12:30 PM \u092a\u0930 \u2018\u0926 \u0928\u0947\u0936\u0928\u0932 \u090f\u0938\u094b\u0938\u093f\u090f\u0936\u0928 \u0911\u092b \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930 \u090f\u0902\u0921 \u0938\u0930\u094d\u0935\u093f\u0938\u0947\u091c \u0915\u0902\u092a\u0928\u0940\u2019 \u092f\u093e\u0928\u0940 \u0928\u0948\u0938\u0915\u0949\u092e (NASSCOM) \u0928\u0947 \u090f\u0915 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092f\u093e\u0928\u0940 \u0905\u0927\u093f\u0938\u0942\u091a\u0928\u093e \u091c\u093e\u0930\u0940 \u0915\u093f\u092f\u093e\u0964 \u0928\u0948\u0938\u0915\u0949\u092e \u092d\u093e\u0930\u0924 \u0915\u0947 \u0938\u0942\u091a\u0928\u093e \u092a\u094d\u0930\u094c\u0926\u094d\u092f\u094b\u0917\u093f\u0915\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u092f\u093e\u0928\u0940 IT \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u093e \u0935\u094d\u092f\u093e\u092a\u093e\u0930\u093f\u0915 \u0938\u0902\u0918 \u0939\u0948 \u0914\u0930 \u0907\u0938\u0915\u0940 \u0915\u0939\u0940 \u0939\u0941\u0908 \u092c\u093e\u0924\u0947\u0902 IT \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f \u092c\u0939\u0941\u0924 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u093e\u092f\u0928\u0947 \u0930\u0916\u0924\u0940 \u0939\u0948\u0902\u0964", "\u0924\u094b \u0928\u0948\u0938\u0915\u0949\u092e \u0928\u0947 \u0905\u0927\u093f\u0938\u0942\u091a\u0928\u093e \u092e\u0947\u0902 \u0915\u0939\u093e \u0915\u093f \u0910\u0938\u0947 \u0938\u0902\u0915\u0947\u0924 \u092e\u093f\u0932 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f \u0917\u094d\u0930\u093e\u0939\u0915\u094b\u0902 \u0915\u0947 IT \u092c\u091c\u091f \u092e\u0947\u0902 15 \u092a\u0930\u0938\u0947\u0902\u091f \u0915\u0940 \u0917\u093f\u0930\u093e\u0935\u091f \u0939\u0941\u0908 \u0939\u0948, \u0914\u0930 \u0907\u0938\u0915\u093e \u0905\u0938\u0930 IT \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u092a\u0930 \u0906\u0917\u0947 \u0926\u0947\u0916\u0928\u0947 \u0915\u094b \u092e\u093f\u0932 \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "12:30 PM \u092a\u0930 \u092e\u093e\u0928 \u0932\u0947\u0902 \u0915\u093f \u0907\u0902\u092b\u094b\u0938\u093f\u0938 3030 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0930\u0939\u093e \u0939\u0948\u0964 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u091b \u0938\u0935\u093e\u0932\u2026", "\u0907\u0928 \u0938\u092c \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u0947 \u091c\u0935\u093e\u092c \u092c\u0939\u0941\u0924 \u0906\u0938\u093e\u0928 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u091c\u0935\u093e\u092c \u0926\u0947\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0939\u092e \u091c\u093c\u0930\u093e \u0928\u0948\u0938\u0915\u0949\u092e \u0915\u0940 \u0905\u0927\u093f\u0938\u0942\u091a\u0928\u093e \u0915\u094b \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0928\u0948\u0938\u0915\u0949\u092e \u0928\u0947 \u0915\u0939\u093e \u0915\u093f \u0917\u094d\u0930\u093e\u0939\u0915\u094b\u0902 \u0915\u0947 IT \u092c\u091c\u091f \u092e\u0947\u0902 15 \u092a\u0930\u0938\u0947\u0902\u091f \u0915\u0940 \u0917\u093f\u0930\u093e\u0935\u091f \u0939\u094b\u0928\u0947 \u0915\u0947 \u0906\u0938\u093e\u0930 \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0915\u093f IT \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0906\u092f \u0914\u0930 \u092e\u0941\u0928\u093e\u092b\u0947 \u092e\u0947\u0902 \u0915\u092e\u0940 \u0939\u094b\u0917\u0940\u0964 \u0924\u094b \u092f\u0947 IT \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u0940 \u0916\u092c\u0930 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u0905\u092c \u0939\u092e \u090a\u092a\u0930 \u0915\u0947 3 \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u0947 \u091c\u0935\u093e\u092c \u0926\u0947\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u2026", "\u0924\u094b \u091c\u0948\u0938\u093e \u0906\u092a\u0928\u0947 \u0926\u0947\u0916\u093e \u0915\u093f \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u092d\u093e\u0917\u0940\u0926\u093e\u0930 \u0916\u092c\u0930\u094b\u0902 \u0914\u0930 \u0918\u091f\u0928\u093e\u0913\u0902 \u092a\u0930 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0938 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0938\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0947 \u092d\u093e\u0935 \u092e\u0947\u0902 \u0909\u0920\u093e-\u092a\u091f\u0915 \u0939\u094b\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0964", "\u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0907\u0938 \u0935\u0915\u094d\u0924 \u0906\u092a\u0915\u0947 \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0935\u093e\u091c\u093f\u092c \u0938\u0935\u093e\u0932 \u0906\u090f\u0964 \u0906\u092a \u0938\u094b\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u0917\u0930 \u0906\u091c \u0915\u093f\u0938\u0940 \u090f\u0915 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0915\u094b\u0908 \u0916\u092c\u0930 \u0928\u093e \u0906\u090f \u0924\u094b \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u093e? \u0915\u094d\u092f\u093e \u0909\u0938 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0947 \u092d\u093e\u0935 \u092e\u0947\u0902 \u0915\u094b\u0908 \u092c\u0926\u0932\u093e\u0935 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e?", "\u0907\u0938 \u0938\u0935\u093e\u0932 \u0915\u093e \u091c\u0935\u093e\u092c \u0939\u093e\u0901 \u092e\u0947\u0902 \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0928\u093e \u092e\u0947\u0902 \u092d\u0940 \u0914\u0930 \u092f\u0947 \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0909\u0938 \u090f\u0915 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u090a\u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0924\u093e \u0939\u0948, \u091c\u093f\u0938\u0915\u0940 \u092c\u093e\u0924 \u0939\u094b \u0930\u0939\u0940 \u0939\u0948\u0964", "\u0909\u0926\u093e\u0939\u0923 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0928 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0926\u094b \u0905\u0932\u0917-\u0905\u0932\u0917 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u090f\u0915 \u092d\u0940 \u0916\u092c\u0930 \u0928\u0939\u0940\u0902 \u0906\u0908\u2026", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u0938\u092c \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0930\u093f\u0932\u093e\u092f\u0902\u0938 \u0926\u0947\u0936 \u0915\u0940 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0939\u0948 \u0914\u0930 \u0907\u0938 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0916\u092c\u0930 \u0906\u090f \u092f\u093e \u0928\u093e \u0906\u090f, \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u092d\u093e\u0917\u0940\u0926\u093e\u0930 \u0907\u0938\u0915\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0924\u0947 \u0914\u0930 \u092c\u0947\u091a\u0924\u0947 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902, \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0932\u0917\u093e\u0924\u093e\u0930 \u092c\u0926\u0932\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0964", "\u091c\u094b \u0926\u0942\u0938\u0930\u0940 \u0915\u0902\u092a\u0928\u0940 \u0939\u0948, \u0909\u0938\u0947 \u092c\u0939\u0941\u0924 \u0932\u094b\u0917 \u0928\u0939\u0940\u0902 \u091c\u093e\u0928\u0924\u0947, \u0924\u094b \u0905\u0917\u0930 \u0909\u0938 \u0915\u0902\u092a\u0928\u0940 \u092a\u0930 \u0915\u094b\u0908 \u0916\u092c\u0930 \u0928 \u0906\u090f \u0924\u094b \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0936\u093e\u092f\u0926 \u0928 \u092c\u0926\u0932\u0947 \u0914\u0930 \u0905\u0917\u0930 \u092c\u0926\u0932\u093e\u0935 \u0939\u094b\u0917\u093e \u092d\u0940 \u0924\u094b \u092c\u0939\u0941\u0924 \u0939\u0940 \u0915\u092e\u0964", "\u0938\u0902\u0915\u094d\u0937\u0947\u092a \u092e\u0947\u0902 \u092f\u0947 \u0915\u0939 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0916\u092c\u0930\u094b\u0902 \u0914\u0930 \u0918\u091f\u0928\u093e\u0913\u0902 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0915\u0940\u092e\u0924\u094b\u0902 \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092f\u0947 \u0916\u092c\u0930 \u0914\u0930 \u0918\u091f\u0928\u093e\u090f\u0902 \u092f\u093e \u0924\u094b \u0938\u0940\u0927\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0915\u0902\u092a\u0928\u0940 \u092f\u093e \u0907\u0902\u0921\u094d\u0938\u094d\u091f\u094d\u0930\u0940 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0902 \u092f\u093e \u092b\u093f\u0930 \u092a\u0942\u0930\u0940 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0939\u0941\u0908\u0964 \u091c\u0948\u0938\u0947 \u0928\u0930\u0947\u0902\u0926\u094d\u0930 \u092e\u094b\u0926\u0940 \u0915\u093e \u092a\u094d\u0930\u0927\u093e\u0928\u092e\u0902\u0924\u094d\u0930\u0940 \u092c\u0928\u0928\u0947 \u0915\u094b \u0938\u0915\u093e\u0930\u093e\u0924\u094d\u092e\u0915 \u092f\u093e \u0905\u091a\u094d\u091b\u0940 \u0916\u092c\u0930 \u0915\u0940 \u0924\u0930\u0939 \u0926\u0947\u0916\u093e \u0917\u092f\u093e \u0914\u0930 \u0928\u0924\u0940\u091c\u0947 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092a\u0942\u0930\u0947 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0924\u0947\u091c\u0940 \u0926\u0947\u0916\u0940 \u0917\u0908\u0964", "\u0915\u0941\u091b \u092e\u093e\u092e\u0932\u094b\u0902 \u092e\u0947\u0902 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u094b\u0908 \u0916\u092c\u0930 \u0928\u093e \u0939\u094b \u092b\u093f\u0930 \u092d\u0940 \u0915\u0940\u092e\u0924\u094b\u0902 \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u0926\u0947\u0916\u0928\u0947 \u0915\u094b \u092e\u093f\u0932\u0947\u0964 \u0910\u0938\u093e \u0921\u093f\u092e\u093e\u0902\u0921-\u0938\u092a\u094d\u0932\u093e\u0908 \u092f\u093e\u0928\u0940 \u092e\u093e\u0902\u0917 \u0914\u0930 \u0906\u092a\u0942\u0930\u094d\u0924\u093f \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0906\u092a\u0928\u0947 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 200 \u0936\u0947\u092f\u0930 3030 \u0915\u0947 \u092d\u093e\u0935 \u0916\u0930\u0940\u0926\u0928\u0947 \u0914\u0930 \u0907\u0938 \u0936\u0947\u092f\u0930 \u0915\u094b 1 \u0938\u093e\u0932 \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u093f\u092f\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u092f\u0947 \u0939\u094b\u0924\u093e \u0915\u0948\u0938\u0947 \u0939\u0948? \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u092a\u0942\u0930\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u0948\u0938\u0947 \u091a\u0932\u0924\u0940 \u0939\u0948? \u090f\u0915 \u092c\u093e\u0930 \u0906\u092a \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0915\u094d\u092f\u093e \u0939\u094b\u0924\u093e \u0939\u0948?", "\u0938\u094c\u092d\u093e\u0917\u094d\u092f\u0935\u0936 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u092c\u0921\u093c\u0940 \u0905\u091a\u094d\u091b\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0939\u0948 \u091c\u094b \u092a\u0942\u0930\u093e \u0915\u093e\u092e \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u0915\u0930 \u0926\u0947\u0924\u0940 \u0939\u0948\u0964", "\u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0932\u0949\u0917-\u0907\u0928 \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e (\u0906\u092a\u0915\u094b \u092f\u0947 \u0938\u0941\u0935\u093f\u0927\u093e \u0906\u092a\u0915\u093e \u092c\u094d\u0930\u094b\u0915\u0930 \u0926\u0947\u0924\u093e \u0939\u0948)\u0964 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u0926\u0947\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0906\u092a\u0915\u094b \u0911\u0930\u094d\u0921\u0930 \u091f\u093f\u0915\u091f \u092e\u093f\u0932\u0947\u0917\u093e, \u091c\u093f\u0938\u092e\u0947\u0902 \u092f\u0947 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u0939\u094b\u0902\u0917\u0940:", "\u0906\u092a\u0915\u093e \u092c\u094d\u0930\u094b\u0915\u0930 \u092f\u0939 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0947 \u092a\u093e\u0938 \u0906\u0917\u0947 \u092c\u0922\u093c\u093e\u090f, \u0907\u0938\u0915\u0947 \u092a\u0939\u0932\u0947 \u0935\u0939 \u092f\u0939 \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u0947\u0917\u093e \u0915\u093f \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u0907\u0928 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092a\u0930\u094d\u092f\u093e\u092a\u094d\u0924 \u092a\u0948\u0938\u0947 \u0939\u0948\u0902\u0964 \u091c\u092c \u0935\u0939 \u0938\u0902\u0924\u0941\u0937\u094d\u091f \u0939\u094b \u091c\u093e\u092f\u0947\u0917\u093e \u0915\u093f \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u092a\u0948\u0938\u0947 \u0939\u0948\u0902 \u0924\u092c \u0906\u092a\u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u091f\u093f\u0915\u091f \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u092d\u0947\u091c\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u0906\u0930\u094d\u0921\u0930 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092e\u0947\u0902 \u092a\u0939\u0941\u0902\u091a\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u090f\u0915 \u0910\u0938\u0947 \u0935\u093f\u0915\u094d\u0930\u0947\u0924\u093e \u092f\u093e\u0928\u0940 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u094b \u0916\u094b\u091c\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0917\u093e ( \u0905\u092a\u0928\u0947 \u0906\u0930\u094d\u0921\u0930 \u092e\u0948\u091a\u093f\u0902\u0917 \u0938\u093e\u092b\u094d\u091f\u0935\u0947\u092f\u0930 \u0915\u0947 \u091c\u0930\u093f\u090f) \u091c\u094b \u0915\u093f \u0906\u092a\u0915\u094b 200 \u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 \u0936\u0947\u092f\u0930 3030 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u094b\u0964", "\u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u093f\u0915\u094d\u0930\u0947\u0924\u093e \u090f\u0915 \u0939\u0940 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0939\u094b \u091c\u094b \u0915\u093f \u092a\u0942\u0930\u0947 200 \u0936\u0947\u092f\u0930 3030 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u0906\u092a \u092a\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u094b \u092f\u093e \u092b\u093f\u0930 10 \u0932\u094b\u0917 \u0939\u0948\u0902 \u091c\u093f\u0928\u092e\u0947\u0902 \u0938\u0947 \u0939\u0930 \u090f\u0915 20 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u094b \u092f\u093e \u0938\u093f\u0930\u094d\u092b \u0926\u094b \u0932\u094b\u0917 \u0939\u094b\u0902 \u091c\u093f\u0928\u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 1 \u0936\u0947\u092f\u0930 \u0914\u0930 \u0926\u0942\u0938\u0930\u093e 199 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u094b\u0964\u00a0 \u0915\u093f\u0924\u0928\u0947 \u0932\u094b\u0917 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u0947 \u092c\u0947\u091a\u0947 \u0939\u0941\u090f \u0936\u0947\u092f\u0930 \u0906\u092a \u0924\u0915 \u0906 \u0930\u0939\u0947 \u0939\u0948\u0902 \u092f\u0939 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0928\u0939\u0940\u0902 \u0939\u0948, \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u091c\u0930\u0942\u0930\u0940 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u094b 200 \u0936\u0947\u092f\u0930 3030 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u092e\u093f\u0932\u0947\u0902\u0964 \u0906\u092a\u0928\u0947 \u0907\u0938\u0940 \u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u0926\u093f\u092f\u093e \u0939\u0948\u0964 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092f\u0939\u0940 \u0915\u0930\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u092e\u094c\u091c\u0942\u0926 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u0936\u0947\u092f\u0930 \u092e\u093f\u0932 \u091c\u093e\u090f\u0902\u0964 \u090f\u0915 \u092c\u093e\u0930 \u0938\u094c\u0926\u093e \u0939\u094b \u0917\u092f\u093e \u0924\u094b \u092f\u0939 \u0938\u093e\u0930\u0947 \u0936\u0947\u092f\u0930 \u0907\u0932\u0947\u0915\u094d\u091f\u094d\u0930\u0949\u0928\u093f\u0915 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0906\u092a\u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u0907\u0932\u0947\u0915\u094d\u091f\u094d\u0930\u094b\u0928\u093f\u0915 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0939\u0940 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u0947 \u0921\u093f\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u0928\u093f\u0915\u0932 \u091c\u093e\u090f\u0902\u0917\u0947\u0964", "\u0906\u092a\u0915\u0947 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0936\u0947\u092f\u0930 \u0906\u092a\u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u092c \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u090f\u0915 \u0939\u093f\u0938\u094d\u0938\u093e \u0906\u092a\u0915\u093e \u0939\u0948 \u092f\u093e\u0928\u0940 \u0915\u0902\u092a\u0928\u0940 \u092e\u0947\u0902 \u0906\u092a \u092d\u0940 \u0939\u093f\u0938\u094d\u0938\u0947\u0926\u093e\u0930 \u0939\u0948\u0902\u0964 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u092c\u0924\u093e \u0926\u0947\u0902 \u0915\u093f \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 200 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u092e\u0947\u0902 0.000035% \u0915\u0947 \u0939\u093f\u0938\u094d\u0938\u0947\u0926\u093e\u0930 \u0939\u0948\u0902\u0964 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0927\u093e\u0930\u0915 \u0939\u094b\u0928\u0947 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0905\u092c \u0906\u092a\u0915\u094b \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921, \u0938\u094d\u091f\u0949\u0915 \u0938\u094d\u092a\u094d\u0932\u093f\u091f, \u092c\u094b\u0928\u0938, \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942, \u0935\u094b\u091f\u093f\u0902\u0917 \u0930\u093e\u0907\u091f \u0906\u0926\u093f \u0924\u092e\u093e\u092e \u0938\u0941\u0935\u093f\u0927\u093e\u090f\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0924\u0930\u092b \u0938\u0947 \u092e\u093f\u0932\u0924\u0940 \u0930\u0939\u0947\u0902\u0917\u0940\u0964 \u0907\u0928 \u0938\u092c \u0915\u094b \u0939\u092e \u0906\u0917\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964", "\u0939\u094b\u0932\u094d\u0921\u093f\u0902\u0917 \u092a\u0940\u0930\u093f\u092f\u0921 \u0935\u0939 \u0905\u0935\u0927\u093f \u0939\u094b\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938 \u0905\u0935\u0927\u093f \u0924\u0915 \u0906\u092a \u0936\u0947\u092f\u0930 \u0915\u094b \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u094b \u091c\u093e\u0928\u0915\u0930 \u0906\u0936\u094d\u091a\u0930\u094d\u092f \u0939\u094b\u0917\u093e \u0915\u093f \u0939\u094b\u0932\u094d\u0921\u093f\u0902\u0917 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u0941\u091b \u092e\u093f\u0928\u091f\u094b\u0902 \u0938\u0947 \u0932\u0947\u0915\u0930 \u0939\u092e\u0947\u0936\u093e \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u091c\u093e\u0928\u0947-\u092e\u093e\u0928\u0947 \u0928\u093f\u0935\u0947\u0936\u0915 \u0935\u093e\u0930\u0947\u0928 \u092c\u092b\u0947\u091f \u0938\u0947 \u091c\u092c \u092a\u0942\u091b\u093e \u0917\u092f\u093e \u0924\u094b \u0909\u0928\u094d\u0939\u094b\u0902\u0928\u0947 \u0915\u0939\u093e \u0915\u093f \u092e\u0947\u0930\u0947 \u0932\u093f\u090f \u0939\u094b\u0932\u094d\u0921\u093f\u0902\u0917 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0936\u0947\u092f\u0930 \u0915\u094b \u0939\u092e\u0947\u0936\u093e \u0915\u0947 \u0932\u093f\u090f \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u0928\u093e\u0964", "\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u092a\u0939\u0932\u0947 \u0926\u0947\u0916\u093e \u0925\u093e \u0915\u093f \u0915\u0948\u0938\u0947 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u0936\u0947\u092f\u0930 5 \u092e\u093f\u0928\u091f \u092e\u0947\u0902 3000 \u0938\u0947 3016 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u0917\u092f\u093e\u0964 5 \u092e\u093f\u0928\u091f \u0915\u0947 \u0939\u094b\u0932\u094d\u0921\u093f\u0902\u0917 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0939\u0948 \u0914\u0930 \u0905\u0917\u0930 \u0906\u092a \u0907\u0938\u0938\u0947 \u0938\u0902\u0924\u0941\u0937\u094d\u091f \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u094b \u092c\u0902\u0926 \u0915\u0930 \u0907\u0938\u0938\u0947 \u0928\u093f\u0915\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u090f\u0915 \u0928\u092f\u093e \u092e\u094c\u0915\u093e \u0922\u0942\u0902\u0922 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0910\u0938\u093e \u0939\u094b\u0928\u093e \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0938\u0902\u092d\u0935 \u0939\u0948\u0964 \u091c\u092c \u092c\u093e\u091c\u093e\u0930 \u0924\u0947\u091c\u0940 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948 \u0910\u0938\u0947 \u0938\u094c\u0926\u0947 \u0915\u0908 \u092c\u093e\u0930 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0939\u0930 \u091a\u0940\u091c \u090f\u0915 \u0916\u093e\u0938 \u092e\u0941\u0926\u094d\u0926\u0947 \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u0918\u0942\u092e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0935\u0939 \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0947 \u0928\u093f\u0935\u0947\u0936 \u092a\u0930 \u0905\u091a\u094d\u091b\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u092e\u093f\u0932 \u0930\u0939\u093e \u0939\u0948 \u092f\u093e \u0928\u0939\u0940\u0902\u0964 \u0905\u0917\u0930 \u0906\u092a \u0905\u092a\u0928\u0947 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0905\u091a\u094d\u091b\u0940 \u0915\u092e\u093e\u0908 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902 \u092f\u093e \u0905\u091a\u094d\u091b\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u092a\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u0915\u0940 \u092a\u0941\u0930\u093e\u0928\u0940 \u0938\u093e\u0930\u0940 \u0917\u0932\u0924\u093f\u092f\u093e\u0902 \u092e\u093e\u092b \u0915\u0940 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0930\u093f\u091f\u0930\u094d\u0928 \u092a\u093e\u0928\u093e \u0939\u0940 \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u0948\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0930\u093f\u091f\u0930\u094d\u0928 \u0915\u094b \u0938\u093e\u0932\u093e\u0928\u093e \u0915\u092e\u093e\u0908 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u0947\u0916\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0930\u093f\u091f\u0930\u094d\u0928 \u0928\u093e\u092a\u0928\u0947 \u0915\u0947 \u0915\u0908 \u0924\u0930\u0940\u0915\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u094b \u0906\u092a \u0915\u094b \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964 \u0928\u0940\u091a\u0947 \u0939\u092e \u0906\u092a\u0915\u094b \u0915\u0941\u091b \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0930\u093f\u091f\u0930\u094d\u0928 \u092c\u0924\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092f\u0939 \u092d\u0940 \u092c\u0924\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f \u0909\u0928\u0915\u094b \u0915\u0948\u0938\u0947 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f \u0915\u093f\u092f\u093e \u091c\u093e\u090f\u0964", "\u0910\u092c\u094d\u0938\u0932\u094d\u092f\u0942\u091f \u0930\u093f\u091f\u0930\u094d\u0928 (Absolute Return)- \u092f\u0939 \u0930\u093f\u091f\u0930\u094d\u0928 \u0906\u092a\u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0928\u0947 \u0905\u092a\u0928\u0947 \u0938\u094c\u0926\u0947 \u092f\u093e \u0928\u093f\u0935\u0947\u0936 \u092a\u0930 \u0915\u0941\u0932 \u0915\u093f\u0924\u0928\u0940 \u0915\u092e\u093e\u0908 \u0915\u0940 \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u092f\u0939 \u0939\u093f\u0938\u094d\u0938\u093e \u0907\u0938 \u0938\u0935\u093e\u0932 \u0915\u093e \u091c\u0935\u093e\u092c \u0926\u0947\u0924\u093e \u0939\u0948 \u0915\u093f \u092e\u0948\u0902\u0928\u0947 \u0905\u0917\u0930 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 3030 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u0916\u0930\u0940\u0926\u093e 3550 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u092c\u0947\u091a\u093e \u0924\u094b \u092e\u0948\u0902\u0928\u0947 \u0915\u0941\u0932 \u0915\u093f\u0924\u0928\u0947 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u092a\u0948\u0938\u0947 \u0907\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u092c\u0928\u093e\u090f\u0964", "\u0907\u0938 \u0930\u093f\u091f\u0930\u094d\u0928 \u0915\u094b \u092e\u093e\u092a\u0928\u0947 \u0915\u093e \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u093e \u0939\u0948:", "{\u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0940\u092e\u0924\u00f7\u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0938\u092e\u092f \u0915\u0940 \u0915\u0940\u092e\u0924 -1}\u00d7100", "\u0939\u092e\u093e\u0930\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902", "{3550\u00f73030-1}\u00d7100", "= 0.1716\u00d7100", "= 17.16%", "\u092f\u0939 \u090f\u0915 \u0915\u093e\u092b\u0940 \u0905\u091a\u094d\u091b\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u092e\u093e\u0928\u093e \u091c\u093e\u090f\u0917\u093e\u0964", "\u0915\u092e\u094d\u092a\u0949\u0909\u0902\u0921 \u0910\u0928\u0941\u0905\u0932 \u0917\u094d\u0930\u094b\u0925 \u0930\u0947\u091f \u092f\u093e\u0928\u0940 \u0938\u0940\u090f\u091c\u0940\u0906\u0930 (Compound Annual Growt Rate-CAGR)- \u0905\u0917\u0930 \u0906\u092a \u0905\u092a\u0928\u0947 \u0926\u094b \u0928\u093f\u0935\u0947\u0936 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0915\u0941\u0932 \u0930\u093f\u091f\u0930\u094d\u0928 \u092f\u093e\u0928\u0940 \u0910\u092c\u094d\u0938\u0932\u094d\u092f\u0942\u091f \u0930\u093f\u091f\u0930\u094d\u0928 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u093e \u092e\u093e\u092a\u0915 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b CAGR \u0915\u0940 \u092e\u0926\u0926 \u0932\u0947\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u0905\u0917\u0930 \u092e\u0948\u0902\u0928\u0947 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u0936\u0947\u092f\u0930 3030 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u0916\u0930\u0940\u0926\u093e \u0914\u0930 \u0936\u0947\u092f\u0930 \u0915\u094b 2 \u0938\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u093e \u0914\u0930 \u092b\u093f\u0930 \u0909\u0938\u0947 3550 \u092a\u0930 \u092c\u0947\u091a \u0926\u093f\u092f\u093e \u0924\u094b \u0907\u0928 2 \u0938\u093e\u0932\u094b\u0902 \u092e\u0947\u0902 \u092e\u0947\u0930\u093e \u0928\u093f\u0935\u0947\u0936 \u0915\u093f\u0938 \u0930\u092b\u094d\u0924\u093e\u0930 \u0938\u0947 \u092c\u0922\u093c\u093e \u092f\u0947 \u091c\u093e\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f CAGR \u0915\u093e\u092e \u0906\u090f\u0917\u093e\u0964 CAGR \u092e\u0947\u0902 \u0938\u092e\u092f \u090f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092d\u0942\u092e\u093f\u0915\u093e \u0905\u0926\u093e \u0915\u0930\u0924\u093e \u0939\u0948 \u091c\u092c\u0915\u093f \u0915\u0941\u0932 \u0930\u093f\u091f\u0930\u094d\u0928 \u092f\u093e\u0928\u0940 \u0910\u092c\u094d\u0938\u0932\u094d\u092f\u0942\u091f \u0930\u093f\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0907\u0938\u0915\u0940 \u0915\u094b\u0908 \u092d\u0942\u092e\u093f\u0915\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "CAGR \u0915\u094b \u092a\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u093e \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u093e \u0939\u0948:", "\u092f\u0939\u093e\u0901 Ending Value = \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0940\u092e\u0924", "Begining Value = \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0940\u092e\u0924", "\u0905\u092c \u0905\u0917\u0930 \u0907\u0938 \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u0947 \u0915\u094b \u0905\u092a\u0928\u0947 \u0938\u0935\u093e\u0932 \u092e\u0947\u0902 \u0921\u093e\u0932\u0947\u0902 \u0924\u094b", "{[3550/3030]^(1/2)-1}= 8.2%", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0928\u093f\u0935\u0947\u0936 8.2% \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0938\u0947 \u0926\u094b \u0938\u093e\u0932 \u0924\u0915 \u092c\u0922\u093c\u093e\u0964 \u0939\u092e \u0938\u092c \u0915\u094b \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u0907\u0938 \u0938\u092e\u092f \u0926\u0947\u0936 \u092e\u0947\u0902 \u0915\u0908 \u091c\u0917\u0939\u094b\u0902 \u092a\u0930 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u0921\u093f\u092a\u0949\u091c\u093f\u091f (FD) \u092a\u0930 8.5% \u0924\u0915 \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u092e\u093f\u0932 \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u0935\u0939\u093e\u0901 \u092a\u0930 \u092a\u0942\u0902\u091c\u0940 \u092d\u0940 \u0938\u0941\u0930\u0915\u094d\u0937\u093f\u0924 \u0930\u0939\u0924\u0940 \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 8.2%\u00a0 \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0906\u0915\u0930\u094d\u0937\u0915 \u0928\u0939\u0940\u0902 \u0932\u0917\u0947\u0917\u093e\u0964", "\u0907\u0938\u0940\u0932\u093f\u090f \u091c\u092c \u092d\u0940 \u0915\u0908 \u0938\u093e\u0932\u094b\u0902 \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u091c\u093e\u0928\u0928\u093e \u0939\u094b \u0924\u094b CAGR \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u091c\u092c \u0906\u092a \u090f\u0915 \u0938\u093e\u0932 \u092f\u093e \u0915\u092e \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u092d\u0940 \u0910\u092c\u094d\u0938\u0932\u094d\u092f\u0942\u091f \u0930\u093f\u091f\u0930\u094d\u0928 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0940\u091c\u093f\u090f\u0964", "\u092f\u0926\u093f \u0906\u092a\u0928\u0947 \u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938 3030 \u092a\u0930 \u0916\u0930\u0940\u0926\u093e \u0914\u0930 6 \u092e\u0939\u0940\u0928\u0947 \u092e\u0947\u0902 \u0939\u0940 \u0909\u0938\u0947 3550 \u092a\u0930 \u092c\u0947\u091a \u0926\u093f\u092f\u093e \u0924\u094b? \u0909\u0938 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0906\u092a 17.6% \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0915\u092e\u093e\u090f\u0902\u0917\u0947 \u091c\u094b \u0915\u093f \u090f\u0915 \u0938\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f 34.32% (17.6%*2) \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0939\u0941\u0906\u0964", "\u0924\u094b \u0930\u093f\u091f\u0930\u094d\u0928 \u0915\u094b \u0939\u092e\u0947\u0936\u093e \u0938\u093e\u0932\u093e\u0928\u093e \u0924\u094c\u0930 \u092a\u0930 \u0928\u093e\u092a\u0928\u093e \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u093e \u0939\u0930 \u092d\u093e\u0917\u0940\u0926\u093e\u0930 \u0905\u092a\u0928\u0940 \u090f\u0915 \u0905\u0932\u0917 \u0938\u094d\u091f\u093e\u0907\u0932 \u0932\u0947 \u0915\u0930 \u0906\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u0947-\u091c\u0948\u0938\u0947 \u0935\u094b \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0938\u092e\u092f \u0917\u0941\u091c\u093e\u0930\u0924\u0947 \u0939\u0948\u0902, \u0935\u0948\u0938\u0947-\u0935\u0948\u0938\u0947 \u0909\u0928\u0915\u093e \u0938\u094d\u091f\u093e\u0907\u0932 \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0924\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0915\u094b\u0908 \u0907\u0902\u0938\u093e\u0928 \u0915\u093f\u0924\u0928\u093e \u0930\u093f\u0938\u094d\u0915 \u0932\u0947 \u0938\u0915\u0924\u093e \u0939\u0948 \u0909\u0938\u0938\u0947 \u092d\u0940 \u0909\u0938\u0915\u093e \u0938\u094d\u091f\u093e\u0907\u0932 \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0939\u0930 \u092d\u093e\u0917\u0940\u0926\u093e\u0930 \u092f\u093e \u0924\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0940 \u0915\u0948\u091f\u0947\u0917\u0930\u0940 \u092e\u0947\u0902 \u0906\u0924\u093e \u0939\u0948 \u092f\u093e \u092b\u093f\u0930 \u0907\u0902\u0935\u0947\u0938\u094d\u091f\u0930 \u0915\u0940\u0964", "\u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0935\u094b \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u094b \u092e\u094c\u0915\u0947 \u0915\u094b \u092a\u0939\u091a\u093e\u0928\u0924\u093e \u0939\u0948 \u0914\u0930 \u0938\u094c\u0926\u093e \u0915\u0930 \u0932\u0947\u0924\u093e \u0939\u0948 \u0907\u0938 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0947 \u0938\u093e\u0925 \u0915\u093f \u092b\u093e\u092f\u0926\u093e \u092e\u093f\u0932\u0924\u0947 \u0939\u0940 \u0935\u094b \u0907\u0938 \u0938\u094c\u0926\u0947 \u0938\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932 \u091c\u093e\u090f\u0917\u093e\u0964 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092c\u0939\u0941\u0924 \u091b\u094b\u091f\u0947 \u0938\u092e\u092f \u0915\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0939\u092e\u0947\u0936\u093e \u0938\u091c\u0917 \u0930\u0939\u0924\u093e \u0939\u0948 \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0938\u092e\u092f \u091c\u093f\u0938\u0947 \u0939\u092e \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0906\u0935\u0930 (Market Hour ) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902, \u0939\u092e\u0947\u0936\u093e \u092e\u094c\u0915\u0947 \u0915\u0940 \u0924\u0932\u093e\u0936 \u092e\u0947\u0902 \u0930\u0939\u0924\u093e \u0939\u0948 \u0914\u0930 \u0905\u092a\u0928\u0947 \u0930\u093f\u0938\u094d\u0915 \u0914\u0930 \u0930\u093f\u0935\u093e\u0930\u094d\u0921 (Reward) \u092f\u093e\u0928\u0940 \u091c\u094b\u0916\u093f\u092e \u0914\u0930 \u091c\u094b\u0916\u093f\u092e \u0932\u0947\u0928\u0947 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u0947 \u092b\u093e\u092f\u0926\u0947 \u0915\u094b \u0906\u0902\u0915\u0924\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u091f\u094d\u0930\u0947\u0921\u0930 \u0924\u0947\u091c\u0940 \u0914\u0930 \u092e\u0902\u0926\u0940 \u092e\u0947\u0902 \u0915\u093f\u0938\u0940 \u0915\u094b \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0928\u0939\u0940\u0902 \u0926\u0947\u0924\u093e, \u0935\u0939 \u092c\u0938 \u092e\u094c\u0915\u0947 \u0924\u0932\u093e\u0936\u0924\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u091f\u094d\u0930\u0947\u0921\u0930 3 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0926\u0941\u0928\u093f\u092f\u093e \u0915\u0947 \u0915\u0941\u091b \u092e\u0936\u0939\u0942\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0939\u0948\u0902 \u2013 \u091c\u0949\u0930\u094d\u091c \u0938\u094b\u0930\u0949\u0938, \u090f\u0921 \u0938\u0947\u092f\u0915\u094b\u091f\u093e, \u092a\u0949\u0932 \u091f\u094d\u092f\u0942\u0921\u0949\u0930, \u0935\u0949\u0928 \u0915\u0947 \u0925\u093e\u0930, \u0938\u094d\u091f\u0948\u0928\u0932\u0940 \u0921\u094d\u0930\u0915\u0947\u0928 \u092e\u093f\u0932\u0930\u0964", "\u090f\u0915 \u0907\u0902\u0935\u0947\u0938\u094d\u091f\u0930 \u0935\u094b \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u094b \u0936\u0947\u092f\u0930 \u0915\u094b \u0907\u0938 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0947 \u0938\u093e\u0925 \u0916\u0930\u0940\u0926\u0924\u093e \u0939\u0948 \u0915\u093f \u0909\u0938\u092e\u0947\u0902 \u0909\u0938\u0915\u094b \u0915\u093e\u092b\u0940 \u092e\u0941\u0928\u093e\u092b\u093e \u0939\u094b\u0917\u093e\u0964 \u0935\u094b \u0905\u092a\u0928\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u094b \u0932\u0902\u092c\u093e \u0938\u092e\u092f \u0926\u0947\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0930\u0939\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0909\u0938\u0915\u093e \u0928\u093f\u0935\u0947\u0936 \u092c\u0922\u093c \u0938\u0915\u0947\u0964 \u090f\u0915 \u0928\u093f\u0935\u0947\u0936\u0915 \u092f\u093e \u0907\u0902\u0935\u0947\u0938\u094d\u091f\u0930 \u0915\u0947 \u0932\u093f\u090f \u0939\u094b\u0932\u094d\u0921\u093f\u0902\u0917 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u0941\u091b \u0938\u093e\u0932\u094b\u0902 \u0915\u093e \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0928\u093f\u0935\u0947\u0936\u0915 \u0926\u094b \u0924\u0930\u0939 \u0915\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u2026", "\u0915\u0941\u091b \u0928\u093e\u092e\u0940 \u0917\u093f\u0930\u093e\u092e\u0940 \u0935\u0948\u0932\u094d\u092f\u0942 \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u0930 \u0915\u0947 \u0928\u093e\u092e \u0939\u0948\u0902: \u091a\u093e\u0930\u094d\u0932\u0940 \u092e\u0902\u0917\u0930, \u092a\u0940\u091f\u0930 \u0932\u093f\u0902\u091a, \u092c\u0947\u0902\u091c\u093e\u092e\u093f\u0928 \u0917\u094d\u0930\u093e\u0939\u092e, \u0925\u0949\u092e\u0938 \u0930\u094b, \u0935\u0949\u0930\u0947\u0928 \u092c\u092b\u0947\u091f, \u091c\u0949\u0928 \u092c\u094b\u0917\u0932, \u091c\u0949\u0928 \u091f\u0947\u092e\u094d\u092a\u094d\u0932\u091f\u0928 \u0907\u0924\u094d\u092f\u093e\u0926\u093f\u0964", "\u0924\u094b \u0906\u092a \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0915\u093f\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0907\u0902\u0935\u0947\u0938\u094d\u091f\u0930 \u092c\u0928\u0928\u093e \u091a\u093e\u0939\u0947\u0902\u0917\u0947?", "i want to learn share market", "Hi, please read through varsity, we also have it in Hindi version if you are not comfortable reading the English version. This will help you learn about the markets and get you started with trading as well. Also, do visit our website https://zerodha.com/ for more information.", "\u091c\u0940\u0930\u094b\u0927\u093e \u0915\u093e\u0908\u091f \u090f\u092a\u094d\u0932\u0940\u0915\u0947\u0936\u0928 main live market ki Suvidha uplabdh Karai Jaaye", "Hi, \u0906\u092a\u0915\u093e \u0938\u0941\u091d\u093e\u0935 \u0926\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964 \u0905\u092d\u0940 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u093e\u0930\u0947 \u092a\u093e\u0938 \u092f\u0939 \u0938\u0941\u0935\u093f\u0927\u093e \u0909\u092a\u0932\u092c\u094d\u0927 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0910\u092a \u092a\u0930 \u0939\u092e \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0930\u0942\u092a \u0938\u0947 \u0906\u092a\u0915\u094b \u092c\u0924\u093e\u090f\u0902\u0917\u0947 \u0915\u093f \u0905\u0917\u0930 \u0939\u092e \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0907\u0938\u0947 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u093e\u0924\u0947 \u0939\u0948\u0902\n\u0924\u094b\u0964", "\u0938\u0930\n\u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0939\u092e\u093e\u0930\u0947 \u091c\u0948\u0938\u0947 \u0928\u092f\u0947 \u0932\u094b\u0917\u094b\u0902 \u0915\u094b \u0932\u093e\u0907\u0935 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u0940\u0916\u0928\u0947 \u090f\u0935 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u0940 \u0924\u0930\u092b \u0938\u0947 \u0915\u094b\u0908 \u0935\u0947\u092c \u0938\u093f\u0930\u0940\u091c\u093c \u0939\u0948 \u0915\u094d\u092f\u093e\u0964", "\u0906\u092a \u0939\u092e\u093e\u0930\u0947 youtube \u091a\u0948\u0928\u0932 \u092a\u0930 \u091c\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "Hi\nIs best knowledge but I m facing 1 issue\nWhere I m using 1 link where hindi option available but which app available in play store ther is no hindi language available\nPlease guide\nHindi link which I m using\nhttps://zerodha.com/varsity/", "Currently, the app is only available in English, the modules in Hindi are only available on the web Varsity.", "\u0936\u094d\u0930\u0940\u092e\u093e\u0928 \u091c\u0940 \u0906\u092a \u0938\u0947 \u090f\u0915 \u092c\u093e\u0924 \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0901 \u0915\u0940 \u092e\u0947\u0928\u0947 \u090f\u0915 \u0936\u0947\u092f\u0930 \u0959\u0930\u0940\u0926\u093e \u0909\u0938 \u0915\u094b \u092e\u0947\u0902 \u0915\u093f\u0938\u0940 \u0905\u0928\u094d\u092f \u0916\u0930\u0940\u0926\u093e\u0930 \u0915\u094b \u092c\u0947\u091a \u0938\u0915\u0924\u093e \u0939\u0942\u0901 \u092e\u0947\u0930\u093e \u0909\u0938 \u0915\u0902\u092a\u0928\u0940 \u0938\u0947 \u0915\u094d\u092f\u093e \u0938\u092e\u094d\u092c\u0928\u094d\u0927 \u0930\u0939\u093e \u092f\u0926\u093f \u0909\u0938 \u0936\u0947\u092f\u0930 \u0915\u094b \u0915\u094b\u0908 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u093e \u0928 \u092e\u093f\u0932\u0947 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0924\u094b \u092f\u0947 \u0915\u0902\u092a\u0928\u0940 \u0926\u094d\u0935\u093e\u0930\u093e \u0932\u0940 \u0917\u092f\u0940 \u0930\u0915\u092e \u0939\u0940 \u0924\u094b \u0939\u0948 \u0915\u0943\u092a\u092f\u093e \u092c\u0924\u093e\u090f\u0902 \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u094d", "\u091c\u092c \u0915\u094b\u0908 \u0916\u0930\u0940\u0926\u093e\u0930 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0939\u0948, \u0924\u094b \u0906\u092a \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u0928\u0939\u0940\u0902 \u092c\u0947\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0914\u0930 \u091c\u092c \u0924\u0915 \u0915\u093f \u0905\u0928\u094d\u092f \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0938\u0947 \u0915\u0941\u091b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0926\u093f\u0932\u091a\u0938\u094d\u092a\u0940 \u0928 \u0939\u094b, \u0924\u092c \u0924\u0915 \u0906\u092a \u0909\u0928\u0915\u0947 \u0938\u093e\u0925 \u0930\u0939\u0947\u0902\u0917\u0947\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930, \u092e\u093e\u0930\u094d\u0915\u0947\u091f\u094d\u0938 \u092e\u0947\u0902 \u0915\u094b\u0908 \u0928 \u0915\u094b\u0908 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0915\u0939\u0940\u0902 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092e\u093e\u0930\u094d\u0915\u0947\u091f\u094d\u0938 \u092c\u093f\u0928\u093e \u0916\u0930\u0940\u0926\u0926\u093e\u0930 \u092f\u093e \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u0947 \u0915\u092d\u0940 \u091a\u0932 \u0928\u0939\u0940\u0902 \u0938\u0915\u0924\u093e\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/08/Ch-6-title.jpg", "https://secure.gravatar.com/avatar/dcf9c6dbd8522b55ec04803c7c21bed9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/cd14c766ab6141eff026041a3a47bae3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ba86bb798287546c68ff84ad7c67c4b6?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/83cfad13afed568b7b203bcccbae0978?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9c864810ba90817b5fa1559ecbb46a84?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e \u0938\u0902\u0916\u094d\u092f\u093e</th>\n<th>\u0938\u092e\u092f</th>\n<th>\u0932\u093e\u0938\u094d\u091f \u091f\u094d\u0930\u0947\u0921\u0947\u0921 \u092a\u094d\u0930\u093e\u0907\u0938- LTP</th>\n<th>\u092c\u093f\u0915\u0935\u093e\u0932 \u092f\u093e \u092c\u0947\u091a\u0928\u0947\u0935\u093e\u0932\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924</th>\n<th>\u0916\u0930\u0940\u0926\u093e\u0930 \u0915\u094d\u092f\u093e \u0915\u0930\u0924\u093e \u0939\u0948</th>\n<th>\u0928\u092f\u093e \u0932\u093e\u0938\u094d\u091f \u091f\u094d\u0930\u0947\u0921\u0947\u0921 \u092a\u094d\u0930\u093e\u0907\u0938</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>10:00</td>\n<td>3000</td>\n<td>3002</td>\n<td>\u0916\u0930\u0940\u0926\u0924\u093e \u0939\u0948</td>\n<td>3002</td>\n</tr>\n<tr>\n<td>2</td>\n<td>10:01</td>\n<td>3002</td>\n<td>3006</td>\n<td>\u0916\u0930\u0940\u0926\u0924\u093e \u0939\u0948</td>\n<td>3006</td>\n</tr>\n<tr>\n<td>3</td>\n<td>10:03</td>\n<td>3006</td>\n<td>3011</td>\n<td>\u0916\u0930\u0940\u0926\u0924\u093e \u0939\u0948</td>\n<td>3011</td>\n</tr>\n<tr>\n<td>4</td>\n<td>10:05</td>\n<td>3011</td>\n<td>3016</td>\n<td>\u0916\u0930\u0940\u0926\u0924\u093e \u0939\u0948</td>\n<td>3016</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "7. \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0907\u0902\u0921\u0947\u0915\u094d\u0938", "text": ["\u0905\u0917\u0930 \u092e\u0948\u0902 \u0906\u092a\u0938\u0947 \u092a\u0942\u091b\u0942\u0902 \u0915\u093f \u0905\u092a\u0928\u0947 \u0936\u0939\u0930 \u0915\u0947 \u091f\u094d\u0930\u0948\u092b\u093f\u0915 \u0915\u093e \u0924\u093e\u091c\u093e \u0939\u093e\u0932 \u092c\u0924\u093e\u0913 \u0924\u094b \u0906\u092a \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0902\u0917\u0947?", "\u0906\u092a\u0915\u0947 \u0936\u0939\u0930 \u092e\u0947\u0902 \u0939\u091c\u093e\u0930\u094b\u0902 \u0938\u0921\u093c\u0915\u0947\u0902 \u0914\u0930 \u091a\u094c\u0930\u093e\u0939\u0947 \u0939\u094b\u0902\u0917\u0947, \u0915\u094d\u092f\u093e \u0906\u092a \u0938\u092c\u0915\u093e \u0939\u093e\u0932 \u092a\u0924\u093e \u0915\u0930\u0947\u0902\u0917\u0947 \u0914\u0930 \u092b\u093f\u0930 \u091c\u0935\u093e\u092c \u0926\u0947\u0902\u0917\u0947? \u0938\u092e\u091d\u0926\u093e\u0930\u0940 \u0924\u094b \u0907\u0938\u0940 \u092e\u0947\u0902 \u0939\u094b\u0917\u0940 \u0915\u093f \u0906\u092a \u0915\u0941\u091b \u092e\u0941\u0916\u094d\u092f \u0938\u0921\u093c\u0915\u094b\u0902 \u0914\u0930 \u091a\u094c\u0930\u093e\u0939\u094b\u0902 \u0915\u093e \u0939\u093e\u0932 \u092a\u0924\u093e \u0915\u0930\u0947\u0902 \u091c\u093f\u0928\u0938\u0947 \u0906\u092a \u0936\u0939\u0930 \u0915\u0940 \u0939\u0930 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u091f\u094d\u0930\u0948\u092b\u093f\u0915 \u0915\u093e \u0939\u093e\u0932 \u092c\u0924\u093e \u0938\u0915\u0947\u0902\u0964 \u0905\u0917\u0930 \u0907\u0928 \u0938\u0921\u093c\u0915\u094b\u0902 \u092a\u0930 \u092d\u0940\u0921\u093c \u0939\u094b \u0924\u094b \u0906\u092a \u092c\u094b\u0932\u0947\u0902\u0917\u0947 \u0915\u093f \u0936\u0939\u0930 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u091f\u094d\u0930\u0948\u092b\u093f\u0915 \u0939\u0948 \u0914\u0930 \u0928\u0939\u0940\u0902 \u0924\u094b \u0915\u0939\u0947\u0902\u0917\u0947 \u0915\u093f \u091f\u094d\u0930\u0948\u092b\u093f\u0915 \u0938\u093e\u092e\u093e\u0928\u094d\u092f \u0939\u0948\u0964", "\u0920\u0940\u0915 \u0907\u0938\u0940 \u0924\u0930\u0939 \u0905\u0917\u0930 \u0906\u092a\u0938\u0947 \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u093e \u0939\u093e\u0932 \u092a\u0942\u091b\u093e \u091c\u093e\u090f \u0924\u094b, \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0902\u0917\u0947 \u0906\u092a? \u092c\u093e\u092e\u094d\u092c\u0947 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c (BSE)\u00a0 \u092e\u0947\u0902 \u0915\u0930\u0940\u092c 5000 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u0932\u093f\u0938\u094d\u091f\u0947\u0921 \u0939\u0948\u0902 \u0914\u0930 \u0928\u0947\u0936\u0928\u0932 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c (NSE) \u092e\u0947\u0902 \u0915\u0930\u0940\u092c 2000, \u0907\u0928 \u0938\u092c\u0915\u093e \u0939\u093e\u0932 \u092a\u0924\u093e \u0915\u0930\u0928\u093e \u0915\u093f \u0909\u0928\u0915\u0947 \u0936\u0947\u092f\u0930 \u090a\u092a\u0930 \u091c\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u092f\u093e \u0928\u0940\u091a\u0947, \u0905\u092a\u0928\u0947 \u0906\u092a \u092e\u0947\u0902 \u0915\u093e\u092b\u0940 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0915\u093e\u092e \u0939\u094b\u0917\u093e\u0964", "\u0907\u0938\u0915\u0940 \u091c\u0917\u0939 \u0906\u0938\u093e\u0928 \u0924\u0930\u0940\u0915\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0915\u0941\u091b \u0916\u093e\u0938 \u0924\u0930\u0939 \u0915\u0940 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u092f\u093e \u0909\u0926\u094d\u092f\u094b\u0917 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0939\u093e\u0932\u0924 \u092a\u0924\u093e \u0915\u0930 \u0932\u0940 \u091c\u093e\u090f\u0964 \u0905\u0917\u0930 \u0907\u0928\u092e\u0947\u0902 \u0938\u0947 \u0905\u0927\u093f\u0915\u0924\u0930 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0928\u0940\u091a\u0947 \u0939\u0948\u0902 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u0928\u0940\u091a\u0947 \u0914\u0930 \u0905\u0917\u0930 \u091c\u094d\u092f\u093e\u0926\u093e\u0924\u0930 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0936\u0947\u092f\u0930 \u090a\u092a\u0930 \u0939\u0948\u0902 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u090a\u092a\u0930 \u0915\u0939\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u0905\u0917\u0930 \u0915\u0941\u091b \u0928\u0940\u091a\u0947 \u0914\u0930 \u0915\u0941\u091b \u090a\u092a\u0930 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u092e\u093f\u0932\u093e-\u091c\u0941\u0932\u093e \u0915\u0939\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0915\u0941\u091b \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u092a\u094d\u0930\u0924\u093f\u0928\u093f\u0927\u093f \u092c\u0928\u093e\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0909\u0928\u0915\u093e \u0939\u093e\u0932 \u0926\u0947\u0916 \u0915\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0939\u093e\u0932 \u092c\u0924\u093e\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0928 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u093e \u0938\u092e\u0942\u0939 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u0938\u0942\u091a\u0915\u093e\u0902\u0915 \u092f\u093e\u0928\u0940 \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 (Stock Market Index) \u092c\u0928\u093e\u0924\u093e \u0939\u0948\u0964", "", "\u0938\u094c\u092d\u093e\u0917\u094d\u092f \u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0939\u093e\u0932 \u092c\u0924\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0907\u0928 \u091a\u0941\u0928\u0940 \u0939\u0941\u0908 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0938\u092e\u0942\u0939 \u0915\u0940 \u0939\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u092d\u0940 \u0905\u0932\u0917 \u0905\u0932\u0917 \u0926\u0947\u0916\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0907\u0928 \u0938\u092d\u0940 \u0915\u0902\u092a\u093f\u0928\u092f\u094b\u0902 \u0915\u094b \u092a\u0939\u0932\u0947 \u0939\u0940 \u090f\u0915 \u0938\u093e\u0925 \u092e\u093f\u0932\u093e \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938 \u092e\u093f\u0932\u0947 \u0939\u0941\u090f \u0938\u092e\u0942\u0939 \u092a\u0930 \u0932\u0917\u093e\u0924\u093e\u0930 \u0928\u093f\u0917\u093e\u0939 \u0930\u0916\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0928\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0939\u093e\u0932 \u092c\u0924\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0907\u0938 \u0938\u092e\u0942\u0939 \u0915\u094b \u0939\u0940 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 (Market Index) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u0926\u094b \u092e\u0941\u0916\u094d\u092f \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0939\u0948\u0902- S&P BSE Sensex \u091c\u094b \u092c\u093e\u092e\u094d\u092c\u0947 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0939\u0948 \u0914\u0930 CNX Nifty \u091c\u094b NSE \u092f\u093e\u0928\u0940 \u0928\u0947\u0936\u0928\u0932 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u093e \u0939\u093e\u0932 \u092c\u0924\u093e\u0928\u0947 \u0935\u093e\u0932\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0939\u0948\u0964", "S&P \u092f\u093e\u0928\u0940 \u0938\u094d\u091f\u0948\u0902\u0921\u0930\u094d\u0921 \u090f\u0902\u0921 \u092a\u0941\u0905\u0930\u094d\u0938 (Standard and Poor\u2019s), \u090f\u0915 \u0905\u0902\u0924\u0930\u094d\u0930\u093e\u0937\u094d\u091f\u094d\u0930\u0940\u092f \u0915\u094d\u0930\u0947\u0921\u093f\u091f \u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u091c\u0947\u0902\u0938\u0940 \u0939\u0948\u0964 S&P \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092c\u0928\u093e\u0928\u0947 \u0915\u0940 \u0935\u093f\u0936\u0947\u0937\u091c\u094d\u091e \u090f\u091c\u0947\u0902\u0938\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0928\u094d\u0939\u094b\u0928\u0947 BSE \u0915\u094b \u0932\u093e\u0907\u0938\u0947\u0902\u0938 \u0926\u093f\u092f\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 S&P \u0915\u093e \u0928\u093e\u092e \u091c\u0941\u0921\u093c\u093e \u0939\u0948\u0964", "", "\u092b\u094d\u091f\u0940 (CNX Nifty) \u092e\u0947\u0902 \u0928\u0947\u0936\u0928\u0932 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0947 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0947 \u0914\u0930 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u091f\u094d\u0930\u0947\u0921 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 (\u0916\u0930\u0940\u0926\u0947 \u092c\u0947\u091a\u0947 \u091c\u093e\u0928\u0947 \u0935\u093e\u0932\u0947) \u0936\u0947\u092f\u0930 \u0936\u093e\u092e\u093f\u0932 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u094b \u091a\u0932\u093e\u0928\u0947 \u0915\u0940 \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u0940 \u0907\u0902\u0921\u093f\u092f\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0938\u0930\u094d\u0935\u093f\u0938\u0947\u091c \u090f\u0902\u0921 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f\u094d\u0938 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 (IISL) \u0915\u0940 \u0939\u0948\u0964 \u092f\u0947 NSE \u0914\u0930 CRISIL \u0915\u093e \u091c\u094d\u0935\u093e\u0907\u0902\u091f \u0935\u0947\u0902\u091a\u0930 \u092f\u093e\u0928\u0940 \u0938\u0902\u092f\u0941\u0915\u094d\u0924 \u0909\u0926\u094d\u092f\u092e \u0939\u0948\u0964 CNX \u0915\u093e \u092f\u0939\u093e\u0902 \u092e\u0924\u0932\u092c \u0939\u0948 CRISIL \u0914\u0930 NSE.", "\u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0939\u092e\u0947\u0902 \u0939\u0930 \u092e\u093f\u0928\u091f \u092f\u0947 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0916\u093f\u0932\u093e\u0921\u093c\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0948\u0938\u093e \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u093e \u090a\u092a\u0930-\u0928\u0940\u091a\u0947 \u0939\u094b\u0928\u093e \u0939\u092e\u0947\u0902 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0909\u092e\u094d\u092e\u0940\u0926\u0947\u0902 \u0915\u093f\u0927\u0930 \u091c\u093e \u0930\u0939\u0940 \u0939\u0948\u0902\u0964 \u091c\u092c \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0932\u094b\u0917 \u092e\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092d\u0935\u093f\u0937\u094d\u092f \u0905\u091a\u094d\u091b\u093e \u0939\u0948 \u0924\u094b \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u090a\u092a\u0930 \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u091c\u092c \u092f\u0947 \u0932\u094b\u0917 \u092e\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0906\u0928\u0947 \u0935\u093e\u0932\u093e \u0938\u092e\u092f \u0916\u0930\u093e\u092c \u0939\u0948 \u0924\u094b \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0928\u0940\u091a\u0947 \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0947 \u0915\u0941\u091b \u0916\u093e\u0938 \u0909\u092a\u092f\u094b\u0917 \u092c\u0924\u093e\u090f \u091c\u093e \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "\u0938\u0942\u091a\u0928\u093e (Information)- \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u090f\u0915 \u0938\u092e\u092f \u0935\u093f\u0936\u0947\u0937 \u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0926\u093f\u0936\u093e \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0926\u0947\u0936 \u0915\u0940 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u093e \u092d\u0940 \u0905\u0928\u0941\u092e\u093e\u0928 \u092e\u093f\u0932\u0924\u093e \u0939\u0948\u0964 \u090a\u092a\u0930 \u091a\u0922\u093c \u0930\u0939\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0932\u094b\u0917 \u092d\u0935\u093f\u0937\u094d\u092f \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u091c\u092c \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0928\u0940\u091a\u0947 \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u092f\u0947 \u092e\u093e\u0928\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0932\u094b\u0917 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u094b \u0932\u0947 \u0915\u0930 \u0909\u0924\u094d\u0938\u093e\u0939\u093f\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948\u0902\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 1 \u091c\u0928\u0935\u0930\u0940 2014 \u0915\u094b \u0928\u093f\u092b\u094d\u091f\u0940 6301 \u092a\u0930 \u0925\u093e \u0914\u0930 24 \u091c\u0942\u0928 2014 \u0915\u094b 7580\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f 1278 \u0905\u0902\u0915\u094b\u0902 \u0915\u0940 \u092c\u0922\u094b\u0924\u094d\u0924\u0930\u0940 \u092f\u093e\u0928\u0940 20.3%\u00a0 \u0915\u093e \u092c\u0926\u0932\u093e\u0935\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0907\u0938 \u0926\u094c\u0930\u093e\u0928 \u092c\u093e\u091c\u093e\u0930 \u092e\u091c\u092c\u0942\u0924\u0940 \u0915\u0947 \u0938\u093e\u0925 \u090a\u092a\u0930 \u0917\u092f\u093e \u091c\u093f\u0938\u0938\u0947 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948 \u0932\u094b\u0917 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u094b \u0932\u0947 \u0915\u0930 \u0906\u0936\u093e\u0935\u093e\u0926\u0940 \u0925\u0947\u0964", "\u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u092e\u092f \u0938\u0940\u092e\u093e \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f 25 \u091c\u0942\u0928 2014 \u0915\u094b \u0938\u0941\u092c\u0939 9:30 \u092c\u091c\u0947 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 7583 \u092a\u0930 \u0925\u093e \u0932\u0947\u0915\u093f\u0928 \u090f\u0915 \u0918\u0902\u091f\u0947 \u092c\u093e\u0926 \u092f\u0947 7565 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u0917\u092f\u093e, \u090f\u0915 \u0918\u0902\u091f\u0947 \u092e\u0947\u0902 \u0906\u0908 \u092f\u0947 18 \u0905\u0902\u0915\u094b\u0902 \u0915\u0940 \u0917\u093f\u0930\u093e\u0935\u091f \u092c\u0924\u093e\u0924\u0940 \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0932\u094b\u0917 \u0909\u0924\u094d\u0938\u093e\u0939 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u0925\u0947\u0964", "\u092c\u0947\u0902\u091a\u092e\u093e\u0930\u094d\u0915 \u0915\u0947 \u0932\u093f\u090f (Benchmarking)- \u0906\u092a \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0930 \u0930\u0939\u0947 \u0939\u094b\u0902 \u092f\u093e \u0928\u093f\u0935\u0947\u0936, \u0907\u0938\u0915\u0947 \u092a\u094d\u0930\u0926\u0930\u094d\u0936\u0928 \u0915\u094b \u0915\u0948\u0938\u0947 \u0928\u093e\u092a\u0947\u0902\u0917\u0947? \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0906\u092a\u0928\u0947 100,000\u00a0 \u0930\u0941\u092a\u092f\u0947 \u0932\u0917\u093e\u090f \u0914\u0930 20,000 \u0915\u092e\u093e\u090f, \u0905\u092c \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 120,000 \u0915\u0940 \u0930\u0915\u092e \u0939\u0948\u0964 \u0938\u0941\u0928\u0928\u0947 \u092e\u0947\u0902 \u0924\u094b \u092f\u0947 \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u094b 20% \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u092e\u093f\u0932\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0940 \u0926\u094c\u0930\u093e\u0928 \u0928\u093f\u092b\u094d\u091f\u0940 6000 \u0938\u0947 7800 \u092a\u0930 \u0906 \u0917\u092f\u093e \u092f\u093e\u0928\u0940 \u0909\u0938\u0928\u0947 30% \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0926\u093f\u092f\u093e\u0964", "\u0905\u092c \u0906\u092a\u0915\u094b \u0932\u0917\u0947\u0917\u093e \u0915\u093f \u0906\u092a\u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0938\u0947 \u0915\u092e \u0930\u0939\u093e\u0964 \u0905\u0917\u0930 \u0906\u092a \u092f\u0947 \u0924\u0941\u0932\u0928\u093e \u0928\u0939\u0940\u0902 \u0915\u0930 \u092a\u093e\u0924\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u0928\u0939\u0940\u0902 \u091a\u0932\u0924\u093e \u0915\u093f \u0906\u092a\u0915\u093e \u092a\u094d\u0930\u0926\u0930\u094d\u0936\u0928 \u0915\u0948\u0938\u093e \u0930\u0939\u093e\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u094b \u092c\u0947\u0902\u091a\u092e\u093e\u0930\u094d\u0915 \u0915\u0940 \u0924\u0930\u0939 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0915\u0947 \u092a\u094d\u0930\u0926\u0930\u094d\u0936\u0928 \u0928\u093e\u092a\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0939\u0930 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0938\u0947 \u092c\u0947\u0939\u0924\u0930 \u092a\u094d\u0930\u0926\u0930\u094d\u0936\u0928 \u0915\u0930\u0928\u0947 \u0915\u0940\u0964", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 (Trading)\u2013 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u093e \u0938\u092c\u0938\u0947 \u0905\u0927\u093f\u0915 \u0909\u092a\u092f\u094b\u0917 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u091c\u094d\u092f\u093e\u0926\u093e\u0924\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0935\u094b \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092f\u093e \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0938\u0940 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0938\u094c\u0926\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0938\u0941\u092c\u0939 10:30 \u092a\u0930 \u0935\u093f\u0924\u094d\u0924 \u092e\u0902\u0924\u094d\u0930\u0940 \u092c\u091c\u091f \u092d\u093e\u0937\u0923 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0938\u0947 \u090f\u0915 \u0918\u0902\u091f\u0947 \u092a\u0939\u0932\u0947 \u0928\u093f\u092b\u094d\u091f\u0940 6600 \u092a\u0930 \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u091c\u091f \u092e\u0947\u0902 \u0915\u0941\u091b \u0910\u0938\u0940 \u0918\u094b\u0937\u0923\u093e \u0939\u094b\u0917\u0940 \u0915\u093f \u0926\u0947\u0936 \u0915\u0940 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092e\u0947\u0902 \u0938\u0941\u0927\u093e\u0930 \u0939\u094b\u0917\u093e\u0964 \u0910\u0938\u093e \u0939\u094b\u0928\u0947 \u092a\u0930 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u093f\u0927\u0930 \u091c\u093e\u090f\u0917\u093e? \u090a\u092a\u0930 \u0928\u093e? \u0924\u092c \u0906\u092a \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 6600 \u092a\u0930 \u0916\u0930\u0940\u0926\u0947\u0902\u0917\u0947\u0964", "\u0905\u092c \u092c\u091c\u091f \u092d\u093e\u0937\u0923 \u0906\u092a\u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0930\u0939\u0924\u093e \u0939\u0948 \u0914\u0930 \u0928\u093f\u092b\u094d\u091f\u0940 6900 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u0906\u092a 300 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u090a\u092a\u0930 \u0905\u092a\u0928\u0947 \u092b\u093e\u092f\u0926\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0938\u094c\u0926\u0947 \u0938\u0947 \u0928\u093f\u0915\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0910\u0938\u0947 \u091f\u094d\u0930\u0947\u0921 \u092f\u093e\u0928\u0940 \u0938\u094c\u0926\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935 \u0938\u0947\u0917\u092e\u0947\u0902\u091f (Derivative Segment) \u092e\u0947\u0902 \u0915\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u092d\u0940 \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u093f\u0930\u094d\u092b \u0907\u0924\u0928\u093e \u091c\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u092f\u0939\u093e\u0901 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u093e \u0938\u094c\u0926\u093e \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948, \u0907\u0938 \u092a\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u092c\u093e\u0926 \u092e\u0947\u0902 \u091c\u093e\u0928\u0947\u0902\u0917\u0947\u0964", "\u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u0939\u0947\u091c\u093f\u0902\u0917 (Portfolio Hedging)- \u00a0\u0928\u093f\u0935\u0947\u0936\u0915 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u090f\u0915 \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u092c\u0928\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u093f\u0938\u092e\u0947\u0902 10-12 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0928\u094d\u0939\u0947\u0902 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u0916\u0930\u0940\u0926\u093e \u0917\u092f\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0915\u092d\u0940 \u0915\u092d\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0910\u0938\u0947 \u0939\u093e\u0932\u093e\u0924 \u092a\u0948\u0926\u093e \u0939\u094b \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 (\u0938\u093e\u0932 2008 \u0915\u0940 \u0924\u0930\u0939) \u091c\u092c \u0915\u093e\u092b\u0940 \u0938\u092e\u092f \u0924\u0915 \u092c\u093e\u091c\u093e\u0930 \u0916\u0930\u093e\u092c \u0930\u0939\u0928\u0947 \u0915\u0940 \u0906\u0936\u0902\u0915\u093e \u0930\u0939\u0924\u0940 \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u0915\u0940 \u092a\u0942\u0902\u091c\u0940 \u0915\u094b \u0915\u092e \u0939\u094b\u0928\u0947 \u0938\u0947 \u092c\u091a\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u0947\u091c\u093f\u0902\u0917 \u0915\u0930\u0928\u0940 \u092a\u0921\u093c\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u092a\u0930 \u0939\u092e \u0906\u0917\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "", "\u092f\u0947 \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0948\u0938\u0947 \u092c\u0928\u0924\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0948\u0938\u0947 \u0939\u094b\u0924\u0940 \u0939\u0948, \u0916\u093e\u0938\u0915\u0930 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u092f\u0947 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u093e\u092b\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u0948\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u091c\u093e\u0928 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902 \u0915\u093f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0908 \u0938\u0947\u0915\u094d\u091f\u0930 \u0915\u0947 \u0915\u093e\u092b\u0940 \u0938\u093e\u0930\u0947 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u0915\u094b \u092e\u093f\u0932\u093e \u0915\u0930 \u092c\u0928\u0924\u093e \u0939\u0948 \u0914\u0930 \u092f\u0947 \u092a\u0942\u0930\u0940 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u093e \u092a\u094d\u0930\u0924\u093f\u0928\u093f\u0927\u093f\u0924\u094d\u0935 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u0936\u093e\u092e\u093f\u0932 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0915\u0941\u091b \u0916\u093e\u0938\u093f\u092f\u0924\u0947\u0902 \u0926\u0947\u0916\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u091c\u092c \u0924\u0915 \u0909\u0938\u092e\u0947\u0902 \u0935\u094b \u0916\u093e\u0938\u093f\u092f\u0924 \u092e\u094c\u091c\u0942\u0926 \u0930\u0939\u0924\u0940 \u0939\u0948\u0902 \u0924\u092c \u0924\u0915 \u0935\u094b \u0938\u094d\u091f\u0949\u0915 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u092c\u0928\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0909\u0928\u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0916\u093e\u0938\u093f\u092f\u0924 \u092d\u0940 \u0915\u092e \u0939\u094b \u0917\u092f\u0940 \u0924\u094b \u0909\u0928 \u0916\u093e\u0938\u093f\u092f\u0924\u094b\u0902 \u0935\u093e\u0932\u093e \u0926\u0942\u0938\u0930\u093e \u0938\u094d\u091f\u0949\u0915 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u0909\u0938\u0915\u0940 \u091c\u0917\u0939 \u0932\u0947 \u0932\u0947\u0924\u093e \u0939\u0948\u0964", "\u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0910\u0938\u0947 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u0915\u0940 \u090f\u0915 \u0932\u093f\u0938\u094d\u091f \u092c\u0928\u093e\u0908 \u091c\u093e\u0924\u0940 \u0939\u0948 \u091c\u094b \u0909\u0928 \u0916\u093e\u0938\u093f\u092f\u0924\u094b\u0902 \u0915\u0940 \u0938\u092d\u0940 \u0936\u0930\u094d\u0924\u0947\u0902 \u092a\u0942\u0930\u0940 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0939\u0930 \u0938\u094d\u091f\u0949\u0915 \u0915\u093e \u090f\u0915 \u0935\u091c\u0928 (weightage) \u0924\u092f \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0935\u091c\u0928 \u092f\u093e\u0928\u0940 \u0935\u0947\u091f\u0947\u091c \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0909\u0938 \u0938\u094d\u091f\u0949\u0915 \u0915\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u0926\u0942\u0938\u0930\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u0915\u093f\u0924\u0928\u093e \u092e\u0939\u0924\u094d\u0935 \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u0928\u093f\u092b\u094d\u091f\u0940 \u092e\u0947\u0902 \u00ccTC\u00a0 \u0915\u093e \u0935\u091c\u0928 \u092f\u093e\u0928\u0940 \u0935\u0947\u091f\u0947\u091c 7.6% \u0939\u0948, \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0947 \u0939\u0941\u0906 \u0915\u093f \u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u0947 \u092c\u0922\u093c\u0928\u0947 \u092f\u093e \u0917\u093f\u0930\u0928\u0947 \u092e\u0947\u0902 7.6% \u092d\u0942\u092e\u093f\u0915\u093e ITC \u0915\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0905\u092c \u0938\u0935\u093e\u0932 \u092f\u0947 \u0939\u0948 \u0915\u093f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u0935\u091c\u0928 \u092f\u093e\u0928\u0940 \u0935\u0947\u091f\u0947\u091c \u0924\u092f \u0915\u0948\u0938\u0947 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948?", "\u0907\u0938\u0915\u0947 \u0915\u0908 \u0924\u0930\u0940\u0915\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0932\u0947\u0915\u093f\u0928 \u092d\u093e\u0930\u0924\u0940\u092f \u092c\u093e\u091c\u093e\u0930 \u092f\u093e\u0928\u0940 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u091c\u093f\u0938 \u0924\u0930\u0940\u0915\u0947 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0909\u0938\u0947 \u092b\u094d\u0930\u0940 \u092b\u094d\u0932\u094b\u091f \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0948\u092a\u093f\u091f\u0932\u093e\u0907\u091c\u0947\u0936\u0928 ( Free Float Market Capitalisation)\u00a0 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u0915\u093e \u0935\u0947\u091f\u0947\u091c \u0909\u0928\u0915\u0947 \u092b\u094d\u0930\u0940 \u092b\u094d\u0932\u094b\u091f \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0948\u092a\u093f\u091f\u0932\u093e\u0907\u091c\u0947\u0936\u0928 \u092a\u0930 \u0924\u092f \u0939\u094b\u0924\u093e \u0939\u0948, \u091c\u093f\u0924\u0928\u093e \u092c\u0921\u093c\u093e \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0948\u092a\u093f\u091f\u0932\u093e\u0907\u091c\u0947\u0936\u0928 \u0909\u0924\u0928\u093e \u091c\u094d\u092f\u093e\u0926\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u0935\u091c\u0928\u0964", "\u092b\u094d\u0930\u0940 \u092b\u094d\u0932\u094b\u091f \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0948\u092a\u093f\u091f\u0932\u093e\u0907\u091c\u0947\u0936\u0928 \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092e\u094c\u091c\u0942\u0926 \u0909\u0938 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u094b \u0909\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0917\u0941\u0923\u093e \u0915\u0930 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0905\u0917\u0930 \u090f\u0915 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 100 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0938 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 50 \u0930\u0942\u092a\u092f\u0947 \u0939\u0948 \u0924\u094b \u0909\u0938 \u0936\u0947\u092f\u0930 \u0915\u0940 \u092b\u094d\u0930\u0940 \u092b\u094d\u0932\u094b\u091f \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0948\u092a\u093f\u091f\u0932\u093e\u0907\u091c\u0947\u0936\u0928 100x 50= 5000 \u0939\u094b\u0917\u093e\u0964", "\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u094b \u0932\u093f\u0916\u0924\u0947 \u0935\u0915\u094d\u0924 \u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u0947 50 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0932\u093f\u0938\u094d\u091f \u0914\u0930 \u0909\u0928\u0915\u0947 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u0935\u091c\u0928 \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u0915\u0941\u091b \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u0939\u0948..", "", "\u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f ITC\u00a0 \u0915\u093e \u0935\u0947\u091f\u0947\u091c \u0938\u092c \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0928\u093f\u092b\u094d\u091f\u0940 \u092a\u0930 \u0938\u092c\u0938\u0947 \u0905\u0927\u093f\u0915 \u0905\u0938\u0930 ITC \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u0915\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948 \u0914\u0930 \u0938\u092c\u0938\u0947 \u0915\u092e DLF \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u0915\u093e\u0964", "\u091c\u0948\u0938\u0947 \u0938\u0947\u0902\u0938\u0947\u0915\u094d\u0938 \u0914\u0930 \u0928\u093f\u092b\u094d\u091f\u0940 \u092a\u0942\u0930\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0926\u093f\u0936\u093e \u092c\u0924\u093e\u0924\u0947 \u0939\u0948\u0902 \u0909\u0938\u0940 \u0924\u0930\u0939 \u0905\u0932\u0917 \u0905\u0932\u0917 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u093e \u0939\u093e\u0932 \u092c\u0924\u093e\u0928\u0947 \u0935\u093e\u0932\u0947 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092d\u0940 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0928\u0915\u094b \u0938\u0947\u0915\u094d\u091f\u0930 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u092c\u0948\u0902\u0915 \u0928\u093f\u092b\u094d\u091f\u0940 \u092c\u0948\u0902\u0915\u093f\u0902\u0917 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u093e \u0939\u093e\u0932 \u092c\u0924\u093e\u0928\u0947 \u0935\u093e\u0932\u093e \u0938\u0947\u0915\u094d\u091f\u0930 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0939\u0948\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 CNX IT \u0928\u0947\u0936\u0928\u0932 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092e\u0947\u0902 IT \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u0939\u093e\u0932 \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 BSE \u0914\u0930 NSE \u0926\u094b\u0928\u094b\u0902 \u092a\u0930 \u0938\u0947\u0915\u094d\u091f\u0930 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0939\u0948\u0902 \u0914\u0930 \u092f\u0947 \u0928\u093f\u092b\u094d\u091f\u0940 \u0914\u0930 \u0938\u0947\u0902\u0938\u0947\u0915\u094d\u0938 \u0915\u0940 \u0924\u0930\u0939 \u0939\u0940 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "", "U provide best material thank\u2019s lot\nKeep uploading in hindi", "Will do, Bhavesh. Happy reading.", "Awesome information,I don,t think so that i can get such detailed informaion inside book also. Thanks a lot.\nRegards\nYesh", "Happy to note that, Yesh \ud83d\ude42", "Thank you so much for providing us the knowledge in such a simplified language. It is helpful even to understand the difficult concept of stock market very easily.", "In the varsity app, do we have hindi reading option.\nAs I can find it only on browser as of now.", "Please let me know.", "\u0928\u0939\u0940\u0902, \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0938\u093f\u0930\u094d\u092b \u0935\u0947\u092c \u092a\u0930 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948, \u0939\u092e \u091c\u0932\u094d\u0926 \u0939\u0947 \u0905\u092a\u094d\u092a \u092a\u0930 \u092d\u0940 \u0932\u093e\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902\u0917\u0947.", "I require some tips to buy share.", "\u0939\u092e \u090f\u0921\u0935\u093e\u0907\u0938 \u0914\u0930 \u091f\u093f\u092a\u094d\u0938 \u0928\u0939\u0940\u0902 \u0926\u0947\u0924\u0947, \u0906\u092a \u0935\u0930\u094d\u0938\u093f\u091f\u0940 \u092a\u095d \u0915\u0930 \u0915\u0941\u091b \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u091c\u093e\u0902\u091a \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0936\u0941\u0930\u0942 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/08/Ch-7-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/08/info.png", "https://zerodha.com/varsity/wp-content/uploads/2014/08/benchmark.png", "https://zerodha.com/varsity/wp-content/uploads/2014/08/trade.png", "https://zerodha.com/varsity/wp-content/uploads/2014/08/portfolio.png", "https://secure.gravatar.com/avatar/3580a655a96d2c872d5f2ec1555115c6?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ab93407452563cd2bcae62b545ce90e2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/590fcf975d9ca25ac7a48a41fdef5222?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/7e2dc06db2974853395ba8b383b501d3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e0f091258145032791df835fa6ed81d3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e\u093e\u0902\u0915</th>\n<th>\u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0928\u093e\u092e</th>\n<th>\u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940</th>\n<th>\u0935\u0947\u091f\u0947\u091c (%)</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>ITC\u0932\u093f\u092e\u093f\u091f\u0947\u0921</td>\n<td>\u0938\u093f\u0917\u0930\u0947\u091f</td>\n<td>7.6</td>\n</tr>\n<tr>\n<td>2</td>\n<td>ICICI\u092c\u0948\u0902\u0915 \u0932\u093f.</td>\n<td>\u092c\u0948\u0902\u0915</td>\n<td>6.55</td>\n</tr>\n<tr>\n<td>3</td>\n<td>HDFC\u0932\u093f.</td>\n<td>\u0939\u093e\u0909\u0938\u093f\u0902\u0917 \u092b\u093e\u0907\u0928\u0947\u0902\u0938</td>\n<td>6.45</td>\n</tr>\n<tr>\n<td>4</td>\n<td>\u0930\u093f\u0932\u093e\u092f\u0902\u0938 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0932\u093f.</td>\n<td>\u0930\u093f\u092b\u093e\u0907\u0928\u0930\u0940\u091c</td>\n<td>6.37</td>\n</tr>\n<tr>\n<td>5</td>\n<td>\u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938 \u0932\u093f.</td>\n<td>\u0915\u092e\u094d\u092a\u094d\u092f\u0942\u091f\u0930 \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930</td>\n<td>6.26</td>\n</tr>\n<tr>\n<td>6</td>\n<td>HDFC\u092c\u0948\u0902\u0915 \u0932\u093f.</td>\n<td>\u092c\u0948\u0902\u0915</td>\n<td>5.98</td>\n</tr>\n<tr>\n<td>7</td>\n<td>TCS\u0932\u093f.</td>\n<td>\u0915\u092e\u094d\u092a\u094d\u092f\u0942\u091f\u0930 \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930</td>\n<td>5.08</td>\n</tr>\n<tr>\n<td>8</td>\n<td>L&amp;T\u0932\u093f.</td>\n<td>\u0907\u0902\u091c\u0940\u0928\u093f\u092f\u0930\u093f\u0902\u0917</td>\n<td>4.72</td>\n</tr>\n<tr>\n<td>9</td>\n<td>\u091f\u093e\u091f\u093e \u092e\u094b\u091f\u0930\u094d\u0938\u0932\u093f.</td>\n<td>\u0911\u091f\u094b\u092e\u094b\u092c\u093e\u0907\u0932</td>\n<td>3.09</td>\n</tr>\n<tr>\n<td>10</td>\n<td>SBI\u0932\u093f.</td>\n<td>\u092c\u0948\u0902\u0915</td>\n<td>2.9</td>\n</tr>\n<tr>\n<td>11</td>\n<td>ONGC\u0932\u093f.</td>\n<td>\u0911\u092f\u0932 \u090f\u0915\u094d\u0938\u092a\u094d\u0932\u094b\u0930\u0947\u0936\u0928</td>\n<td>2.73</td>\n</tr>\n<tr>\n<td>12</td>\n<td>\u090f\u0915\u094d\u0938\u093f\u0938 \u092c\u0948\u0902\u0915 \u0932\u093f.</td>\n<td>\u092c\u0948\u0902\u0915</td>\n<td>2.5</td>\n</tr>\n<tr>\n<td>13</td>\n<td>\u0938\u0928 \u092b\u093e\u0930\u094d\u092e\u093e\u0932\u093f.</td>\n<td>\u092b\u093e\u0930\u094d\u092e\u093e\u0938\u094d\u092f\u0941\u091f\u093f\u0915\u0932</td>\n<td>2.29</td>\n</tr>\n<tr>\n<td>14</td>\n<td>M&amp;M\u0932\u093f.</td>\n<td>\u0911\u091f\u094b\u092e\u094b\u092c\u093e\u0907\u0932</td>\n<td>2.13</td>\n</tr>\n<tr>\n<td>15</td>\n<td>HUL\u0932\u093f.</td>\n<td>FMCG</td>\n<td>1.87</td>\n</tr>\n<tr>\n<td>16</td>\n<td>\u092d\u093e\u0930\u0924\u0940 \u090f\u092f\u0930\u091f\u0947\u0932\u0932\u093f.</td>\n<td>\u091f\u0947\u0932\u0940\u0915\u0949\u092e</td>\n<td>1.7</td>\n</tr>\n<tr>\n<td>17</td>\n<td>HCL\u091f\u0947\u0915\u094d\u0928\u094b\u0932\u0949\u091c\u093f\u0938 \u0932\u093f.</td>\n<td>\u0915\u092e\u094d\u092a\u094d\u092f\u0942\u091f\u0930 \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930</td>\n<td>1.61</td>\n</tr>\n<tr>\n<td>18</td>\n<td>\u091f\u093e\u091f\u093e \u0938\u094d\u091f\u0940\u0932 \u0932\u093f.</td>\n<td>\u092e\u0947\u091f\u0932-\u0938\u094d\u091f\u0940\u0932</td>\n<td>1.42</td>\n</tr>\n<tr>\n<td>19</td>\n<td>\u0915\u094b\u091f\u0915 \u092e\u0939\u093f\u0928\u094d\u0926\u094d\u0930\u093e \u092c\u0948\u0902\u0915 \u0932\u093f.</td>\n<td>\u092c\u0948\u0902\u0915</td>\n<td>1.4</td>\n</tr>\n<tr>\n<td>20</td>\n<td>\u0938\u0947\u0938\u093e \u0938\u094d\u091f\u0930\u0932\u093e\u0907\u091f \u0932\u093f.</td>\n<td>\u0916\u0928\u0928</td>\n<td>1.38</td>\n</tr>\n<tr>\n<td>21</td>\n<td>\u0921\u0949 \u0930\u0947\u0921\u094d\u0921\u0940\u091c \u0932\u0948\u092c \u0932\u093f.</td>\n<td>\u092b\u093e\u0930\u094d\u092e\u093e</td>\n<td>1.37</td>\n</tr>\n<tr>\n<td>22</td>\n<td>\u0935\u093f\u092a\u094d\u0930\u094b \u0932\u093f.</td>\n<td>\u0915\u092e\u094d\u092a\u094d\u092f\u0941\u091f\u0930 \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930</td>\n<td>1.37</td>\n</tr>\n<tr>\n<td>23</td>\n<td>\u092e\u093e\u0930\u0942\u0924\u093f \u0938\u0941\u091c\u0941\u0915\u0940 \u0907\u0902\u0921\u093f\u092f\u093e \u0932\u093f.</td>\n<td>\u0911\u091f\u094b</td>\n<td>1.29</td>\n</tr>\n<tr>\n<td>24</td>\n<td>\u091f\u0947\u0915 \u092e\u0939\u093f\u0928\u094d\u0926\u094d\u0930\u093e \u0932\u093f.</td>\n<td>\u0915\u092e\u094d\u092a\u094d\u092f\u0941\u091f\u0930 \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930</td>\n<td>1.24</td>\n</tr>\n<tr>\n<td>25</td>\n<td>\u0939\u0940\u0930\u094b \u092e\u094b\u091f\u094b\u0915\u0949\u0930\u094d\u092a \u0932\u093f.</td>\n<td>\u0911\u091f\u094b</td>\n<td>1.2</td>\n</tr>\n<tr>\n<td>26</td>\n<td>NTPC\u0932\u093f.</td>\n<td>\u092a\u093e\u0935\u0930</td>\n<td>1.15</td>\n</tr>\n<tr>\n<td>27</td>\n<td>\u092a\u093e\u0935\u0930 \u0917\u094d\u0930\u093f\u0921 \u0915\u0949\u0930\u094d\u092a \u0932\u093f.</td>\n<td>\u092a\u093e\u0935\u0930</td>\n<td>1.13</td>\n</tr>\n<tr>\n<td>28</td>\n<td>\u090f\u0936\u093f\u092f\u0928 \u092a\u0947\u0928\u094d\u091f\u094d\u0938 \u0932\u093f.</td>\n<td>\u092a\u0947\u0928\u094d\u091f\u094d\u0938</td>\n<td>1.1</td>\n</tr>\n<tr>\n<td>29</td>\n<td>\u0932\u094d\u092f\u0942\u092a\u093f\u0928 \u0932\u093f.</td>\n<td>\u092b\u093e\u0930\u094d\u092e\u093e</td>\n<td>1.09</td>\n</tr>\n<tr>\n<td>30</td>\n<td>\u092c\u091c\u093e\u091c \u0911\u091f\u094b \u0932\u093f.</td>\n<td>\u0911\u091f\u094b</td>\n<td>1.07</td>\n</tr>\n<tr>\n<td>31</td>\n<td>\u0939\u093f\u0928\u094d\u0921\u093e\u0932\u0915\u094b \u0907\u0928\u094d\u0921\u0938\u094d\u091f\u094d\u0930\u0940\u091c \u0932\u093f.</td>\n<td>\u092e\u0947\u091f\u0932-\u0905\u0932\u094d\u092f\u0941\u092e\u093f\u0928\u093f\u092f\u092e</td>\n<td>0.95</td>\n</tr>\n<tr>\n<td>32</td>\n<td>\u0905\u0932\u094d\u091f\u094d\u0930\u093e\u091f\u0947\u0915 \u0938\u0940\u092e\u0947\u0928\u094d\u091f\u094d\u0938 \u0932\u093f.</td>\n<td>\u0938\u0940\u092e\u0947\u0928\u094d\u091f</td>\n<td>0.95</td>\n</tr>\n<tr>\n<td>33</td>\n<td>\u0907\u0928\u094d\u0921\u0938\u0907\u0902\u0921 \u092c\u0948\u0902\u0915 \u0932\u093f.</td>\n<td>\u092c\u0948\u0902\u0915</td>\n<td>0.94</td>\n</tr>\n<tr>\n<td>34</td>\n<td>\u0915\u094b\u0932 \u0907\u0902\u0921\u093f\u092f\u093e \u0932\u093f.</td>\n<td>\u0916\u0928\u0928</td>\n<td>0.93</td>\n</tr>\n<tr>\n<td>35</td>\n<td>\u0938\u093f\u092a\u094d\u0932\u093e \u0932\u093f.</td>\n<td>\u092b\u093e\u0930\u094d\u092e\u093e</td>\n<td>0.89</td>\n</tr>\n<tr>\n<td>36</td>\n<td>BHEL\u0932\u093f.</td>\n<td>\u092c\u093f\u091c\u0932\u0940 \u0909\u092a\u0915\u0930\u0923</td>\n<td>0.79</td>\n</tr>\n<tr>\n<td>37</td>\n<td>\u0917\u094d\u0930\u093e\u0938\u093f\u092e\u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940\u091c \u0932\u093f.</td>\n<td>\u0938\u0940\u092e\u0947\u0928\u094d\u091f</td>\n<td>0.79</td>\n</tr>\n<tr>\n<td>38</td>\n<td>\u0917\u0947\u0932(\u0907\u0902\u0921\u093f\u092f\u093e)\u0932\u093f.</td>\n<td>\u0917\u0948\u0938</td>\n<td>0.78</td>\n</tr>\n<tr>\n<td>39</td>\n<td>IDFC\u0932\u093f.</td>\n<td>\u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0938\u0930\u094d\u0935\u093f\u0938\u0947\u091c</td>\n<td>0.74</td>\n</tr>\n<tr>\n<td>40</td>\n<td>\u0915\u0947\u0930\u094d\u0928 \u0907\u0902\u0921\u093f\u092f\u093e \u0932\u093f.</td>\n<td>\u0911\u092f\u0932 \u090f\u0915\u094d\u0938\u092a\u094d\u0932\u094b\u0930\u0947\u0936\u0928</td>\n<td>0.72</td>\n</tr>\n<tr>\n<td>41</td>\n<td>\u092f\u0942\u0928\u093e\u0907\u091f\u0947\u0921 \u0938\u094d\u092a\u093f\u0930\u093f\u091f\u0940\u091c\u0932\u093f.</td>\n<td>\u0921\u093f\u0938\u094d\u091f\u0940\u0932\u0930\u0940</td>\n<td>0.7</td>\n</tr>\n<tr>\n<td>42</td>\n<td>\u091f\u093e\u091f\u093e \u092a\u093e\u0935\u0930 \u0915\u0902.\u0932\u093f.</td>\n<td>\u092a\u093e\u0935\u0930</td>\n<td>0.68</td>\n</tr>\n<tr>\n<td>43</td>\n<td>\u092c\u0948\u0902\u0915 \u0911\u092b \u092c\u0921\u093c\u094c\u0926\u093e</td>\n<td>\u092c\u0948\u0902\u0915</td>\n<td>0.63</td>\n</tr>\n<tr>\n<td>44</td>\n<td>\u0905\u092e\u094d\u092c\u0941\u091c\u093e \u0938\u0940\u092e\u0947\u0902\u091f\u094d\u0938 \u0932\u093f.</td>\n<td>\u0938\u0940\u092e\u0947\u0928\u094d\u091f</td>\n<td>0.61</td>\n</tr>\n<tr>\n<td>45</td>\n<td>BPCL</td>\n<td>\u0930\u093f\u092b\u093e\u0907\u0928\u0930\u0940\u091c</td>\n<td>0.58</td>\n</tr>\n<tr>\n<td>46</td>\n<td>\u092a\u0902\u091c\u093e\u092c \u0928\u0947\u0936\u0928\u0932 \u092c\u0948\u0902\u0915</td>\n<td>\u092c\u0948\u0902\u0915</td>\n<td>0.55</td>\n</tr>\n<tr>\n<td>47</td>\n<td>NMDC\u0932\u093f.</td>\n<td>\u0916\u0928\u0928</td>\n<td>0.52</td>\n</tr>\n<tr>\n<td>48</td>\n<td>ACC\u0932\u093f.</td>\n<td>\u0938\u0940\u092e\u0947\u0902\u091f</td>\n<td>0.5</td>\n</tr>\n<tr>\n<td>49</td>\n<td>\u091c\u093f\u0928\u094d\u0926\u0932 \u092a\u0949\u0935\u0930 \u090f\u0902\u0921 \u0938\u094d\u091f\u0940\u0932</td>\n<td>\u0938\u094d\u091f\u0940\u0932</td>\n<td>0.38</td>\n</tr>\n<tr>\n<td>50</td>\n<td>DLF\u0932\u093f.</td>\n<td>\u0915\u0902\u0938\u094d\u091f\u094d\u0930\u0915\u094d\u0936\u0928</td>\n<td>0.34</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "9. \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932", "text": ["\u091c\u092c \u0915\u094b\u0908 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u092f\u093e \u0938\u094c\u0926\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948, \u0909\u0938\u0915\u0947 \u0938\u093e\u092e\u0928\u0947 3 \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092f\u0947 \u0924\u0940\u0928\u094b\u0902 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092e\u0947\u0902 \u0918\u0941\u0938\u0928\u0947 \u0915\u0947 \u0930\u093e\u0938\u094d\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0928\u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u0906\u092a \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u091a\u0940\u091c\u0947\u0902 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u091c\u0948\u0938\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0916\u0930\u0940\u0926 \u092c\u093f\u0915\u094d\u0930\u0940, \u0905\u092a\u0928\u0947 \u092b\u093e\u092f\u0926\u0947-\u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u093e \u0939\u093f\u0938\u093e\u092c \u0915\u093f\u0924\u093e\u092c \u0930\u0916\u0928\u093e, \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0940 \u091a\u093e\u0932 \u092a\u0930 \u0928\u091c\u093c\u0930 \u0930\u0916\u0928\u093e, \u0916\u092c\u0930\u094b\u0902 \u092a\u0930 \u0928\u091c\u093c\u0930 \u0930\u0916\u0928\u093e, \u0905\u092a\u0928\u0947 \u092b\u0902\u0921 \u092f\u093e \u092a\u0948\u0938\u094b\u0902 \u0915\u094b \u092e\u0948\u0928\u0947\u091c \u0915\u0930\u0928\u093e, \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0926\u0947\u0916\u0928\u093e \u0914\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u0924\u0930\u0940\u0915\u094b\u0902 \u092f\u093e \u091f\u0942\u0932\u094d\u0938 (tools) \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u0928\u093e\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u0939\u092e \u0906\u092a\u0915\u094b \u0915\u093e\u0907\u091f (Kite) \u092f\u093e \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0926\u0942\u0938\u0930\u0947 \u0935\u0947\u092c \u092a\u094d\u0932\u0947\u091f\u092b\u0949\u0930\u094d\u092e \u0938\u0947 \u0906\u092a\u0915\u094b \u092a\u0930\u093f\u091a\u093f\u0924 \u0915\u0930\u093e\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u0905\u092a\u0928\u0947 \u0935\u0947\u092c \u092c\u094d\u0930\u093e\u0909\u091c\u0930 (Web Browser) \u092e\u0947\u0902 \u0938\u0940\u0927\u0947-\u0938\u0940\u0927\u0947 URL \u092f\u093e\u0928\u0940 \u0935\u0947\u092c \u090f\u0921\u094d\u0930\u0947\u0938 \u092d\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0947\u0930\u094b\u0927\u093e \u0915\u093e\u0907\u091f \u0915\u0947 \u0932\u093f\u090f URL \u0939\u0948 kite.zerodha.com\u0964 \u092f\u0947 \u0915\u093e\u092b\u0940 \u0938\u0940\u0927\u093e-\u0938\u093e\u0927\u093e \u0910\u092a\u094d\u0932\u0940\u0915\u0947\u0936\u0928 \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u091c\u094d\u092f\u093e\u0926\u093e\u0924\u0930 \u0915\u093e\u092e \u0926\u093f\u090f \u0917\u090f \u092e\u0947\u0928\u0942 \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u093c\u093e\u0939\u093f\u0930 \u0938\u0940 \u092c\u093e\u0924 \u0939\u0948 \u0915\u093f \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092e\u0947\u0902 \u092a\u0939\u0941\u0902\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u091c\u0930\u094b\u0927\u093e \u0915\u093e \u092f\u093e \u0915\u093f\u0938\u0940 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u093e \u0905\u0915\u093e\u0909\u0902\u091f \u0939\u094b\u0928\u093e \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964", "\u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0906\u092a\u0915\u094b \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u0915\u093e\u092e \u0915\u0940 \u0938\u0941\u0935\u093f\u0927\u093e\u090f\u0902 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0939\u092e \u092f\u0939\u093e\u0901 \u092a\u0930 \u0915\u0941\u091b \u090f\u0915\u0926\u092e \u091c\u093c\u0930\u0942\u0930\u0940 \u0938\u0941\u0935\u093f\u0927\u093e\u0913\u0902 \u0915\u094b \u0938\u092e\u091d\u0947\u0902\u0917\u0947 \u0914\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0915\u0947 \u0935\u094d\u092f\u0935\u0939\u093e\u0930\u093f\u0915 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e \u092f\u0939\u093e\u0901 \u092a\u0930 \u0926\u094b \u0915\u093e\u092e \u0915\u0930\u0947\u0902\u0917\u0947\u2026", "", "\u0907\u0938\u0915\u094b \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0914\u0930 \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e \u091c\u0947\u0930\u094b\u0927\u093e \u0915\u0947 \u0915\u093e\u0907\u091f (Kite) \u092a\u094d\u0932\u0947\u091f\u092b\u0949\u0930\u094d\u092e \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092e\u0947\u0902 \u0906\u092a\u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0905\u0915\u093e\u0909\u0902\u091f \u0915\u0940 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u092f\u0939 \u090f\u0915 \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091c\u0917\u0939 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u092c\u094d\u0930\u094b\u0915\u0930 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0932\u0949\u0917\u0907\u0928 \u0915\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u094b \u0915\u093e\u092b\u0940 \u0915\u0921\u093c\u093e \u0930\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u0947 \u0924\u0939\u0924 \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u093e \u092a\u093e\u0938\u0935\u0930\u094d\u0921 \u092d\u0930\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948 \u0914\u0930 \u0926\u094b \u0938\u0940\u0915\u094d\u0930\u0947\u091f \u092f\u093e \u0917\u0941\u092a\u094d\u0924 \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u0947 \u091c\u0935\u093e\u092c \u0926\u0947\u0928\u0947 \u092a\u0921\u093c\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0928\u0915\u093e \u091c\u0935\u093e\u092c \u0906\u092a\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0915\u094b\u0908 \u0928\u0939\u0940\u0902 \u091c\u093e\u0928\u0924\u093e\u0964 \u0907\u0938 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u0947 \u0926\u094b \u091a\u093f\u0924\u094d\u0930 \u0939\u092e \u0928\u0940\u091a\u0947 \u0926\u0947 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "", "\u091c\u092c \u0906\u092a \u0907\u0938 \u092a\u094d\u0932\u0947\u091f\u092b\u0949\u0930\u094d\u092e \u092a\u0930 \u0932\u0949\u0917\u0907\u0928 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0940 \u092a\u0938\u0902\u0926 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u090f\u0915 \u0932\u093f\u0938\u094d\u091f \u092e\u0947\u0902 \u0921\u093e\u0932\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948, \u091c\u093f\u0938\u0947 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093e\u091a (Market Watch) \u0915\u093e \u0928\u093e\u092e \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0906\u092a \u092f\u0942\u0902 \u092e\u093e\u0928 \u0932\u093f\u091c\u093f\u090f \u0915\u093f \u0906\u092a\u0915\u094b \u0916\u093e\u0932\u0940 \u0938\u094d\u0932\u0947\u091f \u0926\u0940 \u0917\u0908 \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u0906\u092a \u0905\u092a\u0928\u0940 \u092a\u0938\u0902\u0926 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0932\u093f\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915 \u092c\u093e\u0930 \u0906\u092a\u0928\u0947 \u092f\u0947 \u0932\u093f\u0938\u094d\u091f \u092c\u0928\u093e \u0932\u0940 \u0924\u094b \u0906\u092a \u0909\u0928 \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902 \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u0938\u094c\u0926\u0947 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092a\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915 \u0916\u093e\u0932\u0940 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093e\u091a \u0915\u0948\u0938\u093e \u0926\u093f\u0916\u0924\u093e \u0939\u0948, \u0909\u0938\u0915\u093e \u0938\u0948\u0902\u092a\u0932\u092f\u093e \u0928\u092e\u0942\u0928\u093e \u0928\u0940\u091a\u0947 \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948 ( \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0932\u0949\u0917\u0907\u0928 \u0915\u0930\u0924\u0947 \u0939\u0940 \u0906\u092a\u0915\u094b \u092f\u0939\u0940 \u0938\u094d\u0915\u094d\u0930\u0940\u0928 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u0940 \u0939\u0948)", "", "", "", "\u0905\u092a\u0928\u0947 \u092a\u0939\u0932\u0947 \u0915\u093e\u092e \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0939\u092e \u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0947 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093e\u091a \u092e\u0947\u0902 ITC \u0915\u093e \u0936\u0947\u092f\u0930 \u0932\u094b\u0921 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0907\u0938\u0915\u094b \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u0930\u094d\u091a \u092c\u093e\u0930 (Search Bar ) \u092e\u0947\u0902 \u0939\u092e\u0947\u0902 ITC \u0932\u093f\u0916\u0928\u093e \u0939\u094b\u0917\u093e \u0914\u0930 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0939\u092e\u0947\u0902 \u092f\u0947 \u0936\u0947\u092f\u0930 \u0905\u0932\u0917 \u0905\u0932\u0917 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c- NSE \u0914\u0930 BSE \u092a\u0930 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0917\u093e\u0964", "", "", "\u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0906\u092a \u092a\u094d\u0932\u0938 \u092f\u093e \u091c\u094b\u0921\u093c \u0915\u0947 \u091a\u093f\u0939\u094d\u0928 \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0947\u0902\u0917\u0947 \u0924\u094b \u092f\u0947 \u0936\u0947\u092f\u0930 \u0905\u092a\u0928\u0947 \u0906\u092a \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093e\u091a \u092e\u0947\u0902 \u091c\u0941\u0921\u093c \u091c\u093e\u090f\u0917\u093e\u0964", "", "", "\u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093e\u091a \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0915\u0947 \u0905\u0902\u0924\u093f\u092e \u091f\u094d\u0930\u0947\u0921 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u092c\u0926\u0932\u093e\u0935 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0917\u093e\u0964", "", "\u0907\u0938 \u091c\u0917\u0939 \u092a\u0930 \u0939\u092e\u0947\u0902 \u0915\u0941\u091b \u0914\u0930 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u0940 \u091c\u093c\u0930\u0942\u0930\u0924 \u092a\u0921\u093c\u0947\u0917\u0940\u0964", "\u0906\u092a\u0915\u094b \u092f\u0947 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u091f\u0948\u092c ( Market Depth Tab) \u0915\u0947 \u0905\u0902\u0926\u0930 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u0940\u0964 \u0905\u0917\u0930 \u0906\u092a \u0936\u0947\u092f\u0930 \u0915\u0947 \u0928\u093e\u092e \u0915\u0947 \u090a\u092a\u0930 \u0905\u092a\u0928\u093e \u092e\u093e\u0909\u0938 (mouse) \u092f\u093e \u0915\u0930\u094d\u0938\u0930 (Cursor) \u0932\u0947 \u091c\u093e\u090f\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b buy, sell, market depth \u0914\u0930 stock information \u0915\u0947 \u091f\u0948\u092c \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0902\u0917\u0947\u0964 \u0905\u0917\u0930 \u0906\u092a market depth \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u090a\u092a\u0930 \u092c\u0924\u093e\u0908 \u0917\u0908 \u091c\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u0940\u0964 \u0938\u093e\u0925 \u0939\u0940 \u0906\u092a\u0915\u094b \u092a\u093e\u0902\u091a \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u0940 \u092c\u093f\u0921 (Bid) \u0914\u0930 \u0906\u0938\u094d\u0915 (Ask) \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0917\u0940\u0964 \u092c\u093f\u0921 \u0906\u092a\u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0915\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0909\u0938 \u0936\u0947\u092f\u0930 \u0915\u093e \u0916\u0930\u0940\u0926\u093e\u0930 \u092e\u094c\u091c\u0942\u0926 \u0939\u0948\u0964 \u0938\u092c\u0938\u0947 \u090a\u092a\u0930 \u0935\u093e\u0932\u0940 \u092c\u093f\u0921 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0935\u094b \u0938\u092c\u0938\u0947 \u090a\u0902\u091a\u0940 \u0915\u0940\u092e\u0924 \u0939\u0948 \u091c\u093f\u0938\u092a\u0930 \u0916\u0930\u0940\u0926\u093e\u0930 \u092e\u094c\u091c\u0942\u0926 \u0939\u0948\u0964 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0906\u0938\u094d\u0915 \u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0947 \u0939\u0948 \u0915\u093f \u092f\u0947 \u0935\u094b \u0938\u092c\u0938\u0947 \u0928\u0940\u091a\u0947 \u0915\u0940\u092e\u0924 \u0939\u0948 \u091c\u093f\u0938\u092a\u0930 \u092c\u093f\u0915\u0935\u093e\u0932- \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u2013 \u092e\u094c\u091c\u0942\u0926 \u0939\u0948\u0964 \u0906\u092a \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u0940 \u0906\u0938\u094d\u0915 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0938\u092c\u0938\u0947 \u090a\u092a\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u092c\u0938\u0947 \u0915\u092e \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u0935\u094b \u0915\u0940\u092e\u0924 \u092c\u0922\u093c\u0924\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u0938\u0947 \u092c\u093f\u0921 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u0940 \u0915\u093f \u0938\u092c\u0938\u0947 \u090a\u092a\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948 \u0914\u0930 \u091c\u0948\u0938\u0947 \u091c\u0948\u0938\u0947 \u0906\u092a \u0928\u0940\u091a\u0947 \u091c\u093e\u090f\u0902\u0917\u0947, \u0915\u0940\u092e\u0924 \u0915\u092e \u0939\u094b\u0924\u0940 \u091c\u093e\u090f\u0917\u0940\u0964", "", "", "", "\u091c\u0948\u0938\u093e \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f ITC \u0915\u093e \u0932\u093e\u0938\u094d\u091f \u091f\u094d\u0930\u0947\u0921\u0947\u0921 \u092a\u094d\u0930\u093e\u0907\u0938 \u092f\u093e\u0928\u093f LTP 262 \u0930\u0941\u092a\u092f\u0947 25 \u092a\u0948\u0938\u0947 \u0939\u0948\u0964 \u092f\u0947 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u092c\u0902\u0926 \u092d\u093e\u0935 (263.30 \u0930\u0941\u092a\u092f\u0947) \u0938\u0947 0.40% \u0928\u0940\u091a\u0947 \u0939\u0948\u0964 \u0906\u091c \u0936\u0947\u092f\u0930 265 \u0930\u0941\u092a\u092f\u0947 90 \u092a\u0948\u0938\u0947 \u092a\u0930 \u0916\u0941\u0932\u093e \u0914\u0930 \u0906\u091c \u0915\u0940 \u0905\u0927\u093f\u0915\u0924\u092e \u0915\u0940\u092e\u0924 265 \u0930\u0941\u092a\u092f\u0947 90 \u092a\u0948\u0938\u0947 \u0914\u0930 \u0928\u094d\u092f\u0942\u0928\u0924\u092e \u0915\u0940\u092e\u0924 262 \u0930\u0941\u092a\u092f\u0947 15 \u092a\u0948\u0938\u0947 \u0939\u0948\u0964 \u0906\u091c \u0936\u0947\u092f\u0930 \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e 27 \u0932\u093e\u0916 \u0936\u0947\u092f\u0930 \u0939\u0948\u0964", "", "\u0939\u092e\u0947\u0902 ITC \u0915\u093e \u090f\u0915 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u0948\u0964 ITC \u0939\u092e\u093e\u0930\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092a\u0930 \u0939\u0948\u0964 \u0939\u092e\u0947\u0902 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f ITC \u0939\u092e\u0947\u0902 261 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u091c\u094b \u0915\u093f \u0932\u093e\u0938\u094d\u091f \u091f\u094d\u0930\u0947\u0921\u0947\u0921 \u092a\u094d\u0930\u093e\u0907\u0938 \u0938\u0947 1 \u0930\u0941\u092a\u092f\u0947 25 \u092a\u0948\u0938\u0947 \u0915\u092e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u092f\u0947 \u090f\u0915 \u0905\u091a\u094d\u091b\u0940 \u0916\u0930\u0940\u0926 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u092c\u093e\u092f \u0911\u0930\u094d\u0921\u0930 \u092b\u0949\u0930\u094d\u092e (Buy Order Form) \u092d\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "", "", "\u092f\u0947 \u0911\u0930\u094d\u0921\u0930 \u092b\u0949\u0930\u094d\u092e \u092a\u0939\u0932\u0947 \u0938\u0947 \u092d\u0930\u0940 \u0939\u0941\u0908 \u0915\u0941\u091b \u0938\u0942\u091a\u0928\u093e\u0913\u0902 \u0915\u0947 \u0938\u093e\u0925 \u0906\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u092d\u0940 \u092d\u0930\u0940 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0939\u092e\u0947\u0902 \u0905\u092a\u0928\u0940 \u091c\u093c\u0930\u0942\u0930\u0924 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092c\u0926\u0932\u093e\u0935 \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0926\u093f\u090f \u0939\u0941\u090f \u0921\u094d\u0930\u0949\u092a \u0921\u093e\u0909\u0928 (Drop Down) \u0935\u093f\u0915\u0932\u094d\u092a\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u092a\u0939\u0932\u093e \u0926\u0947\u0916\u093f\u090f, \u0909\u0938\u092e\u0947\u0902 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0947 \u0928\u093e\u092e \u0915\u0947 \u0906\u0917\u0947 NSE \u092d\u0930\u093e \u0939\u094b\u0917\u093e\u0964 \u0926\u0942\u0938\u0930\u0940 \u091a\u0940\u091c\u093c \u0939\u094b\u0917\u0940 \u2013 \u0911\u0930\u094d\u0921\u0930 \u091f\u093e\u0907\u092a (Order Type)\u0964 \u0907\u0938 \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0928\u0947 \u092a\u0930 \u0906\u092a\u0915\u094b 4 \u0935\u093f\u0915\u0932\u094d\u092a \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0902\u0917\u0947\u0964", "", "\u0906\u0907\u090f \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0907\u0928 \u0935\u093f\u0915\u094d\u0932\u092a\u094b\u0902 \u0915\u093e \u092e\u0924\u0932\u092c \u0915\u094d\u092f\u093e \u0939\u0948\u0964", "", "\u0906\u092a \u0932\u093f\u092e\u093f\u091f \u0911\u0930\u094d\u0921\u0930 (Limit Order) \u0924\u092c \u091a\u0941\u0928\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u0906\u092a \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092e\u0941\u091d\u0947 \u0936\u0947\u092f\u0930 \u0907\u0938\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u091a\u093e\u0939\u093f\u090f\u0964 \u0939\u092e\u093e\u0930\u0947 \u0905\u092a\u0928\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0932\u093e\u0938\u094d\u091f \u091f\u094d\u0930\u0947\u0921\u0947\u0921 \u092a\u094d\u0930\u093e\u0907\u0938 (LTP) 262 \u0930\u0941\u092a\u092f\u0947 25 \u092a\u0948\u0938\u0947 \u0939\u0948 \u0914\u0930 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0939\u092e 261 \u0930\u0941\u092a\u092f\u0947 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0924\u094b \u0905\u092c \u0939\u092e\u093e\u0930\u0940 \u0915\u0940\u092e\u0924 \u0924\u092f \u0939\u0948, \u0924\u094b \u0939\u092e \u0932\u093f\u092e\u093f\u091f \u0911\u0930\u094d\u0921\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0921\u093e\u0932\u0947\u0902\u0917\u0947\u0964 \u0907\u0938\u092e\u0947\u0902 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u090f\u0915 \u0939\u0940 \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0917\u093f\u0930 \u0915\u0930 261 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u0928\u0939\u0940\u0902 \u0906\u0908, \u0924\u094b \u0906\u092a\u0915\u094b \u0936\u0947\u092f\u0930 \u0928\u0939\u0940\u0902 \u092e\u093f\u0932\u0947\u0902\u0917\u0947\u0964", "", "\u0906\u092a \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 (Market Order) \u092d\u0940 \u0921\u093e\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u0906\u092a\u0915\u0947 \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u094b\u0908 \u0915\u0940\u092e\u0924 \u0924\u092f \u0928\u0939\u0940\u0902 \u0939\u0948 \u0914\u0930 \u0906\u092a \u0909\u0938\u0947 \u092c\u093e\u091c\u093c\u093e\u0930 \u092d\u093e\u0935 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0905\u0917\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0915\u094b\u0908 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948 \u0924\u094b \u0906\u092a\u0915\u094b \u0936\u0947\u092f\u0930 \u0924\u0941\u0930\u0902\u0924 \u092e\u093f\u0932 \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0906\u092a\u0915\u094b ITC \u0915\u093e \u0936\u0947\u092f\u0930 \u0905\u092a\u0928\u0947 \u0932\u093e\u0938\u094d\u091f \u091f\u094d\u0930\u0947\u0921\u0947\u0921 \u092a\u094d\u0930\u093e\u0907\u0938 (LTP) 262 \u0930\u0941\u092a\u092f\u0947 25 \u092a\u0948\u0938\u0947 \u0915\u0947 \u0906\u0938 \u092a\u093e\u0938 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u0947 \u0911\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c\u0915\u0930 265 \u0930\u0941\u092a\u092f\u0947 \u092a\u0939\u0941\u0902\u091a \u091a\u0941\u0915\u0940 \u0939\u094b, \u0924\u094b \u0910\u0938\u0947 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b ITC \u0915\u093e \u0936\u0947\u092f\u0930 265 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u092e\u093f\u0932\u0947\u0917\u093e\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0947 \u0939\u0948 \u0915\u093f \u091c\u092c \u0906\u092a \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a\u0915\u094b \u092f\u0947 \u092a\u0924\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0915\u093f \u0936\u0947\u092f\u0930 \u0915\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092e\u093f\u0932\u0947\u0917\u093e\u0964 \u0905\u0917\u0930 \u0906\u092a \u090f\u0915\u094d\u091f\u093f\u0935 \u091f\u094d\u0930\u0947\u0921\u0930 (Active Trader) \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u092f\u0947 \u0916\u0924\u0930\u0928\u093e\u0915 \u0938\u094d\u0925\u093f\u0924\u0940 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "", "\u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0911\u0930\u094d\u0921\u0930 \u0906\u092a\u0915\u094b \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u092c\u0941\u0930\u0940 \u092a\u0930\u093f\u0938\u094d\u0925\u093f\u0924\u093f\u092f\u094b\u0902 \u0938\u0947 \u092c\u091a\u093e\u0924\u093e \u0939\u0948\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0906\u092a\u0928\u0947 ITC \u0915\u093e \u0936\u0947\u092f\u0930 262 \u0930\u0941\u092a\u092f\u0947 25 \u092a\u0948\u0938\u0947 \u092a\u0930 \u0907\u0938 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0947 \u0938\u093e\u0925 \u0916\u0930\u0940\u0926\u093e \u0915\u093f \u0936\u0947\u092f\u0930 275 \u0930\u0941\u092a\u092f\u0947 \u0924\u0915 \u091c\u093e\u090f\u0917\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0917\u093f\u0930\u0928\u0947 \u0932\u0917\u0940 \u0924\u094b? \u0939\u092e \u0905\u092a\u0928\u0947 \u0906\u092a\u0915\u094b \u0928\u0941\u0915\u0938\u093e\u0928 \u0938\u0947 \u092c\u091a\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0905\u0917\u0930 \u0939\u092e \u092f\u0947 \u0924\u092f \u0915\u0930 \u0932\u0947\u0902 \u0915\u093f \u0939\u092e \u091c\u094d\u092f\u093e\u0926\u093e \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0915\u093f\u0924\u0928\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u0905\u092a\u0928\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a 255 \u0930\u0941\u092a\u092f\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0947 \u0939\u0941\u0906 \u0915\u093f \u0906\u092a\u0928\u0947 262 \u0930\u0941\u092a\u092f\u0947 25 \u092a\u0948\u0938\u0947 \u092a\u0930 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u093e \u0914\u0930 \u0906\u092a 7 \u0930\u0941\u092a\u092f\u0947 \u0924\u0915 \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 (255 \u0930\u0941\u092a\u092f\u0947) \u0932\u0947\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 255 \u0930\u0941\u092a\u092f\u0947 \u0924\u0915 \u0917\u093f\u0930 \u091c\u093e\u0924\u0940 \u0939\u0948, \u0924\u094b \u0906\u092a\u0915\u093e \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0911\u0930\u094d\u0921\u0930 \u090f\u0915\u094d\u091f\u093f\u0935 \u0939\u094b \u091c\u093e\u090f\u0917\u093e \u0914\u0930 \u0906\u092a \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u0947 \u0938\u094c\u0926\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932 \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u091c\u092c \u0924\u0915 \u0915\u0940\u092e\u0924 255 \u0928\u0939\u0940\u0902 \u092a\u0939\u0941\u0902\u091a\u0924\u0940, \u0924\u092c \u0924\u0915 \u0906\u092a\u0915\u093e \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0911\u0930\u094d\u0921\u0930 \u090f\u0915\u094d\u091f\u093f\u0935 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964", "", "\u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0911\u0930\u094d\u0921\u0930 (Stop Loss Order ) \u090f\u0915 \u0928\u093f\u0937\u094d\u0915\u094d\u0930\u093f\u092f\u093e \u0911\u0930\u094d\u0921\u0930 \u092f\u093e\u0928\u0940 \u092a\u0948\u0938\u093f\u0935 \u0911\u0930\u094d\u0921\u0930 (Passive Order ) \u0939\u0948 \u092f\u093e\u0928\u0940 \u0907\u0938 \u0911\u0930\u094d\u0921\u0930 \u0915\u094b \u0938\u0915\u094d\u0930\u093f\u092f\u093e \u092f\u093e\u0928\u0940 \u090f\u0915\u094d\u091f\u093f\u0935 (Active) \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u090f\u0915 \u091f\u094d\u0930\u093f\u0917\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 (Trigger) \u0921\u093e\u0932\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092f\u0947 \u091f\u094d\u0930\u093f\u0917\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0906\u092a\u0915\u0947 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0925\u094b\u0921\u093c\u093e \u090a\u092a\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0914\u0930 \u092f\u0939\u0940 \u0935\u094b \u0938\u0940\u092e\u093e \u0939\u0948 \u091c\u093f\u0938\u0915\u094b \u092a\u093e\u0930 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0911\u0930\u094d\u0921\u0930 \u092a\u0948\u0938\u093f\u0935 \u0938\u0947 \u090f\u0915\u094d\u091f\u093f\u0935 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0905\u092a\u0928\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0939\u092e\u0928\u0947 261 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u093e\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0938\u094c\u0926\u093e \u0916\u0930\u093e\u092c \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948,\u0914\u0930 \u0939\u092e 255 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u0907\u0938\u0938\u0947 \u091b\u0941\u091f\u0915\u093e\u0930\u093e \u092a\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0924\u094b \u0939\u092e\u093e\u0930\u0940 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u0940\u092e\u0924 \u0939\u0941\u0908 255 \u0930\u0941\u092a\u092f\u0947\u0964 \u091f\u094d\u0930\u093f\u0917\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0938\u0932\u093f\u090f \u0926\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0939\u092e\u093e\u0930\u093e \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0911\u0930\u094d\u0921\u0930 \u090f\u0915\u094d\u091f\u093f\u0935 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091f\u094d\u0930\u093f\u0917\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0939\u092e\u0947\u0936\u093e \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u092a\u094d\u0930\u093e\u0907\u0938 \u0938\u0947 \u090a\u092a\u0930 \u092f\u093e \u0909\u0938\u0915\u0947 \u092c\u0930\u093e\u092c\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u094b \u0939\u092e 255 \u0930\u0941\u092a\u092f\u0947 \u092f\u093e \u0909\u0938\u0915\u0947 \u090a\u092a\u0930 \u0930\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0905\u0917\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 255 \u0915\u0947 \u0928\u0940\u091a\u0947 \u0917\u093f\u0930\u0924\u0940 \u0939\u0948, \u0924\u094b \u092f\u0947 \u0911\u0930\u094d\u0921\u0930 \u090f\u0915\u094d\u091f\u093f\u0935 \u0939\u094b \u091c\u093e\u090f\u0917\u093e\u0964", "\u0905\u092c \u0939\u092e \u0905\u092a\u0928\u0947 \u092c\u093e\u092f \u0911\u0930\u094d\u0921\u0930 \u092b\u0949\u0930\u094d\u092e (Buy Order Form) \u092a\u0930 \u0926\u094b\u092c\u093e\u0930\u093e \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0911\u0930\u094d\u0921\u0930 \u091f\u093e\u0907\u092a \u092f\u093e \u0911\u0930\u094d\u0921\u0930 \u0915\u0940 \u0915\u093f\u0938\u094d\u092e \u0939\u092e\u0928\u0947 \u091a\u0941\u0928 \u0932\u0940 \u0939\u0948\u0964 \u0905\u092c \u0939\u092e\u0947\u0902 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u092f\u093e \u0915\u094d\u0935\u093e\u0902\u091f\u093f\u091f\u0940 \u091a\u0941\u0928\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0939\u094b\u0917\u0940 \u0915\u093f \u0939\u092e\u0947\u0902 ITC \u0915\u093e \u090f\u0915 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u0948, \u0924\u094b \u0939\u092e \u0915\u094d\u0935\u093e\u0902\u091f\u093f\u091f\u0940 \u0915\u0947 \u092c\u0949\u0915\u094d\u0938 \u092f\u093e \u0921\u092c\u094d\u092c\u0947 \u092e\u0947\u0902 1 \u092d\u0930\u0947\u0902\u0917\u0947\u0964 \u0907\u0938 \u0938\u092e\u092f \u0939\u092e\u0947\u0902 \u091f\u094d\u0930\u093f\u0902\u0917\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u0947 \u0915\u0940 \u091c\u093c\u0930\u0942\u0930\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0939\u092e\u0928\u0947 \u0905\u092a\u0928\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0932\u093f\u0916 \u0926\u0940 \u0939\u0948, \u0905\u092c \u0939\u092e\u0947\u0902 \u092a\u094d\u0930\u094b\u0921\u0915\u094d\u091f \u091f\u093e\u0907\u092a \u092d\u0930\u0928\u093e \u0939\u0948\u0964", "\u0921\u093f\u0932\u0940\u0935\u0930\u0940 \u0935\u093e\u0932\u0947 \u0938\u094c\u0926\u094b\u0902 \u092e\u0947\u0902 CNC \u0915\u094b \u091a\u0941\u0928\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a \u0907\u0938 \u0936\u0947\u092f\u0930 \u0915\u094b \u0916\u0930\u0940\u0926 \u0915\u0930 \u0915\u0941\u091b \u0926\u093f\u0928\u094b\u0902 \u092f\u093e \u092e\u0939\u0940\u0928\u094b\u0902 \u092f\u093e \u0938\u093e\u0932\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0906\u092a\u0915\u094b \u092f\u0947 \u0936\u0947\u092f\u0930 \u0905\u092a\u0928\u0947 \u0921\u0940\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u091a\u093e\u0939\u093f\u090f\u0964 CNC \u0915\u094b \u091a\u0941\u0928 \u0915\u0930 \u0906\u092a \u0905\u092a\u0928\u0947 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u094b \u0905\u092a\u0928\u0940 \u092f\u0947 \u0907\u091a\u094d\u091b\u093e \u092c\u0924\u093e\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u0917\u0930 \u0906\u092a \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u091f\u094d\u0930\u0947\u0921 (Intraday) \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a NRML \u092f\u093e MIS \u091a\u0941\u0928\u0947\u0902\u0917\u0947\u0964 MIS \u090f\u0915 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092a\u094d\u0930\u094b\u0921\u0915\u094d\u091f \u0939\u0948 \u091c\u093f\u0938\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u092e \u0906\u0917\u0947 \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935 \u0915\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u091c\u094d\u092f\u093e\u0926\u093e \u091c\u093e\u0928\u0947\u0902\u0917\u0947\u0964", "\u090f\u0915 \u092c\u093e\u0930 \u092f\u0947 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092d\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0906\u092a\u0915\u093e \u092b\u0949\u0930\u094d\u092e \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u091c\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u0939\u0940 \u0906\u092a Submit \u092f\u093e\u0928\u093f \u091c\u092e\u093e \u0915\u0930\u0947\u0902 \u0915\u093e \u092c\u091f\u0928 \u0926\u092c\u093e\u090f\u0902\u0917\u0947, \u0906\u092a\u0915\u094b \u090f\u0915 \u0911\u0930\u094d\u0921\u0930 \u091f\u093f\u0915\u091f \u0928\u0902\u092c\u0930 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u093e \u091c\u094b \u0906\u092a\u0915\u0947 \u0911\u0930\u094d\u0921\u0930 \u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u0939\u094b\u0917\u093e\u0964", "\u091c\u092c \u0911\u0930\u094d\u0921\u0930 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u094b \u092d\u0947\u091c\u093e \u091c\u093e\u0924\u093e \u0939\u0948, \u0924\u094b \u092f\u0947 \u0924\u0941\u0930\u0902\u0924 \u092a\u0942\u0930\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964 \u092f\u0947 \u092a\u0942\u0930\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 261 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u0939\u0940 \u0915\u0940\u092e\u0924 261 \u0930\u0941\u092a\u092f\u0947 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u0924\u0940 \u0939\u0948 (\u0914\u0930 \u0915\u094b\u0908 1 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092e\u094c\u091c\u0942\u0926 \u0939\u0948) \u0906\u092a\u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u092a\u0942\u0930\u093e \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0906\u092a\u0915\u094b ITC\u00a0 \u0915\u093e \u090f\u0915 \u0936\u0947\u092f\u0930 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u093e\u0964", "", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092e\u0947\u0902 \u0911\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u0914\u0930 \u091f\u094d\u0930\u0947\u0921 \u092c\u0941\u0915 \u0928\u093e\u092e \u0915\u0947 \u0926\u094b \u0911\u0928\u0932\u093e\u0907\u0928 \u0930\u091c\u093f\u0938\u094d\u091f\u0930 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0911\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u0906\u092a\u0915\u0947 \u0938\u092d\u0940 \u0911\u0930\u094d\u0921\u0930, \u091c\u094b \u0906\u092a\u0928\u0947 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u094b \u092d\u0947\u091c\u0947 \u0939\u0948\u0902, \u0909\u0928\u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 \u091f\u094d\u0930\u0947\u0921 \u092c\u0941\u0915 \u0909\u0928 \u0938\u094c\u0926\u094b\u0902 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948 \u091c\u094b \u0909\u0938 \u0926\u093f\u0928 \u0906\u092a\u0928\u0947 \u0915\u093f\u090f \u0939\u0948\u0902\u0964 \u0911\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u092e\u0947\u0902 \u0906\u092a\u0915\u0947 \u0911\u0930\u094d\u0921\u0930 \u0915\u0940 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0906\u092a \u092f\u0939\u093e\u0901 \u0911\u0930\u094d\u0921\u0930\u094d\u0938 \u091f\u0948\u092c (Orders Tab) \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0915\u0947 \u092a\u0939\u0941\u0902\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "", "", "", "\u0911\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u092e\u0947\u0902 \u091c\u093e\u0915\u0930 \u0906\u092a \u0928\u093f\u092e\u094d\u0928 \u091a\u0940\u091c\u0947\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u2026", "\u0906\u092a\u0915\u094b \u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f 261 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 ITC \u0915\u093e \u090f\u0915 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0913\u092a\u0928 \u0911\u0930\u094d\u0921\u0930 (Open Order) \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948\u0964 \u0906\u092a \u092a\u0947\u0902\u0921\u093f\u0902\u0917 \u0911\u0930\u094d\u0921\u0930 (Pending Order ) \u0915\u0947 \u090a\u092a\u0930 \u091c\u093e\u090f\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u0911\u0930\u094d\u0921\u0930 \u0915\u094b \u092c\u0926\u0932\u0928\u0947 \u092f\u093e \u0915\u0948\u0902\u0938\u093f\u0932 \u0915\u0930\u0928\u0947 \u0915\u093e \u0935\u093f\u0915\u0932\u094d\u092a \u0926\u093f\u0916\u0947\u0917\u093e\u0964", "", "", "\u0905\u0917\u0930 \u0906\u092a \u092e\u0949\u0921\u093f\u092b\u093e\u0908 (Modify) \u0915\u093e \u092c\u091f\u0928 \u0926\u092c\u093e\u090f\u0902\u0917\u0947, \u0924\u094b \u0906\u092a\u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u092b\u0949\u0930\u094d\u092e \u092b\u093f\u0930 \u0938\u0947 \u0938\u093e\u092e\u0928\u0947 \u0906 \u091c\u093e\u090f\u0917\u093e \u091c\u093f\u0938\u092e\u0947\u0902 \u0906\u092a \u092c\u0926\u0932\u093e\u0935 \u0915\u0930 \u0938\u0915\u0947\u0902\u0917\u0947\u0964 \u090f\u0915 \u092c\u093e\u0930 \u0911\u0930\u094d\u0921\u0930 \u092a\u0942\u0930\u093e \u0939\u094b \u091c\u093e\u090f \u0914\u0930 \u091f\u094d\u0930\u0947\u0921 \u0939\u094b \u091c\u093e\u090f \u0924\u094b \u0906\u092a\u0915\u0947 \u0938\u094c\u0926\u0947 \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u091f\u094d\u0930\u0947\u0921 \u092c\u0941\u0915 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0917\u0940\u0964 \u091f\u094d\u0930\u0947\u0921 \u092c\u0941\u0915, \u0911\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u0915\u0947 \u0920\u0940\u0915 \u0928\u0940\u091a\u0947 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u091f\u094d\u0930\u0947\u0921 \u092c\u0941\u0915 \u0915\u0940 \u090f\u0915 \u0924\u0938\u094d\u0935\u0940\u0930 \u0928\u0940\u091a\u0947 \u0926\u0947\u0916\u0947\u0902\u0964", "", "", "\u091f\u094d\u0930\u0947\u0921 \u092c\u0941\u0915 \u092e\u0947\u0902 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0928\u0947 ITC\u00a0 \u0915\u093e \u090f\u0915 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0911\u0930\u094d\u0921\u0930 262 \u0930\u0941\u092a\u092f\u0947 20 \u092a\u0948\u0938\u0947 \u092a\u0930 \u092a\u0942\u0930\u093e \u0915\u093f\u092f\u093e\u0964 \u0907\u0938\u0915\u0947 \u0938\u093e\u0925 \u0939\u0940 \u0906\u092a\u0915\u094b \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0940 \u0924\u0930\u092b \u0938\u0947 \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u090f\u0915 \u092f\u0942\u0928\u093f\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0911\u0930\u094d\u0921\u0930 \u0928\u0902\u092c\u0930 (Unique Exchange Order Number) \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0917\u093e\u0964 \u0924\u094b \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0939\u092e\u093e\u0930\u093e \u092a\u0939\u0932\u093e \u0915\u093e\u092e \u092a\u0942\u0930\u093e \u0939\u0941\u0906\u0964 \u0905\u092c \u0906\u092a ITC \u0915\u093e \u090f\u0915 \u0936\u0947\u092f\u0930 \u0906\u0927\u093f\u0915\u093e\u0930\u093f\u0915 \u0924\u094c\u0930 \u092a\u0930 \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0915\u0930 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902\u0964 \u092f\u0947 \u0936\u0947\u092f\u0930 \u0924\u092c \u0924\u0915 \u0906\u092a\u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0930\u0939\u0947\u0917\u093e, \u091c\u092c \u0924\u0915 \u0906\u092a \u0909\u0938\u0947 \u092c\u0947\u091a \u0928 \u0926\u0947\u0902\u0964", "", "\u0939\u092e\u093e\u0930\u093e \u0905\u0917\u0932\u093e \u0915\u093e\u092e \u0925\u093e \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u091f\u094d\u0930\u0948\u0915 \u0915\u0930\u0928\u093e\u0964 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u092a\u0939\u0932\u093e \u0915\u0926\u092e \u0939\u094b\u0917\u093e, \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u094b \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093e\u091a () \u092e\u0947\u0902 \u0921\u093e\u0932\u0928\u093e\u0964 \u0906\u092a \u0938\u0930\u094d\u091a \u092c\u0949\u0915\u094d\u0938 \u092e\u0947\u0902 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u094b \u0916\u094b\u091c \u0915\u0930 \u092f\u0947 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "", "", "\u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0902\u092c\u0932 \u0939\u0948 INFY \u0964 \u0906\u092a \u091c\u092c INFY \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0947\u0902\u0917\u0947 \u0914\u0930 \u090f\u0921 (Add ) \u0915\u094b \u0926\u092c\u093e\u090f\u0902\u0917\u0947 \u0924\u094b \u092f\u0947 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093e\u091a (Market Watch ) \u092e\u0947\u0902 \u091c\u0941\u0921\u093c \u091c\u093e\u090f\u0917\u093e\u0964", "", "", "\u0905\u092c \u0939\u092e \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0915\u0941\u091b \u0932\u093e\u0907\u0935 (LIVE) \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u091f\u094d\u0930\u0948\u0915 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u093e\u0938\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u092a\u094d\u0930\u093e\u0907\u0938 1014.75 \u0930\u0941\u092a\u092f\u0947 \u0939\u0948, \u0936\u0947\u092f\u0930 0.11 \u092a\u0930\u0938\u0947\u0902\u091f \u0928\u0940\u091a\u0947 \u0939\u0948, \u0907\u0938\u0915\u093e \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u093e \u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u092a\u094d\u0930\u093e\u0907\u0938 1015.85 \u0930\u0941\u092a\u092f\u0947 \u0925\u093e\u0964 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0906\u091c 1014.80 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u0916\u0941\u0932\u093e \u0964 \u0907\u0938\u0928\u0947 998.40 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u094d\u0924\u0930 \u0914\u0930 1028.95 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u090a\u0902\u091a\u0947 \u0938\u094d\u0924\u0930 \u0915\u094b \u091b\u0941\u0906\u0964 \u0936\u0947\u092f\u0930 \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e 36 \u0932\u093e\u0916 \u0936\u0947\u092f\u0930 \u0939\u0948\u0964", "\u0927\u094d\u092f\u093e\u0928 \u0926\u0940\u091c\u093f\u090f \u0915\u093f \u0936\u0947\u092f\u0930 \u0915\u0940 \u0913\u092a\u0928 \u092a\u094d\u0930\u093e\u0907\u0938 \u092f\u093e\u0928\u0940 \u0916\u0941\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0940\u092e\u0924 \u0928\u0939\u0940\u0902 \u092c\u0926\u0932\u0924\u0940 \u0932\u0947\u0915\u093f\u0928 \u0938\u092c\u0938\u0947 \u090a\u0902\u091a\u0940 \u0914\u0930 \u0938\u092c\u0938\u0947 \u0928\u0940\u091a\u0940 \u0915\u0940\u092e\u0924 \u092c\u0926\u0932\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0905\u0917\u0930 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u0936\u0947\u092f\u0930 1014.20 \u0930\u0941\u092a\u092f\u0947 \u0915\u0940 \u091c\u0917\u0939 1050 \u0930\u0941\u092a\u092f\u0947 \u0939\u094b \u091c\u093e\u090f, \u0924\u094b \u0938\u092c\u0938\u0947 \u090a\u0902\u091a\u0940 \u0915\u0940\u092e\u0924 1050 \u0930\u0941\u092a\u092f\u0947 \u0926\u093f\u0916\u0928\u0947 \u0932\u0917\u0947\u0917\u0940\u0964", "\u0906\u092a \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u093f \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e LTP \u092f\u093e\u0928\u0940 \u0932\u093e\u0938\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u092a\u094d\u0930\u093e\u0907\u0938\u00a0 \u0939\u0930\u093e \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u091c\u092c\u0915\u093f ITC \u0915\u093e \u0932\u093e\u0932\u0964 \u0905\u0917\u0930 \u092e\u094c\u091c\u0942\u0926\u093e LTP \u092a\u093f\u091b\u0932\u0947 LTP \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948, \u0924\u094b \u092f\u0947 \u0939\u0930\u093e \u0926\u093f\u0916\u0947\u0917\u093e, \u0928\u0939\u0940\u0902 \u0924\u094b \u0932\u093e\u0932\u0964 \u0907\u0938\u0947 \u092b\u094b\u091f\u094b \u092e\u0947\u0902 \u0928\u0940\u091a\u0947 \u0926\u0947\u0916\u0947\u0902\u0964", "", "", "\u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0940 \u0915\u0940\u092e\u0924 1014.20 \u0930\u0941\u092a\u092f\u0947 \u0938\u0947 \u092c\u0922\u093c\u0915\u0930 1020.80 \u0930\u0941\u092a\u092f\u0947 \u0939\u094b \u0917\u0908 \u0939\u0948 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0915\u093e \u0930\u0902\u0917 \u0932\u093e\u0932 \u0938\u0947 \u0928\u0940\u0932\u093e/ \u0939\u0930\u093e \u0939\u094b \u0917\u092f\u093e \u0939\u0948\u0964", "(The price of Infosys moved from 1014.20 to 1020.80, and hence the colour changed to red from blue.) NOTE: In the screen shot there is no blue colour. Should it be red to green?", "", "LTP, OHLC \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u091c\u0948\u0938\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0906\u092a \u0914\u0930 \u0917\u0939\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092d\u0940 \u0909\u0938 \u0938\u092e\u092f \u0915\u0947 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 (Market Depth ) \u0915\u094b \u0916\u094b\u0932\u0928\u093e \u0939\u094b\u0917\u093e \u091c\u093f\u0938\u0947 \u0938\u094d\u0928\u0948\u092a \u0915\u094b\u091f \u0935\u093f\u0902\u0921\u094b (Snap Quote Window) \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0938\u094d\u0928\u0948\u092a \u0915\u094b\u091f \u0935\u093f\u0902\u0921\u094b \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0906\u092a\u0915\u094b \u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0908 \u0917\u0908 \u092c\u093f\u0921 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0932\u093e\u0932 \u0930\u0902\u0917 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0908 \u0917\u0908 \u0906\u0938\u094d\u0915 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "", "\u091c\u0947\u0930\u094b\u0927\u093e \u0915\u0947 \u0935\u0947\u092c \u092a\u094d\u0932\u0947\u091f\u092b\u0949\u0930\u094d\u092e \u0915\u093e\u0907\u091f (Kite) \u0915\u094b \u0914\u0930 \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0914\u0930 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u0909\u0938\u0915\u093e \u092f\u0942\u091c\u0930 \u092e\u0948\u0928\u0941\u0905\u0932 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "", "9.6 \u092c\u093f\u0921 \u0914\u0930 \u0906\u0938\u094d\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 \u092f\u093e \u0915\u0940\u092e\u0924 (The Bid and Ask Price)", "\u0905\u0917\u0930 \u0906\u092a\u0915\u094b \u0915\u094b \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u0948, \u0924\u094b \u0915\u093f\u0938\u0940 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0938\u0947 \u0939\u0940 \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0936\u0947\u092f\u0930 \u0909\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u0947\u091a\u0947\u0917\u093e \u091c\u094b \u0909\u0938\u0915\u094b \u0938\u0939\u0940 \u0932\u0917\u0947\u0964 \u091c\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0935\u094b \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948 \u092f\u093e\u0928\u093f \u0936\u0947\u092f\u0930 \u0915\u0940 \u091c\u094b \u0915\u0940\u092e\u0924 \u0935\u094b \u092e\u093e\u0902\u0917 \u0930\u0939\u093e \u0939\u0948 \u0909\u0938\u0915\u094b \u0906\u0938\u094d\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 (Ask Price) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u0938\u094d\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 \u0932\u093e\u0932 \u0930\u0902\u0917 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0908 \u0917\u0908 \u0939\u0948, \u0907\u0938\u0915\u094b \u0925\u094b\u0921\u093c\u093e \u0914\u0930 \u0917\u0939\u0930\u093e\u0908 \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0938\u094d\u0928\u0948\u092a \u0915\u094b\u091f \u0935\u093f\u0902\u0921\u094b (Snap quote window) \u092e\u0947\u0902 \u090a\u092a\u0930 \u0915\u0940 5 \u092c\u093f\u0921 \u0914\u0930 \u0906\u0938\u094d\u0915 \u0915\u0940\u092e\u0924\u0947\u0902 \u092f\u093e \u092a\u094d\u0930\u093e\u0907\u0938 \u0926\u093f\u0916\u0924\u0940 \u0939\u0948\u0902\u0964 \u090a\u092a\u0930 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u091f\u0947\u092c\u0932 \u092f\u093e \u0938\u093e\u0930\u0923\u0940 \u092e\u0947\u0902 \u0906\u092a 5 \u0906\u0938\u094d\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092a\u0939\u0932\u093e \u0906\u0938\u094d\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 \u0939\u0948 3294.80 \u0930\u0941\u092a\u092f\u0947\u0964 \u0907\u0938 \u0938\u092e\u092f \u092f\u0947 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u0940 \u0915\u0940\u092e\u0924 \u0939\u0948\u0964 \u0914\u0930 \u0907\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0915\u0947\u0935\u0932 2 \u0936\u0947\u092f\u0930 \u092e\u093f\u0932 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0935\u094b \u092d\u0940 \u0926\u094b \u0905\u0932\u0917-\u0905\u0932\u0917 \u0932\u094b\u0917\u094b\u0902 \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u091c\u094b \u090f\u0915-\u090f\u0915 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0915\u0940 \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u0940 \u0915\u0940\u092e\u0924 \u0939\u0948 3294.85 \u0930\u0941\u092a\u092f\u0947\u0964 \u0907\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 4 \u0936\u0947\u092f\u0930 \u092e\u093f\u0932 \u0930\u0939\u0947 \u0939\u0948\u0902 \u091c\u094b 2 \u0932\u094b\u0917 \u092c\u0947\u091a \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0924\u0940\u0938\u0930\u0940 \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u0940 \u0915\u0940\u092e\u0924 \u0939\u0948 3295 \u0930\u0941\u092a\u092f\u0947 \u091c\u093f\u0938 \u092a\u0930 8 \u0936\u0947\u092f\u0930 \u092e\u093f\u0932 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092f\u0939\u093e\u0901 \u092d\u0940 2 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u092f\u0947 \u0915\u094d\u0930\u092e \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u093e \u0939\u0948\u0964", "\u0906\u092a\u0915\u094b \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u090a\u0902\u091a\u0940 \u0906\u0938\u094d\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 \u0938\u092c\u0938\u0947 \u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u0940 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930, \u090a\u092a\u0930 \u0915\u0940 \u0938\u093e\u0930\u0923\u0940 \u092e\u0947\u0902 \u092a\u093e\u0902\u091a\u0935\u0947\u0902 \u0928\u0902\u092c\u0930 \u092a\u0930 \u0906\u0938\u094d\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 \u0939\u0948 3296.25 \u0930\u0941\u092a\u092f\u0947, \u0914\u0930 \u0907\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 5 \u0936\u0947\u092f\u0930 \u092e\u093f\u0932 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0910\u0938\u093e \u0907\u0938\u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0909\u0928 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u094b\u0902 \u0915\u094b \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u0915\u092e \u0938\u0947 \u0915\u092e \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964", "", "\u092f\u0947 \u092d\u0940 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u0905\u0917\u0930 \u0906\u092a 10 \u0936\u0947\u092f\u0930 3294.8 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u0915\u0947\u0935\u0930 2 \u0939\u0940 \u0936\u0947\u092f\u0930 \u092e\u093f\u0932\u0947\u0902\u0917\u0947 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 2 \u0939\u0940 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0947 \u091c\u093e\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0906\u092a \u0915\u0940\u092e\u0924 \u0915\u094b \u0932\u0947\u0915\u0930 \u0905\u0921\u093c\u0947 \u0939\u0941\u090f \u0928\u0939\u0940\u0902 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 (Market Order) \u0921\u093e\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0924\u092c \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f\u2026", "\u0924\u094b \u092f\u0947 10 \u0936\u0947\u092f\u0930 3 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0915\u0940\u092e\u0924\u094b\u0902 \u092a\u0930 \u0916\u0930\u0940\u0926\u0947 \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u0907\u0938\u0940 \u0926\u094c\u0930\u093e\u0928 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e LTP 3294.8 \u0938\u0947 \u092c\u0922\u093c\u0915\u0930 3295 \u0939\u094b \u091c\u093e\u090f\u0917\u093e\u0964", "\u0905\u092c \u0905\u0917\u0930 \u0906\u092a \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u0915\u093f\u0938\u0940 \u0916\u0930\u0940\u0926\u093e\u0930 \u0915\u094b \u092c\u0947\u091a\u0928\u0947 \u0939\u094b\u0902\u0917\u0947\u0964 \u0935\u094b \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0940 \u0915\u0940\u092e\u0924 \u092c\u0924\u093e\u090f\u0917\u093e \u091c\u093f\u0938\u092a\u0930 \u0935\u094b \u0936\u0947\u092f\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948\u0964 \u091c\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0916\u0930\u0940\u0926\u093e\u0930 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u0948 \u0909\u0938\u0947 \u092c\u093f\u0921 \u092a\u094d\u0930\u093e\u0907\u0938 (Bid Price) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u093f\u0921 \u092a\u094d\u0930\u093e\u0907\u0938 \u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0907\u0938\u0947 \u091c\u093c\u0930\u093e \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0938\u094d\u0928\u0948\u092a \u0915\u094b\u091f \u0935\u093f\u0902\u0921\u094b (Snap quote window) \u090a\u092a\u0930 \u0915\u0940 \u092a\u093e\u0902\u091a \u092c\u093f\u0921 \u0915\u0940\u092e\u0924\u0947\u0902 \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 \u0906\u092a \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u093f \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u0940 \u0915\u0940\u092e\u0924 \u091c\u093f\u0938 \u092a\u0930 \u0915\u093f \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0947 \u091c\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0935\u094b 3294.75 \u0930\u0941\u092a\u092f\u0947 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0906\u092a \u0938\u093f\u0930\u094d\u092b 10 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0938\u093f\u0930\u094d\u092b 5 \u0932\u094b\u0917 \u0907\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0906\u092a\u0915\u094b \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 20 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0906\u092a \u0907\u0938\u0947 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092c\u0947\u091a\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u092c\u093f\u0921 \u0914\u0930 \u0906\u0938\u094d\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0909\u0928 \u092a\u093e\u0902\u091a \u0915\u0940\u092e\u0924\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948 \u091c\u0939\u093e\u0901 \u092a\u0930 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u092f\u093e \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u093e \u092e\u094c\u091c\u0942\u0926 \u0939\u0948\u0964 \u0905\u0917\u0930 \u0906\u092a \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 (Intraday trader) \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u092f\u0947 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0918\u0941\u0938\u0928\u0947 \u0915\u093e \u0930\u093e\u0938\u094d\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0915\u0908 \u0938\u0941\u0935\u093f\u0927\u093e\u090f\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u091c\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0915\u093e\u092e \u0906\u0924\u0940 \u0939\u0948\u0902\u0964 \u0907\u0928 \u0938\u0941\u0935\u093f\u0927\u093e\u0913\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u092e \u0906\u0917\u0947 \u092d\u0940 \u091c\u093e\u0928\u0924\u0947 \u0930\u0939\u0947\u0902\u0917\u0947\u0964 \u0905\u092d\u0940 \u0906\u092a\u0915\u094b \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093e\u091a, \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u0914\u0930 \u092c\u0947\u091a\u0928\u093e, \u0911\u0930\u094d\u0921\u0930 \u0914\u0930 \u091f\u094d\u0930\u0947\u0921 \u092c\u0941\u0915 \u0926\u0947\u0916\u0928\u093e \u0914\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u0935\u093f\u0902\u0921\u094b \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u0938\u092e\u091d \u0906 \u0917\u092f\u093e \u0939\u094b\u0917\u093e\u0964", "", "Hello,", "What and How is use this SL- M option on your trading book??", "SL-M, lets you exit the loss-making position by placing a market order (therefore a high probability of guaranteed execution).", "Hello sir\nSir intraday ke liye sabse best market order konsa rahta h ?", "Market order itself for intrday trading.", "Sir I will learn from zerodha varsity\nTqsm\nGod bless u", "Very nice topic", "\u092e\u0947\u0930\u0947 \u0926\u094d\u0935\u093e\u0930\u093e \u0916\u0930\u0940\u0926\u0947 \u0917\u092f\u0947 \u0936\u0947\u092f\u0930 \u0915\u094b \u092c\u0947\u091a\u0928\u0947 \u092a\u0930 \u0939\u094b\u0932\u094d\u0921\u0940\u0917 \u092e\u0947 \u0936\u0947\u092f\u0930 \u0928\u0939\u0940 \u0939\u0948 \u0932\u093f\u0916\u0924\u093e \u0939\u0948 \u0914\u0930 \u0936\u0947\u0932 \u0928\u093f\u0930\u0938\u094d\u0924 \u0915\u0930 \u0926\u0947\u0924\u093e \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902 ?", "Hi Shashi, \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u092c\u0947\u091a\u0928\u0947 \u092e\u0947\u0902 \u0938\u0915\u094d\u0937\u092e \u0939\u094b\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092a\u0940\u0913\u090f \u091c\u092e\u093e \u0915\u0930\u0928\u093e \u0905\u0928\u093f\u0935\u093e\u0930\u094d\u092f \u0939\u0948, \u0915\u0943\u092a\u092f\u093e \u091c\u093e\u0902\u091a \u0932\u0947\u0902 \u0915\u093f \u0915\u094d\u092f\u093e \u0906\u092a\u0915\u093e \u092a\u0940\u0913\u090f \u0939\u092e\u093e\u0930\u0947 \u0938\u093e\u0925 \u0905\u092a\u0921\u0947\u091f \u0939\u0948\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/Ch-9-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2019/09/M1C9.png", "https://zerodha.com/varsity/wp-content/uploads/2019/09/M1C9-2.png", "https://zerodha.com/varsity/wp-content/uploads/2019/09/M1C9-3.png", "https://zerodha.com/varsity/wp-content/uploads/2019/09/M1C9-4-2-300x134.png", "https://zerodha.com/varsity/wp-content/uploads/2019/09/M1C9-5-1-300x291.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/Screenshot_133.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/Screenshot_134-1024x503.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/Screenshot_137.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/Screenshot_138.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/Screenshot_139.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/Screenshot_141.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/Screenshot_142.png", "https://secure.gravatar.com/avatar/fe195fd4db584d36b6e165259ffa0b34?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3580a655a96d2c872d5f2ec1555115c6?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f0aa2d0b58339801b0fb34b97577824d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/09bb7da3b2368006c468fd57d925eb1e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/487bba51586d6dc9b86e3c3f96f7b157?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e\u093e\u0902\u0915</th>\n<th>\u0906\u0938\u094d\u0915 \u092a\u094d\u0930\u093e\u0907\u0938- \u092c\u0947\u091a\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924/\u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0915\u094d\u092f\u093e \u0915\u0940\u092e\u0924 \u092e\u093e\u0902\u0917 \u0930\u0939\u093e \u0939\u0948</th>\n<th>\u0915\u093f\u0924\u0928\u0947 \u0936\u0947\u092f\u0930 \u0939\u0948\u0902 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f</th>\n<th>\u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>3294.8</td>\n<td>2</td>\n<td>2</td>\n</tr>\n<tr>\n<td>2</td>\n<td>3294.85</td>\n<td>4</td>\n<td>2</td>\n</tr>\n<tr>\n<td>3</td>\n<td>3295</td>\n<td>8</td>\n<td>2</td>\n</tr>\n<tr>\n<td>4</td>\n<td>3296.2</td>\n<td>25</td>\n<td>1</td>\n</tr>\n<tr>\n<td>5</td>\n<td>3296.25</td>\n<td>5</td>\n<td>1</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e\u093e\u0902\u0915</th>\n<th>\u092c\u093f\u0921 \u092a\u094d\u0930\u093e\u0907\u0938- \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u093e \u0915\u093f\u0924\u0928\u0940 \u0915\u0940\u092e\u0924 \u0926\u0947\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u0948</th>\n<th>\u092c\u093f\u0921 \u0915\u094d\u0935\u093e\u0902\u091f\u093f\u091f\u0940- \u0915\u093f\u0924\u0928\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u092e\u093e\u0902\u0917 \u0939\u0948</th>\n<th>\u0916\u0930\u0940\u0926\u093e\u0930 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>3294.75</td>\n<td>10</td>\n<td>5</td>\n</tr>\n<tr>\n<td>2</td>\n<td>3294.2</td>\n<td>6</td>\n<td>1</td>\n</tr>\n<tr>\n<td>3</td>\n<td>3294.15</td>\n<td>1</td>\n<td>1</td>\n</tr>\n<tr>\n<td>4</td>\n<td>3293.85</td>\n<td>6</td>\n<td>1</td>\n</tr>\n<tr>\n<td>5</td>\n<td>3293.75</td>\n<td>125</td>\n<td>1</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "11. \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u092a\u093e\u0901\u091a \u092b\u0948\u0938\u0932\u0947 \u0914\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940\u092e\u0924\u094b\u0902 \u092a\u0930 \u0909\u0928\u0915\u093e \u0905\u0938\u0930", "text": ["", "\u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0915\u0908 \u092b\u0948\u0938\u0932\u0947 \u0909\u0938\u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u092a\u0930 \u0905\u0938\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0928 \u092b\u0948\u0938\u0932\u094b\u0902 \u0915\u094b \u0915\u0930\u0940\u092c \u0938\u0947 \u0926\u0947\u0916\u0928\u0947 \u092a\u0930 \u0906\u092a\u0915\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0939\u093e\u0932\u0924 \u0938\u0939\u093f\u0924 \u0915\u0908 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948\u0902\u0964 \u0907\u0928 \u092b\u0948\u0938\u0932\u094b\u0902 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0906\u092a \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u0947 \u0914\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0928\u093f\u0930\u094d\u0923\u092f \u092d\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0910\u0938\u0947 \u0939\u0940 \u092a\u093e\u0901\u091a \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092b\u0948\u0938\u0932\u094b\u0902 \u092a\u0930 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947 \u0914\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940\u092e\u0924\u094b\u0902 \u092a\u0930 \u0909\u0928\u0915\u0947 \u0905\u0938\u0930 \u0915\u094b \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964", "\u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u092b\u0948\u0938\u0932\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u094b\u0930\u094d\u0921 \u0911\u092b \u0921\u093e\u092f\u0930\u0947\u0915\u094d\u091f\u0930\u094d\u0938 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 (Board of Directors) \u0914\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915 \u0909\u0928\u0915\u094b \u092e\u0902\u091c\u0942\u0930\u0940 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u090f\u0915 \u0938\u093e\u0932 \u092e\u0947\u0902 \u091c\u094b \u092e\u0941\u0928\u093e\u092b\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0909\u0938\u0915\u094b \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u092e\u0947\u0902 \u092c\u093e\u0901\u091f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0947 \u0939\u0940 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u0947\u0924\u0940 \u0939\u0948\u0902\u0964 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 2012-13 \u092e\u0947\u0902 \u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938 \u0928\u0947 \u0939\u0930 \u0936\u0947\u092f\u0930 \u092a\u0930 42 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u093f\u092f\u093e \u0925\u093e\u0964 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u094b \u0936\u0947\u092f\u0930 \u0915\u0947 \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u0947 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092d\u0940 \u0926\u0947\u0916\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0915\u0940 \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942 5 \u0930\u0941\u092a\u092f\u0947 \u0925\u0940 \u0914\u0930 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 42 \u0930\u0941\u092a\u092f\u0947, \u092f\u093e\u0928\u0940 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 840% \u0915\u093e \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u093f\u092f\u093e (42/5) \u0964", "\u0939\u0930 \u0938\u093e\u0932 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u0947\u0928\u093e \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0932\u093f\u090f \u091c\u093c\u0930\u0942\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964 \u0905\u0917\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u093e\u0932 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u092c\u093e\u0901\u091f\u0928\u0947 \u0915\u0940 \u091c\u0917\u0939 \u0909\u0938 \u092a\u0948\u0938\u0947 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0928\u090f \u092a\u094d\u0930\u0949\u091c\u0947\u0915\u094d\u091f \u0914\u0930 \u092c\u0947\u0939\u0924\u0930 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u0932\u093f\u090f \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0924\u094b \u0915\u0902\u092a\u0928\u0940 \u0910\u0938\u093e \u0915\u0930 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0939\u092e\u0947\u0936\u093e \u092e\u0941\u0928\u093e\u092b\u0947 \u092e\u0947\u0902 \u0938\u0947 \u0939\u0940 \u0928\u0939\u0940\u0902 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e\u0964 \u0915\u0908 \u092c\u093e\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u092e\u0941\u0928\u093e\u092b\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0915\u0947 \u092a\u093e\u0938 \u0915\u093e\u092b\u0940 \u0928\u0915\u0926 \u092a\u0921\u093c\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0909\u0938 \u0928\u0915\u0926 \u092e\u0947\u0902 \u0938\u0947 \u092d\u0940 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u0947 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0915\u092d\u0940 \u0915\u092d\u0940 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u0947\u0928\u093e \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0932\u093f\u090f \u0938\u092c\u0938\u0947 \u0938\u0939\u0940 \u0915\u0926\u092e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u091c\u092c \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0915\u093e \u0915\u094b\u0908 \u0938\u0939\u0940 \u0930\u093e\u0938\u094d\u0924\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0914\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u0928\u0915\u0926\u0940 \u0930\u0915\u092e \u092a\u0921\u093c\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948, \u0910\u0938\u0947 \u092e\u0947\u0902 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u0947 \u0915\u0930 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u092a\u0941\u0930\u0938\u094d\u0915\u0943\u0924 \u0915\u0930\u0928\u093e \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u092a\u0930 \u092d\u0930\u094b\u0938\u093e \u092c\u0922\u093c\u0924\u093e \u0939\u0948\u0964", "", "\u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u0947\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0910\u0928\u0941\u0905\u0932 \u091c\u0928\u0930\u0932 \u092e\u0940\u091f\u093f\u0902\u0917 \u092f\u093e\u0928\u0940 AGM \u092e\u0947\u0902 \u0932\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948, \u091c\u0939\u093e\u0901 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0921\u093e\u092f\u0930\u0947\u0915\u094d\u091f\u0930 \u092e\u093f\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u0947\u0928\u0947 \u0915\u0940 \u0918\u094b\u0937\u0923\u093e \u0939\u094b\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0939\u0940 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0928\u0939\u0940\u0902 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0936\u0947\u092f\u0930 \u0915\u0940 \u0916\u0930\u0940\u0926 \u092c\u093f\u0915\u094d\u0930\u0940 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092a\u0930 \u0932\u0917\u093e\u0924\u093e\u0930 \u091a\u0932 \u0930\u0939\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0910\u0938\u0947 \u092e\u0947\u0902 \u092f\u0947 \u092a\u0924\u093e \u0932\u0917\u093e\u0928\u093e \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u093f\u0938\u0947 \u0926\u093f\u092f\u093e \u091c\u093e\u090f \u0914\u0930 \u0915\u093f\u0938\u0947 \u0928\u0939\u0940\u0902\u0964 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u093f\u090f", "", "\u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0921\u0947\u0915\u094d\u0932\u0930\u0947\u0936\u0928 \u0921\u0947\u091f (Dividend Declaration Date):\u00a0 \u092f\u0947 \u0935\u094b \u0926\u093f\u0928 \u0939\u0948 \u091c\u092c AGM \u0915\u0940 \u092c\u0948\u0920\u0915 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u092c\u094b\u0930\u094d\u0921 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u094b \u092e\u0902\u091c\u0942\u0930\u0940 \u0926\u0947\u0924\u093e \u0939\u0948\u0964", "\u0930\u093f\u0915\u0949\u0930\u094d\u0921 \u0921\u0947\u091f (Record Date): \u092f\u0947 \u0935\u094b \u0926\u093f\u0928 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u093f\u0938 \u0926\u093f\u0928 \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0930\u093f\u0915\u0949\u0930\u094d\u0921 \u0915\u094b \u0926\u0947\u0916\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0938\u092e\u0947\u0902 \u091c\u093f\u0928 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u0947 \u0928\u093e\u092e \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0909\u0928\u094d\u0939\u0947\u0902 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u0947\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u0940 \u0918\u094b\u0937\u0923\u093e \u0914\u0930 \u0930\u093f\u0915\u0949\u0930\u094d\u0921 \u0921\u0947\u091f \u0915\u0947 \u092c\u0940\u091a \u0915\u092e \u0938\u0947 \u0915\u092e 30 \u0926\u093f\u0928\u094b\u0902 \u0915\u093e \u092b\u093e\u0938\u0932\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915\u094d\u0938 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0921\u0947\u091f (Ex Date/ Ex Dividend Date): \u092f\u0947 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0930\u093f\u0915\u0949\u0930\u094d\u0921 \u0921\u0947\u091f \u0938\u0947 \u0926\u094b \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0926\u093f\u0928 \u092a\u0939\u0932\u0947 \u0915\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0910\u0938\u093e \u0907\u0938\u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092d\u093e\u0930\u0924 \u092e\u0947\u0902 T+2 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092f\u093e\u0928\u0940 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0926\u094b \u0926\u093f\u0928 \u092c\u093e\u0926 \u0938\u0947\u091f\u0947\u0932\u092e\u0947\u0902\u091f \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0924\u094b \u0905\u0917\u0930 \u0906\u092a\u0915\u094b \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u091a\u093e\u0939\u093f\u090f \u0924\u094b \u0906\u092a\u0915\u094b \u0936\u0947\u092f\u0930 \u090f\u0915\u094d\u0938 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0921\u0947\u091f \u0915\u0947 \u092a\u0939\u0932\u0947 \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u092a\u0947 \u0906\u0909\u091f \u0921\u0947 (Dividend Payout Date): \u0907\u0938 \u0926\u093f\u0928 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u093e \u092d\u0941\u0917\u0924\u093e\u0928 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0915\u092e \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 (Cum Dividend): \u090f\u0915\u094d\u0938 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0921\u0947\u091f \u0924\u0915 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u0915\u092e \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 (Cum Dividend) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u091c\u092c \u0936\u0947\u092f\u0930 \u090f\u0915\u094d\u0938 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u0940 \u0930\u093e\u0936\u093f \u0915\u0947 \u092c\u0930\u093e\u092c\u0930 \u0915\u0940 \u0917\u093f\u0930\u093e\u0935\u091f \u0906 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0905\u0917\u0930 ITC \u0915\u093e \u0936\u0947\u092f\u0930 335 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u0939\u0948 \u0914\u0930 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 5 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0926\u0947\u0928\u0947 \u0915\u093e \u0910\u0932\u093e\u0928 \u0915\u093f\u092f\u093e \u0939\u0948 \u0924\u094b \u090f\u0915\u094d\u0938 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0921\u0947\u091f \u092a\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 330 \u0930\u0941\u092a\u092f\u0947 \u0924\u0915 \u0917\u093f\u0930 \u0938\u0915\u0924\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0905\u092c \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u092f\u0947 5 \u0930\u0941\u092a\u092f\u0947 \u0928\u0939\u0940\u0902 \u0939\u0948\u0902\u0964", "\u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0935\u093f\u0924\u094d\u0924 \u0935\u0930\u094d\u0937 \u0915\u0947 \u0926\u094c\u0930\u093e\u0928 \u0915\u092d\u0940 \u092d\u0940 \u0926\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0938\u093e\u0932 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0924\u094b \u0909\u0938\u0947 \u0905\u0902\u0924\u0930\u093f\u092e \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0914\u0930 \u0905\u0917\u0930 \u0938\u093e\u0932 \u0915\u0947 \u0905\u0902\u0924 \u092e\u0947\u0902 \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0924\u094b \u092b\u093e\u0907\u0928\u0932 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u092c\u094b\u0928\u0938 \u0907\u0936\u094d\u092f\u0942 \u090f\u0915 \u0924\u0930\u0939 \u0915\u093e \u0938\u094d\u091f\u0949\u0915 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u092a\u0941\u0930\u0938\u094d\u0915\u0943\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0926\u0947\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u0940 \u0924\u0930\u0939 \u092a\u0948\u0938\u0947 \u0928\u0939\u0940\u0902 \u092c\u0932\u094d\u0915\u093f \u0936\u0947\u092f\u0930 \u0926\u0947\u0924\u0940 \u0939\u0948\u0964 \u092f\u0947 \u0936\u0947\u092f\u0930 \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0930\u093f\u091c\u0930\u094d\u0935 \u0938\u0947 \u091c\u093e\u0930\u0940 \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u092c\u094b\u0928\u0938 \u0936\u0947\u092f\u0930 \u092e\u0941\u092b\u094d\u0924 \u092e\u0947\u0902 \u0926\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092f\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u0907\u0938 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0926\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0909\u0928\u0915\u0947 \u092a\u093e\u0938 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0915\u093f\u0924\u0928\u0947 \u0936\u0947\u092f\u0930 \u092e\u094c\u091c\u0942\u0926 \u0939\u0948\u0902\u0964 \u092c\u094b\u0928\u0938 \u0936\u0947\u092f\u0930 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u090f\u0915 \u0916\u093e\u0938 \u0905\u0928\u0941\u092a\u093e\u0924 \u092e\u0947\u0902 \u091c\u093e\u0930\u0940 \u0915\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u091c\u0948\u0938\u0947 1:1, 2:1, 3:1 \u0906\u0926\u093f\u0964", "\u0905\u0917\u0930 \u0905\u0928\u0941\u092a\u093e\u0924 2:1 \u00a0 \u0939\u0948 \u0924\u094b \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915 \u0915\u094b \u0939\u0930 \u090f\u0915 \u0936\u0947\u092f\u0930 \u0915\u0947 \u092c\u0926\u0932\u0947 \u092e\u0947\u0902 \u0926\u094b \u0914\u0930 \u0936\u0947\u092f\u0930 \u092e\u093f\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u0924\u0932\u092c \u0915\u093f \u0905\u0917\u0930 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915 \u0915\u0947 \u092a\u093e\u0938 100 \u0936\u0947\u092f\u0930 \u0939\u0948\u0902 \u0924\u094b \u0909\u0938\u0947 200 \u0936\u0947\u092f\u0930 \u0914\u0930 \u092e\u093f\u0932\u0947\u0902\u0917\u0947 \u0914\u0930 \u0909\u0938\u0915\u0947 \u092a\u093e\u0938 \u0915\u0941\u0932 300 \u0936\u0947\u092f\u0930 \u0939\u094b \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u0907\u0938\u0938\u0947 \u0909\u0938\u0915\u0947 \u092a\u093e\u0938 \u0936\u0947\u092f\u0930 \u0924\u094b \u092c\u0922\u093c \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0915\u0940 \u0928\u093f\u0935\u0947\u0936 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0928\u0939\u0940\u0902 \u092c\u0922\u093c\u0924\u0940\u0964", "\u0907\u0938\u0947 \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f\u0964", "\u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u0940 \u0939\u0940 \u0924\u0930\u0939 \u092c\u094b\u0928\u0938 \u092e\u0947\u0902 \u092d\u0940 \u0905\u0928\u093e\u0909\u0902\u0938\u092e\u0947\u0902\u091f \u0921\u0947\u091f (Announcement Date) , \u090f\u0915\u094d\u0938 \u092c\u094b\u0928\u0938 \u0921\u0947\u091f \u0914\u0930 \u0930\u093f\u0915\u0949\u0930\u094d\u0921 \u0921\u0947\u091f \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u0930\u093f\u091f\u0947\u0932 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0940 \u092d\u093e\u0917\u0940\u0926\u093e\u0930\u0940 \u092c\u0922\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u092c\u094b\u0928\u0938 \u0907\u0936\u094d\u092f\u0942 \u0932\u093e\u0924\u0940 \u0939\u0948\u0902 \u0916\u093e\u0938\u0915\u0930 \u0924\u092c \u091c\u092c \u0915\u093f \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u093e\u092b\u0940 \u0909\u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u0917\u0908 \u0939\u094b \u0914\u0930 \u091b\u094b\u091f\u0947 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947 \u0932\u093f\u090f \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0939\u094b \u0930\u0939\u093e \u0939\u094b\u0964 \u092c\u094b\u0928\u0938 \u0907\u0936\u094d\u092f\u0942 \u0906\u0928\u0947 \u092a\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u092c\u0922 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0917\u093f\u0930 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0936\u0947\u092f\u0930 \u0915\u093e \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942 \u0928\u0939\u0940\u0902 \u092c\u0926\u0932\u0924\u093e\u0964", "\u0936\u0947\u092f\u0930 \u0938\u094d\u092a\u094d\u0932\u093f\u091f \u092f\u093e\u0928\u0940 \u0936\u0947\u092f\u0930 \u0915\u093e \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u092e\u0947\u0902 \u092c\u0902\u091f\u0928\u093e \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u090f\u0915 \u0906\u092e \u0918\u091f\u0928\u093e \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u090f\u0915 \u0936\u0947\u092f\u0930 \u0915\u0941\u091b \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902 \u092c\u0926\u0932 \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u092e\u0947\u0902 \u092d\u0940 \u092c\u094b\u0928\u0938 \u0915\u0940 \u0924\u0930\u0939 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u092c\u0922\u093c \u091c\u093e\u0924\u0940 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0928\u093f\u0935\u0947\u0936 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0914\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0948\u092a\u093f\u091f\u0932\u093e\u0907\u091c\u0947\u0936\u0928 \u0928\u0939\u0940\u0902 \u092c\u0926\u0932\u0924\u093e\u0964 \u0938\u094d\u091f\u0949\u0915 \u0938\u094d\u092a\u094d\u0932\u093f\u091f \u0936\u0947\u092f\u0930 \u0915\u0947 \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0936\u0947\u092f\u0930 \u0915\u0940 \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942 10 \u0930\u0941\u092a\u092f\u0947 \u0939\u0948 \u0914\u0930 1:2 \u0915\u0947 \u0905\u0928\u0941\u092a\u093e\u0924 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0938\u094d\u092a\u094d\u0932\u093f\u091f \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0936\u0947\u092f\u0930 \u0915\u0940 \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942 5 \u0930\u0941\u092a\u092f\u0947 \u0939\u094b \u091c\u093e\u090f\u0917\u0940 \u0914\u0930 \u0905\u0917\u0930 \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u090f\u0915 \u0936\u0947\u092f\u0930 \u0925\u093e \u0924\u094b \u0905\u092c \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u0926\u094b \u0936\u0947\u092f\u0930 \u0939\u094b \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u0907\u0938 \u0938\u093e\u0930\u0923\u0940 \u0938\u0947 \u0906\u092a\u0915\u094b \u092f\u0947 \u092c\u093e\u0924 \u0914\u0930 \u0938\u093e\u092b \u0939\u094b \u091c\u093e\u090f\u0917\u0940\u0964", "\u092c\u094b\u0928\u0938 \u0907\u0936\u094d\u092f\u0942 \u0915\u0940 \u0924\u0930\u0939 \u0939\u0940 \u0938\u094d\u091f\u0949\u0915 \u0938\u094d\u092a\u094d\u0932\u093f\u091f \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u092d\u0940 \u0914\u0930 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0940 \u092d\u093e\u0917\u0940\u0926\u093e\u0930\u0940 \u092c\u0922\u093c\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u092a\u0942\u0902\u091c\u0940 \u091c\u0941\u091f\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0930\u0924\u0940 \u0939\u0948\u0902\u0964 \u0905\u0902\u0924\u0930 \u092c\u0938 \u0907\u0924\u0928\u093e \u0939\u0948 \u0915\u093f \u091c\u0939\u093e\u0901 \u092a\u092c\u094d\u0932\u093f\u0915 \u0907\u0936\u094d\u092f\u0942 \u0928\u090f \u0928\u093f\u0935\u0947\u0936\u0915 \u0932\u093e\u0924\u093e \u0939\u0948 \u0935\u0939\u0940\u0902 \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u092e\u0947\u0902 \u092e\u094c\u091c\u0942\u0926\u093e \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0938\u0947 \u0939\u0940 \u092a\u0948\u0938\u093e \u091c\u0941\u091f\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u0924\u0930\u0939 \u0938\u0947 \u0906\u092a \u0907\u0938\u0947 \u0915\u0941\u091b \u0916\u093e\u0938 \u0932\u094b\u0917\u094b\u0902 (\u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902) \u0915\u0947 \u0932\u093f\u090f \u0932\u093e\u092f\u093e \u0917\u092f\u093e \u092a\u092c\u094d\u0932\u093f\u0915 \u0907\u0936\u094d\u092f\u0942 \u092e\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0941\u091b \u0928\u092f\u093e \u0915\u093e\u092e \u0915\u0930\u0928\u0947 \u091c\u093e \u0930\u0939\u0940 \u0939\u0948\u0964 \u092a\u0941\u0930\u093e\u0928\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915 \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u092e\u094c\u091c\u0942\u0926 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0947 \u0905\u0928\u0941\u092a\u093e\u0924 \u092e\u0947\u0902 \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u0938\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 1:4 \u0915\u0947 \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 4 \u0936\u0947\u092f\u0930 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u090f\u0915 \u0914\u0930 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u0947\u0902 \u0939\u0948\u0902\u0964 \u090f\u0915 \u0916\u093e\u0938 \u092c\u093e\u0924 \u092f\u0947 \u0915\u093f \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092d\u093e\u0935 \u0938\u0947 \u0928\u0940\u091a\u0947 \u092e\u093f\u0932\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0935\u0948\u0938\u0947 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u094b \u0915\u0947\u0935\u0932 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092e\u093f\u0932 \u0930\u0939\u0940 \u091b\u0942\u091f \u0928\u0939\u0940\u0902 \u0926\u0947\u0916\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u092f\u0947 \u092c\u094b\u0928\u0938 \u0936\u0947\u092f\u0930 \u0928\u0939\u0940\u0902 \u0939\u0948 \u092f\u0939\u093e\u0901 \u0906\u092a \u0936\u0947\u092f\u0930 \u0915\u0947 \u0932\u093f\u090f \u092a\u0948\u0938\u0947 \u0926\u0947 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0940\u0932\u093f\u090f \u0906\u092a\u0915\u094b \u092a\u0948\u0938\u0947 \u0924\u092d\u0940 \u0932\u0917\u093e\u0928\u0947 \u091a\u093e\u0939\u093f\u090f \u091c\u092c \u0906\u092a \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u094b \u0932\u0947 \u0915\u0930 \u0938\u0902\u0924\u0941\u0937\u094d\u091f \u0939\u094b\u0902\u0964", "\u090f\u0915 \u0914\u0930 \u092c\u093e\u0924, \u0905\u0917\u0930 \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u0915\u0947 \u092a\u0939\u0932\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0917\u093f\u0930 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u0915\u0940 \u0907\u0936\u094d\u092f\u0942 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0928\u0940\u091a\u0947 \u091a\u0932\u0940 \u091c\u093e\u090f \u0924\u094b \u0936\u0947\u092f\u0930 \u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u0916\u0930\u0940\u0926\u0928\u093e \u091c\u094d\u092f\u093e\u0926\u093e \u0920\u0940\u0915 \u0930\u0939\u0947\u0917\u093e\u0964", "\u092c\u093e\u092f \u092c\u0948\u0915 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u0916\u0941\u0926 \u0916\u0930\u0940\u0926\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0916\u0941\u0926 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u0947\u0916\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u092f \u092c\u0948\u0915 \u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u092e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0947 \u0915\u093e\u0930\u092a\u094b\u0930\u0947\u091f \u092b\u0947\u0930\u092c\u0926\u0932 \u0915\u093e \u092d\u0940 \u090f\u0915 \u0924\u0930\u0940\u0915\u093e \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u092f \u092c\u0948\u0915 \u0915\u0940 \u0914\u0930 \u092d\u0940 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u0935\u091c\u0939\u0947\u0902 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0902..", "", "\u092c\u093e\u092f\u092c\u0948\u0915 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0906\u0924\u094d\u092e\u0935\u093f\u0936\u094d\u0935\u093e\u0938 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0915\u0940 \u0918\u094b\u0937\u0923\u093e \u0938\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "", "", "Thanks", "Karthik sir", "kya aapne khud translation kiya hai?", "No Sir, we took external help. Do you like the translation?", "Yes sir", "Bahut badhiya translation \ud83d\udc4c", "Please translate your all module in Hindi as soon as possible because I am very poor in English.", "You can understand by my typing \ud83d\ude09", "Thanks, we are working towards it \ud83d\ude42", "Thank u sir\nGod bless you\nKeep uploading hindi module", "\u0938\u0930, \u0905\u0917\u0930 \u0906\u092a \u0938\u092d\u0940 \u092e\u093e\u0921\u094d\u092f\u0942\u0932 \u0939\u093f\u0928\u094d\u0926\u0940 \u092e\u0947 \u0905\u092a\u0932\u094b\u0921 \u0915\u0930 \u0926\u0947\u0924\u0947 \u0924\u094b \u0906\u092a\u0915\u0940 \u092e\u0939\u093e\u0928 \u0915\u0943\u092a\u093e \u0939\u094b\u0924\u0940 \u0964 \u092c\u0939\u0941\u0924 \u092c\u0939\u0941\u0924 \u0927\u0928\u094d\u092f\u092c\u093e\u0926 \u0938\u0930 \u0964", "Hi \u092e\u0902\u091c\u0940\u0924, \u0939\u092e \u091c\u0932\u094d\u0926 \u0939\u0940 \u0914\u0930 \u092e\u0949\u0921\u094d\u092f\u0942\u0932\u094d\u0938 \u0905\u092a\u0932\u094b\u0921 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0947 \u0939\u0948\u0902\u0964 \u0915\u0941\u091b \u092e\u0939\u0940\u0928\u094b \u092e\u0947\u0902 \u0938\u093e\u0930\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932\u094d\u0938 \u0906\u092a \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u092a\u095d \u092a\u093e\u090f\u0902\u0917\u0947\u0964 \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/Ch11title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/dividend1.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/ch11-diagram.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/bonus-issue.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/stocksplit.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/rightissue1.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/buyback.png", "https://secure.gravatar.com/avatar/92f2b563c0080ec7c97e1a5f7ffa9d8c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ceced81a2f970be40db6decbde775f40?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ceced81a2f970be40db6decbde775f40?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f0aa2d0b58339801b0fb34b97577824d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f86db9833124037a6a8a81cf307b7340?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u092c\u094b\u0928\u0938 \u0907\u0936\u094d\u092f\u0942</th>\n<th>\u092c\u094b\u0928\u0938 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0936\u0947\u092f\u0930 \u0938\u0902\u0916\u094d\u092f\u093e</th>\n<th>\u092c\u094b\u0928\u0938 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940\u092e\u0924</th>\n<th>\u0928\u093f\u0935\u0947\u0936 \u0915\u0940 \u0915\u0940\u092e\u0924</th>\n<th>\u092c\u094b\u0928\u0938 \u0915\u0947 \u092c\u093e\u0926 \u0936\u0947\u092f\u0930 \u0938\u0902\u0916\u094d\u092f\u093e</th>\n<th>\u092c\u094b\u0928\u0938 \u0915\u0947 \u092c\u093e\u0926 \u0936\u0947\u092f\u0930 \u0915\u0940\u092e\u0924</th>\n<th>\u0928\u093f\u0935\u0947\u0936 \u0915\u0940 \u0915\u0940\u092e\u0924</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1:1</td>\n<td>100</td>\n<td>75</td>\n<td>7500</td>\n<td>200</td>\n<td>37.5</td>\n<td>7500</td>\n</tr>\n<tr>\n<td>3:1</td>\n<td>30</td>\n<td>550</td>\n<td>16500</td>\n<td>120</td>\n<td>137.5</td>\n<td>16,500</td>\n</tr>\n<tr>\n<td>5:1</td>\n<td>2000</td>\n<td>15</td>\n<td>30000</td>\n<td>12000</td>\n<td>2.5</td>\n<td>30000</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0938\u094d\u092a\u094d\u0932\u093f\u091f \u0905\u0928\u0941\u092a\u093e\u0924</th>\n<th>\u092a\u0941\u0930\u093e\u0928\u093e \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942</th>\n<th>\u0938\u094d\u092a\u094d\u0932\u093f\u091f \u0915\u0947 \u092a\u0939\u0932\u0947 \u0936\u0947\u092f\u0930 \u0938\u0902\u0916\u094d\u092f\u093e</th>\n<th>\u0938\u094d\u092a\u094d\u0932\u093f\u091f \u0915\u0947 \u092a\u0939\u0932\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940\u092e\u0924</th>\n<th>\u0928\u093f\u0935\u0947\u0936 \u0915\u0940 \u0915\u0940\u092e\u0924</th>\n<th>\u0928\u092f\u093e \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942</th>\n<th>\u0938\u094d\u092a\u094d\u0932\u093f\u091f \u0915\u0947 \u092c\u093e\u0926 \u0936\u0947\u092f\u0930 \u0938\u0902\u0916\u094d\u092f\u093e</th>\n<th>\u0938\u094d\u092a\u094d\u0932\u093f\u091f \u0915\u0947 \u092c\u093e\u0926 \u0936\u0947\u092f\u0930 \u0915\u0940\u092e\u0924</th>\n<th>\u0938\u094d\u092a\u094d\u0932\u093f\u091f \u0915\u0947 \u092c\u093e\u0926 \u0928\u093f\u0935\u0947\u0936 \u0915\u0940 \u0915\u0940\u092e\u0924</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1:2</td>\n<td>10</td>\n<td>100</td>\n<td>900</td>\n<td>90,000</td>\n<td>5</td>\n<td>200</td>\n<td>450</td>\n<td>90,000</td>\n</tr>\n<tr>\n<td>1:5</td>\n<td>10</td>\n<td>100</td>\n<td>900</td>\n<td>90,000</td>\n<td>2</td>\n<td>500</td>\n<td>180</td>\n<td>90,000</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "12. \u0915\u0941\u091b \u0906\u0930\u094d\u0925\u093f\u0915 \u0918\u091f\u0928\u093e\u090f\u0902 \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u092a\u0930 \u0909\u0928\u0915\u093e \u0905\u0938\u0930", "text": ["", "\u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0938\u092b\u0932 \u0939\u094b\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0938\u093f\u0930\u094d\u092b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0928\u0924\u0940\u091c\u094b\u0902 \u0915\u094b \u0939\u0940 \u0928\u0939\u0940\u0902 \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0924\u093e, \u0906\u092a\u0915\u094b \u0909\u0928 \u0918\u091f\u0928\u093e\u0913\u0902 \u092a\u0930 \u092d\u0940 \u0928\u091c\u0930 \u0930\u0916\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u094b \u092c\u093e\u091c\u093e\u0930 \u092a\u0930 \u0905\u0938\u0930 \u0921\u093e\u0932\u0924\u0940 \u0939\u0948\u0902\u0964 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0914\u0930 \u0917\u0948\u0930 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0918\u091f\u0928\u093e\u090f\u0902 \u0910\u0938\u0940 \u0939\u0948\u0902 \u091c\u093f\u0928 \u0915\u093e \u0905\u0938\u0930 \u092c\u093e\u091c\u093e\u0930 \u092a\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u0910\u0938\u0940 \u0915\u0941\u091b \u0918\u091f\u0928\u093e\u0913\u0902 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947\u0964", "", "\u0930\u093f\u091c\u0930\u094d\u0935 \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e \u092f\u093e\u0928\u0940 \u0906\u0930\u092c\u0940\u0906\u0908 (RBI ) \u092e\u0949\u0928\u093f\u091f\u0930\u0940 \u092a\u0949\u0932\u093f\u0938\u0940 \u0932\u093e\u0915\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092a\u0948\u0938\u0947 \u0915\u0940 \u0938\u092a\u094d\u0932\u093e\u0908 \u0915\u094b \u0928\u093f\u092f\u0902\u0924\u094d\u0930\u093f\u0924 \u0915\u0930\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938 \u0915\u0947 \u0932\u093f\u090f \u0935\u0939 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u094b\u0902 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0906\u0930\u092c\u0940\u0906\u0908 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u094b\u0902 \u092e\u0947\u0902 \u092b\u0947\u0930\u092c\u0926\u0932 \u0915\u0930\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0928\u0915\u0926\u0940 \u0915\u0940 \u0938\u092a\u094d\u0932\u093e\u0908 \u092c\u0922\u093c \u092f\u093e \u0918\u091f \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0906\u0930\u092c\u0940\u0906\u0908 \u092d\u093e\u0930\u0924 \u0915\u093e \u0915\u093e \u0938\u0947\u0902\u091f\u094d\u0930\u0932 \u092c\u0948\u0902\u0915 \u0939\u0948, \u0926\u0941\u0928\u093f\u092f\u093e \u0915\u0947 \u0939\u0930 \u0926\u0947\u0936 \u092e\u0947\u0902 \u0935\u0939\u093e\u0901 \u0915\u093e \u0938\u0947\u0902\u091f\u094d\u0930\u0932 \u092c\u0948\u0902\u0915 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u094b\u0902 \u0915\u094b \u0928\u093f\u0930\u094d\u0927\u093e\u0930\u093f\u0924 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u092c\u094d\u092f\u093e\u091c \u0926\u0930\u094b\u0902 \u0915\u094b \u0924\u092f \u0915\u0930\u0924\u0947 \u0939\u0941\u090f \u0906\u0930\u092c\u0940\u0906\u0908 \u0915\u094b \u092f\u0939 \u092d\u0940 \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u093f\u0915\u093e\u0938 \u092e\u0947\u0902 \u0914\u0930 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u092e\u0947\u0902 \u0938\u0902\u0924\u0941\u0932\u0928 \u092c\u0928\u093e \u0930\u0939\u0947\u0964", "\u092c\u094d\u092f\u093e\u091c \u0926\u0930\u0947\u0902 \u090a\u092a\u0930 \u0930\u0939\u0947\u0902\u0917\u0940 \u0924\u094b \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0915\u0930\u094d\u091c \u0932\u0947\u0928\u093e \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0939\u094b \u091c\u093e\u090f\u0917\u093e \u0914\u0930 \u0915\u0930\u094d\u091c \u0928\u0939\u0940\u0902 \u092e\u093f\u0932\u0947\u0917\u093e \u0924\u094b \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u093e \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0940 \u0924\u0930\u092b \u0938\u0947 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0927\u0940\u092e\u0940 \u092a\u0921\u093c \u091c\u093e\u090f\u0917\u0940\u0964", "\u0926\u0942\u0938\u0930\u0940 \u0924\u0930\u092b, \u0905\u0917\u0930 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u0947\u0902 \u0915\u092e \u0930\u0939\u0947\u0902\u0917\u0940 \u0924\u094b \u0915\u0930\u094d\u091c \u092e\u093f\u0932\u0928\u093e \u0906\u0938\u093e\u0928 \u0939\u094b \u091c\u093e\u090f\u0917\u093e \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0939\u093e\u0925 \u092e\u0947\u0902 \u0914\u0930 \u0917\u094d\u0930\u093e\u0939\u0915\u094b\u0902 \u0915\u0947 \u0939\u093e\u0925 \u092e\u0947\u0902 \u092d\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0928\u0915\u0926 \u0930\u0939\u0947\u0917\u093e\u0964 \u091c\u092c \u0932\u094b\u0917\u094b\u0902 \u0915\u0947 \u0939\u093e\u0925 \u092e\u0947\u0902 \u091c\u094d\u092f\u093e\u0926\u093e \u092a\u0948\u0938\u0947 \u0939\u094b\u0902\u0917\u0947 \u0924\u094b \u0935\u0939 \u091c\u094d\u092f\u093e\u0926\u093e \u0916\u0930\u094d\u091a \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0907\u0938\u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0909\u0920\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0932 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0905\u092a\u0928\u0940 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c\u093e \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u094d\u0924\u0930\u0940 \u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0906 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0935\u093f\u0915\u093e\u0938 \u0914\u0930 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u0947 \u0907\u0938\u0940 \u0938\u0902\u0924\u0941\u0932\u0928 \u0915\u094b \u092c\u0928\u093e\u090f \u0930\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u0930\u092c\u0940\u0906\u0908 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u091a\u0940\u091c\u094b\u0902 \u092a\u0930 \u0935\u093f\u091a\u093e\u0930 \u0915\u0930\u0915\u0947 \u0939\u0940 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u0947\u0902 \u0924\u092f \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0905\u0917\u0930 \u092f\u0947 \u0926\u0930\u0947\u0902 \u0938\u0902\u0924\u0941\u0932\u093f\u0924 \u0928\u0939\u0940\u0902 \u0930\u0939\u0940 \u0924\u094b \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092e\u0947\u0902 \u0917\u0921\u093c\u092c\u0921\u093c\u0940 \u0906 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0906\u0930\u092c\u0940\u0906\u0908 \u0915\u0940 \u091c\u093f\u0928 \u0926\u0930\u094b\u0902 \u092a\u0930 \u0906\u092a\u0915\u094b \u0928\u091c\u0930 \u0930\u0916\u0928\u0940 \u091a\u093e\u0939\u093f\u090f \u0935\u094b \u0939\u0948\u0902:", "\u0930\u0947\u092a\u094b \u0930\u0947\u091f (Repo Rate)- \u092c\u0948\u0902\u0915\u094b\u0902 \u0915\u094b \u091c\u092c \u0915\u0930\u094d\u091c \u091a\u093e\u0939\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0935\u0939 \u0906\u0930\u092c\u0940\u0906\u0908 \u0938\u0947 \u0915\u0930\u094d\u091c \u0932\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u0930\u092c\u0940\u0906\u0908 \u091c\u093f\u0938 \u0926\u0930 \u092a\u0930 \u092c\u0948\u0902\u0915\u094b\u0902 \u0915\u094b \u0915\u0930\u094d\u091c \u0926\u0947\u0924\u093e \u0939\u0948 \u0909\u0938 \u0926\u0930 \u0915\u094b \u0930\u0947\u092a\u094b \u0930\u0947\u091f \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u0930\u0947\u092a\u094b \u0930\u0947\u091f \u090a\u0901\u091a\u093e \u0939\u0948 \u0924\u094b \u0915\u0930\u094d\u091c \u0932\u0947\u0928\u093e \u092e\u0939\u0902\u0917\u093e \u0939\u094b\u0917\u093e \u0914\u0930 \u0915\u092e \u0915\u0930\u094d\u091c \u0932\u093f\u092f\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u0907\u0938\u0938\u0947 \u0935\u093f\u0915\u093e\u0938 \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0927\u0940\u092e\u0940 \u092a\u0921\u093c \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0905\u092d\u0940 \u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u0930\u0947\u092a\u094b \u0930\u0947\u091f 8% \u0939\u0948\u0964 \u0930\u093f\u091c\u0930\u094d\u0935 \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e \u092f\u093e\u0928\u0940 \u0906\u0930\u092c\u0940\u0906\u0908 \u0926\u094d\u0935\u093e\u0930\u093e \u0930\u0947\u092a\u094b \u0930\u0947\u091f \u092c\u0922\u093c\u093e\u092f\u093e \u091c\u093e\u0928\u093e \u092c\u0948\u0902\u0915\u094b\u0902 \u0915\u094b \u092a\u0938\u0902\u0926 \u0928\u0939\u0940\u0902 \u0906\u0924\u093e \u0939\u0948\u0964", "\u0930\u093f\u0935\u0930\u094d\u0938 \u0930\u0947\u092a\u094b \u0930\u0947\u091f (Reverse Repo Rate)- \u0930\u093f\u0935\u0930\u094d\u0938 \u0930\u0947\u092a\u094b \u0930\u0947\u091f \u0935\u0939 \u092c\u094d\u092f\u093e\u091c \u0926\u0930 \u0939\u0948 \u091c\u093f\u0938 \u0926\u0930 \u092a\u0930 \u0906\u0930\u092c\u0940\u0906\u0908 \u092c\u0948\u0902\u0915\u094b\u0902 \u0938\u0947 \u0915\u0930\u094d\u091c \u0932\u0947\u0924\u093e \u0939\u0948\u0964 \u091c\u092c \u0930\u093f\u091c\u0930\u094d\u0935 \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e \u092c\u0948\u0902\u0915\u094b\u0902 \u0938\u0947 \u0915\u0930\u094d\u091c \u0932\u0947\u0924\u093e \u0939\u0948 \u0924\u094b \u092c\u0948\u0902\u0915 \u0916\u0941\u0936\u0940-\u0916\u0941\u0936\u0940 \u0938\u0947 \u0915\u0930\u094d\u091c \u0926\u0947 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0928\u0915\u094b \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u0930\u092c\u0940\u0906\u0908 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0928\u0939\u0940\u0902 \u0915\u0930\u0947\u0917\u093e \u092f\u093e\u0928\u0940 \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e \u0915\u093f \u0906\u0930\u092c\u0940\u0906\u0908 \u0915\u0930\u094d\u091c \u0915\u093e \u092d\u0941\u0917\u0924\u093e\u0928 \u0928 \u0915\u0930\u0947, \u091c\u092c\u0915\u093f \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u092f\u093e \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u091f \u0915\u094b \u0915\u0930\u094d\u091c \u0926\u0947\u0928\u0947 \u0915\u0947 \u0938\u092e\u092f \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u093e \u0916\u0924\u0930\u093e \u092c\u0928\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u091c\u092c \u092c\u0948\u0902\u0915 \u0930\u093f\u091c\u0930\u094d\u0935 \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e \u0915\u094b \u0915\u0930\u094d\u091c \u0926\u0947 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0928\u0915\u0926\u0940 \u0915\u0940 \u0938\u092a\u094d\u0932\u093e\u0908 \u0915\u092e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u094b \u0915\u0930\u094d\u091c \u092e\u093f\u0932\u0928\u0947 \u092e\u0947\u0902 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0939\u094b\u0928\u0947 \u0932\u0917\u0924\u0940 \u0939\u0948\u0964 \u0930\u093f\u0935\u0930\u094d\u0938 \u0930\u0947\u092a\u094b \u0930\u0947\u091f \u0915\u0940 \u0926\u0930 \u0915\u093e \u090a\u0902\u091a\u093e \u0939\u094b\u0928\u093e \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u093e \u0928\u0939\u0940\u0902 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u0938\u0947 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u094b \u0915\u0930\u094d\u091c \u092e\u093f\u0932\u0928\u0947 \u092e\u0947\u0902 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0905\u092d\u0940 \u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u0930\u093f\u0935\u0930\u094d\u0938 \u0930\u0947\u092a\u094b \u0930\u0947\u091f \u0915\u0940 \u0926\u0930 7 \u092a\u0930\u0938\u0947\u0902\u091f \u0939\u0948\u0964", "\u0915\u0948\u0936 \u0930\u093f\u091c\u0930\u094d\u0935 \u0930\u0947\u0936\u094d\u092f\u094b ( Cash Reserve Ratio- CRR)- \u0939\u0930 \u092c\u0948\u0902\u0915 \u0915\u094b \u0906\u0930\u092c\u0940\u0906\u0908 \u0915\u0947 \u092a\u093e\u0938 \u0915\u0941\u091b \u0928\u0915\u0926\u0940 \u0930\u0916\u0928\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u092f\u0939 \u0930\u0915\u092e \u0915\u093f\u0924\u0928\u0940 \u0939\u094b\u0917\u0940, \u092f\u0939 \u0907\u0938 \u092c\u093e\u0924 \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0924\u0940 \u0939\u0948 \u0915\u093f \u0938\u0940\u0906\u0930\u0906\u0930 \u2013 CRR \u092f\u093e\u0928\u0940 \u0915\u0948\u0936 \u0930\u093f\u091c\u0930\u094d\u0935 \u0930\u0947\u0936\u094d\u092f\u094b \u0915\u093f\u0924\u0928\u093e \u0939\u0948 \u0905\u0917\u0930 \u0915\u0948\u0936 \u0930\u093f\u091c\u0930\u094d\u0935 \u0930\u0947\u0936\u094d\u092f\u094b \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u091c\u094d\u092f\u093e\u0926\u093e \u0928\u0915\u0926\u0940 \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u0928\u093f\u0915\u0932\u0915\u0930 \u0906\u0930\u092c\u0940\u0906\u0908 \u0915\u0947 \u092a\u093e\u0938 \u091a\u0932\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0910\u0938\u093e \u0939\u094b\u0928\u093e \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u093e \u0928\u0939\u0940\u0902 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0906\u0930\u092c\u0940\u0906\u0908 \u0939\u0930 2 \u092e\u0939\u0940\u0928\u0947 \u092a\u0930 \u0907\u0928 \u0926\u0930\u094b\u0902 \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u092a\u0930 \u0935\u093f\u091a\u093e\u0930 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0907\u0938 \u092c\u0948\u0920\u0915 \u0914\u0930 \u0907\u0938\u0915\u0947 \u092b\u0948\u0938\u0932\u094b\u0902 \u092a\u0930 \u0928\u091c\u0930 \u0930\u0916\u0924\u093e \u0939\u0948\u0964 \u0930\u0947\u091f \u0938\u0947\u0902\u0938\u093f\u091f\u093f\u0935 \u092f\u093e\u0928\u0940 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u094b\u0902 \u0938\u0947 \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u0936\u0947\u092f\u0930 \u0906\u0930\u092c\u0940\u0906\u0908 \u0915\u0947 \u0907\u0938 \u092b\u0948\u0938\u0932\u0947 \u0938\u0947 \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u0907\u0928\u092e\u0947\u0902 \u092c\u0948\u0902\u0915\u093f\u0902\u0917 \u0938\u0947\u0915\u094d\u091f\u0930, \u0911\u091f\u094b\u092e\u094b\u092c\u093e\u0907\u0932 \u0938\u0947\u0915\u094d\u091f\u0930, \u0939\u093e\u0909\u0938\u093f\u0902\u0917 \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0914\u0930 \u0930\u093f\u092f\u0932 \u090f\u0938\u094d\u091f\u0947\u091f \u091c\u0948\u0938\u0947 \u0938\u0947\u0915\u094d\u091f\u0930 \u0936\u093e\u092e\u093f\u0932 \u0939\u0948\u0902\u0964", "\u0935\u0938\u094d\u0924\u0941\u0913\u0902 \u0914\u0930 \u0938\u0947\u0935\u093e\u0913\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0940 \u0932\u0917\u093e\u0924\u093e\u0930 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0915\u094b \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f (Inflation) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u090a\u092a\u0930 \u0939\u094b\u0928\u0947 \u092a\u0930 \u0930\u0941\u092a\u092f\u0947 \u0915\u0940 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0924\u093e\u0915\u0924 \u0915\u092e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u092f\u093e\u0928\u0940 \u0939\u0930 \u090f\u0915 \u0930\u0941\u092a\u092f\u0947 \u0938\u0947 \u0915\u092e \u0938\u093e\u092e\u093e\u0928 \u092f\u093e \u0938\u0947\u0935\u093e\u090f\u0902 \u0916\u0930\u0940\u0926\u0940 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0926\u0947\u0936 \u092e\u0947\u0902 \u0914\u0930 \u0915\u0941\u091b \u0928\u0939\u0940\u0902 \u092c\u0926\u0932\u093e \u0939\u0948 \u0914\u0930 \u092a\u094d\u092f\u093e\u091c \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 15 \u0930\u0941\u092a\u092f\u0947 \u0938\u0947 \u092c\u0922\u093c\u0915\u0930 20 \u0930\u0941\u092a\u092f\u0947 \u0939\u094b \u0917\u0908 \u0939\u0948\u0902 \u0924\u094b \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u094b \u0907\u0938 \u0915\u0940 \u0935\u091c\u0939 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u090f\u0915 \u0906\u092e \u0918\u091f\u0928\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u090a\u0902\u091a\u0940 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u0940 \u0926\u0930 \u0915\u094b \u0905\u091a\u094d\u091b\u093e \u0928\u0939\u0940\u0902 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092e\u0947\u0902 \u0926\u092c\u093e\u0935 \u0906 \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0938\u0930\u0915\u093e\u0930 \u0939\u092e\u0947\u0936\u093e \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0940 \u0939\u0948 \u0915\u093f \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u0940 \u0926\u0930 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0938\u0940\u092e\u093e \u0938\u0947 \u090a\u092a\u0930 \u0928\u093e \u0939\u094b \u092a\u093e\u090f\u0964 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u094b \u0928\u093e\u092a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0909\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u0915\u093f\u0924\u0928\u0947 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0915\u0940 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u092f\u093e \u0915\u092e\u0940 \u0939\u0941\u0908 \u0939\u0948 \u0909\u0938\u0940 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u094b \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u091c\u093e\u0924\u093e \u0939\u0941\u0906 \u092c\u0924\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u094b \u0928\u093e\u092a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 2 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u2013 \u0939\u094b\u0932\u0938\u0947\u0932 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092f\u093e\u0928\u0940 \u0921\u092c\u094d\u0932\u0942 \u092a\u0940 \u0906\u0908 (WPI) \u0914\u0930 \u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092f\u093e\u0928\u0940 \u0938\u0940 \u092a\u0940 \u0906\u0908 (CPI).", "\u0939\u094b\u0932\u0938\u0947\u0932 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 (WPI)- \u0939\u094b\u0932\u0938\u0947\u0932 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0939\u094b\u0932\u0938\u0947\u0932 \u092f\u093e\u0928\u0940 \u0925\u094b\u0915 \u0938\u094d\u0924\u0930 \u092a\u0930 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u092c\u0926\u0932\u093e\u0935 \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0909\u0938 \u0915\u0940\u092e\u0924 \u0915\u094b \u091f\u094d\u0930\u0948\u0915 \u0915\u0930\u0924\u093e \u0939\u0948 \u091c\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u090f\u0915 \u0938\u0902\u0938\u094d\u0925\u093e \u092f\u093e \u0915\u0902\u092a\u0928\u0940 \u0926\u0942\u0938\u0930\u0940 \u0938\u0902\u0938\u094d\u0925\u093e \u092f\u093e \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0938\u093e\u092e\u093e\u0928 \u092c\u0947\u091a\u0924\u0940 \u0939\u0948\u0964 \u092f\u0939 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0917\u094d\u0930\u093e\u0939\u0915 \u092f\u093e\u0928\u0940 \u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u0915\u094b \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u091f\u094d\u0930\u0948\u0915 \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u093e\u0964 \u0939\u094b\u0932\u0938\u0947\u0932 \u092f\u093e\u0928\u0940 \u0925\u094b\u0915 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0907\u0928\u094d\u092b\u094d\u0932\u0947\u0936\u0928 \u092f\u093e\u0928\u0940 \u092e\u0939\u0902\u0917\u093e\u0908 \u0928\u093e\u092a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u094b\u0932\u0938\u0947\u0932 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092f\u093e\u0928\u0940 \u0921\u092c\u094d\u0932\u094d\u092f\u0942 \u092a\u0940 \u0906\u0908 (WPI) \u090f\u0915 \u0906\u0938\u093e\u0928 \u0924\u0930\u0940\u0915\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0938\u0947 \u0909\u0938 \u0907\u0928\u094d\u092b\u094d\u0932\u0947\u0936\u0928 \u0915\u093e \u092a\u0924\u093e \u0928\u0939\u0940\u0902 \u091a\u0932\u0924\u093e \u091c\u094b \u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u092f\u093e\u0928\u0940 \u0917\u094d\u0930\u093e\u0939\u0915 \u0915\u0947 \u0932\u093f\u090f \u0939\u0948\u0964", "\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u094b \u0932\u093f\u0916\u0924\u0947 \u0935\u0915\u094d\u0924 \u092e\u0908 2014 \u0915\u0947 \u0932\u093f\u090f \u0921\u092c\u094d\u0932\u0942 \u092a\u0940 \u0906\u0908 6.01% \u0925\u093e\u0964", "\u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 (\u0938\u0940 \u092a\u0940 \u0906\u0908/ CPI)-\u00a0 \u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092f\u093e \u0938\u0940 \u092a\u0940 \u0906\u0908 \u0930\u093f\u091f\u0947\u0932 \u092f\u093e\u0928\u0940 \u0916\u0941\u0926\u0930\u093e \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u0926\u0932\u093e\u0935 \u0915\u094b \u091f\u094d\u0930\u0948\u0915 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u0917\u094d\u0930\u093e\u0939\u0915 \u0915\u0947 \u0932\u093f\u090f \u092f\u093e \u0906\u092e \u0906\u0926\u092e\u0940 \u0915\u0947 \u0932\u093f\u090f \u0938\u0940\u092a\u0940\u0906\u0908 \u092f\u093e \u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u094b \u0928\u093e\u092a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u0917\u0923\u0928\u093e\u090f\u0902 \u0915\u0930\u0928\u0940 \u092a\u0921\u093c\u0924\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u092e\u0947\u0902 \u0909\u092a\u092d\u094b\u0917 \u0915\u094b \u0917\u094d\u0930\u093e\u092e\u0940\u0923 \u0914\u0930 \u0936\u0939\u0930\u0940 \u0924\u0925\u093e \u0907\u0938 \u0924\u0930\u0939 \u0915\u0940 \u0914\u0930 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0935\u0930\u094d\u0917\u094b\u0902 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0939\u0930 \u0935\u0930\u094d\u0917 \u0915\u093e \u0905\u092a\u0928\u093e \u090f\u0915 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0928 \u0938\u093e\u0930\u0947 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u094b \u092e\u093f\u0932\u093e\u0915\u0930 \u090f\u0915 \u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092f\u093e\u0928\u0940 \u0938\u0940\u092a\u0940\u0906\u0908 \u0924\u0948\u092f\u093e\u0930 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902\u0964 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u093e \u0939\u093e\u0932 \u091c\u093e\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u090f\u0915 \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0938\u0942\u091a\u0915\u093e\u0902\u0915 \u0939\u0948\u0964 \u0930\u093e\u0937\u094d\u091f\u094d\u0930\u0940\u092f \u0938\u094d\u0924\u0930 \u092a\u0930 \u0938\u093e\u0902\u0916\u094d\u092f\u093f\u0915\u0940 \u0914\u0930 \u092a\u094d\u0930\u094b\u0917\u094d\u0930\u093e\u092e \u0907\u0902\u092a\u094d\u0932\u0940\u092e\u0947\u0902\u091f\u0947\u0936\u0928 \u092e\u0902\u0924\u094d\u0930\u093e\u0932\u092f \u0939\u0930 \u092e\u0939\u0940\u0928\u0947 \u0915\u0947 \u0926\u0942\u0938\u0930\u0947 \u0938\u092a\u094d\u0924\u093e\u0939 \u092e\u0947\u0902 \u0938\u0940\u092a\u0940\u0906\u0908(CPI) \u0915\u0947 \u0928\u0902\u092c\u0930 \u091c\u093e\u0930\u0940 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "2014 \u0915\u0947 \u092e\u0908 \u092e\u0939\u0940\u0928\u0947 \u0915\u093e \u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 8.28% \u0925\u093e\u0964 \u0907\u0938\u0915\u0947 \u092a\u093f\u091b\u0932\u0947 \u090f\u0915 \u0938\u093e\u0932 \u0915\u0940 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0907\u0938 \u0938\u093e\u0930\u0923\u0940 \u092e\u0947\u0902 \u0926\u0940 \u0917\u0908 \u0939\u0948\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0928\u0935\u0902\u092c\u0930 2013 \u0915\u0947 \u0905\u092a\u0928\u0947 11.16% \u090a\u0902\u091a\u093e\u0908 \u0938\u0947 \u0938\u0940\u092a\u0940\u0906\u0908 \u0907\u0928\u094d\u092b\u094d\u0932\u0947\u0936\u0928 \u0928\u0940\u091a\u0947 \u0906 \u0917\u092f\u093e \u0939\u0948\u0964 \u0906\u0930\u092c\u0940\u0906\u0908 \u092f\u093e\u0928\u0940 \u0930\u093f\u091c\u0930\u094d\u0935 \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e \u0915\u0947 \u0938\u093e\u092e\u0928\u0947 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0940 \u091a\u0941\u0928\u094c\u0924\u0940 \u092f\u0939\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u093f \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u092f\u093e\u0928\u0940 \u0907\u0902\u092b\u094d\u0932\u0947\u0936\u0928 \u0914\u0930 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u094b\u0902 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0915\u0948\u0938\u0947 \u0938\u0902\u0924\u0941\u0932\u0928 \u092c\u0928\u093e\u092f\u093e \u091c\u093e\u090f\u0964 \u0915\u092e \u092c\u094d\u092f\u093e\u091c \u0926\u0930 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u094b \u092c\u0922\u093c\u093e\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u090a\u0902\u091a\u0940 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u0947\u0902 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u094b \u092c\u0922\u093c\u0928\u0947 \u0938\u0947 \u0930\u094b\u0915\u0924\u0940 \u0939\u0948\u0902\u0964", "\u0914\u0926\u094d\u092f\u094b\u0917\u093f\u0915 \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0926\u0930 \u092f\u093e\u0928\u0940 \u0906\u0908\u0906\u0908\u092a\u0940 \u092f\u0939 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u091b\u094b\u091f\u0940 \u0905\u0935\u0927\u093f \u092f\u093e\u0928\u0940 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u092e\u0947\u0902 \u0926\u0947\u0936 \u0915\u093e \u0914\u0926\u094d\u092f\u094b\u0917\u093f\u0915 \u0915\u094d\u0937\u0947\u0924\u094d\u0930 \u0915\u0948\u0938\u093e \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u093e \u0939\u0948\u0964 \u0906\u0908\u0906\u0908\u092a\u0940 \u0915\u0947 \u0906\u0902\u0915\u0921\u093c\u0947 \u092d\u0940 \u0939\u0930 \u092e\u0939\u0940\u0928\u0947 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0915\u0947 \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0915\u0947 \u0938\u093e\u0925 \u0939\u0940 \u091c\u093e\u0930\u0940 \u0915\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0906\u0902\u0915\u0921\u093c\u0947 \u092d\u0940 \u0938\u093e\u0902\u0916\u094d\u092f\u093f\u0915\u0940 \u0914\u0930 \u092a\u094d\u0930\u094b\u0917\u094d\u0930\u093e\u092e \u0907\u0902\u092a\u094d\u0932\u0940\u092e\u0947\u0902\u091f\u0947\u0936\u0928 \u092e\u0902\u0924\u094d\u0930\u093e\u0932\u092f \u091c\u093e\u0930\u0940 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0928\u093e\u092e \u0938\u0947 \u0939\u0940 \u091c\u093e\u0939\u093f\u0930 \u0939\u0948 \u0906\u0908\u0906\u0908\u092a\u0940 \u0926\u0947\u0936 \u092e\u0947\u0902 \u0909\u0926\u094d\u092f\u094b\u0917 \u0915\u094d\u0937\u0947\u0924\u094d\u0930 \u0915\u0947 \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u0906\u0908\u0906\u0908\u092a\u0940 \u092e\u0947\u0902 \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0915\u094b \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u092a\u0948\u092e\u093e\u0928\u0947 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0928\u093e\u092a\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u092d\u0940 \u092d\u093e\u0930\u0924 \u092e\u0947\u0902 2004\u201305 \u0915\u0947 \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0915\u094b \u092a\u0948\u092e\u093e\u0928\u093e \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u092a\u0948\u092e\u093e\u0928\u0947 \u0915\u094b \u092c\u0947\u0938 \u0908\u092f\u0930 (Base Year) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0915\u0930\u0940\u092c 15 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0909\u0926\u094d\u092f\u094b\u0917, \u092e\u0902\u0924\u094d\u0930\u093e\u0932\u092f \u0915\u094b \u0905\u092a\u0928\u0947 \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0915\u093e \u0921\u093e\u091f\u093e \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u0902\u0924\u094d\u0930\u093e\u0932\u092f \u0907\u0928 \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0915\u094b \u0907\u0915\u091f\u094d\u0920\u093e \u0915\u0930\u0915\u0947 \u0906\u0908\u0906\u0908\u092a\u0940 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092c\u0928\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0947 \u091c\u093e\u0930\u0940 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u0906\u0908\u0906\u0908\u092a\u0940 \u092c\u0922\u093c\u0924\u093e \u0939\u0948 \u0924\u094b \u092f\u0939 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0926\u0947\u0936 \u092e\u0947\u0902 \u0909\u0926\u094d\u092f\u094b\u0917 \u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u093e \u0935\u093e\u0924\u093e\u0935\u0930\u0923 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u092c\u0922\u093c\u093e \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u0914\u0930 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0926\u094b\u0928\u094b\u0902 \u0907\u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u092e\u093e\u0928\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u0908\u0906\u0908\u092a\u0940 \u0915\u0947 \u0918\u091f\u0928\u0947 \u0915\u094b \u0905\u091a\u094d\u091b\u093e \u0928\u0939\u0940\u0902 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0947 \u0907\u0938 \u092c\u093e\u0924 \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0926\u0947\u0936 \u092e\u0947\u0902 \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u093e \u092e\u093e\u0939\u094c\u0932 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0914\u0930 \u0907\u0938\u0947 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u0926\u094b\u0928\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0916\u0930\u093e\u092c \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0915\u0941\u0932 \u092e\u093f\u0932\u093e\u0915\u0930 \u0906\u0908\u0906\u0908\u092a\u0940 \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u093e \u0938\u0902\u0915\u0947\u0924 \u0939\u0948 \u0914\u0930 \u0907\u0938\u092e\u0947\u0902 \u0917\u093f\u0930\u093e\u0935\u091f \u090f\u0915 \u092c\u0941\u0930\u093e \u0938\u0902\u0915\u0947\u0924 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u091c\u0948\u0938\u0947-\u091c\u0948\u0938\u0947 \u0914\u0926\u094d\u092f\u094b\u0917\u093f\u0915\u0940\u0915\u0930\u0923 \u092c\u0922\u093c \u0930\u0939\u093e \u0939\u0948 \u0935\u0948\u0938\u0947 \u0935\u0948\u0938\u0947 \u0906\u0908\u0906\u0908\u092a\u0940 \u0915\u093e \u092e\u0939\u0924\u094d\u0935 \u092d\u0940 \u092c\u0922\u093c\u0924\u093e \u091c\u093e \u0930\u0939\u093e \u0939\u0948\u0964", "\u0906\u0908\u0906\u0908\u092a\u0940 \u0915\u093e \u0915\u092e \u0939\u094b\u0928\u093e \u0906\u0930\u092c\u0940\u0906\u0908 \u092f\u093e\u0928\u0940 \u0930\u093f\u091c\u0930\u094d\u0935 \u092c\u0948\u0902\u0915 \u092a\u0930 \u092f\u0939 \u0926\u092c\u093e\u0935 \u092c\u0928\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u094b \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u0947\u0902 \u0915\u092e \u0915\u0930\u0947\u0964", "\u0928\u0940\u091a\u0947 \u0915\u093e \u0917\u094d\u0930\u093e\u092b \u092a\u093f\u091b\u0932\u0947 1 \u0938\u093e\u0932 \u092e\u0947\u0902 \u0906\u0908\u0906\u0908\u092a\u0940 \u092e\u0947\u0902 \u0939\u0941\u090f \u092c\u0926\u0932\u093e\u0935 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964", "", "\u092a\u0930\u091a\u0947\u091c\u093f\u0902\u0917 \u092e\u0948\u0928\u0947\u091c\u0930\u094d\u0938 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092f\u093e\u0928\u0940 PMI \u090f\u0915 \u0910\u0938\u093e \u0938\u0942\u091a\u0915\u093e\u0902\u0915 \u0939\u0948 \u091c\u094b \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0914\u0930 \u0938\u0930\u094d\u0935\u093f\u0938 \u0938\u0947\u0915\u094d\u091f\u0930 \u092e\u0947\u0902 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0917\u0924\u093f\u0935\u093f\u0927\u093f\u092f\u094b\u0902 \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0938\u0942\u091a\u0915\u093e\u0902\u0915 \u090f\u0915 \u0938\u0930\u094d\u0935\u0947 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092c\u0928\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0909\u0928 \u0932\u094b\u0917\u094b\u0902 \u0938\u0947 \u0930\u093e\u092f \u0932\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u091c\u094b \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0932 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0932\u094b\u0917, \u092a\u093f\u091b\u0932\u0947 \u092e\u0939\u0940\u0928\u0947 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u0907\u0938 \u092e\u0939\u0940\u0928\u0947 \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u092c\u0926\u0932\u093e\u0935 \u0906\u092f\u093e \u0939\u0948 \u0909\u0938 \u092a\u0930 \u0905\u092a\u0928\u093e \u0906\u0915\u0932\u0928 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0938\u0947\u0915\u094d\u091f\u0930 \u0915\u0947 \u0932\u093f\u090f \u0905\u0932\u0917 \u0938\u0947 \u0938\u0930\u094d\u0935\u0947 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0938\u0930\u094d\u0935\u093f\u0938 \u0938\u0947\u0915\u094d\u091f\u0930 \u0915\u0947 \u0932\u093f\u090f \u0905\u0932\u0917 \u0938\u0930\u094d\u0935\u0947 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u0926 \u092e\u0947\u0902 \u0926\u094b\u0928\u094b\u0902 \u0938\u0947\u0915\u094d\u091f\u0930 \u0915\u0947 \u0938\u0930\u094d\u0935\u0947 \u0915\u094b \u092e\u093f\u0932\u093e\u0915\u0930 \u090f\u0915 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0924\u0948\u092f\u093e\u0930 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0938\u0930\u094d\u0935\u0947 \u092e\u0947\u0902 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0928\u090f \u0911\u0930\u094d\u0921\u0930, \u0909\u0924\u094d\u092a\u093e\u0926\u0928, \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0909\u092e\u094d\u092e\u0940\u0926\u0947\u0902 \u0914\u0930 \u0930\u094b\u091c\u0917\u093e\u0930 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0942\u091b\u0924\u093e\u091b \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "PMI \u0915\u093e \u0906\u0902\u0915\u0921\u093c\u093e \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 50 \u0915\u0947 \u0906\u0938-\u092a\u093e\u0938 \u0939\u094b\u0924\u093e \u0939\u0948 50 \u0915\u0947 \u090a\u092a\u0930 \u0939\u094b\u0928\u0947 \u092a\u0930 \u092f\u0939 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092c\u0922\u093c \u0930\u0939\u0940 \u0939\u0948 50 \u0915\u0947 \u0928\u0940\u091a\u0947 \u0906\u0902\u0915\u0921\u093c\u093e \u0939\u094b\u0928\u0947 \u092a\u0930 \u092f\u0939 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092e\u0947\u0902 \u0917\u093f\u0930\u093e\u0935\u091f \u0906 \u0930\u0939\u0940 \u0939\u0948\u0964 50 \u0915\u0947 \u0906\u0902\u0915\u0921\u093c\u0947 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092e\u0947\u0902 \u0915\u094b\u0908 \u092c\u0926\u0932\u093e\u0935 \u0928\u0939\u0940\u0902 \u0939\u0941\u0906 \u0939\u0948\u0964", "\u092c\u091c\u091f \u090f\u0915 \u0910\u0938\u0940 \u0918\u091f\u0928\u093e \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u0935\u093f\u0924\u094d\u0924 \u092e\u0902\u0924\u094d\u0930\u093e\u0932\u092f \u0926\u0947\u0936 \u0915\u0940 \u0906\u0930\u094d\u0925\u093f\u0915 \u0939\u093e\u0932\u0924 \u092a\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0935\u093f\u0924\u094d\u0924 \u092e\u0902\u0924\u094d\u0930\u093e\u0932\u092f \u0915\u0940 \u0924\u0930\u092b \u0938\u0947 \u0935\u093f\u0924\u094d\u0924 \u092e\u0902\u0924\u094d\u0930\u0940 \u0926\u0947\u0936 \u0915\u0947 \u0938\u093e\u092e\u0928\u0947 \u092c\u091c\u091f \u0930\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u091c\u091f \u092d\u093e\u0937\u0923 \u092e\u0947\u0902 \u0915\u0908 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0928\u0940\u0924\u093f\u0917\u0924 \u092b\u0948\u0938\u0932\u0947 \u0914\u0930 \u0906\u0930\u094d\u0925\u093f\u0915 \u0938\u0941\u0927\u093e\u0930\u094b\u0902 \u0915\u093e \u090f\u0932\u093e\u0928 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0915\u093e \u0909\u0926\u094d\u092f\u094b\u0917\u094b\u0902 \u092a\u0930 \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0938\u0940\u0927\u093e \u0938\u0940\u0927\u093e \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u092c\u091c\u091f \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u0940 \u090f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0918\u091f\u0928\u093e \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u0915\u094b \u0925\u094b\u0921\u093c\u093e \u0914\u0930 \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 2014 \u0915\u0947 \u092c\u091c\u091f \u092e\u0947\u0902 \u092f\u0939 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0940 \u091c\u093e \u0930\u0939\u0940 \u0925\u0940 \u0915\u093f \u0938\u093f\u0917\u0930\u0947\u091f \u092a\u0930 \u0921\u094d\u092f\u0942\u091f\u0940 \u0914\u0930 \u092c\u0922\u093c\u0947\u0917\u0940\u0964 \u091c\u0948\u0938\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0925\u0940 \u0935\u0948\u0938\u093e \u0939\u0940 \u0939\u0941\u0906 \u0914\u0930 \u0935\u093f\u0924\u094d\u0924 \u092e\u0902\u0924\u094d\u0930\u0940 \u0928\u0947 \u0938\u093f\u0917\u0930\u0947\u091f \u092a\u0930 \u0921\u094d\u092f\u0942\u091f\u0940 \u092c\u0922\u093c\u093e\u0928\u0947 \u0915\u093e \u0910\u0932\u093e\u0928 \u0915\u0930 \u0926\u093f\u092f\u093e\u0964 \u0907\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0938\u093f\u0917\u0930\u0947\u091f \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u092c\u0922\u093c \u0917\u0908\u0902\u0964 \u0938\u093f\u0917\u0930\u0947\u091f \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u092c\u0922\u093c\u0928\u0947 \u0915\u093e \u0905\u0938\u0930 \u0939\u094b\u0917\u093e \u0915\u093f", "\u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u092c\u091c\u091f \u092e\u0947\u0902 \u0921\u094d\u092f\u0942\u091f\u0940 \u092c\u0922\u093c\u0928\u0947 \u0915\u0947 \u0910\u0932\u093e\u0928 \u0915\u0947 \u092c\u093e\u0926 ITC\u00a0 \u0915\u093e \u0936\u0947\u092f\u0930 3.5% \u0928\u0940\u091a\u0947 \u0906 \u0917\u092f\u093e\u0964", "\u092c\u091c\u091f \u090f\u0915 \u0935\u093e\u0930\u094d\u0937\u093f\u0915 \u0918\u091f\u0928\u093e \u0939\u0948\u0964 \u0907\u0938\u0947 \u092b\u0930\u0935\u0930\u0940 \u0915\u0947 \u092e\u0939\u0940\u0928\u0947 \u092e\u0947\u0902 \u092a\u0947\u0936 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0915\u092d\u0940 \u0915\u092d\u0940 \u0928\u0908 \u0938\u0930\u0915\u093e\u0930 \u092c\u0928\u0928\u0947 \u0938\u0947 \u0907\u0938\u092e\u0947\u0902 \u0915\u0941\u091b \u0926\u0947\u0930\u0940 \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0928\u0924\u0940\u091c\u094b\u0902 \u0915\u093e \u0910\u0932\u093e\u0928 \u0936\u093e\u092f\u0926 \u0935\u0939 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0940 \u0918\u091f\u0928\u093e \u0939\u094b\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938 \u092a\u0930 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0924\u0941\u0930\u0902\u0924 \u0905\u092a\u0928\u0940 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0932\u093f\u0938\u094d\u091f\u0947\u0921 \u0939\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0939\u0930 \u0924\u0940\u0938\u0930\u0947 \u092e\u0939\u0940\u0928\u0947 \u092f\u093e\u0928\u0940 \u0939\u0930 \u0915\u094d\u0935\u093e\u0930\u094d\u091f\u0930 \u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0928\u0924\u0940\u091c\u0947 \u092a\u0947\u0936 \u0915\u0930\u0928\u0947 \u092a\u0921\u093c\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0928 \u0924\u093f\u092e\u093e\u0939\u0940 \u0928\u0924\u0940\u091c\u094b\u0902 \u0915\u0947 \u0926\u094c\u0930\u093e\u0928 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u0905\u092a\u0928\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0924\u092e\u093e\u092e \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0926\u0947\u0924\u0940 \u0939\u0948\u0902 \u091c\u0948\u0938\u0947\u2026", "\u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0915\u0941\u091b \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u092f\u0939 \u092d\u0940 \u092c\u0924\u093e\u0924\u0940 \u0939\u0948\u0902 \u0915\u093f \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u0941\u091b \u0924\u093f\u092e\u093e\u0939\u0940 \u092e\u0947\u0902 \u0909\u0928\u0915\u093e \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u0948\u0938\u093e \u0930\u0939\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948, \u0907\u0938\u0947 \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u091f \u0917\u093e\u0907\u0921\u0947\u0902\u0938 \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0939\u0930 \u0924\u093f\u092e\u093e\u0939\u0940 \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0947 \u0928\u0924\u0940\u091c\u0947 \u092a\u0947\u0936 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0940 \u092c\u094d\u0932\u0942 \u091a\u093f\u092a \u0915\u0902\u092a\u0928\u0940 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0939\u092e\u0947\u0936\u093e \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u091f \u0917\u093e\u0907\u0921\u0947\u0902\u0938 \u092d\u0940 \u0926\u0947\u0924\u0940 \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0938\u092d\u0940 \u0916\u093f\u0932\u093e\u0921\u093c\u0940 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 \u0928\u0924\u0940\u091c\u094b\u0902 \u0914\u0930 \u0909\u0938\u0915\u0947 \u0917\u093e\u0907\u0921\u0947\u0902\u0938 \u0915\u094b \u092c\u0939\u0941\u0924 \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0927\u094d\u092f\u093e\u0928 \u0938\u0947 \u0938\u0941\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u0915\u093e \u092a\u0942\u0930\u0947 \u092c\u093e\u091c\u093e\u0930 \u092a\u0930 \u0915\u093e\u092b\u0940 \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0940 \u0938\u093e\u0930\u0923\u0940 \u092e\u0947\u0902 \u0924\u093f\u092e\u093e\u0939\u0940 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0928\u0924\u0940\u091c\u0947 \u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948:", "\u0939\u0930 \u0924\u093f\u092e\u093e\u0939\u0940 \u092e\u0947\u0902 \u091c\u092c \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0928\u0924\u0940\u091c\u094b\u0902 \u0915\u093e \u0910\u0932\u093e\u0928 \u0915\u0930\u0924\u0940 \u0939\u0948 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0909\u0928 \u0928\u0924\u0940\u091c\u094b\u0902 \u0915\u094b \u0905\u092a\u0928\u0947 \u0905\u0928\u0941\u092e\u093e\u0928 \u0938\u0947 \u092e\u093f\u0932\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0907\u0928 \u0905\u0928\u0941\u092e\u093e\u0928\u094b\u0902 \u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u092f\u093e \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u090f\u0915\u094d\u0938\u092a\u0947\u0915\u094d\u091f\u0947\u0936\u0928 (Market Expectation) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u0917\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0928\u0924\u0940\u091c\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0905\u0928\u0941\u092e\u093e\u0928 \u0938\u0947 \u0905\u091a\u094d\u091b\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0936\u0947\u092f\u0930 \u091a\u0922\u093c\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0905\u0917\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0928\u0924\u0940\u091c\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0905\u0928\u0941\u092e\u093e\u0928 \u0938\u0947 \u0915\u092e \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0936\u0947\u092f\u0930 \u0917\u093f\u0930\u0924\u093e \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0928\u0924\u0940\u091c\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0905\u0928\u0941\u092e\u093e\u0928 \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u0939\u0940 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0926\u0932\u093e\u0935 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0916\u093f\u0932\u093e\u0921\u093c\u093f\u092f\u094b\u0902 \u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u00a0\u0915\u094b\u0908 \u0910\u0938\u0940 \u0916\u092c\u0930 \u0928\u0939\u0940\u0902 \u0926\u0940 \u091c\u093f\u0938\u0938\u0947 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u093e \u0909\u0924\u094d\u0938\u093e\u0939 \u092c\u0922\u093c\u0947\u0964", "", "Simple and vry knowledgeable\nTqsm \ud83d\ude4f\ud83d\ude4f\ud83d\ude4f\ud83d\ude4f\ud83d\ude4f", "great job zerodha team", "You\u2019re welcome Sanjay.", "Simple and very knowledgeable chapter,\nThe wonderful job by Team Zerodha,\nThank you very much.", "how i will know when these things would be published in market", "\u0906\u092a\u0915\u094b \u0932\u0947\u091f\u0947\u0938\u094d\u091f \u0928\u094d\u092f\u0942\u095b \u0915\u0947 \u0938\u093e\u0925 \u0905\u092a\u0921\u0947\u091f \u0930\u0939\u0928\u093e \u092a\u0921\u0947\u0917\u0964", "Ye sab jankari kaha se paryapt kare", "\u092f\u0939 \u0938\u092c \u0906\u092a\u0915\u094b \u0911\u0928\u0932\u093e\u0907\u0928 \u092e\u093f\u0932\u091c\u093e\u092f\u0947\u0917\u093e \u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M1-ch12-chart-1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M1-ch12-chart-2.jpg", "https://secure.gravatar.com/avatar/f0aa2d0b58339801b0fb34b97577824d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9b87e1edb54f06d9ca384e4a84c2a3c2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/daae70048fa5481093744ed20f888d20?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ada609b0263250524ec247f7aba7c78c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/55bc2f45013bc4305f5780a0d246cdd8?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e \u0938\u0902</th>\n<th>\u092e\u0939\u0940\u0928\u0947</th>\n<th>\u0924\u093f\u092e\u093e\u0939\u0940</th>\n<th>\u0928\u0924\u0940\u091c\u094b\u0902 \u0915\u093e \u0910\u0932\u093e\u0928</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>\u0905\u092a\u094d\u0930\u0948\u0932 \u0938\u0947 \u091c\u0942\u0928</td>\n<td>\u092a\u0939\u0932\u0940(Q1)</td>\n<td>\u091c\u0941\u0932\u093e\u0908 \u0915\u093e \u092a\u0939\u0932\u093e\u0938\u092a\u094d\u0924\u093e\u0939</td>\n</tr>\n<tr>\n<td>2</td>\n<td>\u091c\u0941\u0932\u093e\u0908 \u0938\u0947 \u0938\u0947\u092a\u094d\u091f\u0947\u0902\u092c\u0930</td>\n<td>\u0926\u0942\u0938\u0930\u0940(Q2)</td>\n<td>\u0905\u0915\u094d\u091f\u0942\u092c\u0930 \u0915\u093e \u092a\u0939\u0932\u093e\u0938\u092a\u094d\u0924\u093e\u0939</td>\n</tr>\n<tr>\n<td>3</td>\n<td>\u0905\u0915\u094d\u091f\u0942\u092c\u0930 \u0938\u0947 \u0926\u093f\u0938\u0902\u092c\u0930</td>\n<td>\u0924\u0940\u0938\u0930\u0940(Q3)</td>\n<td>\u091c\u0928\u0935\u0930\u0940 \u0915\u093e \u092a\u0939\u0932\u093e\u0938\u092a\u094d\u0924\u093e\u0939</td>\n</tr>\n<tr>\n<td>4</td>\n<td>\u091c\u0928\u0935\u0930\u0940 \u0938\u0947 \u092e\u093e\u0930\u094d\u091a</td>\n<td>\u091a\u094c\u0925\u09404 (Q4)</td>\n<td>\u0905\u092a\u094d\u0930\u0948\u0932 \u0915\u093e \u092a\u0939\u0932\u093e\u0938\u092a\u094d\u0924\u093e\u0939</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "13. \u0936\u0941\u0930\u0942 \u0915\u0948\u0938\u0947 \u0915\u0930\u0947\u0902!", "text": ["", "\u0906\u092a\u0928\u0947 \u0905\u092c \u0924\u0915 12 \u0905\u0927\u094d\u092f\u093e\u092f \u092a\u0922\u093c \u0932\u093f\u090f, \u092c\u0939\u0941\u0924 \u0915\u0941\u091b \u0938\u092e\u091d \u0932\u093f\u092f\u093e, \u0905\u092c \u0906\u092a \u0906\u0917\u0947 \u0915\u093e \u0938\u092b\u0930 \u0936\u0941\u0930\u0942 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964", "\u092a\u0942\u0930\u0947 \u092a\u0939\u0932\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092f\u093e \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u0938\u0947 \u092a\u0930\u093f\u091a\u093f\u0924 \u0915\u0930\u0935\u093e \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0939\u092e\u093e\u0930\u0940 \u0915\u094b\u0936\u093f\u0936 \u0930\u0939\u0940 \u0939\u0948 \u0915\u093f \u0935\u094b \u0938\u093e\u0930\u0947 \u0935\u093f\u0937\u092f \u0906\u092a \u0938\u092e\u091d \u091c\u093e\u090f\u0902 \u091c\u093f\u0928\u0915\u094b \u091c\u093e\u0928\u0928\u093e \u0906\u092a\u0915\u0947 \u0932\u093f\u090f, \u090f\u0915 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948, \u0916\u093e\u0938\u0915\u0930 \u0924\u092c \u091c\u092c \u0906\u092a \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915\u0926\u092e \u0928\u090f \u0939\u0948\u0902\u0964 \u0905\u092c \u092d\u0940 \u0905\u0917\u0930 \u0906\u092a\u0915\u0947 \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u0938\u0935\u093e\u0932 \u092c\u091a\u0947 \u0939\u0948\u0902, \u0924\u094b \u0905\u091a\u094d\u091b\u0940 \u092c\u093e\u0924 \u0939\u0948, \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0906\u0917\u0947 \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0939\u092e \u0909\u0928\u0915\u0947 \u091c\u0935\u093e\u092c \u0926\u0947\u0902\u0917\u0947\u0964", "\u092f\u0939\u093e\u0901 \u0939\u092e \u092f\u0947 \u092c\u0924\u093e\u0928\u093e \u092d\u0940 \u091c\u093c\u0930\u0942\u0930\u0940 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0939\u092e\u0928\u0947 \u0907\u0924\u0928\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0915\u094d\u092f\u094b\u0902 \u092c\u0928\u093e\u090f \u0939\u0948\u0902, \u0914\u0930 \u0935\u094b \u0906\u092a\u0938 \u092e\u0947\u0902 \u0915\u0948\u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0939\u0941\u090f \u0939\u0948\u0902\u0964 \u090f\u0915 \u092c\u093e\u0930 \u092b\u093f\u0930 \u0938\u0947 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0915\u094c\u0928 \u0938\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0939\u092e\u0928\u0947 \u092c\u0928\u093e\u090f\u0902 \u0939\u0948\u0902\u0964", "\u091c\u0947\u0930\u094b\u0927\u093e- \u0935\u093e\u0930\u093f\u0938\u091f\u0940 (Zerodha- Varsity) \u092e\u0947\u0902 \u0939\u092e\u093e\u0930\u0940 \u0915\u094b\u0936\u093f\u0936 \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0905\u091a\u094d\u091b\u0947 \u0936\u0948\u0915\u094d\u0937\u093f\u0915 \u0935\u093f\u0937\u092f\u094b\u0902 \u0915\u094b \u0906\u092a\u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u093e \u0938\u0915\u0947\u0964 \u0907\u0938\u092e\u0947\u0902 \u0936\u093e\u092e\u093f\u0932 \u0935\u093f\u0937\u092f \u0939\u0948\u0902 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938, \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938, \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935\u094d\u0938, \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u094d\u091f\u094d\u0930\u0948\u091f\u0947\u091c\u0940\u091c, \u0930\u093f\u0938\u094d\u0915 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0906\u0926\u093f\u0964 \u0939\u0930 \u092e\u0941\u0916\u094d\u092f \u0935\u093f\u0937\u092f \u092a\u0930 \u090f\u0915 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0906\u092a \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0928\u090f \u0939\u0948\u0902 \u092f\u093e \u0915\u0939\u0947\u0902 \u0915\u093f \u0928\u090f \u0928\u093f\u0935\u0947\u0936\u0915 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u092f\u0947 \u0932\u0917 \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0947 \u0938\u093e\u0930\u0947 \u0935\u093f\u0937\u092f \u0906\u092a\u0938 \u092e\u0947\u0902 \u091c\u0941\u0921\u093c\u0947 \u0939\u0941\u090f \u0915\u0948\u0938\u0947 \u0939\u0948\u0902?", "", "\u0907\u0938 \u0938\u0935\u093e\u0932 \u0915\u0947 \u091c\u0935\u093e\u092c \u092e\u0947\u0902 \u0906\u092a\u0938\u0947 \u090f\u0915 \u0938\u0935\u093e\u0932 \u0915\u0930\u0928\u093e \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0938\u092b\u0932 \u0939\u094b\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091a\u0940\u091c\u093c \u0915\u094d\u092f\u093e \u0939\u0948? \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0938\u092b\u0932\u0924\u093e \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a \u0916\u0942\u092c \u0938\u093e\u0930\u0947 \u092a\u0948\u0938\u0947 \u092c\u0928\u093e\u090f\u0902 \u0914\u0930 \u0905\u0917\u0930 \u0906\u092a \u092a\u0948\u0938\u093e \u0928\u0939\u0940\u0902 \u092c\u0928\u093e \u0930\u0939\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a \u0905\u0938\u092b\u0932 \u0939\u0948\u0902\u0964 \u0924\u094b \u092e\u0947\u0930\u0947 \u0938\u0935\u093e\u0932 \u0915\u0947 \u091c\u0935\u093e\u092c \u092e\u0947\u0902, \u0906\u092a\u0915\u0947 \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u092c\u093e\u0924\u0947\u0902 \u0906\u090f\u0902\u0917\u0940, \u091c\u0948\u0938\u0947- \u0930\u093f\u0938\u094d\u0915 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f, \u0905\u0928\u0941\u0936\u093e\u0938\u0928, \u091f\u093e\u0907\u092e\u093f\u0902\u0917 (timing) \u092f\u093e\u0928\u0940 \u0938\u0939\u0940 \u0935\u0915\u094d\u0924 \u092a\u0930 \u0938\u0939\u0940 \u092b\u0948\u0938\u0932\u093e, \u092c\u093e\u091c\u093c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0907\u0924\u094d\u092f\u093e\u0926\u093f\u0964", "\u0907\u0928 \u091a\u0940\u091c\u094b\u0902 \u0915\u0947 \u092e\u0939\u0924\u094d\u0935 \u0938\u0947 \u0907\u0902\u0915\u093e\u0930 \u0928\u0939\u0940\u0902 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0932\u0947\u0915\u093f\u0928 \u091c\u094d\u092f\u093e\u0926\u093e \u091c\u093c\u0930\u0942\u0930\u0940 \u0914\u0930 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0939\u0948 \u090f\u0915 \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923 \u092f\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e (Point of view) \u092c\u0928\u093e\u0928\u093e \u0964", "\u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923 \u092f\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u0935\u094b \u091a\u0940\u091c \u0939\u0948 \u091c\u094b \u0906\u092a\u0915\u094b \u092c\u0924\u093e\u0924\u0940 \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u093f\u0938 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u091c\u093e\u090f\u0917\u093e\u0964 \u0905\u0917\u0930 \u0906\u092a\u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093c\u093e\u0930 \u090a\u092a\u0930 \u091c\u093e\u090f\u0917\u093e, \u0924\u094b \u0906\u092a\u0915\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u0924\u0947\u091c\u093c\u0940 \u0915\u093e \u0939\u0948, \u0914\u0930 \u0906\u092a \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0947\u0902\u0917\u0947\u0964 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0905\u0917\u0930 \u0906\u092a\u0915\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092e\u0902\u0926\u0940 \u0915\u093e \u0939\u0948, \u0924\u094b \u0906\u092a \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0947\u0902\u0917\u0947\u0964", "\u0932\u0947\u0915\u093f\u0928 \u092f\u0947 \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u0906\u092a \u0915\u0948\u0938\u0947 \u092c\u0928\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902? \u0906\u092a \u0915\u0948\u0938\u0947 \u0924\u092f \u0915\u0930\u0947\u0902\u0917\u0947 \u0915\u093f \u092c\u093e\u091c\u093c\u093e\u0930 \u090a\u092a\u0930 \u091c\u093e\u090f\u0917\u093e \u0915\u093f \u0928\u0940\u091a\u0947?", "\u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092f\u093e \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923 \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0938\u0939\u0940 \u0915\u093e\u0930\u094d\u092f \u092a\u094d\u0930\u0923\u093e\u0932\u0940 \u0938\u0947 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u093e \u092a\u0930\u0940\u0915\u094d\u0937\u0923 (Analysis) \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0915\u0941\u091b \u0924\u0930\u0940\u0915\u0947 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u0906\u092a \u092f\u0947 \u092a\u0930\u0940\u0915\u094d\u0937\u0923 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0906\u092a\u0915\u094b \u0938\u092e\u091d\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u091a\u0932 \u0930\u0939\u093e \u0939\u094b\u0924\u093e \u0939\u0948, \u091c\u092c \u0935\u094b \u0905\u092a\u0928\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092c\u0928\u093e \u0930\u0939\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923 \u2013 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0924\u093f\u092e\u093e\u0939\u0940 \u0928\u0924\u0940\u091c\u0947 \u0905\u091a\u094d\u091b\u0947 \u0926\u093f\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u092c\u093f\u0915\u094d\u0930\u0940 \u092e\u0947\u0902 25% \u0914\u0930 \u092e\u0941\u0928\u093e\u092b\u0947 \u092e\u0947\u0902 15%\u00a0 \u0935\u0943\u0926\u094d\u0927\u093f \u0926\u093f\u0916\u093e\u0908 \u0939\u0948\u0964 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0906\u0917\u0947 \u0915\u093e \u092d\u0935\u093f\u0937\u094d\u092f \u092f\u093e\u0928\u0940 \u0917\u093e\u0907\u0921\u0947\u0902\u0938 (Guidance) \u092d\u0940 \u0905\u091a\u094d\u091b\u093e \u092c\u0924\u093e\u092f\u093e \u0939\u0948\u0964 \u0924\u094b \u092f\u0947 \u0938\u093e\u0930\u0947 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u0938\u0902\u0915\u0947\u0924 \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u0924\u0947\u091c\u093c\u0940 \u0926\u093f\u0916\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u092f\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0936\u094d\u0930\u0947\u0923\u0940 \u092e\u0947\u0902 \u0939\u0948\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923 \u2013 MACD \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0924\u0947\u091c\u093c\u0940 \u0926\u093f\u0916\u093e \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u092f\u0947 \u092c\u0941\u0932\u093f\u0936 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 (Bullish Candlestick Pattern) \u0915\u0947 \u0938\u093e\u0925 \u0939\u0948\u0964 \u0907\u0938\u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u092a\u0930 \u0936\u0947\u092f\u0930 \u091b\u094b\u091f\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0932\u093f\u090f (Short Term) \u0924\u0947\u091c\u093c\u0940 \u092e\u0947\u0902 \u0926\u093f\u0916\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0947 \u0916\u0930\u0940\u0926\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0915\u094d\u0935\u093e\u0902\u091f\u093f\u091f\u0947\u091f\u093f\u0935 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923 \u2013 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928\u094b\u0902 \u0915\u0940 \u0924\u0947\u091c\u093c\u0940 \u0915\u0947 \u092c\u093e\u0926 \u0936\u0947\u092f\u0930 \u0915\u0947 PE \u0928\u0947 \u0924\u0940\u0938\u0930\u0947 \u0938\u094d\u091f\u0948\u0902\u0921\u0930\u094d\u0921 \u0921\u0947\u0935\u093f\u090f\u0936\u0928 ( 3rd Standard Deviation) \u0915\u094b \u091b\u0942 \u0932\u093f\u092f\u093e \u0939\u0948\u0964 PE \u0915\u0947 \u0924\u0940\u0938\u0930\u0947 \u0938\u094d\u091f\u0948\u0902\u0921\u0930\u094d\u0921 \u0921\u0947\u0935\u093f\u090f\u0936\u0928 \u0915\u094b \u0924\u094b\u0921\u093c\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 1% \u0939\u0940 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u092f\u0947 \u092e\u093e\u0928\u0928\u093e \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0917\u093e \u0915\u093f \u0936\u0947\u092f\u0930 \u0915\u0940 \u091a\u093e\u0932 \u092c\u0926\u0932 \u0930\u0939\u0940 \u0939\u0948 \u0914\u0930 \u092f\u0947 \u092c\u0947\u091a\u0947 \u091c\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0964", "\u092c\u093e\u0939\u0930 \u0915\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e (Outside views)- \u091f\u0947\u0932\u093f\u0935\u093f\u091c\u0928 \u092a\u0930 \u0906 \u0930\u0939\u0947 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u093e\u0930\u0940 \u0915\u0940 \u0938\u0932\u093e\u0939 \u0926\u0947 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0907\u0938\u0932\u093f\u090f \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "", "\u0906\u092a\u0915\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u0906\u092a\u0915\u0940 \u0905\u092a\u0928\u0940 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0928\u093e \u0915\u093f \u0915\u093f\u0938\u0940 \u0914\u0930 \u0915\u0947 \u0915\u0939\u0928\u0947 \u0938\u0947, \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092c\u093e\u0926 \u092e\u0947\u0902 \u0906\u092a \u0915\u093f\u0938\u0940 \u0914\u0930 \u0915\u094b \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930 \u0928\u0939\u0940\u0902 \u0920\u0939\u0930\u093e \u0938\u0915\u0924\u0947\u0964", "\u0905\u092a\u0928\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0906\u092a \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0902\u0917\u0947? \u0915\u094d\u092f\u093e \u0938\u0940\u0927\u0947 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u091c\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u0938\u094c\u0926\u0947 \u0915\u0930\u0928\u0947 \u0932\u0917\u0947\u0902\u0917\u0947? \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0940 \u092a\u0947\u091a\u0940\u0926\u0917\u093f\u092f\u093e\u0902 \u092f\u0939\u0940\u0902 \u0938\u0947 \u0936\u0941\u0930\u0942 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902\u0964", "\u0905\u0917\u0930 \u0906\u092a\u0915\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u0924\u0947\u091c\u093c\u0940 \u0915\u093e \u0939\u0948 \u0924\u094b \u0906\u092a\u2026", "\u0924\u094b \u0905\u092a\u0928\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0906\u092a \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0902\u0917\u0947 \u092f\u0939 \u090f\u0915 \u0905\u0932\u0917 \u0939\u0940 \u0916\u0947\u0932 \u0939\u0948\u0964 \u0938\u0939\u0940 \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f \u0915\u094b \u091a\u0941\u0928\u0928\u093e \u0939\u0940 \u0906\u092a\u0915\u0947 \u0928\u091c\u093c\u0930\u093f\u090f \u0915\u094b \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092e\u0947\u0902 \u0938\u092b\u0932 \u092f\u093e \u0905\u0938\u092b\u0932 \u092c\u0928\u093e\u0924\u093e \u0939\u0948\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u0905\u0917\u0930 \u092e\u0948\u0902 \u090f\u0915 \u0936\u0947\u092f\u0930 \u0915\u094b \u0932\u0947\u0915\u0930 \u090f\u0915 \u0938\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f \u0924\u0947\u091c\u093c\u0940 \u092e\u0947\u0902 \u0939\u0942\u0902 \u0924\u094b \u092e\u0947\u0930\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u093e \u092f\u0947 \u0939\u094b\u0917\u093e \u0915\u093f \u092e\u0948\u0902 \u0909\u0938 \u0936\u0947\u092f\u0930 \u0915\u094b \u0921\u093f\u0932\u0940\u0935\u0930\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092e\u0947\u0902 \u0932\u0947\u0915\u0930 \u0930\u0916 \u0932\u0942\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u092e\u0948\u0902 \u0915\u092e \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u0924\u0947\u091c\u093c\u0940 \u0915\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u0930\u0916\u0924\u093e \u0939\u0942\u0902, \u091c\u0948\u0938\u0947 \u0915\u093f 1 \u0939\u092b\u094d\u0924\u093e, \u0924\u094b \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u093e \u0915\u094b\u0908 \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f \u092e\u0947\u0930\u0947 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0932\u093f\u090f \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0917\u093e\u0964", "\u0905\u0917\u0930 \u092e\u0948\u0902 \u0924\u0947\u091c\u093c\u0940 \u092e\u0947\u0902 \u0939\u0942\u0902 \u0932\u0947\u0915\u093f\u0928 \u0909\u0938 \u0928\u091c\u093c\u0930\u093f\u090f \u092e\u0947\u0902 \u0915\u0941\u091b \u0936\u0930\u094d\u0924\u0947\u0902 \u091c\u0941\u0921\u093c\u0940 \u0939\u0941\u0908 \u0939\u0948\u0902, \u091c\u0948\u0938\u0947- \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093c\u093e\u0930 \u092c\u091c\u091f \u092d\u093e\u0937\u0923 \u0915\u0947 \u092c\u093e\u0926 \u0909\u091b\u0932\u0947\u0917\u093e, \u0932\u0947\u0915\u093f\u0928 \u092e\u0948\u0902 \u092c\u0939\u0941\u0924 \u0930\u093f\u0938\u094d\u0915 \u092f\u093e \u091c\u094b\u0916\u093f\u092e \u0932\u0947\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0928\u0939\u0940\u0902 \u0939\u0942\u0902 \u0924\u094b \u092e\u0947\u0930\u0947 \u0932\u093f\u090f \u0911\u092a\u094d\u0936\u0928 \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0902\u0917\u0947\u0964", "\u0924\u094b \u0915\u0941\u0932 \u092e\u093f\u0932\u093e\u0915\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u0939\u0930 \u0916\u093f\u0932\u093e\u0921\u093c\u0940 \u0915\u094b \u0905\u092a\u0928\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0914\u0930 \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u0938\u0939\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f \u091a\u0941\u0928\u0928\u093e \u091a\u093e\u0939\u093f\u090f, \u0924\u092d\u0940 \u0906\u092a \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0938\u092b\u0932 \u0939\u094b \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f \u0905\u092c \u0924\u0915 \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u0906 \u0917\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0905\u0932\u0917-\u0905\u0932\u0917 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0915\u0948\u0938\u0947 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0940 \u090f\u0915 \u092a\u0942\u0930\u0940 \u0924\u0938\u094d\u0935\u0940\u0930 \u092a\u094d\u0930\u0938\u094d\u0924\u0941\u0924 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "", "", "", "\u092b\u094d\u0932\u094b \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0936\u092c\u094d\u0926", "\u0907\u0938\u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u091c\u0947\u0930\u094b\u0927\u093e \u0935\u093e\u0930\u0938\u093f\u091f\u0940 (Zerodha Varsity) \u0915\u0947 \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u0915\u094b \u092a\u0922\u093c\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0917\u093e\u0964", "\u0905\u0917\u0932\u0947 2 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0914\u0930 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0928\u091c\u093c\u0930\u093f\u092f\u093e (PoV \u2013 Point of View) \u092c\u0928\u093e\u0928\u093e \u0938\u0940\u0916\u0947\u0902\u0917\u0947\u0964", "\u0907\u0928 2 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0915\u0947 \u092c\u093e\u0926 \u091c\u092c \u0906\u092a\u0915\u094b \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u0928\u093e \u0906 \u091c\u093e\u090f\u0917\u093e \u0924\u092c \u0906\u0917\u0947 \u0915\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0905\u0932\u0917 \u0905\u0932\u0917 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0940 \u091c\u093e\u090f\u0917\u0940, \u0924\u093e\u0915\u093f \u0906\u092a \u0906\u092a\u0928\u0947 \u0928\u091c\u093c\u0930\u093f\u090f \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f \u091a\u0941\u0928 \u0938\u0915\u0947\u0902\u0964 \u0938\u093e\u0925 \u0939\u0940 \u0906\u0917\u0947 \u092c\u0922\u093c\u0928\u0947 \u092a\u0930 \u0938\u094c\u0926\u094b\u0902 \u0915\u094b \u092c\u0947\u0939\u0924\u0930 \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u092b\u0932 \u0930\u093f\u0938\u094d\u0915 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0924\u0915\u0928\u0940\u0915 \u092c\u0924\u093e\u090f\u0902\u0917\u0947\u0964", "Thank u sir\nMuhammad ali of stock market \u201ckartik bhai\u201d\nSir plz translate all module in to hindi\nMuje English me bahot problem hoti h plzz", "Sir plz translate all module in to hindi", "Please translate all modules in Hindi it will be most Beneficial for norther indian people, for clear understanding it is necessary that all modules should be in hindi", "Sir vesity app hindi main translate nahi ho sakta\u2026", "full of knowledge.Thank u very much,", "you\u2019re welcome \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/09/Ch-13title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M1-ch13-chart.png", "https://secure.gravatar.com/avatar/86ae117c6483020d0ec57f81b9a95797?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/47fd0ff3d01ab379f414bb3544f80d4f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1c0835d918e73bdfd7dfd772d0e3e329?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/dcd33185cfe88bcd65fd70d63417191b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4ce4e08028f57553bc0163791a2ccb18?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "14. \u0915\u0941\u091b \u092c\u091a\u0940 \u092c\u093e\u0924\u0947\u0902", "text": ["\u0906\u0908\u092a\u0940\u0913 (IPO) \u0915\u0947 \u091c\u0930\u093f\u090f \u0915\u0902\u092a\u0928\u0940 \u092a\u0939\u0932\u0940 \u092c\u093e\u0930 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0932\u093f\u0938\u094d\u091f \u0939\u094b\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u0924\u0940 \u0939\u0948 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0932\u093f\u0938\u094d\u091f \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902 \u0939\u0930 \u0926\u093f\u0928 \u0916\u0930\u0940\u0926 \u092c\u093f\u0915\u094d\u0930\u0940 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 IPO \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u094d\u0930\u092e\u094b\u091f\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0915\u0941\u091b \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0936\u0947\u092f\u0930 \u0906\u092e \u091c\u0928\u0924\u093e \u0915\u094b \u092c\u0947\u091a\u0924\u0947 \u0939\u0948\u0902\u0964 IPO \u0932\u093e\u0928\u0947 \u0915\u0940 \u0935\u091c\u0939\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u092e \u0905\u0927\u094d\u092f\u093e\u092f 4 \u0914\u0930 5 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u092c\u093e\u0924 \u0915\u0930 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902\u0964", "IPO \u0932\u093e\u0928\u0947 \u0915\u0940 \u092e\u0941\u0916\u094d\u092f \u0935\u091c\u0939 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0932\u093f\u090f \u092a\u0942\u0902\u091c\u0940 \u091c\u0941\u091f\u093e\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u093e \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0915\u0930 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 IPO \u0915\u0947 \u091c\u0930\u093f\u090f \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u0941\u0930\u093e\u0928\u0947 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u094b \u0905\u092a\u0928\u093e \u0928\u093f\u0935\u0947\u0936 \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u093e \u090f\u0915 \u0930\u093e\u0938\u094d\u0924\u093e \u092d\u0940 \u092e\u093f\u0932\u0924\u093e \u0939\u0948\u0964\u00a0 IPO \u0906\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0914\u0930 \u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0916\u0930\u0940\u0926 \u092c\u093f\u0915\u094d\u0930\u0940 \u0936\u0941\u0930\u0942 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092d\u0940 \u092a\u094d\u0930\u092e\u094b\u091f\u0930 \u0915\u094b \u0914\u0930 \u092a\u0942\u0902\u091c\u0940 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u092a\u0921\u093c \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u091c\u093f\u0938\u0915\u0947 \u0932\u093f\u090f \u0909\u0938\u0915\u0947 \u0938\u093e\u092e\u0928\u0947 \u0924\u0940\u0928 \u0930\u093e\u0938\u094d\u0924\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942, \u00a0\u0911\u092b\u0930 \u092b\u0949\u0930 \u0938\u0947\u0932 (Offer for Sale-OFS), \u00a0\u0914\u0930 \u092b\u0949\u0932\u094b-\u0911\u0928 \u092a\u092c\u094d\u0932\u093f\u0915 \u0911\u092b\u0930 (Follow-on Public Offer-FPO).", "\u092a\u094d\u0930\u092e\u094b\u091f\u0930 \u0905\u092a\u0928\u0947 \u092e\u094c\u091c\u0942\u0926\u093e \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u0914\u0930 \u0928\u090f \u0936\u0947\u092f\u0930 \u0926\u0947\u0915\u0930 \u0914\u0930 \u092a\u0942\u0902\u091c\u0940 \u091c\u0941\u091f\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u092e\u0947\u0902 \u092f\u0939 \u0928\u090f \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092e\u094c\u091c\u0942\u0926\u093e \u0915\u0940\u092e\u0924 \u0938\u0947 \u0915\u092e \u0926\u093e\u092e \u092a\u0930 \u0926\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u092a\u0941\u0930\u093e\u0928\u0947 \u0936\u0947\u092f\u0930 \u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u0928\u090f \u0936\u0947\u092f\u0930 \u0909\u0928\u0915\u0947 \u092a\u093e\u0938 \u0905\u092d\u0940 \u092e\u094c\u091c\u0942\u0926 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u0947 \u0905\u0928\u0941\u092a\u093e\u0924 \u092e\u0947\u0902 \u0926\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 4:1 \u0915\u0947 \u0930\u093e\u0907\u091f \u0907\u0936\u094d\u092f\u0942 \u092e\u0947\u0902 \u0939\u0930 \u091a\u093e\u0930 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0947 \u092c\u0926\u0932\u0947 \u092e\u0947\u0902 \u0909\u0928 \u0915\u094b \u090f\u0915 \u0905\u0924\u093f\u0930\u093f\u0915\u094d\u0924 \u0936\u0947\u092f\u0930 \u0926\u093f\u092f\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u0926\u0947\u0916\u0928\u0947 \u092e\u0947\u0902 \u092a\u0942\u0902\u091c\u0940 \u091c\u0941\u091f\u093e\u0928\u0947 \u0915\u093e \u092f\u0939 \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0924\u0930\u0940\u0915\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u092c\u0939\u0941\u0924 \u0915\u092e \u0932\u094b\u0917\u094b\u0902 \u0938\u0947 \u0939\u0940 \u092a\u0948\u0938\u0947 \u091c\u0941\u091f\u093e\u0928\u0947 \u0915\u093e \u0930\u093e\u0938\u094d\u0924\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u092a\u0941\u0930\u093e\u0928\u0947 \u0936\u0947\u092f\u0930 \u0927\u093e\u0930\u0915 \u0914\u0930 \u092a\u0948\u0938\u093e \u0928\u093e \u0932\u0917\u093e\u0928\u093e \u091a\u093e\u0939\u0947\u0902\u0964 \u0930\u093e\u0907\u091f \u0907\u0936\u094d\u092f\u0942 \u0915\u0947 \u0906\u0928\u0947 \u0938\u0947 \u092a\u0941\u0930\u093e\u0928\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0909\u0928\u0915\u0947 \u092a\u0939\u0932\u0947 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u092e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0930\u093e\u0907\u091f\u094d\u0938 \u0907\u0936\u094d\u092f\u0942 \u0915\u093e \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948 \u0938\u093e\u0909\u0925 \u0907\u0902\u0921\u093f\u092f\u0928 \u092c\u0948\u0902\u0915 \u0915\u093e \u091c\u093f\u0938\u0928\u0947 1:3 \u0915\u093e \u0907\u0936\u094d\u092f\u0942 \u0915\u093f\u092f\u093e\u0964 \u0907\u0938\u092e\u0947\u0902 \u092e\u094c\u091c\u0942\u0926\u093e \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 14 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0936\u0947\u092f\u0930 \u0926\u093f\u090f \u0917\u090f \u091c\u094b \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924( \u0930\u093f\u0915\u093e\u0930\u094d\u0921 \u0921\u0947\u091f 17 \u092b\u0930\u0935\u0930\u0940 2014 \u0915\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940\u092e\u0924 20 \u0930\u0941\u092a\u092f\u0947) \u0938\u0947 30% \u0928\u0940\u091a\u0947 \u0925\u0940\u0964\u00a0 \u092c\u0948\u0902\u0915 \u0928\u0947 45.07 \u0932\u093e\u0916 \u0936\u0947\u092f\u0930 \u0905\u092a\u0928\u0947 \u092e\u094c\u091c\u0942\u0926\u093e \u0936\u0947\u092f\u0930 \u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u0926\u093f\u090f\u0964", "\u0930\u093e\u0907\u091f \u0907\u0936\u094d\u092f\u0942 \u092a\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0905\u0927\u094d\u092f\u093e\u092f 11 \u092e\u0947\u0902 \u092c\u0924\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "\u0930\u093e\u0907\u091f \u0907\u0936\u094d\u092f\u0942 \u0915\u0947 \u0935\u093f\u092a\u0930\u0940\u0924, \u092a\u094d\u0930\u092e\u094b\u091f\u0930 \u092a\u0942\u0930\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0932\u093f\u090f \u0936\u0947\u092f\u0930 \u0915\u093e \u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u0907\u0936\u094d\u092f\u0942 \u0932\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u092e\u094c\u091c\u0942\u0926\u093e \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915 \u0935\u093e\u0932\u093e \u092c\u0902\u0927\u0928 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c OFS \u0915\u0947 \u0932\u093f\u090f \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u091c\u0930\u093f\u090f \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0940 \u0938\u0941\u0935\u093f\u0927\u093e \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0907\u0938 \u0911\u092b\u0930 \u0915\u0940 \u0905\u0928\u0941\u092e\u0924\u093f \u0924\u092d\u0940 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u092a\u094d\u0930\u092e\u094b\u091f\u0930 \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u094b\u0902 \u0914\u0930 \u0938\u093e\u0925 \u0939\u0940 \u092a\u092c\u094d\u0932\u093f\u0915 \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u0940 \u0915\u092e \u0938\u0947 \u0915\u092e \u0938\u0940\u092e\u093e \u0915\u093e \u0909\u0932\u094d\u0932\u0902\u0918\u0928 \u092d\u0940 \u0928\u093e \u0915\u0930\u0947\u0902\u0964\u00a0 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0938\u0930\u0915\u093e\u0930\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u092f\u093e\u0928\u0940 \u092a\u0940\u090f\u0938\u092f\u0942 (PSU) \u092e\u0947\u0902 \u092a\u092c\u094d\u0932\u093f\u0915 \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u0940 \u0938\u0940\u092e\u093e 25% \u0939\u0948\u0964", "OFS \u092e\u0947\u0902 \u090f\u0915 \u092b\u094d\u0932\u094b\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0924\u092f \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u092a\u094d\u0930\u093e\u0907\u0938 \u0915\u0947 \u090a\u092a\u0930 \u0930\u093f\u091f\u0947\u0932 \u0914\u0930 \u0928\u0949\u0928 \u0930\u093f\u091f\u0947\u0932 \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u0924\u0930\u0939 \u0915\u0947 \u0928\u093f\u0935\u0947\u0936\u0915 \u092c\u093f\u0921 (bid) \u0921\u093e\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u091f \u0911\u092b \u092a\u094d\u0930\u093e\u0907\u0938 \u0915\u0947 \u090a\u092a\u0930 \u0915\u0947 \u0938\u092d\u0940 \u092c\u093f\u0921 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0905\u0932\u0949\u091f \u0915\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c T+1 \u0921\u0947 \u092e\u0947\u0902 \u092f\u0947 \u0936\u0947\u092f\u0930 \u0921\u0940\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0938\u0947\u091f\u0932 \u0915\u0930 \u0926\u0947\u0924\u093e \u0939\u0948\u0964", "OFS \u0915\u093e \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u090f\u0928\u091f\u0940\u092a\u0940\u0938\u0940 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 (NTPC Limited) \u0915\u093e \u0939\u0948 \u091c\u093f\u0938\u0928\u0947 46.35 \u092e\u093f\u0932\u093f\u092f\u0928 (4.635 \u0915\u0930\u094b\u0921\u093c) \u0936\u0947\u092f\u0930 168 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u092b\u094d\u0932\u094b\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u092a\u0930 \u0911\u092b\u0930 \u0915\u093f\u090f \u0925\u0947\u0964 \u092f\u0939 \u0907\u0936\u094d\u092f\u0942 2 \u0926\u093f\u0928 \u092e\u0947\u0902 \u092a\u0942\u0930\u093e \u0938\u092c\u094d\u0938\u0915\u094d\u0930\u093e\u0907\u092c \u0939\u094b \u0917\u092f\u093e \u0925\u093e\u0964 \u092f\u0939 \u0911\u092b\u0930 \u092b\u0949\u0930 \u0938\u0947\u0932 29 \u0905\u0917\u0938\u094d\u0924 2017 \u0915\u094b \u0930\u093f\u091f\u0947\u0932 \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u0930 \u0915\u0947 \u0932\u093f\u090f \u0914\u0930 30 \u0905\u0917\u0938\u094d\u0924 2017 \u0915\u094b \u0928\u0949\u0928 \u0930\u093f\u091f\u0947\u0932 \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u0930 \u0915\u0947 \u0932\u093f\u090f \u0916\u0941\u0932\u093e \u0925\u093e\u0964", "\u090f\u092b\u092a\u0940\u0913 (FPO) \u0915\u093e \u092d\u0940 \u092e\u0941\u0916\u094d\u092f \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f \u0905\u0924\u093f\u0930\u093f\u0915\u094d\u0924 \u092a\u0942\u0902\u091c\u0940 \u091c\u0941\u091f\u093e\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092d\u0940 \u0936\u0947\u092f\u0930 \u0915\u0947 \u0932\u093f\u0938\u094d\u091f \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092a\u0942\u0902\u091c\u0940 \u091c\u0941\u091f\u093e\u0928\u0947 \u0915\u093e \u090f\u0915 \u0924\u0930\u0940\u0915\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u092e\u0947\u0902 \u090f\u092a\u094d\u0932\u0940\u0915\u0947\u0936\u0928 \u0914\u0930 \u0905\u0932\u0949\u091f\u092e\u0947\u0902\u091f \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0905\u0932\u0917 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0905\u092a\u0928\u093e\u0908 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 FPO \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0915\u094b \u0921\u093e\u0907\u0932\u094d\u092f\u0942\u091f (Dilute) \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0928\u090f \u0936\u0947\u092f\u0930 \u092d\u0940 \u091c\u093e\u0930\u0940 \u0915\u093f\u090f \u091c\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0928\u094d\u0939\u0947\u0902 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u094b \u090f\u0932\u0949\u091f \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 IPO \u0915\u0940 \u0924\u0930\u0939 FPO \u092e\u0947\u0902 \u092d\u0940 \u092e\u0930\u094d\u091a\u0947\u0902\u091f \u092c\u0948\u0902\u0915\u0930 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u092a\u0921\u093c\u0924\u0940 \u0939\u0948 \u091c\u094b \u0930\u0947\u0921 \u0939\u0947\u092f\u0930\u093f\u0902\u0917 \u092a\u094d\u0930\u094b\u0938\u094d\u092a\u0947\u0915\u094d\u091f\u0938 \u092c\u0928\u093e\u0915\u0930 \u0938\u0947\u092c\u0940 \u0915\u094b \u0926\u0947\u0924\u093e \u0939\u0948 \u0914\u0930 \u0938\u0947\u092c\u0940 \u0915\u0940 \u092e\u0902\u091c\u0942\u0930\u0940 \u0915\u0947 \u092c\u093e\u0926 \u092c\u093f\u0921\u093f\u0902\u0917 \u0936\u0941\u0930\u0942 \u0915\u0940 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u092c\u093f\u0921\u093f\u0902\u0917 \u0915\u0947 \u0932\u093f\u090f 3-5 \u0926\u093f\u0928 \u0915\u093e \u0938\u092e\u092f \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u0930 ASBA \u00a0(Application Supported by Blocked Amount) \u0915\u0947 \u0930\u093e\u0938\u094d\u0924\u0947 \u0905\u092a\u0928\u0940 \u092c\u093f\u0921 \u0921\u093e\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u0941\u0915 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u0947 \u092c\u093e\u0926 \u091c\u092c \u0915\u091f \u0911\u092b \u092a\u094d\u0930\u093e\u0907\u0938 \u0924\u092f \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u0924\u094b \u092b\u093f\u0930 \u0936\u0947\u092f\u0930 \u090f\u0932\u0949\u091f \u0915\u0930 \u0926\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 2012 \u092e\u0947\u0902 OFS \u0915\u093e \u0930\u093e\u0938\u094d\u0924\u093e \u0916\u0941\u0932 \u091c\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0938\u0947 \u092a\u0942\u0902\u091c\u0940 \u091c\u0941\u091f\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f FPO \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0936\u093e\u092f\u0926 \u0939\u0940 \u0915\u092d\u0940 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u0915\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0925\u094b\u0921\u093c\u0940 \u0932\u0902\u092c\u0940 \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u0940 \u090f\u0915 \u092a\u094d\u0930\u093e\u0907\u0938 \u092c\u0948\u0902\u0921 \u0924\u092f \u0915\u0930\u0924\u0940 \u0939\u0948 \u0914\u0930 FPO \u0915\u093e \u0935\u093f\u091c\u094d\u091e\u093e\u092a\u0928 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091c\u094b \u0928\u093f\u0935\u0947\u0936\u0915 \u0907\u0938 \u092e\u0947\u0902 \u092a\u0948\u0938\u093e \u0932\u0917\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0935\u094b ASBA\u00a0 \u0915\u0947 \u0930\u093e\u0938\u094d\u0924\u0947 \u092f\u093e \u092b\u093f\u0930 \u0915\u093f\u0938\u0940 \u092c\u0948\u0902\u0915 \u092c\u094d\u0930\u093e\u0902\u091a \u0915\u0947 \u091c\u0930\u093f\u090f \u0907\u0938\u092e\u0947\u0902 \u092a\u0948\u0938\u093e \u0932\u0917\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u094b\u0932\u0940 \u0932\u0917\u093e\u0928\u0947 \u0915\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0916\u0924\u094d\u092e \u0939\u094b\u0928\u0947 \u092a\u0930 \u0915\u091f \u0911\u092b \u092a\u094d\u0930\u093e\u0907\u0938 \u0924\u092f \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0915\u091f \u0911\u092b \u092a\u094d\u0930\u093e\u0907\u0938 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u092e\u093e\u0901\u0917 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0924\u092f \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092b\u093f\u0930 \u0936\u0947\u092f\u0930 \u090f\u0932\u0949\u091f \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0928\u094d\u0939\u0947\u0902 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092a\u0930 \u0932\u093f\u0938\u094d\u091f \u0915\u0930 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "FPO \u0915\u093e \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948 \u0907\u0902\u091c\u0940\u0928\u093f\u092f\u0930\u094d\u0938 \u0907\u0902\u0921\u093f\u092f\u093e \u0932\u093f\u092e\u093f\u091f\u0947\u0921\u0964 \u0915\u0902\u092a\u0928\u0940 \u092b\u0930\u0935\u0930\u0940 2014 \u092e\u0947\u0902 \u0907\u0936\u094d\u092f\u0942 \u0932\u0947 \u0915\u0930 \u0906\u0908 \u0925\u0940\u0964 \u0907\u0936\u094d\u092f\u0942 \u092e\u0947\u0902 \u092a\u094d\u0930\u093e\u0907\u0938 \u092c\u0948\u0902\u0921 \u0925\u093e 145 \u0938\u0947 150 \u0930\u0941\u092a\u092f\u0947\u0964 \u0907\u0936\u094d\u092f\u0942 3 \u0917\u0941\u0928\u093e \u0938\u092c\u094d\u0938\u0915\u094d\u0930\u093e\u0907\u092c \u0939\u0941\u0906 \u0925\u093e \u0914\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0926\u093f\u0928 \u0936\u0947\u092f\u0930 \u20b9151.10 \u092a\u0930 \u092c\u093f\u0915 \u0930\u0939\u093e \u0925\u093e\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0907\u0936\u094d\u092f\u0942 \u0915\u093e \u0932\u094b\u0905\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u092c\u0948\u0902\u0921 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940\u092e\u0924 \u0938\u0947 4.2% \u0928\u0940\u091a\u0947 \u0925\u093e\u0964", "", "F&O ke bare me Hindi me bataye.", "Hello \u0935\u093f\u0930\u093e\u091c\u0940, \u091c\u0932\u094d\u0926 \u0939\u0940 \u0939\u092e F&O \u092a\u0930 \u092c\u0928\u093e \u0935\u0930\u094d\u0938\u093f\u091f\u0940 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0915\u093e \u0905\u0928\u0941\u0935\u093e\u0926 \u092d\u0940 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0947\u0902 \u0939\u0948\u0902\u0964", "Sare chapters ka hindi translation kardo", "Kindly convert all the chapters on Varsity app in Hindi too.\nThanks!\nGagan kumar", "We are working on it, Gagan.", "Hello sir varcity convert in hindi \u2026ple", "This is work in progress. We are adding more modules in Hindi.", "Thanks a lot. your work towards educating is highly appreciated.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/08/Ch5-title.jpg", "https://secure.gravatar.com/avatar/a04e51daea9a9813f3f4614d9ab54ec6?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a4a6d0d427a91f322aa3a303167bfcf8?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/8da12088c37113ed5bd930492c1dfc93?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/aedb5a5bc9327d46c918336d88069edc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2f6e6f10cba8dcff149e6389410ce013?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "1. \u0928\u093f\u0935\u0947\u0936 \u0915\u0940 \u091c\u093c\u0930\u0942\u0930\u0924", "text": ["\u092e\u0939\u0902\u0917\u093e\u0908 \u0926\u0930 \u0938\u0947 \u0928\u093f\u092a\u091f\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e \u095b\u0930\u0942\u0930\u0940 \u0939\u0948\u0964", "\u0907\u0938 \u0938\u0935\u093e\u0932 \u0915\u093e \u091c\u0935\u093e\u092c \u0926\u0947\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u092f\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u0917\u0930 \u0928\u093f\u0935\u0947\u0936 \u0928\u0939\u0940\u0902 \u0915\u0930\u0947\u0902\u0917\u0947 \u0924\u094b \u0915\u094d\u092f\u093e \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a 50,000 \u0930\u0941\u092a\u092f\u0947 \u0939\u0930 \u092e\u0939\u0940\u0928\u0947 \u0915\u092e\u093e\u0924\u0947 \u0939\u0948\u0902, \u0914\u0930 30,000 \u0930\u0941\u092a\u092f\u0947 \u0906\u092a\u0915\u093e \u092e\u0939\u0940\u0928\u0947 \u0915\u093e \u0916\u0930\u094d\u091a \u0939\u0948\u0964 \u0906\u092a\u0915\u0940 \u092e\u093e\u0938\u093f\u0915 \u092c\u091a\u0924 20,000 \u0930\u0941\u092a\u092f\u0947 \u0930\u0939\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u094b \u0906\u0938\u093e\u0928 \u0930\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0905\u092d\u0940 \u0907\u0938\u092e\u0947\u0902 \u0907\u0928\u0915\u092e \u091f\u0948\u0915\u094d\u0938 \u0915\u094b \u0928\u0939\u0940\u0902 \u091c\u094b\u0921\u093c\u0947\u0902\u0917\u0947\u0964 \u0905\u092c \u092f\u0947 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f-", "\u0906\u092a \u0905\u0917\u0930 \u090a\u092a\u0930 \u0926\u093f\u090f \u0917\u090f \u0928\u0902\u092c\u0930 \u0915\u094b \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u0906\u090f\u0917\u093e \u0915\u093f 20 \u0938\u093e\u0932 \u0915\u0947 \u092c\u093e\u0926 \u0939\u093e\u0932\u093e\u0924 \u0921\u0930\u093e\u0935\u0928\u0947 \u0939\u094b \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0902\u0917\u0947 \u0906\u092a 8 \u0938\u093e\u0932 \u0915\u0947 \u092c\u093e\u0926, \u091c\u092c \u092a\u0942\u0930\u0940 \u0938\u0947\u0935\u093f\u0902\u0917 \u0928\u093f\u0915\u0932 \u091c\u093e\u090f\u0917\u0940\u0964 \u091c\u093c\u093f\u0926\u0917\u0940 \u0915\u0940 \u0917\u093e\u0921\u093c\u0940 \u0915\u0948\u0938\u0947 \u091a\u0932\u0947\u0917\u0940? \u0915\u094d\u092f\u093e \u0915\u094b\u0908 \u0924\u0930\u0940\u0915\u093e \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 20 \u0938\u093e\u0932 \u092e\u0947\u0902 1.7 \u0915\u0930\u094b\u0921\u093c \u0938\u0947 \u0915\u0939\u0940\u0902 \u091c\u094d\u092f\u093e\u0926\u093e \u0930\u0915\u092e \u091c\u094b\u0921\u093c\u0940 \u091c\u093e \u0938\u0915\u0947?", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u094d\u0925\u093f\u0924\u0940 \u0915\u094b \u0925\u094b\u0921\u093c\u0947 \u092c\u0926\u0932\u093e\u0935 \u0915\u0947 \u0938\u093e\u0925 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a\u0928\u0947 20 \u0939\u091c\u093e\u0930 \u0928\u0915\u0926 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u0930\u0916\u093e \u092c\u0932\u094d\u0915\u093f \u0907\u0938\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u093f\u092f\u093e \u090f\u0915 \u0910\u0938\u0947 \u0935\u093f\u0915\u0932\u094d\u092a \u092e\u0947\u0902 \u091c\u094b 12 \u092a\u0930\u0938\u0947\u0902\u091f \u0939\u0930 \u0938\u093e\u0932 \u0930\u093f\u091f\u0930\u094d\u0928 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930- \u092a\u0939\u0932\u0947 \u0938\u093e\u0932 \u092e\u0947\u0902 \u0906\u092a\u0928\u0947 \u092c\u091a\u093e\u090f 2,40,000, \u091c\u093f\u0938\u0947 \u0906\u092a\u0928\u0947\u0902 12 \u092a\u0930\u0938\u0947\u0902\u091f \u0915\u0940 \u0926\u0930 \u092a\u0930 \u0928\u093f\u0935\u0947\u0936 \u0915\u093f\u092f\u093e 20 \u0938\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f, \u0914\u0930 \u092f\u0947 \u0930\u0941\u092a\u092f\u0947 20 \u0938\u093e\u0932 \u092e\u0947\u0902 \u0939\u094b \u091c\u093e\u090f\u0901\u0917\u0947 20,67,063", "\u091c\u094b \u092a\u0948\u0938\u0947 \u0939\u0930 \u092e\u0939\u0940\u0928\u0947 \u092c\u091a\u0924\u0947 \u0939\u0948\u0902, \u0909\u0938\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u0938\u0947 \u0906\u092a\u0915\u0947 \u092a\u0948\u0938\u0947 \u0924\u0947\u091c\u093c \u0930\u092b\u094d\u0924\u093e\u0930 \u0938\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902, \u0914\u0930 \u0928\u0924\u0940\u091c\u093e \u0926\u093f\u0916\u0924\u093e \u0939\u0948- \u0905\u091a\u094d\u091b\u0940 \u0916\u093e\u0938\u0940 \u0930\u0915\u092e \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902\u0964 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0926\u0947\u0916\u093f\u090f 20 \u0938\u093e\u0932 \u0915\u0947 \u092c\u093e\u0926 \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u092a\u0939\u0932\u0947 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 1.76 \u0915\u0930\u094b\u0921\u093c \u0915\u0947 \u092c\u091c\u093e\u090f 4.26 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947 \u091c\u0941\u0921\u093c \u091c\u093e\u090f\u0902\u0917\u0947 \u091c\u094b 2.4 \u0917\u0941\u0923\u093e \u092c\u0922\u093c\u0924 \u0939\u0948\u0964 \u0914\u0930 \u0907\u0938 \u092c\u0922\u093c\u0924 \u0915\u093e \u0938\u093e\u092b \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0930\u093f\u091f\u093e\u092f\u0930\u092e\u0947\u0902\u091f \u0915\u0947 \u092c\u093e\u0926 \u0906\u092a\u0915\u0940 \u091c\u093c\u093f\u0902\u0926\u0917\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0938\u0941\u0915\u0942\u0928 \u0938\u0947 \u0915\u091f\u0947\u0917\u0940\u0964", "\u0905\u092c \u0906\u0924\u0947 \u0939\u0948\u0902, \u0909\u0938 \u0938\u0935\u093e\u0932 \u092a\u0930 \u091c\u094b \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u093e \u0936\u0940\u0930\u094d\u0937\u0915 \u0939\u0948- \u0928\u093f\u0935\u0947\u0936 \u0915\u094d\u092f\u094b\u0902 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0915\u0941\u091b \u092c\u0939\u0941\u0924 \u091c\u093c\u0930\u0942\u0930\u0940 \u0935\u091c\u0939\u0947 \u0939\u0948\u0902-", "\u0905\u092c \u0939\u092e\u0947\u0902 \u092f\u0947 \u092a\u0924\u093e \u091a\u0932 \u0917\u092f\u093e \u0939\u0948 \u0915\u093f \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e \u0915\u094d\u092f\u094b\u0902 \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964 \u0905\u0917\u0932\u093e \u0938\u0935\u093e\u0932 \u0939\u092e\u093e\u0930\u0947 \u092e\u0928 \u092e\u0947\u0902 \u0906\u0924\u093e \u0939\u0948 \u0915\u093f \u0928\u093f\u0935\u0947\u0936 \u0915\u0939\u093e\u0901 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f, \u0914\u0930 \u0915\u093f\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0930\u093f\u091f\u0930\u094d\u0928 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0947 \u0906\u092a\u0915\u094b \u091a\u0941\u0928\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u2013 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938, \u091c\u094b \u0906\u092a\u0915\u0947 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0915\u0940 \u0915\u094d\u0937\u092e\u0924\u093e \u0938\u0947 \u092e\u0947\u0932 \u0916\u093e\u0924\u093e \u0939\u094b\u0964 \u0930\u093f\u091f\u0930\u094d\u0928 \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u094b \u0905\u0932\u0917 \u0905\u0932\u0917 \u0915\u0948\u091f\u0947\u0917\u0930\u0940 \u092f\u093e \u0936\u094d\u0930\u0947\u0923\u0940 \u092e\u0947\u0902 \u092c\u093e\u0901\u091f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0928 \u0936\u094d\u0930\u0947\u0923\u093f\u092f\u094b\u0902 \u0915\u094b \u0905\u0902\u0917\u094d\u0930\u0947\u091c\u0940 \u092e\u0947\u0902 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u0941\u091b \u091c\u093e\u0928\u0947 \u092e\u093e\u0928\u0947 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u0915\u0947 \u0928\u093e\u092e \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u0939\u0948\u0902-", "\u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0907\u0938 \u0935\u093f\u0915\u0932\u094d\u092a \u092e\u0947\u0902 \u091c\u094b \u092e\u0942\u0932\u0927\u0928 ( \u092a\u094d\u0930\u093f\u0902\u0938\u093f\u092a\u0932 \u0905\u092e\u093e\u0909\u0902\u091f) \u0939\u094b\u0924\u093e \u0939\u0948, \u0935\u094b \u0938\u0941\u0930\u0915\u094d\u0937\u093f\u0924 \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0928\u093f\u0935\u0947\u0936 \u092a\u0930 \u0930\u093f\u091f\u0930\u094d\u0928 \u0906\u092a\u0915\u094b \u092c\u094d\u092f\u093e\u091c \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092e\u093f\u0932\u0924\u093e \u0939\u0948\u0964 \u092c\u094d\u092f\u093e\u091c \u0906\u092a\u0915\u094b \u0938\u093e\u0932\u093e\u0928\u093e, \u091b\u0939 \u092e\u0939\u0940\u0928\u0947 \u092f\u093e \u0924\u0940\u0928 \u092e\u0939\u0940\u0928\u0947 \u092a\u0930 \u092e\u093f\u0932 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0928\u093f\u0935\u0947\u0936 \u0915\u0940 \u092e\u093f\u092f\u093e\u0926 \u0916\u0924\u094d\u092e \u0939\u094b\u0928\u0947 \u092a\u0930, \u091c\u093f\u0938\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u093e \u092e\u0948\u091a\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u092a\u0940\u0930\u093f\u092f\u0921 \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902, \u092a\u0942\u0901\u091c\u0940 ( \u0915\u0948\u092a\u093f\u091f\u0932) \u0906\u092a\u0915\u094b \u0935\u093e\u092a\u0938 \u0926\u0947 \u0926\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "", "\u092b\u093f\u0915\u094d\u0938\u0921 \u0907\u0928\u0915\u092e \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0935\u093f\u0915\u0932\u094d\u092a", "\u091c\u0942\u0928 2014 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u0907\u0928\u0915\u092e \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f\u094d\u0938 \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 8 \u0938\u0947 11 \u092a\u0930\u0938\u0947\u0902\u091f \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0932\u093f\u0938\u094d\u091f \u0939\u0941\u0908 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e\u0964 \u0936\u0947\u092f\u0930 \u0915\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092f\u093e \u0916\u0930\u0940\u0926-\u092c\u093f\u0915\u094d\u0930\u0940 \u0926\u094b\u0928\u094b\u0902 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u2013 \u092c\u0949\u092e\u094d\u092c\u0947 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c (Bombay Stock Exchange- BSE) \u0914\u0930 \u0928\u0947\u0936\u0928\u0932 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c (National Stock Exchange- NSE) \u092a\u0930 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u091c\u092c \u0906\u092a \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u092a\u0942\u0901\u091c\u0940 \u092f\u093e \u0915\u0948\u092a\u093f\u091f\u0932 \u0915\u0940 \u0917\u093e\u0930\u0902\u091f\u0940 \u0924\u094b \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940 \u0932\u0947\u0915\u093f\u0928 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u091c\u094b \u0930\u093f\u091f\u0930\u094d\u0928 \u092e\u093f\u0932\u0924\u093e \u0939\u0948, \u0935\u094b \u0915\u093e\u092b\u0940 \u0906\u0915\u0930\u094d\u0937\u0915 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092d\u093e\u0930\u0924\u0940\u092f \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u092a\u093f\u091b\u0932\u0947 15 \u0938\u093e\u0932 \u092e\u0947\u0902 14-15 \u092a\u0930\u0938\u0947\u0902\u091f CAGR ( Compound Annual Growth Rate) \u0915\u0947 \u0906\u0938 \u092a\u093e\u0938 \u0930\u0939\u093e \u0939\u0948\u0964", "", "\u0915\u0908 \u091c\u093e\u0928\u0940-\u092e\u093e\u0928\u0940 \u092d\u0930\u094b\u0938\u0947\u092e\u0902\u0926 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0928\u0947 \u0932\u0902\u092c\u0947 \u0935\u0915\u094d\u0924 \u092e\u0947\u0902 20 \u092a\u0930\u0938\u0947\u0902\u091f CAGR \u0924\u0915 \u0915\u0940 \u0915\u092e\u093e\u0908 \u0915\u0930\u0935\u093e\u0908 \u0939\u0948\u0964\u00a0 \u0932\u0947\u0915\u093f\u0928 \u0910\u0938\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0922\u093c\u0942\u0901\u0922\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u0936\u0932\u0924\u093e, \u092e\u0947\u0939\u0928\u0924 \u0914\u0930 \u0938\u092c\u094d\u0930 \u0915\u0940 \u0938\u0916\u094d\u0924 \u091c\u093c\u0930\u0942\u0930\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0906\u092a \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 1 \u0938\u093e\u0932 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0905\u0935\u0927\u093f \u0915\u0947 \u0932\u093f\u090f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0928\u093f\u0935\u0947\u0936 \u0938\u0947 \u0928\u093f\u0915\u0932\u0928\u0947 \u092a\u0930 1 \u0932\u093e\u0916 \u0930\u0941\u092a\u092f\u0947 \u0924\u0915 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u091f\u0948\u0915\u094d\u0938 \u092b\u094d\u0930\u0940 \u0930\u0939\u0924\u093e \u0939\u0948\u0964 1 \u0932\u093e\u0916 \u0915\u0947 \u090a\u092a\u0930 \u0915\u0940 \u0915\u092e\u093e\u0908 \u092a\u0930 10 \u092a\u0930\u0938\u0947\u0902\u091f \u091f\u0948\u0915\u094d\u0938 \u0932\u0917\u0924\u093e \u0939\u0948\u0964 1 \u0905\u092a\u094d\u0930\u0948\u0932 2018 \u0938\u0947 \u092a\u0939\u0932\u0947 \u092f\u0947 \u0915\u092e\u093e\u0908 \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0938\u0947 \u091f\u0948\u0915\u094d\u0938 \u092b\u094d\u0930\u0940 \u0925\u0940\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u092d\u0940 \u092d\u0940 \u092f\u0947 \u091f\u0948\u0915\u094d\u0938 \u0930\u0947\u091f \u092c\u093e\u0915\u0940 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u0915\u092e \u0939\u0948\u0964", "", "\u0930\u093f\u092f\u0932 \u090f\u0938\u094d\u091f\u0947\u091f \u0915\u0947 \u0924\u0939\u0924 \u0906\u092a \u0928\u093f\u0935\u0947\u0936 \u092e\u0915\u093e\u0928, \u0926\u0941\u0915\u093e\u0928 \u092f\u093e \u091c\u093c\u092e\u0940\u0928 \u092e\u0947\u0902 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0928\u093f\u0935\u0947\u0936 \u0938\u0947 \u0926\u094b \u0924\u0930\u0939 \u0915\u0940 \u0915\u092e\u093e\u0908 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u090f\u0915 \u0915\u092e\u093e\u0908 \u0930\u0947\u0902\u091f \u092f\u093e \u0915\u093f\u0930\u093e\u090f \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948, \u0926\u0942\u0938\u0930\u0940 \u0915\u092e\u093e\u0908 \u092a\u094d\u0930\u0949\u092a\u0930\u094d\u091f\u0940 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0938\u0947 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938 \u0928\u093f\u0935\u0947\u0936 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u092a\u0947\u091a\u0940\u0926\u0917\u0940 \u0914\u0930 \u0909\u0932\u091d\u0928 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0935\u0915\u094d\u0924 \u092c\u0939\u0941\u0924 \u0932\u0917 \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0938\u093e\u0925 \u0939\u0940 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u092b\u0940 \u092c\u0921\u093c\u0940 \u0930\u0915\u092e \u0915\u0940 \u091c\u093c\u0930\u0942\u0930\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0930\u093f\u092f\u0932 \u090f\u0938\u094d\u091f\u0947\u091f \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0928\u093e\u092a\u0928\u0947 \u0915\u093e \u0915\u094b\u0908 \u0906\u0927\u093f\u0915\u093e\u0930\u093f\u0915 \u092b\u0949\u0930\u094d\u092e\u0942\u0932\u093e \u0928\u0939\u0940\u0902 \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0907\u0938 \u092a\u0930 \u091f\u093f\u092a\u094d\u092a\u0923\u0940 \u0915\u0930\u0928\u093e \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0939\u0948\u0964", "", "\u0938\u094b\u0928\u093e \u0914\u0930 \u091a\u093e\u0902\u0926\u0940 \u0928\u093f\u0935\u0947\u0936 \u0915\u093e \u091c\u093e\u0928\u093e-\u092e\u093e\u0928\u093e \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u0948\u0964 \u0932\u0902\u092c\u0947 \u0935\u0915\u094d\u0924 \u092e\u0947\u0902 \u0938\u094b\u0928\u093e \u0914\u0930 \u091a\u093e\u0902\u0926\u0940, \u0926\u094b\u0928\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0907\u091c\u093c\u093e\u092b\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 20 \u0938\u093e\u0932 \u0924\u0915 \u0915\u0947 \u0928\u093f\u0935\u0947\u0936 \u0938\u0947 \u0932\u0917\u092d\u0917 8 \u092a\u0930\u0938\u0947\u0902\u091f CAGR \u0924\u0915 \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u092e\u093f\u0932\u093e \u0939\u0948\u0964 \u0907\u0928\u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0917\u0939\u0928\u0947 \u0916\u0930\u0940\u0926 \u0915\u0930 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u092f\u093e \u092b\u093f\u0930 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u091f\u094d\u0930\u0947\u0921\u0947\u0921 \u092b\u0902\u0921 ( Exchange Traded Fund- ETF )\u00a0 \u0915\u0947 \u091c\u093c\u0930\u093f\u090f\u0964", "", "\u0939\u092e\u0928\u0947 \u091c\u094b \u0936\u0941\u0930\u0942\u0906\u0924 \u092e\u0947\u0902 \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u093f\u092f\u093e \u0925\u093e, \u0905\u092c \u0909\u0938\u0940 \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u092f\u0947 \u092a\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u0917\u0930 20 \u0938\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f \u0915\u094b\u0908 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u0907\u0928\u0915\u092e, \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0914\u0930 \u092c\u0941\u0932\u093f\u092f\u0928 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u093e \u0939\u0948, \u0924\u094b \u0915\u093f\u0924\u0928\u0940 \u0930\u0915\u092e \u091c\u0941\u0921\u093c\u0947\u0917\u0940\u0964", "\u0924\u094b \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0938\u092c\u0938\u0947 \u092c\u0922\u093c\u093f\u092f\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0926\u0947\u0924\u093e \u0939\u0948, \u0916\u093e\u0938\u0915\u0930 \u0924\u092c \u091c\u092c \u0906\u092a \u0932\u0902\u092c\u0947 \u0935\u0915\u094d\u0924 \u0915\u0947 \u0932\u093f\u090f \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u091c\u092c \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092f\u0947 \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u0928\u093e \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0938\u093e\u0930\u093e \u0928\u093f\u0935\u0947\u0936 \u090f\u0915 \u0939\u0940 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u092e\u0947\u0902 \u0928 \u0939\u094b\u0964 \u0928\u093f\u0935\u0947\u0936 \u0915\u094b \u0905\u0932\u0917 \u0905\u0932\u0917 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u092e\u0947\u0902 \u092c\u093e\u0901\u091f\u0928\u093e \u092c\u0939\u0941\u0924 \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948, \u0914\u0930 \u0907\u0938 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u094b \u090f\u0938\u0947\u091f \u090f\u0932\u094b\u0915\u0947\u0936\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, 23-25 \u0938\u093e\u0932 \u0915\u0940 \u0909\u092e\u094d\u0930 \u0935\u093e\u0932\u0947 \u092f\u0941\u0935\u093e \u092a\u094d\u0930\u094b\u092b\u0947\u0936\u0928\u0932 \u091c\u094d\u092f\u093e\u0926\u093e \u0930\u093f\u0938\u094d\u0915 \u0932\u0947 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0928\u0915\u0940 \u0909\u092e\u094d\u0930 \u0915\u092e \u0939\u0948 \u0914\u0930 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0932\u093f\u090f \u0935\u0915\u094d\u0924 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0909\u0928\u094d\u0939\u0947\u0902 \u0915\u0941\u0932 \u0928\u093f\u0935\u0947\u0936 \u0915\u093e \u0932\u0917\u092d\u0917 70 \u092a\u0930\u0938\u0947\u0902\u091f \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u0932\u0917\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f, 20 \u092a\u0930\u0938\u0947\u0902\u091f \u092c\u0941\u0932\u093f\u092f\u0928 \u092e\u0947\u0902 \u0914\u0930 \u092c\u093e\u0915\u0940 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u0907\u0928\u0915\u092e \u0928\u093f\u0935\u0947\u0936 \u092e\u0947\u0902\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0939 \u091c\u094b \u0928\u093f\u0935\u0947\u0936\u0915 \u0930\u093f\u091f\u093e\u092f\u0930 \u0939\u094b \u091a\u0941\u0915\u093e \u0939\u0948, \u0915\u093e\u092f\u0926\u0947 \u0938\u0947 \u0909\u0938\u0915\u0947 \u0915\u0941\u0932 \u0928\u093f\u0935\u0947\u0936 \u0915\u093e 80 \u092a\u0930\u0938\u0947\u0902\u091f \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u0907\u0928\u0915\u092e \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0941\u092e\u0947\u0902\u091f \u092e\u0947\u0902, 10 \u092a\u0930\u0938\u0947\u0902\u091f \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092e\u0947\u0902 \u0914\u0930 10 \u092a\u0930\u0938\u0947\u0902\u091f \u092c\u0941\u0932\u093f\u092f\u0928 \u092e\u0947\u0902 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u092f\u0947 \u091c\u094b \u0930\u0947\u0936\u094d\u092f\u094b \u0939\u0948 \u0915\u093f \u0915\u093f\u0938 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u092e\u0947\u0902 \u0915\u093f\u0924\u0928\u093e \u092a\u0930\u0938\u0947\u0902\u091f \u0928\u093f\u0935\u0947\u0936 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f, \u0935\u094b \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0915\u0940 \u0915\u094d\u0937\u092e\u0924\u093e \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "", "\u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0928\u093f\u0935\u0947\u0936 \u0936\u0941\u0930\u0942 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u092f\u0947 \u092c\u093e\u0924\u0947\u0902 \u091c\u093e\u0928 \u0914\u0930 \u0938\u092e\u091d \u0932\u0947\u0902 \u2013", "", "I understand that need to be investment", "Helpfull for everyone who need to increase his assets", "Thanks you for this", "Good luck and happy reading!", "contents covered are very helpful for beginners.", "Happy reading \ud83d\ude42", "It is nice reading to point.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/07/Ch1-title1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/07/fixed-inst-icon.png", "https://zerodha.com/varsity/wp-content/uploads/2014/07/equity-icon1.png", "https://zerodha.com/varsity/wp-content/uploads/2014/07/real-estate-icon.png", "https://zerodha.com/varsity/wp-content/uploads/2014/07/commodity-icon.png", "https://secure.gravatar.com/avatar/efeec4dd30905268b6893086a11437b5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b79267a113f0166a7db9146431b9ffe7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1a6b1bbdbd8ecd52250f07a575511c6a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9a59548a28c3a569bd27fe51595a9d5a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9000cbf24da44ef7392d221955c27d4b?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0935\u0930\u094d\u0937</th>\n<th>\u0938\u093e\u0932\u093e\u0928\u093e \u0906\u092f</th>\n<th>\u0938\u093e\u0932\u093e\u0928\u093e \u0935\u094d\u092f\u092f</th>\n<th>\u0928\u0915\u0926\u0940 \u092c\u091a\u0924</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>600000</td>\n<td>360000</td>\n<td>240000</td>\n</tr>\n<tr>\n<td>2</td>\n<td>660000</td>\n<td>388800</td>\n<td>271200</td>\n</tr>\n<tr>\n<td>3</td>\n<td>726000</td>\n<td>419904</td>\n<td>306096</td>\n</tr>\n<tr>\n<td>4</td>\n<td>798600</td>\n<td>453496</td>\n<td>345104</td>\n</tr>\n<tr>\n<td>5</td>\n<td>878460</td>\n<td>489776</td>\n<td>388684</td>\n</tr>\n<tr>\n<td>6</td>\n<td>966306</td>\n<td>528958</td>\n<td>437348</td>\n</tr>\n<tr>\n<td>7</td>\n<td>1062937</td>\n<td>571275</td>\n<td>491662</td>\n</tr>\n<tr>\n<td>8</td>\n<td>1169230</td>\n<td>616977</td>\n<td>552254</td>\n</tr>\n<tr>\n<td>9</td>\n<td>1286153</td>\n<td>666335</td>\n<td>619818</td>\n</tr>\n<tr>\n<td>10</td>\n<td>1414769</td>\n<td>719642</td>\n<td>695127</td>\n</tr>\n<tr>\n<td>11</td>\n<td>1556245</td>\n<td>777213</td>\n<td>779032</td>\n</tr>\n<tr>\n<td>12</td>\n<td>1711870</td>\n<td>839390</td>\n<td>872480</td>\n</tr>\n<tr>\n<td>13</td>\n<td>1883057</td>\n<td>906541</td>\n<td>976516</td>\n</tr>\n<tr>\n<td>14</td>\n<td>2071363</td>\n<td>979065</td>\n<td>1092298</td>\n</tr>\n<tr>\n<td>15</td>\n<td>2278499</td>\n<td>1057390</td>\n<td>1221109</td>\n</tr>\n<tr>\n<td>16</td>\n<td>2506349</td>\n<td>1141981</td>\n<td>1364368</td>\n</tr>\n<tr>\n<td>17</td>\n<td>2756984</td>\n<td>1233339</td>\n<td>1523644</td>\n</tr>\n<tr>\n<td>18</td>\n<td>3032682</td>\n<td>1332006</td>\n<td>1700676</td>\n</tr>\n<tr>\n<td>19</td>\n<td>3335950</td>\n<td>1438567</td>\n<td>1897383</td>\n</tr>\n<tr>\n<td>20</td>\n<td>3669545</td>\n<td>1553652</td>\n<td>2115893</td>\n</tr>\n<tr>\n<td></td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td></td>\n<td></td>\n<td><strong>\u0938\u092e\u094d\u092a\u0942\u0930\u094d\u0923 \u092c\u091a\u0924</strong></td>\n<td><strong>17890693</strong></td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0938\u093e\u0932</th>\n<th>\u0938\u093e\u0932\u093e\u0928\u093e \u0906\u092f</th>\n<th>\u0938\u093e\u0932\u093e\u0928\u093e \u0916\u0930\u094d\u091a</th>\n<th>\u091c\u092e\u093e \u0928\u0915\u0926</th>\n<th>12% \u0915\u0940 \u0926\u0930 \u092a\u0930 \u0935\u093f\u0915\u0932\u094d\u092a \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>600000</td>\n<td>360000</td>\n<td>240000</td>\n<td>2067063</td>\n</tr>\n<tr>\n<td>2</td>\n<td>660000</td>\n<td>388800</td>\n<td>271200</td>\n<td>2085519</td>\n</tr>\n<tr>\n<td>3</td>\n<td>726000</td>\n<td>419904</td>\n<td>306096</td>\n<td>2101668</td>\n</tr>\n<tr>\n<td>4</td>\n<td>798600</td>\n<td>453496</td>\n<td>345104</td>\n<td>2115621</td>\n</tr>\n<tr>\n<td>5</td>\n<td>878460</td>\n<td>489776</td>\n<td>388684</td>\n<td>2127487</td>\n</tr>\n<tr>\n<td>6</td>\n<td>966306</td>\n<td>528958</td>\n<td>437348</td>\n<td>2137368</td>\n</tr>\n<tr>\n<td>7</td>\n<td>1062937</td>\n<td>571275</td>\n<td>491662</td>\n<td>2145363</td>\n</tr>\n<tr>\n<td>8</td>\n<td>1169230</td>\n<td>616977</td>\n<td>552254</td>\n<td>2151566</td>\n</tr>\n<tr>\n<td>9</td>\n<td>1286153</td>\n<td>666335</td>\n<td>619818</td>\n<td>2156069</td>\n</tr>\n<tr>\n<td>10</td>\n<td>1414769</td>\n<td>719642</td>\n<td>695127</td>\n<td>2158959</td>\n</tr>\n<tr>\n<td>11</td>\n<td>1556245</td>\n<td>777213</td>\n<td>779032</td>\n<td>2160318</td>\n</tr>\n<tr>\n<td>12</td>\n<td>1711870</td>\n<td>839390</td>\n<td>872480</td>\n<td>2160228</td>\n</tr>\n<tr>\n<td>13</td>\n<td>1883057</td>\n<td>906541</td>\n<td>976516</td>\n<td>2158765</td>\n</tr>\n<tr>\n<td>14</td>\n<td>2071363</td>\n<td>979065</td>\n<td>1092298</td>\n<td>2156003</td>\n</tr>\n<tr>\n<td>15</td>\n<td>2278499</td>\n<td>1057390</td>\n<td>1221109</td>\n<td>2152012</td>\n</tr>\n<tr>\n<td>16</td>\n<td>2506349</td>\n<td>1141981</td>\n<td>1364368</td>\n<td>2146859</td>\n</tr>\n<tr>\n<td>17</td>\n<td>2756984</td>\n<td>1233339</td>\n<td>1523644</td>\n<td>2140611</td>\n</tr>\n<tr>\n<td>18</td>\n<td>3032682</td>\n<td>1332006</td>\n<td>1700676</td>\n<td>2133328</td>\n</tr>\n<tr>\n<td>19</td>\n<td>3335950</td>\n<td>1438567</td>\n<td>1897383</td>\n<td>2125069</td>\n</tr>\n<tr>\n<td>20</td>\n<td>3669545</td>\n<td>1553652</td>\n<td>2115893</td>\n<td>2115893</td>\n</tr>\n<tr>\n<td></td>\n<td></td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td></td>\n<td></td>\n<td><strong>20 \u0938\u093e\u0932 \u0915\u0947 \u092c\u093e\u0926 \u0928\u093f\u0935\u0947\u0936 \u0930\u093e\u0936\u093f</strong></td>\n<td></td>\n<td><strong>42695771</strong></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "1. \u092a\u0930\u093f\u092a\u094d\u0930\u0947\u0915\u094d\u0937\u094d\u092f", "text": ["\u092a\u093f\u091b\u0932\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093c\u0930\u0942\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0915\u0930 \u0932\u0940 \u0939\u0948\u0964 \u0905\u092c \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u0938\u092b\u0932 \u0939\u094b\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0905\u091a\u094d\u091b\u0947 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0905\u092a\u0928\u093e \u0928\u091c\u0930\u093f\u092f\u093e \u0924\u0948\u092f\u093e\u0930 \u0915\u0930\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964 \u090f\u0915 \u0905\u091a\u094d\u091b\u0947 \u0928\u091c\u0930\u093f\u090f \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0926\u093f\u0936\u093e \u0915\u093e \u0905\u0902\u0926\u093e\u091c\u093e \u0924\u094b \u0939\u094b \u0939\u0940 \u0938\u093e\u0925 \u092e\u0947\u0902 \u0915\u0941\u091b \u0914\u0930 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092d\u0940 \u0939\u094b \u091c\u0948\u0938\u0947\u2026", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 (TA \u092f\u093e \u091f\u0940 \u090f) \u0935\u094b \u0924\u0915\u0928\u0940\u0915 \u0939\u0948 \u091c\u094b \u0906\u092a\u0915\u094b \u0907\u0928 \u0938\u093e\u0930\u0947 \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u0947 \u091c\u0935\u093e\u092c \u0926\u0947 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0936\u0947\u092f\u0930 \u0914\u0930 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0926\u094b\u0928\u094b\u0902 \u092a\u0930 \u0928\u091c\u0930\u093f\u092f\u093e \u0924\u0948\u092f\u093e\u0930 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0938\u093e\u0925 \u0939\u0940 \u090f\u0928\u094d\u091f\u094d\u0930\u0940 \u092f\u093e\u0928\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092a\u094d\u0930\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u0915\u093e \u0938\u0939\u0940 \u0938\u092e\u092f, \u090f\u0915\u094d\u091c\u093f\u091f \u092f\u093e\u0928\u0940 \u0928\u093f\u0915\u0932\u0928\u0947 \u0915\u093e \u0938\u0939\u0940 \u0938\u092e\u092f \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0905\u092a\u0928\u093e \u0938\u094c\u0926\u093e \u092d\u0940 \u092b\u093e\u0907\u0928\u0932 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0930\u093f\u0938\u0930\u094d\u091a \u0915\u0940 \u0938\u093e\u0930\u0940 \u0924\u0915\u0928\u0940\u0915\u094b\u0902 \u0915\u0940 \u0924\u0930\u0939 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0940 \u0905\u092a\u0928\u0940 \u0935\u093f\u0936\u093f\u0937\u094d\u091f\u0924\u093e\u090f\u0902 \u0939\u0948\u0902 \u091c\u094b \u0915\u0908 \u092c\u093e\u0930 \u0915\u093e\u092b\u0940 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0932\u0917 \u0938\u0915\u0924\u0940 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u091f\u0947\u0915\u094d\u0928\u093e\u0932\u0949\u091c\u0940 \u0907\u0938\u0915\u094b \u0915\u0941\u091b \u0906\u0938\u093e\u0928 \u092c\u0928\u093e \u0926\u0947\u0924\u0940 \u0939\u0948\u0964", "\u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0939\u092e \u0907\u0928 \u0935\u093f\u0936\u093f\u0937\u094d\u091f\u0924\u093e\u0913\u0902 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a \u0935\u093f\u0926\u0947\u0936 \u092e\u0947\u0902 \u091b\u0941\u091f\u094d\u091f\u0940 \u092e\u0928\u093e \u0930\u0939\u0947 \u0939\u0948\u0902, \u090f\u0915 \u0910\u0938\u0947 \u0926\u0947\u0936 \u092e\u0947\u0902 \u091c\u0939\u093e\u0901 \u092d\u093e\u0937\u093e, \u092e\u094c\u0938\u092e, \u0930\u0939\u0928\u2013\u0938\u0939\u0928, \u0916\u093e\u0928\u093e \u0938\u092c \u0915\u0941\u091b \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0928\u092f\u093e \u0939\u0948\u0964 \u092a\u0939\u0932\u0947 \u0926\u093f\u0928 \u0906\u092a \u0926\u093f\u0928 \u092d\u0930 \u0918\u0942\u092e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0936\u093e\u092e \u0924\u0915 \u0906\u092a\u0915\u094b \u091c\u094b\u0930 \u0915\u0940 \u092d\u0942\u0916 \u0932\u0917 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0906\u092a \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0916\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948 \u0915\u093f \u092a\u093e\u0938 \u092e\u0947\u0902 \u0939\u0940 \u090f\u0915 \u091c\u0917\u0939 \u0939\u0948 \u091c\u0939\u093e\u0901 \u0916\u093e\u0928\u0947 \u092a\u0940\u0928\u0947 \u0915\u0940 \u0915\u0908 \u092e\u0936\u0939\u0942\u0930 \u0926\u0941\u0915\u093e\u0928\u0947\u0902 \u0939\u0948\u0902\u0964 \u0906\u092a \u0909\u0938\u0947 \u0906\u091c\u092e\u093e\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0935\u0939\u093e\u0901 \u091c\u093e \u0915\u0930 \u0906\u092a\u0915\u094b \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u0926\u0941\u0915\u093e\u0928\u0947\u0902 \u0926\u093f\u0916\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u0935\u0939\u093e\u0901 \u092c\u093f\u0915 \u0930\u0939\u0940 \u0939\u0930 \u091a\u0940\u091c \u0905\u0932\u0917 \u0914\u0930 \u092e\u091c\u0947\u0926\u093e\u0930 \u0926\u093f\u0916\u0924\u0940 \u0939\u0948\u0964 \u0905\u092c \u0906\u092a \u0905\u0938\u092e\u0902\u091c\u0938 \u092e\u0947\u0902 \u0939\u0948\u0902 \u0915\u093f \u0915\u094d\u092f\u093e \u0916\u093e\u092f\u093e \u091c\u093e\u090f? \u0906\u092a \u0932\u094b\u0917\u094b\u0902 \u0938\u0947 \u092a\u0942\u091b \u092d\u0940 \u0928\u0939\u0940\u0902 \u0938\u0915\u0924\u0947 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092d\u093e\u0937\u093e \u0906\u092a\u0915\u094b \u0928\u0939\u0940\u0902 \u0906\u0924\u0940\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0905\u092c \u0906\u092a \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0902\u0917\u0947? \u0915\u094d\u092f\u093e \u0916\u093e\u090f\u0902\u0917\u0947?", "", "\u0906\u092a\u0915\u0947 \u0938\u093e\u092e\u0928\u0947 \u0926\u094b \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u0948\u0902", "\u0935\u093f\u0915\u0932\u094d\u092a 1: \u0906\u092a \u092a\u0939\u0932\u0940 \u0926\u0941\u0915\u093e\u0928 \u092a\u0930 \u091c\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u093f \u0935\u0939 \u0915\u094d\u092f\u093e \u092a\u0915\u093e \u0930\u0939\u093e \u0939\u0948\u0964 \u092a\u0915\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0935\u094b \u0915\u093f\u0928-\u0915\u093f\u0928 \u091a\u0940\u091c\u094b\u0902 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u0930\u0939\u093e \u0939\u0948, \u0909\u0938\u0915\u0947 \u092a\u0915\u093e\u0928\u0947 \u0915\u093e \u0924\u0930\u0940\u0915\u093e \u0915\u094d\u092f\u093e \u0939\u0948, \u0914\u0930 \u0939\u094b \u0938\u0915\u0947 \u0924\u094b \u0925\u094b\u0921\u093c\u093e \u0938\u093e \u091a\u0916 \u0915\u0930 \u092d\u0940 \u0926\u0947\u0916\u0947\u0902\u0917\u0947\u0964 \u0924\u092c \u0906\u092a \u0924\u092f \u0915\u0930 \u092a\u093e\u090f\u0902\u0917\u0947 \u0915\u093f \u092f\u0939 \u091a\u0940\u091c \u0906\u092a\u0915\u0947 \u0916\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u0940 \u0939\u0948 \u092f\u093e \u0928\u0939\u0940\u0902\u0964 \u091c\u092c \u092f\u0939 \u0915\u093e\u092e \u0906\u092a \u0939\u0930 \u0935\u093f\u0915\u094d\u0930\u0947\u0924\u093e \u0915\u0947 \u0938\u093e\u0925 \u0915\u0930\u0947\u0902\u0917\u0947, \u0924\u092c \u0906\u092a \u0905\u092a\u0928\u0940 \u092a\u0938\u0902\u0926 \u0915\u0940 \u091c\u0917\u0939 \u0922\u0942\u0902\u0922 \u092a\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u092e\u0928\u092a\u0938\u0902\u0926 \u091a\u0940\u091c \u0916\u093e \u092a\u093e\u090f\u0902\u0917\u0947\u0964 \u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u092f\u0939 \u0939\u0948 \u0915\u093f \u0906\u092a \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0938\u0902\u0924\u0941\u0937\u094d\u091f \u0930\u0939\u0947\u0902\u0917\u0947 \u0915\u093f \u0906\u092a \u0915\u094d\u092f\u093e \u0916\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u0915\u094b \u0916\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0928\u0947 \u0916\u0941\u0926 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u0940 \u0939\u0948\u0964", "\u0932\u0947\u0915\u093f\u0928 \u0926\u093f\u0915\u094d\u0915\u0924 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 100 \u092f\u093e \u0909\u0938\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0926\u0941\u0915\u093e\u0928\u0947\u0902 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a \u0939\u0930 \u0926\u0941\u0915\u093e\u0928 \u0915\u094b \u0916\u0941\u0926 \u091a\u0947\u0915 \u0928\u0939\u0940\u0902 \u0915\u0930 \u092a\u093e\u090f\u0902\u0917\u0947\u0964 \u0905\u0917\u0930 \u091c\u094d\u092f\u093e\u0926\u093e \u0926\u0941\u0915\u093e\u0928\u0947\u0902 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0914\u0930 \u092d\u0940 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0938\u092e\u092f \u0915\u0940 \u0915\u092e\u0940 \u092d\u0940 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0916\u0921\u093c\u0940 \u0915\u0930 \u0938\u0915\u0924\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0906\u092a \u0915\u0941\u091b \u0939\u0940 \u0926\u0941\u0915\u093e\u0928\u094b\u0902 \u0924\u0915 \u091c\u093e \u092a\u093e\u090f\u0902\u0917\u0947\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u092f\u0939 \u0938\u0902\u092d\u0935 \u0939\u0948 \u0915\u093f \u0906\u092a \u0938\u0947 \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u0940 \u091a\u0940\u091c \u0939\u0940 \u091b\u0942\u091f \u091c\u093e\u090f\u0964", "\u0935\u093f\u0915\u0932\u094d\u092a 2: \u0906\u092a \u090f\u0915 \u091c\u0917\u0939 \u0916\u0921\u093c\u0947 \u0939\u094b\u0915\u0930 \u092a\u0942\u0930\u0947 \u092c\u093e\u091c\u093e\u0930 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0947\u0902\u0964 \u092f\u0939 \u0926\u0947\u0916\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902 \u0915\u093f \u0915\u093f\u0938 \u0926\u0941\u0915\u093e\u0928 \u092a\u0930 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092d\u0940\u0921\u093c \u0932\u0917\u0940 \u0939\u0948 \u0914\u0930 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u093f\u0915\u094d\u0930\u0940 \u0939\u094b \u0930\u0939\u0940 \u0939\u0948\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0906\u092a \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0909\u0938 \u0926\u0941\u0915\u093e\u0928 \u092e\u0947\u0902 \u091c\u0930\u0942\u0930 \u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u0916\u093e\u0928\u093e \u092e\u093f\u0932 \u0930\u0939\u093e \u0939\u094b\u0917\u093e \u0924\u092d\u0940 \u0935\u0939\u093e\u0902 \u0907\u0924\u0928\u0940 \u092d\u0940\u0921\u093c \u0939\u0948\u0964 \u0905\u092a\u0928\u0947 \u0905\u0928\u0941\u092e\u093e\u0928 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0906\u092a \u0909\u0938 \u0926\u0941\u0915\u093e\u0928 \u092a\u0930 \u091c\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u0935\u0939\u093e\u0902 \u0916\u093e\u0928\u093e \u0916\u093e\u090f\u0902\u0917\u0947\u0964 \u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0907\u0938 \u092c\u093e\u0924 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0917\u0940 \u0915\u093f \u0906\u092a \u0915\u094b \u0909\u0938 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u0916\u093e\u0928\u093e \u092e\u093f\u0932 \u0938\u0915\u0947\u0964", "\u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u092f\u0939 \u0939\u0948 \u0915\u093f \u0906\u092a \u0905\u0927\u093f\u0915 \u0938\u0947 \u0905\u0927\u093f\u0915 \u0905\u091a\u094d\u091b\u0940 \u0926\u0941\u0915\u093e\u0928\u094b\u0902 \u0915\u094b \u091c\u0932\u094d\u0926\u0940 \u0938\u0947 \u0916\u094b\u091c \u092a\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0935\u093e\u0932\u0940 \u092d\u0940\u0921\u093c \u0935\u093e\u0932\u0940 \u0926\u0941\u0915\u093e\u0928 \u092a\u0930 \u0926\u093e\u0901\u0935 \u0932\u0917\u093e\u0915\u0930 \u0905\u091a\u094d\u091b\u093e \u0916\u093e\u0928\u093e \u092a\u093e\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u092d\u0940\u0921\u093c \u0915\u0940 \u092a\u0938\u0902\u0926 \u0917\u0932\u0924 \u0939\u094b \u0914\u0930 \u0906\u092a\u0915\u094b \u0939\u0930 \u092c\u093e\u0930 \u0905\u091a\u094d\u091b\u093e \u0916\u093e\u0928\u093e \u0928\u093e \u092e\u093f\u0932\u0947\u0964", "\u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u0935\u093f\u0915\u0932\u094d\u092a\u094b\u0902 \u0915\u094b \u092a\u0922\u093c\u0915\u0930 \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u092e\u0947\u0902 \u0906 \u0939\u0940 \u0917\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u092a\u0939\u0932\u093e \u0935\u093f\u0915\u0932\u094d\u092a \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u091c\u0948\u0938\u093e \u0939\u0948, \u091c\u0939\u093e\u0902 \u092a\u0930 \u0906\u092a \u0916\u0941\u0926 \u0915\u0941\u091b \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0917\u0939\u0930\u093e\u0908 \u0938\u0947 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0905\u0917\u0932\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0935\u093f\u0915\u0932\u094d\u092a \u0926\u094b \u091c\u094d\u092f\u093e\u0926\u093e \u0915\u0930\u0940\u092c \u0939\u0948 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u0906\u092a \u092a\u0942\u0930\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092e\u094c\u0915\u0947 \u0924\u0932\u093e\u0936\u0924\u0947 \u0939\u0948\u0902 \u092f\u0939 \u0926\u0947\u0916\u0924\u0947 \u0939\u0941\u090f \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0907\u0938 \u0938\u092e\u092f \u0915\u093f\u0927\u0930 \u091c\u093e \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u092a\u0938\u0902\u0926 \u0915\u094d\u092f\u093e \u0939\u0948? \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0940 \u0924\u0915\u0928\u0940\u0915 \u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092e\u094c\u091c\u0942\u0926 \u0938\u092d\u0940 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0940 \u092a\u0938\u0902\u0926 \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0941\u090f \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u092e\u094c\u0915\u0947 \u0922\u0942\u0902\u0922\u0947 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u091c\u094d\u092f\u093e\u0926\u093e\u0924\u0930 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0940 \u092a\u0938\u0902\u0926 \u0915\u094d\u092f\u093e \u0939\u0948 \u0907\u0938 \u0915\u094b \u092a\u0939\u091a\u093e\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0936\u0947\u092f\u0930 \u092f\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f(chart/graph) \u0915\u094b \u0926\u0947\u0916\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0915\u0941\u091b \u0938\u092e\u092f \u092c\u093e\u0926 \u0909\u0938 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u090f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928 \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0926\u0947\u0916\u0915\u0930 \u0906\u092a \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u0938\u092e\u091d \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f (Technical Analyst) \u0915\u093e \u0915\u093e\u092e \u0939\u0948 \u0915\u093f \u0935\u094b \u0907\u0938 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0938\u092e\u091d\u0947 \u0914\u0930 \u0905\u092a\u0928\u093e \u0928\u091c\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u090f\u0964", "\u0915\u093f\u0938\u0940 \u092d\u0940 \u0926\u0942\u0938\u0930\u0940 \u0930\u093f\u0938\u0930\u094d\u091a \u0924\u0915\u0928\u0940\u0915 \u0915\u0940 \u0924\u0930\u0939 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u092d\u0940 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u092e\u093e\u0928\u0915\u0930 \u091a\u0932\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0947 \u0932\u094b\u0917\u094b\u0902 \u0915\u094b \u0907\u0928 \u0927\u093e\u0930\u0923\u093e\u0913\u0902 \u0915\u094b \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u0930\u0916 \u0915\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0939\u092e \u091c\u0948\u0938\u0947 \u091c\u0948\u0938\u0947 \u0906\u0917\u0947 \u092c\u0922\u093c\u0947\u0902\u0917\u0947 \u0906\u092a \u0907\u0928 \u0927\u093e\u0930\u0923\u093e\u0913\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0938\u092e\u091d \u092a\u093e\u090f\u0902\u0917\u0947\u0964", "\u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0914\u0930 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u092c\u0947\u0939\u0924\u0930 \u0915\u094c\u0928 \u0939\u0948 \u0907\u0938 \u092a\u0930 \u0915\u0908 \u092c\u093e\u0930 \u092c\u0939\u0938 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u0940 \u0924\u0915\u0928\u0940\u0915 \u091c\u0948\u0938\u0940 \u0915\u094b\u0908 \u091a\u0940\u091c \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940\u0964 \u0939\u0930 \u0924\u0915\u0928\u0940\u0915 \u0915\u0940 \u092e\u091c\u092c\u0942\u0924\u093f\u092f\u093e\u0902 \u0914\u0930 \u0915\u092e\u091c\u094b\u0930\u093f\u092f\u093e\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902\u0964", "\u0926\u094b\u0928\u094b\u0902 \u0924\u0915\u0928\u0940\u0915 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0928\u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0924\u0941\u0932\u0928\u093e \u0915\u0930\u0928\u0947 \u091c\u0948\u0938\u093e \u0915\u0941\u091b \u0939\u0948 \u0928\u0939\u0940\u0902\u0964 \u090f\u0915 \u0938\u092e\u091d\u0926\u093e\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0935\u0939 \u0939\u0948 \u091c\u094b \u0926\u094b\u0928\u094b\u0902 \u0924\u0915\u0928\u0940\u0915 \u0915\u094b \u091c\u093e\u0928\u0924\u093e \u0939\u094b \u0914\u0930 \u0909\u0928\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u0947 \u0915\u092e\u093e\u0908 \u0915\u0947 \u092e\u094c\u0915\u0947 \u0924\u0932\u093e\u0936 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u094b\u0964", "\u0915\u0908 \u0932\u094b\u0917 \u092f\u0939 \u0938\u094b\u091a\u0915\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0906\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0930\u093e\u0938\u094d\u0924\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u091c\u0932\u094d\u0926\u0940 \u0938\u0947 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u093e \u092a\u0948\u0938\u093e \u0915\u092e\u093e \u0932\u0947\u0902\u0917\u0947\u0964 \u0932\u0947\u0915\u093f\u0928 \u0938\u091a\u094d\u091a\u093e\u0908 \u092f\u0939 \u0939\u0948 \u0915\u093f \u092f\u0947 \u0928\u093e \u0924\u094b \u0906\u0938\u093e\u0928 \u0939\u0948 \u0914\u0930 \u0928\u093e \u0924\u094b \u091c\u0932\u094d\u0926\u0940 \u092a\u0948\u0938\u093e \u092c\u0928\u093e\u0928\u0947 \u0915\u093e \u0930\u093e\u0938\u094d\u0924\u093e\u0964 \u0939\u093e\u0901, \u092f\u0947 \u0938\u0939\u0940 \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0920\u0940\u0915 \u0938\u0947 \u0915\u093f\u092f\u093e \u091c\u093e\u090f \u0924\u094b \u092c\u0921\u093c\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u092e\u093f\u0932 \u0938\u0915\u0924\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u092e\u0947\u0939\u0928\u0924 \u0915\u0930\u0928\u0940 \u0939\u094b\u0917\u0940 \u0914\u0930 \u092f\u0939 \u0924\u0915\u0928\u0940\u0915 \u0938\u0940\u0916\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u0905\u0917\u0930 \u0906\u092a \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0930\u093e\u0938\u094d\u0924\u0947 \u091c\u0932\u094d\u0926\u0940-\u091c\u0932\u094d\u0926\u0940 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u093e \u092a\u0948\u0938\u093e \u092c\u0928\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a \u092c\u0939\u0941\u0924 \u092c\u0921\u093c\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b \u091c\u093e\u090f\u0964 \u091c\u092c \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u092a\u0948\u0938\u0947 \u0921\u0942\u092c \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0932\u094b\u0917 \u0907\u0938\u0915\u093e \u0938\u093e\u0930\u093e \u091c\u093f\u092e\u094d\u092e\u093e \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092a\u0930 \u0921\u093e\u0932 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c\u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0940 \u0917\u0932\u0924\u0940 \u092a\u0930 \u0928\u091c\u093c\u0930 \u0928\u0939\u0940\u0902 \u0921\u093e\u0932\u0924\u0947\u0964 \u0907\u0938\u0932\u093f\u090f \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0905\u092a\u0928\u0940 \u0909\u092e\u094d\u092e\u0940\u0926\u094b\u0902 \u0915\u094b \u0915\u093e\u092c\u0942 \u092e\u0947\u0902 \u0930\u0916\u0947\u0902 \u0914\u0930 \u0938\u092e\u091d\u0947\u0902\u0964", "", "", "ITS NICE SIR STUDY MATERIAL IN HINDI. EVEN THOUGH IN ENGLISH IS NOT A ISSUE BUT LEARING IN HINDI IS TOO SIMPLE", "Glad to note that \ud83d\ude42", "Please provide Hindi pdf of zerodha varsity.", "Sir pdf files required in hindi", "Will do. Thanks.", "Vry good containt\nThanks alot", "Cheers! Happy reading.", "Sir zerodha varsity all chapter should be translation in Hindi language thank.", "We are working on it.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch1-title.jpg", "https://secure.gravatar.com/avatar/58a2637e710674040825536b48b61a80?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b0483be91f4ef6ca9a9288d5aa224c2b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a4a6d0d427a91f322aa3a303167bfcf8?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/db1b428575621caa01cbaa4af95ef35a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/7b89dc7964275874e66f24c1980b036b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "2. \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0938\u0947 \u092a\u0930\u093f\u091a\u092f", "text": ["\u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0940 \u092a\u0930\u093f\u092d\u093e\u0937\u093e \u0915\u094b \u0938\u092e\u091d\u093e\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u0907\u0938\u0915\u0940 \u0905\u0935\u0927\u093e\u0930\u0923\u093e\u0913\u0902 \u0914\u0930 \u0907\u0938\u0915\u0947 \u0915\u0941\u091b \u0909\u092a\u092f\u094b\u0917\u093f\u0924\u093e\u0913\u0902 \u0915\u094b \u091c\u093e\u0928\u0947\u0902\u0917\u0947\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0940 \u0938\u092c \u0938\u0947 \u0916\u093e\u0938 \u0909\u092a\u092f\u094b\u0917\u093f\u0924\u093e \u092f\u0939 \u0939\u0948 \u0915\u093f \u0915\u093f\u0938\u0940 \u092d\u0940 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u092e\u0947\u0902 \u0907\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0936\u0930\u094d\u0924 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u0939\u0948 \u0915\u093f \u0909\u0938 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u0915\u093e \u092a\u0941\u0930\u093e\u0928\u093e \u0910\u0924\u093f\u0939\u093e\u0938\u093f\u0915 \u0921\u093e\u091f\u093e \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u094b\u0964 \u0910\u0924\u093f\u0939\u093e\u0938\u093f\u0915 \u0921\u093e\u091f\u093e \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0909\u0938 \u0910\u0938\u0947\u091f \u0915\u093e \u0913\u092a\u0928, \u0939\u093e\u0908, \u0932\u094b, \u0915\u094d\u0932\u094b\u091c (OHLC) \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u093e \u0921\u093e\u091f\u093e \u092e\u094c\u091c\u0942\u0926 \u0939\u094b\u0964", "\u0907\u0938\u0947 \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u090f\u0915 \u092c\u093e\u0930 \u0915\u093e\u0930 \u091a\u0932\u093e\u0928\u093e \u0938\u0940\u0916 \u0932\u093f\u092f\u093e \u0924\u094b \u0906\u092a \u0915\u093f\u0938\u0940 \u092d\u0940 \u0924\u0930\u0940\u0915\u0947 \u0915\u0940 \u0915\u093e\u0930 \u091a\u0932\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u090f\u0915 \u092c\u093e\u0930 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0938\u0940\u0916 \u0932\u093f\u092f\u093e \u0924\u094b \u0906\u092a \u0907\u0938\u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0936\u0947\u092f\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917, \u0915\u092e\u094b\u0921\u093f\u091f\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917, \u0935\u093f\u0926\u0947\u0936\u0940 \u092e\u0941\u0926\u094d\u0930\u093e \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917, \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u0907\u0928\u0915\u092e \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f, \u0915\u0939\u0940\u0902 \u092d\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0915\u093f\u0938\u0940 \u092d\u0940 \u0926\u0942\u0938\u0930\u0947 \u0924\u0930\u0940\u0915\u0947 \u0915\u0940 \u0924\u0915\u0928\u0940\u0915 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u093e \u092f\u0939 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0939\u0930 \u0936\u0947\u092f\u0930 \u0915\u093e \u0918\u093e\u091f\u093e \u092e\u0941\u0928\u093e\u092b\u093e, \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f, \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u091c\u0948\u0938\u0940 \u0924\u092e\u093e\u092e \u091a\u0940\u091c\u0947\u0902 \u0926\u0947\u0916\u0928\u0940 \u092a\u0921\u093c\u0924\u0940 \u0939\u0948 \u091c\u092c\u0915\u093f \u0915\u092e\u094b\u0921\u093f\u091f\u0940 \u0915\u0947 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u0907\u0928\u092e\u0947\u0902 \u0938\u0947 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u091a\u0940\u091c\u0947\u0902 \u0915\u093e\u092e \u0928\u0939\u0940\u0902 \u0906\u0924\u0940\u0964 \u0906\u092a\u0915\u094b \u0928\u090f \u0924\u0930\u0940\u0915\u0947 \u0915\u093e \u0921\u093e\u091f\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0906\u092a \u0916\u0947\u0924\u0940 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0915\u092e\u094b\u0921\u093f\u091f\u0940 \u091c\u0948\u0938\u0947 \u0915\u0949\u092b\u0940 \u092f\u093e \u0915\u093e\u0932\u0940 \u092e\u093f\u0930\u094d\u091a \u0915\u0940 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a\u0915\u094b \u092e\u0949\u0928\u0938\u0942\u0928, \u0909\u092a\u091c \u092f\u093e \u092a\u0948\u0926\u093e\u0935\u093e\u0930, \u092e\u093e\u0902\u0917, \u0906\u092a\u0942\u0930\u094d\u0924\u093f, \u0930\u0916\u093e \u0939\u0941\u0906 \u092e\u093e\u0932 \u091c\u0948\u0938\u0940 \u0924\u092e\u093e\u092e \u091a\u0940\u091c\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u091c\u0941\u091f\u093e\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0905\u0917\u0930 \u0927\u093e\u0924\u0941 \u092f\u093e \u092e\u0947\u091f\u0932 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092f\u093e \u090f\u0928\u0930\u094d\u091c\u0940 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0915\u092e\u094b\u0921\u093f\u091f\u0940 \u091c\u0948\u0938\u0947 \u0915\u091a\u094d\u091a\u093e \u0924\u0947\u0932 \u0915\u0940 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0930\u0928\u093e \u0939\u0948, \u0924\u094b \u0906\u092a\u0915\u094b \u0905\u0932\u0917 \u0924\u0930\u0939 \u0915\u093e \u0921\u093e\u091f\u093e \u091a\u093e\u0939\u093f\u090f \u0939\u094b\u0917\u093e\u0964", "\u0932\u0947\u0915\u093f\u0928 \u0939\u0930 \u090f\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u0915\u0940 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u090f\u0915 \u0939\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0939\u0940 \u0915\u0940 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0928\u094d\u0935\u0930\u094d\u0938 \u0921\u093e\u092f\u0935\u0930\u094d\u091c\u0947\u0902\u0938 (MACD- moving average convergence divergence) \u092f\u093e \u0930\u093f\u0932\u0947\u091f\u093f\u0935 \u0938\u094d\u091f\u094d\u0930\u0947\u0902\u0925 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 (RSI-Relative Strength Index) \u0915\u094b \u0915\u093f\u0938\u0940 \u092d\u0940 \u0910\u0938\u0947\u091f \u0915\u094d\u0932\u093e\u0938 \u091c\u0948\u0938\u0947 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0915\u092e\u094b\u0921\u093f\u091f\u0940 \u092f\u093e \u0915\u0930\u0947\u0902\u0938\u0940 \u092e\u0947\u0902 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0907\u0938 \u092c\u093e\u0924 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0928\u0939\u0940\u0902 \u0926\u0947\u0924\u0940 \u0915\u093f \u0915\u094b\u0908 \u0936\u0947\u092f\u0930 \u0905\u0902\u0921\u0930\u0935\u0948\u0932\u094d\u092f\u0942\u0921 \u092f\u093e\u0928\u0940 \u0905\u092a\u0928\u0940 \u0935\u093e\u0938\u094d\u0924\u0935\u093f\u0915 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0938\u0938\u094d\u0924\u093e \u0939\u0948 \u092f\u093e \u0913\u0935\u0930\u0935\u0948\u0932\u094d\u092f\u0942\u0921 \u092f\u093e\u0928\u0940 \u0905\u092a\u0928\u0940 \u0935\u093e\u0938\u094d\u0924\u0935\u093f\u0915 \u0915\u0940\u092e\u0924 \u0938\u0947 \u092e\u0939\u0902\u0917\u093e \u0939\u0948\u0964 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u091a\u0940\u091c \u0915\u093e \u092e\u0939\u0924\u094d\u0935 \u0939\u0948\u2013 \u0914\u0930 \u0935\u0939 \u0939\u0948 \u0936\u0947\u092f\u0930 \u0915\u093e \u092a\u0941\u0930\u093e\u0928\u093e \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0921\u093e\u091f\u093e \u0914\u0930 \u092f\u0939 \u0921\u093e\u091f\u093e \u0906\u0917\u0947 \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u0938\u092e\u092f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u0938\u0902\u0915\u0947\u0924 \u0926\u0947 \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0941\u091b \u092e\u0942\u0932\u092d\u0942\u0924 \u0905\u0935\u0927\u093e\u0930\u0923\u093e\u0913\u0902 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948, \u091c\u093f\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948:", "", "\u092d\u093e\u0930\u0924\u0940\u092f \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0938\u0941\u092c\u0939 9:15 \u0938\u0947 3:30 \u092c\u091c\u0947 \u0924\u0915 \u0916\u0941\u0932\u0947 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0928 6.15 \u0918\u0902\u091f\u094b\u0902 \u092e\u0947\u0902 \u0932\u093e\u0916\u094b\u0902 \u091f\u094d\u0930\u0947\u0921 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u093f\u0938\u0940 \u090f\u0915 \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u092d\u0940 \u0939\u0930 \u092e\u093f\u0928\u091f \u0915\u094b\u0908 \u0928\u093e \u0915\u094b\u0908 \u0938\u094c\u0926\u093e \u0939\u094b \u0930\u0939\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0938\u0935\u093e\u0932 \u092f\u0939 \u0909\u0920\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092d\u093e\u0917\u0940\u0926\u093e\u0930 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0915\u094d\u092f\u093e \u0939\u092e\u0947\u0902 \u0939\u0930 \u0938\u094c\u0926\u0947 \u092a\u0930 \u0928\u091c\u0930 \u0930\u0916\u0928\u0940 \u091a\u093e\u0939\u093f\u090f?", "\u0907\u0938\u092a\u0930 \u0917\u0939\u0930\u093e\u0908 \u0938\u0947 \u0928\u091c\u0930 \u0921\u093e\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e \u090f\u0915 \u0915\u093e\u0932\u094d\u092a\u0928\u093f\u0915 \u0936\u0947\u092f\u0930 \u0915\u0940 \u092c\u093e\u0924 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f, \u0939\u0930 \u092c\u093f\u0902\u0926\u0941 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u0926\u093f\u0916\u0932\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u0939\u092e \u0939\u0930 \u0938\u0947\u0915\u0902\u0921 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u0935\u093e\u0932\u0947 \u0939\u0930 \u0938\u094c\u0926\u0947 \u0915\u094b \u0907\u0938 \u0917\u094d\u0930\u093e\u092b \u092a\u0930 \u0926\u093f\u0916\u093e\u090f\u0902\u0917\u0947 \u0924\u094b \u0907\u0938 \u0917\u094d\u0930\u093e\u092b \u092e\u0947\u0902 \u0915\u0941\u091b \u092d\u0940 \u0928\u0939\u0940\u0902 \u0926\u093f\u0916\u0947\u0917\u093e\u0964 \u0907\u0938\u0932\u093f\u090f \u092f\u0939\u093e\u0902 \u0915\u0947\u0935\u0932 \u0915\u0941\u091b \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092c\u093f\u0902\u0926\u0941 \u0939\u0940 \u0926\u093f\u0916\u093e\u090f \u091c\u093e \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "Daily Trade Pattern: \u0926\u0948\u0928\u093f\u0915 \u091f\u094d\u0930\u0947\u0921 \u092a\u0948\u091f\u0930\u094d\u0928", "", "\u092c\u093e\u091c\u093e\u0930 \u0938\u0941\u092c\u0939 9 :15 \u092c\u091c\u0947 \u0916\u0941\u0932\u093e \u0914\u0930 \u0936\u093e\u092e \u0915\u0947 3:30 \u092c\u091c\u0947 \u092c\u0902\u0926 \u0939\u0941\u0906\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0930\u0942\u0916 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f, \u0907\u0938 \u0926\u094c\u0930\u093e\u0928 \u091c\u093f\u0924\u0928\u0947 \u092d\u0940 \u091f\u094d\u0930\u0947\u0921 \u0939\u0941\u090f \u0909\u0928 \u0938\u092c \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u092c\u091c\u093e\u092f \u0909\u0928\u0915\u093e \u090f\u0915 \u0938\u0902\u0915\u094d\u0937\u093f\u092a\u094d\u0924 \u0935\u093f\u0935\u0930\u0923 \u0926\u0947\u0916 \u0932\u0947\u0928\u093e \u0939\u0940 \u0915\u093e\u092b\u0940 \u0939\u094b\u0917\u093e\u0964", "\u0905\u0917\u0930 \u0939\u092e \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0913\u092a\u0928 \u092f\u093e\u0928\u0940 \u0916\u0941\u0932\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924, \u0939\u093e\u0908 \u092f\u093e\u0928\u0940 \u0938\u092c\u0938\u0947 \u090a\u0902\u091a\u0940 \u0915\u0940\u092e\u0924, \u00a0\u0932\u094b \u092f\u093e\u0928\u0940 \u0938\u092c\u0938\u0947 \u0928\u0940\u091a\u0940 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0915\u094d\u0932\u094b\u091c \u092f\u093e\u0928\u0940 \u0905\u0902\u0924\u093f\u092e \u0915\u0940\u092e\u0924 \u0915\u094b \u0926\u0947\u0916\u0947\u0902 \u0924\u094b \u0939\u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u090f\u0915 \u092e\u094b\u091f\u093e-\u092e\u094b\u091f\u0940 \u0938\u093e\u0930 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u093e\u0964", "\u0913\u092a\u0928 \u0915\u0940\u092e\u0924 \u092f\u093e\u0928\u0940 \u0916\u0941\u0932\u0928\u0947 \u0915\u0947 \u0938\u092e\u092f \u0915\u0940 \u0915\u0940\u092e\u0924: \u091c\u092c \u092c\u093e\u091c\u093e\u0930 \u0916\u0941\u0932\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938 \u0938\u092e\u092f \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u092a\u0939\u0932\u0947 \u091f\u094d\u0930\u0947\u0921 \u092f\u093e \u0938\u094c\u0926\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0913\u092a\u0928 \u0915\u0940\u092e\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0939\u093e\u0908 \u092f\u093e\u0928\u0940 \u0938\u092c\u0938\u0947 \u090a\u0901\u091a\u0940 \u0915\u0940\u092e\u0924: \u0909\u0938 \u0926\u093f\u0928 \u091c\u093f\u0938 \u0915\u0940 \u0938\u092c\u0938\u0947 \u090a\u0901\u091a\u0940 \u0915\u0940\u092e\u0924 \u091c\u093f\u0938 \u092a\u0930 \u0915\u094b\u0908 \u0938\u094c\u0926\u093e \u0939\u0941\u0906\u0964", "\u0938\u092c\u0938\u0947 \u0928\u0940\u091a\u0940 \u0915\u0940\u092e\u0924 \u092f\u093e\u0928\u0940 \u0932\u094b : \u0926\u093f\u0928 \u0915\u0940 \u0935\u094b \u0938\u092c\u0938\u0947 \u0928\u0940\u091a\u0940 \u0915\u0940\u092e\u0924 \u091c\u093f\u0938 \u092a\u0930 \u0938\u094c\u0926\u093e \u0939\u0941\u0906\u0964", "\u092c\u0902\u0926 \u0915\u0947 \u0938\u092e\u092f \u0915\u0940\u092e\u0924 \u092f\u093e\u0928\u0940 \u0915\u094d\u0932\u094b\u091c: \u0926\u093f\u0928 \u0915\u0947 \u0906\u0916\u093f\u0930\u0940 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u091c\u094b \u0915\u0940\u092e\u0924 \u0930\u0939\u0940\u0964 \u092f\u0947 \u0915\u0940\u092e\u0924 \u0915\u093e\u092b\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092e\u093e\u0928\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u0938\u0947 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948 \u0915\u093f \u0926\u093f\u0928 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0915\u093f\u0924\u0928\u093e \u092e\u091c\u092c\u0942\u0924 \u0930\u0939\u093e\u0964 \u0905\u0917\u0930 \u092c\u0902\u0926 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u0939\u0948 \u0916\u0941\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0924\u094b \u0924\u0947\u091c\u0940 \u0915\u093e \u0926\u093f\u0928 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u0905\u0917\u0930 \u092c\u0902\u0926 \u0915\u0947 \u0938\u092e\u092f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u0917\u0930 \u0916\u0941\u0932\u0928\u0947 \u0915\u0947 \u0938\u092e\u092f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0928\u0940\u091a\u0947 \u0930\u0939\u0947 \u0924\u094b \u0909\u0938\u0947 \u092e\u0902\u0926\u0940 \u0915\u093e \u0926\u093f\u0928 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0915\u094d\u0932\u094b\u091c \u092f\u093e \u092c\u0902\u0926 \u0915\u0940\u092e\u0924 \u0915\u094b \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0932\u093f\u090f \u0938\u0902\u0915\u0947\u0924 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092d\u0940 \u0926\u0947\u0916\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u092e\u0942\u0921 \u0906\u0902\u0915\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f OHLC \u092e\u0947\u0902 C \u092f\u093e\u0928\u0940 \u0915\u094d\u0932\u094b\u091c (Close) \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u0907\u0928 \u091a\u093e\u0930\u094b\u0902 \u0915\u0940\u092e\u0924\u094b\u0902 \u0915\u094b \u0926\u0947\u0916\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0928\u0915\u094b \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0921\u093e\u0932 \u0915\u0930 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "", "", "", "Sir bahot bahot dhanyawad\nSir baki ke sare module hindi me uplabadh karaiye", "Working on it, Laxman.", "Sir kya varsity se ta sikh. Intraday trading ker skte hai", "Answer me sir please", "Hi Vikas, \u0939\u092e\u0928\u0947 \u0905\u092a\u0928\u0947 \u0935\u0930\u094d\u0938\u093f\u091f\u0940 \u091a\u0948\u092a\u094d\u091f\u0930 \u092e\u0947\u0902 \u0939\u0930 \u0938\u0902\u092d\u0935 \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u0915\u0935\u0930 \u0915\u0930\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u0939\u0948, \u092f\u0939 \u0905\u0927\u093f\u0915 \u0909\u092a\u092f\u094b\u0917\u0940 \u0939\u094b\u0917\u093e \u092f\u0926\u093f \u0906\u092a \u0935\u0930\u094d\u0938\u093f\u091f\u0940 \u0915\u0947 \u0938\u092d\u0940 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0915\u094b \u092a\u0922\u093c\u0947\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0905\u092a\u094d\u0930\u0924\u094d\u092f\u093e\u0936\u093f\u0924 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948, \u0907\u0938\u0932\u093f\u090f \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0917\u093e \u0915\u093f \u0906\u092a \u090f\u0915 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0905\u092a\u0928\u093e \u0909\u091a\u093f\u0924 \u092a\u0930\u093f\u0936\u094d\u0930\u092e \u0915\u0930\u0947\u0902\u0964", "Thanks \u2026.very useful sir", "Happy learning \ud83d\ude42", "Sir , Kripya pdf me sare module uplabdh karwayen..", "\u0939\u092e \u0909\u0938 \u092a\u0930 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0935\u0939 \u092d\u0940 \u091c\u0932\u094d\u0926 \u0939\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u094b\u0917\u093e\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch2-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch1-Chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch1-Chart2.jpg", "https://secure.gravatar.com/avatar/f2598e56174de661b27edf18ee33496a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0c51474ab28f1ead421ac4b89252326a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0c51474ab28f1ead421ac4b89252326a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5ed0417464fdb19c3dbc34ea67841537?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d5d2755e4d447e845e5b3df9a3f660a1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "4. \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0936\u0941\u0930\u0941\u0935\u093e\u0924", "text": ["\u091c\u0948\u0938\u0947 \u0915\u093f \u0939\u092e \u092a\u0939\u0932\u0947 \u092d\u0940 \u092c\u093e\u0924 \u0915\u0930 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902 \u0915\u093f \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u091c\u0930\u0942\u0930\u0940 \u0905\u0935\u0927\u093e\u0930\u0923\u093e (Assumption) \u092f\u0939 \u0939\u0948 \u0915\u093f \u0907\u0924\u093f\u0939\u093e\u0938 \u0905\u092a\u0928\u0947 \u0906\u092a \u0915\u094b \u0926\u094b\u0939\u0930\u093e\u0924\u093e \u0939\u0948\u0964 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0907\u0938 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0915\u094b \u092c\u093e\u0930-\u092c\u093e\u0930 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0939\u0948\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0940 \u0907\u0938 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0915\u094b \u0914\u0930 \u0917\u0939\u0930\u093e\u0908 \u0938\u0947 \u0938\u092e\u091d\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0947 \u092a\u0948\u091f\u0930\u094d\u0928 \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0907\u0938 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0906\u0927\u093e\u0930 \u092c\u0928\u093e\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0906\u091c 7 \u091c\u0941\u0932\u093e\u0908 2014 \u0939\u0948 \u0914\u0930 \u0915\u0941\u091b \u091a\u0940\u091c\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0939\u094b \u0930\u0939\u0940 \u0939\u0948\u0964", "\u0907\u0928 \u0918\u091f\u0928\u093e\u0913\u0902 \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0905\u092c \u0906\u092a \u092e\u093e\u0928\u093f\u090f \u0915\u093f \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u092f\u093e\u0928\u0940 8 \u091c\u0941\u0932\u093e\u0908 2014 \u0915\u094b \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0917\u093f\u0930\u093e\u0935\u091f \u0925\u092e \u091c\u093e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0936\u0947\u092f\u0930 \u0925\u094b\u0921\u093c\u0940 \u0938\u0940 \u0924\u0947\u091c\u0940 \u0915\u0947 \u0938\u093e\u0925 \u092d\u0940 \u092c\u0902\u0926 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0924\u094b \u092a\u093f\u091b\u0932\u0940 \u0924\u0940\u0928 \u0918\u091f\u0928\u093e\u0913\u0902 \u0915\u0947 \u092a\u0930\u093f\u0923\u093e\u092e \u092e\u0947\u0902 \u091b\u0920\u0935\u0947\u0902 \u0926\u093f\u0928 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u0917\u092f\u093e\u0964", "\u0915\u0941\u091b \u0938\u092e\u092f \u092c\u0940\u0924 \u091c\u093e\u0924\u093e \u0939\u0948 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u0941\u091b \u092e\u0939\u0940\u0928\u0947, \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 5 \u0926\u093f\u0928\u094b\u0902 \u0924\u0915 \u092b\u093f\u0930 \u0938\u0947 \u0910\u0938\u0940 \u0918\u091f\u0928\u093e\u090f\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u091c\u0948\u0938\u0940 \u0939\u092e\u0928\u0947 \u090a\u092a\u0930 \u0926\u0947\u0916\u0940 \u0925\u0940\u0964 \u0905\u092c \u0906\u092a \u091b\u0920\u0935\u0947\u0902 \u0926\u093f\u0928 \u0915\u0947 \u0932\u093f\u090f \u0915\u094d\u092f\u093e \u0909\u092e\u094d\u092e\u0940\u0926 \u0932\u0917\u093e\u090f\u0902\u0917\u0947?", "\u0939\u092e\u093e\u0930\u0940 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0939\u0948 \u0915\u093f \u0907\u0924\u093f\u0939\u093e\u0938 \u0905\u092a\u0928\u0947 \u0906\u092a \u0915\u094b \u0926\u094b\u0939\u0930\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u0939\u092e \u0905\u092a\u0928\u0947 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u092e\u0947\u0902 \u090f\u0915 \u0914\u0930 \u091a\u0940\u091c \u091c\u094b\u0921\u093c \u0926\u0947\u0924\u0947 \u0939\u0948\u0902,\u00a0 \u0935\u094b \u092f\u0947 \u0915\u093f \u091c\u092c \u092a\u093f\u091b\u0932\u0947 \u0915\u0941\u091b \u0926\u093f\u0928\u094b\u0902 \u0915\u0940 \u0918\u091f\u0928\u093e\u090f\u0902 \u0907\u0924\u093f\u0939\u093e\u0938 \u0915\u0940 \u0915\u093f\u0938\u0940 \u0914\u0930 \u0938\u092e\u092f \u0915\u0940 \u0924\u0930\u0939 \u0938\u0947 \u091a\u0932 \u0930\u0939\u0940 \u0939\u0948 \u0924\u094b \u0939\u092e \u092f\u0939 \u092e\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0909\u0928 \u0918\u091f\u0928\u093e\u0913\u0902 \u0915\u0947 \u092c\u093e\u0926 \u091c\u094b \u092a\u0930\u093f\u0923\u093e\u092e \u0926\u093f\u0916\u093e \u0925\u093e \u0935\u0939\u0940 \u092a\u0930\u093f\u0923\u093e\u092e \u092b\u093f\u0930 \u0938\u0947 \u0926\u093f\u0916\u0947\u0917\u093e\u0964 \u0907\u0938\u0940 \u0905\u0928\u0941\u092e\u093e\u0928 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0939\u092e \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u092c \u091b\u0920\u0935\u0947\u0902 \u0926\u093f\u0928 \u0936\u0947\u092f\u0930 \u090a\u092a\u0930 \u091c\u093e\u090f\u0902\u0917\u0947\u0964", "\u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092a\u0948\u091f\u0930\u094d\u0928, \u092f\u093e\u0928\u0940 \u090f\u0915 \u0916\u093e\u0938 \u0924\u0930\u0939 \u0915\u0940 \u0918\u091f\u0928\u093e \u091c\u092c \u090f\u0915 \u0916\u093e\u0938 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0924\u0940 \u0939\u0948 \u0924\u094b \u0909\u0938\u0947 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0939\u0940 \u0905\u092a\u0928\u093e \u091f\u094d\u0930\u0947\u0921 \u092f\u093e\u0928\u0940 \u0938\u094c\u0926\u093e \u0924\u092f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u093f\u0938\u0940 \u092d\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0926\u094b \u092f\u093e \u0926\u094b \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0915\u0948\u0902\u0921\u0932 \u090f\u0915 \u0916\u093e\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0932\u0917\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0915\u092d\u0940-\u0915\u092d\u0940 \u090f\u0915 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0938\u0947 \u092d\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u0938\u092e\u091d\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0938\u093f\u0902\u0917\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092f\u093e\u0928\u0940 \u090f\u0915 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0935\u093e\u0932\u0947 \u092a\u0948\u091f\u0930\u094d\u0928 \u0914\u0930 \u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092f\u093e\u0928\u0940 \u0915\u0908 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0935\u093e\u0932\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0935\u093e\u0932\u0947 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0939\u092e \u091c\u094b \u091a\u0940\u091c\u0947\u0902 \u091c\u093e\u0928\u0947\u0902\u0917\u0947 \u0935\u0939 \u0939\u0948\u0902\u0964", "\u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 (Multiple Candlestick) \u092a\u0948\u091f\u0930\u094d\u0928 \u0935\u0939 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u0915\u0908 \u0915\u0948\u0902\u0921\u0932\u0947\u0938\u094d\u091f\u093f\u0915 \u0938\u0947 \u090f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u0924\u093e \u0939\u0948 \u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0939\u092e \u091c\u093f\u0928 \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u091c\u093e\u0928\u0947\u0902\u0917\u0947, \u0935\u094b \u0939\u0948\u0902:", "\u0906\u092a \u0938\u094b\u091a \u0930\u0939\u0947 \u0939\u094b\u0902\u0917\u0947 \u0915\u093f \u0907\u0928 \u0928\u093e\u092e\u094b\u0902 \u0915\u093e \u092e\u0924\u0932\u092c \u0915\u094d\u092f\u093e \u0939\u0948? \u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e\u0928\u0947 \u092a\u0939\u0932\u0947 \u092d\u0940 \u092c\u0924\u093e\u092f\u093e, \u0907\u0928\u092e\u0947\u0902 \u0938\u0947 \u0915\u0908 \u0928\u093e\u092e \u0905\u092d\u0940 \u092d\u0940 \u091c\u093e\u092a\u093e\u0928\u0940 \u092d\u093e\u0937\u093e \u0938\u0947 \u0939\u0940 \u0906\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u091f\u094d\u0930\u0947\u0921 \u0915\u0940 \u0930\u0923\u0928\u0940\u0924\u093f \u092c\u0928\u093e\u0928\u0947 \u0914\u0930 \u090f\u0915 \u0928\u091c\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0939\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0930\u093f\u0938\u094d\u0915 \u0915\u0940 \u0930\u0923\u0928\u0940\u0924\u093f \u092d\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948, \u0938\u093e\u0925 \u0939\u0940, \u090f\u0928\u094d\u091f\u094d\u0930\u0940 \u0914\u0930 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u0902\u0915\u0947\u0924 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0939\u092e \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0928\u093e \u0914\u0930 \u0938\u092e\u091d\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930\u0947\u0902 \u0909\u0938\u0915\u0947 \u092a\u0939\u0932\u0947 \u0915\u0941\u091b \u0914\u0930 \u0905\u0935\u0927\u093e\u0930\u0923\u093e\u0913\u0902/ \u092e\u093e\u0928\u094d\u092f\u0924\u093e\u0913\u0902 \u0915\u094b \u0905\u092a\u0928\u0947 \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u0930\u0916\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964\u00a0 \u092f\u0939 \u0905\u0935\u0927\u093e\u0930\u0923\u093e\u090f\u0902 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0939\u0941\u0908 \u0939\u0948\u0902\u0964 \u0907\u0928 \u0905\u0935\u0927\u093e\u0930\u0923\u093e\u0913\u0902 \u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0905\u092a\u0928\u0947 \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u092c\u0948\u0920\u093e \u0932\u0940\u091c\u093f\u090f \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u0938\u092e\u092f \u092e\u0947\u0902 \u0939\u092e \u0907\u0928 \u092a\u0930 \u092c\u093e\u0930-\u092c\u093e\u0930 \u0932\u094c\u091f\u0947\u0902\u0917\u0947\u0964 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0939 \u0905\u0935\u0927\u093e\u0930\u0923\u093e\u090f\u0902 \u0905\u092d\u0940 \u0906\u092a\u0915\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0938\u092e\u091d \u0928\u093e \u0906\u090f\u0902 \u0932\u0947\u0915\u093f\u0928 \u0906\u0917\u0947 \u091a\u0932\u0924\u0947 \u0939\u0941\u090f \u0939\u092e \u0907\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0914\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964 \u0907\u0938\u0932\u093f\u090f \u0905\u092d\u0940 \u0938\u0947 \u0907\u0928\u0915\u094b \u0938\u0947 \u0925\u094b\u0921\u093c\u093e-\u0925\u094b\u0921\u093c\u093e \u091c\u093e\u0928 \u0932\u0947\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964", "\u0935\u0930\u094d\u0938\u093f\u091f\u0940 \u092e\u0947\u0902 \u0939\u093f\u0902\u0926\u0940 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092a\u094d\u0930\u0926\u093e\u0928 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0927\u0928\u094d\u092f\u0935\u093e\u0926", "\u091c\u0928 \u0939\u093f\u0924 \u092e\u0947\u0902 \u091c\u093e\u0930\u0940 \ud83d\ude42", "\u092c\u093e\u0958\u0940 \u0915\u0947 \u091a\u0948\u092a\u094d\u091f\u0930 \u092d\u0940 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0921\u093e\u0932\u0947\u0964\n\u0938\u093e\u0925 \u0939\u0940 varsity app \u092a\u0930 \u092d\u0940 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u0935\u093e\u090f\u0964", "\u0939\u092e \u092c\u093e\u0915\u0940 \u091a\u0948\u092a\u094d\u091f\u0930 \u092d\u0940 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u091c\u0932\u094d\u0926 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0935\u0930\u094d\u0938\u093f\u091f\u0940 \u090f\u092a \u0915\u094b \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u0935\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u091b \u0938\u092e\u092f \u0932\u0917 \u0938\u0915\u0924\u093e \u0939\u0948 \u092e\u0917\u0930 \u092f\u0939 \u092d\u0940 \u0939\u092e\u093e\u0930\u093e \u090f\u0915 \u091c\u0932\u094d\u0926 \u0939\u0940 \u0936\u0941\u0930\u0942 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u093e \u092a\u094d\u0930\u094b\u091c\u0947\u0915\u094d\u091f \u0939\u0948\u0964", "Baki pej ko vi hindi me dalne ka kirpa kree\ud83d\udc4d", "VARSITY APP \u0915\u094b \u092d\u0940 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u092c\u0928\u093e\u090f", "\u0915\u092e\u091c\u094b\u0930\u0940 (bearish) Wala din stoploss hit ho gaya to", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch4-title.jpg", "https://secure.gravatar.com/avatar/2ff28c4fa9b204f5454ec1acfa4eeb97?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6418ff04c282468ef6c3aae8a183f4d0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be7bf9d1bbec3032fb12635d0a6c1f3f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/84488659593578d333095f702f8edb71?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/8f2b8c04a531fe1ccc4d42d7e7e1eaef?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e5cf39ffe464fca17135e51813a11d08?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "6. \u0938\u093f\u0902\u0917\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928\u094d\u0938 (\u092d\u093e\u0917 2)", "text": ["\u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0930\u094b\u091a\u0915 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0939\u0948\u0964 \u092f\u0939 \u092e\u093e\u0930\u0942\u092c\u094b\u091c\u093c\u0942 \u0915\u0940 \u0924\u0930\u0939 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0918\u0941\u0938\u0928\u0947 \u0914\u0930 \u0935\u0939\u093e\u0902 \u0938\u0947 \u0928\u093f\u0915\u0932\u0928\u0947 \u092f\u093e\u0928\u0940 \u090f\u0902\u091f\u094d\u0930\u0940 (Entry) \u0914\u0930 \u090f\u0917\u094d\u091c\u093f\u091f (Exit) \u0915\u0947 \u0932\u093f\u090f \u0938\u0939\u0940 \u0938\u093f\u0917\u094d\u0928\u0932 \u0924\u094b \u0928\u0939\u0940\u0902 \u0926\u0947\u0924\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u092e\u094c\u091c\u0942\u0926\u093e \u0939\u093e\u0932\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0924\u093e \u0939\u0948, \u0907\u0938 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e\u0928\u093e \u0906\u0938\u093e\u0928 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u093e \u0915\u0948\u0902\u0921\u0932 \u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u0907\u0938\u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u0938\u0947 \u0926\u0947\u0916\u093f\u090f \u0914\u0930 \u092c\u0924\u093e\u0907\u090f \u0915\u093f \u0906\u092a\u0915\u094b \u0907\u0938\u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u0916\u093e\u0938 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948?", "", "\u0906\u092a \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u093f", "\u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0926\u093f\u0928 \u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0910\u0938\u093e \u0915\u094d\u092f\u093e \u0939\u0941\u0906 \u0939\u094b\u0917\u093e \u0915\u093f \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u0948\u0902\u0921\u0932 \u092c\u0928\u093e? \u0926\u093f\u0916\u0928\u0947 \u092e\u0947\u0902 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u092c\u0939\u0941\u0924 \u0939\u0940 \u0938\u0940\u0927\u093e\u2013\u0938\u093e\u0926\u093e \u0938\u093e, \u091b\u094b\u091f\u0940 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0935\u093e\u0932\u093e \u0915\u0948\u0902\u0921\u0932 \u0926\u093f\u0916\u0924\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902, \u0926\u093f\u0928 \u092e\u0947\u0902 \u0939\u0941\u0908 \u0915\u0908 \u0918\u091f\u0928\u093e\u0913\u0902 \u0915\u0947 \u0938\u0902\u0915\u0947\u0924 \u0907\u0938\u092e\u0947\u0902 \u091b\u0941\u092a\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0906\u0907\u090f \u0907\u0928 \u0918\u091f\u0928\u093e\u0913\u0902 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902:", "", "\u0905\u092c \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u0947 \u0938\u093e\u0930\u0947 \u0939\u093f\u0938\u094d\u0938\u094b\u0902 -\u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940, \u00a0\u0905\u092a\u0930 \u0936\u0948\u0921\u094b \u0914\u0930 \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b- \u0924\u0940\u0928\u094b\u0902 \u0915\u094b \u090f\u0915 \u0938\u093e\u0925 \u091c\u094b\u0921\u093c \u0915\u0930 \u0909\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e\u0907\u090f \u0964 \u092c\u0941\u0932\u094d\u0938 \u0928\u0947 \u090f\u0915 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u090a\u092a\u0930 \u0932\u0947 \u091c\u093e\u0928\u0947 \u0915\u0940 \u091c\u094b \u0938\u092b\u0932 \u0928\u0939\u0940\u0902 \u0939\u0941\u0908, \u092c\u0947\u092f\u0930\u094d\u0938 \u0928\u0947 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0928\u0940\u091a\u0947 \u0932\u0947 \u091c\u093e\u0928\u0947 \u0915\u0940, \u091c\u094b \u0915\u093f \u0938\u092b\u0932 \u0928\u0939\u0940\u0902 \u0939\u0941\u0908\u0964 \u0924\u0947\u091c\u0940 \u0915\u0947 \u0916\u093f\u0932\u093e\u0921\u093c\u0940 \u0914\u0930 \u092e\u0902\u0926\u0940 \u0915\u0947 \u0916\u093f\u0932\u093e\u0921\u093c\u0940 \u092f\u093e\u0928\u0940 \u092c\u0941\u0932\u094d\u0938 \u0914\u0930 \u092c\u0947\u092f\u0930\u094d\u0938 \u0926\u094b\u0928\u094b\u0902 \u0928\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0905\u092a\u0928\u0947 \u0915\u092c\u094d\u091c\u0947 \u092e\u0947\u0902 \u0932\u0947\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940, \u0932\u0947\u0915\u093f\u0928 \u0909\u0928\u0915\u0940 \u092f\u0947 \u0915\u094b\u0936\u093f\u0936 \u0938\u092b\u0932 \u0928\u0939\u0940\u0902 \u0939\u0941\u0908\u0964 \u091b\u094b\u091f\u0940 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u092f\u0939\u0940 \u0926\u093f\u0916\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0905\u092d\u0940 \u0905\u0928\u093f\u0936\u094d\u091a\u093f\u0924\u0924\u093e \u0939\u0948 \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u094b\u0908 \u090f\u0915 \u0926\u093f\u0936\u093e \u0924\u092f \u0928\u0939\u0940\u0902 \u0939\u094b \u092a\u093e \u0930\u0939\u0940 \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0906\u092a \u0938\u093f\u0930\u094d\u092b \u0914\u0930 \u0938\u093f\u0930\u094d\u092b \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u094b \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0924\u094b \u092f\u0947 \u0906\u092a\u0915\u094b \u092c\u0939\u0941\u0924 \u0915\u0941\u091b \u0928\u0939\u0940\u0902 \u092c\u0924\u093e\u0924\u093e, \u0938\u093f\u0930\u094d\u092b \u0907\u0924\u0928\u093e \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u0941\u0932\u094d\u0938 \u0914\u0930 \u092c\u0940\u092f\u0930\u094d\u0938 \u0926\u094b\u0928\u094b\u0902 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0905\u092a\u0928\u0947 \u0915\u092c\u094d\u091c\u0947 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u0915\u0930 \u092a\u093e\u090f\u0964 \u0932\u0947\u0915\u093f\u0928 \u091c\u092c \u0906\u092a \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u094b \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0924\u094b \u092f\u0939 \u0906\u092a\u0915\u094b \u092c\u0939\u0941\u0924 \u092e\u091c\u092c\u0942\u0924 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u092c\u0924\u093e\u090f\u0917\u093e \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u0939\u094b \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0906\u092a \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e \u092a\u093e\u090f\u0902\u0917\u0947\u0964", "", "\u091c\u092c \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u092e\u0902\u0926\u0940 \u091a\u0932 \u0930\u0939\u0940 \u0939\u094b \u0924\u092c \u0905\u0917\u0930 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u0948\u0902\u0921\u0932 \u092c\u0928\u0947 \u0924\u094b \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u093e? \u091c\u092c \u092e\u0902\u0926\u0940 \u091a\u0932 \u0930\u0939\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092c\u0947\u092f\u0930\u094d\u0938 \u0915\u093e \u0915\u092c\u094d\u091c\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u092c\u0928\u0928\u0947 \u0915\u0947 \u0938\u092e\u092f \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u0947\u092f\u0930\u094d\u0938 \u092c\u093f\u0915\u0935\u093e\u0932\u0940 \u0915\u0947 \u0928\u090f \u0926\u094c\u0930 \u0915\u0940 \u0924\u0948\u092f\u093e\u0930\u0940 \u0915\u0930 \u0930\u0939\u0947 \u0939\u094b\u0902\u0964 \u091c\u092c\u0915\u093f \u092c\u0941\u0932\u094d\u0938 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930 \u0930\u0939\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0917\u093f\u0930\u093e\u0935\u091f \u0915\u094b \u0925\u093e\u092e \u0938\u0915\u0947 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0935\u0939 \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e \u0930\u0939\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u0932\u0947\u0915\u093f\u0928 \u0909\u0928\u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0938\u092b\u0932 \u0928\u0939\u0940\u0902 \u0939\u094b \u0930\u0939\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0905\u0917\u0930 \u092c\u0941\u0932\u094d\u0938 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0938\u092b\u0932 \u0939\u094b\u0924\u0940 \u0924\u094b \u092f\u0939 \u090f\u0915 \u0928\u0940\u0932\u0947 \u0915\u0948\u0902\u0921\u0932 \u0935\u093e\u0932\u093e \u0926\u093f\u0928 \u0939\u094b\u0924\u093e \u0928\u093e \u0915\u093f \u090f\u0915 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0935\u093e\u0932\u093e\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0941\u090f \u0906\u092a \u0915\u094d\u092f\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0947\u0902\u0917\u0947? \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u0947 \u0939\u0941\u090f \u0906\u092a\u0915\u094b \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0906\u0917\u0947 \u0915\u094d\u092f\u093e \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948\u0964 \u0906\u0917\u0947 \u0926\u094b \u091a\u0940\u091c\u0947\u0902 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0902:", "\u091c\u092c \u0924\u0938\u094d\u0935\u0940\u0930 \u0938\u093e\u092b \u0928\u093e \u0939\u094b \u0924\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u092b \u0915\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u0940 \u0924\u0948\u092f\u093e\u0930\u0940 \u092c\u0928\u093e\u0915\u0930 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u092f\u093e\u0928\u0940 \u0928\u0940\u091a\u0947 \u091c\u093e\u0928\u0947 \u0914\u0930 \u090a\u092a\u0930 \u091c\u093e\u0928\u0947 \u0926\u094b\u0928\u094b\u0902 \u0915\u0940 \u0924\u0948\u092f\u093e\u0930\u0940\u0964", "\u0905\u0917\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0924\u0947\u091c\u0940 \u0915\u0930\u0928\u0947 \u0915\u093e \u092e\u094c\u0915\u093e \u0922\u0942\u0902\u0922 \u0930\u0939\u093e \u0939\u094b \u0924\u094b \u0936\u093e\u092f\u0926 \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u092f\u0947 \u0938\u0939\u0940 \u0905\u0935\u0938\u0930 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0947 \u0925\u094b\u0921\u093c\u093e \u0938\u093e\u0935\u0927\u093e\u0928 \u0930\u0939\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0939\u094b\u0917\u0940\u0964 \u0907\u0938\u0932\u093f\u090f \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0909\u0938\u0947 \u0905\u092a\u0928\u0940 \u0915\u0941\u0932 \u092a\u0942\u0902\u091c\u0940 \u0915\u093e \u0906\u0927\u093e \u0939\u0940 \u0907\u0938 \u0938\u092e\u092f \u0932\u0917\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u092e\u0924\u0932\u092c \u0905\u0917\u0930 \u0909\u0938\u0915\u093e \u0907\u0930\u093e\u0926\u093e 500 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0925\u093e \u0924\u094b \u0909\u0938\u0947 \u0907\u0938 \u0938\u092e\u092f \u0938\u093f\u0930\u094d\u092b 250 \u0936\u0947\u092f\u0930 \u0939\u0940 \u0916\u0930\u0940\u0926\u0928\u0947 \u091a\u093e\u0939\u093f\u090f, \u0914\u0930 \u0907\u0902\u0924\u091c\u093c\u093e\u0930 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u092f\u0939 \u0926\u0947\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0930\u0941\u0916 \u0915\u094d\u092f\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u093f\u0927\u0930 \u091c\u093e\u0924\u093e \u0939\u0948? \u0905\u0917\u0930 \u092c\u093e\u091c\u093e\u0930 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u091c\u093e\u0924\u093e \u0939\u0948 \u0924\u094b \u0935\u0939 \u092c\u093e\u0915\u0940 \u092c\u091a\u0947 \u0939\u0941\u090f 250 \u0936\u0947\u092f\u0930 \u092d\u0940 \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u090f\u0935\u0930\u0947\u091c\u093f\u0902\u0917 (Averaging) \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u092c\u093e\u091c\u093e\u0930 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u091c\u093e\u0928\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0924\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0936\u0947\u092f\u0930 \u0938\u092c\u0938\u0947 \u0928\u0940\u091a\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092e\u093f\u0932 \u091a\u0941\u0915\u0947 \u0939\u094b\u0902\u0917\u0947\u0964", "\u0932\u0947\u0915\u093f\u0928 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0909\u0932\u094d\u091f\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u0914\u0930 \u0917\u093f\u0930\u0928\u0947 \u0932\u0917\u0924\u0940 \u0939\u0948 \u0924\u094b \u092d\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0906\u0927\u093e \u0939\u0940 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0917\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0938\u0928\u0947 \u0906\u0927\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0947 \u0939\u0948\u0902, \u092a\u0942\u0930\u0947 \u0928\u0939\u0940\u0902\u0964", "\u092f\u0939\u093e\u0902 \u0928\u0940\u091a\u0947 \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u0915\u093f \u091c\u092c \u092e\u0902\u0926\u0940 \u0915\u0947 \u0938\u092e\u092f \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u092c\u0928\u0924\u093e \u0939\u0948 \u0924\u094b \u0915\u094d\u092f\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0907\u0938 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0928\u0947 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u0947 \u092c\u093e\u0926 \u0924\u0947\u091c\u0940 \u092a\u0915\u0921\u093c \u0932\u0940 \u0925\u0940\u0964", "", "\u0905\u092c \u090f\u0915 \u0914\u0930 \u091a\u093e\u0930\u094d\u091f \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902, \u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u0947 \u092c\u093e\u0926 \u092e\u0902\u0926\u0940 \u0915\u093e \u0926\u094c\u0930 \u092c\u0928\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964", "", "\u092f\u0939 \u0915\u0939\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u0940 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0924\u0942\u092b\u093e\u0928 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0915\u0940 \u0936\u093e\u0902\u0924\u093f \u0939\u0948\u0964 \u092f\u0939 \u0924\u0942\u092b\u093e\u0928 \u0924\u0947\u091c\u0940 \u092f\u093e \u092e\u0902\u0926\u0940 \u0915\u093f\u0938\u0940 \u0915\u094b \u092d\u0940 \u092c\u0922\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092f\u0947 \u0924\u0942\u092b\u093e\u0928 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u092d\u0940 \u0932\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u093f\u0927\u0930 \u091c\u093e\u090f\u0917\u093e \u092f\u0939 \u0924\u094b \u0928\u0939\u0940\u0902 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0932\u0947\u0915\u093f\u0928 \u092f\u0939 \u091c\u0930\u0942\u0930 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0926\u093f\u0936\u093e \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u0939\u0948 \u0914\u0930 \u0906\u092a \u0915\u094b \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0930\u0939\u0928\u093e \u0939\u0948\u0964", "\u0924\u0947\u091c\u0940 \u0915\u0947 \u0938\u092e\u092f \u0915\u0947 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u093e \u0905\u0938\u0930 \u092d\u0940 \u0935\u0948\u0938\u093e \u0939\u0940 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u0948\u0938\u093e \u092e\u0902\u0926\u0940 \u0915\u0947 \u0938\u092e\u092f \u0915\u093e\u0964 \u092c\u0938 \u0939\u092e \u0907\u0938\u0947 \u0925\u094b\u0921\u093c\u093e \u0905\u0932\u0917 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u093f\u090f \u0914\u0930 \u092c\u0924\u093e\u0907\u090f \u0915\u093f \u0906\u092a \u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917 \u0930\u0939\u093e \u0939\u0948\u0964", "", "\u092f\u0939\u093e\u0901 \u092c\u0939\u0941\u0924 \u0938\u093e\u092b \u0938\u093e\u092b \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0924\u0947\u091c\u0940 \u092e\u0947\u0902 \u0939\u0948, \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u092c\u0941\u0932\u094d\u0938 \u0915\u0947 \u0915\u092c\u094d\u091c\u093c\u0947 \u092e\u0947\u0902 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u092c\u0928\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0938\u0947 \u0925\u094b\u0921\u093c\u0940 \u0905\u0938\u092e\u0902\u091c\u0938 \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0906 \u091a\u0941\u0915\u0940 \u0939\u0948\u0964", "\u0905\u092c \u0906\u092a \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0902\u0917\u0947? \u0907\u0938 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u093e \u092e\u0924\u0932\u092c \u0915\u094d\u092f\u093e \u0939\u0948? \u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0906\u092a\u0915\u094b \u0915\u0948\u0938\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0932\u0947\u0928\u0940 \u091a\u093e\u0939\u093f\u090f?", "\u0905\u092c \u0906\u092a \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0902\u0917\u0947 \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u092b \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e\u090f\u0902 \u092c\u0930\u093e\u092c\u0930 \u0939\u0948\u0902 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0906\u092a\u0915\u093e \u0905\u0917\u0932\u093e \u0915\u0926\u092e \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u093e? \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902, \u0906\u092a\u0915\u094b \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u092b \u0915\u0940 \u0924\u0948\u092f\u093e\u0930\u0940 \u0930\u0916\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0906\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0930\u0948\u0932\u0940 \u0936\u0941\u0930\u0942 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u093e \u0925\u093e, \u092f\u0947 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u092e\u094c\u0915\u093e \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u0941\u091b \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u092c\u0941\u0915 \u0915\u0930 \u0932\u0947\u0964 \u0932\u0947\u0915\u093f\u0928 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u093e \u092a\u0942\u0930\u093e \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u092c\u0941\u0915 \u0928\u0939\u0940\u0902 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 500 \u0936\u0947\u092f\u0930 \u0939\u0948\u0902 \u0906\u092a \u0907\u0938\u092e\u0947\u0902 \u0938\u0947 50% \u092f\u093e\u0928\u0940 250 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u0947 \u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0926\u094b \u091a\u0940\u091c\u0947\u0902 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0902:", "\u0907\u0938 \u0924\u0930\u0939 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0906\u092a\u0915\u094b \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u092b \u0915\u0947 \u092b\u093e\u092f\u0926\u0947 \u0926\u093f\u0932\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0924\u0947\u091c\u0940 \u0915\u0947 \u092c\u093e\u0926 \u090f\u0915 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u092c\u0928\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u092c\u093e\u091c\u093e\u0930 \u0928\u0947 \u0914\u0930 \u092d\u0940 \u0924\u0947\u091c\u0940 \u092a\u0915\u0921\u093c \u0932\u0940 \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0905\u0917\u0930 \u0906\u092a\u0915\u093e 50% \u0936\u0947\u092f\u0930 \u0928\u093f\u0935\u0947\u0936 \u0905\u092d\u0940 \u092d\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0939\u0948 \u0924\u094b \u0906\u092a \u0907\u0938 \u0930\u0948\u0932\u0940 \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0909\u0920\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0915\u0941\u0932 \u092e\u093f\u0932\u093e\u0915\u0930 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u0948\u0902\u0921\u0932 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0905\u0938\u092e\u0902\u091c\u0938 \u0914\u0930 \u0905\u0928\u093f\u0936\u094d\u091a\u093f\u0924\u0924\u093e \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u092b \u092c\u0930\u093e\u092c\u0930 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e\u090f\u0902 \u0939\u0948\u0902 \u092f\u0939 \u092c\u093e\u091c\u093e\u0930 \u090a\u092a\u0930 \u092d\u0940 \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0928\u0940\u091a\u0947 \u092d\u0940\u0964 \u091c\u092c \u0924\u0915 \u092e\u093e\u0939\u094c\u0932 \u0938\u093e\u092b \u0928\u093e \u0939\u094b \u0924\u092c \u0924\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0925\u094b\u0921\u093c\u093e \u0938\u093e \u0938\u093e\u0935\u0927\u093e\u0928 \u0930\u0939\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0914\u0930 \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u092e \u0938\u0947 \u0915\u092e \u0930\u0916\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964", "\u0926\u094b\u091c\u0940 \u092d\u0940 \u090f\u0915 \u0938\u093f\u0902\u0917\u0932 \u0915\u0948\u0902\u0921\u0932 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0964 \u092f\u0947 \u092d\u0940 \u0915\u0930\u0940\u092c-\u0915\u0930\u0940\u092c \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u0940 \u0924\u0930\u0939 \u0939\u0940 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u0932\u0947\u0915\u093f\u0928 \u0907\u0928\u092e\u0947\u0902 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u092c\u093f\u0932\u094d\u0915\u0941\u0932 \u092d\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940\u0964\u00a0 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0928\u093e \u0939\u094b\u0928\u0947 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u092f\u0939\u093e\u0901 \u092a\u0930 \u0913\u092a\u0928 \u0914\u0930 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924\u0947\u0902 \u092c\u0930\u093e\u092c\u0930 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902\u0964 \u0926\u094b\u091c\u0940 \u0939\u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092e\u0942\u0921 \u0914\u0930 \u092e\u093e\u0939\u094c\u0932 \u0915\u0940 \u0938\u0942\u091a\u0928\u093e \u0926\u0947\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938 \u0932\u093f\u0939\u093e\u091c \u0938\u0947 \u092f\u0947 \u090f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0964", "", "", "\u0926\u094b\u091c\u0940 \u0915\u0940 \u092a\u0930\u093f\u092d\u093e\u0937\u093e \u092f\u0939 \u0939\u0948 \u0915\u093f \u0913\u092a\u0928 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u092c\u0930\u093e\u092c\u0930 \u0939\u094b \u0914\u0930 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u092c\u093f\u0932\u094d\u0915\u0941\u0932 \u092d\u0940 \u0928\u093e \u0939\u094b\u0964 \u0905\u092a\u0930 \u0914\u0930 \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b \u0915\u093f\u0924\u0928\u0947 \u092d\u0940 \u092c\u0921\u093c\u0947 \u0939\u094b \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0939\u092e\u0947\u0902 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0947 \u0926\u0942\u0938\u0930\u0947 \u0928\u093f\u092f\u092e \u2013 \u0939\u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u0935\u093f\u091a\u093e\u0930 \u092e\u0947\u0902 \u0925\u094b\u0921\u093c\u093e \u0932\u091a\u0940\u0932\u093e\u092a\u0928 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0914\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u092f\u093e \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u091c\u093e\u0902\u091a \u0932\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u2013 \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0915\u0930, \u0915\u0908 \u092c\u093e\u0930 \u092a\u0924\u0932\u0947 \u0915\u0948\u0902\u0921\u0932 \u0935\u093e\u0932\u0947 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u092d\u0940 \u0926\u094b\u091c\u0940 \u092e\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0939\u092e\u0947\u0936\u093e \u092c\u093f\u0928\u093e \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0935\u093e\u0932\u093e \u0926\u094b\u091c\u0940 \u0924\u0932\u093e\u0936\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u0910\u0938\u0947 \u092e\u0947\u0902, \u0915\u0948\u0902\u0921\u0932 \u0915\u0947 \u0930\u0902\u0917 \u0915\u093e \u0915\u094b\u0908 \u092e\u0939\u0924\u094d\u0935 \u0928\u0939\u0940\u0902 \u0930\u0939 \u091c\u093e\u0924\u093e \u0939\u0948, \u092e\u0939\u0924\u094d\u0935 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u091a\u0940\u091c \u0915\u093e \u0939\u0948, \u0915\u093f \u0913\u092a\u0928 \u0914\u0930 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924\u0947\u0902 \u092c\u0930\u093e\u092c\u0930 \u0939\u094b\u0964", "\u0926\u094b\u091c\u0940 \u0915\u093e \u0905\u0938\u0930 \u092d\u0940 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u0940 \u0924\u0930\u0939 \u0915\u093e \u0939\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u091c\u094b \u0915\u0941\u091b \u0939\u092e\u0928\u0947 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u093e \u0939\u0948, \u0935\u0939 \u0938\u092c \u0926\u094b\u091c\u0940 \u092a\u0930 \u092d\u0940 \u0932\u093e\u0917\u0942 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902, \u0926\u094b\u091c\u0940 \u0914\u0930 \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0905\u0915\u094d\u0938\u0930 \u090f\u0915 \u0938\u093e\u0925, \u090f\u0915 \u0939\u0940 \u0938\u092e\u0942\u0939 \u092e\u0947\u0902, \u090f\u0915 \u091c\u0917\u0939 \u092a\u0930 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0905\u0938\u092e\u0902\u091c\u0938 \u0915\u094b \u092c\u0924\u093e\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f \u090f\u0915 \u092e\u0902\u0926\u0940 \u0915\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0926\u094b\u091c\u0940 \u0915\u0948\u0938\u0947 \u092c\u0928\u0924\u093e \u0939\u0948 \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0905\u0917\u0932\u0940 \u091a\u093e\u0932 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0915\u0947 \u0905\u0938\u092e\u0902\u091c\u0938 \u0915\u094b \u0915\u0948\u0938\u0947 \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964", "", "", "\u0905\u092c \u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u093f\u090f, \u092f\u0939\u093e\u0901 \u0926\u094b\u091c\u0940 \u090f\u0915 \u0905\u091a\u094d\u091b\u0940 \u0924\u0947\u091c\u0940 \u0915\u0947 \u092c\u093e\u0926 \u092c\u0928\u093e \u0914\u0930 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0926\u093f\u0936\u093e \u092c\u0926\u0932 \u0917\u092f\u0940 \u0914\u0930 \u0917\u093f\u0930\u093e\u0935\u091f \u0906 \u0917\u092f\u0940\u0964", "", "\u0924\u094b \u0905\u092c \u0906\u092a \u0905\u0917\u0930 \u090f\u0915 \u0926\u094b\u091c\u0940 \u092f\u093e \u0938\u094d\u092a\u093f\u0928\u093f\u0902\u0917 \u091f\u0949\u092a \u0915\u094b \u0905\u0932\u0917 \u0905\u0932\u0917 \u092f\u093e \u090f\u0915 \u0938\u093e\u0925 \u0926\u0947\u0916\u0947\u0902 \u0924\u094b \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0926\u093f\u0936\u093e\u0939\u0940\u0928 \u0939\u0948 \u092f\u093e\u0928\u0940 \u0905\u0938\u092e\u0902\u091c\u0938 \u092e\u0947\u0902 \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902, \u092c\u093e\u091c\u093e\u0930 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0924\u0930\u092b \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u093e \u091f\u094d\u0930\u0947\u0921 \u0910\u0938\u093e \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u092b \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u092e\u093f\u0932 \u0938\u0915\u0947\u0964", "", "awesome sir", "awesome sir please upload pdf file in hindi sir", "Good article for bigginer", "Thank You \ud83d\ude42", "Thank you very much for good article and trading platform\nZerodha team", "Happy Learning Sachin. \ud83d\ude42", "Hello sir,", "Thanks a lot for provide information. but i have question that, it there any price calculation to confirm perfect spinning top?", "No price calculation as such, it is easier as a visual concept.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch6-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch6-D1a.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch6-Chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch6-Chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch6-Chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch6-Chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/doji.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch6-D2a.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch6-Chart5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch6-Chart6.jpg", "https://secure.gravatar.com/avatar/eddd7f1d786bc214a8922441a41306e7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/eddd7f1d786bc214a8922441a41306e7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2aea44b8c6eb0f1c2f1332d2b24f8860?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/fb4ec06494d6d80ebe140a69923e2d06?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/91d8c38fb9810fda9fbb27b17e2da325?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "7. \u0938\u093f\u0902\u0917\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928\u094d\u0938 ( \u092d\u093e\u0917 3)", "text": ["\u092a\u0947\u092a\u0930 \u0905\u0902\u092c\u094d\u0930\u0947\u0932\u093e \u090f\u0915 \u0910\u0938\u093e \u0938\u093f\u0902\u0917\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u091c\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0940 \u0926\u093f\u0936\u093e \u0924\u092f \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u092a\u0947\u092a\u0930 \u0905\u092e\u094d\u092c\u094d\u0930\u0947\u0932\u093e \u0915\u093e \u0905\u0938\u0930 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092f\u0947 \u0926\u0947\u0916\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u094b \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0915\u0939\u093e\u0901 \u092a\u0930 \u092c\u0928 \u0930\u0939\u093e \u0939\u0948\u0964", "", "\u090f\u0915 \u092a\u0947\u092a\u0930 \u0905\u092e\u094d\u092c\u094d\u0930\u0947\u0932\u093e \u092e\u0947\u0902 2 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u091f\u094d\u0930\u0947\u0928\u094d\u0921 \u0930\u093f\u0935\u0930\u094d\u0938\u0932 \u092a\u0948\u091f\u0930\u094d\u0928 (Trend Reversal Pattern) \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 (Hanging Man) \u0914\u0930 \u0939\u0948\u092e\u0930 (Hammer)\u0964 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0902\u0926\u0940 \u0915\u093e \u092f\u093e\u0928\u0940 \u092c\u0947\u092f\u0930\u093f\u0936 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c\u0915\u093f \u0939\u0948\u092e\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0941\u0932\u093f\u0936 \u092f\u093e\u0928\u0940 \u0924\u0947\u091c\u0940 \u0915\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092a\u0947\u092a\u0930 \u0905\u0902\u092c\u094d\u0930\u0947\u0932\u093e \u092e\u0947\u0902 \u090f\u0915 \u0932\u0902\u092c\u093e \u0936\u0948\u0921\u094b \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u091b\u094b\u091f\u0940 \u0905\u092a\u0930 \u092c\u0949\u0921\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0905\u0917\u0930 \u092a\u0947\u092a\u0930 \u0905\u092e\u094d\u092c\u094d\u0930\u0947\u0932\u093e \u090f\u0915 \u092e\u0902\u0926\u0940 \u0915\u0940 \u0930\u0948\u0932\u0940 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u093f\u0930\u0947 \u092a\u0930 \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0947 \u0939\u0948\u092e\u0930 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u0917\u0930 \u092a\u0947\u092a\u0930 \u0905\u0902\u092c\u094d\u0930\u0947\u0932\u093e \u0924\u0947\u091c\u0940 \u0915\u0940 \u0930\u0948\u0932\u0940 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0909\u092a\u0930\u0940 \u0938\u093f\u0930\u0947 \u0915\u0940 \u0924\u0930\u092b \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0947 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092a\u0947\u092a\u0930 \u0905\u092e\u094d\u092c\u094d\u0930\u0947\u0932\u093e \u0915\u0940 \u0916\u093e\u0938\u093f\u092f\u0924 \u092f\u0939 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u093f \u0909\u0938\u0915\u093e \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b \u0915\u092e \u0938\u0947 \u0915\u092e \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0915\u093e 2 \u0917\u0941\u0928\u093e \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0907\u0938\u0947 \u0936\u0948\u0921\u094b \u091f\u0942 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0930\u0947\u0936\u094d\u092f\u094b (Shadow to Real Body Ratio) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u0913\u092a\u0928 = 100, \u0939\u093e\u0908 = 103, \u0932\u094b = 94, \u0915\u094d\u0932\u094b\u091c = 102 (\u092c\u0941\u0932\u093f\u0936 \u0915\u0948\u0902\u0921\u0932)", "\u092f\u0939\u093e\u0901 \u092a\u0930 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0915\u0940 \u0932\u0902\u092c\u093e\u0908 \u0939\u094b\u0917\u0940: \u0915\u094d\u0932\u094b\u091c \u2013\u0913\u092a\u0928 \u092f\u093e\u0928\u0940 102-100 =2 \u0914\u0930 \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b \u0915\u0940 \u0932\u0902\u092c\u093e\u0908 \u0913\u092a\u0928 \u2013 \u0932\u094b \u092f\u093e\u0928\u0940 100 \u201394=6 \u0939\u094b\u0917\u0940\u0964 \u092f\u0947 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u092f\u0939\u093e\u0901 \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b \u0915\u0940 \u0932\u0902\u092c\u093e\u0908 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0915\u0947 \u0926\u094b\u0917\u0941\u0928\u0947 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948, \u0907\u0938\u0932\u093f\u090f \u0939\u092e \u092e\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092f\u0939\u093e\u0901 \u092a\u0947\u092a\u0930 \u0905\u092e\u094d\u092c\u094d\u0930\u0947\u0932\u093e \u092c\u0928 \u091a\u0941\u0915\u093e \u0939\u0948\u0964", "\u092c\u0941\u0932\u093f\u0936 \u0939\u0948\u092e\u0930 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0915\u0948\u0902\u0921\u0932 \u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u091c\u094b \u0915\u093f \u0915\u093f\u0938\u0940 \u091f\u094d\u0930\u0947\u0928\u094d\u0921 \u0915\u0947 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u092c\u0928\u0924\u093e \u0939\u0948\u0964 \u0939\u0948\u092e\u0930 \u092e\u0947\u0902 \u0909\u0938 \u0926\u093f\u0928 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0930\u0947\u0902\u091c \u0915\u0947 \u090a\u092a\u0930\u0940 \u0913\u0930 \u090f\u0915 \u091b\u094b\u091f\u0940 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u090f\u0915 \u0932\u0902\u092c\u093e \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u091c\u093f\u0924\u0928\u093e \u0932\u0902\u092c\u093e \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b \u0939\u094b\u0917\u093e \u0909\u0924\u0928\u093e \u0939\u0940 \u092c\u0941\u0932\u093f\u0936 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u0947\u0917\u093e\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0926\u094b \u0939\u0948\u092e\u0930 \u0926\u093f\u0916\u093e\u090f \u0917\u092f\u0947 \u0939\u0948\u0902 \u091c\u094b \u092e\u0902\u0926\u0940 \u0935\u093e\u0932\u0947 \u0926\u093f\u0928 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u092c\u0928\u0947 \u0939\u0948\u0902\u0964", "", "\u0927\u094d\u092f\u093e\u0928 \u0926\u0940\u091c\u093f\u090f \u0915\u093f \u0928\u0940\u0932\u0947 \u0939\u0948\u092e\u0930 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0939\u0940 \u091b\u094b\u091f\u093e \u0905\u092a\u0930 \u0936\u0948\u0921\u094b \u0939\u0948, \u091c\u094b \u0915\u093f \u092e\u093e\u0928\u094d\u092f \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u093e \u0926\u0942\u0938\u0930\u093e \u0928\u093f\u092f\u092e \u0939\u092e\u0947\u0902 \u201c\u0915\u0941\u091b \u0932\u091a\u0940\u0932\u093e\u092a\u0928 \u0930\u0916\u0928\u0947 \u0914\u0930 \u091c\u093e\u0901\u091a\u0928\u0947 \u201c \u0915\u094b \u0915\u0939\u0924\u093e \u0939\u0948\u0964", "\u0939\u0948\u092e\u0930 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0930\u0902\u0917 \u0915\u093e \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u0915\u094b\u0908 \u0905\u0902\u0924\u0930 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e \u0915\u093f \u0909\u0938\u0915\u093e \u0930\u0902\u0917 \u0915\u094d\u092f\u093e \u0939\u0948 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092c\u093e\u0924 \u092f\u0947 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u093f \u201c\u0936\u0948\u0921\u094b \u091f\u0942 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0930\u0947\u0936\u094d\u092f\u094b\u201d \u0915\u0947 \u092a\u0948\u092e\u093e\u0928\u0947 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0924\u093e \u0939\u0948 \u092f\u093e \u0928\u0939\u0940\u0902\u0964 \u0935\u0948\u0938\u0947 \u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u0915\u093e \u0939\u0948\u092e\u0930 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0915\u0941\u091b \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0940 \u092d\u0930\u094b\u0938\u093e \u0926\u093f\u0932\u093e\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915 \u0939\u0948\u092e\u0930 \u0915\u0947 \u0932\u093f\u090f \u0909\u0938\u0915\u0947 \u092a\u0939\u0932\u0947 \u0915\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u092f\u0939\u093e\u0902 \u092a\u0939\u0932\u0947 \u0915\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0928\u0940\u091a\u0947 \u090f\u0915 \u092e\u0941\u0921\u093c\u0924\u0940 \u0939\u0941\u0908 \u0932\u093e\u0907\u0928 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0939\u0948\u092e\u0930 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u0940 \u0938\u094b\u091a \u0910\u0938\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948:", "\u0939\u0948\u092e\u0930 \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0938\u094c\u0926\u0947 \u0915\u0941\u091b \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0939\u094b\u0928\u0947 \u091a\u093e\u0939\u093f\u090f:", "\u0928\u0940\u091a\u0947 \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u090f\u0915 \u0910\u0938\u093e \u0939\u0948\u092e\u0930 \u0926\u093f\u0916\u093e \u0930\u0939\u093e \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u093e \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0917\u093e\u0964 \u092f\u0947 Cipla Ltd \u0915\u093e 15 \u092e\u093f\u0928\u091f \u0915\u093e \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u091a\u093e\u0930\u094d\u091f \u0939\u0948\u0964", "", "\u0907\u0938\u092e\u0947\u0902 \u0938\u094c\u0926\u0947 \u0910\u0938\u0947 \u092c\u0928\u0947\u0902\u0917\u0947:", "\u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0938\u0939\u0940 \u0915\u0940\u092e\u0924 \u2013 \u0935\u094b \u0939\u0948\u092e\u0930 \u0915\u0948\u0902\u0921\u0932 \u092a\u0930 \u0939\u0940 \u0916\u0930\u0940\u0926\u0947\u0917\u093e \u092f\u093e\u0928\u0940 444 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930\u0964", "\u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0938\u0939\u0940 \u0915\u0940\u092e\u0924 \u2013\u00a0 \u00a0\u0935\u0939 \u0905\u0917\u0932\u0947 \u0915\u0948\u0902\u0921\u0932 \u092a\u0930 \u0938\u094c\u0926\u093e \u0915\u0930\u0947\u0917\u093e, \u092f\u0939 \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0915\u093f \u0905\u0917\u0932\u093e \u0915\u0948\u0902\u0921\u0932 \u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u0915\u093e \u0939\u0948\u0964", "\u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0939\u094b\u0917\u093e \u20b9441.50, \u092f\u093e\u0928\u0940 \u0939\u0948\u092e\u0930 \u0915\u093e \u0932\u094b\u0964", "\u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0938\u094c\u0926\u0947 \u0915\u0948\u0938\u0947 \u092a\u0942\u0930\u0947 \u0939\u0941\u090f \u0914\u0930 \u0915\u0948\u0938\u0947 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u092e\u0947\u0902 \u0909\u0928\u0938\u0947 \u092b\u093e\u092f\u0926\u093e \u0939\u0941\u0906\u0964", "\u0905\u092c \u090f\u0915 \u0914\u0930 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902, \u092f\u0939\u093e\u0901 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u091f\u094d\u0930\u0947\u0921\u0930 \u201c\u092e\u091c\u092c\u0942\u0924\u0940 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u094b \u0914\u0930 \u0915\u092e\u091c\u094b\u0930\u0940 \u092e\u0947\u0902 \u092c\u0947\u091a\u094b\u201d\u0915\u0947 \u0928\u093f\u092f\u092e \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u092a\u093e\u0924\u093e \u0939\u0948", "", "\u0914\u0930 \u0905\u092c \u0926\u094b \u0939\u0948\u092e\u0930 \u0935\u093e\u0932\u093e \u090f\u0915 \u0930\u094b\u091a\u0915 \u091a\u093e\u0930\u094d\u091f\u0964", "", "\u092f\u0939\u093e\u0902 \u0926\u094b\u0928\u094b\u0902 \u0939\u0948\u092e\u0930 \u092e\u0947\u0902 \u0909\u0928 \u0936\u0930\u094d\u0924\u094b\u0902 \u0915\u093e \u092a\u093e\u0932\u0928 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u091c\u094b \u0939\u0948\u092e\u0930 \u092c\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0902\u0964", "\u092a\u0939\u0932\u0947 \u0939\u0948\u092e\u0930 \u092e\u0947\u0902, \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092a\u0928\u0947 \u0915\u094b \u0918\u093e\u091f\u0947 \u0938\u0947 \u092c\u091a\u093e \u0932\u0947\u0917\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u094b \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0947 \u0928\u093f\u092f\u092e \u0928\u0902\u092c\u0930 1 \u0915\u093e \u092a\u093e\u0932\u0928 \u0915\u0930 \u0930\u0939\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0926\u0942\u0938\u0930\u0947 \u0939\u0948\u092e\u0930 \u0915\u0947 \u0938\u092e\u092f \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u093e \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e, \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 \u0932\u093e\u0932\u091a \u092e\u0947\u0902 \u0906 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0905\u092a\u0928\u093e \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939\u093e\u0901 \u0909\u0928\u0915\u093e \u091f\u094d\u0930\u0947\u0921 \u0936\u0941\u0930\u0942 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0938\u094d\u091f\u0949\u0915 \u090a\u092a\u0930 \u0928\u0939\u0940\u0902 \u0917\u092f\u093e, \u092b\u094d\u0932\u0948\u091f \u092c\u0928\u093e \u0930\u0939\u093e \u0914\u0930 \u092c\u093e\u0926 \u092e\u0947\u0902 \u091f\u0942\u091f \u0917\u092f\u093e \u092f\u093e\u0928\u0940 \u0928\u0940\u091a\u0947 \u0917\u093f\u0930 \u0917\u092f\u093e\u0964", "\u0939\u092e \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0906\u092a \u090f\u0915 \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u0924\u092c \u0924\u0915 \u092c\u0928\u0947 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u0924\u0915 \u0915\u093f \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u092f\u093e \u0906\u092a \u0915\u093e \u091f\u093e\u0930\u0917\u0947\u091f \u092a\u0942\u0930\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902, \u0906\u092a \u0905\u092a\u0928\u0947 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0915\u094b\u0908 \u092c\u0926\u0932\u093e\u0935 \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u0947, \u0907\u0938\u0940\u0932\u093f\u090f \u0907\u0938 \u0938\u094c\u0926\u0947 (\u092a\u0939\u0932\u0947 \u0939\u0948\u092e\u0930 \u092e\u0947\u0902) \u092e\u0947\u0902 \u0918\u093e\u091f\u093e \u0939\u094b\u0928\u093e \u0939\u0940 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u092f\u0939 \u090f\u0915 \u091c\u093e\u0928 \u092c\u0942\u091d \u0915\u0930 \u0932\u093f\u092f\u093e \u0917\u092f\u093e \u0930\u093f\u0938\u094d\u0915 \u0939\u0948\u0964", "\u0905\u092c \u090f\u0915 \u0914\u0930 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f \u091c\u0939\u093e\u0901 \u090f\u0915 \u0939\u0948\u092e\u0930 \u092c\u0928\u0924\u093e \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u092f\u0947 \u0939\u0948\u092e\u0930 \u0915\u0947 \u092a\u0939\u0932\u0947 \u092e\u0902\u0926\u0940 \u0915\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u0935\u093e\u0932\u0940 \u0936\u0930\u094d\u0924 \u0915\u094b \u092a\u0942\u0930\u093e \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u093e\u0964 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0947 \u0939\u0948\u092e\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u0928\u0939\u0940\u0902 \u092a\u0930\u093f\u092d\u093e\u0937\u093f\u0924 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e\u0964", "", "\u0905\u0917\u0930 \u0915\u093f\u0938\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u090f\u0915\u0926\u092e \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u092a\u0947\u092a\u0930 \u0905\u0902\u092c\u094d\u0930\u0947\u0932\u093e \u092c\u0928\u0947 \u0924\u094b \u0909\u0938\u0915\u094b \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u0947\u092f\u0930\u093f\u0936 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 (Bearish Hanging Man) \u090f\u0915 \u0938\u093f\u0902\u0917\u0932 \u0915\u0948\u0902\u0921\u0932 \u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0964 \u092f\u0939 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u092c \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0926\u093f\u0936\u093e \u092c\u0926\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u0939\u0948 \u092f\u093e\u0928\u0940 \u092f\u0947 \u091f\u094d\u0930\u0947\u0928\u094d\u0921 \u0930\u093f\u0935\u0930\u094d\u0938\u0932 \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0905\u092a\u0928\u0940 \u090a\u0902\u091a\u093e\u0908 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u0917\u092f\u093e \u0939\u0948\u0964 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u0915\u094b \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u0924\u092d\u0940 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u092c \u0909\u0938\u0915\u0947 \u092a\u0939\u0932\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0924\u0947\u091c\u0940 \u091a\u0932 \u0930\u0939\u0940 \u0939\u094b\u0964 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u090a\u0902\u091a\u093e\u0908 \u0915\u0947 \u092c\u093e\u0926 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u092c\u0928\u0924\u093e \u0939\u0948 \u0907\u0938\u0940\u0932\u093f\u090f \u092c\u0947\u092f\u0930\u093f\u0936 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u092c\u093f\u0915\u0935\u093e\u0932\u0940 \u0915\u093e \u0926\u092c\u093e\u0935 \u0906 \u0930\u0939\u093e \u0939\u0948", "", "\u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u0915\u093e \u0915\u0948\u0902\u0921\u0932 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0930\u0902\u0917 \u0915\u093e \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0905\u0917\u0930 \u0935\u094b \u0936\u0948\u0921\u094b \u091f\u0942 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0930\u0947\u0936\u094d\u092f\u094b \u0915\u0940 \u0905\u092a\u0928\u0940 \u0936\u0930\u094d\u0924 \u092a\u0942\u0930\u0940 \u0915\u0930 \u0930\u0939 \u0939\u094b \u0924\u094b \u0930\u0902\u0917 \u0938\u0947 \u0915\u094b\u0908 \u0905\u0902\u0924\u0930 \u092d\u0940 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e\u0964 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u0915\u0947 \u092c\u0928\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0915\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u090f\u0915 \u0924\u0947\u091c\u0940 \u092f\u093e\u0928\u0940 \u090a\u092a\u0930 \u091c\u093e\u0928\u0947 \u0915\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u091c\u0948\u0938\u093e \u0915\u0940 \u090a\u092a\u0930 \u092e\u0941\u0921\u093c\u0924\u0940 \u0939\u0941\u0908 \u0932\u093e\u0907\u0928 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0906\u0907\u090f \u0907\u0938\u0915\u0947 \u092c\u0928\u0928\u0947 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u0940 \u0938\u094b\u091a \u0915\u094b \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u092c \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u092f\u093e\u0928\u093f \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u0938\u092e\u092f \u0906 \u0917\u092f\u093e \u0939\u0948\u0964 \u0905\u092c \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0938\u094c\u0926\u093e \u0915\u0948\u0938\u0947 \u092c\u0928\u093e\u0928\u093e \u0939\u0948\u0964", "\u090f\u0915 \u092c\u093e\u0930 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0932\u0947\u0928\u0947 \u092a\u0930 \u0915\u0948\u0902\u0921\u0932 \u0915\u093e \u0939\u093e\u0908 \u0939\u0940 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0939\u094b\u0917\u093e\u0964", "", "\u090a\u092a\u0930 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 BPCL\u00a0 Ltd \u0928\u0947 593 \u092a\u0930 \u090f\u0915 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u092c\u0928\u093e\u092f\u093e \u0939\u0948\u0964 OHLC \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u0939\u0948:", "\u0913\u092a\u0928 =592, \u0939\u093e\u0908= 593.7, \u0932\u094b =587, \u0915\u094d\u0932\u094b\u091c =593 \u0907\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091c\u094b \u091f\u094d\u0930\u0947\u0921 \u092f\u093e \u0938\u094c\u0926\u093e \u092c\u0928\u0924\u093e \u0939\u0948 :", "\u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u0939 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0938\u094c\u0926\u093e \u092b\u093e\u092f\u0926\u0947 \u0915\u093e \u0939\u094b\u0917\u093e\u0964", "\u0935\u0948\u0938\u0947 \u0924\u094b \u0939\u0948\u092e\u0930 \u0914\u0930 \u0939\u0948\u0902\u0917\u093f\u0902\u0917, \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0902, \u0932\u0947\u0915\u093f\u0928 \u092e\u0948\u0902 \u0939\u0948\u092e\u0930 \u092a\u0930 \u091c\u094d\u092f\u093e\u0926\u093e \u092d\u0930\u094b\u0938\u093e \u0915\u0930\u0924\u093e \u0939\u0942\u0902, \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902\u0964 \u0905\u0917\u0930 \u092c\u093e\u0915\u0940 \u0938\u093e\u0930\u0940 \u091a\u0940\u091c\u0947\u0902 \u090f\u0915 \u0938\u092e\u093e\u0928 \u0939\u094b \u0914\u0930 \u0926\u094b \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u092e\u094c\u0915\u0947 \u092e\u093f\u0932 \u0930\u0939\u0947 \u0939\u094b\u0902, \u090f\u0915 \u0939\u0948\u092e\u0930 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0914\u0930 \u090f\u0915 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924, \u0924\u094b \u092e\u0948\u0902 \u0905\u092a\u0928\u093e \u092a\u0948\u0938\u093e \u0939\u0948\u092e\u0930 \u0935\u093e\u0932\u0947 \u091f\u094d\u0930\u0947\u0921 \u092a\u0930 \u0932\u0917\u093e\u0909\u0902\u0917\u093e\u0964 \u092f\u0939 \u0938\u093f\u0930\u094d\u092b \u092e\u0947\u0930\u0947 \u0905\u0928\u0941\u092d\u0935 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u092b\u0948\u0938\u0932\u093e \u0939\u0948\u0964 \u0939\u0948\u0902\u0917\u093f\u0902\u0917 \u092e\u0948\u0928 \u092e\u0947\u0902 \u092e\u0947\u0930\u093e \u0935\u093f\u0936\u094d\u0935\u093e\u0938 \u0938\u093f\u0930\u094d\u092b \u0907\u0938\u0932\u093f\u090f \u0915\u092e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092e\u0941\u091d\u0947 \u092f\u0939 \u0928\u0939\u0940\u0902 \u0938\u092e\u091d \u092e\u0947\u0902 \u0906\u0924\u093e \u0915\u093f \u0905\u0917\u0930 \u092c\u0947\u092f\u0930\u094d\u0938 \u0907\u0924\u0928\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0924\u093e\u0915\u0924\u0935\u0930 \u0939\u094b \u091a\u0941\u0915\u0947 \u0939\u0948\u0902 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0932\u094b \u092c\u0928\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0915\u0940\u092e\u0924\u0947\u0902 \u090a\u092a\u0930 \u0915\u094d\u092f\u094b\u0902 \u0917\u0908? \u092e\u0947\u0930\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0910\u0938\u093e \u0939\u094b\u0928\u093e \u092f\u0947 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0905\u092d\u0940 \u092d\u0940 \u092c\u0941\u0932\u094d\u0938 \u0924\u093e\u0915\u0924\u0935\u0930 \u0939\u0948\u0902\u0964", "\u092e\u0947\u0930\u0940 \u0906\u092a\u0938\u0947 \u0917\u0941\u091c\u093e\u0930\u093f\u0936 \u0939\u094b\u0917\u0940 \u0915\u093f \u0906\u092a \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0916\u0941\u0926 \u0926\u0947\u0916\u0947\u0902 \u0914\u0930 \u0905\u092a\u0928\u093e \u0916\u0941\u0926 \u0915\u093e \u0928\u091c\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u090f\u0902\u0964 \u0907\u0938\u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0932\u0947\u0915\u0930 \u0906\u092a \u0905\u092a\u0928\u0940 \u0928\u0908 \u0928\u0940\u0924\u093f\u092f\u093e\u0902 \u092c\u0928\u093e \u092a\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u0938\u092e\u091d \u0938\u0915\u0947\u0902\u0917\u0947\u0964", "\u0938\u093f\u0902\u0917\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0906\u0916\u093f\u0930\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u091c\u093f\u0938\u0915\u094b \u0939\u092e \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0939\u092e \u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0915\u093e \u090f\u0915\u094d\u0936\u0928 \u092f\u093e\u0928\u0940 \u092a\u094d\u0930\u093e\u0907\u0938 \u090f\u0915\u094d\u0936\u0928 \u0915\u093e\u092b\u0940 \u0924\u093e\u0915\u0924\u0935\u0930 \u092f\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093e\u092b\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u092a\u094d\u0930\u091a\u0932\u093f\u0924 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0964", "\u0926\u0947\u0916\u0928\u0947 \u092e\u0947\u0902 \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0909\u0932\u094d\u091f\u0947 \u092a\u0947\u092a\u0930 \u0905\u0902\u092c\u094d\u0930\u0947\u0932\u093e \u0915\u0940 \u0924\u0930\u0939 \u0926\u093f\u0916\u0924\u093e \u0939\u0948\u0964", "", "", "\u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u090f\u0915 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092a\u0947\u092a\u0930 \u0905\u092e\u094d\u092c\u094d\u0930\u0947\u0932\u093e \u0938\u0947 \u0905\u0932\u0917 \u0939\u094b\u0924\u093e \u0939\u0948, \u0935\u094b \u092f\u0947 \u0915\u093f \u0907\u0938\u092e\u0947\u0902 \u090f\u0915 \u0932\u0902\u092c\u093e \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0939\u0948 \u092c\u0932\u094d\u0915\u093f \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092e\u0947\u0902 \u090f\u0915 \u0932\u0902\u092c\u093e \u0905\u092a\u0930 \u0936\u0948\u0921\u094b \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u092d\u0940 \u0936\u0948\u0921\u094b \u0915\u0940 \u0932\u0902\u092c\u093e\u0908 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0938\u0947 \u0915\u092e \u0938\u0947 \u0915\u092e \u0926\u094b\u0917\u0941\u0928\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092d\u0940 \u0915\u0948\u0902\u0921\u0932 \u0915\u0947 \u0930\u0902\u0917 \u0938\u0947 \u0915\u094b\u0908 \u0905\u0902\u0924\u0930 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0915\u0948\u0902\u0921\u0932 \u0932\u093e\u0932 \u0930\u0902\u0917 \u0915\u093e \u0939\u0948 \u0924\u094b \u092f\u0939 \u091c\u094d\u092f\u093e\u0926\u093e \u092d\u0930\u094b\u0938\u0947\u092e\u0902\u0926 \u091c\u0930\u0942\u0930 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0905\u092a\u0930 \u0935\u093f\u0915 (Upper Wick) \u091c\u093f\u0924\u0928\u093e \u092c\u0921\u093c\u093e \u0939\u094b\u0917\u093e \u0907\u0938\u0947 \u0909\u0924\u0928\u093e \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0947\u092f\u0930\u093f\u0936 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u093e\u0928\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0914\u0930 \u092a\u0947\u092a\u0930 \u0905\u092e\u094d\u092c\u094d\u0930\u0947\u0932\u093e \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0915\u093e\u092b\u0940 \u091b\u094b\u091f\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0915\u093f\u0924\u093e\u092c \u0915\u0940 \u092a\u0930\u093f\u092d\u093e\u0937\u093e \u0915\u0947 \u0905\u0928\u0941\u0938\u093e\u0930, \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092e\u0947\u0902 \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b \u0928\u0939\u0940\u0902 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0932\u0947\u0915\u093f\u0928 \u091c\u0948\u0938\u093e \u090a\u092a\u0930 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0935\u0948\u0938\u093e \u090f\u0915 \u091b\u094b\u091f\u093e \u0932\u094b\u0905\u0930 \u0936\u0948\u0921\u094b \u0915\u092d\u0940-\u0915\u092d\u0940 \u092e\u093e\u0928\u094d\u092f \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092c\u0947\u092f\u0930\u093f\u0936 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0915\u0947 \u092a\u0939\u0932\u0947 \u0915\u093e \u091f\u094d\u0930\u0947\u0928\u094d\u0921 \u092c\u0941\u0932\u093f\u0936 \u092f\u093e\u0928\u0940 \u0924\u0947\u091c\u0940 \u0915\u093e \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u0940 \u0938\u094b\u091a :", "\u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f \u091c\u093f\u0938\u092e\u0947\u0902 \u0924\u0947\u091c\u0940 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092c\u0928\u093e \u0939\u0948\u0964", "", "\u0907\u0938 \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092e\u0947\u0902 OHLC \u0939\u0948 :", "\u0913\u092a\u0928 = 1426, \u0939\u093e\u0908 = 1453, \u0932\u094b = 1410, \u0915\u094d\u0932\u094b\u091c =1417", "\u0907\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092f\u0947 \u0938\u094c\u0926\u093e \u092c\u0928\u0947\u0917\u093e\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u092a\u0939\u0932\u0947 \u092c\u093e\u0924 \u0915\u0930 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902 \u090f\u0915 \u092c\u093e\u0930 \u0938\u094c\u0926\u093e \u0936\u0941\u0930\u0942 \u0939\u094b\u0928\u0947 \u092a\u0930 \u0939\u092e\u0947\u0902 \u0924\u092c \u0924\u0915 \u0907\u0902\u0924\u091c\u093e\u0930 \u0915\u0930\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0924\u0915 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u092f\u093e \u091f\u093e\u0930\u0917\u0947\u091f \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u0915\u094b\u0908 \u090f\u0915 \u091a\u0940\u091c \u0928\u093e \u0906 \u091c\u093e\u090f\u0964 \u0939\u093e\u0902 \u0906\u092a \u0905\u092a\u0928\u0947 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u094b \u091f\u094d\u0930\u0947\u0932 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0935\u0948\u0938\u0947 \u0939\u092e\u0928\u0947 \u091f\u094d\u0930\u0947\u0932\u093f\u0902\u0917 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u092d\u0940 \u0924\u0915 \u092c\u093e\u0924 \u0928\u0939\u0940\u0902 \u0915\u0940 \u0939\u0948 \u0914\u0930 \u0939\u092e \u0906\u0917\u0947 \u091a\u0932\u0915\u0930 \u0907\u0938 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u0947 \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0926\u094b\u0928\u094b\u0902 \u0928\u0947 \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0915\u093f\u090f \u0917\u090f \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0905\u091a\u094d\u091b\u093e \u0916\u093e\u0938\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e\u093e\u092f\u093e\u0964", "", "\u092f\u0939 \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948 \u091c\u0939\u093e\u0902 \u092a\u0930 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u093e \u0914\u0930 \u0907\u0938\u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u0930\u094d\u0938 \u0928\u0947 \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0905\u092a\u0928\u093e \u0938\u094c\u0926\u093e \u0915\u093f\u092f\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u091f\u0942\u091f \u0917\u092f\u093e \u0939\u0948 \u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0939\u0940 \u0939\u094b\u0917\u093e \u0915\u093f \u091c\u092c \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0906 \u091c\u093e\u090f \u0924\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0909\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0938\u0947 \u0928\u093f\u0915\u0932 \u091c\u093e\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u0939 \u0938\u094c\u0926\u093e \u0905\u092c \u0915\u093e\u092e \u0915\u093e \u0928\u0939\u0940\u0902 \u0930\u0939 \u091c\u093e\u0924\u093e\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0938\u0947 \u0928\u093f\u0915\u0932 \u091c\u093e\u0928\u093e \u0939\u0948 \u0938\u092c\u0938\u0947 \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "", "\u0938\u0930, \u0921\u093e\u090a\u0928\u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u091c\u092c \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0905\u0925\u0935\u093e \u0907\u0928\u0935\u0930\u094d\u091f\u0947\u0921 \u0939\u0948\u092e\u0930 \u092c\u0928\u0947, \u0924\u092c \u0939\u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u092f\u0947? \u0915\u094d\u092f\u093e \u092f\u0939 \u0935\u0948\u0932\u093f\u0921 \u0915\u0948\u0928\u094d\u0921\u093f\u0932 \u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948?", "Hello \u0939\u093f\u092e\u093e\u0902\u0936\u0941 ,", "\u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u0938\u0947 \u092c\u0947\u092f\u0930\u093f\u0936 \u092a\u094d\u0930\u092d\u093e\u0935 \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u092e\u093f\u0932\u0924\u093e \u0939\u0948 | \u0905\u0917\u0930 \u0921\u093e\u0909\u0928\u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u092d\u0940 \u092f\u0939 \u0926\u093f\u0916\u0947 \u0924\u094b \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0932\u0917\u093e\u0915\u0930 \u092e\u0902\u0926\u0940 \u0916\u0947\u0932\u0928\u093e \u091a\u093e\u0939\u093f\u090f |", "Sir intra day me bhi ye strategy kaam krti h", "agar mai shooting star ko dekhkar trade leta hu toh mera stoploss toh kaafi durr hojaega isse bachne k liye kya krr skte hai?", "Hi \u0906\u0926\u093f\u0924\u094d\u092f, \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u094b \u0926\u0947\u0916\u0915\u0930 \u091f\u094d\u0930\u0947\u0921 \u0932\u0947\u0928\u0947 \u092a\u0930 \u0906\u092a \u0905\u0917\u0932\u0947 \u0915\u0948\u0902\u0921\u0932 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0932\u0917\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0905\u0917\u0932\u093e \u0915\u0948\u0902\u0921\u0932 \u092a\u093f\u091b\u0932\u0947 \u0915\u0948\u0902\u0921\u0932 \u0915\u0947 \u0939\u093e\u0908 \u0915\u094b \u092a\u093e\u0930 \u0915\u0930 \u0932\u0947 \u0924\u094b\u0939 \u0906\u092a \u0938\u094c\u0926\u093e \u0915\u093e\u091f \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092c\u0939\u0941\u0924 \u0939\u0940 \u0905\u091a\u094d\u091b\u0947 \u0924\u0930\u0939 \u0938\u0947 \u0938\u092e\u091d\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0902\u0964 https://www.digitalnewindia.com", "\u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964 \ud83d\ude42", "Thank you sir\u2026\u2026.Iska PDF milega to achha hoga\u2026\u2026.very nice sir\u2026\u2026..zerodha ke aur customer badhenge\u2026\u2026ye sirf jinone zerodha me account open Kiya hai uso hi ye information milna chaihiye\u2026\u2026aur apke bhi customer milenge\u2026..", "PDF \u091c\u0932\u094d\u0926 \u0939\u0947 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u093e\u092f\u093e \u091c\u093e\u092f\u0947\u0917\u093e.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-D1a.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart6.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart7.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/shooting-star.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart8.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart9.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart10.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch7-Chart11.jpg", "https://secure.gravatar.com/avatar/802d817408c022ad725343c360ba3f80?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/44c407512d5867b4916d3f1f9b09f52c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5a6805ae5258954c4ccc8d76197debc9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a8f9765aa470d85a7828448eb8807278?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ce27bdbd2874cf45274ba197de2a8b90?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "8. \u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 (\u092d\u093e\u0917 1)", "text": ["\u0938\u093f\u0902\u0917\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0915\u0947\u0935\u0932 \u090f\u0915 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0935\u0939 \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u092e\u094c\u0915\u0947 \u0922\u0942\u0902\u0922 \u0938\u0915\u0947, \u0932\u0947\u0915\u093f\u0928 \u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0905\u092a\u0928\u0947 \u092e\u094c\u0915\u0947 \u0924\u0932\u093e\u0936\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u092d\u0940-\u0915\u092d\u0940 \u0926\u094b \u092f\u093e \u0924\u0940\u0928 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u094b \u092d\u0940 \u092a\u0939\u091a\u093e\u0928\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0941\u0906 \u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092e\u094c\u0915\u0947 \u0924\u0932\u093e\u0936\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f 2 \u092f\u093e 3 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u0947\u0936\u0928 \u092f\u093e\u0928\u0940 \u0926\u094b \u092f\u093e \u0924\u0940\u0928 \u0926\u093f\u0928\u094b\u0902 \u0915\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u093e \u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u091c\u093f\u0938\u0915\u094b \u0939\u092e \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0935\u0939 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928\u0964 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u092c\u0928\u0928\u0947 \u092e\u0947\u0902 \u0915\u092e \u0938\u0947 \u0915\u092e 2 \u0938\u0947\u0936\u0928 \u0932\u0917\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u092e\u0947\u0902 \u092a\u0939\u0932\u0947 \u0926\u093f\u0928 \u0906\u092a \u090f\u0915 \u091b\u094b\u091f\u093e \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0914\u0930 \u0926\u0942\u0938\u0930\u0947 \u0926\u093f\u0928 \u090f\u0915 \u0932\u0902\u092c\u093e \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0926\u0947\u0916\u0947\u0902\u0917\u0947\u0964 \u0910\u0938\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0926\u0942\u0938\u0930\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0928\u0947 \u092a\u0939\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u094b \u0922\u0915\u093e \u092f\u093e \u0918\u0947\u0930\u093e \u0939\u0941\u0906 \u0939\u0948 \u092f\u093e\u0928\u0940 \u090f\u0928\u0917\u0932\u094d\u092b (engulf) \u0915\u093f\u092f\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u0905\u0917\u0930 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093f\u0938\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u092c\u0928\u0924\u093e \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u094b \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0905\u0917\u0930 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093f\u0938\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u092c\u0928\u0924\u093e \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u094b \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 2 \u0915\u0948\u0902\u0921\u0932 \u0935\u093e\u0932\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u091c\u094b \u0915\u093f \u0915\u093f\u0938\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u092c\u0928\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0928\u093e\u092e \u0938\u0947 \u0939\u0940 \u092a\u0924\u093e \u091a\u0932 \u0930\u0939\u093e \u0939\u0948 \u092f\u0939 \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u092f\u093e\u0928\u0940 \u0924\u0947\u091c\u0940 \u0935\u093e\u0932\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u0914\u0930 \u0907\u0938\u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0916\u0930\u0940\u0926 \u0915\u0930 \u091a\u0932\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 2 \u0926\u093f\u0928\u094b\u0902 \u0935\u093e\u0932\u0947 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0918\u0947\u0930 \u0915\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0907\u0938 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0940 \u0916\u093e\u0938 \u092c\u093e\u0924\u0947\u0902 \u0939\u0948\u0902:", "", "\u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u0940 \u0938\u094b\u091a :", "\u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0938\u0947\u091f\u0905\u092a \u092f\u093e\u0928\u0940 \u0938\u094c\u0926\u093e \u0910\u0938\u0947 \u092c\u0928\u0947\u0917\u093e:", "\u092f\u0939\u093e\u0902 \u092f\u0939 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u093e \u091f\u094d\u0930\u0947\u0921 \u092f\u093e\u0928\u0940 \u0938\u094c\u0926\u093e \u091f\u093e\u0930\u0917\u0947\u091f \u092f\u093e \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u0947 \u0906\u0928\u0947 \u0924\u0915 \u092c\u0928\u093e\u090f \u0930\u0916\u0928\u093e \u0939\u0948\u0964 \u0935\u0948\u0938\u0947, \u092b\u093e\u092f\u0926\u093e \u092c\u0922\u093c\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u092d\u0940-\u0915\u092d\u0940 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u094b \u091f\u094d\u0930\u0947\u0932 \u0915\u0930\u0928\u093e \u092a\u0921\u093c \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0921\u0940\u090f\u0932\u090f\u092b (DLF) \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u093f\u090f \u091c\u0939\u093e\u0902 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0918\u0947\u0930\u0915\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u092f\u0939\u093e\u0901 OHLC \u0939\u0948:", "P1 \u2013 \u0913\u092a\u0928 = 163, \u0939\u093e\u0908 = 168, \u0932\u094b = 158.5, \u0915\u094d\u0932\u094b\u091c = 160", "P2- \u0913\u092a\u0928 = 159.5, \u0939\u093e\u0908 = 170.2, \u0932\u094b = 159, \u0915\u094d\u0932\u094b\u091c = 169", "\u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0938\u094c\u0926\u093e \u0915\u0948\u0938\u093e \u092c\u0928\u0947\u0917\u093e?", "\u0907\u0938 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u0947 \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u0939 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0917\u093e\u0964", "\u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902, \u090f\u0915 \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u0947 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093e, \u091c\u094b \u0915\u093f \u0938\u093f\u092a\u094d\u0932\u093e \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u092c\u0928\u093e \u0939\u0948\u0964 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u093e \u091f\u094d\u0930\u0947\u0921\u0930 \u0907\u0938 \u0905\u091a\u094d\u091b\u0947 \u092e\u094c\u0915\u0947 \u0915\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0917\u0902\u0935\u093e \u0926\u0947\u0917\u093e\u0964", "", "\u0907\u0938 \u092c\u093e\u0924 \u0915\u094b \u0932\u0947\u0915\u0930 \u0915\u0908 \u092c\u093e\u0930 \u0938\u0902\u0926\u0947\u0939 \u092c\u0928\u093e \u0930\u0939\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0948\u0902\u0921\u0932 \u0915\u094b \u0938\u093f\u0930\u094d\u092b \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0915\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u090f\u0928\u0917\u0932\u094d\u092b \u0915\u0930\u0928\u093e \u092f\u093e \u0922\u0902\u0915\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u092f\u093e \u092b\u093f\u0930 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0915\u0947 \u0938\u093e\u0925 \u0938\u093e\u0925 \u0932\u094b\u0905\u0930 \u0914\u0930 \u0905\u092a\u0930 \u0936\u0948\u0921\u094b \u0915\u094b \u092d\u0940 \u0922\u0902\u0915\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u092e\u0947\u0930\u0947 \u0928\u093f\u091c\u0940 \u0905\u0928\u0941\u092d\u0935 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092e\u0948\u0902 \u0915\u0939 \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0915\u093f \u0905\u0917\u0930 \u0915\u0948\u0902\u0921\u0932 \u0938\u0947 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u090f\u0928\u0917\u0932\u094d\u092b \u0939\u094b \u0917\u092f\u093e \u0939\u0948 \u0924\u094b \u092f\u0939 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0964 \u0939\u093e\u0902 \u092f\u0939 \u0938\u091a \u0939\u0948 \u0915\u093f \u0915\u0948\u0902\u0921\u0932 \u0938\u094d\u091f\u093f\u0915 \u0915\u0940 \u0915\u093f\u0924\u093e\u092c\u0940 \u092a\u0930\u093f\u092d\u093e\u0937\u093e \u092e\u093e\u0928\u0928\u0947 \u0935\u093e\u0932\u0947 \u092e\u0947\u0930\u0940 \u0907\u0938 \u0930\u093e\u092f \u0938\u0947 \u0938\u0939\u092e\u0924 \u0928\u0939\u0940\u0902 \u0939\u094b\u0902\u0917\u0947 \u0914\u0930 \u0906\u092a\u0924\u094d\u0924\u093f \u092d\u0940 \u0915\u0930\u0947\u0902\u0917\u0947\u0964\u00a0 \u0932\u0947\u0915\u093f\u0928 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092c\u093e\u0924 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u0948\u0938\u0947 \u0905\u092a\u0928\u0940 \u0915\u0941\u0936\u0932\u0924\u093e \u0915\u094b \u092c\u0922\u093c\u093e\u0924\u0947 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0915\u093f\u0938\u0940 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0926\u0947\u0916\u0915\u0930 \u0905\u091a\u094d\u091b\u093e \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u092a\u093e\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u092a\u0928\u0947 \u0907\u0938\u0940 \u0935\u093f\u091a\u093e\u0930 \u0915\u094b \u0906\u0917\u0947 \u092c\u0922\u093c\u093e\u0924\u0947 \u0939\u0941\u090f, \u092e\u0948\u0902 \u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u092d\u0940 \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u093e\u0928 \u0932\u0942\u0902\u0917\u093e \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u092f\u0939\u093e\u0902 \u092a\u0930 \u0936\u0948\u0921\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u090f\u0928\u0917\u0932\u094d\u092b \u092f\u093e \u0922\u0902\u0915 \u0928\u0939\u0940\u0902 \u0917\u090f \u0939\u0948\u0902\u0964", "", "\u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0926\u094b \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0935\u093e\u0932\u093e \u090f\u0915 \u0910\u0938\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u091c\u094b \u0915\u093f\u0938\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u092c\u0928\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0907\u0938\u0947 \u092c\u0947\u092f\u0930\u093f\u0936 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u0940 \u0938\u094b\u091a \u090f\u0915\u0926\u092e \u0935\u0948\u0938\u0940 \u0939\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u091c\u0948\u0938\u0940 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0905\u0902\u0924\u0930 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0907\u0938\u0947 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u092e\u094c\u0915\u0947 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u0947\u0916\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u0938\u0947 \u0926\u0947\u0916\u093f\u090f, \u092f\u0939\u093e\u0902 \u092a\u0930 \u0926\u094b \u0915\u0948\u0902\u0921\u0932 \u090f\u0915 \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u093e \u0930\u0939\u0947 \u0939\u0948\u0902, \u0907\u0938\u0915\u094b \u0939\u092e \u0928\u0947 \u0918\u0947\u0930 \u0915\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0939\u0948\u0964", "", "\u092f\u0939\u093e\u0902 \u092a\u0930 \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f :", "\u0905\u092c \u0938\u094c\u0926\u0947 \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0939\u094b\u0902\u0917\u0947:", "\u0905\u092c \u0906\u092a \u0928\u0940\u091a\u0947 \u0905\u0902\u092c\u0941\u091c\u093e \u0938\u0940\u092e\u0947\u0902\u091f \u0915\u0947 \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0947\u0902\u0964 \u0907\u0938\u092e\u0947\u0902 \u0926\u094b \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u0947 \u0939\u0948\u0902\u0964 \u092a\u0939\u0932\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u093e\u090f\u0902 \u0924\u0930\u092b \u0939\u0948 \u091c\u093f\u0938\u0915\u094b \u0918\u0947\u0930\u093e \u0917\u092f\u093e \u0939\u0948 \u092f\u0939 \u092a\u0948\u091f\u0930\u094d\u0928 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u092e \u0928\u0939\u0940\u0902 \u0915\u0930 \u0930\u0939\u093e \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0924\u094b \u092f\u0939 \u0938\u094c\u0926\u093e \u0915\u0930\u0947\u0917\u093e \u0939\u0940 \u0928\u0939\u0940\u0902\u0964 \u0926\u0942\u0938\u0930\u093e \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u091c\u094b \u0926\u093e\u0939\u093f\u0928\u0940 \u0924\u0930\u092b \u0939\u0948 \u0935\u0939 \u0926\u094b\u0928\u094b\u0902 \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u092b\u093e\u092f\u0926\u0947\u092e\u0902\u0926 \u0938\u093e\u092c\u093f\u0924 \u0939\u094b\u0917\u093e\u0964", "", "\u090a\u092a\u0930 \u0915\u0947 \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 (\u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u090a\u092a\u0930\u0940 \u0938\u093f\u0930\u0947 \u092a\u0930 \u0918\u0947\u0930\u093e \u0939\u0941\u0906) \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0932\u093f\u090f OHLC\u00a0 \u0939\u0948: \u2026", "P1: \u0913\u092a\u0928 \u2013 214, \u0939\u093e\u0908 \u2013 220, \u0932\u094b \u2013 213.3, \u0915\u094d\u0932\u094b\u091c \u2013 218.75", "P2:\u0913\u092a\u0928 \u2013 220, \u0939\u093e\u0908 \u2013 221, \u0932\u094b \u2013 207.3, \u0915\u094d\u0932\u094b\u091c \u2013 209.4", "\u0907\u0938 \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0936\u0949\u0930\u094d\u091f \u0915\u093e \u091f\u094d\u0930\u0947\u0921 \u0910\u0938\u0947 \u092c\u0928\u0947\u0917\u093e\u2026", "\u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u0947 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0917\u093e\u0964", "\u0905\u092c \u092f\u0939\u093e\u0901 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0926\u093f\u0932\u091a\u0938\u094d\u092a \u091a\u093e\u0930\u094d\u091f \u0939\u0948\u0964 \u0905\u092a\u0928\u0947 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0905\u0928\u0941\u092d\u0935 \u0938\u0947 \u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u092c\u0924\u093e \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u091a\u093e\u0930\u094d\u091f \u091c\u0948\u0938\u0947 \u091a\u093e\u0930\u094d\u091f \u092c\u0939\u0941\u0924 \u092b\u093e\u092f\u0926\u093e \u0926\u093f\u0932\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0910\u0938\u0947 \u091f\u094d\u0930\u0947\u0921 \u092f\u093e \u0938\u094c\u0926\u0947 \u0915\u094b \u0928\u0939\u0940\u0902 \u091b\u094b\u0921\u093c\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u090f\u0915 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0947\u0902, \u0910\u0938\u0940 \u0915\u094c\u0928 \u0938\u0940 \u091a\u0940\u091c\u0947\u0902 \u0939\u0948\u0902 \u091c\u094b \u0906\u092a\u0915\u093e \u0927\u094d\u092f\u093e\u0928 \u0906\u0915\u0930\u094d\u0937\u093f\u0924 \u0915\u0930\u0924\u0940 \u0939\u0948\u0902?", "\u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u090f\u0915 \u0926\u094b\u091c\u0940 \u092c\u0928\u0928\u0947 \u0915\u093e \u0915\u094d\u092f\u093e \u0905\u0938\u0930 \u0939\u094b\u0917\u093e?", "", "\u0906\u0907\u090f \u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u0915\u0940 \u0918\u091f\u0928\u093e\u0913\u0902 \u0915\u094b \u090f\u0915-\u090f\u0915 \u0915\u0930 \u0915\u0947 \u0926\u0947\u0916\u0947\u0902:", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u0905\u092a\u0928\u0947 \u0938\u094d\u0935\u092f\u0902 \u0915\u0947 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0905\u0928\u0941\u092d\u0935 \u0938\u0947 \u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u092c\u0924\u093e \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u091c\u092c \u092d\u0940 \u0915\u094b\u0908 \u0926\u094b\u091c\u0940 \u090f\u0915 \u091c\u093e\u0928\u0947 \u092a\u0939\u091a\u093e\u0928\u0947 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093e \u0905\u0928\u0941\u0938\u0930\u0923 \u0915\u0930\u0924\u093e \u0939\u0948, \u0924\u094b \u0935\u0939 \u090f\u0915 \u0905\u0935\u0938\u0930 \u092c\u0921\u093c\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0915\u0947 \u0905\u0932\u093e\u0935\u093e, \u092e\u0948\u0902 \u0906\u092a\u0915\u093e \u0927\u094d\u092f\u093e\u0928 \u091a\u093e\u0930\u094d\u091f \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0924\u0930\u0940\u0915\u0947 \u0915\u0940 \u0913\u0930 \u092d\u0940 \u0906\u0915\u0930\u094d\u0937\u093f\u0924 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902\u0964 \u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902, \u0939\u092e\u0928\u0947 \u0938\u093f\u0930\u094d\u092b P1 \u092f\u093e P2 \u092a\u0930 \u0915\u094d\u092f\u093e \u0939\u094b \u0930\u0939\u093e \u0925\u093e, \u0909\u0938 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0928\u0939\u0940\u0902 \u0926\u093f\u092f\u093e, \u092c\u0932\u094d\u0915\u093f \u0909\u0938\u0938\u0947 \u0906\u0917\u0947 \u0926\u0947\u0916\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u0939\u0948 \u0914\u0930 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0926\u094b \u0905\u0932\u0917-\u0905\u0932\u0917 \u092a\u0948\u091f\u0930\u094d\u0928\u094b\u0902 \u0915\u094b \u092e\u093f\u0932\u093e \u0926\u093f\u092f\u093e \u0914\u0930 \u092a\u0942\u0930\u0947 \u092c\u093e\u091c\u093e\u0930 \u092a\u0930 \u090f\u0915 \u0928\u091c\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u0939\u0948 \u0964", "\u092a\u093f\u092f\u0930\u094d\u0938\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0914\u0930 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0926\u094b\u0928\u094b\u0902 \u090f\u0915 \u0938\u092e\u093e\u0928 \u0939\u0948\u0902, \u0907\u0928\u092e\u0947\u0902 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u092e\u093e\u092e\u0942\u0932\u0940 \u0905\u0902\u0924\u0930 \u0939\u0948\u0964 \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 P2 \u0915\u093e \u0928\u0940\u0932\u093e \u0915\u0948\u0902\u0921\u0932 P1 \u0915\u0947 \u0932\u093e\u0932 \u0915\u0948\u0902\u0921\u0932 \u0915\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0922\u0902\u0915 \u0932\u0947\u0924\u093e \u0939\u0948\u0964 \u091c\u092c\u0915\u093f, \u090f\u0915 \u092a\u093f\u092f\u0930\u094d\u0938\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 P2 \u0915\u093e \u0928\u0940\u0932\u093e \u0915\u0948\u0902\u0921\u0932 P1 \u0915\u0947 \u0932\u093e\u0932 \u0915\u0948\u0902\u0921\u0932 \u0915\u094b \u0938\u093f\u0930\u094d\u092b \u0906\u0902\u0936\u093f\u0915 \u0930\u0942\u092a \u0938\u0947 \u0939\u0940 \u0922\u0902\u0915\u0924\u093e \u0939\u0948, \u0939\u093e\u0901 \u092f\u0947 \u0922\u0902\u0915\u0928\u093e 50% \u0938\u0947 \u0905\u0927\u093f\u0915 \u0914\u0930 100% \u0938\u0947 \u0915\u092e \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0906\u092a \u0907\u0938\u0947 \u0926\u0947\u0916 \u092d\u0940 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0915\u0940 \u0917\u0923\u0928\u093e \u092d\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092f\u0926\u093f P1 \u0915\u0940 \u0930\u0947\u0902\u091c (\u0913\u092a\u0928 \u2013 \u0915\u094d\u0932\u094b\u091c\u093c) 12 \u0939\u0948, \u0924\u094b P2 \u0915\u0940 \u0930\u0947\u0902\u091c \u0915\u092e \u0938\u0947 \u0915\u092e 6 \u092f\u093e \u0905\u0927\u093f\u0915 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f, \u0932\u0947\u0915\u093f\u0928 12 \u0938\u0947 \u0928\u0940\u091a\u0947\u0964", "", "\u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u092f\u0939 \u0936\u0930\u094d\u0924 \u092a\u0942\u0930\u0940 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f, \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0938\u092c \u0915\u0941\u091b \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u091c\u0948\u0938\u093e \u0939\u0940 \u0939\u094b\u0924\u093e \u0939\u0948, \u092f\u0939\u093e\u0901 \u0924\u0915 \u0915\u093f \u0938\u094c\u0926\u0947 \u092d\u0940\u0964 \u092f\u0939\u093e\u0902 \u090f\u0915 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u093e P2 \u0915\u0947 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u0905\u092a\u0928\u093e \u091f\u094d\u0930\u0947\u0921 \u0936\u0941\u0930\u0942 \u0915\u0930\u0947\u0917\u093e\u0964 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e P2 \u0915\u0947 \u092c\u093e\u0926 \u090f\u0915 \u0928\u0940\u0932\u093e \u0915\u0948\u0902\u0921\u0932 \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0939\u0940 \u0905\u092a\u0928\u093e \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0947\u0917\u093e, \u0914\u0930 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0939\u094b\u0917\u093e \u0907\u0938 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093e \u0932\u094b\u0964", "\u0928\u093f\u092e\u094d\u0928\u0932\u093f\u0916\u093f\u0924 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u090f\u0915 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0947\u0902:", "", "\u092f\u0939\u093e\u0901 P2 \u0915\u093e \u0928\u0940\u0932\u093e \u0915\u0948\u0902\u0921\u0932 P1 \u0915\u0947 \u0932\u093e\u0932 \u0915\u0948\u0902\u0921\u0932 \u0915\u094b 50% \u0938\u0947 \u0915\u0941\u091b \u0915\u092e \u0922\u0902\u0915\u0924\u093e \u0939\u0948, \u0907\u0938\u0932\u093f\u090f \u0939\u092e \u0907\u0938\u0947 \u090f\u0915 \u092a\u093f\u092f\u0930\u094d\u0938\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0928\u0939\u0940\u0902 \u092e\u093e\u0928\u0924\u0947\u0964", "", "\u0921\u093e\u0930\u094d\u0915 \u0915\u094d\u0932\u093e\u0909\u0921 \u0915\u0935\u0930 \u0915\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u0935\u0948\u0938\u0947 \u0924\u094b \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0938\u092e\u093e\u0928 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u090f\u0915 \u0905\u0902\u0924\u0930 \u0939\u0948\u0964 \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 P2 \u0915\u093e \u0932\u093e\u0932 \u0915\u0948\u0902\u0921\u0932 \u0928\u0947 \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0938\u0947 P1 \u0915\u0947 \u0928\u0940\u0932\u0947 \u0915\u0948\u0902\u0921\u0932 \u0915\u094b \u0922\u0902\u0915\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u091c\u092c\u0915\u093f \u0921\u093e\u0930\u094d\u0915 \u0915\u094d\u0932\u093e\u0909\u0921 \u0915\u0935\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902, P2 \u0915\u0940 \u0932\u093e\u0932 \u0915\u0948\u0902\u0921\u0932 P1 \u0915\u0947 \u0928\u0940\u0932\u0947 \u0915\u0948\u0902\u0921\u0932 \u0915\u0947 \u0932\u0917\u092d\u0917 50 \u0938\u0947 100% \u0924\u0915 \u0939\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u091f\u094d\u0930\u0947\u0921 \u0938\u0947\u091f \u0905\u092a \u092f\u093e\u0928\u0940 \u0938\u094c\u0926\u093e \u092c\u093f\u0932\u094d\u0915\u0941\u0932 \u0935\u0948\u0938\u093e \u0939\u0940 \u092c\u0928\u0947\u0917\u093e \u091c\u0948\u0938\u093e \u0915\u093f \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0921\u093e\u0930\u094d\u0915 \u0915\u094d\u0932\u093e\u0909\u0921 \u0915\u0935\u0930 \u0915\u094b \u092a\u093f\u092f\u0930\u094d\u0938\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093e \u0909\u0932\u094d\u091f\u093e \u092e\u093e\u0928\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "", "\u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u090f\u0915 \u0939\u0940 \u0938\u0947\u0915\u094d\u091f\u0930 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902 \u090f\u0915 \u091c\u0948\u0938\u093e \u0939\u0940 \u092e\u0942\u0935\u092e\u0947\u0902\u091f \u092f\u093e\u0928\u0940 \u090f\u0915 \u091c\u0948\u0938\u0940 \u091a\u093e\u0932 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, TCS \u0914\u0930 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u092f\u093e ICICI \u092c\u0948\u0902\u0915 \u0914\u0930 HDFC \u092c\u0948\u0902\u0915 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u094b\u091a\u0947\u0902\u0964 \u0909\u0928\u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u090f\u0915 \u091c\u0948\u0938\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0947 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u0915\u092e\u094b\u092c\u0947\u0936 \u0938\u092e\u093e\u0928 \u0906\u0915\u093e\u0930 \u0915\u0940 \u0939\u0948\u0902, \u0938\u092e\u093e\u0928 \u0935\u094d\u092f\u0935\u0938\u093e\u092f \u092e\u0947\u0902 \u0939\u0948\u0902, \u0914\u0930 \u0935\u094b \u0938\u092c \u092c\u093e\u0939\u0930\u0940 \u0915\u093e\u0930\u0923 \u091c\u094b \u0909\u0928\u0915\u0947 \u0927\u0902\u0927\u0947 \u0915\u094b \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0935\u094b \u092d\u0940 \u090f\u0915 \u0938\u092e\u093e\u0928 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0915\u093f \u0909\u0928\u0915\u0947 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0939\u0930 \u0915\u0926\u092e \u092a\u0930 \u092e\u0947\u0932 \u0916\u093e\u090f\u0902\u0917\u0940\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u0905\u0917\u0930 \u092c\u0948\u0902\u0915\u093f\u0902\u0917 \u0915\u094d\u0937\u0947\u0924\u094d\u0930 \u092e\u0947\u0902 \u0915\u094b\u0908 \u092c\u0941\u0930\u0940 \u0916\u092c\u0930 \u0939\u0948, \u0924\u094b \u092c\u0948\u0902\u0915\u093f\u0902\u0917 \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902 \u0917\u093f\u0930\u093e\u0935\u091f \u0906 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0905\u0917\u0930 ICICI \u092c\u0948\u0902\u0915 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 2% \u0915\u0940 \u0917\u093f\u0930\u093e\u0935\u091f \u0906\u0924\u0940 \u0939\u0948, \u0924\u094b \u092f\u0939 \u091c\u0930\u0942\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0915\u093f HDFC \u092c\u0948\u0902\u0915 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092d\u0940 2% \u0917\u093f\u0930 \u091c\u093e\u090f\u0964 \u0938\u0902\u092d\u0935\u0924\u0903 HDFC \u092c\u0948\u0902\u0915 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 1.5% \u092f\u093e 2.5% \u0915\u0940 \u0917\u093f\u0930\u093e\u0935\u091f \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0926\u094b \u0938\u094d\u091f\u0949\u0915 \u090f\u0915 \u0939\u0940 \u0938\u092e\u092f \u092e\u0947\u0902 2 \u0905\u0932\u0917 (\u0932\u0947\u0915\u093f\u0928 \u0915\u0941\u091b \u0939\u0926 \u0924\u0915 \u0938\u092e\u093e\u0928) \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u091c\u0948\u0938\u0947 \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0914\u0930 \u0921\u093e\u0930\u094d\u0915 \u0915\u094d\u0932\u093e\u0909\u0921 \u0915\u0935\u0930 \u092c\u0928\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092f\u0947 \u0926\u094b\u0928\u094b\u0902 \u091c\u093e\u0928\u0947 \u092a\u0939\u091a\u093e\u0928\u0947 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0902, \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u092e\u0941\u091d\u0947 \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0907\u0928 \u0926\u094b \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u092c\u0940\u091a \u091a\u092f\u0928 \u0915\u0930\u0928\u093e \u0939\u094b \u0924\u094b \u092e\u0948\u0902 \u0921\u093e\u0930\u094d\u0915 \u0915\u094d\u0932\u093e\u0909\u0921 \u0915\u0935\u0930 \u0915\u0947 \u092c\u091c\u093e\u092f \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092a\u0930 \u0905\u092a\u0928\u093e \u092a\u0948\u0938\u093e \u0932\u0917\u093e\u090a\u0902\u0917\u093e\u0964 \u0910\u0938\u093e \u0907\u0938\u0932\u093f\u090f \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u092e\u0902\u0926\u0940 \u0905\u0927\u093f\u0915 \u0938\u094d\u092a\u0937\u094d\u091f \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0926\u093f\u0916\u0924\u0940 \u0939\u0948 (\u0935\u0939 \u0907\u0938\u0932\u093f\u090f \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u092a\u0942\u0930\u0947 \u0915\u0948\u0902\u0921\u0932 \u0915\u094b \u0922\u0902\u0915\u0924\u093e \u0939\u0948)\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u092e\u0948\u0902 \u090f\u0915 \u092a\u093f\u092f\u0930\u094d\u0938\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093e \u091a\u092f\u0928 \u0915\u0930\u0942\u0902\u0917\u093e\u0964", "\u0939\u093e\u0932\u093e\u0902\u0915\u093f \u092e\u0947\u0930\u0947 \u091a\u092f\u0928 \u0915\u0947 \u0907\u0938 \u092a\u0948\u092e\u093e\u0928\u0947 \u0915\u093e \u090f\u0915 \u0905\u092a\u0935\u093e\u0926 \u0939\u0948\u0964 \u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0906\u0917\u0947 \u091a\u0932 \u0915\u0930 \u092e\u0948\u0902 6 \u092a\u094d\u0935\u093e\u0907 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092a\u0947\u0936 \u0915\u0930\u0942\u0901\u0917\u093e\u0964 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u0907\u0938 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092a\u0930 \u0915\u092e \u0938\u0947 \u0915\u092e 3 \u0938\u0947 4 \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f, \u0924\u092d\u0940 \u0935\u094b \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u091f\u094d\u0930\u0947\u0921 \u092e\u093e\u0928\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u0907\u0938 \u092c\u093e\u0924 \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f, \u092e\u093e\u0928 \u0932\u0947\u0902 \u0915\u093f \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0939\u0948 \u091c\u0939\u093e\u0902 ICICI \u092c\u0948\u0902\u0915 \u0915\u093e \u0938\u094d\u091f\u0949\u0915 \u090f\u0915 \u092a\u093f\u092f\u0930\u094d\u0938\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 HDFC \u092c\u0948\u0902\u0915 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u093e\u0924\u093e \u0939\u0948\u0964 \u0938\u094d\u0935\u093e\u092d\u093e\u0935\u093f\u0915 \u0930\u0942\u092a \u0938\u0947 \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093e \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092c\u0947\u0939\u0924\u0930 \u092e\u094c\u0915\u093e \u092e\u093e\u0928\u093e \u091c\u093e\u090f\u0917\u093e, \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 HDFC \u092c\u0948\u0902\u0915 \u0938\u094d\u091f\u0949\u0915 3 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u0938\u0902\u0924\u0941\u0937\u094d\u091f \u0915\u0930\u0924\u093e \u0939\u0948, \u0914\u0930 ICICI \u092c\u0948\u0902\u0915 \u0938\u094d\u091f\u0949\u0915 4 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0924\u093e \u0939\u0948, \u0924\u094b \u092e\u0948\u0902 ICICI \u092c\u0948\u0902\u0915 \u0915\u0947 \u0938\u094d\u091f\u0949\u0915 \u0915\u0947 \u0938\u093e\u0925 \u0906\u0917\u0947 \u092c\u0922\u093c\u0942\u0902\u0917\u093e, \u092d\u0932\u0947 \u0939\u0940 \u0907\u0938\u092e\u0947\u0902 \u090f\u0915 \u0915\u092e \u092d\u0930\u094b\u0938\u0947\u092e\u0902\u0926 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u093e \u0939\u094b\u0964 \u0964", "\u0926\u0942\u0938\u0930\u0940 \u0913\u0930, \u092f\u0926\u093f \u0926\u094b\u0928\u094b\u0902 \u0938\u094d\u091f\u0949\u0915 4 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u0938\u0902\u0924\u0941\u0937\u094d\u091f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092e\u0948\u0902 HDFC \u092c\u0948\u0902\u0915 \u0935\u093e\u0932\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0938\u093e\u0925 \u0906\u0917\u0947 \u092c\u0922\u093c\u0942\u0902\u0917\u093e\u0964", "", "\u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0926\u094b \u092f\u093e \u0926\u094b \u0938\u0947 \u0905\u0927\u093f\u0915 \u0926\u093f\u0928\u094b\u0902 \u092e\u0947\u0902 \u092c\u0928\u0924\u0947\nSir agar 1 hours ki candlestick rakhe toh kya ek din me multiple candlesticks nhi banega kya yeah fir wo jayada reliable nhi hoge", "Hi \u0915\u0930\u0923,", "\u092e\u0932\u094d\u091f\u0940\u092a\u094d\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u090f\u0915 \u0918\u0902\u091f\u0947 \u0915\u0940 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092e\u0947\u0902 \u092d\u0940 \u092c\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u092e\u0917\u0930 \u0935\u0939 \u0925\u094b\u095c\u0947 \u0915\u092e \u0935\u093f\u0936\u094d\u0935\u0938\u0928\u0940\u092f \u092f\u093e \u0930\u093f\u0932\u093e\u090f\u092c\u0932 \u0939\u094b\u0902\u0917\u0947\u0964", "Sir aapki strategy toh samaj me aarhi h pr ye sari strategy kis trading k liye batayi gyi h. F&O k liye, ya cash k liye ya fir intraday k liye.", "Hi \u0926\u0940\u092a\u0915, \u092f\u0939 \u092a\u0948\u091f\u0930\u094d\u0928\u094d\u0938 \u0906\u092a\u0915\u0947 \u0915\u093e\u092e \u0915\u093f\u0938\u0940 \u092d\u0940 \u091f\u093e\u0908\u092e\u0932\u093e\u0908\u0928 \u092e\u0947\u0902 \u0906 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a \u0907\u0928\u0915\u093e \u092a\u094d\u0930\u092f\u094b\u0917 \u0915\u093e\u092f\u0937, \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u092f\u093e \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "Sir,in example number 8.2 m hammer k torr p bhi toh le skte hai ki nhi?\nagr hm downktrend ki baat kre toh downtrend kitni candle ko niche girta hua dekh maana ja skta hai?", "\u0938\u0930, \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 STBT \u0924\u094b \u0932\u0947 \u0939\u0940 \u0928\u0939\u0940 \u0938\u0915\u0924\u0947, \u092b\u093f\u0930 \u0938\u094c\u0926\u093e \u0915\u0947 \u092a\u094d\u0930\u092f\u094b\u0917 \u0915\u093f\u0938\u092e\u0947\u0902 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0905\u0917\u0930 \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940 \u0915\u0947 \u0905\u0902\u0924\u093f\u092e \u0926\u094b \u0926\u093f\u0928 \u092e\u0947\u0902 \u092f\u0939 \u0926\u093f\u0916\u0947 \u0924\u094b \u0911\u092a\u0936\u0928 \u0914\u0930 \u092b\u094d\u092f\u0942\u091a\u0930 \u092d\u0940 \u0928\u0939\u0940 \u0932\u0947 \u092a\u093e\u090f\u0902\u0917\u0947\u0964", "Sir,\nFederal Bank (NSC) 3 April 2020 CMP=39.90\n12 march 2020, P1 \u2013 \u0913\u092a\u0928 = 68.00, \u0939\u093e\u0908 = 68.45, \u0932\u094b = 62.45, \u0915\u094d\u0932\u094b\u091c = 63.10\n13 march, P2- \u0913\u092a\u0928 = 56.60, \u0939\u093e\u0908 = 69.25, \u0932\u094b = 53.65, \u0915\u094d\u0932\u094b\u091c = 68.65\nBullish Engulfing Pattern Bana tha phirbhi Stock niche jane ki wajah kya hai?", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch8-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart21.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart6.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart7.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart8.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart9.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart10.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch8-chart11.jpg", "https://secure.gravatar.com/avatar/86ae117c6483020d0ec57f81b9a95797?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/44c407512d5867b4916d3f1f9b09f52c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5a6805ae5258954c4ccc8d76197debc9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/652a8bff5fdd4e21638d9fd1570a19c5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/df15cd977ae297edfc3015696caa0c42?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "9. \u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 (\u092d\u093e\u0917 2)", "text": ["", "\u0907\u0938\u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u093f \u0906\u092a \u0915\u0941\u091b \u0914\u0930 \u0938\u094b\u091a\u0947\u0902 \u0939\u092e \u092c\u0924\u093e \u0926\u0947\u0924\u0947 \u0939\u0948\u0902, \u2018\u0939\u0930\u093e\u092e\u0940\u2019 \u0936\u092c\u094d\u0926 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u0939\u0930\u093e\u092e\u0940 \u0936\u092c\u094d\u0926 \u0915\u0947 \u0932\u093f\u090f \u0928\u0939\u0940\u0902 \u0939\u0948 \u0964 \u092f\u0939 \u2018\u0917\u0930\u094d\u092d\u0935\u0924\u0940\u2019 \u0915\u0947 \u0932\u093f\u090f \u092a\u0941\u0930\u093e\u0928\u093e \u091c\u093e\u092a\u093e\u0928\u0940 \u0936\u092c\u094d\u0926 \u0939\u0948\u0964 \u091c\u092c \u0906\u092a \u0907\u0938 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0940 \u092c\u0928\u093e\u0935\u091f \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a \u0907\u0938 \u0928\u093e\u092e \u0915\u094b \u0938\u092e\u091d \u0938\u0915\u0947\u0902\u0917\u0947\u0964", "\u0939\u0930\u093e\u092e\u0940 \u0926\u094b \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0935\u093e\u0932\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0964\u00a0 \u0907\u0938\u092e\u0947\u0902 \u092a\u0939\u0932\u0940 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0932\u0902\u092c\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0926\u0942\u0938\u0930\u0940 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092e\u0947\u0902 \u090f\u0915 \u091b\u094b\u091f\u0940 \u0930\u093f\u092f\u0932 \u092c\u0949\u0921\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0926\u0942\u0938\u0930\u0940 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0906\u092e \u0924\u094c\u0930 \u092a\u0930 \u092a\u0939\u0932\u0940 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0947 \u0930\u0902\u0917 \u0915\u0947 \u0935\u093f\u092a\u0930\u0940\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0939\u0930\u093e\u092e\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0940 \u0909\u092a\u0938\u094d\u0925\u093f\u0924\u093f \u092a\u0930 \u090f\u0915 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u0938\u0902\u092d\u0935 \u0939\u0948\u0964 \u0939\u0930\u093e\u092e\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u0926\u094b \u092a\u094d\u0930\u0915\u093e\u0930 \u0915\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u2013 \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u0914\u0930 \u092c\u0947\u092f\u0930\u093f\u0936 \u0939\u0930\u093e\u092e\u0940\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0928\u093e\u092e \u0938\u0947 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948, \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u093f\u0930\u0947 \u092a\u0930 \u0926\u093f\u0916\u0928\u0947 \u0935\u093e\u0932\u093e \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0964 \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u092d\u0940 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 (Engulfing Pattern) \u0915\u0940 \u0924\u0930\u0939 \u0926\u094b \u0926\u093f\u0928 \u092e\u0947\u0902 \u0935\u093f\u0915\u0938\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902, \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0918\u0947\u0930 \u0915\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u0940 \u0938\u094b\u091a \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u0939\u0948:", "\u0939\u0930\u093e\u092e\u0940 \u0915\u0947 \u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921 \u0938\u0947\u091f\u0905\u092a \u092f\u093e\u0928\u0940 \u0938\u094c\u0926\u093e :", "\u092f\u0939\u093e\u0901 \u0928\u0940\u091a\u0947 \u090f\u0915\u094d\u0938\u093f\u0938 \u092c\u0948\u0902\u0915 \u0915\u093e \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u0926\u0947\u0916\u093f\u090f \u0907\u0938\u092e\u0947\u0902 \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u0915\u094b \u0918\u0947\u0930 \u0915\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u092f\u0939\u093e\u0902 OHLC \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u0939\u0948:", "P1 \u2013\u00a0 \u0913\u092a\u0928 = 868, \u0939\u093e\u0908 = 874, \u0932\u094b = 810, \u0915\u094d\u0932\u094b\u091c = 815 P2 \u2013\u00a0 \u0913\u092a\u0928 = 824, \u0939\u093e\u0908 = 847, \u0932\u094b = 818, \u0915\u094d\u0932\u094b\u091c = 835", "\u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u093e P2 \u0915\u0947 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u0915\u0947 \u0915\u0930\u0940\u092c 835 \u092a\u0930 \u0916\u0930\u0940\u0926\u093e\u0930\u0940 \u0915\u0940 \u0936\u0941\u0930\u0941\u0906\u0924 \u0915\u0930\u0947\u0917\u093e\u0964 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 P1 \u0914\u0930 P2 \u0915\u0947 \u092c\u0940\u091a \u0938\u092c\u0938\u0947 \u0915\u092e \u0915\u0940\u092e\u0924 \u0939\u094b\u0917\u093e; \u091c\u094b \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 810 \u0939\u0948\u0964", "\u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e P2 \u0915\u0947 \u092c\u093e\u0926 \u0935\u093e\u0932\u0947 \u0926\u093f\u0928 \u0915\u094d\u0932\u094b\u091c \u0915\u0947 \u0915\u0930\u0940\u092c \u091f\u094d\u0930\u0947\u0921 \u0936\u0941\u0930\u0942 \u0915\u0930 \u0926\u0947\u0917\u093e, \u092c\u0936\u0930\u094d\u0924\u0947 \u092f\u0939 \u090f\u0915 \u0928\u0940\u0932\u0940 \u0915\u0948\u0902\u0921\u0932 \u0915\u093e \u0926\u093f\u0928 \u0939\u094b, \u091c\u094b \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u0939\u0948\u0964", "\u090f\u0915 \u092c\u093e\u0930 \u0938\u094c\u0926\u093e \u0936\u0941\u0930\u0942 \u0939\u094b \u091c\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926, \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092f\u093e \u0924\u094b \u091f\u093e\u0930\u0917\u0947\u091f \u0915\u0947 \u0939\u093f\u091f \u0939\u094b\u0928\u0947 \u092f\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u0947 \u091f\u094d\u0930\u093f\u0917\u0930 \u0939\u094b\u0928\u0947 \u0915\u093e \u0907\u0902\u0924\u091c\u093e\u0930 \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u092f\u0939\u093e\u0902 \u0928\u0940\u091a\u0947 \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u091c\u0939\u093e\u0902 \u0915\u0948\u0902\u0921\u0932 (\u0918\u0947\u0930\u0947 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0908 \u0917\u092f\u0940) \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u0926\u093f\u0916\u093e \u0930\u0939\u0940 \u0939\u0948\u0902, \u0932\u0947\u0915\u093f\u0928 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0907\u0938 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0915\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0902\u0926\u0940 \u0915\u093e \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f, \u0932\u0947\u0915\u093f\u0928 \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092a\u0939\u0932\u0947 \u0915\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0932\u0917\u092d\u0917 \u0938\u092a\u093e\u091f \u0939\u0948 \u091c\u094b \u0939\u092e\u0947\u0902 \u0907\u0938 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u0915\u0939\u0928\u0947 \u0938\u0947 \u0930\u094b\u0915\u0924\u0940 \u0939\u0948\u0964", "", "\u0905\u092c \u090f\u0915 \u0914\u0930 \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u091c\u0939\u093e\u0901 \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u093e \u0932\u0947\u0915\u093f\u0928 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u091f\u094d\u0930\u093f\u0917\u0930 \u0939\u094b\u0928\u0947 \u0938\u0947 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b \u0917\u092f\u093e\u0964", "", "\u092c\u0947\u092f\u0930\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u090f\u0915 \u0924\u0947\u091c\u0940 \u0915\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u092c\u0928\u0924\u093e \u0939\u0948 \u0914\u0930 \u092f\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u093e \u092e\u094c\u0915\u093e \u0926\u0947\u0924\u093e \u0939\u0948\u0964", "", "\u090f\u0915 \u092c\u0947\u092f\u0930\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u093e \u0935\u093f\u091a\u093e\u0930 \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u0939\u0948:", "\u092c\u0947\u092f\u0930\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u0938\u0947\u091f\u0905\u092a \u0939\u0948:", "\u092f\u0939\u093e\u0901 IDFC Limited \u0915\u093e \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u0939\u0948, \u091c\u0939\u093e\u0901 \u092a\u0930 \u092c\u0947\u092f\u0930\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u0926\u093f\u0916\u0924\u093e \u0939\u0948\u0964 OHLC \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u0939\u0948\u0902:", "P1 \u2013 \u0913\u092a\u0928 = 124, \u0939\u093e\u0908 = 129, \u0932\u094b = 122, \u0915\u094d\u0932\u094b\u091c = 127", "P2 \u2013 \u0913\u092a\u0928 = 126.9, \u0939\u093e\u0908 = 129.70, \u0932\u094b, = 125, \u0915\u094d\u0932\u094b\u091c = 124.80", "", "\u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u093e P2 \u0915\u094b \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u0915\u0947 \u0915\u0930\u0940\u092c 125 \u092a\u0930 \u0905\u092a\u0928\u093e \u091f\u094d\u0930\u0947\u0921 \u0936\u0941\u0930\u0942 \u0915\u0930\u0947\u0917\u093e\u0964 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e P2 \u0915\u0947 \u092c\u093e\u0926 \u0935\u093e\u0932\u0947 \u0926\u093f\u0928 \u091f\u094d\u0930\u0947\u0921 \u0936\u0941\u0930\u0942 \u0915\u0930\u0947\u0917\u093e, \u0932\u0947\u0915\u093f\u0928 \u092f\u0939 \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0915\u093f \u092f\u0939 \u0932\u093e\u0932 \u0915\u0948\u0902\u0921\u0932 \u0915\u093e \u0926\u093f\u0928 \u0939\u0948\u0964 \u0907\u0938 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902, \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0928\u0947 \u0938\u094c\u0926\u093e \u0915\u093f\u092f\u093e \u0939\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964", "\u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 P1 \u0914\u0930 P2 \u0915\u0947 \u092c\u0940\u091a \u0938\u092c\u0938\u0947 \u090a\u0901\u091a\u093e \u0939\u093e\u0908 \u0939\u094b\u0917\u093e\u0964 \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092f\u0939 129.70 \u0939\u094b\u0917\u093e\u0964", "what if there is doji after HARAMI pattern ?should it consider as ENGULFING ?", "Nope, it is not a valid price action\u2026so cannot consider as an engulfing pattern.", "Sir i understood patterns , stoploss too but can you explain how to decide target in all single n multiple candlestick patterns.", "This is explained in the S&R chapter, later in the module.", "\u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0915\u0947 \u0906\u0917\u0947 \u0935\u093e\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u0915\u094b \u092a\u095d\u0947\u0902, \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u0905\u091c\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "P2 \u092a\u0930 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 P1 \u0915\u0940 \u0913\u092a\u0928 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0905\u0927\u093f\u0915 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964", "means please explain in hindi\u2026..", "P2 \u0915\u093e \u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u092a\u094d\u0930\u093e\u0907\u0938 P1 \u0915\u0947 \u0913\u092a\u0928\u093f\u0902\u0917 \u092a\u094d\u0930\u093e\u0907\u0938 \u0938\u0947 \u095b\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0928\u093e \u091a\u0939\u093f\u092f\u0947\u0964", "vaghasiya vishal ji bearish harami pattern me P2 \u0915\u093e \u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u092a\u094d\u0930\u093e\u0907\u0938 P1 \u0915\u0947 \u0913\u092a\u0928\u093f\u0902\u0917 \u092a\u094d\u0930\u093e\u0907\u0938 \u0938\u0947 \u095b\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0928\u093e \u091a\u0939\u093f\u092f\u0947", "\u0938\u0942\u091a\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0927\u0928\u094d\u092f\u0935\u093e\u0926 \u0939\u092e \u0907\u0938\u0915\u094b \u0938\u0939\u0940 \u0915\u0930\u0926\u0947\u0902\u0917\u0947\u0964", "I have read whole candle sticks partern is this to consider valid if the stock\u2019s before trend is in side ways partern,", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch9-title.jpg", "https://s.w.org/images/core/emoji/12.0.0-1/svg/1f642.svg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch9-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch9-chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch9-chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch9-chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch9-chart5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch9-chart6.jpg", "https://secure.gravatar.com/avatar/2552021f4658da3350970cddb19f2e44?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e7006c9b61c0445667f6035bae31c072?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3733462f6784267d04cb1f1faf1dff31?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f0f64790da2de7b18c9702bd9f64a8ef?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b4973c88edc02a8d9ef972b244741289?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "10. \u092e\u0932\u094d\u091f\u0940\u092a\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 (\u092d\u093e\u0917 3)", "text": ["\u0905\u0902\u0924\u093f\u092e \u0926\u094b \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u091c\u093f\u0928\u0915\u093e \u0939\u092e \u0905\u0927\u094d\u092f\u092f\u0928 \u0915\u0930\u0947\u0902\u0917\u0947 \u0935\u094b \u0939\u0948\u0902 \u2013 \u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 (Morning Star) \u0914\u0930 \u0908\u0935\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 (Evening Star) \u0964 \u0907\u0938\u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u093f \u0939\u092e \u092e\u093e\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0938\u092e\u091d\u0947\u0902, \u0939\u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0909\u0924\u093e\u0930 \u091a\u0922\u093c\u093e\u0935 \u0915\u0947 \u0926\u094b \u0906\u092e \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0939\u0948- \u0917\u0948\u092a \u0905\u092a \u0913\u092a\u0928\u093f\u0902\u0917 (Gap up opening) \u0914\u0930 \u0917\u0948\u092a \u0921\u093e\u0909\u0928 \u0913\u092a\u0928\u093f\u0902\u0917 (Gap down opening)\u0964 \u0917\u0948\u092a (\u090f\u0915 \u0938\u093e\u092e\u093e\u0928\u094d\u092f \u0936\u092c\u094d\u0926 \u091c\u093f\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0917\u0948\u092a \u0905\u092a \u0914\u0930 \u0917\u0948\u092a \u0921\u093e\u0909\u0928 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u092c\u0924\u093e\u0928\u0947 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948) \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0909\u0924\u093e\u0930 \u091a\u0922\u093c\u093e\u0935 \u0915\u0940 \u090f\u0915 \u0906\u092e \u0917\u0924\u093f\u0935\u093f\u0927\u093f \u0939\u0948\u0964 \u0926\u0948\u0928\u093f\u0915 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0917\u0948\u092a \u0924\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0938\u094d\u091f\u0949\u0915 \u092c\u0902\u0926 \u0924\u094b \u090f\u0915 \u0905\u0932\u0917 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0939\u094b\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u090f\u0915 \u090f\u0915\u0926\u092e \u0939\u0940 \u0905\u0932\u0917 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u0921\u093c\u0947 \u092c\u0926\u0932\u093e\u0935 \u0915\u0947 \u0938\u093e\u0925 \u0916\u0941\u0932\u0924\u093e \u0939\u0948\u0964", "", "\u0917\u0948\u092a \u0905\u092a \u0913\u092a\u0928\u093f\u0902\u0917 (Gap up opening) \u2013 \u0917\u0948\u092a \u0905\u092a \u0913\u092a\u0928\u093f\u0902\u0917 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u093e\u0930\u094b\u0902 \u0915\u0947 \u0924\u0947\u091c\u0940 \u0915\u0947 \u092e\u0942\u0921 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0947 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0916\u0930\u0940\u0926\u093e\u0930 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0915\u094d\u0932\u094b\u091c \u0938\u0947 \u0905\u0927\u093f\u0915 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0938\u094d\u091f\u0949\u0915 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u0916\u0930\u0940\u0926\u093e\u0930 \u0915\u0947 \u0907\u0938 \u092e\u0942\u0921 \u0915\u0947 \u0915\u093e\u0930\u0923, \u0938\u094d\u091f\u0949\u0915 (\u092f\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938) \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0915\u094d\u0932\u094b\u091c \u0938\u0947 \u0915\u093e\u092b\u0940 \u090a\u092a\u0930 \u0916\u0941\u0932\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, ABC \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0940 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u0938\u094b\u092e\u0935\u093e\u0930 \u0915\u094b 100 \u0930\u0941\u092a\u092f\u0947 \u0925\u0940\u0964 \u0938\u094b\u092e\u0935\u093e\u0930 \u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u092c\u0902\u0926 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 ABC \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0928\u0947 \u0905\u092a\u0928\u0947 \u0924\u093f\u092e\u093e\u0939\u0940 \u092a\u0930\u093f\u0923\u093e\u092e\u094b\u0902 \u0915\u0940 \u0918\u094b\u0937\u0923\u093e \u0915\u0940\u0964 \u0928\u0924\u0940\u091c\u0947 \u0907\u0924\u0928\u0947 \u0905\u091a\u094d\u091b\u0947 \u0939\u0948\u0902 \u0915\u093f \u092e\u0902\u0917\u0932\u0935\u093e\u0930 \u0915\u0940 \u0938\u0941\u092c\u0939 \u0916\u0930\u0940\u0926\u093e\u0930 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0907\u0938 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0935\u091c\u0939 \u0938\u0947 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0909\u091b\u0932\u0915\u0930 \u0938\u0940\u0927\u0947 104 \u0930\u0941\u092a\u092f\u0947 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f, 100 \u0914\u0930 104 \u0930\u0942\u092a\u092f\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u0940\u091a \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0928\u0939\u0940\u0902 \u0939\u094b \u0930\u0939\u0940 \u0925\u0940, \u092b\u093f\u0930 \u092d\u0940 \u0938\u094d\u091f\u0949\u0915 104 \u0924\u0915 \u0909\u091b\u0932 \u0917\u092f\u093e\u0964 \u0907\u0938\u0947 \u0917\u0948\u092a \u0905\u092a \u0913\u092a\u0928\u093f\u0902\u0917 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0917\u0948\u092a \u0905\u092a \u0913\u092a\u0928\u093f\u0902\u0917 \u0924\u0947\u091c\u0940 \u0915\u093e \u092e\u0942\u0921 \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0939\u0930\u0947 \u0924\u0940\u0930 \u0938\u0947 \u0917\u0948\u092a \u0905\u092a \u0913\u092a\u0928\u093f\u0902\u0917 \u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u0917\u0948\u092a \u0921\u093e\u0909\u0928 \u0913\u092a\u0928\u093f\u0902\u0917 (Gap down opening)\u00a0 \u2013\u00a0 \u0917\u0948\u092a \u0905\u092a \u0913\u092a\u0928\u093f\u0902\u0917 \u0915\u0940 \u0924\u0930\u0939 \u0939\u0940 \u0917\u0948\u092a \u0921\u093e\u0909\u0928 \u0913\u092a\u0928\u093f\u0902\u0917 \u092d\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0909\u0924\u094d\u0938\u093e\u0939 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u2013 \u0932\u0947\u0915\u093f\u0928 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u094b\u0902 \u092f\u093e\u0928\u0940 \u092c\u0947\u092f\u0930\u094d\u0938 \u0915\u0947 \u0909\u0924\u094d\u0938\u093e\u0939 \u0915\u094b \u0964 \u092f\u0947 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u0947\u092f\u0930\u094d\u0938 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0907\u0924\u0928\u0947 \u0909\u0924\u094d\u0938\u0941\u0915 \u0939\u0948\u0902, \u0915\u093f \u0935\u0947 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u0915\u093e\u092b\u0940 \u0915\u092e \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u090a\u092a\u0930 \u0926\u093f\u090f \u0917\u090f \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902, \u092f\u0926\u093f \u0924\u093f\u092e\u093e\u0939\u0940 \u092a\u0930\u093f\u0923\u093e\u092e \u0916\u0930\u093e\u092c \u0939\u094b\u0924\u0947, \u0924\u094b \u092c\u093f\u0915\u0935\u093e\u0932 \u0938\u094d\u091f\u0949\u0915 \u0938\u0947 \u091b\u0941\u091f\u0915\u093e\u0930\u093e \u092a\u093e\u0928\u093e \u091a\u093e\u0939\u0947\u0902\u0917\u0947 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u092e\u0902\u0917\u0932\u0935\u093e\u0930 \u0915\u094b \u092c\u093e\u091c\u093e\u0930 100 \u0930\u0941\u092a\u092f\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u091c\u093e\u092f \u0938\u094d\u091f\u0949\u0915 \u0938\u0940\u0927\u0947 95 \u092a\u0930 \u0916\u0941\u0932 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092d\u0940, \u0939\u093e\u0932\u093e\u0902\u0915\u093f 100 \u0914\u0930 95 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u092c\u0940\u091a \u0915\u094b\u0908 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0928\u0939\u0940\u0902 \u0925\u0940, \u092b\u093f\u0930 \u092d\u0940 \u0938\u094d\u091f\u0949\u0915 95 \u0930\u0941\u092a\u092f\u0947 \u0924\u0915 \u0917\u093f\u0930 \u0917\u092f\u093e\u0964 \u0917\u0948\u092a \u0921\u093e\u0909\u0928 \u092e\u0902\u0926\u0940 \u0915\u0947 \u092e\u0942\u0921 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0939\u0930\u0947 \u0924\u0940\u0930 \u0938\u0947 \u0917\u0948\u092a \u0921\u093e\u0909\u0928 \u0913\u092a\u0928\u093f\u0902\u0917 \u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u091c\u094b \u0924\u0940\u0928 \u0926\u093f\u0928 \u092e\u0947\u0902 \u0935\u093f\u0915\u0938\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0921\u093e\u0909\u0928\u091f\u094d\u0930\u0947\u0902\u0921 \u0930\u093f\u0935\u0930\u094d\u0938\u0932 \u092a\u0948\u091f\u0930\u094d\u0928 (Downtrend reversal pattern) \u0939\u0948 \u092f\u093e\u0928\u0940 \u092e\u0902\u0926\u0940 \u0915\u0947 \u0925\u092e\u0928\u0947 \u0914\u0930 \u0924\u0947\u091c\u0940 \u0906\u0928\u0947 \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u093e \u092a\u0948\u091f\u0930\u094d\u0928\u0964 \u092f\u0947 \u092a\u0948\u091f\u0930\u094d\u0928 \u0932\u0917\u093e\u0924\u093e\u0930 3 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u094b \u092e\u093f\u0932\u093e\u0915\u0930 \u092c\u0928\u0924\u093e \u0939\u0948\u0964 \u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092e\u0902\u0926\u0940 \u0915\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u093f\u0930\u0947 \u092a\u0930 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u094b \u0918\u0947\u0930 \u0915\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 3 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u090f\u0915 \u0916\u093e\u0938 \u0915\u094d\u0930\u092e \u092e\u0947\u0902 \u0936\u093e\u092e\u093f\u0932 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u092a\u0948\u091f\u0930\u094d\u0928 \u090a\u092a\u0930 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0918\u0947\u0930 \u0915\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u0940 \u0938\u094b\u091a \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u0939\u0948:", "\u090f\u0915 \u0914\u0930 \u0926\u094b \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0935\u093f\u092a\u0930\u0940\u0924, \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u093e \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e-\u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 P3 \u092a\u0930 \u0939\u0940 \u0936\u0941\u0930\u0942 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0924\u0947 \u0938\u092e\u092f \u091a\u094c\u0925\u0947 \u0926\u093f\u0928 \u092a\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0940 \u092a\u094d\u0930\u0924\u0940\u0915\u094d\u0937\u093e \u0915\u0930\u0928\u093e \u0906\u0935\u0936\u094d\u092f\u0915 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u0947 \u0932\u093f\u090f \u0932\u093e\u0902\u0917 \u091f\u094d\u0930\u0947\u0921 \u0938\u0947\u091f\u0905\u092a \u092f\u093e\u0928\u0940 \u0916\u0930\u0940\u0926 \u0915\u093e \u0938\u094c\u0926\u093e \u0928\u093f\u092e\u094d\u0928\u093e\u0928\u0941\u0938\u093e\u0930 \u0939\u094b\u0917\u093e:", "", "\u0908\u0935\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0935\u094b \u0905\u0902\u0924\u093f\u092e \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u091c\u093f\u0938\u0947 \u0939\u092e \u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0938\u0940\u0916\u0947\u0902\u0917\u0947\u0964", "\u0908\u0935\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092d\u0940 \u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u0947 \u091c\u0948\u0938\u093e \u0939\u0940 \u0939\u0948, \u092c\u0938 \u092f\u0947 \u092e\u0902\u0926\u0940 \u0915\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0964 \u0908\u0935\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u090f\u0915 \u0924\u0947\u091c\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u090a\u092a\u0930\u0940 \u0938\u093f\u0930\u0947 \u092a\u0930 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u092e\u0949\u0930\u094d\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u0940 \u0924\u0930\u0939 \u0939\u0940 \u0908\u0935\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u090f\u0915 \u0924\u0940\u0928 \u0915\u0948\u0902\u0921\u0932 \u0935\u093e\u0932\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948 \u0914\u0930 \u092f\u0947 \u0924\u0940\u0928 \u0915\u0930\u094b\u092c\u093e\u0930\u0940 \u0938\u0924\u094d\u0930\u094b\u0902 \u092e\u0947\u0902 \u0935\u093f\u0915\u0938\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "", "\u0908\u0935\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u092a\u0930 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u0915\u093e\u0930\u0923 \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u0939\u0948\u0902:", "\u0908\u0935\u0928\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0915\u0947 \u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921 \u0938\u0947\u091f\u0905\u092a \u0928\u093f\u092e\u094d\u0928\u093e\u0928\u0941\u0938\u093e\u0930 \u0939\u0948:", "\u0907\u0938\u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u093f \u0939\u092e \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u094b \u0938\u092e\u093e\u092a\u094d\u0924 \u0915\u0930\u0947\u0902, \u0939\u092e \u090f\u0915 \u092c\u093e\u0930 \u092b\u093f\u0930 \u0938\u0947 \u0932\u093e\u0902\u0917 \u0914\u0930 \u0936\u0949\u0930\u094d\u091f \u0926\u094b\u0928\u094b\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u090f\u0928\u094d\u091f\u094d\u0930\u0940 \u0914\u0930 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u0947 \u092e\u0941\u0916\u094d\u092f \u092c\u093f\u0928\u094d\u0926\u0941\u0913\u0902 \u092a\u0930 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0947 \u0905\u0927\u094d\u092f\u092f\u0928 \u0915\u0947 \u0926\u094c\u0930\u093e\u0928 \u0939\u092e\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u0938\u0947 \u090f\u0915\u094d\u091c\u093f\u091f \u092f\u093e\u0928\u0940 \u091f\u093e\u0930\u0917\u0947\u091f (\u0932\u0915\u094d\u0937\u094d\u092f) \u092a\u0930 \u092c\u093e\u0924 \u0928\u0939\u0940\u0902 \u0915\u0940 \u0939\u0948\u0964 \u0939\u092e \u092f\u0947 \u0905\u0917\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u093e \u2013 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0935\u093e\u0932\u093e \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u092c\u0928\u0928\u0947 \u0915\u0947 \u0905\u0902\u0924\u093f\u092e \u0926\u093f\u0928 (3:20 \u092c\u091c\u0947) \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u090f\u0928\u094d\u091f\u094d\u0930\u0940 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0914\u0930 \u092a\u0941\u0937\u094d\u091f\u093f \u092e\u093f\u0932\u0928\u0947 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u2013 \u0930\u093f\u0938\u094d\u0915 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u091f\u094d\u0930\u0947\u0921\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0915\u0948\u0902\u0921\u0932 \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u091f\u094d\u0930\u0947\u0921 \u0936\u0941\u0930\u0942 \u0915\u0930\u0947\u0917\u093e\u0964 \u0932\u093e\u0902\u0917 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0915\u0948\u0902\u0921\u0932 \u0915\u093e \u0930\u0902\u0917 \u0928\u0940\u0932\u093e \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0914\u0930 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0915\u0948\u0902\u0921\u0932 \u0915\u093e \u0930\u0902\u0917 \u0932\u093e\u0932 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u090f\u0915 \u0928\u093f\u092f\u092e \u091c\u094b \u0906\u092a \u092e\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u090f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u0947\u0902 \u0936\u093e\u092e\u093f\u0932 \u0926\u093f\u0928\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u091c\u093f\u0924\u0928\u0940 \u0905\u0927\u093f\u0915 \u0939\u094b\u0917\u0940 \u0909\u0924\u0928\u093e \u0939\u0940 \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u0928\u0947 \u0935\u093e\u0932\u0947 \u0909\u0938\u0940 \u0926\u093f\u0928 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0932\u0947\u0902\u0964", "\u090f\u0915 \u0932\u093e\u0902\u0917 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093e \u0938\u092c\u0938\u0947 \u0928\u093f\u091a\u0932\u093e \u0938\u094d\u0924\u0930 \u0939\u0948\u0964 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u093e \u0909\u091a\u094d\u091a\u0924\u092e \u0938\u094d\u0924\u0930 \u0939\u0948\u0964", "\u0939\u092e\u0928\u0947 16 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u091c\u093e\u0928\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0915\u094d\u092f\u093e \u0907\u0924\u0928\u0947 \u0939\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902?", "\u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902\u0964 \u0915\u0908 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0902 \u0914\u0930 \u092e\u0948\u0902 \u0907\u0928 \u092a\u0948\u091f\u0930\u094d\u0928\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u093e \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0938\u0947 \u0939\u092e\u0947\u0902 \u0939\u092e\u093e\u0930\u093e \u0932\u0915\u094d\u0937\u094d\u092f \u0928\u0939\u0940\u0902 \u092e\u093f\u0932\u0947\u0917\u093e\u0964", "\u0939\u092e\u093e\u0930\u093e \u0905\u0902\u0924\u093f\u092e \u0932\u0915\u094d\u0937\u094d\u092f \u092f\u0947 \u0938\u092e\u091d\u0928\u093e \u0914\u0930 \u092a\u0939\u091a\u093e\u0928\u0928\u093e \u0939\u0948 \u0915\u093f \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092c\u093e\u091c\u093e\u0930\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0928\u091c\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u0928\u0947 \u0915\u093e \u090f\u0915 \u0924\u0930\u0940\u0915\u093e \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u0938\u092d\u0940 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u094b\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930, \u090f\u0915 \u092c\u093e\u0930 \u091c\u092c \u0906\u092a \u0915\u093e\u0930 \u091a\u0932\u093e\u0928\u093e \u0938\u0940\u0916 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0907\u0938\u0938\u0947 \u0915\u094b\u0908 \u092b\u0930\u094d\u0915 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e \u0915\u093f \u0906\u092a \u0915\u094c\u0928 \u0938\u0940 \u0915\u093e\u0930 \u091a\u0932\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0939\u094b\u0902\u0921\u093e \u0915\u0940 \u0915\u093e\u0930 \u091a\u0932\u093e\u0928\u093e \u0939\u0941\u0902\u0926\u0908 \u092f\u093e \u092b\u094b\u0930\u094d\u0921 \u0915\u0940 \u0915\u093e\u0930 \u091a\u0932\u093e\u0928\u0947 \u0915\u0947 \u0938\u092e\u093e\u0928 \u0939\u0940 \u0939\u0948\u0964 \u090f\u0915 \u092c\u093e\u0930 \u0915\u093e\u0930 \u091a\u0932\u093e\u0928\u093e \u0906 \u091c\u093e\u090f, \u0924\u094b \u0921\u094d\u0930\u093e\u0907\u0935\u093f\u0902\u0917 \u0938\u094d\u0935\u093e\u092d\u093e\u0935\u093f\u0915 \u0930\u0942\u092a \u0938\u0947 \u0939\u094b\u0924\u0940 \u0939\u0948 \u091a\u093e\u0939\u0947 \u0906\u092a \u091c\u093f\u0938 \u092d\u0940 \u0915\u093e\u0930 \u0915\u094b \u091a\u0932\u093e \u0930\u0939\u0947 \u0939\u094b\u0902\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u090f\u0915 \u092c\u093e\u0930 \u091c\u092c \u0906\u092a \u090f\u0915 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u0940 \u0938\u094b\u091a \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0905\u092a\u0928\u0947 \u0926\u093f\u092e\u093e\u0917 \u0915\u094b \u092a\u094d\u0930\u0936\u093f\u0915\u094d\u0937\u093f\u0924 \u0915\u0930 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0907\u0938\u0938\u0947 \u0915\u094b\u0908 \u092b\u0930\u094d\u0915 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e \u0915\u093f \u0906\u092a \u0915\u093f\u0938 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0915\u0948\u0938\u0947 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u0930\u0928\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0938 \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0948\u0938\u0947 \u0938\u0947\u091f \u0915\u0930\u0928\u093e \u0939\u0948\u0964 \u092c\u0947\u0936\u0915, \u0907\u0938 \u0938\u094d\u0924\u0930 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f, \u0906\u092a\u0915\u094b \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u0938\u0940\u0916\u0928\u0947 \u0914\u0930 \u0909\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0905\u0928\u0941\u092d\u0935 \u0938\u0947 \u0917\u0941\u091c\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u0907\u0938\u0932\u093f\u090f \u0906\u092a\u0915\u094b \u092e\u0947\u0930\u0940 \u0938\u0932\u093e\u0939 \u092f\u0947 \u0939\u0948 \u0915\u093f \u091c\u093f\u0928 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0940 \u0939\u092e\u0928\u0947 \u092f\u0939\u093e\u0902 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0939\u0948, \u0909\u0928\u094d\u0939\u0947\u0902 \u091c\u093e\u0928 \u0932\u0947\u0902\u0964 \u092f\u0947 \u092d\u093e\u0930\u0924\u0940\u092f \u092c\u093e\u091c\u093e\u0930\u094b\u0902 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u092c\u0938\u0947 \u0932\u093e\u092d\u0926\u093e\u092f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0928\u0915\u093e \u092c\u093e\u0930-\u092c\u093e\u0930 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u0947-\u091c\u0948\u0938\u0947 \u0906\u092a \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902 \u0935\u0948\u0938\u0947-\u0935\u0948\u0938\u0947 \u092c\u0941\u0932\u094d\u0938 \u0914\u0930 \u092c\u0947\u092f\u0930\u094d\u0938 \u0915\u0940 \u0935\u093f\u091a\u093e\u0930 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u094b \u0938\u092e\u091d\u0947\u0902 \u0914\u0930 \u0909\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u0935\u093f\u0915\u0938\u093f\u0924 \u0915\u0930\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930\u0947\u0902\u0964 \u092f\u0939 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u094b \u0905\u0927\u094d\u092f\u092f\u0928 \u0915\u0930\u0928\u0947 \u0915\u093e \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u0924\u0930\u0940\u0915\u093e \u0939\u0948\u0964", "Thank you sir\nSir yeah price action kya hota h ?\nYT pe log bolte h price behavior ke bare me aur lakho rs ke course ki fee lete h sir\nSir plzz can u explain what is price action and how to read chart?", "sir ye multiple candlestick 2 ya 3 dino k banne vale pattern h pr ye 2 ya 3 din k pattern ko ek sath mila kr kese dekhe jate h chart pe.", "Sir gap up opening me candle LAAL bane or VOLUME NILA dikhaye toh uska kya matlab ho sakta hai.", "Hi Dipak, \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939\u093e\u0901 \u0938\u092e\u091d\u093e\u092f\u093e \u0939\u0948, \u0915\u0943\u092a\u092f\u093e \u0907\u0938 \u0932\u093f\u0902\u0915 \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0947\u0902:\nhttps://tradingqna.com/t/why-does-the-color-bar-chart-and-volume-bars-show-wrong-color-sometimes/14543", "\u092e\u0941\u091d\u0947 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0915\u0930\u0923\u093e \u0939\u0948 \u0924\u094b \u092e\u0948 \u0915\u094b\u0928\u0938\u0940 \u0915\u0945\u0923\u094d\u0921\u0932 \u0938\u094d\u091f\u093f\u0915 \u0915\u094b \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0941.", "\u0906\u092a Hammer \u0915\u0948\u0902\u0921\u0932 \u0938\u094d\u091f\u093f\u0915 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "Sir target kaise set kare gye pls inform", "\u0939\u092e\u093e\u0930\u0947 Zerodha \u092a\u094b\u0930\u094d\u091f\u0932 \u092a\u0930 \u0935\u093f\u091c\u093f\u091f \u0915\u0930\u0947\u0902, \u092f\u0939\u093e\u0901 \u0938\u093e\u0930\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u0947 \u091c\u0941\u095c\u0947 \u0915\u094d\u0935\u0947\u0930\u0940\u091c \u0906\u092a\u0915\u094b \u092e\u093f\u0932\u091c\u093e\u090f\u0901\u0917\u0947\u0964 https://support.zerodha.com/category/trading-and-markets/margin-leverage-and-product-and-order-types/articles/target-and-stop-loss-simultaneously-futures", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch10-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch10-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch10-chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch10-chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch10-chart4.jpg", "https://secure.gravatar.com/avatar/f2598e56174de661b27edf18ee33496a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/44c407512d5867b4916d3f1f9b09f52c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/44c407512d5867b4916d3f1f9b09f52c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/41e6b006425a76ae9589b38cb43dbaac?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/dcb5e9f999592c28e90cdbdc46663751?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "21. \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917\u0935\u094d\u092f\u0942 \u0915\u0947 \u0909\u092a\u092f\u094b\u0917\u0940 \u092b\u0940\u091a\u0930", "text": ["\u092f\u0926\u093f \u0906\u092a \u0905\u092c \u0924\u0915 \u0928\u0939\u0940\u0902 \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0939\u092e \u092c\u0924\u093e \u0926\u0947\u0902 \u0915\u093f \u0905\u092c \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917\u0935\u094d\u092f\u0942 (TV) \u091c\u0947\u0930\u094b\u0927\u093e \u0915\u093e\u0907\u091f \u092a\u0930 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0964 \u092c\u0940\u091f\u093e \u0932\u0949\u0928\u094d\u091a \u0915\u0940 \u0918\u094b\u0937\u0923\u093e \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0940 Trading Q&A \u092a\u094b\u0938\u094d\u091f \u0915\u0947 \u0932\u093f\u090f \u092f\u0939\u093e\u0901 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0947\u0902\u0964", "\u0907\u0938\u0940\u0932\u093f\u090f \u092e\u0941\u091d\u0947 \u0932\u0917\u093e \u0915\u093f \u092e\u0948\u0902 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917\u0935\u094d\u092f\u0942 (TV) \u0915\u0940 \u0905\u092a\u0928\u0940 \u0915\u0941\u091b \u092a\u0938\u0902\u0926\u0940\u0926\u093e \u0935\u093f\u0936\u0947\u0937\u0924\u093e\u090f\u0902 \u0906\u092a\u0915\u094b \u092c\u0924\u093e \u0926\u0942\u0902\u0964 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f \u0907\u0938\u0938\u0947 \u0906\u092a\u0915\u094b \u092e\u0926\u0926 \u092e\u093f\u0932\u0947\u0917\u0940, \u0916\u093e\u0938\u0915\u0930 \u092f\u0926\u093f \u0906\u092a \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917\u0935\u094d\u092f\u0942 (TV) \u092a\u0930 \u0928\u090f \u0939\u0948\u0902\u0964 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917\u0935\u094d\u092f\u0942 (TV) \u092a\u0930 \u0905\u0927\u093f\u0915\u0924\u0930 \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0941\u0935\u093f\u0927\u093e\u090f\u0902 \u0906\u0938\u093e\u0928 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0928\u0915\u094b \u0938\u092e\u091d\u0928\u093e \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u092e\u0948\u0902 \u0915\u0941\u091b \u0910\u0938\u0940 \u091a\u0940\u091c\u094b\u0902 \u092a\u0930 \u092c\u093e\u0924 \u0915\u0930\u0942\u0902\u0917\u093e \u091c\u094b \u0924\u092c \u0915\u093e\u092b\u0940 \u0915\u093e\u092e \u0906 \u0938\u0915\u0924\u0940 \u0939\u0948\u0902 \u091c\u092c \u0906\u092a \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0938\u093e\u0925 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u0947 \u0939\u094b\u0902\u0964", "\u092f\u0939 \u092b\u0940\u091a\u0930 \u0938\u093f\u0930\u094d\u092b TV \u092a\u0930 \u0939\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0926\u0942\u0938\u0930\u0947 \u092a\u094d\u0932\u0947\u091f\u092b\u093e\u0930\u094d\u092e \u092a\u0930 \u092d\u0940 \u092f\u0947 \u0938\u0941\u0935\u093f\u0927\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0939 \u0905\u0928\u094d\u092f \u092a\u094d\u0932\u0947\u091f\u092b\u093e\u0930\u094d\u092e\u094b\u0902 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 TV \u092a\u0930 \u092c\u0947\u0939\u0924\u0930 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u092e\u0941\u091d\u0947 \u092f\u0915\u0940\u0928 \u0939\u0948 \u0915\u093f \u0906\u092a \u092e\u0947\u0902 \u0938\u0947 \u0905\u0927\u093f\u0915\u093e\u0902\u0936 \u0932\u094b\u0917 \u0932\u0947\u0906\u0909\u091f \u0935\u093f\u0915\u0932\u094d\u092a\u094b\u0902 \u0938\u0947 \u092a\u0930\u093f\u091a\u093f\u0924 \u0939\u0948\u0902\u0964", "\u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a \u2018\u0907\u0902\u0921\u093f\u0917\u094b\u2019 \u092a\u0930 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a \u0911\u0930\u094d\u0921\u0930 \u0926\u0947\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u0926\u0947\u0916\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0907\u0902\u0921\u093f\u0917\u094b \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u0932\u0917-\u0905\u0932\u0917 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u092a\u0930 \u0915\u0948\u0938\u0940 \u0926\u093f\u0916\u0924\u0940 \u0939\u0948\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0906\u092a\u0915\u094b \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0915\u094b 1 \u0926\u093f\u0928 \u0938\u0947 15 \u092e\u093f\u0928\u091f \u092f\u093e 5 \u092e\u093f\u0928\u091f \u092e\u0947\u0902 \u092c\u0926\u0932\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u0938\u0947 \u0915\u093e\u092e \u092a\u0942\u0930\u093e \u0939\u094b \u091c\u093e\u090f\u0917\u093e \u0932\u0947\u0915\u093f\u0928 \u0914\u0930 \u092d\u0940 \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0924\u093e \u092f\u0926\u093f \u0906\u092a \u0905\u0932\u0917 \u0905\u0932\u0917 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u090f\u0915 \u0938\u093e\u0925 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947\u0964 \u0907\u0938\u0938\u0947 \u0906\u092a\u0915\u094b \u0915\u0940\u092e\u0924 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u092e\u093f\u0932\u0924\u0940\u0964\u00a0 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u092e\u0941\u091d\u0947 1 \u0926\u093f\u0928 \u0915\u093e \u091a\u093e\u0930\u094d\u091f, 30 \u092e\u093f\u0928\u091f \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u0914\u0930 15 \u092e\u093f\u0928\u091f \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u0938\u092d\u0940 \u090f\u0915 \u0939\u0940 \u0938\u092e\u092f \u092e\u0947\u0902 \u0926\u0947\u0916\u0928\u093e \u092a\u0938\u0902\u0926 \u0906\u0924\u093e \u0964", "\u0906\u092a \u0907\u0938\u0947 TV \u092a\u0930 \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0926\u0947\u0916\u093f\u090f \u0915\u0948\u0938\u0947 \u2013", "\u090a\u092a\u0930\u0940 \u0926\u093e\u090f\u0902 \u0915\u094b\u0928\u0947 \u092a\u0930 \u0909\u092a\u0932\u092c\u094d\u0927 \u090f\u0915 \u0935\u093f\u0915\u0932\u094d\u092a- \u201c\u0938\u0947\u0932\u0947\u0915\u094d\u091f \u0932\u0947\u0906\u0909\u091f\u201d \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0947\u0902, \u0914\u0930 \u090f\u0915 \u0910\u0938\u093e \u0932\u0947\u0906\u0909\u091f \u091a\u0941\u0928\u0947\u0902 \u091c\u094b \u0906\u092a \u091a\u093e\u0939\u0924\u0947 \u0939\u094b\u0902\u0964 \u091a\u0942\u0901\u0915\u093f \u092e\u0941\u091d\u0947 3 \u091a\u093e\u0930\u094d\u091f \u091a\u093e\u0939\u093f\u090f, \u0907\u0938\u0932\u093f\u090f \u092e\u0948\u0902\u0928\u0947 \u090f\u0915 3 \u091a\u093e\u0930\u094d\u091f \u0932\u0947\u0906\u0909\u091f \u091a\u0941\u0928\u093e\u0964", "", "\u090f\u0915 \u092c\u093e\u0930 \u091c\u092c \u0906\u092a \u0932\u0947\u0906\u0909\u091f \u0915\u094b \u091a\u0941\u0928\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u092f\u0939 \u091a\u093e\u0930\u094d\u091f \u0910\u0938\u093e \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0938\u092d\u0940 \u0924\u0940\u0928 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0906\u092a \u090f\u0915 \u0939\u0940 \u0938\u094d\u091f\u0949\u0915, \u090f\u0915 \u0939\u0940 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902\u00a0 \u2013 \u0907\u0902\u0921\u093f\u0917\u094b \u0915\u093e 1 \u0921\u0947 \u091a\u093e\u0930\u094d\u091f \u0964", "", "\u092f\u0939 \u092d\u0940 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902, \u0924\u0940\u0928 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0938\u0947 \u092c\u093e\u090f\u0902 \u092a\u0948\u0928\u0932 \u0935\u093e\u0932\u0947 \u0915\u094b \u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u0915\u0947 \u092c\u0949\u0930\u094d\u0921\u0930 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "\u0905\u092c \u0939\u092e\u0947\u0902 \u0924\u0940\u0928\u094b\u0902 \u092e\u0947\u0902 \u091f\u093e\u0907\u092e \u092b\u094d\u0930\u0947\u092e \u0915\u094b \u092c\u0926\u0932\u0928\u093e \u0939\u0948\u0964 \u092e\u0947\u0930\u0940 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u092c\u093e\u090f\u0902 \u092a\u0948\u0928\u0932 \u0915\u094b \u0909\u0938 \u091f\u093e\u0907\u092e \u092b\u094d\u0930\u0947\u092e \u092a\u0930 \u0930\u0916\u0928\u093e \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u092e\u0948\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e \u0930\u0916\u0924\u093e \u0939\u0942 \u092f\u093e\u0928\u0940 15 \u092e\u093f\u0928\u091f \u092a\u0930 \u0926\u093e\u092f\u0940\u0902 \u0913\u0930 \u090a\u092a\u0930 \u0915\u093e \u092a\u0948\u0928\u0932 30 \u092e\u093f\u0928\u091f \u0939\u094b\u0917 \u0914\u0930 \u0926\u093e\u092f\u093e\u0902 \u0928\u093f\u091a\u0932\u093e \u092a\u0948\u0928\u0932 1 \u0926\u093f\u0928 \u0915\u093e \u0939\u094b\u0917\u093e\u0964 \u0906\u092a \u0915\u093f\u0938\u0940 \u092d\u0940 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0915\u0947 \u091f\u093e\u0907\u092e \u092b\u094d\u0930\u0947\u092e \u0915\u094b \u092c\u0926\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 (\u091c\u092c \u0906\u092a \u0910\u0938\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u091a\u093e\u0930\u094d\u091f \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u090f\u0915 \u0928\u0940\u0932\u093e \u092c\u0949\u0930\u094d\u0921\u0930 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u093e \u0939\u0948), \u0964 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0915\u094b \u092c\u0926\u0932\u0928\u0947 \u0915\u093e \u0935\u093f\u0915\u0932\u094d\u092a \u0932\u093e\u0932 \u0924\u0940\u0930 \u0926\u094d\u0935\u093e\u0930\u093e \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u0905\u092c \u0907\u0938 \u0932\u0947\u0911\u0909\u091f \u0915\u0947 \u0938\u093e\u0925 \u092e\u0948\u0902 \u0924\u0940\u0928\u094b\u0902 \u091f\u093e\u0907\u092e \u092b\u094d\u0930\u0947\u092e \u092e\u0947\u0902 \u0939\u0941\u090f \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u0926\u0932\u093e\u0935 \u0915\u094b \u090f\u0915 \u0938\u093e\u0925 \u0926\u0947\u0916 \u0938\u0915\u0924\u093e \u0939\u0942\u0902\u0964", "\u090f\u0915 \u092c\u093e\u0930 \u092f\u0947 \u0938\u0947\u091f \u0905\u092a \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0906\u092a \u0915\u0908 \u0905\u091a\u094d\u091b\u0940 \u091a\u0940\u091c\u0947\u0902 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902- \u091c\u0948\u0938\u0947 \u0924\u0940\u0928\u094b\u0902 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0915\u094d\u0930\u0949\u0938\u0939\u0947\u092f\u0930 (crosshair) \u090f\u0915 \u0938\u093e\u0925 \u0938\u093e\u092e\u0902\u091c\u0938\u094d\u092f \u092e\u0947\u0902 \u091a\u0932\u0947\u0917\u093e\u0964", "", "\u0910\u0938\u0947 \u092e\u0947\u0902, \u091c\u092c \u0906\u092a \u0915\u094d\u0930\u0949\u0938\u0939\u0947\u092f\u0930 \u0915\u094b \u090f\u0915 \u0935\u093f\u0936\u0947\u0937 \u092e\u0942\u0932\u094d\u092f \u092c\u093f\u0902\u0926\u0941 \u092a\u0930 \u0930\u0916\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u092f\u0939 \u090f\u0915 \u0938\u093e\u0925 \u0938\u092d\u0940 \u0938\u092e\u092f \u092b\u093c\u094d\u0930\u0947\u092e\u094b\u0902 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0906\u092a\u0915\u094b \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0915\u0947 \u0926\u094c\u0930\u093e\u0928 \u092a\u094d\u0930\u093e\u0907\u0938 \u092e\u0947\u0902 \u0939\u094b \u0930\u0939\u0940 \u0939\u0930\u0915\u0924 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u0924\u0940\u0928 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0938\u0947, \u092f\u0926\u093f \u0906\u092a \u0915\u093f\u0938\u0940 1 \u0935\u093f\u0936\u0947\u0937 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u092c\u0938 \u0926\u093e\u0908\u0902 \u0913\u0930 \u0938\u094d\u0925\u093f\u0924 \u091f\u0949\u0917\u0932 (toggle) \u092c\u091f\u0928 \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0947\u0902\u0964 \u0935\u0939 \u091a\u093e\u0930\u094d\u091f \u092c\u0921\u093c\u093e \u0939\u094b \u091c\u093e\u090f\u0917\u093e\u0964", "", "\u0906\u092a \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u091f\u093f\u092a\u094d\u092a\u0923\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0907\u0938 \u092a\u0930 \u0928\u094b\u091f\u094d\u0938 \u092c\u0928\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0914\u0930 \u0907\u0938\u0947 \u0915\u0947\u0935\u0932 \u0905\u092a\u0928\u0947 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u092a\u0930 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u0905\u0917\u0930 \u0915\u093f\u0938\u0940 \u0926\u093f\u0928 \u0915\u0947 \u0905\u0902\u0924 \u0915\u093e \u091a\u093e\u0930\u094d\u091f (EOD chart) \u0915\u093e \u090f\u0915 \u0921\u092c\u0932 \u091f\u0949\u092a \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u0926\u0947 \u0938\u0915\u0924\u093e \u0939\u0948, \u0924\u094b \u092e\u0948\u0902 \u0905\u092a\u0928\u0947 \u0936\u0949\u0930\u094d\u091f \u0915\u0947 \u0938\u093e\u0925 \u0924\u0948\u092f\u093e\u0930 \u0930\u0939\u0928\u093e \u091a\u093e\u0939\u0942\u0902\u0917\u093e\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u092e\u0948\u0902 \u0938\u093f\u0930\u094d\u092b \u0909\u0938 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u094b\u091f\u094d\u0938 \u092c\u0928\u093e \u0915\u0930 \u0930\u0916 \u0938\u0915\u0924\u093e \u0939\u0942\u0902\u0964 \u0938\u093f\u0930\u094d\u092b \u092e\u0941\u091d\u0947 \u091f\u0947\u0915\u094d\u0938\u094d\u091f \u092c\u0949\u0915\u094d\u0938 (Text Box) \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0928\u093e \u0939\u0948 \u0914\u0930 \u090f\u0915 \u092c\u0949\u0915\u094d\u0938 \u091a\u0941\u0928\u0928\u093e \u0939\u0948 \u2013", "", "\u0905\u092c \u091f\u0947\u0915\u094d\u0938\u094d\u091f \u092c\u0949\u0915\u094d\u0938 \u0915\u094b \u0905\u092a\u0928\u0947 \u091a\u0941\u0928\u0947 \u0939\u0941\u090f \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u092e\u0947\u0902 \u0932\u0947 \u091c\u093e \u0915\u0930 \u0905\u092a\u0928\u0947 \u0928\u094b\u091f\u094d\u0938 \u0932\u093f\u0916 \u0932\u0940\u091c\u093f\u090f\u0964", "", "\u092e\u0932\u094d\u091f\u0940 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0915\u0947 \u0938\u093e\u0925 \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u092f\u0947 \u0938\u0941\u0935\u093f\u0927\u093e \u0907\u0902\u091f\u094d\u0930\u093e \u0921\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0915\u093e\u092b\u0940 \u0915\u093e\u092e \u0915\u0940 \u0939\u0948\u0964", "\u092f\u0939 \u090f\u0915 \u0914\u0930 \u0935\u093f\u0936\u0947\u0937\u0924\u093e \u0939\u0948 \u091c\u094b \u092e\u0941\u091d\u0947 \u092c\u0939\u0941\u0924 \u092a\u0938\u0902\u0926 \u0939\u0948\u0964 \u0915\u0908 \u092c\u093e\u0930 \u092e\u0948\u0902 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0917\u0932\u0924 \u091f\u094d\u0930\u0947\u0902\u0921 \u0932\u093e\u0907\u0928\u094d\u0938 \u0914\u0930 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u0932\u0917\u093e \u0926\u0947\u0924\u093e \u0939\u0942\u0902, \u091c\u0948\u0938\u0947 \u092f\u0947 :", "", "\u0926\u0942\u0938\u0930\u0947 \u091c\u0917\u0939 \u092a\u0930 \u0906\u092a\u0915\u094b \u0907\u0938 \u091f\u094d\u0930\u0947\u0902\u0921 \u0932\u093e\u0907\u0928 \u0915\u094b \u091a\u0941\u0928 \u0915\u0930\u0915\u0947 \u0909\u0938\u0947 \u0921\u093f\u0932\u0940\u091f \u0915\u0930\u0928\u093e \u092f\u093e\u0928\u0940 \u092e\u093f\u091f\u093e\u0928\u093e \u0939\u094b\u0917\u093e, \u0932\u0947\u0915\u093f\u0928 TV \u092a\u0930 \u092f\u0947 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u0915\u094d\u0932\u093f\u0915 \u0938\u0947 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0915\u093f \u092f\u0947 \u0938\u0941\u0935\u093f\u0927\u093e \u0938\u093f\u0930\u094d\u092b \u0938\u092c\u0938\u0947 \u0906\u0916\u093f\u0930 \u0935\u093e\u0932\u0947 \u090f\u0915\u094d\u0936\u0928 \u0915\u094b \u0938\u0941\u0927\u093e\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u0940 \u0939\u0948\u0964", "\u090f\u0915 \u0914\u0930 \u0930\u094b\u091a\u0915 \u0938\u0941\u0935\u093f\u0927\u093e \u0939\u0948 \u0935\u093f\u091c\u0940\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0940\u0964 \u0907\u0938\u0915\u0947 \u091c\u0930\u093f\u090f \u0906\u092a \u0915\u093f\u0938\u0940 \u092d\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0932\u093e\u0907\u0928 \u092f\u093e \u0921\u094d\u0930\u0949\u0907\u0902\u0917 \u0915\u094b \u0915\u093f\u0938\u0940 \u092d\u0940 \u091f\u093e\u0907\u092e \u092b\u094d\u0930\u0947\u092e \u092a\u0930 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u092f\u0939\u093e\u0901 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0915\u094b EOD \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948", "", "\u0905\u092c \u092e\u0948\u0902 \u0907\u0938\u0915\u0940 \u091c\u0917\u0939 \u090f\u0915 \u0939\u0930 \u0918\u0902\u091f\u0947 \u0935\u093e\u0932\u093e \u091a\u093e\u0930\u094d\u091f \u0932\u093e\u0924\u093e \u0939\u0942\u0902 \u0914\u0930 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0905\u092d\u0940 \u092d\u0940 \u0926\u0947\u0916 \u0938\u0915\u0924\u093e \u0939\u0942\u0902\u0964", "", "\u092f\u0947 \u090f\u0915 \u092d\u091f\u0915\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u092c\u093e\u0924 \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0947 \u0907\u0938 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u092e \u0915\u0940 \u0938\u094d\u091f\u0921\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 TV \u092e\u0947\u0902 \u092f\u0947 \u0938\u0941\u0935\u093f\u0927\u093e \u0907\u0938\u0932\u093f\u090f \u0926\u0940 \u0917\u092f\u0940 \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0906\u092a \u0905\u092a\u0928\u0947 \u092e\u0928\u091a\u093e\u0939\u0947 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u092e\u0947\u0902 \u0907\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0938\u0915\u0947\u0902\u0964 \u0914\u0930 \u0906\u092a \u091c\u092c \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u092c\u0926\u0932\u0947\u0902 \u0924\u094b \u092f\u0947 \u0938\u094d\u091f\u0921\u0940 \u0928\u0939\u0940\u0902 \u0926\u093f\u0916\u0947\u0917\u0940\u0964 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0938\u093f\u0930\u094d\u092b \u0938\u094d\u091f\u0921\u0940 \u0915\u0940 \u0938\u0947\u091f\u093f\u0902\u0917 \u092c\u0926\u0932\u0928\u0940 \u0939\u094b\u0917\u0940\u0964", "", "\u092f\u0939\u093e\u0901 \u092e\u0948\u0928\u0947 \u0938\u0947\u091f\u093f\u0902\u0917 \u092e\u0947\u0902 \u0921\u093e\u0932\u093e \u0939\u0948 \u0915\u093f \u092e\u0941\u091d\u0947 \u0938\u094d\u091f\u0921\u0940 \u0938\u093f\u0930\u094d\u092b EOD \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u091a\u093e\u0939\u093f\u090f\u0964 \u0905\u092c \u0905\u0917\u0930 \u092e\u0948\u0902 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u092c\u0926\u0932\u0924\u093e \u0939\u0942\u0902 \u0924\u094b \u092e\u0941\u091d\u0947 \u0938\u094d\u091f\u0921\u0940 \u0928\u0939\u0940\u0902 \u0926\u093f\u0916\u0947\u0917\u0940\u0964", "\u0915\u093f\u0924\u0928\u0940 \u0939\u0940 \u092c\u093e\u0930 \u0906\u092a \u092f\u0939 \u092a\u0924\u093e \u0932\u0917\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0938\u092e\u092f \u092a\u0930 \u0914\u0930 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0924\u093e\u0930\u0940\u0916 \u0915\u094b \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u0939\u094b \u0930\u0939\u093e \u0925\u093e? \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u092e\u0948\u0902 \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902 \u0915\u093f Infy \u0928\u0947 2 \u091c\u0928\u0935\u0930\u0940 2019 \u0915\u094b \u0926\u094b\u092a\u0939\u0930 12:30 \u092c\u091c\u0947 \u0915\u094d\u092f\u093e \u0915\u093f\u092f\u093e \u0925\u093e\u0964 \u092f\u0939 \u092a\u0924\u093e \u0932\u0917\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f, \u0906\u092a\u0915\u094b \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u092e\u093e\u0927\u094d\u092f\u092e \u0938\u0947 \u0938\u094d\u0915\u094d\u0930\u0949\u0932 \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e \u0914\u0930 \u0915\u0908 \u0915\u094b\u0936\u093f\u0936\u094b\u0902 \u0915\u0947 \u092c\u093e\u0926 \u0906\u092a \u0938\u091f\u0940\u0915 \u0924\u093f\u0925\u093f \u092a\u0930 \u092a\u0939\u0941\u0902\u091a\u0947\u0902\u0917\u0947\u0964 TV \u0915\u0947 \u0938\u093e\u0925 \u0910\u0938\u093e \u0915\u094b\u0908 \u091d\u0902\u091d\u091f \u0928\u0939\u0940\u0902 \u0939\u0948, \u0915\u094d\u092f\u094b\u0902\u0915\u093f TV \u092e\u0947\u0902 \u090f\u0915 \u2018\u0917\u094b-\u091f\u0942\u2019 \u0938\u0941\u0935\u093f\u0927\u093e \u0939\u0948\u0964 \u092f\u0939 \u092b\u0940\u091a\u0930 \u0906\u092a\u0915\u094b \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092d\u0940 \u0938\u091f\u0940\u0915 \u0915\u0948\u0902\u0921\u0932 \u0924\u0915 \u0932\u0947 \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092b\u0940\u091a\u0930 \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0928\u093f\u091a\u0932\u0947 \u092d\u093e\u0917 \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0964", "", "\u092f\u0939\u093e\u0901 \u092e\u0948\u0902 5 \u092e\u093e\u0930\u094d\u091a \u0915\u0947 12.15 \u092c\u091c\u0947 \u0915\u0947 \u0915\u0948\u0902\u0921\u0932 \u0915\u094b \u0926\u0947\u0916 \u0930\u0939\u093e \u0939\u0942\u0902", "", "\u0915\u0908 \u092c\u093e\u0930 \u0906\u092a \u092c\u0939\u0941\u0924 \u092e\u0947\u0939\u0928\u0924 \u0938\u0947 \u0916\u0942\u092c \u0938\u094d\u091f\u0921\u0940 \u0915\u0930\u0915\u0947 \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u092c\u0928\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0938\u0947 \u0926\u0942\u0938\u0930\u094b\u0902 \u0915\u0947 \u0938\u093e\u0925 \u0935\u094d\u0939\u093e\u091f\u094d\u0938\u0910\u092a \u0914\u0930 \u091f\u094d\u0935\u0940\u091f \u0915\u0947 \u091c\u0930\u093f\u090f \u0936\u0947\u092f\u0930 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0938\u094d\u0915\u094d\u0930\u0940\u0928\u0936\u0949\u091f \u0932\u0947\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 TV \u092e\u0947\u0902 \u0907\u0938\u0947 \u092d\u0947\u091c\u0928\u0947 \u0915\u093e \u090f\u0915 \u092c\u0922\u093f\u092f\u093e \u0914\u0930 \u0938\u0941\u0928\u094d\u0926\u0930 \u0924\u0930\u0940\u0915\u093e \u0939\u0948\u0964", "\u0906\u092a\u0915\u094b \u0938\u093f\u0930\u094d\u092b Alt + S \u0926\u092c\u093e\u0928\u093e \u0939\u0948", "", "\u0907\u0938\u0938\u0947 \u0906\u092a\u0915\u094b \u0938\u0947\u0935 \u0915\u0930\u0928\u0947 \u092f\u093e \u091f\u094d\u0935\u0940\u091f \u0915\u0930\u0928\u0947 \u0915\u093e \u0911\u092a\u094d\u0936\u0928 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u093e\u0964", "\u0939\u0948\u092a\u094d\u092a\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917!", "\u201ccountdown to bar close\u201d add please !", "\u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u092e\u0947\u0902 \u092f\u0939 \u0938\u0941\u0935\u093f\u0927\u093e \u0939\u092e\u093e\u0930\u0947 \u092a\u093e\u0938 \u0909\u092a\u0932\u092c\u094d\u0927 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u091c\u092c \u0939\u092e \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0907\u0938\u0947 \u0932\u0947\u0915\u0930 \u0906\u090f\u0902\u0917\u0947 \u0924\u094b \u0939\u092e \u0906\u092a\u0915\u094b \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0930\u0942\u092a \u0938\u0947 \u092c\u0924\u093e\u090f\u0902\u0917\u0947\u0964", "Sir plzz price action pe bhi ek pura module daliye plzz\nAur sare module hindi me layer jaldi sir plzz humble request", "\u0939\u092e \u0907\u0938 \u092a\u0930 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0938\u092d\u0940 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u091c\u0932\u094d\u0926 \u0939\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u094b\u0902\u0917\u0947\u0964 \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964", "Sir, VERY 2 THANKS", "You\u2019re welcome.", "\u0938\u0930 \u092e\u0941\u091d\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 go to date \u0915\u093e \u0928\u0940\u091a\u0947 \u092b\u0940\u091a\u0930 \u0928\u0939\u0940 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0905\u092c \u092f\u0947 \u0915\u0939\u093e \u092a\u0930 \u092e\u093f\u0932\u0947\u0917\u093e\u0964", "\u201cTrading view\u201d \u091a\u093e\u0930\u094d\u091f \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u092a\u0930 \u201cGo To\u201d \u0938\u0941\u0935\u093f\u0927\u093e \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0964 \u091c\u092c \u0906\u092a \u091a\u093e\u0930\u094d\u091f \u0916\u094b\u0932\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0915\u0943\u092a\u092f\u093e \u0928\u0940\u091a\u0947 \u201cDate Range\u201d \u0935\u093f\u0915\u0932\u094d\u092a \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0947\u0902, (\u092f\u0926\u093f \u0906\u092a KITE \u092e\u094b\u092c\u093e\u0907\u0932 \u090f\u092a\u094d\u0932\u093f\u0915\u0947\u0936\u0928 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0924\u094b)| \u0906\u092a\u0915\u094b \u0928\u0940\u091a\u0947 \u201cGo To\u201d \u091f\u0948\u092c \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u093e\u0964\n\u0915\u0943\u092a\u092f\u093e Chart IQ \u0938\u0947 Trading View \u092a\u0930 \u0938\u094d\u0935\u093f\u091a \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u0932\u093f\u0902\u0915 \u0915\u094b \u0926\u0947\u0916\u0947\u0902|\nhttps://support.zerodha.com/category/trading-and-markets/kite-web-and-mobile/articles/how-do-i-switch-to-tradingview-charts", "Third party indicators not showing here. and full screen mode also. this will be awesome if you enable it. how to place order on TV for trading ?", "\u0925\u0930\u094d\u0921 \u092a\u093e\u0930\u094d\u091f\u0940 \u0907\u0902\u0921\u0940\u0915\u0947\u091f\u0930\u094d\u0938 \u0926\u093f\u0916\u093e\u090f \u0928\u0939\u0940\u0902 \u091c\u093e \u0938\u0915\u0924\u0947, \u092b\u0941\u0932 \u0938\u094d\u0915\u094d\u0930\u0940\u0928 \u092e\u094b\u0921 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u092a\u0949\u092a\u0905\u092a \u091a\u093e\u0930\u094d\u091f \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0914\u0930 \u091a\u093e\u0930\u094d\u091f \u0911\u092a\u094d\u0936\u0928 \u0938\u0947 \u0906\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0928\u0947 \u0915\u0940 \u0938\u0941\u0935\u093f\u0927\u093e \u0905\u092d\u0940 \u0939\u092e\u093e\u0930\u0947 \u092a\u093e\u0938 \u0909\u092a\u0932\u092c\u094d\u0927 \u0928\u0939\u0940\u0902 \u0939\u0948, \u0939\u092e \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0907\u0938\u0947 \u0932\u0947\u0915\u0930 \u0906\u090f\u0902\u0917\u0947 \u0924\u094b \u0939\u092e \u0906\u092a\u0915\u094b \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0930\u0942\u092a \u0938\u0947 \u092c\u0924\u093e\u090f\u0902\u0917\u0947\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/09/M2-Ch4-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-1_TV.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-2_layout.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-3_load.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/image-4_ch.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-2_layout.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/image-5_toggle.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/image-7_annotate.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-8_undo.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/image-9_fib-retracement.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-10_hr.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-11_vis.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-12_goto.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-13_gototime.png", "https://zerodha.com/varsity/wp-content/uploads/2019/03/Image-14_image.png", "https://secure.gravatar.com/avatar/ccd392c70c5a7527d88c9a86db035ca7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/db1b428575621caa01cbaa4af95ef35a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/652a8bff5fdd4e21638d9fd1570a19c5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/652a8bff5fdd4e21638d9fd1570a19c5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/64f7c7ee26a205c77057174153a89e25?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "12. \u0935\u0949\u0932\u094d\u092f\u0942\u092e", "text": ["\u0935\u0949\u0932\u094d\u092f\u0942\u092e \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u091c\u0930\u0942\u0930\u0940 \u092d\u0942\u092e\u093f\u0915\u093e \u0928\u093f\u092d\u093e\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939 \u0939\u092e\u0947\u0902 \u0930\u0941\u091d\u093e\u0928\u094b\u0902 (\u091f\u094d\u0930\u0947\u0902\u0921) \u0914\u0930 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940, \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u0938\u094b\u091a \u0930\u0939\u0947 \u0939\u0948\u0902 \u092f\u0947 \u091c\u093e\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092a\u0930 \u0928\u091c\u093c\u0930 \u0930\u0916\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "", "\u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u093f\u0938\u0940 \u090f\u0915 \u0938\u092e\u092f \u0905\u0935\u0927\u093f \u092e\u0947\u0902 \u0915\u093f\u0924\u0928\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0947 \u0914\u0930 \u092c\u0947\u091a\u0947 \u0917\u090f \u0939\u0948\u0902\u0964 \u0915\u094b\u0908 \u0936\u0947\u092f\u0930 \u091c\u093f\u0924\u0928\u093e \u0905\u0927\u093f\u0915 \u0938\u0915\u094d\u0930\u093f\u092f \u0939\u094b\u0917\u093e, \u0909\u0938\u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0909\u0924\u0928\u093e \u0939\u0940 \u0905\u0927\u093f\u0915 \u0939\u094b\u0917\u093e\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u0906\u092a \u0905\u092e\u093e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940 \u0915\u0947 100 \u0936\u0947\u092f\u0930 485 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0914\u0930 \u092e\u0948\u0902 485 \u092a\u0930 \u0905\u092e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940 \u0915\u0947 100 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u093e \u0939\u0942\u0902\u0964 \u092f\u0939\u093e\u0901 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u093e \u092e\u0948\u091a \u0939\u0948, \u091c\u093f\u0938\u0915\u0947 \u092a\u0930\u093f\u0923\u093e\u092e\u0938\u094d\u0935\u0930\u0942\u092a \u090f\u0915 \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0906\u092a\u0928\u0947 \u0914\u0930 \u092e\u0948\u0902\u0928\u0947 \u092e\u093f\u0932\u0915\u0930 100 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u0935\u093e\u0932\u094d\u092f\u0942\u092e \u092c\u0928\u093e\u092f\u093e \u0939\u0948\u0964 \u0915\u0908 \u0932\u094b\u0917 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u093e\u0909\u0902\u091f \u0915\u094b 200 (100 \u0916\u0930\u0940\u0926\u0947 + 100 \u092c\u0947\u091a\u0947) \u092e\u093e\u0928 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902, \u091c\u094b \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u093e \u0938\u0939\u0940 \u0924\u0930\u0940\u0915\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0928\u093f\u092e\u094d\u0928\u0932\u093f\u0916\u093f\u0924 \u0915\u093e\u0932\u094d\u092a\u0928\u093f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0906\u092a\u0915\u094b \u092f\u0939 \u0938\u092e\u091d\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u092e\u093f\u0932\u0947\u0917\u0940 \u0915\u093f \u0915\u093f\u0938\u0940 \u090f\u0915 \u0926\u093f\u0928 \u092e\u0947\u0902 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0948\u0938\u0947 \u092c\u0922\u093c\u0924\u093e \u0939\u0948:", "\u0938\u0941\u092c\u0939 9:30 \u092c\u091c\u0947 62.20 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 400 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0916\u0930\u0940\u0926-\u092c\u093f\u0915\u094d\u0930\u0940 \u0939\u0941\u0908\u0964 \u090f\u0915 \u0918\u0902\u091f\u0947 \u092c\u093e\u0926, 500 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u0915\u093e\u0930\u094b\u092c\u093e\u0930 62.75 \u092a\u0930 \u0939\u0941\u0906\u0964 \u0907\u0938\u0932\u093f\u090f \u0938\u0941\u092c\u0939 10:30 \u092c\u091c\u0947 \u092f\u0926\u093f \u0906\u092a \u0926\u093f\u0928 \u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u0932 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u092f\u0939 900 (400 + 500) \u0939\u094b\u0917\u093e\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u0938\u0941\u092c\u0939 11:30 \u092c\u091c\u0947, 63.10 \u092a\u0930 350 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0916\u0930\u0940\u0926-\u092c\u093f\u0915\u094d\u0930\u0940 \u0939\u0941\u0908 \u0964 \u0905\u092c 11:30 \u092c\u091c\u0947 \u0924\u0915 \u0935\u0949\u0932\u094d\u092f\u0942\u092e 1,250 (400 + 500 + 350) \u0939\u094b \u091c\u093e\u090f\u0917\u093e\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u0906\u0917\u0947 \u092d\u0940 \u091a\u0932\u0924\u093e \u0930\u0939\u0947\u0917\u093e\u0964 \u092f\u0939\u093e\u0901 \u0915\u0941\u091b \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u094b \u092c\u0924\u093e\u0928\u0947 \u0935\u093e\u0932\u093e \u0932\u093e\u0907\u0935 \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u090f\u0915 \u0938\u094d\u0915\u094d\u0930\u0940\u0928 \u0936\u0949\u091f \u0928\u0940\u091a\u0947 \u0939\u0948\u0964 \u0907\u0938 \u0938\u094d\u0915\u094d\u0930\u0940\u0928 \u0936\u0949\u091f \u0915\u094b 5 \u0905\u0917\u0938\u094d\u0924 2014 \u0915\u094b \u0905\u092a\u0930\u093e\u0939\u094d\u0928/\u0926\u094b\u092a\u0939\u0930 2:55 \u092c\u091c\u0947 \u0932\u093f\u092f\u093e \u0917\u092f\u093e\u0964", "", "\u0906\u092a \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0915\u093f, \u0915\u092e\u093f\u0902\u0938 \u0907\u0902\u0921\u093f\u092f\u093e \u0932\u093f\u092e\u093f\u091f\u0947\u0921 (Cummins India Limited) \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e 12,72,737 \u0936\u0947\u092f\u0930 \u0939\u0948, \u0907\u0938\u0940 \u0924\u0930\u0939 \u0928\u094c\u0915\u0930\u0940 (\u0907\u0928\u094d\u092b\u094b \u090f\u091c \u0907\u0902\u0921\u093f\u092f\u093e \u0932\u093f\u092e\u093f\u091f\u0947\u0921) \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e 85,427 \u0936\u0947\u092f\u0930 \u0939\u0948\u0964 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u091c\u094b \u0906\u092a \u092f\u0939\u093e\u0902 \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0935\u0939 \u0915\u0941\u0932 \u0935\u0949\u0932\u094d\u092f\u0942\u092e (cumulative) \u0939\u0948\u0964 \u092e\u0924\u0932\u092c, 2:55 \u092c\u091c\u0947, 634.90 (\u0932\u094b) \u0914\u0930 689.85 (\u0939\u093e\u0908) \u0938\u0947 \u0932\u0947\u0915\u0930 \u0935\u093f\u092d\u093f\u0928\u094d\u0928 \u092e\u0942\u0932\u094d\u092f \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u092a\u0930 \u0915\u092e\u093f\u0902\u0938 \u0915\u0947 \u0915\u0941\u0932 12,72,737 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0939\u0941\u0906\u0964 \u092c\u093e\u091c\u093e\u0930 \u092c\u0902\u0926 \u0939\u094b\u0928\u0947 \u0915\u0947 35 \u092e\u093f\u0928\u091f \u092c\u091a\u0947 \u0939\u094b\u0928\u0947 \u0915\u0947 \u0938\u092e\u092f, \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092e\u0947\u0902 \u092c\u0922\u094b\u0924\u094d\u0924\u0930\u0940 \u0924\u0930\u094d\u0915\u0938\u0902\u0917\u0924 \u0939\u0948 (\u092c\u0947\u0936\u0915 \u092f\u0939 \u092e\u093e\u0928\u0924\u0947 \u0939\u0941\u090f \u0915\u093f \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u092c\u093e\u0915\u0940 \u092c\u091a\u0947 \u0939\u0941\u090f \u0938\u092e\u092f \u092e\u0947\u0902 \u092d\u0940 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u093e \u091c\u093e\u0930\u0940 \u0930\u0916\u0947\u0902\u0917\u0947)\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u092f\u0939\u093e\u0902 \u090f\u0915 \u0914\u0930 \u0938\u094d\u0915\u094d\u0930\u0940\u0928 \u0936\u0949\u091f \u0939\u0948 \u091c\u094b \u0909\u0938\u0940 \u0936\u093e\u092e 3:30 \u092c\u091c\u0947 \u0909\u0928\u094d\u0939\u0940\u0902 \u0938\u094d\u091f\u0949\u0915 \u0915\u0947 \u0932\u093f\u090f \u0932\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0915\u092e\u093f\u0902\u0938 \u0907\u0902\u0921\u093f\u092f\u093e \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e 12,72,737 \u0938\u0947 \u092c\u0922\u093c\u0915\u0930 13,49,736 \u0939\u094b \u0917\u092f\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f, \u0915\u092e\u093f\u0902\u0938 \u0907\u0902\u0921\u093f\u092f\u093e \u0915\u0947 \u0932\u093f\u090f \u0926\u093f\u0928 \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e 13,49,736 \u0936\u0947\u092f\u0930 \u0939\u0948\u0964 \u0928\u094c\u0915\u0930\u0940 (Naukri) \u00a0\u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u0932 \u0935\u0949\u0932\u094d\u092f\u0942\u092e\u00a0 86,712 \u0939\u0941\u090f, \u092f\u093e\u0928\u0940 \u0928\u094c\u0915\u0930\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e 85,427 \u0938\u0947 \u092c\u0922\u093c\u0915\u0930 86,712 \u0939\u094b \u0917\u092f\u093e \u0939\u0948\u0964 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u0928\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u0948 \u0915\u093f \u092f\u0939\u093e\u0902 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0926\u093f\u0928 \u0915\u0947 \u0915\u0941\u0932 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u093e \u091c\u094b\u0921\u093c \u0939\u0948\u0902 \u092f\u093e\u0928\u0940 \u0939\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u091c\u094b\u0921\u093c \u0915\u0930 \u092c\u0928\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u0902\u0916\u094d\u092f\u093e\u0964", "\u0905\u092a\u0928\u0947 \u0906\u092a \u092e\u0947\u0902 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u093e \u0915\u094b\u0908 \u0916\u093e\u0938 \u0909\u092a\u092f\u094b\u0917 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u0939\u092e \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u092e\u093f\u0902\u0938 \u0907\u0902\u0921\u093f\u092f\u093e \u092a\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e 13,49,736 \u0936\u0947\u092f\u0930 \u0939\u0948\u0964 \u0924\u094b \u0905\u0932\u0917 \u0938\u0947 \u0938\u093f\u0930\u094d\u092b \u092f\u0939 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u093f\u0924\u0928\u0940 \u0909\u092a\u092f\u094b\u0917\u0940 \u0939\u0948? \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0907\u0938\u0915\u093e \u0915\u094b\u0908 \u092e\u0924\u0932\u092c \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964 \u0939\u093e\u0932\u093e\u0901\u0915\u093f \u091c\u092c \u0906\u092a \u0906\u091c \u0915\u0940 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u094b \u2013 \u092a\u0939\u0932\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u0938\u093e\u0925 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u092b\u093f\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092c\u0939\u0941\u0924 \u0905\u0927\u093f\u0915 \u0915\u093e\u092e \u0915\u0940 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0926\u0940 \u0917\u0908 \u0924\u093e\u0932\u093f\u0915\u093e \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0928\u0947 \u0915\u093e \u090f\u0915 \u0938\u093e\u0930\u093e\u0902\u0936 \u092e\u093f\u0932\u0947\u0917\u093e:", "\u090a\u092a\u0930 \u0926\u0940 \u0917\u0908 \u0924\u093e\u0932\u093f\u0915\u093e \u092e\u0947\u0902 \u092a\u0939\u0932\u0940 \u092a\u0902\u0915\u094d\u0924\u093f \u0915\u0939\u0924\u0940 \u0939\u0948, \u091c\u092c \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092c\u0922\u093c\u0924 \u0915\u0947 \u0938\u093e\u0925-\u0938\u093e\u0925 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092c\u0922\u093c\u0924\u093e \u0939\u0948, \u0924\u094b \u0909\u092e\u094d\u092e\u0940\u0926 \u0924\u0947\u091c\u0940 \u0915\u0940 (\u092c\u0941\u0932\u093f\u0936) \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0907\u0938\u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u093f \u0939\u092e \u090a\u092a\u0930 \u0926\u0940 \u0917\u0908 \u0924\u093e\u0932\u093f\u0915\u093e \u0915\u094b \u0938\u092e\u091d\u0947\u0902, \u0907\u0938 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u094b\u091a\u0947\u0902 \u2013 \u0939\u092e \u2018\u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u0930\u0940\u2019 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u092e\u0924\u0932\u092c \u0939\u0948? \u0907\u0938\u0915 \u0938\u0902\u0926\u0930\u094d\u092d \u092f\u0939\u093e\u0902 \u0915\u094d\u092f\u093e \u0939\u0948? \u0915\u094d\u092f\u093e \u092f\u0939\u093e\u0901 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0940 \u092c\u093e\u0924 \u0939\u094b \u0930\u0939\u0940 \u0939\u0948 \u092f\u093e \u092a\u093f\u091b\u0932\u0947 \u0938\u092a\u094d\u0924\u093e\u0939 \u0915\u0947 \u0915\u0941\u0932 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0940? \u0935\u0943\u0926\u094d\u0927\u093f \u0915\u0939\u093e\u0901 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f?", "\u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092a\u093f\u091b\u0932\u0947 10 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0947 \u0914\u0938\u0924 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u0906\u091c \u0915\u0947 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0938\u0947 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0935\u093e\u0932\u094d\u092f\u0942\u092e \u0915\u094b \u0910\u0938\u0947 \u092a\u0930\u093f\u092d\u093e\u0937\u093f\u0924 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 :", "\u0939\u093e\u0908 \u0935\u0949\u0932\u094d\u092f\u0942\u092e = \u0906\u091c \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e > \u092a\u093f\u091b\u0932\u0947 10 \u0926\u093f\u0928\u094b\u0902 \u0915\u093e \u0914\u0938\u0924 \u0935\u0949\u0932\u094d\u092f\u0942\u092e", "\u0932\u094b \u0935\u0949\u0932\u094d\u092f\u0942\u092e = \u0906\u091c \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u00a0< \u092a\u093f\u091b\u0932\u0947 10 \u0926\u093f\u0928\u094b\u0902 \u0915\u093e \u0914\u0938\u0924 \u0935\u093e\u0932\u094d\u092f\u0942\u092e", "\u090f\u0935\u0930\u0947\u091c \u0935\u0949\u0932\u094d\u092f\u0942\u092e = \u0906\u091c \u0915\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e = \u092a\u093f\u091b\u0932\u0947 10 \u0926\u093f\u0928\u094b\u0902 \u0915\u093e \u0914\u0938\u0924 \u0935\u0949\u0932\u094d\u092f\u0942\u092e", "\u092a\u093f\u091b\u0932\u0947 10 \u0926\u093f\u0928 \u0915\u093e \u0914\u0938\u0924 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u091c\u093e\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f, \u0906\u092a\u0915\u094b \u0915\u0947\u0935\u0932 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092c\u093e\u0930 \u092a\u0930 \u090f\u0915 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0932\u093e\u0907\u0928 \u0916\u0940\u0902\u091a\u0928\u0940 \u0939\u094b\u0917\u0940\u0964\u00a0 \u0939\u092e \u0905\u0917\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "", "\u090a\u092a\u0930 \u0926\u093f\u090f \u0917\u090f \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902, \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u0915\u0947 \u092c\u093e\u0930 \u0915\u0947 \u0930\u0942\u092a (\u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0928\u0940\u091a\u0947) \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u0939\u0948\u0902\u0964 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092c\u093e\u0930 \u092a\u0930 \u0916\u0940\u0902\u091a\u0940 \u0917\u0908 \u0932\u093e\u0932 \u0930\u0947\u0916\u093e 10 \u0926\u093f\u0928 \u0915\u0947 \u0914\u0938\u0924 \u0915\u094b \u0926\u0930\u094d\u0936\u093e\u0924\u0940 \u0939\u0948\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, 10 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0914\u0938\u0924 \u0938\u0947 \u0905\u0927\u093f\u0915 \u0914\u0930 \u090a\u092a\u0930 \u0935\u093e\u0932\u0947 \u0938\u092d\u0940 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092c\u093e\u0930 \u0915\u094b \u091c\u094d\u092f\u093e\u0926\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u093e \u0926\u093f\u0928 \u092e\u093e\u0928\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0928 \u0926\u093f\u0928\u094b\u0902 \u092a\u0930 \u0915\u0941\u091b \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0917\u0924\u093f\u0935\u093f\u0927\u093f (Institutional activity )\u092f\u093e \u092c\u0921\u093c\u0940 \u092d\u093e\u0917\u0940\u0926\u093e\u0930\u0940 \u0939\u0941\u0908 \u0939\u0948\u0964", "\u0907\u0938 \u092c\u093e\u0924 \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f, \u00a0\u0905\u092c \u0906\u092a \u0915\u0940\u092e\u0924 \u2013 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0924\u093e\u0932\u093f\u0915\u093e \u0926\u0947\u0916\u0947\u0902\u0964", "\u091c\u092c \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0928\u093f\u0935\u0947\u0936\u0915 \u0916\u0930\u0940\u0926 \u092f\u093e \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0935\u0947 \u0938\u094d\u092a\u0937\u094d\u091f \u0930\u0942\u092a \u0938\u0947 \u091b\u094b\u091f\u0947 \u0938\u094c\u0926\u0947 \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u092d\u093e\u0930\u0924 \u0915\u0947 LIC \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u094b\u091a\u0947\u0902, \u0935\u0947 \u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0947 \u0918\u0930\u0947\u0932\u0942 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0935\u0947 \u0915\u092e\u093f\u0902\u0938 \u0907\u0902\u0921\u093f\u092f\u093e \u0915\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0947\u0902\u0917\u0947, \u0924\u094b \u0915\u094d\u092f\u093e \u0906\u092a \u0938\u094b\u091a\u0947\u0902\u0917\u0947 \u0915\u093f \u0935\u0947 500 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0947\u0902\u0917\u0947? \u091c\u093e\u0939\u093f\u0930 \u0939\u0948, \u0935\u0947 \u0936\u093e\u092f\u0926 500,000 \u0936\u0947\u092f\u0930 \u092f\u093e \u0907\u0938\u0938\u0947 \u092d\u0940 \u0905\u0927\u093f\u0915 \u0916\u0930\u0940\u0926\u0947\u0902\u0917\u0947\u0964 \u0905\u092c, \u0905\u0917\u0930 \u0935\u0947 \u0916\u0941\u0932\u0947 \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 500,000 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0947 \u0925\u0947, \u0924\u094b \u092f\u0939 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092e\u0947\u0902 \u0926\u093f\u0916\u0928\u0947 \u0932\u0917\u0947\u0917\u093e\u0964 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e, \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u090f\u0915 \u092c\u0921\u093c\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u0916\u0930\u0940\u0926 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092d\u0940 \u092c\u0922\u093c \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0927\u0928 \u0915\u094b \u201c\u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940\u201d \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u091b\u094b\u091f\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u0939\u092e\u0947\u0936\u093e \u0938\u092e\u091d\u0926\u093e\u0930\u0940 \u0938\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0915\u093e \u0905\u0928\u0941\u0938\u0930\u0923 \u0915\u0930\u0928\u093e \u090f\u0915 \u092c\u0941\u0926\u094d\u0927\u093f\u092e\u093e\u0928\u0940 \u0915\u093e \u0915\u093e\u092e \u0939\u0948\u0964", "\u092f\u0926\u093f \u0915\u0940\u092e\u0924 \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0939\u094b \u0930\u0939\u0940 \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u093e \u0915\u0947\u0935\u0932 \u090f\u0915 \u0939\u0940 \u092e\u0924\u0932\u092c \u0939\u0948 \u2013 \u090f\u0915 \u092c\u0921\u093c\u093e \u0916\u093f\u0932\u093e\u0921\u093c\u0940 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0926\u093f\u0932\u091a\u0938\u094d\u092a\u0940 \u0926\u093f\u0916\u093e \u0930\u0939\u093e \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0947 \u0927\u093e\u0930\u0923\u093e \u0939\u0948 \u0915\u093f \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0939\u092e\u0947\u0936\u093e \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u0940 \u0939\u0948\u0964", "\u092f\u093e \u0915\u0939 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f, \u091c\u092c \u092d\u0940 \u0906\u092a \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0947\u0902 \u0915\u093f \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092a\u0930\u094d\u092f\u093e\u092a\u094d\u0924 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0915\u0947 \u0938\u093e\u0925 \u0916\u0930\u0940\u0926 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "\u092f\u0939\u0940 \u092c\u093e\u0924 \u090a\u092a\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u091f\u094d\u0930\u0947\u0902\u0921 \u0924\u093e\u0932\u093f\u0915\u093e \u0915\u0940 \u092a\u0939\u0932\u0940 \u092a\u0902\u0915\u094d\u0924\u093f \u092d\u0940 \u092c\u0924\u093e \u0930\u0939\u0940 \u0925\u0940- \u091c\u092c \u0915\u0940\u092e\u0924 \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0926\u094b\u0928\u094b\u0902 \u092c\u0922\u093c \u091c\u093e\u0924\u0947 \u0939\u0948 \u0924\u094b \u0924\u0947\u091c\u0940 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u092c\u0928 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0932\u0947\u0915\u093f\u0928 \u0926\u0942\u0938\u0930\u0940 \u092a\u0902\u0915\u094d\u0924\u093f \u092e\u0947\u0902 \u0938\u0902\u0915\u0947\u0924 \u0915\u0947 \u0905\u0928\u0941\u0938\u093e\u0930 \u091c\u092c \u092e\u0942\u0932\u094d\u092f \u092c\u0922\u093c\u0924\u093e \u0939\u0948 \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0918\u091f \u091c\u093e\u0924\u093e \u0939\u0948, \u0924\u092c \u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948?", "\u0928\u093f\u092e\u094d\u0928\u0932\u093f\u0916\u093f\u0924 \u092c\u093e\u0924\u094b\u0902 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0907\u0938\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u094b\u091a\u0947\u0902:", "\u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u093e\u0930\u0940 \u0939\u094b \u0930\u0939\u0940 \u0939\u0948\u0964", "\u0915\u092e \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0939\u0948\u0964", "\u0906\u0938\u093e\u0928 \u0939\u0948, \u092f\u0926\u093f \u0935\u0947 \u0916\u0930\u0940\u0926 \u0930\u0939\u0947 \u0925\u0947 \u0924\u094b \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092e\u0947\u0902 \u0935\u0943\u0926\u094d\u0927\u093f \u0939\u094b\u0924\u0940, \u0915\u092e\u0940 \u0928\u0939\u0940\u0902\u0964", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u090f\u0915 \u091b\u094b\u091f\u0940 \u0916\u0941\u0926\u0930\u093e \u092d\u093e\u0917\u0940\u0926\u093e\u0930\u0940 \u0915\u0947 \u0915\u093e\u0930\u0923 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c \u0930\u0939\u0940 \u0939\u0948, \u092c\u0921\u093c\u0940 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0916\u0930\u0940\u0926 \u0938\u0947 \u0928\u0939\u0940\u0902\u0964 \u0907\u0938\u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0938\u0924\u0930\u094d\u0915 \u0930\u0939\u0928\u0947 \u0915\u0940 \u0906\u0935\u0936\u094d\u092f\u0915\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939 \u090f\u0915 \u092c\u0941\u0932 \u091f\u094d\u0930\u0948\u092a \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0906\u092a \u092b\u0902\u0938 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902, \u090a\u092a\u0930 \u0915\u0940 \u0924\u093e\u0932\u093f\u0915\u093e \u0915\u0940 \u0924\u0940\u0938\u0930\u0940 \u092a\u0902\u0915\u094d\u0924\u093f \u0915\u0939\u0924\u0940 \u0939\u0948, \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092e\u0947\u0902 \u0935\u0943\u0926\u094d\u0927\u093f \u0915\u0947 \u0938\u093e\u0925 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0915\u092e\u0940 \u2013 \u090f\u0915 \u092e\u0902\u0926\u0940 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u091c\u0917\u093e\u0924\u0940 \u0939\u0948\u0964 \u0906\u092a \u0910\u0938\u093e \u0915\u094d\u092f\u094b\u0902 \u0938\u094b\u091a\u0924\u0947 \u0939\u0948\u0902? \u092e\u0942\u0932\u094d\u092f \u092e\u0947\u0902 \u0915\u092e\u0940 \u0938\u0947 \u0938\u0902\u0915\u0947\u0924 \u092e\u093f\u0932\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0938\u094d\u091f\u0949\u0915 \u092c\u0947\u091a \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092e\u0947\u0902 \u0935\u0943\u0926\u094d\u0927\u093f \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0915\u0940 \u0909\u092a\u0938\u094d\u0925\u093f\u0924\u093f \u0915\u094b \u0907\u0902\u0917\u093f\u0924 \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u090f\u0915 \u0938\u093e\u0925 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0940 \u0926\u094b\u0928\u094b\u0902 \u0918\u091f\u0928\u093e\u0913\u0902 (\u092e\u0942\u0932\u094d\u092f \u092e\u0947\u0902 \u0915\u092e\u0940 + \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092e\u0947\u0902 \u0935\u0943\u0926\u094d\u0927\u093f) \u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0938\u094d\u091f\u0949\u0915 \u092c\u0947\u091a \u0930\u0939\u093e \u0939\u0948\u0964 \u091a\u0942\u0902\u0915\u093f \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0939\u092e\u0947\u0936\u093e \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u0935\u093f\u0915\u0932\u094d\u092a \u091a\u0941\u0928\u0924\u0940 \u0939\u0948, \u0907\u0938\u0932\u093f\u090f \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0947 \u0905\u0935\u0938\u0930 \u0915\u094b \u0924\u0932\u093e\u0936\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u092f\u093e \u0926\u0942\u0938\u0930\u0947 \u0922\u0902\u0917 \u0938\u0947 \u0915\u0939\u0947\u0902 \u0924\u094b, \u091c\u092c \u092d\u0940 \u0906\u092a \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0947\u0902 \u0915\u093f \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0905\u091a\u094d\u091b\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a \u092d\u0940 \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0915\u0947 \u0938\u093e\u0925 \u092c\u0947\u091a \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "\u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902, \u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u091a\u094c\u0925\u0940 \u092a\u0902\u0915\u094d\u0924\u093f \u092e\u0947\u0902, \u091c\u0939\u093e\u0902, \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0914\u0930 \u0915\u0940\u092e\u0924 \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u0915\u092e\u0940 \u0906\u0924\u0940 \u0939\u0948, \u0935\u0939\u093e\u0901 \u0915\u094d\u092f\u093e \u0938\u0902\u0915\u0947\u0924 \u0939\u0948\u0902? \u0928\u093f\u092e\u094d\u0928\u0932\u093f\u0916\u093f\u0924 \u092c\u093e\u0924\u094b\u0902 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0940\u091c\u093f\u090f:", "\u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0938\u0939\u092d\u093e\u0917\u0940 \u092c\u0947\u091a \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "\u0915\u092e \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0939\u0948\u0964", "\u0938\u0930\u0932 \u0939\u0948, \u092f\u0926\u093f \u0935\u0947 \u092c\u0947\u091a \u0930\u0939\u0947 \u0925\u0947 \u0924\u094b \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092c\u0922\u093c\u0924\u093e \u0914\u0930 \u0918\u091f\u0924\u093e \u0928\u0939\u0940\u0902\u0964", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u091b\u094b\u091f\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0940 \u092c\u093f\u0915\u0935\u093e\u0932\u0940 \u0915\u0947 \u0915\u093e\u0930\u0923 \u0915\u0940\u092e\u0924 \u0915\u092e \u0939\u094b \u0930\u0939\u0940 \u0939\u0948, \u0914\u0930 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u092f\u0924 \u0928\u093f\u0935\u0947\u0936\u0915 (\u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u092a\u0922\u093c\u0947\u0902) \u0928\u0939\u0940\u0902 \u092c\u0947\u091a \u0930\u0939\u0947 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0938\u093e\u0935\u0927\u093e\u0928 \u0930\u0939\u0928\u0947 \u0915\u0940 \u0906\u0935\u0936\u094d\u092f\u0915\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939 \u090f\u0915 \u092c\u0947\u092f\u0930 \u091f\u094d\u0930\u0948\u092a \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0906\u0907\u090f \u0939\u092e \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u094b \u092b\u093f\u0930 \u0938\u0947 \u0926\u0947\u0916\u0947\u0902 \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0947 \u092a\u0930\u093f\u092a\u094d\u0930\u0947\u0915\u094d\u0937\u094d\u092f \u092e\u0947\u0902 \u0907\u0938\u0915\u094b \u0938\u092e\u091d\u0947\u0902\u0964 \u090f\u0915 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0907\u0938 \u0915\u093e\u0932\u094d\u092a\u0928\u093f\u0915 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u0940 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0930\u0947\u0902:", "\u0905\u092c \u0932\u094b \u0915\u0947 \u092a\u093e\u0938 \u0938\u092a\u094b\u0930\u094d\u091f \u0915\u0947 \u0938\u093e\u0925, \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0926\u0942\u0938\u0930\u0947 \u0926\u093f\u0928 \u092f\u093e\u0928\u0940 P2 (\u0928\u0940\u0932\u0940 \u0915\u0948\u0902\u0921\u0932) \u092a\u0930 \u0939\u093e\u0908 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0940 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0930\u0947\u0902\u0964 \u0906\u092a \u0907\u0938\u0938\u0947 \u0915\u094d\u092f\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902? \u0905\u0928\u0941\u092e\u093e\u0928 \u0915\u093e\u092b\u0940 \u0939\u0926 \u0924\u0915 \u0938\u094d\u092a\u0937\u094d\u091f \u0939\u0948 \u2013 \u0939\u093e\u0908 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0947 \u0938\u093e\u0925-\u0938\u093e\u0925 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c\u0928\u0947 \u0938\u0947 \u0939\u092e\u0947\u0902 \u092a\u0941\u0937\u094d\u091f\u093f \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u093f \u092c\u0921\u093c\u0947 \u092a\u093e\u0930\u094d\u091f\u093f\u0938\u093f\u092a\u0947\u0902\u091f \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u094b \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "\u0924\u094b \u0924\u0940\u0928 \u0938\u0902\u0915\u0947\u0924 \u092f\u093e\u0928\u0940 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915\u094d\u0938, S&R, \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u090f\u0915 \u0938\u093e\u0925 \u090f\u0915 \u0939\u0940 \u0915\u093e\u0930\u094d\u0930\u0935\u093e\u0908 \u092f\u093e\u0928\u0940 \u0932\u093e\u0902\u0917 \u0915\u0930\u0928\u0947 \u0915\u093e \u0938\u0941\u091d\u093e\u0935 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0938 \u0924\u0930\u0939 \u092f\u0939\u093e\u0901 \u090f\u0915 \u092c\u093e\u0924 \u0915\u0940 \u0924\u0940\u0928 \u0924\u0930\u0939 \u0938\u0947 \u092a\u0941\u0937\u094d\u091f\u093f \u0939\u094b \u0930\u0939\u0940 \u0939\u0948\u0964", "\u091c\u093f\u0938 \u092c\u093e\u0924 \u092a\u0930 \u092e\u0948\u0902 \u092f\u0939\u093e\u0901 \u091c\u094b\u0930 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092c\u0939\u0941\u0924 \u0936\u0915\u094d\u0924\u093f\u0936\u093e\u0932\u0940 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0915\u093e\u0930\u0923 \u092f\u0939 \u090f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091a\u0940\u091c \u0939\u0948 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0947 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092e\u0947\u0902 \u0936\u093e\u092e\u093f\u0932 \u0915\u093f\u092f\u093e \u091c\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0907\u0938\u0915\u094b \u091c\u094b\u0921\u093c \u0915\u0930 \u0905\u092c \u0928\u0908 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0910\u0938\u0940 \u0926\u093f\u0916\u0924\u0940 \u0939\u0948:", "", "\u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u0938\u092e\u094d\u092c\u0902\u0927\u093f\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u094b \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0938\u093e\u091d\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092c\u0939\u0941\u0924 \u092c\u0939\u0941\u0924 \u0938\u093e\u0927\u0941\u0935\u093e\u0926!!! \u092f\u0939 \u092a\u094d\u0930\u092f\u093e\u0938 \u0932\u093e\u0916\u094b\u0902 \u0939\u093f\u0902\u0926\u0940 \u092d\u093e\u0937\u093f\u092f\u094b\u0902 \u0915\u094b \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0915\u0930 \u0909\u0928\u094d\u0939\u0947\u0902 \u0906\u0915\u0930\u094d\u0937\u093f\u0924 \u0915\u0930\u0947\u0917\u093e\u0964 \u0915\u0941\u091b \u0938\u0941\u091d\u093e\u0935\u2014\n01. Zerodha Varasity \u0915\u0947 \u092e\u094b\u092c\u093e\u0907\u0932 app \u092e\u0947\u0902 \u092d\u0940 \u0939\u093f\u0902\u0926\u0940 \u092d\u093e\u0937\u093e \u0915\u0940 \u0938\u0941\u0935\u093f\u0927\u093e \u0926\u0940 \u091c\u093e\u090f\u0964\n02. Zerodha kite \u0915\u093e user manual \u0935\u093f\u0936\u0947\u0937\u0915\u0930 \u091a\u093e\u0930\u094d\u091f \u0924\u0915\u0928\u0940\u0915 \u092a\u0930 \u0935\u0943\u0939\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0926\u093f\u092f\u093e \u091c\u093e\u090f\u0964\n \u0927\u0928\u094d\u092f\u0935\u093e\u0926", "\u0938\u0941\u091d\u093e\u0935 \u0926\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964 \u0939\u092e \u0907\u0938 \u092a\u0930 \u0928\u095b\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947 \u0905\u0917\u0930 \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0907\u0938\u0947 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u093e\u092f\u093e \u0917\u092f\u093e \u0924\u094b\u0939 \u0939\u092e \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0930\u0942\u092a \u0938\u0947 \u0906\u092a\u0915\u094b \u0906\u0918\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \ud83d\ude42", "sir, ye badta volume or ghatta volume, market depth ko dekh kr ya volume bar ko dekh kr faisla krna hai.", "Hi Dipak, \u0906\u092a \u092e\u093e\u0930\u094d\u0915\u093f\u091f \u0921\u0947\u092a\u094d\u0925 \u0914\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092c\u093e\u0930 \u0915\u0947 \u092e\u093e\u0927\u094d\u092f\u092e \u0938\u0947 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u0940 \u091c\u093e\u0902\u091a \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "Sir please give name of indicator which can drawn on Volume bar for moving average. Varsity is fantastic. I am learning mostly here. Thanks Zerodha.", "Moving Average itself, instead of plotting it in the price charts you plot it in the volume bars. Happy learning \ud83d\ude42", "sir,\nVolume pettern chart or every day volume or last ten day volumes kaha per dekhe ja sakte ha.\nPls help me", "\u0906\u092a \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0914\u0930 \u091a\u093e\u0930\u094d\u091f\u094d\u0938 kite \u090f\u092a\u094d\u0932\u0940\u0915\u0947\u0936\u0928 \u092e\u0947\u0902 kite \u091a\u093e\u0930\u094d\u091f\u094d\u0938 \u092a\u0930 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "kaise dekh sakte hai\u2026..kya process hai uske liye", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch12-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch12-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch12-chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch12-chart3.jpg", "https://secure.gravatar.com/avatar/3caade1330a932809a2f5bd9c42a94a5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/44c407512d5867b4916d3f1f9b09f52c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b04c507e3a0b7910d87ceec952e1ac36?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e6e286de189256cb4a07181e9f89fd5f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/36ed637a02ed77afc5fa0ef4e1544d7d?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e \u0938\u0902</th>\n<th>\u0938\u092e\u092f</th>\n<th>\u0916\u0930\u0940\u0926 \u0938\u0902\u0916\u094d\u092f\u093e</th>\n<th>\u092c\u093f\u0915\u094d\u0930\u0940 \u0938\u0902\u0916\u094d\u092f\u093e</th>\n<th>\u0915\u0940\u092e\u0924</th>\n<th>\u0935\u0949\u0932\u094d\u092f\u0942\u092e</th>\n<th>\u092c\u0922\u093c\u0924\u093e \u0915\u0941\u0932 \u0935\u0949\u0932\u094d\u092f\u0942\u092e</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>9:30 AM</td>\n<td>400</td>\n<td>400</td>\n<td>62.2</td>\n<td>400</td>\n<td>400</td>\n</tr>\n<tr>\n<td>2</td>\n<td>10.30 AM</td>\n<td>500</td>\n<td>500</td>\n<td>62.75</td>\n<td>500</td>\n<td>900</td>\n</tr>\n<tr>\n<td>3</td>\n<td>11:30 AM</td>\n<td>350</td>\n<td>350</td>\n<td>63.1</td>\n<td>350</td>\n<td>1,250</td>\n</tr>\n<tr>\n<td>4</td>\n<td>12:30 PM</td>\n<td>150</td>\n<td>150</td>\n<td>63.5</td>\n<td>150</td>\n<td>1,400</td>\n</tr>\n<tr>\n<td>5</td>\n<td>1:30 PM</td>\n<td>625</td>\n<td>625</td>\n<td>63.75</td>\n<td>625</td>\n<td>2,025</td>\n</tr>\n<tr>\n<td>6</td>\n<td>2:30 PM</td>\n<td>475</td>\n<td>475</td>\n<td>64.2</td>\n<td>475</td>\n<td>2,500</td>\n</tr>\n<tr>\n<td>7</td>\n<td>3:30 PM</td>\n<td>800</td>\n<td>800</td>\n<td>64.5</td>\n<td>800</td>\n<td>3,300</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e \u0938\u0902</th>\n<th>\u0915\u0940\u092e\u0924</th>\n<th>\u0935\u0949\u0932\u094d\u092f\u0942\u092e</th>\n<th>\u0906\u0917\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>\u092c\u0922\u093c\u0924</td>\n<td>\u092c\u0922\u093c\u0924</td>\n<td>\u092c\u0941\u0932\u093f\u0936</td>\n</tr>\n<tr>\n<td>2</td>\n<td>\u092c\u0922\u093c\u0924</td>\n<td>\u0917\u093f\u0930\u093e\u0935\u091f</td>\n<td>\u0938\u093e\u0935\u0927\u093e\u0928-\u0916\u0930\u0940\u0926\u093e\u0930\u0940 \u092e\u0947\u0902 \u0926\u092e \u0928\u0939\u0940\u0902</td>\n</tr>\n<tr>\n<td>3</td>\n<td>\u0917\u093f\u0930\u093e\u0935\u091f</td>\n<td>\u092c\u0922\u093c\u0924</td>\n<td>\u092c\u0947\u092f\u0930\u093f\u0936</td>\n</tr>\n<tr>\n<td>4</td>\n<td>\u0917\u093f\u0930\u093e\u0935\u091f</td>\n<td>\u0917\u093f\u0930\u093e\u0935\u091f</td>\n<td>\u0938\u093e\u0935\u0927\u093e\u0928-\u092c\u093f\u0915\u0935\u093e\u0932\u0940 \u092e\u0947\u0902 \u0926\u092e \u0928\u0939\u0940\u0902</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "13. \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c", "text": ["\u0939\u092e \u0938\u092c \u0928\u0947 \u0938\u094d\u0915\u0942\u0932 \u092e\u0947\u0902 \u0914\u0938\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u0940\u0916\u093e \u0939\u0948, \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0909\u0938\u0940 \u0915\u093e \u090f\u0915 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0939\u0948\u0964 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0938\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u092a\u0924\u093e \u091a\u0932\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0905\u0915\u094d\u0938\u0930 \u0909\u0928\u0915\u0940 \u0938\u093e\u0926\u0917\u0940 \u0914\u0930 \u092a\u094d\u0930\u092d\u093e\u0935\u0936\u0940\u0932\u0924\u093e \u0915\u0947 \u0915\u093e\u0930\u0923 \u0907\u0928\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u093f \u0939\u092e \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0938\u0940\u0916\u0947\u0902, \u0906\u0907\u090f \u0939\u092e \u091c\u0932\u094d\u0926\u0940 \u0930\u093f\u0915\u0948\u092a \u0938\u0947 \u0926\u094b\u0939\u0930\u093e \u0932\u0947\u0902 \u0915\u093f \u0914\u0938\u0924 \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0948\u0938\u0947 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "", "\u092e\u093e\u0928 \u0932\u0947\u0902 \u0915\u093f 5 \u0932\u094b\u0917 \u0938\u092e\u0941\u0926\u094d\u0930 \u0924\u091f \u092a\u0930 \u0927\u0942\u092a \u092e\u0947\u0902 \u092c\u0948\u0920\u0947 \u0939\u0948\u0902 \u0914\u0930 \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0920\u0902\u0921\u0947 \u0936\u0930\u092c\u0924 \u0915\u093e \u0906\u0928\u0902\u0926 \u0932\u0947 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0917\u0930\u094d\u092e\u0940 \u0907\u0924\u0928\u0940 \u0939\u0948 \u0915\u093f \u0909\u0928\u092e\u0947\u0902 \u0938\u0947 \u0939\u0930 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0915\u0908 \u092c\u094b\u0924\u0932\u0947\u0902 \u0938\u092e\u093e\u092a\u094d\u0924 \u0915\u0930 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0905\u0902\u0924\u093f\u092e \u0917\u0923\u0928\u093e \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u092e\u093e\u0928\u0947\u0902:", "\u0905\u092c \u092e\u093e\u0928 \u0932\u0947\u0902 \u0915\u093f \u090f\u0915 6\u0935\u093e\u0901 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0935\u0939\u093e\u0901 \u0906\u0924\u093e \u0939\u0948 \u0914\u0930 \u0935\u0939\u093e\u0901 \u092c\u093f\u0916\u0930\u0940 \u092a\u0921\u093c\u0940 29 \u092c\u094b\u0924\u0932\u094b\u0902 \u0915\u094b \u0926\u0947\u0916\u0915\u0930 \u092f\u0947 \u091c\u093e\u0928\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0939\u0930 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0928\u0947 \u0915\u093f\u0924\u0928\u0940 \u092c\u094b\u0924\u0932 \u092a\u0940\u0964 \u0935\u0939 \u091c\u0932\u094d\u0926\u0940 \u0938\u0947 \u0932\u094b\u0917\u094b\u0902 \u0915\u0940 \u0915\u0941\u0932 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u094b \u0915\u0941\u0932 \u092c\u094b\u0924\u0932\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u0947 \u0935\u093f\u092d\u093e\u091c\u093f\u0924 \u0915\u0930\u0915\u0947 \u092f\u0947 \u0938\u0902\u0916\u094d\u092f\u093e \u0928\u093f\u0915\u093e\u0932\u0924\u093e \u0939\u0948, \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092f\u0939 \u0917\u0923\u0928\u093e \u0939\u094b\u0917\u0940 : = 29/5 = 5.8 \u092c\u094b\u0924\u0932\u0947\u0902 \u092a\u094d\u0930\u0924\u093f \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0964 \u0924\u094b, \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u0914\u0938\u0924 \u0939\u092e\u0947\u0902 \u092e\u094b\u091f\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092a\u094d\u0930\u0924\u094d\u092f\u0947\u0915 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0928\u0947 \u0915\u093f\u0924\u0928\u0940 \u092c\u094b\u0924\u0932\u0947\u0902 \u092a\u0940 \u0925\u0940\u0902\u0964 \u091c\u093e\u0939\u093f\u0930 \u0939\u0948 \u0915\u093f \u0909\u0928\u092e\u0947\u0902 \u0938\u0947 \u0915\u0941\u091b \u0910\u0938\u0947 \u0939\u094b\u0902\u0917\u0947 \u091c\u093f\u0928\u094d\u0939\u094b\u0902\u0928\u0947 \u0914\u0938\u0924 \u0938\u0947 \u090a\u092a\u0930 \u0914\u0930 \u0915\u0941\u091b \u0928\u0947 \u0914\u0938\u0924 \u0938\u0947 \u0928\u0940\u091a\u0947 \u0909\u092a\u092d\u094b\u0917 \u0915\u093f\u092f\u093e \u0939\u094b\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u0935\u094d\u092f\u0915\u094d\u0924\u093f E \u0928\u0947 \u092a\u0947\u092f \u0915\u0940 8 \u092c\u094b\u0924\u0932\u0947\u0902 \u092a\u0940, \u091c\u094b \u0915\u093f 5.8 \u092c\u094b\u0924\u0932\u094b\u0902 \u0915\u0947 \u0914\u0938\u0924 \u0938\u0947 \u090a\u092a\u0930 \u0939\u0948\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939, \u0935\u094d\u092f\u0915\u094d\u0924\u093f D \u0928\u0947 \u0938\u093f\u0930\u094d\u092b 3 \u092c\u094b\u0924\u0932 \u092a\u0947\u092f \u092a\u093f\u092f\u093e, \u091c\u094b \u0915\u093f 5.8 \u092c\u094b\u0924\u0932\u094b\u0902 \u0915\u0947 \u0914\u0938\u0924 \u0938\u0947 \u0928\u0940\u091a\u0947 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0914\u0938\u0924 \u0915\u0947\u0935\u0932 \u090f\u0915 \u0905\u0928\u0941\u092e\u093e\u0928 \u0939\u0948 \u0914\u0930 \u0915\u094b\u0908 \u092d\u0940 \u0907\u0938\u0915\u0947 \u0938\u091f\u0940\u0915 \u0939\u094b\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0928\u0939\u0940\u0902 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u0940 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0915\u094b \u0906\u0917\u0947 \u092c\u0922\u093c\u093e\u0924\u0947 \u0939\u0948\u0902\u2013 \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902, \u092a\u093f\u091b\u0932\u0947 5 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u0924\u094d\u0930\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f ITC \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u0938\u092e\u093e\u092a\u0928 \u092e\u0942\u0932\u094d\u092f \u0926\u093f\u090f \u0917\u090f \u0939\u0948\u0902\u0964 \u0907\u0928\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930, \u092a\u093f\u091b\u0932\u0947 5 \u0926\u093f\u0928 \u0915\u0940 \u0914\u0938\u0924 \u0917\u0923\u0928\u093e \u0928\u093f\u092e\u094d\u0928\u093e\u0928\u0941\u0938\u093e\u0930 \u0915\u0940 \u091c\u093e\u090f\u0917\u0940:", "= 1719.75 / 5 = 343.95", "\u0907\u0938\u0932\u093f\u090f \u092a\u093f\u091b\u0932\u0947 5 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0938\u0924\u094d\u0930\u094b\u0902 \u092e\u0947\u0902 ITC \u0915\u093e \u0914\u0938\u0924 \u092c\u0902\u0926 \u092d\u093e\u0935 343.95 \u0939\u0948\u0964", "\u0905\u092c \u090f\u0915 \u0928\u090f \u0909\u0926\u093e\u0939\u0930\u0923 \u092a\u0930 \u0935\u093f\u091a\u093e\u0930 \u0915\u0930\u0947\u0902 \u091c\u0939\u093e\u0902 \u0906\u092a \u092a\u093f\u091b\u0932\u0947 5 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092e\u0948\u0930\u093f\u0915\u094b \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u0914\u0938\u0924 \u092c\u0902\u0926 \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0921\u093e\u091f\u093e \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u0939\u0948:", "= 1212.3 / 5", "= 242.5", "\u0907\u0938\u0932\u093f\u090f \u092a\u093f\u091b\u0932\u0947 5 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0938\u0924\u094d\u0930\u094b\u0902 \u092e\u0947\u0902 \u092e\u0948\u0930\u093f\u0915\u094b \u0915\u093e \u0914\u0938\u0924 \u0938\u092e\u093e\u092a\u0928 \u092e\u0942\u0932\u094d\u092f 242.5 \u0939\u0948\u0964", "\u0905\u092c \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902, \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u092f\u093e\u0928\u0940 28 \u091c\u0941\u0932\u093e\u0908 (26 \u0914\u0930 27 \u0915\u094b \u0915\u094d\u0930\u092e\u0936\u0903 \u0936\u0928\u093f\u0935\u093e\u0930 \u0914\u0930 \u0930\u0935\u093f\u0935\u093e\u0930 \u0925\u0947) \u0939\u092e\u093e\u0930\u0947 \u092a\u093e\u0938 \u090f\u0915 \u0928\u092f\u093e \u0921\u093e\u091f\u093e \u0939\u0948\u0964 \u092e\u0924\u0932\u092c \u0905\u092c \u0928\u090f 5 \u0926\u093f\u0928 \u0939\u0948\u0902\u2013 \u00a022, 23, 24, 25 \u0914\u0930 28 \u0964 \u0939\u092e 21 \u0924\u093e\u0930\u0940\u0916 \u0915\u0947 \u0921\u093e\u091f\u093e \u0915\u094b \u091b\u094b\u0921\u093c \u0926\u0947\u0902\u0917\u0947 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0939\u092e\u093e\u0930\u093e \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f \u0928\u0935\u0940\u0928\u0924\u092e 5 \u0926\u093f\u0928 \u0915\u0947 \u0914\u0938\u0924 \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u093e \u0939\u0948\u0964", "= 244.66 = 1223.3 / 5", "\u0907\u0938\u0932\u093f\u090f \u092a\u093f\u091b\u0932\u0947 5 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0938\u0924\u094d\u0930\u094b\u0902 \u092e\u0947\u0902 \u092e\u0948\u0930\u093f\u0915\u094b \u0915\u093e \u0914\u0938\u0924 \u0938\u092e\u093e\u092a\u0928 \u092e\u0942\u0932\u094d\u092f 244.66 \u0939\u0948\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0939\u092e\u0928\u0947 5 \u0926\u093f\u0928 \u0915\u0947 \u0914\u0938\u0924 \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0928\u0935\u0940\u0928\u0924\u092e \u0921\u093e\u091f\u093e (28 \u091c\u0941\u0932\u093e\u0908) \u0915\u094b \u0936\u093e\u092e\u093f\u0932 \u0915\u093f\u092f\u093e \u0939\u0948, \u0914\u0930 \u0938\u092c\u0938\u0947 \u092a\u0941\u0930\u093e\u0928\u0947 \u0921\u093e\u091f\u093e (21 \u091c\u0941\u0932\u093e\u0908) \u0915\u094b \u091b\u094b\u0921\u093c \u0926\u093f\u092f\u093e \u0939\u0948\u0964 29 \u0924\u093e\u0930\u0940\u0916 \u0915\u094b, \u0939\u092e 29 \u0915\u093e \u0921\u093e\u091f\u093e \u0936\u093e\u092e\u093f\u0932 \u0915\u0930\u0947\u0902\u0917\u0947 \u0914\u0930 22 \u0915\u0947 \u0921\u093e\u091f\u093e \u0915\u094b \u092c\u093e\u0939\u0930 \u0915\u0930 \u0926\u0947\u0902\u0917\u0947, 30 \u0924\u093e\u0930\u0940\u0916 \u0915\u094b \u0939\u092e 30 \u0915\u0947 \u0921\u093e\u091f\u093e \u0915\u094b \u0936\u093e\u092e\u093f\u0932 \u0915\u0930\u0947\u0902\u0917\u0947, \u0932\u0947\u0915\u093f\u0928 23 \u0915\u0947 \u0921\u093e\u091f\u093e \u0915\u094b \u0939\u091f\u093e \u0926\u0947\u0902\u0917\u0947\u0964", "\u0924\u094b \u0939\u0930 \u092c\u093e\u0930, \u0939\u092e \u0928\u0935\u0940\u0928\u0924\u092e \u0921\u093e\u091f\u093e \u092a\u0930 \u091c\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0928\u0935\u0940\u0928\u0924\u092e 5 \u0926\u093f\u0928 \u0915\u0947 \u0914\u0938\u0924 \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u092c\u0938\u0947 \u092a\u0941\u0930\u093e\u0928\u0947 \u0915\u094b \u091b\u094b\u0921\u093c \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0932\u093f\u090f \u0928\u093e\u092e \u201c\u092e\u0942\u0935\u093f\u0902\u0917\u201d \u090f\u0935\u0930\u0947\u091c !", "\u0909\u092a\u0930\u094b\u0915\u094d\u0924 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902, \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0940 \u0917\u0923\u0928\u093e \u092c\u0902\u0926 \u0915\u0940\u092e\u0924(\u0915\u094d\u0932\u094b\u091c) \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0939\u0948\u0964 \u0915\u092d\u0940-\u0915\u092d\u0940, \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0940 \u0917\u0923\u0928\u093e \u0905\u0928\u094d\u092f \u092e\u093e\u092a\u0926\u0902\u0921\u094b\u0902 \u091c\u0948\u0938\u0947 \u0939\u093e\u0908, \u0932\u094b \u0914\u0930 \u0913\u092a\u0928 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0915\u0947 \u092d\u0940 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0939\u093e\u0932\u093e\u0901\u0915\u093f \u091c\u094d\u092f\u093e\u0926\u093e\u0924\u0930 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0914\u0930 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u094d\u0932\u094b\u091c \u0915\u093e \u0939\u0940 \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939 \u0909\u0938 \u0915\u0940\u092e\u0924 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948 \u091c\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u093e\u091c\u093e\u0930 \u0905\u0902\u0924 \u092e\u0947\u0902 \u0930\u0942\u0915\u0924\u093e \u0939\u0948\u0964", "\u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0940 \u0917\u0923\u0928\u093e \u092e\u093f\u0928\u091f\u094b\u0902, \u0918\u0902\u091f\u094b\u0902 \u0938\u0947 \u0932\u0947\u0915\u0930 \u0935\u0930\u094d\u0937\u094b\u0902 \u0924\u0915 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u092e\u092f \u0938\u0940\u092e\u093e \u0915\u0947 \u0932\u093f\u090f \u0915\u0940 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0905\u092a\u0928\u0940 \u0906\u0935\u0936\u094d\u092f\u0915\u0924\u093e\u0913\u0902 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0938\u0947 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u092e\u092f \u0938\u0940\u092e\u093e \u0915\u093e \u091a\u092f\u0928 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915\u094d\u0938\u0947\u0932 \u0938\u0947 \u092a\u0930\u093f\u091a\u093f\u0924 \u0932\u094b\u0917\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f, \u092f\u0939\u093e\u0902 \u092c\u0924\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u0915\u093f \u090f\u092e\u090f\u0938 \u090f\u0915\u094d\u0938\u0947\u0932 (MS Excel) \u092a\u0930 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0948\u0938\u0947 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u092f\u0939 \u0938\u094d\u092a\u0937\u094d\u091f \u0939\u0948, \u091c\u092c \u0915\u094d\u0932\u094b\u091c\u093c \u0915\u0940\u092e\u0924 \u092c\u0926\u0932\u0924\u0940 \u0939\u0948 \u0924\u092c \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u092c\u0926\u0932\u0924\u093e \u0939\u0948\u0964 \u090a\u092a\u0930 \u0915\u0940 \u0917\u0908 \u0917\u0923\u0928\u093e \u0915\u094b \u2018\u0938\u093f\u0902\u092a\u0932 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c\u2019 (SMA) \u092d\u0940 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091a\u0942\u0902\u0915\u093f \u0939\u092e \u0907\u0938\u0947 \u0928\u0935\u0940\u0928\u0924\u092e 5 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0915\u0947 \u0905\u0928\u0941\u0938\u093e\u0930 \u0917\u0923\u0928\u093e \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0947 5 \u0926\u093f\u0928 SMA \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u0915\u0947 \u092c\u093e\u0926, 5 \u0926\u093f\u0928 \u0915\u0947 \u0907\u0938 \u0914\u0938\u0924 (\u092f\u093e \u092f\u0939 5, 10, 50, 100, 200 \u0926\u093f\u0928\u094b\u0902 \u0915\u0940 \u0924\u0930\u0939 \u0915\u0941\u091b \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948) \u0915\u094b \u090f\u0915 \u0930\u0947\u0916\u093e \u0938\u0947 \u091c\u094b\u0921\u093c\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0932\u093e\u0907\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u092f\u0939 \u0930\u0947\u0916\u093e \u0938\u092e\u092f \u092c\u0922\u093c\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902, \u092e\u0948\u0902\u0928\u0947 ACC \u0915\u0947 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0917\u094d\u0930\u093e\u092b \u092a\u0930 5 \u0926\u093f\u0928 \u0915\u093e SMA \u092c\u0928\u093e\u092f\u093e \u0939\u0948\u0964", "", "\u0924\u094b \u090f\u0915 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u094d\u092f\u093e \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0948\u0938\u0947 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902? \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0947 \u0915\u0908 \u092a\u094d\u0930\u092f\u094b\u0917 \u0939\u0948\u0902 \u0914\u0930 \u091c\u0932\u094d\u0926\u0940 \u0939\u0940 \u092e\u0948\u0902 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u090f\u0915 \u0938\u0930\u0932 \u0924\u0930\u0940\u0915\u093e \u092a\u0947\u0936 \u0915\u0930\u0942\u0902\u0917\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0938\u0947 \u092a\u0939\u0932\u0947, \u091a\u0932\u093f\u090f \u090f\u0915\u094d\u0938\u092a\u094b\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0947\u0902\u0964", "13.2 \u2013 \u090f\u0915\u094d\u0938\u092a\u094b\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c (The Exponential Moving Average)", "\u0907\u0938 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0909\u092a\u092f\u094b\u0917 \u0915\u093f\u090f \u0917\u090f \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u092a\u0930 \u0935\u093f\u091a\u093e\u0930 \u0915\u0930\u0947\u0902,", "", "\u091c\u092c \u0915\u094b\u0908 \u0907\u0928 \u0928\u0902\u092c\u0930\u094b\u0902 \u092a\u0930 \u0914\u0938\u0924 \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0924\u093e \u0939\u0948 \u0924\u094b \u090f\u0915 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0915\u093f \u092a\u094d\u0930\u0924\u094d\u092f\u0947\u0915 \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941 \u0915\u093e \u092e\u0939\u0924\u094d\u0935 \u090f\u0915 \u0938\u092e\u093e\u0928 \u0939\u0948\u0964 \u092e\u0924\u0932\u092c, \u0939\u092e \u092f\u0939 \u092e\u093e\u0928 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f 22 \u091c\u0941\u0932\u093e\u0908 \u0915\u093e \u0921\u093e\u091f\u093e \u0909\u0924\u0928\u093e \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u0948 \u091c\u093f\u0924\u0928\u093e \u0915\u093f 28 \u091c\u0941\u0932\u093e\u0908 \u0915\u093e \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f, \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092f\u0939 \u0939\u092e\u0947\u0936\u093e \u0938\u091a \u0928\u0939\u0940\u0902 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0924\u0915\u0928\u0940\u0915\u0940 \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u0940 \u092e\u0942\u0932 \u0927\u093e\u0930\u0923\u093e \u0915\u094b \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u2013 \u092c\u093e\u091c\u093e\u0930 \u0938\u092c \u0915\u0941\u091b \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0915\u0930 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0928\u0935\u0940\u0928\u0924\u092e \u0915\u0940\u092e\u0924 (28 \u091c\u0941\u0932\u093e\u0908 \u0915\u094b) \u092e\u0947\u0902 \u092c\u093e\u091c\u093c\u093e\u0930 \u0938\u092d\u0940 \u091c\u094d\u091e\u093e\u0924 \u0914\u0930 \u0905\u091c\u094d\u091e\u093e\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u094b \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0915\u0930 \u091a\u0941\u0915\u093e \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u092f\u0939 \u092d\u0940 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948 \u0915\u093f 28 \u0924\u093e\u0930\u0940\u0916 \u0915\u0940 \u0915\u0940\u092e\u0924 25 \u0935\u0940\u0902 \u0924\u093e\u0930\u0940\u0916 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u0905\u0927\u093f\u0915 \u092d\u0930\u094b\u0938\u0947\u092e\u0902\u0926 \u0939\u0948\u0964", "\u0907\u0938\u0932\u093f\u090f, \u0921\u093e\u091f\u093e \u0915\u0947 \u2018\u0928\u092f\u0947\u092a\u0928\u2019 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u092e\u0939\u0924\u094d\u0935 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0907\u0938\u0932\u093f\u090f 28 \u091c\u0941\u0932\u093e\u0908 \u0915\u0947 \u0921\u093e\u091f\u093e \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0915\u094b \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0939\u0924\u094d\u0935 \u092e\u093f\u0932\u0924\u093e \u0939\u0948, 25 \u091c\u0941\u0932\u093e\u0908 \u0915\u094b \u0905\u0917\u0932\u093e \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0935\u0947\u091f\u0947\u091c \u092e\u093f\u0932\u0924\u093e \u0939\u0948, 24 \u091c\u0941\u0932\u093e\u0908 \u0915\u094b \u0924\u0940\u0938\u0930\u093e \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0935\u0947\u091f\u0947\u091c \u092e\u093f\u0932\u0924\u093e \u0939\u0948, \u0914\u0930 \u0907\u0938\u0940 \u0924\u0930\u0939 \u092f\u0947 \u0938\u093f\u0932\u0938\u093f\u0932\u093e \u091a\u0932\u0924\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964", "\u0910\u0938\u093e \u0915\u0930\u0915\u0947, \u092e\u0948\u0902\u0928\u0947 \u0928\u092f\u0947\u092a\u0928 \u0915\u0947 \u0905\u0928\u0941\u0938\u093e\u0930 \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u0947 \u092e\u0939\u0924\u094d\u0935 \u0915\u094b \u092c\u0922\u093c\u093e\u092f\u093e \u0939\u0948 \u2013 \u0928\u0935\u0940\u0928\u0924\u092e \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941 \u0915\u094b \u0905\u0927\u093f\u0915\u0924\u092e \u0927\u094d\u092f\u093e\u0928 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0938\u092c\u0938\u0947 \u092a\u0941\u0930\u093e\u0928\u0947 \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941 \u0915\u094b \u0915\u092e \u0938\u0947 \u0915\u092e \u0927\u094d\u092f\u093e\u0928 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0938\u0902\u0916\u094d\u092f\u093e\u0913\u0902 \u0915\u0947 \u092e\u0939\u0924\u094d\u0935 \u092f\u093e \u0935\u0947\u091f\u0947\u091c \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092c\u0928\u0947 \u0907\u0938 \u0938\u094d\u0915\u0947\u0932 \u092a\u0930 \u0915\u0940 \u0917\u092f\u0940 \u0917\u0923\u0928\u093e \u0938\u0947 \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0914\u0938\u0924 \u0939\u092e\u0947\u0902 \u090f\u0915\u094d\u0938\u092a\u094b\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c (EMA) \u092a\u094d\u0930\u0926\u093e\u0928 \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u092e\u0948\u0902\u0928\u0947 \u091c\u093e\u0928\u092c\u0942\u091d\u0915\u0930 EMA \u0917\u0923\u0928\u093e \u092d\u093e\u0917 \u0915\u094b \u091b\u094b\u0921\u093c \u0926\u093f\u092f\u093e,\u00a0 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0905\u0927\u093f\u0915\u093e\u0902\u0936 \u0924\u0915\u0928\u0940\u0915\u0940 \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u092e\u0947\u0902 \u0939\u092e\u0947\u0902 EMA \u0915\u094b \u0915\u0940\u092e\u0924\u094b\u0902 \u092a\u0930 \u0916\u0940\u0902\u091a\u0928\u0947 \u0915\u0940 \u0938\u0941\u0935\u093f\u0927\u093e \u092e\u093f\u0932 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0939\u092e \u0907\u0938\u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0948\u0938\u0947 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902- \u092f\u0947 \u0938\u0940\u0916\u0928\u0947 \u0915\u0947 \u092c\u091c\u093e\u092f EMA \u0915\u0947 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0915\u0947\u0902\u0926\u094d\u0930\u093f\u0924 \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u092f\u0939\u093e\u0901 \u0938\u093f\u092a\u094d\u0932\u093e \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u093e \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u0939\u0948\u0964 \u092e\u0948\u0902\u0928\u0947 \u0938\u093f\u092a\u094d\u0932\u093e \u0915\u0947 \u0938\u092e\u093e\u092a\u0928 \u092e\u0942\u0932\u094d\u092f\u094b\u0902 \u092a\u0930 \u090f\u0915 50 \u0926\u093f\u0928 SMA (\u0915\u093e\u0932\u093e) \u0914\u0930 50 \u0926\u093f\u0928 EMA (\u0932\u093e\u0932) \u092a\u094d\u0932\u0949\u091f \u0915\u093f\u092f\u093e \u0939\u0948\u0964 \u092f\u0926\u094d\u092f\u092a\u093f SMA \u0914\u0930 EMA \u0926\u094b\u0928\u094b\u0902 50 \u0926\u093f\u0928 \u0915\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0932\u093f\u090f \u0939\u0948\u0902, \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f EMA \u0915\u0940\u092e\u0924\u094b\u0902 \u0938\u0947 \u0905\u0927\u093f\u0915 \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0939\u094b \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u092f\u0939 \u0915\u0940\u092e\u0924 \u0915\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0915\u0930\u0940\u092c \u0939\u0948\u0964", "", "EMA \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f \u092a\u0930 \u0938\u092c\u0938\u0947 \u0924\u0947\u091c \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u094d\u092f\u094b\u0902 \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948? \u0915\u094d\u092f\u094b\u0902\u0915\u093f EMA \u0938\u092c\u0938\u0947 \u0928\u090f \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u0905\u0927\u093f\u0915 \u092e\u0939\u0924\u094d\u0935 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 EMA \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u091c\u0932\u094d\u0926\u0940 \u092b\u0948\u0938\u0932\u093e \u0932\u0947\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0915\u093e\u0930\u0923 \u0938\u0947, \u091f\u094d\u0930\u0947\u0921\u0930 SMA \u0915\u0947 \u092c\u091c\u093e\u092f EMA \u0915\u094b \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0938\u0939\u0940 \u092e\u094c\u0915\u0947 \u092a\u0930 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0914\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u091c\u092c \u0938\u094d\u091f\u0949\u0915 \u092e\u0942\u0932\u094d\u092f \u0905\u092a\u0928\u0947 \u0914\u0938\u0924 \u092e\u0942\u0932\u094d\u092f \u0938\u0947 \u090a\u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0924\u093e \u0939\u0948, \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0909\u0938\u0915\u0940 \u0914\u0938\u0924 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0905\u0927\u093f\u0915 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0948 \u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u093e \u092e\u0942\u0932\u094d\u092f \u092c\u0922\u0947\u0917\u093e\u0964 \u0907\u0938\u0932\u093f\u090f \u0910\u0938\u0947 \u0905\u0935\u0938\u0930\u094b\u0902 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0939, \u091c\u092c \u0938\u094d\u091f\u0949\u0915 \u092e\u0942\u0932\u094d\u092f \u0905\u092a\u0928\u0947 \u0914\u0938\u0924 \u092e\u0942\u0932\u094d\u092f \u0938\u0947 \u0928\u0940\u091a\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0924\u093e \u0939\u0948, \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092a\u0928\u0947 \u0914\u0938\u0924 \u092e\u0942\u0932\u094d\u092f \u0938\u0947 \u0915\u092e \u0915\u0940\u092e\u0924 \u092a\u0930 \u0938\u094d\u091f\u0949\u0915 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u092e\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0928\u0940\u091a\u0947 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0910\u0938\u0947 \u092e\u0947\u0902 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0905\u0935\u0938\u0930\u094b\u0902 \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0907\u0928 \u0928\u093f\u0937\u094d\u0915\u0930\u094d\u0937\u094b\u0902 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0939\u092e \u090f\u0915 \u0938\u0930\u0932 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u0935\u093f\u0915\u0938\u093f\u0924 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u0928\u093f\u092f\u092e\u094b\u0902 \u0915\u093e \u090f\u0915 \u0910\u0938\u093e \u0938\u092e\u0942\u0939 \u092e\u093e\u0928\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u091c\u094b \u0906\u092a\u0915\u094b \u090f\u0928\u094d\u091f\u094d\u0930\u0940 \u0914\u0930 \u090f\u0915\u094d\u091c\u093f\u091f \u0915\u0947 \u0938\u0939\u0940 \u0938\u092e\u092f \u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u0905\u092c \u0939\u092e 50 \u0926\u093f\u0928 \u0915\u0947 \u090f\u0915\u094d\u0938\u092a\u094b\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u090f\u0915 \u0910\u0938\u093e \u0939\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u092c\u0928\u093e\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0964 \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u090f\u0915 \u0905\u091a\u094d\u091b\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u0906\u092a\u0915\u094b \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u090f\u0928\u094d\u091f\u094d\u0930\u0940 \u0914\u0930 \u090f\u0915\u094d\u091c\u093f\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0939\u092e \u0928\u093f\u092e\u094d\u0928\u0932\u093f\u0916\u093f\u0924 \u0928\u093f\u092f\u092e\u094b\u0902 \u0915\u0947 \u0938\u093e\u0925 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u091f\u094d\u0930\u0947\u0921 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u0935\u093f\u0915\u0938\u093f\u0924 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902:", "\u0928\u093f\u092f\u092e 1) \u092e\u094c\u091c\u0942\u0926\u093e \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f \u092f\u093e\u0928\u0940 CMP \u0915\u0947 50 \u0926\u093f\u0928 EMA \u0938\u0947 \u0905\u0927\u093f\u0915 \u0939\u094b \u091c\u093e\u0928\u0947 \u092a\u0930 \u0916\u0930\u0940\u0926\u0947\u0902 (\u0932\u093e\u0902\u0917 \u0915\u0930\u0947\u0902)\u0964 \u090f\u0915 \u092c\u093e\u0930 \u091c\u092c \u0906\u092a \u0932\u093e\u0902\u0917 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a\u0915\u094b \u0924\u092c \u0924\u0915 \u0928\u093f\u0935\u0947\u0936\u093f\u0924 \u0930\u0939\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u091c\u092c \u0924\u0915 \u0915\u093f \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0928\u093f\u092f\u092e \u0915\u0940 \u0938\u0939\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0928\u093e \u0906 \u091c\u093e\u090f\u0964", "\u0928\u093f\u092f\u092e 2) \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f \u092f\u093e\u0928\u0940 CMP \u0915\u0947 50 \u0926\u093f\u0928 EMA \u0938\u0947 \u0915\u092e \u0939\u094b\u0928\u0947 \u092a\u0930 \u0932\u093e\u0902\u0917 \u0938\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932\u0947\u0902 (\u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930\u0947\u0902)\u0964", "\u092f\u0939\u093e\u0902 \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u0939\u0948 \u091c\u094b \u0905\u0902\u092c\u0941\u091c\u093e \u0938\u0940\u092e\u0947\u0902\u091f\u094d\u0938 \u092a\u0930 \u0907\u0938 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0947 \u092a\u094d\u0930\u092f\u094b\u0917 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 \u092a\u094d\u0930\u093e\u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0915\u093e\u0932\u0940 \u0930\u0947\u0916\u093e 50 \u0926\u093f\u0928 \u0915\u0940 EMA (\u090f\u0915\u094d\u0938\u092a\u094b\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c) \u0939\u0948\u0964", "", "\u092c\u093e\u090f\u0902 \u0938\u0947 \u0936\u0941\u0930\u0942 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092a\u0939\u0932\u093e \u0905\u0935\u0938\u0930 165 \u092a\u0930 \u0928\u091c\u093c\u0930 \u0906\u092f\u093e, \u091a\u093e\u0930\u094d\u091f \u092a\u0930\u00a0 B1 @ 165 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0907\u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0915\u093f, \u092c\u093f\u0902\u0926\u0941 B1 \u092a\u0930, \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u092a\u0928\u0947 50 \u0926\u093f\u0928 \u0915\u0947 EMA \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u090a\u092a\u0930 \u0939\u094b \u0917\u0908 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f, \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u092a\u0939\u0932\u0947 \u0928\u093f\u092f\u092e \u0915\u0947 \u0905\u0928\u0941\u0938\u093e\u0930, \u092f\u0939\u093e\u0901 \u0939\u092e \u090f\u0915 \u0928\u092f\u093e \u0932\u093e\u0902\u0917 \u092c\u0928\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0939\u0940 \u0939\u092e \u0924\u092c \u0924\u0915 \u0928\u093f\u0935\u0947\u0936\u093f\u0924 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u0924\u0915 \u0939\u092e\u0947\u0902 \u090f\u0915 \u090f\u0915\u094d\u091c\u093f\u091f \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u0928\u0939\u0940\u0902 \u092e\u093f\u0932 \u091c\u093e\u0924\u093e \u0939\u0948, \u091c\u094b \u0939\u092e\u0947\u0902 \u0905\u0902\u0924\u0924\u0903 187 \u092a\u0930 \u092e\u093f\u0932\u093e, \u091c\u093f\u0938\u0947 S1 @ 187 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u0938\u0947 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 22 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0932\u093e\u092d \u0939\u0941\u0906\u0964", "\u0932\u093e\u0902\u0917 \u091c\u093e\u0928\u0947 \u0915\u093e \u0905\u0917\u0932\u093e \u0938\u0902\u0915\u0947\u0924 B2 @ 178 \u092a\u0930 \u0906\u092f\u093e, \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 S2 @ 182 \u092a\u0930 \u0938\u094d\u0915\u094d\u0935\u093e\u092f\u0930 \u0911\u092b \u0915\u0930\u0928\u0947 \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u092e\u093f\u0932\u093e\u0964 \u092f\u0939 \u091f\u094d\u0930\u0947\u0921 \u0909\u0924\u0928\u093e \u092a\u094d\u0930\u092d\u093e\u0935\u0936\u093e\u0932\u0940 \u0928\u0939\u0940\u0902 \u0925\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u0938\u0947 \u092e\u0939\u091c 4 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0932\u093e\u092d \u0939\u0941\u0906\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0905\u0902\u0924\u093f\u092e \u091f\u094d\u0930\u0947\u0921, B3 @ 165, \u0914\u0930 S3 @ 215 \u0915\u093e\u092b\u0940 \u092a\u094d\u0930\u092d\u093e\u0935\u0936\u093e\u0932\u0940 \u0925\u0947, \u091c\u093f\u0938\u0915\u0947 \u092a\u0930\u093f\u0923\u093e\u092e\u0938\u094d\u0935\u0930\u0942\u092a 50 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0932\u093e\u092d \u0939\u0941\u0906\u0964", "\u092f\u0939\u093e\u0902 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0915\u093f\u090f \u0917\u090f \u0907\u0928 \u0938\u094c\u0926\u094b\u0902 \u0915\u093e \u0938\u093e\u0930\u093e\u0902\u0936 \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948:", "\u0909\u092a\u0930\u094b\u0915\u094d\u0924 \u0924\u093e\u0932\u093f\u0915\u093e \u0938\u0947, \u092f\u0939 \u092c\u0939\u0941\u0924 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u092a\u0939\u0932\u0947 \u0914\u0930 \u0905\u0902\u0924\u093f\u092e \u091f\u094d\u0930\u0947\u0921 \u0932\u093e\u092d\u0926\u093e\u092f\u0915 \u0925\u0947, \u0932\u0947\u0915\u093f\u0928 \u0926\u0942\u0938\u0930\u093e \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0907\u0924\u0928\u093e \u0932\u093e\u092d\u0926\u093e\u092f\u0915 \u0928\u0939\u0940\u0902 \u0925\u093e\u0964 \u092f\u0926\u093f \u0906\u092a \u0926\u0947\u0916\u0947\u0902 \u0939\u0948\u0902 \u0915\u093f \u0910\u0938\u093e \u0915\u094d\u092f\u094b\u0902 \u0939\u0941\u0906, \u0924\u094b \u092f\u0939 \u0926\u093f\u0916\u0947\u0917\u093e \u0939\u0948 \u0915\u093f \u091f\u094d\u0930\u0947\u0921 1 \u0914\u0930 3 \u0915\u0947 \u0926\u094c\u0930\u093e\u0928, \u0938\u094d\u091f\u0949\u0915 \u090f\u0915 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u091a\u0932 \u0930\u0939\u093e \u0925\u093e, \u0932\u0947\u0915\u093f\u0928 \u0926\u0942\u0938\u0930\u0947 \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0915\u0947 \u0926\u094c\u0930\u093e\u0928 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0926\u093f\u0936\u093e \u0938\u093e\u092b \u0928\u0939\u0940\u0902 \u0925\u0940 (\u0938\u093e\u0907\u0921\u0935\u0947\u091c \u0925\u093e)\u0964", "\u092f\u0939 \u0939\u092e\u0947\u0902 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0928\u093f\u0937\u094d\u0915\u0930\u094d\u0937 \u092a\u0930 \u0932\u0947 \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u091c\u092c \u090f\u0915 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0936\u093e\u0928\u0926\u093e\u0930 \u0922\u0902\u0917 \u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948 \u0914\u0930 \u091c\u092c \u0938\u094d\u091f\u0949\u0915 \u092c\u093f\u0928\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u091a\u0932 \u0930\u0939\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0905\u091a\u094d\u091b\u093e \u092a\u094d\u0930\u0926\u0930\u094d\u0936\u0928 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u0935\u093f\u092b\u0932 \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u092e\u0942\u0932 \u0930\u0942\u092a \u0938\u0947 \u0907\u0938\u0915\u093e \u0905\u0930\u094d\u0925 \u0939\u0948 \u0915\u093f \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u094b \u090f\u0915 \u091f\u094d\u0930\u0947\u0902\u0921 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u092a\u094d\u0930\u0923\u093e\u0932\u0940 \u092e\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u0905\u092a\u0928\u0947 \u0928\u093f\u091c\u0940 \u0905\u0928\u0941\u092d\u0935 \u0938\u0947, \u092e\u0948\u0902\u0928\u0947 \u0915\u0941\u091b \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0935\u093f\u0936\u0947\u0937\u0924\u093e\u0913\u0902 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u093f\u092f\u093e \u0939\u0948:", "\u092f\u0939\u093e\u0902 \u092c\u0940\u092a\u0940\u0938\u0940\u090f\u0932 (BPCL) \u0915\u093e \u090f\u0915 \u0914\u0930 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948, \u091c\u0939\u093e\u0902 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0938\u093f\u0938\u094d\u091f\u092e \u0928\u0947 \u092c\u093f\u0928\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0935\u093e\u0932\u0947 \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0926\u094c\u0930\u093e\u0928 \u0915\u0908 \u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u0938\u0941\u091d\u093e\u0935 \u0926\u093f\u092f\u093e \u0925\u093e, \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0909\u0928\u092e\u0947\u0902 \u0938\u0947 \u0915\u094b\u0908 \u092d\u0940 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0932\u093e\u092d\u0926\u093e\u092f\u0915 \u0928\u0939\u0940\u0902 \u0925\u093e\u0964 \u0932\u0947\u0915\u093f\u0928, \u0905\u0902\u0924\u093f\u092e \u090f\u0915 \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u0932\u0917\u092d\u0917 5 \u092e\u0939\u0940\u0928\u094b\u0902 \u092e\u0947\u0902 67% \u0932\u093e\u092d \u0939\u0941\u0906\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0938\u094d\u092a\u0937\u094d\u091f \u0939\u0948 \u0915\u093f \u0938\u0940\u0927\u0947 \u0938\u093e\u0926\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0947 \u0938\u093e\u0925 \u0938\u092e\u0938\u094d\u092f\u093e \u092f\u0939 \u0939\u0948 \u0915\u093f \u092f\u0939 \u090f\u0915 \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0905\u0927\u093f\u0915 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0917\u094d\u0928\u0932 \u0909\u0924\u094d\u092a\u0928\u094d\u0928 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u092a\u094d\u0930\u0923\u093e\u0932\u0940 \u0938\u093e\u0926\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0938\u093f\u0938\u094d\u091f\u092e \u092a\u0930 \u090f\u0915 \u0938\u0941\u0927\u093e\u0930\u00a0 \u0939\u0948\u0964 \u092f\u0939 \u0935\u094d\u092f\u093e\u092a\u093e\u0930\u0940 \u0915\u094b \u090f\u0915 \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u092e \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u0932\u0947\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u092e\u0947\u0902, \u091f\u094d\u0930\u0947\u0921\u0930 \u090f\u0915 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0947 \u092c\u091c\u093e\u092f \u0926\u094b \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0914\u0938\u0924 \u0915\u094b \u091c\u094b\u0921\u093c\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0947 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0938\u094d\u092e\u0942\u0925\u093f\u0902\u0917 (Smoothing) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u0915\u093e \u090f\u0915 \u0935\u093f\u0936\u093f\u0937\u094d\u091f \u0909\u0926\u093e\u0939\u0930\u0923 100 \u0926\u093f\u0928 \u0915\u0947 EMA \u0915\u0947 \u0938\u093e\u0925 50 \u0926\u093f\u0928 \u0915\u0947 EMA \u0915\u094b \u091c\u094b\u0921\u093c\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u091b\u094b\u091f\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c (\u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 50 \u0926\u093f\u0928) \u0915\u094b \u0924\u0947\u091c \u092f\u093e\u0928\u0940 \u092b\u093e\u0938\u094d\u091f\u0930 (faster) \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u092d\u0940 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091c\u092c\u0915\u093f \u0932\u0902\u092c\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c (100 \u0926\u093f\u0928 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c) \u0915\u094b \u0927\u0940\u092e\u0940 \u092f\u093e\u0928\u0940 \u0938\u094d\u0932\u094b\u0935\u0930 (slower) \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u091b\u094b\u091f\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u0940 \u0915\u092e \u0938\u0902\u0916\u094d\u092f\u093e \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u092f\u0939 \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f \u0915\u0947 \u0915\u0930\u0940\u092c \u0930\u0939\u0924\u0940 \u0939\u0948, \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u0905\u0927\u093f\u0915 \u0924\u0947\u091c\u093c\u0940 \u0938\u0947 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u0930\u0924\u0940 \u0939\u0948\u0964\u00a0 \u0932\u0902\u092c\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0905\u0927\u093f\u0915 \u0938\u0902\u0916\u094d\u092f\u093e \u092e\u0947\u0902 \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u092f\u0939 \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f \u0938\u0947 \u0926\u0942\u0930 \u0930\u0939 \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u092e\u0947\u0902 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e\u090f\u0901 \u0927\u0940\u092e\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902\u0964", "\u092f\u0939\u093e\u0902 \u092c\u0948\u0902\u0915 \u0911\u092b \u092c\u0921\u093c\u094c\u0926\u093e \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u0939\u0948, \u091c\u094b \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u093e \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0932\u094b\u0921 \u0939\u094b\u0928\u0947 \u092a\u0930 \u0926\u094b \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0948\u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f 50 \u0926\u093f\u0928 \u0915\u0940 EMA \u0915\u094b \u0926\u093f\u0916\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u093e\u0932\u0940 \u0930\u0947\u0916\u093e \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f \u0915\u0947 \u0915\u0930\u0940\u092c \u0939\u0948 (\u092f\u0939 \u0924\u0947\u091c\u0940 \u0938\u0947 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u0930\u0924\u093e \u0939\u0948) \u091c\u092c\u0915\u093f 100 \u0926\u093f\u0928 EMA (\u0907\u0938\u0915\u0940 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0927\u0940\u092e\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948) \u0915\u094b \u0926\u093f\u0916\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0917\u0941\u0932\u093e\u092c\u0940 \u0930\u0947\u0916\u0906 \u0907\u0938\u0938\u0947 \u0915\u0941\u091b \u0926\u0942\u0930 \u0939\u0948\u0964", "\u0915\u093e\u0930\u094b\u092c\u093e\u0930\u093f\u092f\u094b\u0902 \u0928\u0947 \u090f\u0928\u094d\u091f\u094d\u0930\u0940 \u0914\u0930 \u090f\u0915\u094d\u091c\u093f\u091f \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0915\u094b \u092c\u0947\u0939\u0924\u0930 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0947 \u0938\u093e\u0925 \u0938\u093e\u0926\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u092d\u0940 \u0938\u0902\u0936\u094b\u0927\u093f\u0924 \u0915\u093f\u092f\u093e \u0939\u0948\u0964 \u0907\u0938 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u092e\u0947\u0902, \u0935\u094d\u092f\u093e\u092a\u093e\u0930\u0940 \u0915\u094b \u092c\u0939\u0941\u0924 \u0915\u092e \u0938\u0902\u0915\u0947\u0924 \u092e\u093f\u0932\u0924\u0947 \u0939\u0948\u0902, \u0932\u0947\u0915\u093f\u0928 \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0915\u0947 \u0932\u093e\u092d\u0926\u093e\u092f\u0915 \u0939\u094b\u0928\u0947 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0915\u093e\u092b\u0940 \u0905\u0927\u093f\u0915 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0947 \u0932\u093f\u090f \u090f\u0928\u094d\u091f\u094d\u0930\u0940 \u0914\u0930 \u090f\u0915\u094d\u091c\u093f\u091f \u0928\u093f\u092f\u092e \u0928\u093f\u092e\u094d\u0928\u093e\u0928\u0941\u0938\u093e\u0930 \u0939\u0948\u0902:", "\u0928\u093f\u092f\u092e 1) \u2013 \u091c\u092c \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u093f\u0938\u0940 \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0938\u0947 \u0905\u0927\u093f\u0915 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u0924\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u093e (\u0928\u092f\u0940 \u0932\u093e\u0902\u0917 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e\u0928\u093e) \u091a\u093e\u0939\u093f\u090f\u0964 \u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u0924\u092c \u0924\u0915 \u0930\u0939\u0947\u0902 \u091c\u092c \u0924\u0915 \u092f\u0939 \u0938\u094d\u0925\u093f\u0924\u093f \u092c\u0928\u0940 \u0930\u0939\u0947\u0964", "\u0928\u093f\u092f\u092e 2) \u2013 \u091c\u092c \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u093f\u0938\u0940 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0938\u0947 \u0915\u092e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u0932\u093e\u0902\u0917 \u091f\u094d\u0930\u0947\u0921 \u0938\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932 \u091c\u093e\u0928\u093e (\u092a\u094b\u091c\u0940\u0936\u0928 \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930\u0928\u093e) \u091a\u093e\u0939\u093f\u090f\u0964", "\u0906\u0907\u090f \u0939\u092e \u092a\u0939\u0932\u0947 \u0932\u093f\u090f \u0917\u090f BPCL \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u0932\u093e\u0917\u0942 \u0915\u0930\u0947\u0902\u0964 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u0906\u0938\u093e\u0928\u0940 \u0915\u0947 \u0932\u093f\u090f, \u092e\u0948\u0902\u0928\u0947 BPCL \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u094b 50 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0947 \u0938\u093e\u0925 \u092a\u0941\u0928: \u092a\u0947\u0936 \u0915\u093f\u092f\u093e \u0939\u0948\u0964", "", "\u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902, \u091c\u092c \u092c\u093e\u091c\u093e\u0930 \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u091a\u0932 \u0930\u0939\u0947 \u0925\u0947, MA \u092f\u093e\u0928\u0940 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0928\u0947 \u0915\u092e \u0938\u0947 \u0915\u092e 3 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0917\u094d\u0928\u0932 \u0915\u093e \u0938\u0941\u091d\u093e\u0935 \u0926\u093f\u092f\u093e\u0964 \u0907\u0938\u092e\u0947\u0902 \u091a\u094c\u0925\u093e \u091f\u094d\u0930\u0947\u0921 \u092e\u0941\u0928\u093e\u092b\u0947 \u0935\u093e\u0932\u093e \u0925\u093e \u091c\u093f\u0938\u0915\u0947 \u092a\u0930\u093f\u0923\u093e\u092e\u0938\u094d\u0935\u0930\u0942\u092a 67% \u0932\u093e\u092d \u0939\u0941\u0906\u0964", "\u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u091a\u093e\u0930\u094d\u091f 50 \u0914\u0930 100 \u0926\u093f\u0928 EMA \u0915\u0947 \u0938\u093e\u0925 MA \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0947 \u0909\u092a\u092f\u094b\u0917 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964", "", "\u0915\u093e\u0932\u0940 \u0930\u0947\u0916\u093e 50 \u0926\u093f\u0928 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u094b \u0926\u093f\u0916\u093e \u0930\u0939\u0940 \u0939\u0948 \u0914\u0930 \u0917\u0941\u0932\u093e\u092c\u0940 \u0930\u0947\u0916\u093e 100 \u0926\u093f\u0928 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u094b\u0964 \u0915\u094d\u0930\u0949\u0938 \u0913\u0935\u0930 \u0928\u093f\u092f\u092e \u0915\u0947 \u0905\u0928\u0941\u0938\u093e\u0930, \u0932\u093e\u0902\u0917 \u091c\u093e\u0928\u0947 \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u0924\u092c \u092e\u093f\u0932\u0924\u093e \u0939\u0948 \u091c\u092c 50 \u0926\u093f\u0928 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c\u00a0 (\u0915\u092e \u0938\u092e\u092f \u0935\u093e\u0932\u093e MA) 100 \u0926\u093f\u0928 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c (\u0926\u0940\u0930\u094d\u0918\u0915\u093e\u0932\u093f\u0915 MA) \u0938\u0947 \u0905\u0927\u093f\u0915 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u092a\u0949\u0907\u0902\u091f \u0915\u094b \u090f\u0915 \u0924\u0940\u0930 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0915\u0943\u092a\u092f\u093e \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0915\u093f \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0948\u0938\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b 3 \u0932\u093e\u092d\u0939\u0940\u0928 \u091f\u094d\u0930\u0947\u0921 \u0938\u0947 \u0926\u0942\u0930 \u0930\u0916\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0915\u094d\u0930\u0949\u0938 \u0913\u0935\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u093e \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u0948\u0964", "\u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u092a\u0930 MA \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u0902\u092f\u094b\u091c\u0928 \u092f\u093e \u092e\u0947\u0932 (Combination) \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0938\u094d\u0935\u093f\u0902\u0917 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u091b \u0932\u094b\u0915\u092a\u094d\u0930\u093f\u092f \u0938\u0902\u092f\u094b\u091c\u0928 \u0939\u0948\u0902:", "\u092f\u093e\u0926 \u0930\u0916\u0947\u0902, \u0905\u0927\u093f\u0915 \u0938\u092e\u092f \u0905\u0935\u0927\u093f \u0915\u0947 \u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0917\u094d\u0928\u0932 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u092e \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u092f\u0939\u093e\u0902 25 x 50 EMA \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0915\u093e \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948\u0964 \u092f\u0939\u093e\u0901 \u0924\u0940\u0928 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u0902\u0915\u0947\u0924 \u0939\u0948\u0902 \u091c\u094b \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0928\u093f\u092f\u092e \u0915\u0947 \u0924\u0939\u0924 \u0939\u0948\u0902\u0964", "", "\u0915\u0939\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0915\u093f \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u0932\u093f\u090f MA \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u092d\u0940 \u0932\u093e\u0917\u0942 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u0915\u094b\u0908 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0905\u0935\u0938\u0930\u094b\u0902 \u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f 15 x 30 \u092e\u093f\u0928\u091f \u0915\u0947 \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u0905\u0927\u093f\u0915 \u0906\u0915\u094d\u0930\u093e\u092e\u0915 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 (Aggressive trader) 5 x 10 \u092e\u093f\u0928\u091f \u0915\u0947 \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0906\u092a\u0928\u0947 \u092c\u093e\u091c\u093c\u093e\u0930\u094b\u0902 \u092e\u0947\u0902 \u092f\u0939 \u0932\u094b\u0915\u092a\u094d\u0930\u093f\u092f \u0915\u0939\u093e\u0935\u0924 \u0938\u0941\u0928\u0940 \u0939\u094b\u0917\u0940 \u2013 \u091f\u094d\u0930\u0947\u0902\u0921 \u0939\u0948 \u0906\u092a\u0915\u093e \u0926\u094b\u0938\u094d\u0924 (The trend is your friend)\u0964 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0906\u092a\u0915\u094b \u0907\u0938 \u0926\u094b\u0938\u094d\u0924 \u0915\u094b \u092a\u0939\u091a\u093e\u0928\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u092f\u093e\u0926 \u0930\u0916\u0947\u0902, MA \u090f\u0915 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u093e \u0905\u0928\u0941\u0938\u0930\u0923 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0940 \u092a\u094d\u0930\u0923\u093e\u0932\u0940 \u0939\u0948 \u2013 \u091c\u092c \u0924\u0915 \u090f\u0915 \u091f\u094d\u0930\u0947\u0902\u0921 \u0939\u0948, \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0936\u093e\u0928\u0926\u093e\u0930 \u0922\u0902\u0917 \u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u0915\u094b\u0908 \u092b\u0930\u094d\u0915 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u093f\u0938 \u0938\u092e\u092f \u0938\u0940\u092e\u093e \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u092f\u093e \u0915\u094c\u0928 \u0938\u0947 \u0938\u0902\u092f\u094b\u091c\u0928 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "MOST EASIEST AND EFFECTIVE STRATEGY", "13.1 ke 2nd chart me 28tarik ko add krna tha usme 21ko add kr diya\nchart me data galat he", "Very good step. Thanks", "\u0913\u0930 \u0925\u094b\u0921\u093e explain \u0915\u0940\u091c\u0940\u092f\u0947 EMA \u0915\u0948\u0938\u0947 \u0928\u093f\u0915\u093e\u0932\u0924\u0947 \u0939\u0948.", "\u090f\u0915\u094d\u0938\u092a\u094b\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u090f\u0915 \u092a\u094d\u0930\u0915\u093e\u0930 \u0915\u093e \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0939\u0948 \u091c\u094b \u0938\u092c\u0938\u0947 \u0905\u0927\u093f\u0915 \u0921\u0947\u091f\u093e \u092a\u0949\u0907\u0902\u091f \u092a\u0930 \u0905\u0927\u093f\u0915 \u0935\u091c\u0928 \u0914\u0930 \u092e\u0939\u0924\u094d\u0935 \u0930\u0916\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u090f\u0915\u094d\u0938\u092a\u094b\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0930\u0942\u092a \u0938\u0947 \u092d\u093e\u0930\u093f\u0924 \u091a\u0932\u0924\u0940 \u0914\u0938\u0924 \u090f\u0915 \u0938\u093e\u0927\u093e\u0930\u0923 \u091a\u0932\u0924\u0940 \u0914\u0938\u0924 (SMA) \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u0939\u093e\u0932\u093f\u092f\u093e \u092e\u0942\u0932\u094d\u092f \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u092b\u0940 \u0905\u0927\u093f\u0915 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u0930\u0924\u093e \u0939\u0948, \u091c\u094b \u0915\u093f \u0905\u0935\u0927\u093f \u092e\u0947\u0902 \u0938\u092d\u0940 \u091f\u093f\u092a\u094d\u092a\u0923\u093f\u092f\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0938\u092e\u093e\u0928 \u092d\u093e\u0930 \u0932\u093e\u0917\u0942 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "sir EMA ko candlestick par plot kaise karte hai..kon konse points ko jodkar EMA ki line aap draw karte hai..aapke example mae B1 point par buy karna hai..etc etc. to humne jo bhi 3 trade kare hai as per your example woh same day par hi kare hai", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch13-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch13-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch13-chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch13-chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch13-chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch13-chart5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch13-chart6.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch13-chart7.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch13-chart8.jpg", "https://secure.gravatar.com/avatar/ac559e90fe9dc42a8a58fcfe66aa8b6e?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/684e32d562ff98918a52e851a4d0c3d9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/fbdf0225795193fdf400189094da5ef1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/41e6b006425a76ae9589b38cb43dbaac?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1ae5bcc898837f88fd52d0159ca398b4?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e \u0938\u0902</th>\n<th>\u0935\u094d\u092f\u0915\u094d\u0924\u093f</th>\n<th>\u092c\u094b\u0924\u0932\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>A</td>\n<td>7</td>\n</tr>\n<tr>\n<td>2</td>\n<td>B</td>\n<td>5</td>\n</tr>\n<tr>\n<td>3</td>\n<td>C</td>\n<td>6</td>\n</tr>\n<tr>\n<td>4</td>\n<td>D</td>\n<td>3</td>\n</tr>\n<tr>\n<td>5</td>\n<td>E</td>\n<td>8</td>\n</tr>\n<tr>\n<td><strong>\u092c\u094b\u0924\u0932\u094b\u0902 \u0915\u0940 \u0915\u0941\u0932 \u0938\u0902\u0916\u094d\u092f\u093e</strong></td>\n<td></td>\n<td><strong>29</strong></td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0924\u093e\u0930\u0940\u0916</th>\n<th>\u092c\u0902\u0926 \u0915\u0940\u092e\u0924</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>14/07/14</td>\n<td>344.95</td>\n</tr>\n<tr>\n<td>15/07/14</td>\n<td>342.35</td>\n</tr>\n<tr>\n<td>16/07/14</td>\n<td>344.2</td>\n</tr>\n<tr>\n<td>17/07/14</td>\n<td>344.25</td>\n</tr>\n<tr>\n<td>18/07/14</td>\n<td>344</td>\n</tr>\n<tr>\n<td><strong>\u0915\u0941\u0932</strong></td>\n<td><strong>1719.75</strong></td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0924\u093e\u0930\u0940\u0916</th>\n<th>\u092c\u0902\u0926 \u0915\u0940\u092e\u0924</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>21/07/14</td>\n<td>239.2</td>\n</tr>\n<tr>\n<td>22/07/14</td>\n<td>240.6</td>\n</tr>\n<tr>\n<td>23/07/14</td>\n<td>241.8</td>\n</tr>\n<tr>\n<td>24/07/14</td>\n<td>242.8</td>\n</tr>\n<tr>\n<td>25/07/14</td>\n<td>247.9</td>\n</tr>\n<tr>\n<td><strong>\u0915\u0941\u0932</strong></td>\n<td><strong>1212.3</strong></td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0924\u093e\u0930\u0940\u0916</th>\n<th>\u092c\u0902\u0926 \u0915\u0940\u092e\u0924</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>21/07/14</td>\n<td>239.2</td>\n</tr>\n<tr>\n<td>22/07/14</td>\n<td>240.6</td>\n</tr>\n<tr>\n<td>23/07/14</td>\n<td>241.8</td>\n</tr>\n<tr>\n<td>24/07/14</td>\n<td>242.8</td>\n</tr>\n<tr>\n<td>25/07/14</td>\n<td>247.9</td>\n</tr>\n<tr>\n<td><strong>\u0915\u0941\u0932</strong></td>\n<td><strong>1212.3</strong></td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0938\u0947\u0932 \u0930\u0947\u092b\u0930\u0947\u0902\u0938</th>\n<th>\u0924\u093e\u0930\u0940\u0916</th>\n<th>\u0915\u094d\u0932\u094b\u091c\u093c \u0915\u0940\u092e\u0924</th>\n<th>5 \u0926\u093f\u0928 \u0915\u093e \u090f\u0935\u0930\u0947\u091c</th>\n<th>\u090f\u0935\u0930\u0947\u091c \u0915\u093e \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u093e</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>D3</td>\n<td>1-Jan-14</td>\n<td>1287.7</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>D4</td>\n<td>2-Jan-14</td>\n<td>1279.25</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>D5</td>\n<td>3-Jan-14</td>\n<td>1258.95</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>D6</td>\n<td>6-Jan-14</td>\n<td>1249.7</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>D7</td>\n<td>7-Jan-14</td>\n<td>1242.4</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>D8</td>\n<td>8-Jan-14</td>\n<td>1268.75</td>\n<td>1263.6</td>\n<td>=AVERAGE(D3:D7)</td>\n</tr>\n<tr>\n<td>D9</td>\n<td>9-Jan-14</td>\n<td>1231.2</td>\n<td>1259.81</td>\n<td>=AVERAGE(D4:D8)</td>\n</tr>\n<tr>\n<td>D10</td>\n<td>10-Jan-14</td>\n<td>1201.75</td>\n<td>1250.2</td>\n<td>=AVERAGE(D5:D9)</td>\n</tr>\n<tr>\n<td>D11</td>\n<td>13-Jan-14</td>\n<td>1159.2</td>\n<td>1238.76</td>\n<td>=AVERAGE(D6:D10)</td>\n</tr>\n<tr>\n<td>D12</td>\n<td>14-Jan-14</td>\n<td>1157.25</td>\n<td>1220.66</td>\n<td>=AVERAGE(D7:D11)</td>\n</tr>\n<tr>\n<td>D13</td>\n<td>15-Jan-14</td>\n<td>1141.35</td>\n<td>1203.63</td>\n<td>=AVERAGE(D8:D12)</td>\n</tr>\n<tr>\n<td>D14</td>\n<td>16-Jan-14</td>\n<td>1152.5</td>\n<td>1178.15</td>\n<td>=AVERAGE(D9:D13)</td>\n</tr>\n<tr>\n<td>D15</td>\n<td>17-Jan-14</td>\n<td>1139.6</td>\n<td>1162.41</td>\n<td>=AVERAGE(D10:D14)</td>\n</tr>\n<tr>\n<td>D16</td>\n<td>20-Jan-14</td>\n<td>1140.6</td>\n<td>1149.98</td>\n<td>=AVERAGE(D11:D15)</td>\n</tr>\n<tr>\n<td>D17</td>\n<td>21-Jan-14</td>\n<td>1166.35</td>\n<td>1146.26</td>\n<td>=AVERAGE(D12:D16)</td>\n</tr>\n<tr>\n<td>D18</td>\n<td>22-Jan-14</td>\n<td>1165.4</td>\n<td>1148.08</td>\n<td>=AVERAGE(D13:D17)</td>\n</tr>\n<tr>\n<td>D19</td>\n<td>23-Jan-14</td>\n<td>1168.25</td>\n<td>1152.89</td>\n<td>=AVERAGE(D14:D18)</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0924\u093e\u0930\u0940\u0916</th>\n<th>\u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u0915\u0940\u092e\u0924</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>22/07/14</td>\n<td>240.6</td>\n</tr>\n<tr>\n<td>23/07/14</td>\n<td>241.8</td>\n</tr>\n<tr>\n<td>24/07/14</td>\n<td>242.8</td>\n</tr>\n<tr>\n<td>25/07/14</td>\n<td>247.9</td>\n</tr>\n<tr>\n<td>28/07/14</td>\n<td>250.2</td>\n</tr>\n<tr>\n<td><strong>\u0915\u0941\u0932</strong></td>\n<td><strong>1214.5</strong></td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e \u0938\u0902</th>\n<th>\u0916\u0930\u0940\u0926 \u0915\u0940\u092e\u0924</th>\n<th>\u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0940\u092e\u0924</th>\n<th>\u0928\u092b\u093e/\u0928\u0941\u0915\u0938\u093e\u0928</th>\n<th>%\u0915\u092e\u093e\u0908</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>165</td>\n<td>187</td>\n<td>22</td>\n<td>13%</td>\n</tr>\n<tr>\n<td>2</td>\n<td>178</td>\n<td>182</td>\n<td>4</td>\n<td>2.20%</td>\n</tr>\n<tr>\n<td>3</td>\n<td>165</td>\n<td>215</td>\n<td>50</td>\n<td>30%</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "14. \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 -\u092d\u093e\u0917 1", "text": ["", "\u092f\u0926\u093f \u0906\u092a \u0915\u093f\u0938\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092a\u0930 \u0938\u094d\u091f\u0949\u0915 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a\u0915\u094b \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0915\u0908 \u0924\u0930\u0939 \u0915\u0940 \u0930\u0947\u0916\u093e\u090f\u0902 \u0926\u093f\u0916\u0947\u0902\u0917\u0940\u0964 \u0907\u0928\u0915\u094b \u2018\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938\u2019 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0939\u094b \u0930\u0939\u0947 \u092b\u0947\u0930\u092c\u0926\u0932 \u0915\u093e \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u090f\u0915 \u0938\u094d\u0935\u0924\u0902\u0924\u094d\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u0939\u0948 \u091c\u094b \u0926\u0941\u0928\u093f\u092f\u093e \u0915\u0947 \u0938\u092b\u0932 \u091f\u094d\u0930\u0947\u0921\u0930\u094d\u0938 \u0928\u0947 \u092c\u0928\u093e\u092f\u093e \u0939\u0948\u0964 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u090f\u0915 \u092a\u094d\u0930\u0940\u0938\u0947\u091f \u0932\u0949\u091c\u093f\u0915 (preset logic) \u092a\u0930 \u092c\u0928\u093e\u090f \u0917\u090f \u0939\u0948\u0902, \u091c\u093f\u0928\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0915\u0947 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092a\u0928\u0947 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 (\u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915\u094d\u0938, \u0935\u0949\u0932\u094d\u092f\u0942\u092e, S&R) \u0915\u094b \u0914\u0930 \u092e\u091c\u092c\u0942\u0924 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u092b\u0948\u0938\u0932\u0947, \u091c\u0948\u0938\u0947 \u0916\u0930\u0940\u0926\u0928\u093e, \u092c\u0947\u091a\u0928\u093e, \u091f\u094d\u0930\u0947\u0921 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0928\u093e \u0914\u0930 \u0915\u092d\u0940-\u0915\u092d\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f\u0935\u093e\u0923\u0940 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u0926\u094b \u092a\u094d\u0930\u0915\u093e\u0930 \u0915\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0932\u0940\u0921\u093f\u0902\u0917 (Leading) \u0914\u0930 \u0932\u0948\u0917\u093f\u0902\u0917 (Lagging)\u0964 \u090f\u0915 \u0932\u0940\u0921\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0906\u0917\u0947 \u091a\u0932\u0924\u093e \u0939\u0948, \u091c\u093f\u0938\u0915\u093e \u0905\u0930\u094d\u0925 \u0939\u0948 \u0915\u093f \u0906\u092e \u0924\u094c\u0930 \u092a\u0930 \u092f\u0939 \u092a\u0939\u0932\u0947 \u0938\u0947 \u0939\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u0930\u093f\u0935\u0930\u094d\u0938\u0932 (\u092f\u093e\u0928\u0940 \u092c\u0926\u0932\u093e\u0935) \u092f\u093e \u090f\u0915 \u0928\u090f \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u092c\u0928\u0928\u0947 \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u0926\u0947 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u092f\u0947 \u0932\u0917\u0924\u093e \u092c\u0939\u0941\u0924 \u0930\u094b\u091a\u0915 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u092f\u0939\u093e\u0901 \u0906\u092a\u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0938\u092d\u0940 \u0932\u0940\u0921\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u0938\u091f\u0940\u0915 \u0928\u0939\u0940\u0902 \u0939\u0948\u0902\u0964 \u0932\u0940\u0921\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u091d\u0942\u0920\u0947 \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u0916\u094d\u092f\u093e\u0924 \u0939\u0948\u0902\u0964 \u0907\u0938\u0932\u093f\u090f, \u0932\u0940\u0921\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0924\u0947 \u0938\u092e\u092f \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0915\u094b \u0905\u0924\u094d\u092f\u0927\u093f\u0915 \u0938\u0924\u0930\u094d\u0915 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u0905\u0928\u0941\u092d\u0935 \u0915\u0947 \u0938\u093e\u0925 \u0932\u0940\u0921\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0928\u0947 \u0915\u0940 \u0915\u0941\u0936\u0932\u0924\u093e \u092c\u0922\u093c \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0905\u0927\u093f\u0915\u093e\u0902\u0936 \u0932\u0940\u0921\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u0915\u094b \u0911\u0938\u093f\u0932\u0947\u091f\u0930 (Oscillators) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u0947 \u090f\u0915 \u0924\u092f \u0938\u0940\u092e\u093e \u0915\u0947 \u092d\u0940\u0924\u0930 \u0939\u0940 \u0907\u0927\u0930 \u0909\u0927\u0930 \u0918\u0942\u092e\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u090f\u0915 \u0911\u0938\u093f\u0932\u0947\u091f\u0930 \u0926\u094b \u092e\u0942\u0932\u094d\u092f\u094b\u0902 \u0915\u0947 \u092c\u0940\u091a \u0939\u0940 \u0930\u0939\u0924\u093e \u0939\u0948 \u2013 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f 0 \u0938\u0947 100 \u0915\u0947 \u092c\u0940\u091a\u0964 \u0911\u0938\u093f\u0932\u0947\u091f\u0930 \u0915\u0940 \u0930\u0940\u0921\u093f\u0902\u0917 (\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f 55, 70 \u0906\u0926\u093f) \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0940 \u0935\u094d\u092f\u093e\u0916\u094d\u092f\u093e \u0905\u0932\u0917-\u0905\u0932\u0917 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0926\u0942\u0938\u0930\u0940 \u0913\u0930 \u090f\u0915 \u0932\u0948\u0917\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092a\u0940\u091b\u0947 \u091a\u0932\u0924\u093e \u0939\u0948; \u0907\u0938\u0915\u093e \u0905\u0930\u094d\u0925 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092f\u0939 \u091f\u094d\u0930\u0947\u0902\u0921 \u0930\u093f\u0935\u0930\u094d\u0938\u0932 \u092f\u093e \u090f\u0915 \u0928\u090f \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u0918\u091f\u093f\u0924 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0906\u092a \u0938\u094b\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0918\u091f\u0928\u093e \u0918\u091f\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0938\u0902\u0915\u0947\u0924 \u092e\u093f\u0932\u0928\u0947 \u0915\u093e \u0915\u094d\u092f\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0917\u093e? \u0916\u0948\u0930, \u0938\u0902\u0915\u0947\u0924 \u0928\u093e \u092e\u093f\u0932\u0928\u0947 \u0938\u0947 \u0915\u0939\u0940\u0902 \u092c\u0947\u0939\u0924\u0930 \u0939\u0948 \u092c\u093e\u0926 \u092e\u0947\u0902 \u0938\u0902\u0915\u0947\u0924 \u092e\u093f\u0932 \u091c\u093e\u0928\u093e\u0964 \u0938\u092c\u0938\u0947 \u0932\u094b\u0915\u092a\u094d\u0930\u093f\u092f \u0932\u0948\u0917\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0939\u0948\u2013\u00a0 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c\u0947\u0938 (Moving Averages)\u0964", "\u0906\u092a \u0938\u094b\u091a \u0930\u0939\u0947 \u0939\u094b\u0902\u0917\u0947 \u0915\u093f \u0905\u0917\u0930 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0905\u092a\u0928\u0947 \u0906\u092a \u092e\u0947\u0902 \u090f\u0915 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0939\u0948, \u0924\u094b \u0939\u092e\u0928\u0947 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u0939\u0940 \u0907\u0938\u0915\u0940 \u091a\u0930\u094d\u091a\u093e \u0915\u094d\u092f\u094b\u0902 \u0915\u0940? \u0915\u093e\u0930\u0923 \u092f\u0939 \u0939\u0948 \u0915\u093f \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0905\u092a\u0928\u0947 \u0906\u092a \u092e\u0947\u0902 \u090f\u0915 \u092e\u0942\u0932 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0939\u0948\u0964 RSI, MACD, \u0938\u094d\u091f\u094b\u0915\u0938\u094d\u091f\u093f\u0915 (Stochastic) \u091c\u0948\u0938\u0947 \u0915\u0908 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u092e\u0947\u0902 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c\u0947\u0938 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0915\u093e\u0930\u0923 \u0938\u0947, \u0939\u092e\u0928\u0947 \u090f\u0915 \u0905\u0932\u0917 \u0935\u093f\u0937\u092f \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c\u0947\u0938 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0940\u0964", "\u0907\u0938\u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u093f \u0939\u092e \u0905\u0932\u0917 \u0905\u0932\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u0917\u0947 \u092c\u0922\u093c\u0947\u0902, \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0939\u092e\u0947\u0902 \u092e\u094b\u092e\u0947\u0902\u091f\u092e (momentum) \u092f\u093e\u0928\u0940 \u0917\u0924\u093f/\u0935\u0947\u0917 \u0915\u093e \u092e\u0924\u0932\u092c \u0938\u092e\u091d \u0932\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0935\u0939 \u0926\u0930 \u0939\u0948 \u091c\u093f\u0938 \u092a\u0930 \u0915\u0940\u092e\u0924 \u092c\u0926\u0932\u0924\u0940 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092f\u0926\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0906\u091c 100 \u0930\u0941\u092a\u092f\u0947 \u0939\u0948 \u0914\u0930 \u092f\u0939 \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 105 \u0930\u0941\u092a\u092f\u0947 \u0924\u0915 \u091c\u093e\u0924\u0940 \u0939\u0948, \u0914\u0930 \u090f\u0915 \u0926\u093f\u0928 \u092c\u093e\u0926 115 \u0924\u0915, \u0939\u092e \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0905\u0927\u093f\u0915 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947\u0935\u0932 3 \u0926\u093f\u0928\u094b\u0902 \u092e\u0947\u0902 15% \u092c\u0926\u0932 \u0917\u0908 \u0939\u0948\u0964 \u0939\u093e\u0932\u093e\u0901\u0915\u093f \u0905\u0917\u0930 \u092f\u0939\u0940 15% \u092c\u0926\u0932\u093e\u0935 3 \u092e\u0939\u0940\u0928\u0947 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0924\u094b \u0939\u092e \u0915\u0939\u0924\u0947 \u0915\u093f \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0915\u092e \u0939\u0948\u0964 \u0924\u094b \u091c\u093f\u0924\u0928\u0940 \u0924\u0947\u091c\u0940 \u0938\u0947 \u0915\u0940\u092e\u0924 \u092c\u0926\u0932\u0924\u0940 \u0939\u0948, \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0909\u0924\u0928\u093e \u0939\u0940 \u0905\u0927\u093f\u0915 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0930\u093f\u0932\u0947\u091f\u093f\u0935 \u0938\u094d\u091f\u094d\u0930\u0947\u0902\u0925 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092f\u093e \u0938\u093f\u0930\u094d\u092b RSI \u090f\u0915 \u0932\u094b\u0915\u092a\u094d\u0930\u093f\u092f \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0939\u0948 \u091c\u093f\u0938\u0947 \u091c\u0947. \u0935\u0947\u0932\u094d\u0938 \u0935\u093e\u0907\u0932\u094d\u0921\u0930 \u0928\u0947 \u0935\u093f\u0915\u0938\u093f\u0924 \u0915\u093f\u092f\u093e \u0939\u0948\u0964 RSI \u090f\u0915 \u0932\u0940\u0921\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0939\u0948 \u091c\u094b \u090f\u0915 \u091f\u094d\u0930\u0947\u0902\u0921 \u0930\u093f\u0935\u0930\u094d\u0938\u0932 \u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 RSI \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 0 \u0914\u0930 100 \u0915\u0947 \u092c\u0940\u091a \u0939\u0940 \u0930\u0939\u0924\u093e \u0939\u0948, \u0914\u0930 \u0907\u0938 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u0940 \u0928\u0935\u0940\u0928\u0924\u092e \u0930\u0940\u0921\u093f\u0902\u0917 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930, \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0926\u093f\u0936\u093e \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u201c\u0930\u093f\u0932\u0947\u091f\u093f\u0935 \u0938\u094d\u091f\u094d\u0930\u0947\u0902\u0925 \u0907\u0902\u0921\u0947\u0915\u094d\u0938\u201d \u0936\u092c\u094d\u0926 \u0925\u094b\u0921\u093c\u093e \u092d\u094d\u0930\u093e\u092e\u0915 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939 \u0926\u094b \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u093e \u0939\u0948, \u092c\u0932\u094d\u0915\u093f \u0907\u0938\u0915\u0947 \u092c\u091c\u093e\u092f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0906\u0902\u0924\u0930\u093f\u0915 \u0924\u093e\u0915\u0924 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 RSI \u0938\u092c\u0938\u0947 \u0932\u094b\u0915\u092a\u094d\u0930\u093f\u092f \u0932\u0940\u0921\u093f\u0902\u0917 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0939\u0948, \u091c\u094b \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0914\u0930 \u092c\u093f\u0928\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0935\u093e\u0932\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0930\u0947\u0902\u091c \u0915\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0926\u094c\u0930\u093e\u0928 \u0938\u092c\u0938\u0947 \u092e\u091c\u092c\u0942\u0924 \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0924\u093e \u0939\u0948\u0964", "RSI \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u0947 \u0915\u093e \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u093e \u092f\u0947 \u0939\u0948:", "", "\u0907\u0938 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u094b \u0928\u093f\u092e\u094d\u0928\u0932\u093f\u0916\u093f\u0924 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0940 \u0938\u0939\u093e\u092f\u0924\u093e \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902: \u092e\u093e\u0928 \u0932\u0947\u0902 \u0915\u093f \u090f\u0915 \u0938\u094d\u091f\u0949\u0915 99 \u092a\u0930 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u0930 \u0930\u0939\u093e \u0939\u0948, \u0907\u0938\u0947 \u0926\u093f\u0928 0 \u092e\u093e\u0928 \u0932\u0947\u0902 \u0914\u0930 \u0905\u092c \u0928\u093f\u092e\u094d\u0928 \u0921\u093e\u091f\u093e \u092a\u0930 \u0935\u093f\u091a\u093e\u0930 \u0915\u0930\u0947\u0902:", "\u0909\u092a\u0930\u094b\u0915\u094d\u0924 \u0924\u093e\u0932\u093f\u0915\u093e \u092e\u0947\u0902, \u092a\u094d\u0935\u093e\u0907\u0902\u091f\u094d\u0938 \u092e\u0947\u0902 \u092c\u0922\u0924/\u0928\u0941\u0915\u0938\u093e\u0928 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0915\u094d\u0932\u094b\u091c \u0938\u0947 \u092a\u094d\u0935\u093e\u0907\u0902\u091f\u094d\u0938 \u092e\u0947\u0902 \u092c\u0922\u0924/\u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u094b \u0926\u093f\u0916\u093e \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092f\u0926\u093f \u0906\u091c \u0915\u093e \u0915\u094d\u0932\u094b\u091c 104 \u0939\u0948 \u0914\u0930 \u0915\u0932 \u0915\u093e \u0915\u094d\u0932\u094b\u091c 100 \u0925\u093e, \u0924\u094b \u092a\u094d\u0935\u093e\u0907\u0902\u091f\u094d\u0938 \u092e\u0947\u0902 \u092c\u0922\u0924 4 \u0915\u0940 \u0939\u094b\u0917\u0940 \u0914\u0930 \u0928\u0941\u0915\u0938\u093e\u0928 0 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0915\u093e.\u0964 \u092f\u0926\u093f \u0906\u091c \u0915\u093e \u0915\u094d\u0932\u094b\u091c 104 \u0925\u093e \u0914\u0930 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u093e \u0915\u094d\u0932\u094b\u091c 107 \u0925\u093e, \u0924\u094b \u092c\u0922\u0924\u00a0 0 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0914\u0930 \u0928\u0941\u0915\u0938\u093e\u0928 3 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0915\u093e \u0939\u094b\u0917\u093e\u0964 \u0915\u0943\u092a\u092f\u093e \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0915\u093f, \u0939\u093e\u0930 \u0915\u0940 \u0917\u0923\u0928\u093e \u0938\u0915\u093e\u0930\u093e\u0924\u094d\u092e\u0915 \u092e\u093e\u0928 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0939\u092e\u0928\u0947 \u0917\u0923\u0928\u093e \u0915\u0947 \u0932\u093f\u090f 14 \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u093f\u092f\u093e \u0939\u0948, \u091c\u094b \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u092e\u0947\u0902 \u0921\u093f\u092b\u093c\u0949\u0932\u094d\u091f \u0938\u0947\u091f\u093f\u0902\u0917 (Default setting) \u0939\u0948\u0964 \u0907\u0938\u0947 \u2018\u0932\u0941\u0915-\u092c\u0948\u0915 \u092a\u0940\u0930\u093f\u092f\u0921 (Look back period)\u2018 \u092d\u0940 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0926\u093f \u0906\u092a \u092a\u094d\u0930\u0924\u093f \u0918\u0902\u091f\u093e \u0935\u093e\u0932\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u093e \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0924\u094b \u0921\u093f\u092b\u093c\u0949\u0932\u094d\u091f (Default) \u0905\u0935\u0927\u093f 14 \u0918\u0902\u091f\u0947 \u0939\u0948, \u0914\u0930 \u092f\u0926\u093f \u0906\u092a \u0926\u0948\u0928\u093f\u0915 \u091a\u093e\u0930\u094d\u091f \u0915\u093e \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0924\u094b \u0921\u093f\u092b\u093c\u0949\u0932\u094d\u091f \u0905\u0935\u0927\u093f 14 \u0926\u093f\u0928 \u0939\u0948\u0964", "\u092a\u0939\u0932\u093e \u0915\u0926\u092e \u2018RS\u2019 \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 RSI \u092b\u0948\u0915\u094d\u091f\u0930 \u092d\u0940 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a RS \u0915\u0947 \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u0947 \u092e\u0947\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0915\u093f \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u092e\u0947\u0902 \u0914\u0938\u0924 \u0928\u0941\u0915\u0938\u093e\u0928 \u0914\u0930 \u0914\u0938\u0924 \u092c\u0922\u0924 \u0915\u0947 \u0905\u0928\u0941\u092a\u093e\u0924 \u0915\u094b RS \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092a\u094d\u0935\u093e\u0907\u0902\u091f \u092e\u0947\u0902 \u0914\u0938\u0924 \u092c\u0922\u0924 = 29/14", "= 2.07", "\u092a\u094d\u0935\u093e\u0907\u0902\u091f \u092e\u0947\u0902 \u0914\u0938\u0924 \u0928\u0941\u0915\u0938\u093e\u0928 = 10/14", "= 0.714", "RS = 2.07 / 0.714", "= 2.8991", "RSI \u0915\u0947 \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u0947 \u092e\u0947\u0902 RS \u0915\u094b \u0921\u093e\u0932\u0928\u0947 \u092a\u0930,", "= 100 \u2013 [100 / (1 + 2.8991)]", "= 100 \u2013 [100 / 3.8991]", "= 100 \u2013 25.6469", "RSI = 74.3531", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 RSI \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u093e\u092b\u0940 \u0938\u0930\u0932 \u0939\u0948\u0964 RSI \u0915\u0947 \u0909\u092a\u092f\u094b\u0917 \u0938\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0905\u0927\u093f\u0915 \u0916\u0930\u0940\u0926\u0947 \u0939\u0941\u090f (\u0913\u0935\u0930\u092c\u0949\u091f/ overbought) \u0914\u0930 \u0905\u0927\u093f\u0915 \u092c\u093f\u0915\u0947 \u0939\u0941\u090f (\u0913\u0935\u0930\u0938\u094b\u0932\u094d\u0921/ oversold) \u0915\u0940\u092e\u0924 \u0935\u093e\u0932\u0947 \u0915\u094d\u0937\u0947\u0924\u094d\u0930 \u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948\u0964 \u0913\u0935\u0930\u092c\u0949\u091f \u0915\u093e \u0905\u0930\u094d\u0925 \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926 \u0915\u093e \u092f\u093e\u0928\u0940 \u092a\u0949\u091c\u093f\u091f\u093f\u0935 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0907\u0924\u0928\u093e \u0905\u0927\u093f\u0915 \u0939\u0948 \u0915\u093f \u092f\u0939 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0924\u0915 \u091f\u093f\u0915 \u0928\u0939\u0940\u0902 \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u092e\u0947\u0902 \u0915\u0930\u0947\u0915\u094d\u0936\u0928 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939, \u090f\u0915 \u0913\u0935\u0930\u0938\u094b\u0932\u094d\u0921 \u0938\u094d\u0925\u093f\u0924\u093f \u092c\u0924\u093e\u0924\u0940 \u0939\u0948 \u0915\u093f \u0928\u093f\u0917\u0947\u091f\u093f\u0935 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0915\u093e\u092b\u0940 \u0905\u0927\u093f\u0915 \u0939\u0948 \u090f\u0915 \u0930\u093f\u0935\u0930\u094d\u0938\u0932 \u0938\u0902\u092d\u0935 \u0939\u0948\u0964", "\u0938\u093f\u092a\u094d\u0932\u093e \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u090f\u0915 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0947\u0902, \u0906\u092a\u0915\u094b \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0926\u093f\u0932\u091a\u0938\u094d\u092a \u0918\u091f\u0928\u093e\u0915\u094d\u0930\u092e \u092e\u093f\u0932\u0947\u0902\u0917\u0947\u0964", "", "\u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0947, \u092a\u094d\u0930\u093e\u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0932\u093e\u0932 \u0930\u0947\u0916\u093e 14 \u0905\u0935\u0927\u093f RSI \u0926\u093f\u0916\u093e \u0930\u0939\u0940 \u0939\u0948\u0964 \u092f\u0926\u093f \u0906\u092a RSI \u0915\u0947 \u092a\u0948\u092e\u093e\u0928\u0947 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a\u0915\u094b \u0907\u0938\u0915\u0940 \u090a\u092a\u0930\u0940 \u0938\u0940\u092e\u093e 100 \u0924\u0915 \u092e\u0939\u0938\u0942\u0938 \u0939\u094b\u0917\u0940, \u0914\u0930 \u0928\u093f\u091a\u0932\u0940 0 \u0924\u0915\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f 100 \u0914\u0930 0 \u0906\u092a\u0915\u094b \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0908 \u0928\u0939\u0940\u0902 \u0926\u0947\u0902\u0917\u0947\u0964", "\u091c\u092c RSI \u0930\u0940\u0921\u093f\u0902\u0917 30 \u0938\u0947 0 \u0915\u0947 \u092c\u0940\u091a \u0939\u094b\u0924\u0940 \u0939\u0948, \u0924\u094b \u0938\u094d\u091f\u0949\u0915 \u0913\u0935\u0930\u0938\u094b\u0932\u094d\u0921 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0915\u0930\u0947\u0915\u094d\u0936\u0928 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u091c\u092c \u0930\u0940\u0921\u093f\u0902\u0917 70 \u0938\u0947 100 \u0915\u0947 \u092c\u0940\u091a \u0939\u094b\u0924\u0940 \u0939\u0948, \u0924\u094b \u0938\u094d\u091f\u0949\u0915 \u092d\u093e\u0930\u0940 \u092e\u093e\u0924\u094d\u0930\u093e \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u093e \u091c\u093e \u091a\u0941\u0915\u093e \u0939\u0948 \u092f\u093e\u0928\u0940 \u0913\u0935\u0930\u092c\u0949\u091f \u0939\u0948 \u0914\u0930 \u092f\u0939 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0913\u0930 \u0915\u0930\u0947\u0915\u094d\u0936\u0928 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0964", "\u092c\u093e\u0908\u0902 \u0913\u0930 \u0938\u0947 \u091a\u093f\u0939\u094d\u0928\u093f\u0924 \u092a\u0939\u0932\u0940 \u0916\u0921\u093c\u0940 \u0930\u0947\u0916\u093e (vertical line) \u090f\u0915 \u0938\u094d\u0924\u0930 \u0926\u093f\u0916\u093e\u0924\u0940 \u0939\u0948 \u091c\u0939\u093e\u0902 RSI 30 \u0938\u0947 \u0928\u0940\u091a\u0947 \u0939\u0948, \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 RSI 26.8 \u0939\u0948\u0964 \u092e\u0924\u0932\u092c RSI \u0938\u0941\u091d\u093e\u0935 \u0926\u0947 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0913\u0935\u0930\u0938\u094b\u0932\u094d\u0921 \u0939\u0948\u0964 \u0907\u0938 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902, 26.8 \u0915\u093e RSI \u092e\u0942\u0932\u094d\u092f, \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0938\u093e\u0925 \u091c\u0941\u0921\u093c \u0930\u0939\u093e \u0939\u0948\u0964 \u092f\u0939 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0932\u093e\u0902\u0917 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0926\u094b\u0939\u0930\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0926\u0947\u0924\u093e \u0939\u0948! \u0915\u0939\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0915\u093f \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0914\u0930 S&R \u0915\u094b \u092d\u0940 \u0907\u0938\u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964", "\u0926\u0942\u0938\u0930\u0940 \u0916\u0921\u093c\u0940 \u0930\u0947\u0916\u093e (vertical line) \u0909\u0938 \u0938\u094d\u0924\u0930 \u0915\u0940 \u0913\u0930 \u0907\u0936\u093e\u0930\u093e \u0915\u0930\u0924\u0940 \u0939\u0948 \u091c\u0939\u093e\u0902 RSI 81 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948, \u091c\u093f\u0938 \u091c\u0917\u0939 \u0907\u0938\u0947 \u0913\u0935\u0930\u092c\u0949\u091f \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f, \u092f\u0926\u093f \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e \u0928 \u0939\u094b \u0924\u094b \u092b\u093f\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0907\u0938 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0905\u092a\u0928\u0947 \u0928\u093f\u0930\u094d\u0923\u092f \u092e\u0947\u0902 \u0938\u093e\u0935\u0927\u093e\u0928\u0940 \u092c\u0930\u0924\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u092f\u0926\u093f \u0906\u092a \u092b\u093f\u0930 \u0915\u0948\u0902\u0921\u0932 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0935\u0947 \u090f\u0915 \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u093e\u0924\u0947 \u0926\u093f\u0916\u0947\u0902\u0917\u0947\u0964 \u0924\u094b \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0914\u0930 81 \u0915\u093e RSI \u092e\u093f\u0932 \u0915\u0930 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u0902\u0915\u0947\u0924 \u0926\u0947 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u090f\u0915 \u0924\u0947\u091c \u0914\u0930 \u090f\u0915 \u091b\u094b\u091f\u093e \u0915\u0930\u0947\u0915\u094d\u0936\u0928 \u0939\u0948\u0964", "\u092e\u0948\u0902\u0928\u0947 \u092f\u0939\u093e\u0902 \u091c\u094b \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u093f\u0916\u093e\u092f\u093e \u0939\u0948 \u0935\u0939 \u0915\u093e\u092b\u0940 \u0905\u091a\u094d\u091b\u093e \u0939\u0948, \u091c\u093f\u0938\u0915\u093e \u0905\u0930\u094d\u0925 \u0939\u0948 \u0915\u093f \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0914\u0930 RSI \u0926\u094b\u0928\u094b\u0902 \u090f\u0915 \u0939\u0940 \u0918\u091f\u0928\u093e \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0938\u093e\u092e\u0902\u091c\u0938\u094d\u092f \u092e\u0947\u0902 \u0939\u0948\u0902\u0964 \u0939\u092e\u0947\u0936\u093e \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 RSI \u0915\u0940 \u0935\u094d\u092f\u093e\u0916\u094d\u092f\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u090f\u0915 \u0914\u0930 \u0926\u093f\u0932\u091a\u0938\u094d\u092a \u0924\u0930\u0940\u0915\u0947 \u0915\u0940 \u0924\u0930\u092b \u0932\u0947 \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0928\u093f\u092e\u094d\u0928\u0932\u093f\u0916\u093f\u0924 \u0926\u094b \u092a\u0930\u093f\u0926\u0943\u0936\u094d\u092f\u094b\u0902 \u0915\u0940 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0930\u0947\u0902:", "\u092a\u0930\u093f\u0926\u0943\u0936\u094d\u092f 1) \u200b\u200b\u090f\u0915 \u0938\u094d\u091f\u0949\u0915 \u091c\u094b \u0928\u093f\u0930\u0902\u0924\u0930 \u0905\u092a\u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u0939\u0948 (\u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0905\u092a\u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0941\u091b \u0926\u093f\u0928\u094b\u0902 \u0938\u0947 \u0915\u0941\u091b \u0935\u0930\u094d\u0937\u094b\u0902 \u0924\u0915 \u0930\u0939 \u0938\u0915\u0924\u093e \u0939\u0948) \u0915\u093e RSI \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0924\u0915 \u0913\u0935\u0930\u092c\u0949\u091f \u0915\u094d\u0937\u0947\u0924\u094d\u0930 \u092e\u0947\u0902 \u0905\u091f\u0915\u093e \u0930\u0939 \u0938\u0915\u0924\u093e \u0939\u0948, \u0907\u0938\u0915\u0940 \u0935\u091c\u0939 \u092f\u0939 \u0939\u0948 \u0915\u093f RSI \u090a\u092a\u0930\u0940 \u0938\u093f\u0930\u0947 \u092a\u0930 100 \u0938\u0947 \u092c\u0902\u0927\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u092f\u0939 100 \u0915\u0947 \u092a\u093e\u0930 \u0928\u0939\u0940\u0902 \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u0905\u0935\u0938\u0930\u094b\u0902 \u0915\u094b \u0926\u0947\u0916 \u0930\u0939\u093e \u0939\u094b\u0917\u093e \u0932\u0947\u0915\u093f\u0928 \u0926\u0942\u0938\u0930\u0940 \u0913\u0930 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915 \u0905\u0932\u0917 \u091c\u093c\u094b\u0928 \u092e\u0947\u0902 \u0939\u094b\u0917\u093e\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u2013 \u0906\u092f\u0936\u0930 \u092e\u094b\u091f\u0930\u094d\u0938 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u0938\u094d\u091f\u0949\u0915 \u0928\u0947 \u0935\u0930\u094d\u0937 \u0926\u0930 \u0935\u0930\u094d\u0937 \u0932\u0917\u092d\u0917 100% \u0915\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0926\u093f\u092f\u093e \u0939\u0948\u0964", "\u092a\u0930\u093f\u0926\u0943\u0936\u094d\u092f 2) \u090f\u0915 \u0938\u094d\u091f\u0949\u0915 \u091c\u094b \u0928\u093f\u0930\u0902\u0924\u0930 \u0917\u093f\u0930\u093e\u0935\u091f \u092e\u0947\u0902 \u0939\u0948 \u0909\u0938\u0915\u093e RSI \u0913\u0935\u0930\u0938\u094b\u0932\u094d\u0921 \u0915\u094d\u0937\u0947\u0924\u094d\u0930 \u092e\u0947\u0902 \u0905\u091f\u0915 \u091c\u093e\u090f\u0917\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f RSI 0 \u0938\u0947 \u0915\u092e \u0928\u0939\u0940\u0902 \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 \u0916\u0930\u0940\u0926 \u0915\u0947 \u0905\u0935\u0938\u0930\u094b\u0902 \u0915\u0940 \u0924\u0932\u093e\u0936 \u092e\u0947\u0902 \u0930\u0939\u0947\u0917\u093e \u0932\u0947\u0915\u093f\u0928 \u0938\u094d\u091f\u0949\u0915 \u0928\u0940\u091a\u0947 \u0917\u093f\u0930\u0924\u093e \u091c\u093e \u0930\u0939\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u2013 \u0938\u0941\u091c\u0932\u0949\u0928 \u090f\u0928\u0930\u094d\u091c\u0940, \u0907\u0938 \u0938\u094d\u091f\u0949\u0915 \u0928\u0947 \u0935\u0930\u094d\u0937 \u0926\u0930 \u0935\u0930\u094d\u0937 34% \u0915\u093e \u0928\u093f\u0917\u0947\u091f\u093f\u0935 \u0930\u093f\u091f\u0930\u094d\u0928 \u0926\u093f\u092f\u093e \u0939\u0948\u0964", "\u092f\u0939 \u0939\u092e\u0947\u0902 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f RSI \u0915\u0940 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u0915\u094d\u0932\u093e\u0938\u093f\u0915 \u0935\u094d\u092f\u093e\u0916\u094d\u092f\u093e \u0939\u0940 \u0928\u0939\u0940\u0902 \u092c\u0932\u094d\u0915\u093f \u0915\u0908 \u0914\u0930 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0924\u0930\u0940\u0915\u094b\u0902 \u0938\u0947 \u0935\u094d\u092f\u093e\u0916\u094d\u092f\u093e \u0915\u0940 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "RSI \u0915\u093e \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u0930\u0924\u0947 \u0938\u092e\u092f \u0909\u092a\u092f\u094b\u0917 \u0915\u093f\u090f \u0917\u090f \u092e\u093e\u092a\u0926\u0902\u0921\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u0915\u094b\u0908 \u092d\u0940 \u091c\u0921\u093c\u0924\u093e \u0915\u0947 \u0938\u093e\u0925 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0928\u0939\u0940\u0902 \u0915\u093f\u092f\u093e \u091c\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u091c\u0947.\u0935\u0947\u0932\u094d\u0938 \u0935\u093e\u0907\u0932\u094d\u0921\u0930 \u0928\u0947 14 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0932\u0941\u0915 \u092c\u0948\u0915 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0928\u0947 \u0915\u093e \u0935\u093f\u0915\u0932\u094d\u092a \u091a\u0941\u0928\u093e, \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u0928\u0947 1978 \u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u093f\u092f\u094b\u0902 (\u091c\u092c RSI \u0915\u094b \u0926\u0941\u0928\u093f\u092f\u093e \u092e\u0947\u0902 \u092a\u0947\u0936 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0925\u093e) \u092a\u0930 \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u0930\u0924\u0947 \u0939\u0941\u090f \u0938\u0930\u094d\u0935\u094b\u0924\u094d\u0924\u092e \u092a\u0930\u093f\u0923\u093e\u092e \u0926\u093f\u090f\u0964 \u0906\u092a \u091a\u093e\u0939\u0947\u0902 \u0924\u094b 5,10,20 \u092f\u093e 100 \u0926\u093f\u0928 \u0915\u0940 \u0905\u0935\u0927\u093f \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0906\u092a \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u0915\u094b \u0935\u093f\u0915\u0938\u093f\u0924 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u094b \u092f\u0939 \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u0930\u0928\u0947 \u0915\u0940 \u0906\u0935\u0936\u094d\u092f\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0915\u094d\u092f\u093e \u0938\u0939\u0940 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0940 \u0915\u094b \u0905\u092a\u0928\u093e\u090f\u0902\u0964 \u0915\u0943\u092a\u092f\u093e \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f RSI \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u091c\u093f\u0924\u0928\u0947 \u0915\u092e \u0926\u093f\u0928\u094b\u0902 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0909\u0924\u0928\u093e \u0905\u0927\u093f\u0915 \u0905\u0938\u094d\u0925\u093f\u0930 \u0939\u094b\u0917\u093e\u0964", "\u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e, \u091c\u0947.\u0935\u0947\u0932\u094d\u0938 \u0935\u093e\u0907\u0932\u094d\u0921\u0930 \u0928\u0947 \u0913\u0935\u0930\u092c\u0949\u091f \u0930\u0940\u091c\u0928 \u0915\u094b \u0926\u093f\u0916\u093e\u0928\u0947\u00a0 \u0915\u0947 \u0932\u093f\u090f \u0913\u0935\u0930\u0938\u094b\u0932\u094d\u0921 \u0915\u094d\u0937\u0947\u0924\u094d\u0930\u094b\u0902 \u0914\u0930 70-100 \u0915\u0947 \u0938\u094d\u0924\u0930 \u0915\u094b \u0907\u0902\u0917\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f 0-30 \u0938\u094d\u0924\u0930 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0928\u0947 \u0915\u093e \u0928\u093f\u0930\u094d\u0923\u092f \u0932\u093f\u092f\u093e\u0964 \u092b\u093f\u0930 \u0938\u0947 \u0915\u0939\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u092f\u0939 \u092a\u0924\u094d\u0925\u0930 \u0915\u0940 \u0932\u0915\u0940\u0930 \u0928\u0939\u0940\u0902 \u0939\u0948, \u0906\u092a \u0905\u092a\u0928\u0947 \u0938\u0902\u092f\u094b\u091c\u0928 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u0948\u0902 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0930\u0942\u092a \u0938\u0947 \u0915\u094d\u0930\u092e\u0936\u0903 \u0913\u0935\u0930\u0938\u094b\u0932\u094d\u0921 \u0914\u0930 \u0913\u0935\u0930\u092c\u0949\u091f \u0915\u094d\u0937\u0947\u0924\u094d\u0930\u094b\u0902 \u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f 0-20 \u0938\u094d\u0924\u0930 \u0914\u0930 80-100 \u0938\u094d\u0924\u0930 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0928\u093e \u092a\u0938\u0902\u0926 \u0915\u0930\u0924\u093e \u0939\u0942\u0902\u0964 \u092e\u0948\u0902 \u0907\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0936\u093e\u0938\u094d\u0924\u094d\u0930\u0940\u092f \u092f\u093e\u0928\u0940 \u0915\u094d\u0932\u093e\u0938\u093f\u0915 14 \u0926\u093f\u0928 \u0915\u0947 \u0932\u0941\u0915 \u092c\u0948\u0915 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u0947 \u0938\u093e\u0925 \u0915\u0930\u0924\u093e \u0939\u0942\u0902\u0964 \u092c\u0947\u0936\u0915, \u092e\u0948\u0902 \u0906\u092a\u0938\u0947 \u0909\u0928 \u092e\u093e\u092a\u0926\u0902\u0921\u094b\u0902 \u0915\u093e \u092a\u0924\u093e \u0932\u0917\u093e\u0928\u0947 \u0915\u093e \u0906\u0917\u094d\u0930\u0939 \u0915\u0930\u0924\u093e \u0939\u0942\u0902 \u091c\u094b \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u092f\u0939\u0940 \u0939\u0948 \u0915\u093f \u091c\u094b \u0906\u092a \u0905\u0902\u0924\u0924\u0903 \u090f\u0915 \u0938\u092b\u0932 \u0935\u094d\u092f\u093e\u092a\u093e\u0930\u0940 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0935\u093f\u0915\u0938\u093f\u0924 \u0915\u0930\u0947\u0917\u093e\u0964", "\u0905\u0902\u0924 \u092e\u0947\u0902, \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0905\u0915\u094d\u0938\u0930 RSI \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0905\u0915\u0947\u0932\u0947 \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0905\u0927\u094d\u092f\u092f\u0928 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0907\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0926\u0942\u0938\u0930\u0947 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0914\u0930 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u0915\u0947 \u0938\u093e\u0925 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "", "plz rsi chart insert", "Dhanyavad aapko rsi ko batane k liye\nkripaya bataye ki rsi k saath kon sa indicator prayog kare jisse ki trade ko aaur adhik safal banaya ja sake\njisse ki fake signal bhi na generate ho.\nkisi ek ya do aur indicator ko batye jo rsi k sath accha work kareeee\u2026..\nDhanyavad \u2026\u2026\u2026\u2026\u2026", "RSI \u0939\u0940 \u090f\u0915 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0939\u0948, \u0909\u0938\u0915\u0947 \u0938\u093e\u0925 \u0915\u094b\u0908 \u0914\u0930 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0932\u0917\u093e\u0928\u093e \u092f\u093e \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u0947 \u090a\u092a\u0930 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0932\u0917\u093e\u0928\u093e \u0938\u0939\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964", "thanks\nho sake to rsi k bare aur adhik deep knowledge ko share kijiye \u2026\naap se jitna adhik ho sake \u2026", "q ki aap se accha aur fact knowledge kahi aur nahi milega \u2026", "y a koi acchi book ka name share kijiye jise mai le saku\u2026", "zerodha ki pure team ko meri taraf se dhanyavad \u2026", "Hi Vineet, \u0927\u0928\u094d\u092f\u0935\u093e\u0926, \u0939\u092e \u0906\u092a\u0915\u0947 \u092b\u0940\u0921\u092c\u0948\u0915 \u092a\u0930 \u095b\u0930\u0942\u0930 \u0928\u095b\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947\u0964", "good for knolwedge\npar ek confusion he agar RSi 30 to 70 ke bich hua to use kya mana jana chahiye? overbought ya oversold.\nthanj you.", "\u0905\u0917\u0930 RSI 30 \u0914\u0930 60 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0939\u0948 \u0924\u094b\u0939 \u092f\u0939 \u092e\u0928 \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u0940 \u0936\u0947\u092f\u0930\u094d\u0938 \u0905\u092a\u0928\u0947 \u0915\u0930\u0902\u091f \u0932\u0947\u0935\u0932\u094d\u0938 \u0938\u0947 \u090a\u092a\u0930 \u091c\u092f\u0947\u0928\u094d\u0917\u0947\u0964", "You give very good knowledge to everyone", "Thank you, please spread the word \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch14-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch14-Chart1-300x133.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch14-Chart2.jpg", "https://secure.gravatar.com/avatar/dcd382d0895cba6ce4abdca8d0dceb81?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/95ecd01c88aded431ded168346a0f611?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/95ecd01c88aded431ded168346a0f611?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3763edebead7b4879896b2dd328334c7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6c34c0bcfce7c3b79629f46b32538748?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e \u0938\u0902</th>\n<th>\u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u092a\u094d\u0930\u093e\u0907\u0938</th>\n<th>\u092a\u094d\u0935\u093e\u0907\u0902\u091f\u094d\u0938 \u092c\u0922\u0924</th>\n<th>\u092a\u094d\u0935\u093e\u0907\u0902\u091f\u094d\u0938 \u0928\u0941\u0915\u0938\u093e\u0928</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>100</td>\n<td>1</td>\n<td>0</td>\n</tr>\n<tr>\n<td>2</td>\n<td>102</td>\n<td>2</td>\n<td>0</td>\n</tr>\n<tr>\n<td>3</td>\n<td>105</td>\n<td>3</td>\n<td>0</td>\n</tr>\n<tr>\n<td>4</td>\n<td>107</td>\n<td>2</td>\n<td>0</td>\n</tr>\n<tr>\n<td>5</td>\n<td>103</td>\n<td>0</td>\n<td>4</td>\n</tr>\n<tr>\n<td>6</td>\n<td>100</td>\n<td>0</td>\n<td>3</td>\n</tr>\n<tr>\n<td>7</td>\n<td>99</td>\n<td>0</td>\n<td>1</td>\n</tr>\n<tr>\n<td>8</td>\n<td>97</td>\n<td>0</td>\n<td>2</td>\n</tr>\n<tr>\n<td>9</td>\n<td>100</td>\n<td>3</td>\n<td>0</td>\n</tr>\n<tr>\n<td>10</td>\n<td>105</td>\n<td>5</td>\n<td>0</td>\n</tr>\n<tr>\n<td>11</td>\n<td>107</td>\n<td>2</td>\n<td>0</td>\n</tr>\n<tr>\n<td>12</td>\n<td>110</td>\n<td>3</td>\n<td>0</td>\n</tr>\n<tr>\n<td>13</td>\n<td>114</td>\n<td>4</td>\n<td>0</td>\n</tr>\n<tr>\n<td>14</td>\n<td>118</td>\n<td>4</td>\n<td>0</td>\n</tr>\n<tr>\n<td><strong>\u0915\u0941\u0932</strong></td>\n<td></td>\n<td><strong>29</strong></td>\n<td><strong>10</strong></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "15. \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 -\u092d\u093e\u0917 2", "text": ["", "\u0938\u0924\u094d\u0924\u0930 \u0915\u0947 \u0926\u0936\u0915 \u0915\u0947 \u0905\u0902\u0924 \u092e\u0947\u0902 \u091c\u0947\u0930\u093e\u0932\u094d\u0921 \u090f\u092a\u0947\u0932 \u0928\u0947 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0928\u094d\u0935\u0930\u094d\u091c\u0947\u0902\u0938 \u090f\u0902\u0921 \u0921\u093e\u0907\u0935\u0930\u094d\u091c\u0947\u0902\u0938 (MACD) \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0935\u093f\u0915\u0938\u093f\u0924 \u0915\u093f\u092f\u093e \u0925\u093e\u0964 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 MACD \u0915\u094b \u0938\u092c\u0938\u0947 \u092a\u0941\u0930\u093e\u0928\u093e \u0914\u0930 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u092e\u093e\u0928\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u0906\u0935\u093f\u0937\u094d\u0915\u093e\u0930 \u0938\u0924\u094d\u0924\u0930 \u0915\u0947 \u0926\u0936\u0915 \u092e\u0947\u0902 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0925\u093e, \u0932\u0947\u0915\u093f\u0928 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092d\u0940 \u092d\u0940 MACD \u0915\u094b \u0938\u092c\u0938\u0947 \u0935\u093f\u0936\u094d\u0935\u0938\u0928\u0940\u092f \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u092e\u093e\u0928\u0924\u0947 \u0939\u0948\u0902\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0928\u093e\u092e \u0938\u0947 \u092d\u0940 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948, MACD \u0926\u094b \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c\u0947\u0938 \u0915\u0947 \u090f\u0915 \u091c\u0917\u0939 \u092e\u093f\u0932\u0928\u0947 (\u0938\u0902\u092e\u093f\u0932\u0928\u2013 Convergence) \u0914\u0930 \u0905\u0902\u0924\u0930 (\u0935\u093f\u091a\u0932\u0928\u2013 Divergence) \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u0948\u0964 \u0938\u0902\u092e\u093f\u0932\u0928 \u0924\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0926\u094b \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u090f\u0915 \u0926\u0942\u0938\u0930\u0947 \u0915\u0940 \u0913\u0930 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902, \u0914\u0930 \u090f\u0915 \u0935\u093f\u091a\u0932\u0928 \u0924\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u090f\u0915 \u0926\u0942\u0938\u0930\u0947 \u0938\u0947 \u0926\u0942\u0930 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964", "\u090f\u0915 \u0906\u092e MACD \u0915\u0940 \u0917\u0923\u0928\u093e 12 \u0926\u093f\u0928 EMA \u0914\u0930 26 \u0926\u093f\u0928 EMA \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0915\u0947 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0915\u0943\u092a\u092f\u093e \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0915\u093f \u0926\u094b\u0928\u094b\u0902 EMA \u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0939\u0948\u0902\u0964 \u0938\u0902\u092e\u093f\u0932\u0928 \u0914\u0930 \u0935\u093f\u091a\u0932\u0928 (Convergence & Divergence \u2013 CD) \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e 12 \u0926\u093f\u0928 EMA \u0938\u0947 26 EMA \u0918\u091f\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u090f\u0915 \u0938\u0930\u0932 \u0930\u0947\u0916\u093e \u0917\u094d\u0930\u093e\u092b \u0905\u0915\u094d\u0938\u0930 \u2018MACD \u0932\u093e\u0907\u0928\u2019 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u091c\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092a\u0939\u0932\u0947 \u0917\u0923\u0928\u093e \u0938\u092e\u091d \u0932\u0947\u0902 \u0914\u0930 \u092b\u093f\u0930 MACD \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964", "\u0939\u092e \u090a\u092a\u0930 \u0915\u0940 \u0924\u093e\u0932\u093f\u0915\u093e \u092a\u0930 \u092c\u093e\u0908\u0902 \u0913\u0930 \u0938\u0947 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902:", "\u091c\u092c \u0939\u092e 12 \u0914\u0930 26 \u0926\u093f\u0928 EMA \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 MACD \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0947 \u090f\u0915 \u0930\u0947\u0916\u093e \u0917\u094d\u0930\u093e\u092b \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u092a\u094d\u0932\u0949\u091f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0939\u092e\u0947\u0902 MACD \u0932\u093e\u0907\u0928 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948, \u091c\u094b \u0915\u0947\u0902\u0926\u094d\u0930\u0940\u092f \u0930\u0947\u0916\u093e \u0915\u0947 \u090a\u092a\u0930 \u0914\u0930 \u0928\u0940\u091a\u0947 \u0918\u0942\u092e\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0964", ": 400;\u201d>MACD", "\u092e\u0942\u0932\u094d\u092f \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926, \u0915\u0941\u091b \u092a\u094d\u0930\u0936\u094d\u0928\u094b\u0902 \u0915\u0947 \u0909\u0924\u094d\u0924\u0930 \u0926\u0947\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902:", "MACD \u0938\u0947 \u091c\u0941\u0921\u093c\u093e \u0938\u0902\u0915\u0947\u0924 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u091a\u093e\u0932 \u0915\u0940 \u0926\u093f\u0936\u093e \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092f\u0926\u093f 12 \u0926\u093f\u0928 EMA 6380 \u0939\u0948, \u0914\u0930 26 \u0926\u093f\u0928 EMA 6220 \u0939\u0948 \u0924\u094b MACD \u092e\u0942\u0932\u094d\u092f +160 \u0939\u0948\u0964 \u0905\u092c \u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u093f\u0938 \u092a\u0930\u093f\u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 12 \u0926\u093f\u0928 EMA 26 \u0926\u093f\u0928 EMA \u0938\u0947 \u0905\u0927\u093f\u0915 \u0939\u094b\u0917\u093e? \u0935\u0948\u0938\u0947 \u0939\u092e\u0928\u0947 \u0907\u0938 \u092a\u0930 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0927\u094d\u092f\u093e\u0928 \u0926\u093f\u092f\u093e \u0925\u093e\u0964 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u090f\u0935\u0930\u0947\u091c \u0906\u092e \u0924\u094c\u0930 \u092a\u0930 \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u090f\u0935\u0930\u0947\u091c \u0938\u0947 \u0905\u0927\u093f\u0915 \u0939\u094b\u0917\u093e \u0916\u093e\u0938\u0915\u0930 \u0924\u092c \u091c\u092c\u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u0915\u0940 \u0913\u0930 \u091a\u0932 \u0930\u0939\u0940 \u0939\u094b\u0964 \u092f\u0939 \u092d\u0940 \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u090f\u0935\u0930\u0947\u091c \u0939\u092e\u0947\u0936\u093e \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u090f\u0935\u0930\u0947\u091c \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u092e\u094c\u091c\u0942\u0926\u093e \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f (CMP) \u0915\u0947 \u092a\u094d\u0930\u0924\u093f \u0905\u0927\u093f\u0915 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e\u0936\u0940\u0932 \u0939\u094b\u0917\u093e\u0964 \u0907\u0938\u0932\u093f\u090f \u090f\u0915 \u092a\u0949\u091c\u093f\u091f\u093f\u0935 \u0938\u0902\u0915\u0947\u0924 \u0939\u092e\u0947\u0902 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u092a\u0949\u091c\u093f\u091f\u093f\u0935 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0939\u0948, \u0914\u0930 \u0938\u094d\u091f\u0949\u0915 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u092c\u0922\u093c \u0930\u0939\u093e \u0939\u0948\u0964 \u091c\u093f\u0924\u0928\u093e \u0905\u0927\u093f\u0915 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0909\u0924\u0928\u0940 \u0905\u0927\u093f\u0915 \u0909\u091b\u093e\u0932\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, +160 \u090f\u0915 \u0938\u0915\u093e\u0930\u093e\u0924\u094d\u092e\u0915 \u092a\u094d\u0930\u0935\u0943\u0924\u094d\u0924\u093f \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u092f\u0947 +120 \u0938\u0947 \u0905\u0927\u093f\u0915 \u092e\u091c\u092c\u0942\u0924 \u0939\u0948\u0964", "\u0939\u093e\u0932\u093e\u0902\u0915\u093f, \u092e\u0948\u0917\u094d\u0928\u0940\u091f\u094d\u092f\u0942\u0921 (Magnitude) \u0915\u0947 \u0938\u093e\u0925 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0938\u092e\u092f \u092f\u0947 \u0939\u092e\u0947\u0936\u093e \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0948\u0917\u094d\u0928\u0940\u091f\u094d\u092f\u0942\u0921 \u0915\u094b \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u092c\u0948\u0902\u0915 \u0928\u093f\u092b\u094d\u091f\u0940 \u091c\u0948\u0938\u0940 \u0915\u094b\u0908 \u091a\u0940\u091c \u091c\u093f\u0938\u0915\u0940 \u0916\u0941\u0926 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u0927\u093f\u0915 \u0939\u0948 \u0909\u0938\u0915\u0947 \u0932\u093f\u090f MACD \u0915\u093e \u092e\u0948\u0917\u094d\u0928\u0940\u091f\u094d\u092f\u0942\u0921 \u0909\u0924\u0928\u093e \u0939\u0940 \u0905\u0927\u093f\u0915 \u0939\u094b\u0917\u093e\u0964", "\u091c\u092c MACD \u0928\u093f\u0917\u0947\u091f\u093f\u0935 \u0939\u0948, \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f 12 \u0926\u093f\u0928 EMA 26 \u0926\u093f\u0928 EMA \u0938\u0947 \u0915\u092e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u092d\u0940 \u0928\u093f\u0917\u0947\u091f\u093f\u0935 \u0939\u0948\u0964 MACD \u0915\u093e \u092e\u0948\u0917\u094d\u0928\u0940\u091f\u094d\u092f\u0942\u0921 \u091c\u093f\u0924\u0928\u093e \u0939\u094b\u0917\u093e, \u0928\u093f\u0917\u0947\u091f\u093f\u0935 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u092e\u0947\u0902 \u0909\u0924\u0928\u0940 \u0905\u0927\u093f\u0915 \u0924\u093e\u0915\u0924 \u0939\u094b\u0917\u0940\u0964", "\u0926\u094b \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0915\u0947 \u092c\u0940\u091a \u0915\u0947 \u0905\u0902\u0924\u0930 \u0915\u094b MACD \u0938\u094d\u092a\u094d\u0930\u0947\u0921 (MACD Spread) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091c\u092c \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0915\u092e \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0924\u094b \u0938\u094d\u092a\u094d\u0930\u0947\u0921 \u0915\u092e \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u092c\u0922\u093c\u0928\u0947 \u092a\u0930 \u0938\u094d\u092a\u094d\u0930\u0947\u0921 \u092c\u0922\u093c \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0938\u0902\u092e\u093f\u0932\u0928 \u0914\u0930 \u0935\u093f\u091a\u0932\u0928 \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 MACD \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u092c\u0928\u093e\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0928\u094d\u0939\u0947\u0902 \u0905\u0915\u094d\u0938\u0930 MACD \u0932\u093e\u0907\u0928 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "1 \u091c\u0928\u0935\u0930\u0940 2014 \u0938\u0947 18 \u0905\u0917\u0938\u094d\u0924 2014 \u0924\u0915 \u0915\u0947 \u0921\u093e\u091f\u093e \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u0947 \u0932\u093f\u090f \u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u093e MACD \u0932\u093e\u0907\u0928 \u091a\u093e\u0930\u094d\u091f \u0928\u0940\u091a\u0947 \u0939\u0948\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f MACD \u0932\u093e\u0907\u0928 \u090f\u0915 \u091c\u0940\u0930\u094b \u0932\u093e\u0907\u0928 \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u0939\u0948\u0964 \u0907\u0938\u0947 \u2018\u0938\u0947\u0902\u091f\u0930 \u0932\u093e\u0907\u0928\u2019 \u092d\u0940 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 MACD \u0915\u0940 \u092e\u0942\u0932 \u0935\u094d\u092f\u093e\u0916\u094d\u092f\u093e \u092f\u0939 \u0939\u0948 \u0915\u093f:", "\u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u093e \u0924\u0930\u094d\u0915 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u0906\u092a MACD \u0930\u0947\u0916\u093e \u0915\u0947 \u0915\u0947\u0902\u0926\u094d\u0930 \u0930\u0947\u0916\u093e \u0915\u094b \u092a\u093e\u0930 \u0915\u0930\u0928\u0947 \u0915\u093e \u0907\u0902\u0924\u091c\u093e\u0930 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u0906 \u0930\u0939\u0940 \u091a\u093e\u0932 \u0932\u0917\u092d\u0917 \u0916\u0924\u094d\u092e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u093e \u092e\u094c\u0915\u093e \u0928\u0939\u0940\u0902 \u0930\u0939 \u091c\u093e\u0924\u093e\u0964 \u0907\u0938 \u0938\u092e\u0938\u094d\u092f\u093e \u0938\u0947 \u0928\u093f\u092a\u091f\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f MACD \u0932\u093e\u0907\u0928 \u092e\u0947\u0902 \u090f\u0915 \u092c\u0926\u0932\u093e\u0935 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092c\u0926\u0932\u093e\u0935 MACD \u092e\u0947\u0902 \u090f\u0915 \u0914\u0930 \u091a\u0940\u091c \u0915\u094b \u091c\u094b\u0921\u093c \u0915\u0930 \u0932\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u2013 9 \u0926\u093f\u0928 \u0915\u0940 \u0938\u093f\u0917\u094d\u0928\u0932 \u0932\u093e\u0907\u0928 \u0915\u094b \u091c\u094b\u0921\u093c \u0915\u0930\u0964 9 \u0926\u093f\u0928 \u0915\u0940 \u0938\u093f\u0917\u094d\u0928\u0932 \u0932\u093e\u0907\u0928 MACD \u0932\u093e\u0907\u0928 \u0915\u0940 \u090f\u0915 \u090f\u0915\u094d\u0938\u092a\u094b\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c (EMA) \u0939\u0948\u0964\u00a0 \u0924\u094b \u0939\u092e\u093e\u0930\u0947 \u092a\u093e\u0938 \u0926\u094b \u0932\u093e\u0907\u0928\u0947\u0902 \u0939\u0948\u0902:", "\u0907\u0928 \u0926\u094b \u0932\u093e\u0907\u0928 \u0915\u0947 \u0938\u093e\u0925, \u091f\u094d\u0930\u0947\u0921\u0930 \u0938\u0930\u0932 2 \u0932\u093e\u0907\u0928 \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0930\u0923\u0928\u0940\u0924\u093f \u092c\u0928\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u091c\u0948\u0938\u093e \u0915\u093f \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c\u0947\u0938 \u0915\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u092c\u0924\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948, \u0914\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0905\u092c \u0938\u0947\u0902\u091f\u0930 \u0932\u093e\u0907\u0928 \u0915\u094d\u0930\u0949\u0938 \u0913\u0935\u0930 \u0915\u093e \u0907\u0902\u0924\u091c\u093e\u0930 \u0928\u0939\u0940\u0902 \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u090f\u0936\u093f\u092f\u0928 \u092a\u0947\u0902\u091f\u094d\u0938 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u092a\u0930 MACD \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u0928\u0940\u091a\u0947 \u0939\u0948\u0964 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f MACD \u092e\u0942\u0932\u094d\u092f \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0928\u0940\u091a\u0947 \u0939\u0948\u0964", "", "\u092f\u0939\u093e\u0902 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 MACD \u0915\u0947 \u0938\u093e\u0927\u093e\u0930\u0923 \u092e\u093e\u092a\u0926\u0902\u0921\u094b\u0902 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0924\u093e \u0939\u0948:", "\u091a\u093e\u0930\u094d\u091f \u0915\u0940 \u0916\u0921\u093c\u0940 (vertical) \u0932\u093e\u0907\u0928\u0947\u0902 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u0940 \u0939\u0948\u0902 \u091c\u0939\u093e\u0902 \u092a\u0930 \u092f\u093e \u0924\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u092f\u093e \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u0938\u093e\u092e\u0928\u0947 \u0906\u092f\u093e \u0939\u0948\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u092c\u093e\u0908\u0902 \u0924\u0930\u092b \u0915\u0940 \u092a\u0939\u0932\u0940 \u0916\u0921\u093c\u0940 \u0932\u093e\u0907\u0928 \u090f\u0915 \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u0940 \u0939\u0948 \u091c\u0939\u093e\u0902 MACD \u0932\u093e\u0907\u0928 \u0938\u093f\u0917\u094d\u0928\u0932 \u0932\u093e\u0907\u0928 (9 \u0926\u093f\u0928 EMA) \u0915\u0947 \u0928\u0940\u091a\u0947 \u0939\u0948 \u0914\u0930 \u090f\u0915 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0938\u0941\u091d\u093e\u0924\u0940 \u0939\u0948\u0964", "\u092c\u093e\u0908\u0902 \u0924\u0930\u092b \u0915\u0940 \u0926\u0942\u0938\u0930\u0940 \u0916\u0921\u093c\u0940 (vertical) \u0932\u093e\u0907\u0928 \u090f\u0915 \u0910\u0938\u0947 \u0915\u094d\u0930\u0949\u0938\u0913\u0935\u0930 \u0915\u0940 \u0913\u0930 \u0907\u0936\u093e\u0930\u093e \u0915\u0930\u0924\u0940 \u0939\u0948 \u091c\u0939\u093e\u0902 MACD \u0932\u093e\u0907\u0928 \u0938\u093f\u0917\u094d\u0928\u0932 \u0932\u093e\u0907\u0928 \u0915\u0947 \u090a\u092a\u0930 \u0939\u0948, \u0907\u0938\u0932\u093f\u090f \u092f\u0939\u093e\u0902 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0905\u0935\u0938\u0930 \u0939\u0948\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u0906\u0917\u0947 \u092d\u0940 \u091a\u0932\u0924\u093e \u0939\u0948\u0964", "\u0915\u0943\u092a\u092f\u093e \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902, MACD \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0947 \u092e\u0942\u0932 \u092e\u0947\u0902 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c\u0947\u0938 \u0939\u0948\u0902\u0964 \u0907\u0938\u0932\u093f\u090f MACD \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u092e\u0947\u0902 \u090f\u0915 \u092e\u0942\u0935\u093f\u0902\u0917 \u090f\u0935\u0930\u0947\u091c \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u0947 \u0938\u092e\u093e\u0928 \u0939\u0940 \u0917\u0941\u0923 \u0939\u0948\u0902\u0964 \u091c\u092c \u090f\u0915 \u092e\u091c\u092c\u0942\u0924 \u091f\u094d\u0930\u0947\u0902\u0921 \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0935\u0947 \u0915\u093e\u092b\u0940 \u0905\u091a\u094d\u091b\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u091c\u092c \u092c\u093e\u091c\u093e\u0930 \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u092f\u093e \u092c\u093f\u0928\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u091a\u0932 \u0930\u0939\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092f\u0947 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u092c\u0939\u0941\u0924 \u0909\u092a\u092f\u094b\u0917\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0964 \u0906\u092a \u0907\u0938\u0947 \u092c\u093e\u0908\u0902 \u0913\u0930 \u0915\u0940 \u092a\u0939\u0932\u0940 \u0926\u094b \u0932\u093e\u0907\u0928 \u0915\u0947 \u092c\u0940\u091a \u0928\u094b\u091f\u093f\u0938 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "MACD \u0915\u0947 \u0928\u093f\u092f\u092e \u092e\u0947\u0902 \u0906\u092a \u092b\u0947\u0930\u092c\u0926\u0932 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u092a\u0928\u0940 \u091c\u0930\u0942\u0930\u0924 \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0906\u092a 12 \u0926\u093f\u0928 \u0914\u0930 26 \u0926\u093f\u0928 EMA \u0915\u0940 \u091c\u0917\u0939 \u0915\u094b\u0908 \u092d\u0940 \u0938\u092e\u092f \u0938\u0940\u092e\u093e \u0921\u093e\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0930\u0942\u092a \u0938\u0947 \u092e\u0948\u0902 MACD \u0915\u094b \u0905\u092a\u0928\u0947 \u092e\u0942\u0932 \u0930\u0942\u092a \u092e\u0947\u0902 \u0939\u0940 \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0928\u093e \u092a\u0938\u0902\u0926 \u0915\u0930\u0924\u093e \u0939\u0942\u0902, \u091c\u0948\u0938\u093e \u0915\u093f \u0917\u0947\u0930\u093e\u0932\u094d\u0921 \u090f\u092a\u0947\u0932 \u0926\u094d\u0935\u093e\u0930\u093e \u0907\u0938\u0947 \u092c\u0928\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "1980 \u0915\u0947 \u0926\u0936\u0915 \u092e\u0947\u0902 \u091c\u0949\u0928 \u092c\u094b\u0932\u093f\u0902\u0917\u0930 \u0926\u094d\u0935\u093e\u0930\u093e \u092a\u094d\u0930\u0938\u094d\u0924\u0941\u0924 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u092c\u094b\u0932\u093f\u0902\u0917\u0930 \u092c\u0948\u0902\u0921\u094d\u0938 (\u092c\u0940\u092c\u0940- BB) \u0938\u0902\u092d\u0935\u0924\u0903 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u0909\u092a\u092f\u094b\u0917 \u0915\u093f\u090f \u091c\u093e\u0928\u0947 \u0935\u093e\u0932\u0947 \u0938\u092c\u0938\u0947 \u0909\u092a\u092f\u094b\u0917\u0940 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0939\u0948\u0964 BB \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0913\u0935\u0930\u092c\u0949\u091f \u0914\u0930 \u0913\u0935\u0930\u0938\u094b\u0932\u094d\u0921 \u0938\u094d\u0924\u0930\u094b\u0902 \u0915\u094b \u0928\u093f\u0930\u094d\u0927\u093e\u0930\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948, \u091c\u0939\u093e\u0902 \u090f\u0915 \u0915\u0940\u092e\u0924 \u092c\u0948\u0902\u0921 \u0915\u0947 \u090a\u092a\u0930\u0940 \u0938\u094d\u0924\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0917\u093e \u0914\u0930 \u091c\u092c \u0915\u0940\u092e\u0924 \u0909\u0938\u0940 \u092c\u0948\u0902\u0921 \u0915\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u093f\u0930\u0947 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a\u0924\u0940 \u0939\u0948 \u0924\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0917\u093e\u0964", "BB \u0915\u0947 3 \u0918\u091f\u0915 \u0939\u0948\u0902:", "\u092e\u093e\u0928\u0915 \u0935\u093f\u091a\u0932\u0928 \u092f\u093e\u0928\u0940 \u0938\u094d\u091f\u0948\u0928\u094d\u0921\u0930\u094d\u0921 \u0921\u0947\u0935\u093f\u090f\u0936\u0928 (\u090f\u0938\u0921\u0940\u2013 SD) \u090f\u0915 \u0938\u093e\u0902\u0916\u094d\u092f\u093f\u0915\u0940\u092f \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0939\u0948; \u091c\u094b \u0915\u093f\u0938\u0940 \u0935\u093f\u0936\u0947\u0937 \u0935\u0948\u0930\u093f\u090f\u092c\u0932 \u0915\u0947 \u0935\u0948\u0930\u093f\u090f\u0902\u0938 \u092f\u093e\u0928\u0940 \u092a\u094d\u0930\u0938\u0930\u0923 \u0915\u094b \u0909\u0938\u0915\u0947 \u0914\u0938\u0924 \u0938\u0947 \u092e\u093e\u092a\u0924\u093e \u0939\u0948\u0964 \u092f\u093e\u0928\u0940 \u092f\u0947 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u094b \u0905\u092a\u0928\u0947 \u0914\u0938\u0924 \u0938\u0947 \u0915\u093f\u0924\u0928\u093e \u0926\u0942\u0930 \u0939\u0948\u0964 \u0938\u094d\u091f\u0949\u0915 \u092e\u0942\u0932\u094d\u092f \u0915\u093e \u0938\u094d\u091f\u0948\u0928\u094d\u0921\u0930\u094d\u0921 \u0921\u0947\u0935\u093f\u090f\u0936\u0928 \u0915\u093f\u0938\u0940 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928\u0936\u0940\u0932\u0924\u093e (volatility) \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u092f\u0926\u093f \u0915\u093f\u0938\u0940 \u0938\u094d\u091f\u0949\u0915 \u0915\u093e \u0938\u094d\u091f\u0948\u0928\u094d\u0921\u0930\u094d\u0921 \u0921\u0947\u0935\u093f\u090f\u0936\u0928 12% \u0939\u0948, \u0924\u094b \u092f\u0947 \u0915\u0939\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928\u0936\u0940\u0932\u0924\u093e (volatility) 12% \u0939\u0948\u0964", "BB \u092e\u0947\u0902, \u0938\u094d\u091f\u0948\u0928\u094d\u0921\u0930\u094d\u0921 \u0921\u0947\u0935\u093f\u090f\u0936\u0928 (SD) 20 \u0926\u093f\u0928 SMA \u092a\u0930 \u0932\u093e\u0917\u0942 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u090a\u092a\u0930\u0940 \u092c\u0948\u0902\u0921 +2 SD \u0915\u094b \u0907\u0902\u0917\u093f\u0924 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 +2 SD \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0915\u0947, \u0939\u092e SD \u0915\u094b 2 \u0938\u0947 \u0917\u0941\u0923\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0914\u0930 \u0907\u0938\u0947 \u0914\u0938\u0924 \u092e\u0947\u0902 \u091c\u094b\u0921\u093c\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092f\u0926\u093f 20 \u0926\u093f\u0928 SMA 7800 \u0939\u0948, \u0914\u0930 SD 75 (\u092f\u093e 0.96%) \u0939\u0948, \u0924\u094b +2 SD 7800 + (75 * 2) = 7950 \u0939\u094b\u0917\u093e\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939, \u090f\u0915 -2 SD\u00a0 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0939\u092e SD \u0915\u094b 2 \u0938\u0947 \u0917\u0941\u0923\u093e \u0915\u0930\u0947\u0902 \u0914\u0930 \u0907\u0938\u0947 \u0914\u0938\u0924 \u0938\u0947 \u0918\u091f\u093e\u090f\u0902\u0964 7800 \u2013 (2 * 75) = 7650\u0964", "\u0905\u092c \u0939\u092e\u093e\u0930\u0947 \u092a\u093e\u0938 BB \u0915\u0947 \u0918\u091f\u0915 \u0939\u0948\u0902:", "\u0938\u093e\u0902\u0916\u094d\u092f\u093f\u0915\u0940\u092f \u0930\u0942\u092a \u0938\u0947, \u092e\u094c\u091c\u0942\u0926\u093e \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f \u0915\u094b 7800 \u0915\u0947 \u0914\u0938\u0924 \u092e\u0942\u0932\u094d\u092f \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u0939\u0940 \u0930\u0939\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0932\u0947\u0915\u093f\u0928, \u092f\u0926\u093f \u092e\u094c\u091c\u0942\u0926\u093e \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f 7950 \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u0939\u0948, \u0924\u094b \u0907\u0938\u0947 \u0914\u0938\u0924 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u092e\u0939\u0902\u0917\u093e \u092e\u093e\u0928\u093e \u091c\u093e\u090f\u0917\u093e, \u0907\u0938\u0932\u093f\u090f \u092f\u0939\u093e\u0902 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0938\u093e\u0925 \u0939\u0940, \u092f\u0947 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930\u0928\u0940 \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0915\u0940\u092e\u0924 \u0905\u092a\u0928\u0947 \u0914\u0938\u0924 \u092e\u0942\u0932\u094d\u092f \u092a\u0930 \u0935\u093e\u092a\u0938 \u0906 \u091c\u093e\u090f\u0917\u0940\u0964", "\u0907\u0938\u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921 \u092c\u0928\u0947\u0917\u093e\u2013 7800 \u0915\u0947 \u0932\u0915\u094d\u0937\u094d\u092f \u0915\u0947 \u0938\u093e\u0925 7950 \u092a\u0930 \u092c\u0947\u091a\u0928\u093e \u0964", "\u0907\u0938\u0940 \u0924\u0930\u0939 \u0905\u0917\u0930 \u092e\u094c\u091c\u0942\u0926\u093e \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f 7650 \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u0939\u0948, \u0924\u094b \u0907\u0938\u0947 \u0914\u0938\u0924 \u0915\u0940\u092e\u0924\u094b\u0902 \u0915\u0947 \u0938\u0902\u0926\u0930\u094d\u092d \u092e\u0947\u0902 \u0938\u0938\u094d\u0924\u093e \u092e\u093e\u0928\u093e \u091c\u093e\u090f\u0917\u093e, \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0947 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0905\u0935\u0938\u0930 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u0947\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964\u0914\u0930 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930\u0928\u0940 \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0915\u0940\u092e\u0924\u0947\u0902 \u0914\u0938\u0924 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0935\u093e\u092a\u0938 \u0906 \u091c\u093e\u090f\u0902\u0917\u0940\u0964", "\u0907\u0938\u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921 \u0939\u094b\u0917\u093e\u2013 \u00a07800 \u0915\u0947 \u0932\u0915\u094d\u0937\u094d\u092f \u0915\u0947 \u0938\u093e\u0925 7650 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e\u0964", "\u0905\u092a\u0930 \u0914\u0930 \u0932\u094b\u0905\u0930 \u092c\u0948\u0902\u0921 \u091f\u094d\u0930\u0947\u0921 \u0936\u0941\u0930\u0942 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u091f\u094d\u0930\u093f\u0917\u0930 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0915\u093e\u0930\u094d\u092f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0928\u0940\u091a\u0947 BPCL \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u0939\u0948:", "", "\u0938\u0947\u0928\u094d\u091f\u094d\u0930\u0932 \u0915\u093e\u0932\u0940 \u0932\u093e\u0907\u0928 20 \u0926\u093f\u0928 \u0915\u0940 SMA (SIMPLE MOVING AVERAGE) \u0939\u0948\u0964 \u0915\u093e\u0932\u0940 \u0915\u0940 \u0924\u0930\u0939 \u090a\u092a\u0930 \u0914\u0930 \u0928\u0940\u091a\u0947 \u0926\u094b \u0932\u093e\u0932 \u0932\u093e\u0907\u0928\u0947\u0902 +2 SD \u0914\u0930 -2SD \u0939\u0948\u0902\u0964 \u091c\u092c \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930\u0940 \u092c\u0948\u0902\u0921 \u0915\u094b \u091b\u0942\u0924\u0940 \u0939\u0948 \u0924\u094b \u0907\u0938 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0947 \u0938\u093e\u0925 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u092f\u0939 \u0914\u0938\u0924 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0935\u093e\u092a\u0938 \u0906 \u091c\u093e\u090f\u0917\u0940\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u091c\u092c \u0915\u0940\u092e\u0924 \u0932\u094b\u0905\u0930 \u092c\u0948\u0902\u0921 \u0915\u094b \u091b\u0942\u0924\u0940 \u0939\u0948 \u0924\u094b \u0932\u093e\u0902\u0917 \u091c\u093e \u0938\u0915\u0924\u0947 \u0939\u0948 \u0914\u0930 \u092f\u0947 \u0909\u092e\u094d\u092e\u0940\u0926 \u0930\u0916\u0928\u0940 \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u092f\u0939 \u0914\u0938\u0924 \u092a\u0930 \u0935\u093e\u092a\u0938 \u0906 \u091c\u093e\u090f\u0917\u0940\u0964", "\u092e\u0948\u0902\u0928\u0947 BB \u0938\u0947 \u0928\u093f\u0915\u0932\u0928\u0947 \u0935\u093e\u0932\u0947 \u0909\u0928 \u0938\u092d\u0940 \u0938\u0902\u0915\u0947\u0924\u094b\u0902 \u0915\u094b \u0921\u093e\u0909\u0928 \u0910\u0930\u094b (Down Arrow) \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0939\u0948 \u091c\u094b \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902, \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0905\u0927\u093f\u0915\u093e\u0902\u0936 \u0938\u093f\u0917\u094d\u0928\u0932 \u0915\u093e\u092b\u0940 \u0905\u091a\u094d\u091b\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u0947 \u0925\u0947, \u0932\u0947\u0915\u093f\u0928 \u090f\u0915 \u0938\u092e\u092f \u0910\u0938\u093e \u092d\u0940 \u0925\u093e \u091c\u092c \u0915\u0940\u092e\u0924 \u090a\u092a\u0930\u0940 \u092c\u0948\u0902\u0921 \u0938\u0947 \u091a\u093f\u092a\u0915 \u0917\u092f\u0940 \u0925\u0940\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0932\u0917\u093e\u0924\u093e\u0930 \u090a\u0902\u091a\u0940 \u0939\u094b\u0924\u0940 \u091a\u0932\u0940 \u0917\u0908, \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u0915\u0940\u092e\u0924 \u0915\u0947 \u090a\u092a\u0930\u0940 \u092c\u0948\u0902\u0921 \u0915\u093e \u092d\u0940 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0939\u0941\u0906\u0964 \u0907\u0938\u0947 \u090f\u0928\u0935\u0947\u0932\u092a \u090f\u0915\u094d\u0938\u092a\u0948\u0902\u0936\u0928 (Envelope expansion) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "BB \u0915\u093e \u090a\u092a\u0930\u0940 \u0914\u0930 \u0928\u093f\u091a\u0932\u093e \u092c\u0948\u0902\u0921 \u090f\u0915 \u0938\u093e\u0925 \u092e\u093f\u0932\u0915\u0930 \u090f\u0928\u0935\u0947\u0932\u092a \u092c\u0928\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0928\u0935\u0947\u0932\u092a \u0915\u093e \u090f\u0915\u094d\u0938\u092a\u0948\u0902\u0936\u0928 \u0924\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0915\u0940\u092e\u0924 \u090f\u0915 \u0935\u093f\u0936\u0947\u0937 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u092e\u091c\u092c\u0942\u0924 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0915\u093e \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0924\u0940 \u0939\u0948\u0964 \u090f\u0915 \u090f\u0928\u0935\u0947\u0932\u092a \u090f\u0915\u094d\u0938\u092a\u0948\u0902\u0936\u0928 \u0939\u094b\u0928\u0947 \u092a\u0930 BB \u0915\u093e \u0938\u093f\u0917\u094d\u0928\u0932 \u0935\u093f\u092b\u0932 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u090f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0928\u093f\u0937\u094d\u0915\u0930\u094d\u0937 \u0928\u093f\u0915\u0932\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 BB \u0905\u091a\u094d\u091b\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948, \u0914\u0930 \u090f\u0915 \u091f\u094d\u0930\u0947\u0902\u0921 \u0935\u093e\u0932\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0935\u093f\u092b\u0932 \u0930\u0939\u0924\u093e \u0939\u0948\u0964", "\u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0930\u0942\u092a \u0938\u0947 \u092e\u0948\u0902 \u091c\u092c \u092d\u0940 BB \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0924\u093e \u0939\u0942\u0902 \u0924\u094b \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u091f\u094d\u0930\u0947\u0921 \u0924\u0941\u0930\u0902\u0924 \u092e\u0947\u0930\u0947 \u092a\u0915\u094d\u0937 \u092e\u0947\u0902 \u0928\u0924\u0940\u091c\u0947 \u0926\u093f\u0916\u093e\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930 \u0926\u0947\u0917\u093e\u0964 \u092f\u0926\u093f \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0939\u0948, \u0924\u094b \u092e\u0948\u0902 \u0926\u0947\u0916\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930 \u0926\u0947\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0915\u0939\u0940\u0902 \u090f\u0928\u0935\u0947\u0932\u092a \u090f\u0915\u094d\u0938\u092a\u0948\u0902\u0936\u0928 \u0924\u094b \u0928\u0939\u0940\u0902 \u0939\u094b \u0930\u0939\u093e \u0939\u0948\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0928\u0915\u0940 \u0938\u0942\u091a\u0940 \u0905\u0902\u0924\u0939\u0940\u0928 \u0939\u0948\u0964 \u0938\u0935\u093e\u0932 \u092f\u0939 \u0939\u0948 \u0915\u093f \u090f\u0915 \u0938\u092b\u0932 \u0935\u094d\u092f\u093e\u092a\u093e\u0930\u0940 \u0939\u094b\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u094d\u092f\u093e \u0906\u092a\u0915\u094b \u0907\u0928 \u0938\u092d\u0940 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u094b \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u093f\u090f? \u0909\u0924\u094d\u0924\u0930 \u0939\u0948\u2013 \u0928\u0939\u0940\u0902\u0964 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u094b \u091c\u093e\u0928\u0928\u093e \u0905\u091a\u094d\u091b\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0909\u0928\u0915\u094b \u0915\u092d\u0940 \u092d\u0940 \u0906\u092a\u0915\u0940 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u093e \u092e\u0941\u0916\u094d\u092f \u0909\u092a\u0915\u0930\u0923 \u0928\u0939\u0940\u0902 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u092e\u0948\u0902 \u0915\u0908 \u092e\u0939\u0924\u094d\u0935\u093e\u0915\u093e\u0902\u0915\u094d\u0937\u0940 \u091f\u094d\u0930\u0947\u0921\u0930\u094d\u0938 \u0938\u0947 \u092e\u093f\u0932\u093e \u0939\u0942\u0902 \u091c\u094b \u0935\u093f\u092d\u093f\u0928\u094d\u0928 \u0938\u0902\u0915\u0947\u0924\u0915\u094b\u0902 \u092f\u093e\u0928\u0940 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u094b \u0938\u0940\u0916\u0928\u0947 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u092e\u092f \u092c\u093f\u0924\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092e\u0947\u0939\u0928\u0924 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0932\u0947\u0915\u093f\u0928 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u092e\u0947\u0902 \u092f\u0939 \u0935\u094d\u092f\u0930\u094d\u0925 \u0939\u0940 \u0938\u093e\u092c\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0915\u0941\u091b \u092c\u0941\u0928\u093f\u092f\u093e\u0926\u0940 \u0938\u0902\u0915\u0947\u0924\u0915\u094b\u0902 \u0915\u0947 \u0915\u093e\u092e \u0915\u093e \u091c\u094d\u091e\u093e\u0928, \u091c\u0948\u0938\u0947 \u0915\u093f \u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0917\u0908 \u092a\u0930\u094d\u092f\u093e\u092a\u094d\u0924 \u0939\u0948\u0902\u0964", "\u0915\u0941\u091b \u0905\u0927\u094d\u092f\u093e\u092f \u092a\u0939\u0932\u0947 \u0938\u0947 \u0939\u092e\u0928\u0947 \u090f\u0915 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u093e \u0928\u093f\u0930\u094d\u092e\u093e\u0923 \u0936\u0941\u0930\u0942 \u0915\u093f\u092f\u093e \u091c\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u092f\u093e \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0928\u093f\u0930\u094d\u0923\u092f \u0915\u093e \u092e\u093e\u0930\u094d\u0917\u0926\u0930\u094d\u0936\u0928 \u0915\u0930 \u0938\u0915\u0947\u0964 \u0905\u092c \u0909\u0938 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u094b \u092b\u093f\u0930 \u0938\u0947 \u0926\u0947\u0916\u0928\u0947 \u0915\u093e \u0938\u092e\u092f \u0939\u0948\u0964", "\u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u092b\u0948\u0938\u0932\u094b\u0902 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0916\u0930\u0940\u0926\u0928\u0947 \u092f\u093e \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u0947 \u0938\u0902\u0915\u0947\u0924 \u0915\u094b \u091c\u093e\u0901\u091a \u0932\u0947\u0928\u093e \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u092a\u0930 \u0906\u092a S&R, \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092f\u093e \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u091c\u093f\u0924\u0928\u093e \u0928\u093f\u0930\u094d\u092d\u0930 \u0928\u0939\u0940\u0902 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0932\u0947\u0915\u093f\u0928 \u092f\u0947 \u091c\u093e\u0928\u0928\u093e \u0939\u092e\u0947\u0936\u093e \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u092e\u0942\u0932 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u094d\u092f\u093e \u0938\u0941\u091d\u093e\u0935 \u0926\u0947 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0938\u093f\u0930\u094d\u092b \u0907\u0938\u0940 \u0915\u093e\u0930\u0923 \u0938\u0947, \u092e\u0948\u0902 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092e\u0947\u0902 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u094b \u091c\u094b\u0921\u093c\u0928\u0947 \u0915\u0940 \u0938\u0932\u093e\u0939 \u0926\u0942\u0902\u0917\u093e, \u0932\u0947\u0915\u093f\u0928 \u090f\u0915 \u092c\u0926\u0932\u093e\u0935 \u0915\u0947 \u0938\u093e\u0925\u0964 \u092e\u0948\u0902 \u092c\u0926\u0932\u093e\u0935 \u0915\u094b \u0915\u0941\u091b \u0926\u0947\u0930 \u092e\u0947\u0902 \u0938\u092e\u091d\u093e\u090a\u0902\u0917\u093e, \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0938\u0947 \u092a\u0939\u0932\u0947 \u0939\u092e \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u094b \u0907\u0938 \u0928\u090f \u092c\u093f\u0928\u094d\u0926\u0941 \u0915\u0947 \u0938\u093e\u0925 \u092b\u093f\u0930 \u0938\u0947 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u0947 \u0926\u094b \u0938\u092c\u2013\u092a\u094d\u0935\u093e\u0907\u0902\u091f \u092e\u0947\u0902 \u0939\u0940 \u0909\u0920\u093e-\u092a\u091f\u0915 \u092f\u093e \u092b\u0947\u0930-\u092c\u0926\u0932 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0905\u092c \u090f\u0915 \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u0940 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0930\u0947\u0902 \u091c\u0939\u093e\u0902 \u0906\u092a \u0915\u0930\u094d\u0928\u093e\u091f\u0915 \u092c\u0948\u0902\u0915 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0905\u0935\u0938\u0930 \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915 \u0926\u093f\u0928, \u0915\u0930\u094d\u0928\u093e\u091f\u0915 \u092c\u0948\u0902\u0915 \u0928\u0947 \u090f\u0915 \u0939\u0948\u092e\u0930 \u092c\u0928\u093e\u092f\u093e \u0939\u0948 \u0914\u0930 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092a\u0930 \u092c\u093e\u0915\u0940 \u0939\u0930 \u091a\u0940\u091c \u092a\u0942\u0930\u0940 \u0939\u094b \u0930\u0939\u0940 \u0939\u0948:", "\u0938\u092d\u0940 \u091a\u093e\u0930 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u092a\u0942\u0930\u093e \u0939\u094b\u0924\u0947 \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092e\u0948\u0902 \u0916\u0941\u0936\u0940 \u0916\u0941\u0936\u0940 \u0915\u0930\u094d\u0928\u093e\u091f\u0915 \u092c\u0948\u0902\u0915 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0942\u0902\u0917\u093e\u0964 \u0907\u0938\u0932\u093f\u090f \u092e\u0948\u0902 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f 500 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0924\u093e \u0939\u0942\u0902\u0964", "\u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0906\u092a \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u0940 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0930\u0947\u0902 \u091c\u0939\u093e\u0902 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u0940 \u092a\u0939\u0932\u0940 3 \u0936\u0930\u094d\u0924\u0947\u0902 \u092a\u0942\u0930\u0940 \u0939\u094b\u0902 \u0932\u0947\u0915\u093f\u0928 \u091a\u094c\u0925\u0940 \u0936\u0930\u094d\u0924 (\u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0938\u0947 \u092d\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f) \u092a\u0942\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b \u0930\u0939\u0940 \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u092e\u0941\u091d\u0947 \u0915\u094d\u092f\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f?", "\u092e\u0948\u0902 \u0924\u092c \u092d\u0940 \u0916\u0930\u0940\u0926\u0924\u093e, \u0932\u0947\u0915\u093f\u0928 500 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0947 \u092c\u091c\u093e\u092f, \u0936\u093e\u092f\u0926 \u092e\u0948\u0902 300 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0924\u093e\u0964", "\u0907\u0938\u0938\u0947 \u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u092f\u0947 \u0938\u092e\u091d\u093e\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930 \u0930\u0939\u093e \u0939\u0942\u0902 \u0915\u093f \u092e\u0948\u0902 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930\u094d\u0938 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u092c \u0914\u0930 \u0915\u0948\u0938\u0947 \u0915\u0930\u0928\u0947 \u0915\u094b \u0915\u0939 \u0930\u0939\u093e \u0939\u0942\u0902\u0964", "\u091c\u092c \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u092e\u0948\u0902 \u0905\u092a\u0928\u0947 \u0911\u0930\u094d\u0921\u0930 \u0915\u093e \u0906\u0915\u093e\u0930 \u092c\u0922\u093c\u093e\u0924\u093e \u0939\u0942\u0902, \u0932\u0947\u0915\u093f\u0928 \u091c\u092c \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u092a\u0941\u0937\u094d\u091f\u093f \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092d\u0940 \u092e\u0948\u0902 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0905\u092a\u0928\u0947 \u0928\u093f\u0930\u094d\u0923\u092f \u0915\u0947 \u0938\u093e\u0925 \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u093e \u0939\u0942\u0902, \u0932\u0947\u0915\u093f\u0928 \u092e\u0948\u0902\u0928\u0947 \u0905\u092a\u0928\u0947 \u0911\u0930\u094d\u0921\u0930 \u0915\u093e \u0906\u0915\u093e\u0930 \u0915\u092e \u0915\u0930 \u0926\u093f\u092f\u093e\u0964", "\u0932\u0947\u0915\u093f\u0928 \u092e\u0948\u0902 \u092a\u0939\u0932\u0947 \u0924\u0940\u0928 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092a\u094d\u0935\u093e\u0907\u0902\u091f\u094d\u0938 \u0915\u0947 \u0938\u093e\u0925 \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0915\u0930\u0942\u0901\u0917\u093e\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u092f\u0926\u093f \u092c\u0941\u0932\u093f\u0936 \u0939\u0948\u092e\u0930 \u0915\u093e \u0932\u094b \u0938\u092a\u094b\u0930\u094d\u091f \u0915\u0947 \u0906\u0938-\u092a\u093e\u0938 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0939\u0948, \u0924\u094b \u092e\u0948\u0902 \u0938\u094d\u091f\u0949\u0915 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0905\u092a\u0928\u0940 \u092f\u094b\u091c\u0928\u093e \u092a\u0930 \u092a\u0941\u0928\u0930\u094d\u0935\u093f\u091a\u093e\u0930 \u0915\u0930\u0942\u0902\u0917\u093e\u0964 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u092e\u0948\u0902 \u0907\u0938 \u0905\u0935\u0938\u0930 \u0915\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u091b\u094b\u0921 \u0926\u0942\u0902 \u0914\u0930 \u0926\u0942\u0938\u0930\u0947 \u0905\u0935\u0938\u0930 \u0915\u0940 \u0924\u0932\u093e\u0936 \u0915\u0930\u0942\u0902\u0964", "\u0932\u0947\u0915\u093f\u0928 \u092e\u0948\u0902 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u092a\u0930 \u0907\u0938\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0935\u093f\u0936\u094d\u0935\u093e\u0938 \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u093e \u0939\u0942\u0902\u0964 \u092f\u0939 \u091c\u093e\u0928\u0928\u093e \u0939\u092e\u0947\u0936\u093e \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u094d\u092f\u093e \u092c\u0924\u093e \u0930\u0939\u0947 \u0939\u0948\u0902, \u0932\u0947\u0915\u093f\u0928 \u092e\u0948\u0902 \u0909\u0938\u0915\u0947 \u0906\u0927\u093e\u0930\u00a0 \u092a\u0930 \u0905\u092a\u0928\u0947 \u0928\u093f\u0930\u094d\u0923\u092f \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u093e\u0964 \u092f\u0926\u093f \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u092e\u0948\u0902 \u0911\u0930\u094d\u0921\u0930 \u0915\u093e \u0906\u0915\u093e\u0930 \u092c\u0922\u093c\u093e\u0924\u093e \u0939\u0942\u0902, \u092f\u0926\u093f \u0935\u0947 \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u092d\u0940 \u092e\u0948\u0902 \u0905\u092a\u0928\u0940 \u0930\u0923\u0928\u0940\u0924\u093f \u0915\u0947 \u0938\u093e\u0925 \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u093e \u0939\u0942\u0902\u0964", "", "good sir thank you hindi me", "Thankk q sir\nHindi me sare module provide karwaiye sir please", "Sir yeah\nMacd aur bb konsa indicator h leading or lagging ?", "lots of thanks for these all that provided by zerodha with amazing and simply explanation.", "You\u2019re welcome uttam \ud83d\ude42", "Karthik Sir\n1) Checklist no 4 point is wrong for buying in Hindi as well as English Lesson\nMacd crossover point\nMacd line must above signal line\n2) In Key takeaways\nPoint no 4 is wrong too\nSignal line is the 9 day EMA of the MACD line not SMA.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch15-title1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch15-Chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch15-Chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch15-Chart3.jpg", "https://secure.gravatar.com/avatar/86f8048a2fd1dbe8ef3ad403ecfc0834?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/aea93a08546f14d3ef13b18492b95ab0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5b192eaae2b7a9246a7439e0a8060030?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2552021f4658da3350970cddb19f2e44?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e7006c9b61c0445667f6035bae31c072?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0924\u093e\u0930\u0940\u0916</th>\n<th>\u0915\u094d\u0932\u094b\u091c\u093c</th>\n<th>12\u0926\u093f\u0928EMA</th>\n<th>26\u0926\u093f\u0928EMA</th>\n<th>MACD\u0932\u093e\u0907\u0928</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6302</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>2-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6221</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>3-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6211</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>6-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6191</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>7-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6162</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>8-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6175</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>9-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6168</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>10-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6171</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>13-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6273</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>14-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6242</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>15-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6321</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>16-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6319</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>17-Jan-14</td>\n<td>6262</td>\n<td>6230</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>20-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6304</td>\n<td>6226</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>21-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6314</td>\n<td>6233</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>22-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6339</td>\n<td>6242</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>23-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6346</td>\n<td>6254</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>24-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6267</td>\n<td>6269</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>27-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6136</td>\n<td>6277</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>28-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6126</td>\n<td>6274</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>29-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6120</td>\n<td>6271</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>30-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6074</td>\n<td>6258</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>31-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6090</td>\n<td>6244</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>3-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6002</td>\n<td>6225</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>4-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6001</td>\n<td>6198</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>5-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6022</td>\n<td>6176</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>6-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6036</td>\n<td>6153</td>\n<td>6198</td>\n<td>-45</td>\n</tr>\n<tr>\n<td>7-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6063</td>\n<td>6130</td>\n<td>6188</td>\n<td>-58</td>\n</tr>\n<tr>\n<td>10-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6053</td>\n<td>6107</td>\n<td>6182</td>\n<td>-75</td>\n</tr>\n<tr>\n<td>11-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6063</td>\n<td>6083</td>\n<td>6176</td>\n<td>-94</td>\n</tr>\n<tr>\n<td>12-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6084</td>\n<td>6066</td>\n<td>6171</td>\n<td>-106</td>\n</tr>\n<tr>\n<td>13-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6001</td>\n<td>6061</td>\n<td>6168</td>\n<td>-107</td>\n</tr>\n</tbody>\n</table>", "<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0924\u093e\u0930\u0940\u0916</th>\n<th>\u0915\u094d\u0932\u094b\u091c</th>\n<th>12\u0926\u093f\u0928EMA</th>\n<th>26\u0926\u093f\u0928EMA</th>\n<th>MACD\u0932\u093e\u0907\u0928</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1-Jan-14</td>\n<td>6302</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>2-Jan-14</td>\n<td>6221</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>3-Jan-14</td>\n<td>6211</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>6-Jan-14</td>\n<td>6191</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>7-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6162</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>8-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6175</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>9-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6168</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>10-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6171</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>13-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6273</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>14-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6242</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>15-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6321</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>16-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6319</td>\n<td></td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>17-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6262</td>\n<td>6230</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>20-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6304</td>\n<td>6226</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>21-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6314</td>\n<td>6233</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>22-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6339</td>\n<td>6242</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>23-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6346</td>\n<td>6254</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>24-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6267</td>\n<td>6269</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>27-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6136</td>\n<td>6277</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>28-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6126</td>\n<td>6274</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>29-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6120</td>\n<td>6271</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>30-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6074</td>\n<td>6258</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>31-\u091c\u0928\u0935\u0930\u0940-14</td>\n<td>6090</td>\n<td>6244</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>3-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6002</td>\n<td>6225</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>4-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6001</td>\n<td>6198</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>5-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6022</td>\n<td>6176</td>\n<td></td>\n<td></td>\n</tr>\n<tr>\n<td>6-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6036</td>\n<td>6153</td>\n<td>6198</td>\n<td>-45</td>\n</tr>\n<tr>\n<td>7-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6063</td>\n<td>6130</td>\n<td>6188</td>\n<td>-58</td>\n</tr>\n<tr>\n<td>10-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6053</td>\n<td>6107</td>\n<td>6182</td>\n<td>-75</td>\n</tr>\n<tr>\n<td>11-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6063</td>\n<td>6083</td>\n<td>6176</td>\n<td>-94</td>\n</tr>\n<tr>\n<td>12-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6084</td>\n<td>6066</td>\n<td>6171</td>\n<td>-106</td>\n</tr>\n<tr>\n<td>13-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6001</td>\n<td>6061</td>\n<td>6168</td>\n<td>-107</td>\n</tr>\n<tr>\n<td>14-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6048</td>\n<td>6051</td>\n<td>6161</td>\n<td>-111</td>\n</tr>\n<tr>\n<td>17-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6073</td>\n<td>6045</td>\n<td>6157</td>\n<td>-112</td>\n</tr>\n<tr>\n<td>18-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6127</td>\n<td>6045</td>\n<td>6153</td>\n<td>-108</td>\n</tr>\n<tr>\n<td>19-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6153</td>\n<td>6048</td>\n<td>6147</td>\n<td>-100</td>\n</tr>\n<tr>\n<td>20-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6091</td>\n<td>6060</td>\n<td>6144</td>\n<td>-84</td>\n</tr>\n<tr>\n<td>21-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6155</td>\n<td>6068</td>\n<td>6135</td>\n<td>-67</td>\n</tr>\n<tr>\n<td>24-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6186</td>\n<td>6079</td>\n<td>6129</td>\n<td>-50</td>\n</tr>\n<tr>\n<td>25-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6200</td>\n<td>6092</td>\n<td>6126</td>\n<td>-34</td>\n</tr>\n<tr>\n<td>26-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6239</td>\n<td>6103</td>\n<td>6122</td>\n<td>-19</td>\n</tr>\n<tr>\n<td>28-\u092b\u0930\u0935\u0930\u0940-14</td>\n<td>6277</td>\n<td>6118</td>\n<td>6119</td>\n<td>-1</td>\n</tr>\n<tr>\n<td>3-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6221</td>\n<td>6136</td>\n<td>6117</td>\n<td>20</td>\n</tr>\n<tr>\n<td>4-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6298</td>\n<td>6148</td>\n<td>6112</td>\n<td>36</td>\n</tr>\n<tr>\n<td>5-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6329</td>\n<td>6172</td>\n<td>6113</td>\n<td>59</td>\n</tr>\n<tr>\n<td>6-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6401</td>\n<td>6196</td>\n<td>6121</td>\n<td>75</td>\n</tr>\n<tr>\n<td>7-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6527</td>\n<td>6223</td>\n<td>6131</td>\n<td>92</td>\n</tr>\n<tr>\n<td>10-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6537</td>\n<td>6256</td>\n<td>6147</td>\n<td>110</td>\n</tr>\n<tr>\n<td>11-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6512</td>\n<td>6288</td>\n<td>6165</td>\n<td>124</td>\n</tr>\n<tr>\n<td>12-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6517</td>\n<td>6324</td>\n<td>6181</td>\n<td>143</td>\n</tr>\n<tr>\n<td>13-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6493</td>\n<td>6354</td>\n<td>6201</td>\n<td>153</td>\n</tr>\n<tr>\n<td>14-\u092e\u093e\u0930\u094d\u091a-14</td>\n<td>6504</td>\n<td>6380</td>\n<td>6220</td>\n<td>160</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "16. \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f\u094d\u0938", "text": ["", "\u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f\u094d\u0938 \u0915\u093e\u092b\u0940 \u0930\u094b\u091a\u0915 \u0935\u093f\u0937\u092f \u0939\u0948\u0964 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f\u094d\u0938 \u0915\u0940 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0915\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0914\u0930 \u0938\u0930\u093e\u0939\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0915\u0941\u091b \u0926\u093e\u0935\u094b\u0902 \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0915\u0940 \u0909\u0924\u094d\u092a\u0924\u094d\u0924\u093f \u092a\u094d\u0930\u093e\u091a\u0940\u0928 \u092d\u093e\u0930\u0924\u0940\u092f \u0917\u0923\u093f\u0924 \u0932\u093f\u092a\u093f\u092f\u094b\u0902 \u092e\u0947\u0902 200 \u0908\u0938\u093e \u092a\u0942\u0930\u094d\u0935 \u092e\u0947\u0902 \u0939\u0941\u0908 \u0925\u0940\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0915\u0947 \u092e\u094c\u091c\u0942\u0926\u093e \u0938\u094d\u0935\u0930\u0942\u092a \u0915\u0940 \u0916\u094b\u091c 12\u0935\u0940\u0902 \u0936\u0924\u093e\u092c\u094d\u0926\u0940 \u092e\u0947\u0902 \u0907\u091f\u0932\u0940 \u0915\u0947 \u092a\u0940\u0938\u093e \u0936\u0939\u0930 \u0915\u0947 \u0917\u0923\u093f\u0924\u091c\u094d\u091e \u0932\u093f\u092f\u094b\u0928\u093e\u0930\u094d\u0921\u094b \u092a\u093f\u0938\u093e\u0928\u094b \u092c\u094b\u0917\u094b\u0932\u094b \u0928\u0947 \u0915\u0940 \u0925\u0940\u0964 \u092c\u094b\u0917\u094b\u0932\u094b \u0915\u0947 \u0926\u094b\u0938\u094d\u0924 \u0909\u0938\u0947 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u092c\u0941\u0932\u093e\u0924\u0947 \u0925\u0947 \u0914\u0930 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0928\u0947 \u0939\u0940 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u0940 \u0916\u094b\u091c \u0915\u0940\u0964", "\u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0936\u0942\u0928\u094d\u092f \u0938\u0947 \u0936\u0941\u0930\u0942 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u0902\u0916\u094d\u092f\u093e\u0913\u0902 \u0915\u093e \u090f\u0915 \u0915\u094d\u0930\u092e \u0939\u0948, \u091c\u094b \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093f\u0924 \u0939\u0948\u0902 \u0915\u093f \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u092e\u0947\u0902 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u093e \u092e\u0942\u0932\u094d\u092f \u092a\u093f\u091b\u0932\u0947 \u0926\u094b \u0938\u0902\u0916\u094d\u092f\u093e\u0913\u0902 \u0915\u093e \u091c\u094b\u0921\u093c \u0939\u0948\u0964", "\u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0928\u093f\u092e\u094d\u0928\u093e\u0928\u0941\u0938\u093e\u0930 \u0939\u0948:", "0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610\u2026", "\u0928\u093f\u092e\u094d\u0928\u0932\u093f\u0916\u093f\u0924 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902:", "233 = 144 + 89", "144 = 89 + 55", "89 = 55 +34", "\u092e\u0924\u0932\u092c \u092a\u093f\u091b\u0932\u0940 \u0926\u094b \u0938\u0902\u0916\u094d\u092f\u093e\u0913\u0902 \u0915\u0947 \u091c\u094b\u0921\u093c \u0938\u0947 \u0905\u0917\u0932\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u092c\u0928\u0924\u0940 \u0939\u0948 \u0914\u0930 \u092f\u0947 \u0910\u0938\u0947 \u0939\u0940 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0905\u0928\u0902\u0924 \u0924\u0915 \u091a\u0932\u0924\u0940 \u0939\u0948\u0964 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0915\u0947 \u0915\u0941\u091b \u0926\u093f\u0932\u091a\u0938\u094d\u092a \u0917\u0941\u0923 \u0939\u0948\u0902\u0964", "\u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u092e\u0947\u0902 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u094b \u092a\u093f\u091b\u0932\u0947 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u0947 \u0935\u093f\u092d\u093e\u091c\u093f\u0924 \u0915\u0930\u0947\u0902 \u0924\u094b \u0905\u0928\u0941\u092a\u093e\u0924 \u0939\u092e\u0947\u0936\u093e \u0932\u0917\u092d\u0917 1.618 \u0939\u094b\u0917\u093e\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f:", "610/377 = 1.618", "377/233 = 1.618", "233/144 = 1.618", "1.618 \u0915\u0947 \u0905\u0928\u0941\u092a\u093e\u0924 \u0915\u094b \u0917\u094b\u0932\u094d\u0921\u0928 \u0905\u0928\u0941\u092a\u093e\u0924 (Golden Ratio) \u092d\u0940 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948, \u0907\u0938\u0947 \u092b\u093e\u0908 (Phi) \u092d\u0940 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0938\u0902\u0916\u094d\u092f\u093e\u0913\u0902 \u0915\u0947 \u0907\u0938 \u0917\u0941\u0923 \u0915\u093e \u0938\u0902\u092c\u0902\u0927 \u0939\u092e\u093e\u0930\u0940 \u092a\u094d\u0930\u0915\u0943\u0924\u093f \u0938\u0947 \u092d\u0940 \u0939\u0948\u0964 \u0917\u094b\u0932\u094d\u0921\u0928 \u0905\u0928\u0941\u092a\u093e\u0924 \u0915\u094b \u0906\u092a \u092e\u093e\u0928\u0935 \u091a\u0947\u0939\u0930\u0947, \u092b\u0942\u0932\u094b\u0902 \u0915\u0940 \u092a\u0902\u0916\u0941\u0921\u093c\u093f\u092f\u094b\u0902, \u091c\u093e\u0928\u0935\u0930\u094b\u0902 \u0915\u0947 \u0936\u0930\u0940\u0930, \u092b\u0932, \u0938\u092c\u094d\u091c\u093f\u092f\u093e\u0902 \u0938\u0947 \u0932\u0947\u0915\u0930 \u092a\u0924\u094d\u0925\u0930\u094b\u0902 \u0914\u0930 \u0905\u0902\u0924\u0930\u093f\u0915\u094d\u0937 \u092e\u0947\u0902 \u092d\u0940 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u092d\u0940 \u0907\u0938 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0928\u0939\u0940\u0902 \u0915\u0930\u0947\u0902\u0917\u0947 \u0915\u094d\u092f\u094b\u0902\u0915\u093f\u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u0938\u0947\u00a0 \u0939\u092e \u092e\u0941\u0916\u094d\u092f \u0935\u093f\u0937\u092f \u0938\u0947 \u0939\u091f \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u0932\u0947\u0915\u0928 \u0907\u0938\u092e\u0947\u0902 \u0930\u0941\u091a\u093f \u0930\u0916\u0928\u0947 \u0935\u093e\u0932\u0947 \u0932\u094b\u0917 \u0907\u0902\u091f\u0930\u0928\u0947\u091f \u092a\u0930 \u0917\u094b\u0932\u094d\u0921\u0928 \u0905\u0928\u0941\u092a\u093e\u0924 \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923\u094b\u0902 \u0915\u094b \u0916\u094b\u091c \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u094b \u0915\u093e\u092b\u0940 \u0906\u0936\u094d\u091a\u0930\u094d\u092f\u091c\u0928\u0915 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u092e\u093f\u0932\u0947\u0902\u0917\u0940\u0964 \u0917\u094b\u0932\u094d\u0921\u0928 \u0905\u0928\u0941\u092a\u093e\u0924 \u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0915\u093e \u090f\u0915 \u0914\u0930 \u0917\u0941\u0923 \u0939\u0948, \u091c\u092c \u0907\u0938 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0915\u0940 \u0915\u094b\u0908 \u0938\u0902\u0916\u094d\u092f\u093e, \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u0924\u0941\u0930\u0902\u0924 \u092c\u093e\u0926 \u0906\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u0947 \u0935\u093f\u092d\u093e\u091c\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948, \u0924\u094b \u092f\u0947 \u0905\u0928\u0941\u092a\u093e\u0924 \u092d\u0940 \u0938\u094d\u0925\u093f\u0930 \u0939\u0940 \u0930\u0939\u0924\u093e \u0939\u0948\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f:", "89/144 = 0.618", "144/233 = 0.618", "377/610 = 0.618", "\u092f\u0939\u093e\u0901 \u092a\u0930, \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u0947\u0902 \u0915\u093f 0.618, \u091c\u092c \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u092e\u0947\u0902 \u0935\u094d\u092f\u0915\u094d\u0924 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 61.8% \u0939\u0948\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0939 \u0915\u0940 \u0938\u094d\u0925\u093f\u0930\u0924\u093e \u0924\u092c \u092d\u0940 \u092a\u093e\u0908 \u091c\u093e\u0924\u0940 \u0939\u0948 \u091c\u092c \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u092e\u0947\u0902 \u0915\u094b\u0908 \u092d\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0905\u092a\u0928\u0947 \u0938\u0947 \u0926\u094b \u0938\u094d\u0925\u093e\u0928 \u092c\u093e\u0926 \u0906\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u0947 \u0935\u093f\u092d\u093e\u091c\u093f\u0924 \u0939\u094b\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f:", "13/34 = 0.382", "21/55 = 0.382", "34/89 = 0.382", "0.382 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0915\u0947 \u0938\u0902\u0926\u0930\u094d\u092d \u092e\u0947\u0902 38.2% \u0939\u0948\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0939 \u0915\u0947 \u092a\u0930\u093f\u0923\u093e\u092e \u0906\u092a \u0924\u092c \u092d\u0940 \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u091c\u092c \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0915\u0940 \u090f\u0915 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u094b \u0909\u0938\u0915\u0947 3 \u091c\u0917\u0939 \u092c\u093e\u0926 \u0906\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u0947 \u0935\u093f\u092d\u093e\u091c\u093f\u0924 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f:", "13/55 = 0.236", "21/89 = 0.236", "34/144 = 0.236", "55/233 = 0.236", "0.236 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0915\u0947 \u0938\u0902\u0926\u0930\u094d\u092d \u092e\u0947\u0902 23.6% \u0939\u0948\u0964", "\u0910\u0938\u093e \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0905\u0928\u0941\u092a\u093e\u0924 \u092f\u093e\u0928\u0940 61.8%, 38.2% \u0914\u0930 23.6% \u0915\u093e \u0938\u094d\u091f\u0949\u0915 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0909\u092a\u092f\u094b\u0917 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0924\u092c \u0932\u093e\u0917\u0942 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u091c\u092c \u0915\u0940\u092e\u0924\u094b\u0902 \u092e\u0947\u0902 \u0905\u091a\u094d\u091b\u093e \u0916\u093e\u0938\u093e \u0909\u0924\u093e\u0930 \u092f\u093e \u091a\u0922\u093c\u093e\u0935 \u0939\u094b\u0964 \u091c\u092c \u092d\u0940 \u0938\u094d\u091f\u0949\u0915 \u0924\u0947\u091c\u0940 \u0938\u0947 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u0915\u0940 \u0913\u0930 \u092c\u0922\u093c\u0924\u093e \u0939\u0948, \u0924\u094b \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092f\u0939 \u0905\u092a\u0928\u0940 \u0905\u0917\u0932\u0940 \u091a\u093e\u0932 \u0938\u0947 \u092a\u0939\u0932\u0947 \u090f\u0915 \u0938\u094d\u0924\u0930 \u0924\u0915 \u0935\u093e\u092a\u0938 \u0932\u094c\u091f\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u092f\u0926\u093f \u0938\u094d\u091f\u0949\u0915 50 \u0930\u0941\u092a\u092f\u0947 \u0938\u0947 \u0932\u0947\u0915\u0930 100 \u0930\u0941\u092a\u092f\u0947 \u0924\u0915 \u091a\u0932\u093e \u0939\u0948, \u0924\u094b \u0907\u0938\u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u093f \u092f\u0939 Rs.120 \u0924\u0915 \u0906\u0917\u0947 \u092c\u0922\u093c \u0938\u0915\u0947 \u0907\u0938\u0915\u0947 Rs.70 \u0924\u0915 \u0935\u093e\u092a\u0938 \u0906\u0928\u0947 (\u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0915\u0930\u0928\u0947) \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u2018\u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0932\u0947\u0935\u0932 \u092b\u094b\u0930\u0915\u093e\u0938\u094d\u091f \u2013 The retracement level forecast\u2019 \u090f\u0915 \u0910\u0938\u0940 \u0924\u0915\u0928\u0940\u0915 \u0939\u0948 \u091c\u093f\u0938\u0915\u0947 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0938\u0947 \u0915\u094b\u0908 \u092d\u0940 \u092a\u0939\u091a\u093e\u0928 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u093f\u0938 \u0932\u0947\u0935\u0932 \u0924\u0915 \u0915\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092f\u0947 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0932\u0947\u0935\u0932 \u0939\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092e\u094c\u0915\u093e \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0935\u094b \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0940 \u0926\u093f\u0936\u093e \u0915\u094b \u0926\u0947\u0916 \u0915\u0930 \u0928\u090f \u0938\u094c\u0926\u0947 \u0915\u0930 \u0938\u0915\u0947\u0902\u0964 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0905\u0928\u0941\u092a\u093e\u0924 \u092f\u093e\u0928\u0940 61.8%, 38.2% \u0914\u0930 23.6% \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u093f\u0924 \u0938\u0940\u092e\u093e \u0915\u094b \u092a\u0939\u091a\u093e\u0928\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u091f\u094d\u0930\u0947\u0921\u0930 \u0907\u0928 \u0938\u094d\u0924\u0930\u094b\u0902 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u090f\u0915 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0947\u0902:", "", "\u092e\u0948\u0902\u0928\u0947 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0926\u094b \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u0918\u0947\u0930\u093e \u0939\u0948, 380 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u091c\u0939\u093e\u0902 \u0936\u0947\u092f\u0930 \u0928\u0947 \u0905\u092a\u0928\u0940 \u0930\u0948\u0932\u0940 \u0936\u0941\u0930\u0942 \u0915\u0940 \u0914\u0930 489 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930, \u091c\u0939\u093e\u0902 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u0905\u092a\u0928\u0940 \u090a\u0901\u091a\u093e\u0908 \u092a\u0930 \u0925\u0940\u0902\u0964", "\u0905\u092c \u092e\u0948\u0902 109 (380 \u2013 489) \u0924\u0915 \u0915\u0940 \u091a\u093e\u0932 (move) \u0915\u094b \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0905\u092a\u092e\u0942\u0935 (Fibonacci Upmove) \u092f\u093e\u0928\u0940 \u091a\u0922\u093c\u093e\u0935 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u092a\u0930\u093f\u092d\u093e\u0937\u093f\u0924 \u0915\u0930\u0942\u0902\u0917\u093e\u0964 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0915\u0947 \u0905\u0928\u0941\u0938\u093e\u0930, \u090a\u092a\u0930 \u091a\u0922\u093c \u0930\u0939\u093e \u0915\u094b\u0908 \u092d\u0940 \u0938\u094d\u091f\u0949\u0915 \u091c\u092c \u0915\u0930\u0947\u0915\u094d\u0936\u0928 \u092e\u0947\u0902 \u0906\u0924\u093e \u0939\u0948 \u0924\u094b \u0935\u094b \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0905\u0928\u0941\u092a\u093e\u0924 \u0924\u0915 \u0917\u093f\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964\u00a0 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u0938\u094d\u091f\u0949\u0915 \u0915\u093e \u092a\u0939\u0932\u093e \u0915\u0930\u0947\u0915\u094d\u0936\u0928 23.6% \u0924\u0915 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092f\u0926\u093f \u092f\u0939 \u0938\u094d\u091f\u0949\u0915 \u0906\u0917\u0947 \u092d\u0940 \u0915\u0930\u0947\u0915\u094d\u091f \u0939\u094b\u0924\u093e \u0939\u0948, \u0924\u094b 38.2% \u0914\u0930 61.8% \u0915\u0947 \u0938\u094d\u0924\u0930 \u092d\u0940 \u0926\u093f\u0916\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u0915 61.8% \u0924\u0915 \u0928\u0940\u091a\u0947 \u0906 \u0917\u092f\u093e \u0939\u0948, \u091c\u094b 421.9 \u0915\u0947 \u0938\u093e\u0925 \u092e\u0947\u0932 \u0916\u093e\u0924\u093e \u0939\u0948, \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0939\u0940 \u092f\u0939 \u092b\u093f\u0930 \u0938\u0947 \u0930\u0948\u0932\u0940 \u0936\u0941\u0930\u0942 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "", "\u0939\u092e \u0938\u093e\u0927\u093e\u0930\u0923 \u0917\u0923\u093f\u0924 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0915\u0947 \u092d\u0940 421 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u2013", "\u0915\u0941\u0932 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u092c\u0922\u0924 = 109", "\u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0915\u0940 61.8% \u091a\u093e\u0932 = 61.8% * 109 = 67.36", "\u0930\u093f\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f @ 61.8% = 489- 67.36 = 421.6", "\u0907\u0938\u0940 \u0924\u0930\u0939, \u0939\u092e 38.2% \u0914\u0930 \u0905\u0928\u094d\u092f \u0905\u0928\u0941\u092a\u093e\u0924\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0917\u0923\u0928\u093e \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0939\u093e\u0932\u093e\u0901\u0915\u093f \u0939\u092e\u0947\u0902 \u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u0915\u0940 \u0906\u0935\u0936\u094d\u092f\u0915\u0924\u093e \u0928\u0939\u0940\u0902 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0939\u092e\u093e\u0930\u0947 \u0932\u093f\u090f \u092f\u0947 \u0915\u093e\u092e \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u092f\u0939\u093e\u0902 \u090f\u0915 \u0914\u0930 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948 \u091c\u0939\u093e\u0902 \u091a\u093e\u0930\u094d\u091f 288 \u0938\u0947 338 \u0924\u0915 \u092c\u0922\u093c\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f 50 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0915\u0940 \u092f\u0947 \u092c\u0922\u0924 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0905\u092a\u092e\u0942\u0935 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u092c\u0922\u093c\u0924 \u0939\u0948\u0964 \u0938\u094d\u091f\u0949\u0915 \u0928\u0947 \u0905\u092a\u0928\u0940 \u091a\u093e\u0932 \u0915\u094b \u0926\u094b\u092c\u093e\u0930\u093e \u0938\u0947 \u0936\u0941\u0930\u0942 \u0915\u0930\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 38.2% \u0924\u0915 \u092f\u093e\u0928\u0940 319 \u00a0\u0924\u0915 \u0930\u0940\u091f\u094d\u0930\u0947\u0938 \u0915\u093f\u092f\u093e\u0964", "", "\u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0909\u0928 \u0936\u0947\u092f\u0930\u094b\u0902 \u092a\u0930 \u092d\u0940 \u0932\u093e\u0917\u0942 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u091c\u094b \u0917\u093f\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0907\u0938\u0915\u0947 \u091c\u0930\u093f\u090f \u0939\u092e \u0909\u0938 \u0938\u094d\u0924\u0930 \u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u0939\u093e\u0902 \u0938\u0947 \u0938\u094d\u091f\u0949\u0915 \u0935\u093e\u092a\u0938 \u0909\u091b\u0932 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u091a\u093e\u0930\u094d\u091f (DLF Limited) \u092e\u0947\u0902, \u0936\u0947\u092f\u0930 187 \u0938\u0947 120.6 \u0924\u0915 \u0917\u093f\u0930\u093e \u0914\u0930 \u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0921\u093e\u0909\u0928 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 67 \u0905\u0902\u0915 \u092c\u0928\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0928\u0940\u091a\u0947 \u0917\u093f\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926, \u0936\u0947\u092f\u0930 \u0928\u0947 \u0935\u093e\u092a\u0938 \u0906\u0915\u0930 162 \u0924\u0915 \u0909\u091b\u093e\u0932 \u0926\u0947\u0928\u0947 \u0915\u093e \u092a\u094d\u0930\u092f\u093e\u0938 \u0915\u093f\u092f\u093e, \u091c\u094b \u0915\u093f 61.8% \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0938\u094d\u0924\u0930 \u0939\u0948\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0905\u092c \u0939\u092e \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0915\u093f\u0938\u0940 \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0909\u0928 \u092c\u0926\u0932\u093e\u0935\u094b\u0902 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u0916\u093f\u0932\u093e\u092b \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u092a\u0939\u0932\u0947 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u091a\u093e\u0932 100% \u092e\u0942\u0932\u094d\u092f\u00a0 \u092a\u0924\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u091a\u093e\u0932 \u091a\u093e\u0939\u0947 \u090a\u092a\u0930 \u0915\u0940 \u0930\u0948\u0932\u0940 \u092e\u0947\u0902 \u0939\u094b \u092f\u093e \u0928\u0940\u091a\u0947 \u0915\u0940 \u0930\u0948\u0932\u0940 \u092e\u0947\u0902\u0964 \u091a\u093e\u0932 \u0915\u0947 100% \u0915\u094b \u092a\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f, \u0939\u092e\u0947\u0902 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0938\u092c\u0938\u0947 \u0939\u093e\u0932 \u0915\u0947 \u0939\u093e\u0908 \u0914\u0930 \u0932\u094b \u0915\u094b \u091a\u0941\u0928\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u092a\u0921\u093c\u0947\u0917\u0940\u0964 \u0907\u0928\u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u0939\u094b \u091c\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926, \u0939\u092e \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u091f\u0942\u0932 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0915\u0947 \u0907\u0928\u094d\u0939\u0947\u0902 \u0915\u0928\u0947\u0915\u094d\u091f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u091f\u0942\u0932 Zerodha \u0915\u0947 Pi \u0938\u0939\u093f\u0924 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0915\u0908 \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930 \u092a\u0948\u0915\u0947\u091c\u094b\u0902 \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0964", "\u0905\u092c \u0907\u0938\u0915\u0947 \u0909\u092a\u092f\u094b\u0917 \u0915\u094b \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902:", "\u091a\u0930\u0923 1) \u0938\u092c\u0938\u0947 \u0928\u090f \u0939\u093e\u0908 \u0914\u0930 \u0932\u094b \u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u0915\u0930\u0947\u0902\u0964 \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u0932\u094b 150 \u092a\u0930 \u0939\u0948 \u0914\u0930 \u0939\u093e\u0908 240 \u092a\u0930 \u0939\u0948\u0964 \u092f\u093e\u0928\u0940 \u092f\u0939\u093e\u0901 90 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0915\u0940 \u091a\u093e\u0932 \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c 90 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0939\u0940 \u092f\u0939\u093e\u0901 100% \u0939\u0948\u0964", "", "\u091a\u0930\u0923 2) \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u091f\u0942\u0932 \u092e\u0947\u0902 \u0938\u0947 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u091f\u0942\u0932 \u0915\u094b \u091a\u0941\u0928\u0947\u0902\u0964", "", "\u091a\u0930\u0923 3) \u0905\u092c \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u091f\u0942\u0932 \u0915\u0947 \u091c\u0930\u093f\u090f \u0932\u094b \u0914\u0930 \u0939\u093e\u0908 \u0915\u094b \u0906\u092a\u0938 \u092e\u0947\u0902 \u091c\u094b\u0921\u093c\u0947\u0902\u0964", "", "\u091a\u093e\u0930\u094d\u091f \u091f\u0942\u0932 \u0938\u0947 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u091f\u0942\u0932 \u0915\u094b \u091a\u0941\u0928\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092a\u0939\u0932\u0947 \u0932\u094b \u092a\u0930 \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e \u0914\u0930 \u092c\u093f\u0928\u093e \u0915\u094d\u0932\u093f\u0915 \u0915\u093f\u090f \u0909\u0938 \u0932\u093e\u0907\u0928 \u0915\u094b \u0939\u093e\u0908 \u0924\u0915 \u0916\u0940\u0902\u091a\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0907\u0938\u0947 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0939\u0940 \u0938\u093e\u0925 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0938\u094d\u0924\u0930 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u092a\u094d\u0932\u0949\u091f \u0939\u094b\u0928\u0947 \u0932\u0917\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u0939\u0940 \u0906\u092a \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u092e\u0947\u0902 \u0932\u094b \u0914\u0930 \u0939\u093e\u0908 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u091a\u0941\u0928 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902, \u0935\u0948\u0938\u0947 \u0939\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u092a\u0939\u091a\u093e\u0928\u0928\u0947 \u0915\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u092a\u0942\u0930\u0940 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0926\u094b\u0928\u094b\u0902 \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u091a\u0941\u0928\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u091a\u093e\u0930\u094d\u091f \u0910\u0938\u093e \u0926\u093f\u0916\u0924\u093e \u0939\u0948\u0964", "", "\u0905\u092c \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0938\u094d\u0924\u0930 \u092c\u0928 \u0915\u0930 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948\u0964 \u0907\u0938 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0915\u0947 \u0906\u092a \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u090f\u0915 \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u094b\u091a\u0947\u0902 \u091c\u0939\u093e\u0902 \u0906\u092a \u090f\u0915 \u0916\u093e\u0938 \u0938\u094d\u091f\u0949\u0915 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0925\u0947 \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u091c\u094d\u092f\u093e\u0926\u093e \u0924\u0947\u091c\u0940 \u0906\u0928\u0947 \u0915\u0947 \u0915\u093e\u0930\u0923 \u0906\u092a \u0909\u0938\u0947 \u0928\u0939\u0940\u0902 \u0916\u0930\u0940\u0926 \u092a\u093e\u090f\u0964 \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u0938\u092e\u091d\u0926\u093e\u0930\u0940 \u0915\u093e \u0915\u093e\u092e \u0939\u094b\u0917\u093e \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0915\u0947 \u0932\u093f\u090f \u0907\u0902\u0924\u091c\u093e\u0930 \u0915\u0930\u0928\u093e\u0964 \u0935\u094b \u0938\u094d\u091f\u0949\u0915 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0938\u094d\u0924\u0930 \u092f\u093e\u0928\u0940 61.8%, 38.2% \u0914\u0930 23.6% \u0924\u0915 \u0917\u093f\u0930 (\u0930\u0940\u091f\u094d\u0930\u0947\u0938) \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0938\u094d\u0924\u0930 \u0915\u094b \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u092a\u0939\u091a\u093e\u0928 \u0915\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0907\u0928 \u0938\u094d\u0924\u0930\u094b\u0902 \u092a\u0930 \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u092a\u094d\u0930\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0905\u0935\u0938\u0930 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0930\u0939 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928, \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0915\u093f\u0938\u0940 \u092d\u0940 \u0926\u0942\u0938\u0930\u0947 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0915\u0940 \u0924\u0930\u0939 \u0939\u0940 \u0907\u0938\u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u092d\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0947 \u0932\u093f\u090f \u0939\u0940 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u092e\u0924\u0932\u092c \u092f\u0947 \u0915\u093f \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u0940 \u092c\u093e\u0915\u0940 \u0936\u0930\u094d\u0924\u094b\u0902 \u0915\u0947 \u092a\u0942\u0930\u093e \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0939\u0940 \u092e\u0948\u0902 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0942\u0902\u0917\u093e \u0938\u093f\u0930\u094d\u092b \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0930\u0940\u091f\u094d\u0930\u0947\u0938\u092e\u0947\u0902\u091f \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0928\u0939\u0940\u0902\u0964 \u0926\u0942\u0938\u0930\u0947 \u0936\u092c\u094d\u0926\u094b\u0902 \u092e\u0947\u0902, \u0938\u094d\u091f\u0949\u0915 \u0924\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092e\u0947\u0930\u093e \u0935\u093f\u0936\u094d\u0935\u093e\u0938 \u0905\u0927\u093f\u0915 \u0939\u094b\u0917\u093e \u0905\u0917\u0930:", "", "", "\u090a\u092a\u0930 \u0915\u0947 \u092c\u093f\u0926\u0941\u0913\u0902 \u0915\u0947 \u0938\u093e\u0925 \u0938\u093e\u0925 \u0905\u0917\u0930 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u092d\u0940 \u092b\u093f\u092c\u094b\u0928\u093e\u091a\u0940 \u0938\u094d\u0924\u0930 \u0915\u0947 \u0938\u093e\u0925 \u092e\u0947\u0932 \u0916\u093e\u0924\u093e \u0939\u0948, \u0924\u094b \u092e\u0941\u091d\u0947 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u091f\u094d\u0930\u0947\u0921 \u0938\u0947\u091f\u0905\u092a \u0938\u092d\u0940 \u0936\u0930\u094d\u0924\u094b \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930 \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0938\u0947 \u092e\u0947\u0930\u093e \u092d\u0930\u094b\u0938\u093e \u092c\u0922\u0947\u0917\u093e \u0914\u0930 \u092e\u0948\u0902 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092e\u091c\u092c\u0942\u0924\u0940 \u0938\u0947 \u091c\u093e\u090a\u0902\u0917\u093e\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u091f\u094d\u0930\u0947\u0902\u0921 \u0914\u0930 \u0930\u093f\u0935\u0930\u094d\u0938\u0932 \u0915\u093e \u0905\u0927\u094d\u092f\u092f\u0928 \u0915\u0930\u0924\u0947 \u0939\u0941\u090f \u0939\u092e \u091c\u093f\u0924\u0928\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0924\u0930\u0940\u0915\u094b\u0902 \u0938\u0947 \u0907\u0928\u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902,\u00a0 \u0938\u0902\u0915\u0947\u0924 \u0909\u0924\u0928\u093e \u0939\u0940 \u092d\u0930\u094b\u0938\u0947\u092e\u0902\u0926 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u092f\u093e \u0932\u093e\u0902\u0917, \u0926\u094b\u0928\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f\u0964", "thanks sir next chapter bhi hindi me translate kr do sir", "Sir baki ke module me itna time kese LG rha h trasralate me", "Hi \u092a\u0902\u0915\u091c, \u0939\u092e \u092c\u093e\u0915\u0940 \u092e\u0949\u0921\u094d\u092f\u0942\u0932\u094d\u0938 \u0915\u094b \u092d\u0940 \u091c\u0932\u094d\u0926 \u0939\u0940 \u091f\u094d\u0930\u093e\u0902\u0938\u0932\u0947\u091f \u0915\u0930\u0947\u0902\u0917\u0947|", "What is difference between fibonachi retracement and fibo default and which time period we shoud use this both tool and how\nPlease explain this in hindi bcz my english is little week", "Hi, kya fibonacci ko apne zerodha chart m use kar saktey hain", "\u091c\u0940 \u0939\u093e\u0901 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "what time period required for use fibonachi and can we use this for one day candle to check long term investment purpose?", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch16-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch16-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch16-chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch16-chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch16-chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch16-chart5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch16-chart6.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch16-chart7.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2Ch16-chart8.jpg", "https://secure.gravatar.com/avatar/86f8048a2fd1dbe8ef3ad403ecfc0834?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/68d04cb72c3286d4fa0219b04ee30880?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0a84166342636d6ef04327ec928330c8?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2d9bdd1d2b34a146aa4ba7cb172b460?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4049795bbc4ae075b403b54422f778e2?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "17. \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u2013 \u092d\u093e\u0917 1", "text": ["", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u093e \u090f\u0915 \u092c\u0939\u0941\u0924 \u0905\u092d\u093f\u0928\u094d\u0928 \u0905\u0902\u0917 \u0939\u0948 \u2013 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0964 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915\u094d\u0938 \u0915\u0947 \u0906\u0928\u0947\u00a0 \u0938\u0947 \u092a\u0939\u0932\u0947 \u092a\u0936\u094d\u091a\u093f\u092e\u0940 \u0926\u0947\u0936\u094b\u0902 \u092e\u0947\u0902 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u093e \u092c\u0921\u093c\u0947 \u092a\u0948\u092e\u093e\u0928\u0947 \u092a\u0930 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0939\u094b\u0924\u093e \u0925\u093e\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0906\u091c \u092d\u0940 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0940 \u0905\u0935\u0927\u093e\u0930\u0923\u093e\u0913\u0902 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u093f\u092f\u093e \u091c\u093e \u0930\u0939\u093e \u0939\u0948\u0964 \u0905\u091a\u094d\u091b\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915\u094d\u0938 \u0914\u0930 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0947 \u0938\u0930\u094d\u0935\u094b\u0924\u094d\u0924\u092e \u0917\u0941\u0923\u094b\u0902 \u0915\u094b \u092e\u093f\u0932\u093e \u0915\u0930 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u094b \u0926\u0941\u0928\u093f\u092f\u093e \u092e\u0947\u0902 \u091a\u093e\u0930\u094d\u0932\u094d\u0938 \u090f\u091a \u0921\u0949\u0909 \u0928\u0947 \u092a\u0947\u0936 \u0915\u093f\u092f\u093e \u0925\u093e, \u0921\u0949\u0909-\u091c\u094b\u0928\u094d\u0938 \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0928\u094d\u092f\u0942\u091c \u0938\u0930\u094d\u0935\u093f\u0938 (\u0935\u0949\u0932 \u0938\u094d\u091f\u094d\u0930\u0940\u091f \u091c\u0930\u094d\u0928\u0932) \u0915\u0940 \u0938\u094d\u0925\u093e\u092a\u0928\u093e \u092d\u0940 \u0909\u0928\u094d\u0939\u094b\u0902\u0928\u0947 \u0939\u0940 \u0915\u0940 \u0925\u0940\u0964 \u0909\u0928\u094d\u0939\u094b\u0902\u0928\u0947 1900 \u0915\u0947 \u0926\u0936\u0915 \u0915\u0947 \u0936\u0941\u0930\u0942 \u0938\u0947 \u0932\u0947\u0916\u094b\u0902 \u0915\u0940 \u090f\u0915 \u0936\u094d\u0930\u0943\u0902\u0916\u0932\u093e \u0932\u093f\u0916\u0940, \u091c\u093f\u0938\u0947 \u092c\u093e\u0926 \u0915\u0947 \u0935\u0930\u094d\u0937\u094b\u0902 \u092e\u0947\u0902 \u2018\u0926 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u2018 \u0915\u0947 \u0928\u093e\u092e \u0938\u0947 \u091c\u093e\u0928\u093e \u0917\u092f\u093e\u0964 \u0907\u0928 \u0932\u0947\u0916\u094b\u0902 \u0915\u094b \u0907\u0915\u091f\u094d\u0920\u093e \u0915\u0930\u0928\u0947 \u0915\u093e \u0936\u094d\u0930\u0947\u092f \u0935\u093f\u0932\u093f\u092f\u092e \u092a\u0940 \u0939\u0948\u092e\u093f\u0932\u094d\u091f\u0928 \u0915\u094b \u091c\u093e\u0924\u093e \u0939\u0948, \u091c\u093f\u0928\u094d\u0939\u094b\u0902\u0928\u0947 27 \u0938\u093e\u0932 \u0915\u0940 \u0905\u0935\u0927\u093f \u092e\u0947\u0902 \u0907\u0928 \u0932\u0947\u0916\u094b\u0902 \u0915\u094b \u091c\u0930\u0942\u0930\u0940 \u0909\u0926\u093e\u0939\u0930\u0923\u094b\u0902 \u0915\u0947 \u0938\u093e\u0925 \u0938\u0902\u0915\u0932\u093f\u0924 \u0915\u093f\u092f\u093e\u0964 \u091a\u0942\u0902\u0915\u093f \u0905\u092c \u0915\u093e \u0938\u092e\u092f \u091a\u093e\u0930\u094d\u0932\u094d\u0938 \u0921\u0949\u0909 \u0915\u0947 \u0938\u092e\u092f \u0938\u0947 \u092c\u0939\u0941\u0924 \u092c\u0926\u0932 \u0917\u092f\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u094b \u092e\u093e\u0928\u0928\u0947 \u0935\u093e\u0932\u0947 \u092d\u0940 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0915\u0947 \u0906\u0932\u094b\u091a\u0915 \u092d\u0940 \u0939\u0948\u0902\u0964", "\u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0941\u091b \u092e\u093e\u0928\u094d\u092f\u0924\u093e\u0913\u0902 \u092a\u0930 \u092c\u0928\u0940 \u0939\u0948\u0964 \u0907\u0928\u094d\u0939\u0947\u0902 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0947 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091a\u093e\u0930\u094d\u0932\u094d\u0938 \u090f\u091a \u0921\u0949\u0909 \u0928\u0947 \u092c\u093e\u091c\u093e\u0930\u094b\u0902 \u0915\u093e \u0932\u0917\u093e\u0924\u093e\u0930 \u0915\u0908 \u0938\u093e\u0932\u094b\u0902 \u0924\u0915 \u0905\u0927\u094d\u092f\u092f\u0928 \u0915\u0930\u0915\u0947 \u0907\u0928\u0915\u094b \u0935\u093f\u0915\u0938\u093f\u0924 \u0915\u093f\u092f\u093e \u0925\u093e\u0964 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0947 \u092a\u0940\u091b\u0947 9 \u092e\u093e\u0930\u094d\u0917\u0926\u0930\u094d\u0936\u0915 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0939\u0948\u0902:", "", "\u0921\u093e\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0924\u0940\u0928 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0905\u0935\u0938\u094d\u0925\u093e\u090f\u0902 (phases) \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u091c\u094b \u092c\u093e\u0930-\u092c\u093e\u0930 \u0935\u093e\u092a\u0938 \u0906\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0902 \u0907\u0928\u0915\u094b \u090f\u0915\u094d\u092f\u0942\u092e\u0941\u0932\u0947\u0936\u0928 (accumulation), \u092e\u093e\u0930\u094d\u0915 \u0905\u092a (mark up) \u0914\u0930 \u0921\u093f\u0938\u094d\u091f\u094d\u0930\u0940\u092c\u094d\u092f\u0942\u0936\u0928 (distribution) \u092b\u0947\u091c (phase) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915\u094d\u092f\u0942\u092e\u0941\u0932\u0947\u0936\u0928 \u092b\u0947\u091c \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u090f\u0915 \u092d\u093e\u0930\u0940 \u0917\u093f\u0930\u093e\u0935\u091f \u0915\u0947 \u092c\u093e\u0926 \u0906\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0906\u0908 \u090f\u0915 \u092d\u093e\u0930\u0940 \u0917\u093f\u0930\u093e\u0935\u091f \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0916\u093f\u0932\u093e\u0921\u093c\u093f\u092f\u094b\u0902 \u0915\u094b \u0928\u093f\u0930\u093e\u0936 \u0915\u0930 \u0926\u0947\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0928\u094d\u0939\u0947\u0902 \u0928\u0939\u0940\u0902 \u0932\u0917\u0924\u093e \u0915\u093f \u0905\u092c \u092f\u0939 \u092c\u093e\u091c\u093e\u0930 \u090a\u092a\u0930 \u091c\u093e\u090f\u0917\u093e\u0964 \u0915\u0940\u092e\u0924\u0947\u0902 \u0905\u092a\u0928\u0947 \u090f\u0915\u0926\u092e \u0928\u093f\u091a\u0932\u0947 \u0938\u094d\u0924\u0930 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u092b\u093f\u0930 \u092d\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u094b\u0908 \u092d\u0940 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u093e \u0928\u0939\u0940\u0902 \u091a\u093e\u0939\u0924\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0928\u094d\u0939\u0947\u0902 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u092d\u0940 \u0914\u0930 \u092c\u093f\u0915\u0935\u093e\u0932\u0940 \u0906 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u092a\u0928\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u094d\u0924\u0930 \u092a\u0930 \u0939\u0940 \u092c\u0928\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092a\u094d\u0930\u0935\u0947\u0936 \u0915\u0930\u0924\u0940 \u0939\u0948\u0964", "\u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0909\u0938 \u092a\u0948\u0938\u0947 \u0915\u094b \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 \u092c\u0921\u093c\u0947-\u092c\u0921\u093c\u0947 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0928\u093f\u0935\u0947\u0936\u0915 \u092f\u093e\u0928\u0940 \u092c\u0921\u093c\u0940-\u092c\u0921\u093c\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u0932\u0947\u0915\u0930 \u0906\u0924\u0940 \u0939\u0948\u0902\u0964 \u0935\u0947 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0940 \u0939\u0948\u0964 \u0910\u0938\u0947 \u0928\u093f\u0935\u0947\u0936\u0915 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0924\u092c \u0918\u0941\u0938\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u0909\u0928\u0915\u094b \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u0935\u0948\u0932\u094d\u092f\u0942 \u0926\u093f\u0916\u093e\u0908 \u092a\u0921\u093c \u0930\u0939\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u092f\u093e\u0928\u0940 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u093e\u092b\u0940 \u0917\u093f\u0930 \u091a\u0941\u0915\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0910\u0938\u0940 \u0939\u093e\u0932\u0924 \u092e\u0947\u0902 \u092f\u0939 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u093e\u092b\u0940 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0924\u0915 \u0932\u0917\u093e\u0924\u093e\u0930 \u092c\u0921\u093c\u0940 \u092c\u0921\u093c\u0940 \u092e\u093e\u0924\u094d\u0930\u093e \u092e\u0947\u0902 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0916\u0930\u0940\u0926\u093e\u0930\u0940 \u0915\u0930\u0924\u0947 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u091c\u092e\u093e \u0915\u0930\u0928\u0947 \u0915\u0940 \u0909\u0928\u0915\u0940 \u0907\u0938 \u0939\u0930\u0915\u0924 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0939\u0940 \u0907\u0938\u0947 \u090f\u0915\u094d\u092f\u0942\u092e\u0941\u0932\u0947\u0936\u0928 \u092b\u0947\u091c \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u090f\u0915\u094d\u092f\u0942\u092e\u0941\u0932\u0947\u0936\u0928 \u092b\u0947\u091c \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u093e\u0930 \u092e\u093f\u0932\u0928\u093e \u0906\u0938\u093e\u0928 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u092f\u0939\u0940 \u0935\u091c\u0939 \u0939\u0948 \u0915\u093f \u0907\u0938 \u092b\u0947\u091c \u092e\u0947\u0902 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0914\u0930 \u091c\u094d\u092f\u093e\u0926\u093e \u0928\u0939\u0940\u0902 \u0917\u093f\u0930\u0924\u0940\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0905\u092a\u0928\u0940 \u0938\u092c\u0938\u0947 \u0928\u093f\u091a\u0932\u0940 \u0915\u0940\u092e\u0924\u094b\u0902 \u092a\u0930 \u0906 \u091a\u0941\u0915\u093e \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0939\u0940 \u092c\u093e\u091c\u093e\u0930 \u0905\u092a\u0928\u093e \u0938\u092a\u094b\u0930\u094d\u091f \u0932\u0947\u0935\u0932 \u0924\u0948\u092f\u093e\u0930 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092b\u0947\u091c \u0915\u0908 \u092e\u0939\u0940\u0928\u094b\u0902 \u0924\u0915 \u091a\u0932 \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u091c\u092c \u092c\u0921\u093c\u0947 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0928\u093f\u0935\u0947\u0936\u0915 \u092f\u093e\u0928\u0940 \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u090f\u0915 \u092c\u093e\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0938\u092d\u0940 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u0924\u092c \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0938\u092a\u094b\u0930\u094d\u091f \u0926\u093f\u0916\u0928\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0938\u093e\u0925 \u0939\u0940, \u0907\u0938 \u0938\u092e\u092f \u0924\u0915 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u092e\u093e\u0939\u094c\u0932 \u092d\u0940 \u0938\u0941\u0927\u0930\u0928\u0947 \u0932\u0917\u0924\u093e \u0939\u0948, \u0907\u0938 \u0935\u091c\u0939 \u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u091c\u093e\u0928\u0947 \u0932\u0917\u0924\u0940 \u0939\u0948 \u0907\u0938\u0940\u0932\u093f\u090f \u0907\u0938\u0947 \u092e\u093e\u0930\u094d\u0915 \u0905\u092a \u092b\u0947\u091c \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u092b\u0947\u091c \u092e\u0947\u0902 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u093e\u092b\u0940 \u0924\u0947\u091c\u0940 \u0938\u0947 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u091c\u093e\u0924\u0940 \u0939\u0948 \u092f\u0939 \u0924\u0947\u091c\u0940 \u0939\u0940 \u0907\u0938 \u092b\u0947\u091c \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u093e \u092a\u0939\u091a\u093e\u0928 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964\u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0907\u0924\u0928\u0940 \u0924\u0947\u091c\u0940 \u0938\u0947 \u0906\u090f \u0907\u0938 \u0938\u0941\u0927\u093e\u0930 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0906\u092e \u0932\u094b\u0917 \u0907\u0938 \u0930\u0948\u0932\u0940 \u092e\u0947\u0902 \u0939\u093f\u0938\u094d\u0938\u093e \u0928\u0939\u0940\u0902 \u0932\u0947 \u092a\u093e\u0924\u0947 \u0939\u0948\u0902 \u092f\u093e\u0928\u0940 \u0909\u0928\u0915\u094b \u092f\u0939 \u0936\u0947\u092f\u0930 \u0928\u0939\u0940\u0902 \u092e\u093f\u0932 \u092a\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0938\u092d\u0940 \u0915\u094b \u0928\u090f \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u094b \u0914\u0930 \u090f\u0928\u0932\u093f\u0938\u094d\u091f \u0915\u094b \u0914\u0930 \u0938\u092d\u0940 \u0938\u092d\u0940 \u0915\u094b \u0907\u0928 \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902 \u0924\u0947\u091c\u0940 \u0914\u0930 \u090a\u0902\u091a\u0947 \u0938\u094d\u0924\u0930 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0928\u0947 \u0932\u0917\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u0902\u0924 \u092e\u0947\u0902 \u091c\u092c \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u092a\u0928\u0947 52 \u0939\u092b\u094d\u0924\u094b\u0902 \u0915\u0940 \u090a\u0902\u091a\u093e\u0908 \u092a\u0930 \u092f\u093e \u0905\u092c \u0924\u0915 \u0915\u0947 \u0938\u092c\u0938\u0947 \u0909\u092a\u0930\u0940 \u0938\u094d\u0924\u0930 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u0940 \u0939\u0948 \u0924\u094b \u0938\u093e\u0930\u0947 \u0932\u094b\u0917 \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0930\u0928\u0947 \u0932\u0917\u0924\u0947 \u0939\u0948\u0902, \u0905\u0916\u092c\u093e\u0930\u094b\u0902 \u092e\u0947\u0902 \u092f\u0939 \u0916\u092c\u0930\u0947\u0902 \u091b\u092a\u0928\u0947 \u0932\u0917\u0924\u0940 \u0939\u0948\u0902, \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u092e\u093e\u0939\u094c\u0932 \u0938\u0941\u0927\u0930 \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0939\u0930 \u0924\u0930\u092b \u0924\u0947\u091c\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0939\u094b\u0928\u0947 \u0932\u0917\u0924\u0940 \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0938\u092c\u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0907\u0938\u0940\u0932\u093f\u090f \u0907\u0938 \u092b\u0947\u091c \u0915\u094b \u0921\u093f\u0938\u094d\u091f\u094d\u0930\u0940\u092c\u094d\u092f\u0942\u0936\u0928 \u092b\u0947\u091c \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0938\u094d\u092e\u093e\u0930\u094d\u091f \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u0930 \u091c\u094b \u092a\u0939\u0932\u0947 \u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0918\u0941\u0938\u0947 \u0939\u0941\u090f \u0925\u0947 \u092f\u093e\u0928\u0940 \u090f\u0915\u094d\u092f\u0942\u092e\u0942\u0932\u0947\u0936\u0928 \u092b\u0947\u091c \u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0918\u0941\u0938 \u0917\u090f \u0925\u0947 \u0935\u0939 \u0905\u092c \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0909\u0928\u0915\u0947 \u0926\u094d\u0935\u093e\u0930\u093e \u092c\u0947\u091a\u0947 \u0917\u090f \u0936\u0947\u092f\u0930 \u0906\u092e \u0932\u094b\u0917 \u0916\u0930\u0940\u0926\u0924\u0947 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0907\u0938\u0938\u0947 \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u0930 \u0915\u094b \u0905\u092a\u0928\u093e \u092e\u0928\u091a\u093e\u0939\u0940 \u0915\u0940\u092e\u0924 \u092e\u093f\u0932 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u0926\u094c\u0930\u093e\u0928 \u091c\u092c \u092d\u0940 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0914\u0930 \u090a\u092a\u0930 \u091c\u093e\u0928\u0947 \u0932\u0917\u0924\u0940 \u0939\u0948 \u0924\u094b \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u0930 \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0938\u0938\u0947 \u0915\u0940\u092e\u0924 \u091c\u094d\u092f\u093e\u0926\u093e \u090a\u092a\u0930 \u0928\u0939\u0940\u0902 \u091c\u093e \u092a\u093e\u0924\u0940 \u0939\u0948\u0964 \u0910\u0938\u093e \u092c\u093e\u0930 \u092c\u093e\u0930 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0940\u0932\u093f\u090f \u092f\u0939\u093e\u0902 \u092a\u0930 \u0936\u0947\u092f\u0930 \u0915\u093e \u0930\u0947\u091c\u093f\u0938\u094d\u091f\u0947\u0902\u0938 \u0932\u0947\u0935\u0932 \u092c\u0928 \u091c\u093e\u0924\u093e \u0939\u0948", "\u0905\u0902\u0924\u0924\u0903 \u091c\u092c \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0928\u093f\u0935\u0947\u0936\u0915 \u0905\u092a\u0928\u0947 \u0938\u093e\u0930\u0947 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0915\u094b \u0938\u092a\u094b\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u093e \u0915\u094b\u0908 \u0928\u0939\u0940\u0902 \u0930\u0939 \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0940\u0932\u093f\u090f \u0921\u093f\u0938\u094d\u091f\u094d\u0930\u0940\u092c\u094d\u092f\u0942\u0936\u0928 \u092b\u0947\u091c \u0915\u0947 \u092c\u093e\u0926 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0924\u0947\u091c \u092c\u093f\u0915\u0935\u093e\u0932\u0940 \u0906\u0928\u0947 \u0932\u0917\u0924\u0940 \u0939\u0948, \u0907\u0938\u0940\u0932\u093f\u090f \u0907\u0938 \u092b\u0947\u091c \u0915\u094b \u092e\u093e\u0930\u094d\u0915 \u0921\u093e\u0909\u0928 \u0911\u092b \u092a\u094d\u0930\u093e\u0907\u0938 (mark down of prices) \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0906\u0908 \u092f\u0947 \u0924\u0947\u091c \u0917\u093f\u0930\u093e\u0935\u091f \u0906\u092e \u091c\u0928\u0924\u093e \u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u092b\u0940 \u0928\u093f\u0930\u093e\u0936\u093e\u091c\u0928\u0915 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u092f\u0947 \u091a\u0915\u094d\u0930 \u0924\u092c \u092a\u0942\u0930\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0907\u0938 \u0924\u0947\u091c \u0917\u093f\u0930\u093e\u0935\u091f \u0915\u0947 \u092c\u093e\u0926 \u092b\u093f\u0930 \u0938\u0947 \u090f\u0915\u094d\u092f\u0942\u092e\u094d\u092f\u0941\u0932\u0947\u0936\u0928 \u092b\u0947\u091c \u0936\u0941\u0930\u0942 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u092f\u0939 \u091a\u0915\u094d\u0930 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u091a\u0932\u0924\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u092f\u0939 \u092a\u0942\u0930\u093e \u091a\u0915\u094d\u0930 \u2013 \u090f\u0915\u094d\u092f\u0942\u092e\u094d\u092f\u0941\u0932\u0947\u0936\u0928 \u092b\u0947\u091c \u0938\u0947 \u0938\u0947\u0932 \u0911\u092b \u092b\u0947\u091c \u0924\u0915 \u0915\u0941\u091b \u0938\u093e\u0932\u094b\u0902 \u0924\u0915 \u091a\u0932 \u0938\u0915\u0924\u093e \u0939\u0948", "\u092f\u0939\u093e\u0902 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u0940 \u092c\u093e\u0924 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0910\u0938\u0947 \u0926\u094b \u091a\u0915\u094d\u0930 \u090f\u0915 \u091c\u0948\u0938\u0947 \u0928\u0939\u0940\u0902 \u0939\u094b \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u0905\u0917\u0930 \u092d\u093e\u0930\u0924\u0940\u092f \u0938\u0902\u0926\u0930\u094d\u092d \u092e\u0947\u0902 \u0926\u0947\u0916\u0947\u0902 \u0924\u094b 2006 \u0914\u0930 2007 \u0915\u0947 \u092c\u0940\u091a \u0915\u093e \u092c\u0941\u0932 \u092e\u093e\u0930\u094d\u0915\u0947\u091f 2013 \u0914\u0930 2014 \u0915\u0947 \u092c\u0941\u0932 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0938\u0947 \u0905\u0932\u0917 \u0925\u093e\u0964 \u0915\u092d\u0940-\u0915\u092d\u0940 \u092c\u093e\u091c\u093e\u0930 \u090f\u0915\u094d\u092f\u0942\u092e\u094d\u092f\u0941\u0932\u0947\u0936\u0928 \u0938\u0947 \u0921\u093f\u0938\u094d\u091f\u094d\u0930\u0940\u092c\u094d\u092f\u0942\u0936\u0928 \u092b\u0947\u0938 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u0928\u0947 \u092e\u0947\u0902 \u0915\u0908 \u0938\u093e\u0932 \u0932\u0947 \u0932\u0947\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0915\u0908 \u092c\u093e\u0930 \u092f\u0939 \u092a\u0942\u0930\u093e \u091a\u0915\u094d\u0930 \u0915\u0941\u091b \u092e\u0939\u0940\u0928\u094b\u0902 \u092e\u0947\u0902 \u0939\u0940 \u092a\u0942\u0930\u093e \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0916\u093f\u0932\u093e\u0921\u093c\u093f\u092f\u094b\u0902 \u0915\u094b \u092f\u0939 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0907\u0938 \u0938\u092e\u092f \u092f\u0939 \u092b\u0947\u091c \u0915\u0948\u0938\u0947 \u091a\u0932 \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0940 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0905\u092a\u0928\u0940 \u0930\u0923\u0928\u0940\u0924\u093f \u092c\u0928\u093e\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964", "\u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0940 \u0924\u0930\u0939 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u092e\u0947\u0902 \u092d\u0940 \u0915\u0941\u091b \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0928 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092e\u094c\u0915\u0947 \u0924\u0932\u093e\u0936 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u0941\u091b \u092a\u0948\u091f\u0930\u094d\u0928 \u091c\u093f\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u092e\u0947\u0902 \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0935\u0939 \u0939\u0948\u0902:", "\u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u0938\u092a\u094b\u0930\u094d\u091f \u0914\u0930 \u0930\u0947\u091c\u093f\u0938\u094d\u091f\u0947\u0902\u0938 \u090f\u0915 \u091c\u0930\u0942\u0930\u0940 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0935\u0948\u0938\u0947 \u0939\u092e \u0907\u0938\u0915\u0947\u00a0 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0939\u0932\u0947 \u0939\u0940 \u091c\u093e\u0928 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902\u0964", "\u0921\u092c\u0932 \u091f\u0949\u092a \u0914\u0930 \u0921\u092c\u0932 \u092c\u0949\u091f\u092e \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u094b \u090f\u0915 \u0930\u093f\u0935\u0930\u094d\u0938\u0932 \u092a\u0948\u091f\u0930\u094d\u0928 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u092f\u093e\u0928\u0940 \u092f\u0939\u093e\u0902 \u0938\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u092c\u0926\u0932\u0924\u093e \u0939\u0948\u0964 \u0921\u092c\u0932 \u092c\u0949\u091f\u092e \u0924\u092c \u092c\u0928\u0924\u093e \u0939\u0948 \u091c\u092c \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0928\u093f\u091a\u0932\u0947 \u0938\u094d\u0924\u0930 \u092a\u0930 \u091c\u093e\u0915\u0930 \u0935\u0939\u093e\u0902 \u0938\u0947 \u0915\u093e\u092b\u0940 \u0924\u0947\u091c\u0940 \u0938\u0947 \u0935\u093e\u092a\u0938 \u090a\u092a\u0930 \u0915\u0940 \u0913\u0930 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u0924\u0947\u091c \u0930\u092b\u094d\u0924\u093e\u0930 \u0938\u0947 \u0939\u0941\u090f \u0938\u0941\u0927\u093e\u0930 \u0915\u0947 \u092c\u093e\u0926 \u0938\u094d\u091f\u0949\u0915 \u0915\u0930\u0940\u092c 2 \u0939\u092b\u094d\u0924\u0947 \u0924\u0915 \u090f\u0915 \u090a\u0902\u091a\u0947 \u0938\u094d\u0924\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0924\u093e \u0939\u0948 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0938\u094d\u091f\u0949\u0915 \u0905\u092a\u0928\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u094d\u0924\u0930 \u0924\u0915 \u0926\u094b\u092c\u093e\u0930\u093e \u092a\u0939\u0941\u0902\u091a\u0924\u093e \u0939\u0948 \u0914\u0930 \u0905\u0917\u0930 \u0938\u094d\u091f\u0949\u0915 \u0905\u092a\u0928\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u094d\u0924\u0930 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092b\u093f\u0930 \u0938\u0947 \u090a\u092a\u0930 \u0906\u0924\u093e \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u094b \u0921\u092c\u0932 \u092c\u0949\u091f\u092e \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0921\u092c\u0932 \u092c\u0949\u091f\u092e \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u092a\u0948\u091f\u0930\u094d\u0928 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u094b\u0902 \u0915\u094b \u092f\u0939\u093e\u0902 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092e\u094c\u0915\u093e \u0924\u0932\u093e\u0936\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0928\u0940\u091a\u0947 \u0938\u093f\u092a\u094d\u0932\u093e \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0921\u092c\u0932 \u092c\u0949\u091f\u092e \u0926\u093f\u0916\u0947\u0917\u093e\u0964", "", "\u092f\u0939\u093e\u0902 \u092a\u0930 \u0926\u094b\u0928\u094b\u0902 \u092c\u0949\u091f\u092e \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0915\u0947 \u092c\u0940\u091a \u0915\u0947 \u0938\u092e\u092f \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u0926\u094b\u0928\u094b\u0902 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0915\u0941\u091b \u0938\u092e\u092f \u092c\u0940\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0921\u092c\u0932 \u091f\u0949\u092a \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u092e\u0947\u0902 \u090f\u0915 \u0936\u0947\u092f\u0930 \u0905\u092a\u0928\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u094d\u0924\u0930 \u0915\u094b \u0926\u094b \u092c\u093e\u0930 \u091b\u0942\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u093e \u0939\u0948 \u0927\u094d\u092f\u093e\u0928 \u0930\u0939\u0947 \u0915\u093f \u092f\u0939\u093e\u0902 \u092a\u0930 \u092f\u0939\u093e\u0902 \u092d\u0940 \u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b\u0936\u093f\u0936\u094b\u0902 \u0915\u0947 \u092c\u0940\u091a \u0915\u092e \u0938\u0947 \u0915\u092e 2 \u0939\u092b\u094d\u0924\u0947 \u0915\u093e \u0905\u0902\u0924\u0930 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0915\u0947\u0930\u094d\u0928 \u0907\u0902\u0921\u093f\u092f\u093e \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u093e \u0936\u0947\u092f\u0930 336 \u0915\u0947 \u0938\u094d\u0924\u0930 \u092a\u0930 \u0926\u094b \u092c\u093e\u0930 \u0921\u092c\u0932 \u091f\u0949\u092a \u092c\u0928\u093e\u0924\u093e \u0939\u0948\u0964 \u0927\u094d\u092f\u093e\u0928 \u0938\u0947 \u0926\u0947\u0916\u0928\u0947 \u092a\u0930 \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u091a\u0932\u0947\u0917\u093e \u0915\u093f \u092a\u0939\u0932\u093e \u091f\u0949\u092a 336 \u092a\u0930 \u092c\u0928\u093e \u0925\u093e \u0914\u0930 \u0926\u0942\u0938\u0930\u093e \u091f\u0949\u092a \u0915\u0930\u0940\u092c 332 \u092a\u0930 \u092c\u0928\u093e \u0925\u093e\u0964 \u0907\u0924\u0928\u093e \u0905\u0902\u0924\u0930 \u0915\u0908 \u092c\u093e\u0930 \u092e\u093e\u0928\u094d\u092f \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0915\u094b \u0921\u092c\u0932 \u091f\u0949\u092a \u092e\u093e\u0928\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u0905\u0928\u0941\u092d\u0935 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092e\u0948\u0902 \u0915\u0939 \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0921\u092c\u0932 \u091f\u0949\u092a \u0914\u0930 \u0921\u092c\u0932 \u092c\u0949\u091f\u092e \u0915\u093e\u092b\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0914\u0930 \u0909\u092a\u092f\u094b\u0917\u0940 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0916\u093e\u0938\u0915\u0930 \u0924\u092c \u091c\u092c \u0921\u092c\u0932 \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0915\u093f\u0938\u0940 \u092a\u0939\u091a\u093e\u0928\u0947 \u0939\u0941\u090f \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0915\u0947 \u0938\u093e\u0925 \u092c\u0928 \u0930\u0939\u0947 \u0939\u094b\u0902\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930, \u090f\u0915 \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u091c\u0939\u093e\u0902 \u092a\u0930 \u0921\u092c\u0932 \u091f\u0949\u092a \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u092c\u0928 \u0930\u0939\u093e \u0939\u094b \u0914\u0930 \u0926\u0942\u0938\u0930\u093e \u091f\u0949\u092a \u0910\u0938\u0947 \u092c\u0947\u092f\u0930\u093f\u0936 \u092a\u0948\u091f\u0930\u094d\u0928 \u092a\u0930 \u092c\u0928 \u0930\u0939\u093e \u0939\u094b \u091c\u0939\u093e\u0902 \u092a\u0930 \u0936\u0942\u091f\u093f\u0902\u0917 \u0938\u094d\u091f\u093e\u0930 \u0939\u094b\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0914\u0930 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928 \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u090f\u0915 \u0938\u093e\u0925 \u092c\u0928 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0914\u0930 \u090f\u0915 \u0939\u0940 \u0924\u0930\u092b \u0907\u0936\u093e\u0930\u093e \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u092a\u0930 \u092d\u0930\u094b\u0938\u093e \u092c\u0922\u093c \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0906\u092a\u0928\u0947 \u0905\u0902\u0926\u093e\u091c\u093e \u0932\u0917\u093e \u0939\u0940 \u0932\u093f\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0921\u092c\u0932 \u091f\u0949\u092a \u0915\u0940 \u0924\u0930\u0939 \u0939\u0940 \u091f\u094d\u0930\u093f\u092a\u0932 \u091f\u0949\u092a \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u092d\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0905\u0902\u0924\u0930 \u0938\u093f\u0930\u094d\u092b \u0907\u0924\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0940\u092e\u0924 \u0915\u093e \u0938\u094d\u0924\u0930 \u0926\u094b \u092c\u093e\u0930 \u0928\u0939\u0940\u0902 \u092c\u0932\u094d\u0915\u093f 3 \u092c\u093e\u0930 \u091b\u0941\u0906 \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091f\u094d\u0930\u093f\u092a\u0932 \u091f\u0949\u092a \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0915\u093e \u092e\u0924\u0932\u092c \u092d\u0940 \u0935\u0948\u0938\u0947 \u0939\u0940 \u0928\u093f\u0915\u093e\u0932\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u0948\u0938\u0947 \u0921\u092c\u0932 \u091f\u0949\u092a \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0915\u093e \u0928\u093f\u0915\u093e\u0932\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u091c\u093f\u0924\u0928\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u093e\u0930 \u0936\u0947\u092f\u0930 \u0905\u092a\u0928\u0947 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0915\u093f\u0938\u0940 \u090f\u0915 \u0938\u094d\u0924\u0930 \u0915\u094b \u091b\u0942\u0924\u093e \u0939\u0948 \u0909\u0938 \u0938\u0902\u0915\u0947\u0924 \u0915\u094b \u0909\u0924\u0928\u093e \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u091c\u092c\u0942\u0924 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0907\u0938\u0940\u0932\u093f\u090f \u091f\u094d\u0930\u093f\u092a\u0932 \u091f\u0949\u092a \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0915\u094b \u0939\u092e\u0947\u0936\u093e \u0921\u092c\u0932 \u091f\u0949\u092a \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0914\u0930 \u092e\u091c\u092c\u0942\u0924 \u0938\u0902\u0915\u0947\u0924 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 DLF\u00a0 \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u093e \u091f\u094d\u0930\u093f\u092a\u0932 \u091f\u0949\u092a \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0924\u0940\u0938\u0930\u0947 \u091f\u0949\u092a \u0915\u0947 \u092c\u093e\u0926 \u0906\u0908 \u0924\u0947\u091c \u092c\u093f\u0915\u0935\u093e\u0932\u0940 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0940\u091c\u093f\u090f, \u0907\u0938\u0938\u0947 \u091f\u094d\u0930\u093f\u092a\u0932 \u091f\u0949\u092a \u0915\u0947 \u092c\u0928\u0928\u0947 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "", "", "", "\u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0907\u0924\u0928\u0940 \u0905\u091a\u094d\u091b\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u091c\u093f\u0930\u094b\u0927\u093e \u092c\u0927\u093e\u0908 \u0915\u093e \u092a\u093e\u0924\u094d\u0930 \u0939\u0948\u0964\u0906\u092a\u0915\u093e \u092a\u094d\u0930\u092f\u093e\u0938 \u0938\u0930\u093e\u0939\u0928\u0940\u092f \u090f\u0935\u092e \u0905\u0924\u094d\u092f\u0902\u0924 \u0909\u092a\u092f\u094b\u0917\u0940 \u0939\u0948,\u0916\u093e\u0938\u0924\u094c\u0930 \u092a\u0930 \u0930\u093f\u091f\u0947\u0932 \u091f\u094d\u0930\u0947\u0921\u0930 \u0913\u0930 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u091c\u094b 2 \u0913\u0930 3 \u091f\u093f\u092f\u0930 \u0915\u094d\u0937\u0947\u0924\u094d\u0930\u094b\u0902 \u0938\u0947 \u092e\u093e\u0930\u094d\u0915\u093f\u091f \u092e\u0947\u0902 \u0939\u093f\u0938\u094d\u0938\u093e \u0932\u0947 \u0930\u0939\u0947 \u0939\u0948\u0964", "\u092e\u0928\u0940\u0937 \u091c\u0940, \u092a\u094d\u0930\u0936\u0902\u0938\u093e \u0915\u0947 \u0932\u093f\u090f \u092c\u0939\u0941\u0924 \u0927\u0928\u094d\u092f\u0935\u093e\u0926 \ud83d\ude42", "Zerodha Versity \u0915\u0947 \u0938\u092d\u0940 \u092e\u0949\u0921\u0932 \u0915\u094b \u0939\u093f\u0902\u0926\u0940 \u0914\u0930 \u0907\u0902\u0917\u094d\u0932\u093f\u0936 \u092e\u0947\u0902 \u0915\u0930 \u0926\u0947\u0924\u0947 \u0924\u094b \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0924\u093e. \u0915\u0941\u091b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0907\u0902\u0917\u094d\u0932\u093f\u0936 \u0928 \u0906\u0924\u0940 \u0939\u094b \u0924\u094b \u0935\u094b \u0907\u0917\u094d\u0932\u093f\u0936 \u0915\u0947 \u092c\u091c\u093e\u092f \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u092a\u0922 \u0938\u0915\u0924\u0947.\n\u0915\u094d\u092f\u094b\u0902\u0915\u0940 \u091c\u094b \u091a\u0940\u091c \u092a\u0948\u0938\u0947 \u0926\u0947\u0915\u0930 \u0938\u093f\u0916\u093e\u092f \u091c\u093e\u0924\u0940 \u0939\u0947 \u0935\u094b \u0906\u092a \u092b\u094d\u0930\u0940 \u092e\u0947\u0902 \u0938\u093f\u0916\u093e\u0924\u0947 \u0939\u0948. \u0907\u0938 \u0938\u0947 \u0916\u093e\u0938 \u0915\u0930 \u0930\u093f\u091f\u0947\u0932 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092c\u0939\u0941\u0924 \u0928\u0949\u0932\u0947\u091c \u092e\u093f\u0932 \u0938\u0915\u0924\u093e \u0939\u0948.\u0914\u0930 \u0909\u0928\u0915\u0947 \u0915\u093e\u092b\u0940 \u0938\u093e\u0930\u0947 \u092a\u0948\u0938\u0947 \u092d\u0940 \u092c\u091a \u0938\u0915\u0924\u0947 \u0939\u0948 .\u0906\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u093f\u091f \u0915\u093e \u0928\u0949\u0932\u0947\u091c \u0938\u0940\u0916\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0907\u0924\u0928\u0940 \u092e\u0939\u0947\u0928\u0924 \u0915\u0940 \u0909\u0928\u0915\u0947 \u0932\u093f\u090f Big Thank You \u0914\u0930 \u0906\u0928\u0947 \u0938\u092e\u092f \u092e\u0947\u0902 Zerodha Versity Module HIndi and English \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u0939\u094b \u091c\u093e\u092f \u0909\u0928\u0915\u0947 \u0932\u093f\u090f Advance\u092e\u0947\u0902 once again thank you.", "\u0939\u092e \u0907\u0938 \u092a\u0930 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0938\u092d\u0940 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u092d\u0940 \u091c\u0932\u094d\u0926 \u0939\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u094b\u0902\u0917\u0947\u0964 \u0914\u0930 \u0939\u092e \u0906\u092a\u0915\u0947 \u0906\u092d\u093e\u0930\u0940 \u0939\u0948\u0902 \u0915\u093f \u0939\u092e \u0906\u092a\u0915\u0940 \u092e\u0926\u0926 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u0938\u0915\u094d\u0937\u092e \u0939\u0948\u0902\u0964", "\u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0907\u0924\u0928\u0940 \u0905\u091a\u094d\u091b\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u091c\u093f\u0930\u094b\u0927\u093e \u092c\u0927\u093e\u0908 \u0915\u093e \u092a\u093e\u0924\u094d\u0930 \u0939\u0948\nZerodha Versity Module HIndi and English \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u0939\u094b \u091c\u093e\u092f \u0909\u0928\u0915\u0947 \u0932\u093f\u090f Advance\u092e\u0947\u0902 once again thank you.", "\u0939\u092e \u0906\u092a\u0915\u0940 \u092e\u0926\u0926 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092d\u093e\u0930\u0940 \u0939\u0948\u0902\u0964", "Thanks for HINDI me available karne ke liye", "\u0939\u092e \u0906\u092a\u0915\u0940 \u092e\u0926\u0926 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092d\u093e\u0930\u0940 \u0939\u0948\u0902\u0964", "Thanks you So so so \u2026 Much zerodha..\n\u092e\u0941\u091d\u0947 Zerodha \u0915\u0947 \u0938\u093e\u0925 \u091c\u0941\u095c\u0915\u0930 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0915\u0941\u091b learn \u0915\u0930\u0928\u0947 \u0915\u094b \u092e\u093f\u0932 \u0930\u0939\u093e \u0939\u0948\u0964\n\u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0916\u0941\u0936 \u0939\u0942\u0902 \u0915\u093f \u092e\u0947\u0902 zerodha \u092a\u0930\u093f\u0935\u093e\u0930 \u0915\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u0941\u0964", "\u0939\u092e \u0906\u092a\u0915\u0940 \u092e\u0926\u0926 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092d\u093e\u0930\u0940 \u0939\u0948\u0902\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch17-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/phases.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch17-Chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch17-Chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch17-Chart3.jpg", "https://secure.gravatar.com/avatar/47669ea75f1d890133602f680ac2db3b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3f4e4c4f19d6f94c239426e95f9e67e4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/bb2ac233a3219eb9e9b5ca15711bcc2b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/c94a26f8617ef8281109aba73de9e467?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b3b3ad629164d824fcef4405a76691f7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u0915\u094d\u0930\u092e \u0938\u0902</th>\n<th>\u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924</th>\n<th>\u0907\u0938\u0915\u093e \u0905\u0930\u094d\u0925 \u0915\u094d\u092f\u093e \u0939\u0948?</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>1</td>\n<td>\u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0939\u0930 \u091a\u0940\u091c \u0915\u094b \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0915\u0930 \u0932\u0947\u0924\u093e \u0939\u0948</td>\n<td>\u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0909\u0938 \u0939\u0930 \u0916\u092c\u0930 \u0915\u094b \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0915\u0930 \u0932\u0947\u0924\u093e \u0939\u0948 \u091c\u094b \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915 \u0939\u0948 \u092f\u093e \u091b\u0941\u092a\u0940 \u0939\u0941\u0908 \u092d\u0940 \u0939\u0948\u0964 \u0905\u0917\u0930 \u0905\u091a\u093e\u0928\u0915 \u0915\u094b\u0908 \u0918\u091f\u0928\u093e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u0924\u094b \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092e\u0947\u0902 \u0909\u0938 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092c\u0922\u0924 \u092f\u093e \u0917\u093f\u0930\u093e\u0935\u091f \u0906 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u092f\u0947 \u0938\u0939\u0940 \u0915\u0940\u092e\u0924 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u093e \u0939\u0948</td>\n</tr>\n<tr>\n<td>2</td>\n<td>\u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0941\u0932 \u0924\u0940\u0928 \u0924\u0930\u0939 \u0915\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902</td>\n<td>\u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921,\u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0914\u0930 \u092e\u093e\u0907\u0928\u0930 (Minor) \u091f\u094d\u0930\u0947\u0902\u0921</td>\n</tr>\n<tr>\n<td>3</td>\n<td>\u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921</td>\n<td>\u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u092e\u0941\u0916\u094d\u092f \u091f\u094d\u0930\u0947\u0902\u0921 \u0939\u0948 \u091c\u094b \u090f\u0915 \u0935\u0930\u094d\u0937 \u0938\u0947 \u0915\u0908 \u0935\u0930\u094d\u0937\u094b\u0902 \u0924\u0915 \u091a\u0932\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0932\u0902\u092c\u0940 \u0914\u0930 \u092c\u0921\u093c\u0940 \u0926\u093f\u0936\u093e \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0928\u093f\u0935\u0947\u0936\u0915 \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u094b \u0939\u0940 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902, \u091c\u092c\u0915\u093f \u090f\u0915 \u0938\u0915\u094d\u0930\u093f\u092f \u091f\u094d\u0930\u0947\u0921\u0930 \u0938\u092d\u0940 \u0924\u0930\u0939 \u0915\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u0930\u0941\u091a\u093f \u0930\u0916\u0924\u093e \u0939\u0948\u0964 \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u092f\u093e\u0928\u0940 \u0905\u092a\u091f\u094d\u0930\u0947\u0902\u0921(Uptrend)\u092f\u093e \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u092f\u093e\u0928\u0940 \u0921\u093e\u0909\u0928\u091f\u094d\u0930\u0947\u0902\u0921(Downtrend)\u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u0915\u0941\u091b \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948</td>\n</tr>\n<tr>\n<td>4</td>\n<td>\u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921</td>\n<td>\u092f\u0947 \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u0906 \u0930\u0939\u0947 \u0915\u0930\u0947\u0915\u094d\u0936\u0928 \u0939\u0948\u0902\u0964 \u0906\u092a \u0907\u0928\u094d\u0939\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u092e\u0947\u0902 \u092a\u0948\u0926\u093e \u0939\u0941\u090f \u091b\u094b\u091f\u0940 \u092e\u094b\u091f\u0940 \u0930\u0942\u0915\u093e\u0935\u091f \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930- \u092c\u0941\u0932 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u0906\u092f\u093e \u0915\u0930\u0947\u0915\u094d\u0936\u0928,\u092c\u0947\u092f\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u0906\u092f\u093e \u0938\u0941\u0927\u093e\u0930 \u092f\u093e \u0930\u0948\u0932\u0940\u0964 \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0938\u0947 \u0909\u0932\u094d\u091f\u093e \u091a\u0932\u0928\u0947 \u0935\u093e\u0932\u093e \u092f\u0947 \u0938\u0947\u0915\u0902\u0921\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0941\u091b \u0939\u092b\u094d\u0924\u094b\u0902 \u092f\u093e \u0915\u092d\u0940-\u0915\u092d\u0940 \u0915\u0941\u091b \u092e\u0939\u0940\u0928\u094b\u0902 \u0924\u0915 \u092d\u0940 \u091a\u0932 \u0938\u0915\u0924\u093e \u0939\u0948\u0964</td>\n</tr>\n<tr>\n<td>5</td>\n<td>\u092e\u093e\u0907\u0928\u0930 \u091f\u094d\u0930\u0947\u0902\u0921/\u0926\u0948\u0928\u093f\u0915 \u0909\u0924\u093e\u0930-\u091a\u0922\u093e\u0935</td>\n<td>\u092f\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0939\u0930 \u0926\u093f\u0928 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u0909\u0924\u093e\u0930-\u091a\u0922\u093e\u0935 \u0939\u0948\u0902\u0964 \u0915\u0941\u091b \u091f\u094d\u0930\u0947\u0921\u0930 \u0907\u0938\u0947 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0928\u0949\u092f\u091c (Market- noise)\u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964</td>\n</tr>\n<tr>\n<td>6</td>\n<td>\u0938\u092d\u0940 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0938\u0947 \u092a\u0941\u0937\u094d\u091f\u093f \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f</td>\n<td>\u0939\u092e \u0915\u0947\u0935\u0932 \u090f\u0915 \u0938\u0942\u091a\u0915\u093e\u0902\u0915 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u090f\u0915 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0928\u0939\u0940\u0902 \u0915\u0930 \u0938\u0915\u0924\u0947\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0924\u0947\u091c\u0940 \u0924\u092d\u0940 \u092e\u093e\u0928\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u091c\u092cCNX\u0928\u093f\u092b\u094d\u091f\u0940,CNX\u0928\u093f\u092b\u094d\u091f\u0940 \u092e\u093f\u0921\u0915\u0948\u092a,CNX\u0928\u093f\u092b\u094d\u091f\u0940 \u0938\u094d\u092e\u0949\u0932\u0915\u0948\u092a \u0906\u0926\u093f \u0938\u092d\u0940 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u090f\u0915 \u0939\u0940 \u0938\u093e\u0925 \u090a\u092a\u0930 \u0915\u0940 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u091a\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u0947\u0935\u0932CNX\u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u0940 \u0924\u0947\u091c\u0940 \u0938\u0947 \u092c\u093e\u091c\u093e\u0930\u094b\u0902 \u092e\u0947\u0902 \u0924\u0947\u091c\u0940 \u0915\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0924\u092f \u0915\u0930\u0928\u093e \u0938\u0902\u092d\u0935 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e</td>\n</tr>\n<tr>\n<td>7</td>\n<td>\u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0938\u0947 \u092d\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f</td>\n<td>\u0915\u0940\u092e\u0924 \u0915\u0947 \u0938\u093e\u0925-\u0938\u093e\u0925 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0938\u0947 \u092d\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u0905\u0917\u0930 \u092c\u093e\u091c\u093e\u0930 \u090a\u092a\u0930 \u0915\u0940 \u0913\u0930 \u091c\u093e \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u092f\u0947 \u090f\u0915 \u091f\u094d\u0930\u0947\u0902\u0921 \u0939\u0948 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u092c\u0922\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092d\u0940 \u092c\u0922\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0914\u0930 \u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u0906\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092d\u0940 \u0928\u0940\u091a\u0947 \u0906\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964\u0928\u0940\u091a\u0947 \u0915\u0947 \u091f\u094d\u0930\u0947\u0902\u0921 \u0935\u093e\u0932\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0917\u093f\u0930\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092c\u0922\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0914\u0930 \u0915\u0940\u092e\u0924 \u092c\u0922\u0928\u0947 \u092a\u0930 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u092e \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0905\u0927\u094d\u092f\u093e\u092f 12 \u092e\u0947\u0902 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u094b \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0938\u092e\u091d\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964</td>\n</tr>\n<tr>\n<td>8</td>\n<td>\u0938\u093e\u0907\u0921\u0935\u0947\u091c \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u0947\u0916\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948</td>\n<td>\u092c\u093e\u091c\u093e\u0930 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0924\u0915 \u090f\u0915 \u0938\u0940\u092e\u093f\u0924 \u0926\u093e\u092f\u0930\u0947 \u092e\u0947\u0902 (\u0938\u093e\u0907\u0921\u0935\u0947\u091c) \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 2010 \u0938\u0947 2013 \u0915\u0947 \u092c\u0940\u091a \u0930\u093f\u0932\u093e\u092f\u0902\u0938 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940\u091c \u0915\u093e \u0936\u0947\u092f\u0930 860 \u0938\u0947 990 \u0915\u0947 \u092c\u0940\u091a \u0939\u0940 \u0925\u093e\u0964 \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0940 \u091c\u0917\u0939 \u0926\u0947\u0916\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948</td>\n</tr>\n<tr>\n<td>9</td>\n<td>\u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u0915\u0940\u092e\u0924 \u0938\u092c\u0938\u0947 \u0905\u0927\u093f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b\u0924\u0940 \u0939\u0948</td>\n<td>\u0913\u092a\u0928, \u0939\u093e\u0908, \u0932\u094b \u0914\u0930 \u0915\u094d\u0932\u094b\u091c \u092e\u0947\u0902 \u0938\u0947 \u0915\u094d\u0932\u094b\u091c \u0915\u093e \u092e\u0939\u0924\u094d\u0935 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0905\u0902\u0924\u093f\u092e \u0915\u0940\u092e\u0924 \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "1. \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u093e \u092a\u0930\u093f\u091a\u092f", "text": ["\u0915\u093f\u0938\u0940 \u092d\u0940 \u092c\u093f\u091c\u093c\u0928\u0947\u0938 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092b\u093c\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u0915\u094b\u0908 \u0928\u093f\u0935\u0947\u0936\u0915 \u0932\u092e\u094d\u092c\u0947 \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0915\u094b \u0909\u0938 \u092c\u093f\u091c\u093c\u0928\u0947\u0938 \u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u091c\u093f\u0938\u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930 \u0930\u0939\u093e \u0939\u0948\u0964 \u092b\u093c\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092c\u093f\u091c\u093c\u0928\u0947\u0938 \u0915\u094b \u0915\u0908 \u0924\u0930\u092b \u0938\u0947 \u0926\u0947\u0916\u0928\u0947 \u0914\u0930 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0907\u0938\u0940 \u0915\u093e\u092e \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947 \u0932\u093f\u090f \u092f\u0947 \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0935\u094b \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0939\u0930 \u0926\u093f\u0928 \u0915\u0947 \u0936\u094b\u0930\u0917\u0941\u0932 \u0938\u0947 \u0905\u0932\u0917 \u0939\u091f \u0915\u0930 \u092c\u093f\u091c\u093c\u0928\u0947\u0938 \u0915\u0947 \u0915\u093e\u092e\u0915\u093e\u091c \u092a\u0930 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0947\u0964 \u092b\u093c\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u0924\u094c\u0930 \u092a\u0930 \u092e\u091c\u093c\u092c\u0942\u0924 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u093c\u0940\u092e\u0924 \u0938\u092e\u092f \u0915\u0947 \u0938\u093e\u0925 \u092c\u0922\u093c\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u094b \u092b\u093c\u093e\u092f\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964\n\n\u092d\u093e\u0930\u0924\u0940\u092f \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u0910\u0938\u0947 \u0915\u0908 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948\u0902 \u091c\u0948\u0938\u0947 \u0907\u0928\u092b\u093c\u094b\u0938\u093f\u0938, TCS, \u092a\u0947\u091c \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940, \u0906\u092f\u0936\u0930 \u092e\u094b\u091f\u0930\u094d\u0938, \u092c\u0949\u0936 \u0907\u0902\u0921\u093f\u092f\u093e, \u0928\u0947\u0938\u094d\u0932\u0947 \u0907\u0902\u0921\u093f\u092f\u093e, TTK \u092a\u094d\u0930\u0947\u0938\u094d\u091f\u0940\u091c \u0906\u0926\u093f\u0964 \u0907\u0928\u092e\u0947\u0902 \u0938\u0947 \u0939\u0930 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0926\u0938 \u0938\u093e\u0932 \u0938\u0947 \u091c\u093c\u094d\u092f\u093e\u0926\u093e \u0924\u0915 \u0914\u0938\u0924\u0928 20% \u0938\u0947 \u091c\u093c\u094d\u092f\u093e\u0926\u093e \u0915\u093e \u0915\u092e\u094d\u092a\u093e\u0909\u0902\u0921 \u0935\u093e\u0930\u094d\u0937\u093f\u0915 \u0930\u093f\u091f\u0930\u094d\u0928 (CAGR) \u0926\u093f\u092f\u093e \u0939\u0948\u0964 \u0906\u092a \u0907\u0938\u0947 \u0910\u0938\u0947 \u0938\u092e\u091d \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0907\u0928\u092e\u0947\u0902 \u092a\u0948\u0938\u093e \u0932\u0917\u093e\u0928\u0947 \u0935\u093e\u0932\u0947 \u0939\u0930 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u093e \u092a\u0948\u0938\u093e 3.5 \u0938\u093e\u0932 \u092e\u0947\u0902 \u0926\u094b\u0917\u0941\u0928\u093e \u0939\u094b \u0930\u0939\u093e \u0925\u093e\u0964 CAGR \u0930\u093f\u091f\u0930\u094d\u0928 \u091c\u093f\u0924\u0928\u093e \u091c\u093c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0917\u093e \u0906\u092a\u0915\u0940 \u092a\u0942\u0901\u091c\u0940 \u0909\u0924\u0928\u0940 \u0939\u0940 \u0924\u0947\u091c\u093c\u0940 \u0938\u0947 \u092c\u0922\u093c\u0947\u0917\u0940\u0964 \u092c\u0949\u0936 \u0907\u0902\u0921\u093f\u092f\u093e \u091c\u0948\u0938\u0940 \u0915\u0941\u091b \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0928\u0947 \u0924\u094b 30% \u0924\u0915 \u0915\u093e CAGR \u0926\u093f\u092f\u093e \u0939\u0948\u0964 \u0924\u094b \u0905\u092c \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u0906 \u0917\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u092b\u093c\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u0924\u094c\u0930 \u092a\u0930 \u092e\u091c\u093c\u092c\u0942\u0924 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0915\u0947 \u0915\u093f\u0924\u0928\u0940 \u0924\u0947\u091c\u093c\u0940 \u0938\u0947 \u0914\u0930 \u0915\u093f\u0924\u0928\u093e \u091c\u093c\u094d\u092f\u093e\u0926\u093e \u092a\u0948\u0938\u093e \u0915\u092e\u093e\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964\u00a0\n\n\u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u092c\u0949\u0936 \u0907\u0902\u0921\u093f\u092f\u093e, \u0906\u092f\u0936\u0930 \u092e\u094b\u091f\u0930\u094d\u0938 \u0914\u0930 TCS \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916 \u0915\u0930 \u0906\u092a \u0905\u0928\u094d\u0926\u093e\u091c\u093c\u093e \u0932\u0917\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0932\u092e\u094d\u092c\u0947 \u0938\u092e\u092f \u092e\u0947\u0902 \u0938\u092e\u094d\u092a\u0924\u094d\u0924\u093f \u0915\u0948\u0938\u0947 \u092c\u0922\u093c\u0924\u0940 \u0939\u0948\u0964 \u092f\u093e\u0926 \u0930\u0939\u0947 \u0915\u093f \u092d\u093e\u0930\u0924\u0940\u092f \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0947 \u0915\u0908 \u0909\u0926\u093e\u0939\u0930\u0923\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u092f\u0947 \u0938\u093f\u0930\u094d\u092b\u093c \u0924\u0940\u0928 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948\u0902\u0964", "", "\u0906\u092a\u0915\u094b \u0932\u0917 \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u092e\u0948\u0902 \u0938\u093f\u0930\u094d\u092b\u093c \u0905\u091a\u094d\u091b\u0947-\u0905\u091a\u094d\u091b\u0947 \u091a\u093e\u0930\u094d\u091f \u0926\u093f\u0916\u093e \u0930\u0939\u093e \u0939\u0942\u0901\u0964 \u0906\u092a \u0938\u094b\u091a \u0930\u0939\u0947 \u0939\u094b\u0902\u0917\u0947 \u0915\u093f \u0938\u0941\u091c\u093c\u0932\u0949\u0928 \u090f\u0928\u0930\u094d\u091c\u0940, \u0930\u093f\u0932\u093e\u092f\u0902\u0938 \u092a\u093e\u0935\u0930 \u0914\u0930 \u0938\u094d\u091f\u0930\u094d\u0932\u093f\u0902\u0917 \u092c\u0949\u092f\u094b\u091f\u0947\u0915 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u0948\u0938\u0947 \u0926\u093f\u0916\u0947\u0902\u0917\u0947\u0964 \u0907\u0928\u0915\u094b \u092d\u0940 \u0926\u0947\u0916\u093f\u090f\u0964", "\u092a\u0948\u0938\u0947 \u0921\u0941\u092c\u093e\u0928\u0947 \u0935\u093e\u0932\u0947 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0909\u0926\u093e\u0939\u0930\u0923\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u092f\u0947 \u0938\u093f\u0930\u094d\u092b\u093c \u0924\u0940\u0928 \u0939\u0948\u0902\u0964", "\u092a\u0948\u0938\u093e \u0915\u092e\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092f\u0947 \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u092e\u093e\u0908 \u0915\u0930\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0914\u0930 \u0928\u0941\u0915\u093c\u0938\u093e\u0928 \u0915\u0930\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u092b\u093c\u0930\u094d\u0915\u093c \u0915\u094b \u092a\u0939\u091a\u093e\u0928\u0947\u0902\u0964 \u0915\u092e\u093e\u0908 \u0915\u0930\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0939\u0930 \u0915\u0902\u092a\u0928\u0940 \u092e\u0947\u0902 \u0915\u0941\u091b \u0917\u0941\u0923 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u0909\u0928\u0915\u094b \u0905\u0932\u0917 \u0938\u0947 \u0926\u093f\u0916\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u092a\u0948\u0938\u093e \u0921\u0941\u092c\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u092d\u0940 \u0915\u0941\u091b \u0916\u093c\u093e\u0938 \u092a\u0939\u091a\u093e\u0928 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0905\u091a\u094d\u091b\u093e \u0928\u093f\u0935\u0947\u0936\u0915 \u0909\u0938\u0947 \u092a\u0939\u091a\u093e\u0928 \u0932\u0947\u0924\u093e \u0939\u0948\u0964\n\n\u092b\u093c\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0935\u094b \u0924\u0915\u0928\u0940\u0915 \u0939\u0948 \u091c\u094b \u0906\u092a\u0915\u094b \u0938\u0939\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u092a\u0939\u091a\u093e\u0928 \u0915\u0930 \u0932\u092e\u094d\u092c\u0947 \u0938\u092e\u092f \u0915\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0932\u093f\u090f \u092d\u0930\u094b\u0938\u093e \u0926\u0947\u0924\u0940 \u0939\u0948\u0964", "\u0906\u092a \u092c\u093f\u0932\u0915\u0941\u0932 \u092c\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0947 \u090f\u0915 \u0917\u093c\u0932\u0924\u092b\u093c\u0939\u092e\u0940 \u0939\u0948 \u0915\u093f \u0938\u093f\u0930\u094d\u092b\u093c \u091a\u093e\u0930\u094d\u091f\u0930\u094d\u0921 \u0905\u0915\u093e\u0909\u0902\u091f\u0902\u091f \u092f\u093e \u0915\u0949\u092e\u0930\u094d\u0938 \u0915\u0947 \u092c\u0948\u0915\u0917\u094d\u0930\u093e\u0909\u0902\u0921 \u0935\u093e\u0932\u0947 \u0932\u094b\u0917 \u0939\u0940 \u0905\u091a\u094d\u091b\u0947 \u092b\u093c\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u092c\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u092b\u093c\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u092c\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u092c\u0938 \u0915\u0941\u091b \u091a\u0940\u091c\u093c\u0947\u0902 \u0938\u0940\u0916\u0928\u0940 \u0939\u094b\u0902\u0917\u0940\u0964:", "\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u090a\u092a\u0930 \u0915\u0940 \u0932\u093f\u0938\u094d\u091f \u092e\u0947\u0902 \u0938\u0947 \u092a\u0939\u0932\u0940 \u0926\u094b \u091a\u0940\u091c\u093c\u094b\u0902 \u0915\u094b \u0938\u0940\u0916\u0947\u0902\u0917\u0947 \u091c\u093f\u0938\u0938\u0947 \u0939\u092e\u0947\u0902 \u092b\u093c\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0906 \u0938\u0915\u0947\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0906\u092a\u0915\u094b \u091b\u094b\u091f\u0947 \u092b\u093c\u093e\u092f\u0926\u0947 \u0926\u093f\u0932\u093e\u0924\u0940 \u0939\u0948\u0964 \u092f\u0947 \u0906\u092a\u0915\u094b \u092c\u093e\u091c\u093c\u093e\u0930 \u092e\u0947\u0902 \u090f\u0902\u091f\u094d\u0930\u0940 \u0914\u0930 \u090f\u0917\u094d\u091c\u093c\u093f\u091f \u0915\u093e \u0938\u0939\u0940 \u0938\u092e\u092f \u092c\u0924\u093e\u0924\u0940 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u092f\u0947 \u0938\u092e\u094d\u092a\u0924\u094d\u0924\u093f \u092c\u0922\u093c\u093e\u0928\u0947 \u0915\u093e \u0938\u0939\u0940 \u0924\u0930\u0940\u0915\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0906\u092a \u0905\u092e\u0940\u0930 \u0924\u092d\u0940 \u092c\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u0906\u092a \u0905\u091a\u094d\u091b\u093e \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0947\u0902\u0964 \u0935\u0948\u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u092f\u0947 \u0939\u094b\u0917\u093e \u0915\u093f \u0906\u092a \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u0910\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0914\u0930 \u092b\u093c\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u0910\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0947\u0902\u0964 \u0907\u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u092c\u093e\u0930 \u092b\u093f\u0930 \u0938\u0947 \u0906\u092f\u0936\u0930 \u092e\u094b\u091f\u0930\u094d\u0938 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u090f\u0915 \u0928\u093f\u0935\u0947\u0936\u0915 \u0906\u092f\u0936\u0930 \u092e\u094b\u091f\u0930\u094d\u0938 \u0915\u094b \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u0924\u094c\u0930 \u092a\u0930 \u092e\u091c\u092c\u0942\u0924 \u0936\u0947\u092f\u0930 \u092e\u093e\u0928\u0915\u0930 \u0909\u0938 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0909\u0938\u0928\u0947 2006 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u092a\u0948\u0938\u0947 \u0932\u0917\u093e\u090f, \u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f 2006 \u0938\u0947 2010 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u0915 \u0928\u0947 \u0915\u094b\u0908 \u0916\u093e\u0938 \u092a\u0948\u0938\u0947 \u0928\u0939\u0940\u0902 \u092c\u0928\u093e\u090f\u0964 \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u0924\u0947\u091c\u0940 2010 \u0915\u0947 \u092c\u093e\u0926 \u0939\u0940 \u0936\u0941\u0930\u0942 \u0939\u0941\u0908\u0964 \u0907\u0938\u0915\u093e \u092f\u0939 \u092d\u0940 \u092e\u0924\u0932\u092c \u0939\u0941\u0906 \u0915\u093f \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0915\u093f\u090f \u0917\u090f \u0907\u0938 \u0928\u093f\u0935\u0947\u0936 \u092e\u0947\u0902 \u0906\u092f\u0936\u0930 \u092e\u094b\u091f\u0930\u094d\u0938 \u0928\u0947 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u094b \u0905\u091a\u094d\u091b\u093e \u0930\u093f\u091f\u0930\u094d\u0928 \u0928\u0939\u0940\u0902 \u0926\u093f\u092f\u093e\u0964 2006 \u0938\u0947 2010 \u0915\u0947 \u092c\u0940\u091a \u0907\u0938 \u0928\u093f\u0935\u0947\u0936\u0915 \u0928\u0947 \u0905\u0917\u0930 \u091b\u094b\u091f\u0947-\u091b\u094b\u091f\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u093f\u090f \u0939\u094b\u0924\u0947 \u0924\u094b \u0909\u0938\u0915\u094b \u091c\u094d\u092f\u093e\u0926\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u094b \u0938\u0915\u0924\u093e \u0925\u093e\u0964 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u091b\u094b\u091f\u0947 \u0938\u094c\u0926\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092b\u093e\u092f\u0926\u0947\u092e\u0902\u0926 \u0939\u094b\u0924\u093e \u0939\u0948 \u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0906\u092a\u0915\u094b \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0914\u0930 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0938\u093e\u0925\u2013\u0938\u093e\u0925 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0907\u0938\u0940 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0939\u0948 \u092a\u0948\u0938\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u0915\u0940 \u090f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0930\u0923\u0928\u0940\u0924\u093f \u091c\u093f\u0938\u0915\u094b \u0915\u094b\u0930 \u0938\u0948\u091f\u0947\u0932\u093e\u0907\u091f \u0938\u094d\u091f\u094d\u0930\u0948\u091f\u0947\u091c\u0940 (The Core Satellite Strategy) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u090f\u0915 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947 \u092a\u093e\u0938 \u20b9500,000 \u0939\u0948\u0902 \u0935\u0939 \u0907\u0938\u0915\u094b \u0926\u094b \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u0924\u093e \u0939\u0948 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 60% \u0914\u0930 40% \u0915\u0947 \u0905\u0928\u0941\u092a\u093e\u0924 \u092e\u0947\u0902\u0964 \u0907\u0938 \u0930\u093e\u0936\u093f \u0915\u093e 60% \u092f\u093e\u0928\u0940 \u20b9300,000 \u0935\u0939 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0924\u093e \u0939\u0948 \u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0932\u093f\u090f \u0914\u0930 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0935\u0939 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u0924\u094c\u0930 \u092a\u0930 \u092e\u091c\u092c\u0942\u0924 \u0915\u0902\u092a\u0928\u0940 \u0922\u0942\u0902\u0922\u0924\u093e \u0939\u0948\u0964 \u20b9300,000 \u0915\u093e \u092f\u0939 \u0928\u093f\u0935\u0947\u0936 \u0909\u0938\u0915\u093e \u0915\u094b\u0930 \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u092c\u0928\u0924\u093e \u0939\u0948\u0964 \u0906\u092a \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u094b\u0930 \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u0915\u092e \u0938\u0947 \u0915\u092e 12 \u0938\u0947 15% CAGR \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0939\u0930 \u0938\u093e\u0932 \u092c\u0922\u093c\u0947\u0917\u093e\u0964 \u092c\u093e\u0915\u0940 \u092c\u091a\u093e \u0939\u0941\u0906 40% \u092a\u0948\u0938\u093e \u092f\u093e\u0928\u0940 \u20b9200,000 \u091b\u094b\u091f\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u090f \u091c\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0924\u0915\u0928\u0940\u0915 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0947 \u0938\u0948\u091f\u0947\u0932\u093e\u0907\u091f \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938\u092e\u0947\u0902 \u092d\u0940 10 \u0938\u0947 12% \u0915\u0947 \u0930\u093f\u091f\u0930\u094d\u0928 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0940 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "", "\u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0932\u093f\u090f \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0940 \u091c\u093e\u0928\u0947 \u0935\u093e\u0932\u0947 \u091f\u0942\u0932\u094d\u0938 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0938\u093e\u0927\u093e\u0930\u0923 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u0915\u093f \u0938\u092c\u0915\u0947 \u0932\u093f\u090f \u092e\u0941\u092b\u094d\u0924 \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u091a\u093e\u0939\u093f\u090f:", "\u0907\u0928 \u091a\u093e\u0930 \u091f\u0942\u0932\u094d\u0938 \u092f\u093e\u0928\u0940 \u0909\u092a\u0915\u0930\u0923 \u0915\u0940 \u092e\u0926\u0926 \u0938\u0947 \u0906\u092a \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092f\u0939 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0926\u0942\u0938\u0930\u0947 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u0915\u0940 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u0915\u092e \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964 \u092c\u0921\u093c\u0940-\u092c\u0921\u093c\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0930\u093f\u0938\u0930\u094d\u091a \u0921\u093f\u092a\u093e\u0930\u094d\u091f\u092e\u0947\u0902\u091f \u092d\u0940 \u0910\u0938\u0947 \u0939\u0940 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0928\u0915\u0940 \u092d\u0940 \u0915\u094b\u0936\u093f\u0936 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u093f \u0909\u0928\u0915\u0940 \u0930\u093f\u0938\u0930\u094d\u091a \u0938\u0940\u0927\u0940 \u0938\u0930\u0932 \u0914\u0930 \u0924\u0930\u094d\u0915\u0938\u0902\u0917\u0924 \u0939\u094b\u0964", "introduction of Fundamental Analysisi provide me belief that, i can also achieve in my life as well. Thanks Zerodha for providing such valuable information.", "Happy to note that, Anupama. Keep going \ud83d\ude42", "surprised, after see good company chart with CAGR return. i always doing trading but not get good return better is long term.", "\u0938\u092e\u093e\u091a\u093e\u0930 \u092f\u093e \u0916\u092c\u0930\u094b\u0902 \u092a\u0930 \u0928\u091c\u093c\u0930\u2013 \u0939\u0930 \u0926\u093f\u0928 \u0915\u0940 \u0916\u092c\u0930 \u0906\u092a\u0915\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902, \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0914\u0930 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0964 \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0938\u092e\u093e\u091a\u093e\u0930 \u092a\u0924\u094d\u0930 \u092f\u093e \u0928\u094d\u092f\u0942\u091c\u093c \u091a\u0948\u0928\u0932 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u092e \u0906 \u0938\u0915\u0924\u093e \u0939\u0948\u0964\nKonsa news channel dekhe", "\u0906\u092a \u0910\u0938\u093e \u0915\u094b\u0908 \u092d\u0940 \u0928\u094d\u092f\u0942\u095b \u091a\u0948\u0928\u0932 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u0939\u093e\u0901 \u0906\u092a\u0915\u094b \u0938\u0939\u0940 \u0916\u092d\u0930 \u092e\u093f\u0932 \u0930\u0939\u0940 \u0939\u094b\u0964 \u0938\u0940.\u0910\u0928.\u092c\u0940.\u0938\u0940 \u0906\u0935\u093e\u095b \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0939\u093f\u0902\u0926\u0940 \u092c\u093f\u095b\u0928\u0947\u0938 \u0928\u094d\u092f\u0942\u095b \u091a\u0948\u0928\u0932 \u0939\u0948\u0964", "\u0938\u0930 \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0928\u094d\u092f\u0942\u095b \u092a\u0948\u092a\u0930 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0915\u094c\u0928\u0938\u093e \u0939\u0948\u0964", "investors psychology and more important is market psychology should be added along with technical and fundamental analysis", "Thank you for your suggestion, we will look into this.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch1title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch1-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch1-chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch1-chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch1-chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch1-chart5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch1-chart6.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch1-chart7.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/Core1.jpg", "https://secure.gravatar.com/avatar/acb3734d73e2de2b876208d7348e8cf5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/eb05831bf3769bf5b2f2c6c11b80bb16?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f0aa2d0b58339801b0fb34b97577824d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/652a8bff5fdd4e21638d9fd1570a19c5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f761eae8f9afcb1b7be7f21025a9566a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "19. \u0936\u0941\u0930\u0942 \u0915\u0930\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u0941\u091b \u091c\u093c\u0930\u0942\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940", "text": ["", "\u092a\u093f\u091b\u0932\u0947 18 \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0915\u0908 \u092a\u0939\u0932\u0941\u0913\u0902 \u0915\u094b \u0938\u0940\u0916\u093e \u0939\u0948\u0964 \u092f\u0926\u093f \u0906\u092a\u0928\u0947 \u0938\u092d\u0940 \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u092a\u0922\u093c\u093e \u0914\u0930 \u0938\u092e\u091d\u093e \u0939\u0948 \u0924\u094b \u0906\u092a \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0930\u0942\u092a \u0938\u0947 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0936\u0941\u0930\u0942 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u092e\u094c\u0915\u0947 \u092a\u0939\u091a\u093e\u0928\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u092e\u0948\u0902\u0928\u0947 \u091c\u094b \u0938\u0941\u091d\u093e\u0935 \u0926\u093f\u090f \u0939\u0948\u0902, \u0935\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u092e\u0947\u0930\u0947 \u0905\u0928\u0941\u092d\u0935 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0939\u0948\u0902\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0936\u0941\u0930\u0942 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u090f\u0915 \u091a\u093e\u0930\u094d\u091f \u0935\u093f\u091c\u093c\u0941\u0905\u0932\u093e\u0907\u091c\u093c\u0947\u0936\u0928 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 (Chart Visualisation Software) \u0915\u0940 \u091c\u093c\u0930\u0942\u0930\u0924 \u0939\u094b\u0917\u0940, \u0907\u0938\u0947 \u2018\u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 (Charting Software)\u2018 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0906\u092a\u0915\u094b \u0935\u093f\u092d\u093f\u0928\u094d\u0928 \u0938\u094d\u091f\u0949\u0915 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0914\u0930 \u0909\u0938\u0915\u093e \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930 \u090f\u0915 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u0915\u0947 \u0932\u093f\u090f \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u0948\u0964", "\u0935\u0948\u0938\u0947 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0908 \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0938\u092c\u0938\u0947 \u0932\u094b\u0915\u092a\u094d\u0930\u093f\u092f \u0926\u094b \u0939\u0948\u0902 \u2013\u2018\u092e\u0947\u091f\u093e\u0938\u094d\u091f\u0949\u0915\u2019 (Metastock) \u0914\u0930 \u2018\u0905\u092e\u0940\u092c\u094d\u0930\u094b\u0915\u0930\u2019 (Amibroker)\u0964 \u0905\u0927\u093f\u0915\u093e\u0902\u0936 \u0924\u0915\u0928\u0940\u0915\u0940 \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0915 \u0907\u0928\u094d\u0939\u0940\u0902 \u0926\u094b \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u0906\u092a\u0915\u094b \u0907\u0928 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0915\u093e \u0932\u093e\u0907\u0938\u0947\u0902\u0938 \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u0935\u0948\u0938\u0947 \u0915\u0941\u091b \u092e\u0941\u092b\u093c\u094d\u0924 \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u091f\u0942\u0932 \u0911\u0928\u0932\u093e\u0907\u0928 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u093e \u0906\u092a \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0964 \u0906\u092a \u0907\u0928\u0915\u094b \u092f\u093e\u0939\u0942 \u092b\u093e\u0907\u0928\u0947\u0902\u0938, \u0917\u0942\u0917\u0932 \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0914\u0930 \u092c\u093f\u091c\u0928\u0947\u0938 \u092e\u0940\u0921\u093f\u092f\u093e \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u0924\u092e\u093e\u092e \u0935\u0947\u092c\u0938\u093e\u0907\u091f\u094b\u0902 \u092a\u0930 \u092a\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u092e\u0947\u0930\u0940 \u0938\u0932\u093e\u0939 \u0939\u0948 \u0915\u093f \u092f\u0926\u093f \u0906\u092a \u090f\u0915 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u092c\u0928\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0932\u0947 \u0932\u0947\u0902\u0964", "\u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0915\u094b \u0906\u092a \u090f\u0915 \u0921\u0940\u0935\u0940\u0921\u0940 \u092a\u094d\u0932\u0947\u092f\u0930 \u0915\u0940 \u0924\u0930\u0939 \u092e\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u0939\u093e\u0901 \u0906\u092a\u0915\u094b \u092b\u093f\u0932\u094d\u092e\u0947\u0902 \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0921\u0940\u0935\u0940\u0921\u0940 \u0915\u093f\u0930\u093e\u090f \u092a\u0930 \u0932\u0947\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u091c\u092c \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u090f\u0915 \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0939\u094b\u0917\u093e, \u0924\u094b \u0906\u092a\u0915\u094b \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0921\u0947\u091f\u093e \u092b\u0940\u0921 \u0932\u0947\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u0921\u0947\u091f\u093e \u092b\u0940\u0921 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0908 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0939\u0948\u0902\u0964\u00a0 \u0906\u092a \u0907\u0928\u0915\u094b \u0907\u0902\u091f\u0930\u0928\u0947\u091f \u092a\u0930 \u092a\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u094b \u0915\u0947\u0935\u0932 \u0921\u0947\u091f\u093e \u0935\u093f\u0915\u094d\u0930\u0947\u0924\u093e \u0915\u094b \u0938\u0942\u091a\u093f\u0924 \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u0915\u094c\u0928 \u0938\u093e \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0939\u0948, \u0914\u0930 \u0935\u0939 \u0906\u092a\u0915\u094b \u0921\u0947\u091f\u093e \u0909\u0938\u0940 \u0930\u0942\u092a \u092e\u0947\u0902 \u092a\u094d\u0930\u0926\u093e\u0928 \u0915\u0930\u0947\u0917\u093e \u091c\u094b \u0906\u092a\u0915\u0947 \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0915\u0947 \u0938\u093e\u0925 \u091a\u0932 \u0938\u0915\u0947\u0964 \u090f\u0915 \u092c\u093e\u0930 \u091c\u092c \u0906\u092a \u090f\u0915 \u0921\u0947\u091f\u093e \u0915\u093e \u0938\u092c\u094d\u0938\u0915\u094d\u0930\u093f\u092a\u094d\u0936\u0928 \u0916\u0930\u0940\u0926 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0935\u0939 \u0906\u092a\u0915\u094b \u092a\u0939\u0932\u0947 \u0938\u092d\u0940 \u0910\u0924\u093f\u0939\u093e\u0938\u093f\u0915 \u0921\u0947\u091f\u093e \u0926\u0947\u0917\u093e, \u091c\u093f\u0938\u0915\u0947 \u092c\u093e\u0926 \u0939\u0930 \u0926\u093f\u0928 \u0906\u092a\u0915\u094b \u0909\u0938\u0915\u0947 \u0938\u0930\u094d\u0935\u0930 \u0938\u0947 \u0921\u0947\u091f\u093e \u0905\u092a\u0921\u0947\u091f \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u092e\u0947\u0930\u0947 \u0905\u0928\u0941\u092d\u0935 \u0938\u0947 \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930 (\u092e\u0947\u091f\u093e\u0938\u094d\u091f\u0949\u0915 \u092f\u093e \u0905\u092e\u0940\u092c\u094d\u0930\u094b\u0915\u0930) \u0915\u093e \u0928\u0935\u0940\u0928\u0924\u092e \u0938\u0902\u0938\u094d\u0915\u0930\u0923 \u0916\u0930\u0940\u0926\u0928\u0947 \u092a\u0930 \u0906\u092a\u0915\u094b 25,000 \u0930\u0941\u092a\u092f\u0947 \u0938\u0947 30,000 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u092c\u0940\u091a \u0915\u093e \u0916\u0930\u094d\u091a \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0921\u0947\u091f\u093e \u092b\u0940\u0921 \u0915\u0947 \u0932\u093f\u090f 15,000 \u0938\u0947 25,000 \u0930\u0941\u092a\u092f\u0947 \u0914\u0930 \u091c\u094b\u0921\u093c\u0947\u0902\u0964 \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930 \u0915\u093e \u0916\u0930\u094d\u091a \u090f\u0915 \u092c\u093e\u0930 \u0939\u094b\u0924\u093e \u0939\u0948, \u091c\u092c\u0915\u093f \u0921\u0947\u091f\u093e \u092b\u0940\u0921 \u0915\u0947 \u0932\u093f\u090f \u0938\u093e\u0932\u093e\u0928\u093e \u092b\u0940\u0938 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0915\u093f \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0915\u0947 \u092a\u0941\u0930\u093e\u0928\u0947 \u0938\u0902\u0938\u094d\u0915\u0930\u0923 \u0906\u092a\u0915\u094b \u092c\u0939\u0941\u0924 \u0915\u092e \u092e\u0947\u0902 \u092e\u093f\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092f\u0926\u093f \u0906\u092a \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u0949\u092b\u093c\u094d\u091f\u0935\u0947\u092f\u0930 \u0914\u0930 \u0921\u0947\u091f\u093e \u0915\u0947 \u0932\u093f\u090f \u0907\u0924\u0928\u093e \u0916\u0930\u094d\u091a \u0915\u0930\u0928\u0947 \u0915\u0947 \u092e\u0942\u0921 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0914\u0930 \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u0948 \u091c\u093c\u0947\u0930\u094b\u0927\u093e \u0915\u093e \u0938\u093e\u092b\u094d\u091f\u0935\u0947\u092f\u0930 \u092a\u093e\u0908 (Pi)\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902, \u091c\u093c\u0947\u0930\u094b\u0927\u093e \u0915\u0947 \u092a\u093e\u0938 \u090f\u0915 \u0905\u092a\u0928\u093e \u0916\u0941\u0926 \u0915\u093e \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0939\u0948, \u091c\u093f\u0938\u0947 Zerodha Pi \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092a\u093e\u0908 \u0906\u092a\u0915\u0940 \u0915\u0908 \u0924\u0930\u0939 \u0938\u0947 \u092e\u0926\u0926 \u0915\u0930\u0924\u093e \u0939\u0948; \u092e\u0948\u0902 \u091f\u0947\u0915\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0907\u0938\u0915\u0940 \u0915\u0941\u091b \u0935\u093f\u0936\u0947\u0937\u0924\u093e\u0913\u0902 \u092a\u0930 \u0906\u092a\u0915\u093e \u0927\u094d\u092f\u093e\u0928 \u0906\u0915\u0930\u094d\u0937\u093f\u0924 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902:", "\u0924\u094b \u0906\u092a\u0928\u0947 \u0926\u0947\u0916\u093e \u0915\u093f \u0915\u093e\u092b\u0940 \u092c\u0921\u093c\u0940 \u0932\u093f\u0938\u094d\u091f \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u093f \u0906\u092a \u091a\u093e\u0930\u094d\u091f\u093f\u0902\u0917 \u092a\u0948\u0915\u0947\u091c \u0914\u0930 \u0921\u0947\u091f\u093e \u092b\u0940\u0921 \u0915\u094b \u0932\u0947\u0928\u0947 \u092a\u0930 \u0915\u094b\u0908 \u092b\u0948\u0938\u0932\u093e \u0932\u0947\u0924\u0947 \u0939\u0948\u0902, \u092e\u0948\u0902 \u0938\u0941\u091d\u093e\u0935 \u0926\u0942\u0902\u0917\u093e \u0915\u093f \u0906\u092a Pi \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0915\u0947 \u0926\u0947\u0916\u0947\u0902\u0964", "", "\u0939\u092e\u0928\u0947 \u0905\u0927\u094d\u092f\u093e\u092f 3 \u092e\u0947\u0902 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u092f\u093e\u0928\u0940 \u0938\u092e\u092f \u0938\u0940\u092e\u093e \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0925\u0940\u0964 \u092e\u0948\u0902 \u0906\u092a\u0938\u0947 \u0905\u0928\u0941\u0930\u094b\u0927 \u0915\u0930\u0942\u0902\u0917\u093e \u0915\u093f \u0906\u092a \u0907\u0938\u0947 \u090f\u0915 \u092c\u093e\u0930 \u0926\u094b\u092c\u093e\u0930\u093e \u092a\u0922\u093c\u0947\u0902 \u0924\u093e\u0915\u093f \u0935\u094b \u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0930\u0939\u0947\u0964", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u0905\u0935\u0938\u0930 \u0924\u0932\u093e\u0936 \u0915\u0930\u0924\u0947 \u0938\u092e\u092f \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0915\u093e \u091a\u092f\u0928 \u0915\u0930\u0928\u093e \u0928\u090f \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947 \u0932\u093f\u090f \u0936\u093e\u092f\u0926 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0940 \u0926\u0941\u0935\u093f\u0927\u093e \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0910\u0938\u0947 \u0915\u0908 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0939\u0948\u0902 \u091c\u093f\u0928\u094d\u0939\u0947\u0902 \u0906\u092a \u091a\u0941\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u2013 1 \u092e\u093f\u0928\u091f, 5 \u092e\u093f\u0928\u091f, 10 \u092e\u093f\u0928\u091f, 15 \u092e\u093f\u0928\u091f, EOD, \u0938\u093e\u092a\u094d\u0924\u093e\u0939\u093f\u0915, \u092e\u093e\u0938\u093f\u0915 \u0914\u0930 \u0935\u093e\u0930\u094d\u0937\u093f\u0915\u0964 \u0907\u0924\u0928\u0947 \u0935\u093f\u0915\u0932\u094d\u092a\u094b\u0902 \u0915\u094b \u0926\u0947\u0916 \u0915\u0930 \u0926\u0941\u0935\u093f\u0927\u093e \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0938\u092e\u092f \u0938\u0940\u092e\u093e \u091c\u093f\u0924\u0928\u0940 \u0905\u0927\u093f\u0915 \u0939\u094b\u0917\u0940, \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0917\u094d\u0928\u0932 \u0909\u0924\u0928\u093e \u0905\u0927\u093f\u0915 \u0935\u093f\u0936\u094d\u0935\u0938\u0928\u0940\u092f \u0939\u094b\u0917\u093e\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u090f\u0915 \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 5 \u092e\u093f\u0928\u091f \u0915\u0940 \u091c\u0917\u0939 15 \u092e\u093f\u0928\u091f \u0915\u0947 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u092a\u0930 \u0915\u0939\u0940\u0902 \u0905\u0927\u093f\u0915 \u0935\u093f\u0936\u094d\u0935\u0938\u0928\u0940\u092f \u0939\u094b\u0917\u093e\u0964 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0947 \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0914\u0930 \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0940 \u0932\u0902\u092c\u093e\u0908\u00a0 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0939\u0940 \u0939\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0938\u092e\u092f \u0938\u0940\u092e\u093e \u0915\u094b \u091a\u0941\u0928\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u0906\u092a \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0940 \u0932\u0902\u092c\u093e\u0908 \u0915\u0948\u0938\u0947 \u0924\u092f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902?", "\u092f\u0926\u093f \u0906\u092a \u0928\u090f \u091f\u094d\u0930\u0947\u0921\u0930 \u0939\u0948\u0902 \u092f\u093e \u092f\u0926\u093f \u0906\u092a \u090f\u0915 \u0905\u0928\u0941\u092d\u0935\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 \u0928\u0939\u0940\u0902 \u0939\u0948\u0902, \u0924\u094b \u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u0926\u093f\u0928 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921 \u092f\u093e\u0928\u0940 \u0921\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0915\u093e \u0938\u0941\u091d\u093e\u0935 \u0926\u0942\u0902\u0917\u093e\u0964 \u0906\u092a \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0947\u0902 \u0924\u094b \u092f\u0947 \u0938\u094b\u091a \u0915\u0930 \u0915\u093f \u0915\u0941\u091b \u0926\u093f\u0928 \u0915\u0947 \u0932\u093f\u090f \u092a\u094b\u091c\u0940\u0936\u0928 \u0939\u094b\u0932\u094d\u0921 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0907\u0938\u0947 \u2018\u092a\u094b\u091c\u0940\u0936\u0928\u0932 \u091f\u094d\u0930\u0947\u0921\u2019 \u092f\u093e \u2018\u0938\u094d\u0935\u093f\u0902\u0917 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917\u2019 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u0938\u094d\u0935\u093f\u0902\u0917 \u091f\u094d\u0930\u0947\u0921\u0930 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0915\u0941\u091b \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0913\u092a\u0928 \u0930\u0916\u0924\u093e \u0939\u0948\u0964 \u0938\u094d\u0935\u093f\u0902\u0917 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u0932\u0941\u0915 \u092c\u0948\u0915 \u092a\u0940\u0930\u093f\u092f\u0921 6 \u092e\u0939\u0940\u0928\u0947 \u0938\u0947 \u090f\u0915 \u0938\u093e\u0932 \u0915\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0926\u0942\u0938\u0930\u0940 \u0913\u0930, \u090f\u0915 \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u0930 \u090f\u0915 \u0905\u0928\u0941\u092d\u0935\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 \u0939\u094b\u0924\u093e \u0939\u0948; \u0906\u092e \u0924\u094c\u0930 \u092a\u0930 \u0935\u0939 1 \u092e\u093f\u0928\u091f \u092f\u093e 5 \u092e\u093f\u0928\u091f \u0915\u0947 \u091f\u093e\u0907\u092e\u092b\u094d\u0930\u0947\u092e \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915 \u092c\u093e\u0930 \u091c\u092c \u0906\u092a \u0915\u0941\u091b \u0926\u093f\u0928\u094b\u0902 \u0935\u093e\u0932\u0947 \u091f\u094d\u0930\u0947\u0921 \u0920\u0940\u0915 \u0938\u0947 \u0915\u0930\u0928\u0947 \u0932\u0917\u0947\u0902 \u0924\u094b\u00a0 \u0906\u092a \u0915\u094b \u2019\u0921\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917\u2019 \u0915\u0940 \u0924\u0930\u092b \u0927\u0940\u0930\u0947 \u0927\u0940\u0930\u0947 \u092c\u0922\u093c \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u0947\u0930\u093e \u092e\u093e\u0928\u0928\u093e \u0939\u0948 \u0915\u093f \u0907\u0938\u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0915\u0941\u091b \u0938\u092e\u092f \u0932\u0917\u0947\u0917\u093e\u0964 \u0906\u092a \u091c\u093f\u0924\u0928\u0947 \u0905\u0928\u0941\u0936\u093e\u0938\u0928 \u092e\u0947\u0902 \u0930\u0939\u0947\u0902\u0917\u0947 \u092f\u0947 \u0938\u092e\u092f \u0909\u0924\u0928\u093e \u0939\u0940 \u0915\u092e \u0939\u094b\u0917\u093e\u0964", "\u0932\u0941\u0915 \u092c\u0948\u0915 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u093e \u0928\u093f\u0930\u094d\u0923\u092f \u0932\u0947\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u0906\u092a \u092a\u093f\u091b\u0932\u0947 \u0915\u093f\u0924\u0928\u0947 \u0938\u092e\u092f \u0915\u0947 \u0915\u0948\u0902\u0921\u0932 \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, 3 \u092e\u0939\u0940\u0928\u0947 \u0915\u0947 \u0932\u0941\u0915 \u092c\u0948\u0915 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a \u0906\u091c \u0915\u0947 \u0915\u093f\u0938\u0940 \u0915\u0948\u0902\u0921\u0932 \u0915\u094b \u0915\u092e \u0938\u0947 \u0915\u092e \u092a\u093f\u091b\u0932\u0947 3 \u092e\u0939\u0940\u0928\u094b\u0902 \u0915\u0947 \u0921\u0947\u091f\u093e \u0915\u0940 \u092a\u0943\u0937\u094d\u0920\u092d\u0942\u092e\u093f \u092e\u0947\u0902 \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0910\u0938\u093e \u0915\u0930\u0915\u0947 \u0906\u092a \u092a\u093f\u091b\u0932\u0947 3 \u092e\u0939\u0940\u0928\u0947 \u0938\u0947 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0906 \u0930\u0939\u0947 \u092b\u0947\u0930\u092c\u0926\u0932 \u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d \u0938\u0915\u0947\u0902\u0917\u0947 \u0914\u0930 \u0906\u091c \u0938\u0939\u0940 \u092b\u0948\u0938\u0932\u093e \u0932\u0947 \u0938\u0915\u0947\u0902\u0917\u0947\u0964", "\u0938\u094d\u0935\u093f\u0902\u0917 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u0932\u093f\u090f \u0938\u0939\u0940 \u0932\u0941\u0915 \u092c\u0948\u0915 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u094d\u092f\u093e \u0939\u0948? \u092e\u0948\u0902 \u0938\u0941\u091d\u093e\u0935 \u0926\u0942\u0902\u0917\u093e \u0915\u093f \u090f\u0915 \u0938\u094d\u0935\u093f\u0902\u0917 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0915\u092e \u0938\u0947 \u0915\u092e 6 \u092e\u0939\u0940\u0928\u0947 \u0938\u0947 \u090f\u0915 \u0938\u093e\u0932 \u0915\u0947 \u0921\u0947\u091f\u093e \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u090f\u0915 \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u0930 \u0915\u0947 \u0932\u093f\u090f \u092a\u093f\u091b\u0932\u0947 5 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0921\u0947\u091f\u093e \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0917\u093e\u0964", "S&R \u0932\u0947\u0935\u0932 \u0928\u093f\u0915\u093e\u0932\u0924\u0947 \u0935\u0915\u094d\u0924 \u0938\u092e\u092f \u0906\u092a\u0915\u094b \u0932\u0941\u0915 \u092c\u0948\u0915 \u092a\u0940\u0930\u093f\u092f\u0921 \u0915\u094b \u0915\u092e \u0938\u0947 \u0915\u092e 2 \u0938\u093e\u0932 \u0924\u0915 \u092c\u0922\u093c\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u092c\u0949\u092e\u094d\u092c\u0947 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c (\u092c\u0940\u090f\u0938\u0908 \u2013 BSE) \u092e\u0947\u0902 \u0932\u0917\u092d\u0917 6000 \u0938\u094d\u091f\u0949\u0915 \u0932\u093f\u0938\u094d\u091f\u0947\u0921 \u0939\u0948\u0902 \u0914\u0930 \u0928\u0947\u0936\u0928\u0932 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c (\u090f\u0928\u090f\u0938\u0908 \u2013 NSE) \u092e\u0947\u0902 \u0932\u0917\u092d\u0917 2000 \u0938\u094d\u091f\u0949\u0915 \u0932\u093f\u0938\u094d\u091f\u0947\u0921 \u0939\u0948\u0902\u0964 \u0915\u094d\u092f\u093e \u0906\u092a \u0939\u0930 \u0926\u093f\u0928 \u0907\u0928 \u0939\u091c\u093e\u0930\u094b\u0902 \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u0938\u0939\u0940 \u0905\u0935\u0938\u0930 \u0924\u0932\u093e\u0936 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902? \u0928\u0939\u0940\u0902 \u0928\u093e! \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0910\u0938\u0947 \u0938\u094d\u091f\u0949\u0915 \u091a\u0941\u0928\u0928\u0947 \u0939\u094b\u0902\u0917\u0947 \u091c\u093f\u0928\u092e\u0947\u0902 \u0906\u092a \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0938\u0915\u0947\u0902\u0964 \u0938\u094d\u091f\u0949\u0915 \u0915\u093e \u092f\u0939 \u0938\u092e\u0942\u0939 \u0939\u0940 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0935\u0939 \u0926\u0941\u0928\u093f\u092f\u093e \u092f\u093e \u092f\u0942\u0928\u093f\u0935\u0930\u094d\u0938 \u0939\u094b\u0917\u093e \u091c\u093f\u0938\u092e\u0947\u0902 \u0938\u0947 \u0906\u092a \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u0939\u0930 \u0926\u093f\u0928 \u0905\u0935\u0938\u0930 \u0924\u0932\u093e\u0936 \u0938\u0915\u0947\u0902\u0917\u0947\u0964", "\u0932\u0947\u0915\u093f\u0928 \u092f\u0939 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u0906\u092a \u091a\u0941\u0928\u0947\u0902\u0917\u0947 \u0915\u0948\u0938\u0947? \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0915\u0941\u091b \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u092c\u0924\u093e\u0924\u0947 \u0939\u0948\u0902:", "\u0905\u0917\u0930 \u0910\u0938\u0947 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u091a\u0941\u0928\u0928\u0947 \u092e\u0947\u0902 \u0926\u093f\u0915\u094d\u0915\u0924 \u0939\u094b \u0930\u0939\u0940 \u0939\u0948 \u091c\u094b \u090a\u092a\u0930 \u0926\u0940 \u0917\u0908 \u0936\u0930\u094d\u0924\u094b\u0902 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0924\u0947 \u0939\u094b, \u0924\u094b \u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u0938\u0932\u093e\u0939 \u0926\u0942\u0902\u0917\u093e \u0915\u093f \u0906\u092a \u0928\u093f\u092b\u094d\u091f\u0940 50 \u092f\u093e \u0938\u0947\u0902\u0938\u0947\u0915\u094d\u0938 30 \u0915\u0947 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0939\u0940 \u092c\u0928\u0947 \u0930\u0939\u0947\u0902\u0964 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u0915\u0947 \u0928\u093e\u092e \u0938\u0947 \u091c\u093e\u0928\u0947 \u0935\u093e\u0932\u0947 \u092f\u0947 \u0938\u094d\u091f\u0949\u0915 \u0916\u0941\u0926 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0926\u094d\u0935\u093e\u0930\u093e \u091a\u0941\u0928\u0947 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0928\u0915\u0947 \u091a\u0941\u0928\u0947 \u091c\u093e\u0928\u0947 \u0915\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u093e\u092b\u0940 \u0905\u091a\u094d\u091b\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0938\u093e\u0925 \u0939\u0940, \u0907\u0928\u092e\u0947\u0902 \u090a\u092a\u0930 \u0926\u0940 \u0917\u092f\u0940 \u0936\u0930\u094d\u0924\u094b\u0902 \u0915\u093e \u092d\u0940 \u092a\u093e\u0932\u0928 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0938\u094d\u0935\u093f\u0902\u0917 \u091f\u094d\u0930\u0947\u0921\u0930 \u0914\u0930 \u0938\u094d\u0915\u0948\u0932\u092a\u0930 \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u0928\u093f\u092b\u093c\u094d\u091f\u0940 50 \u0915\u0947 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u092e\u0947\u0902 \u0939\u0940 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u093e \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0906\u0908\u0921\u093f\u092f\u093e \u0939\u0948\u0964", "\u0906\u0907\u090f \u0905\u092c \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0909\u0928 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u0915\u093e \u091a\u0941\u0928\u093e\u0935 \u0915\u0948\u0938\u0947 \u0915\u093f\u092f\u093e \u091c\u093e\u090f \u091c\u093f\u0928\u092e\u0947\u0902 \u0939\u092e \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964\u00a0 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0939\u092e \u090f\u0915 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u092c\u0928\u093e\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0938\u0915\u094b \u0926\u0947\u0916 \u0915\u0930 \u0906\u092a \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u0938\u0939\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0947 \u092e\u094c\u0915\u0947 \u091a\u0941\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0916\u093e\u0938\u0915\u0930 \u0938\u094d\u0935\u093f\u0902\u0917 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u093e \u0924\u0930\u0940\u0915\u093e \u0939\u094b\u0917\u093e \u0964", "\u0905\u092d\u0940 \u0924\u0915 \u0939\u092e\u0928\u0947 \u091a\u093e\u0930 \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u093e \u0939\u0948:", "\u0907\u0928 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u093e \u092c\u0939\u0941\u0924 \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0905\u092c \u092e\u0948\u0902 \u092c\u0924\u093e\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u092e\u0948\u0902 \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u092e\u094c\u0915\u0947 \u0915\u0948\u0938\u0947 \u0924\u0932\u093e\u0936\u0924\u093e \u0939\u0942\u0902\u0964 \u0907\u0938\u0947 \u092e\u0948\u0928\u0947\u0902 \u0926\u094b \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u092e\u0947\u0902 \u092c\u093e\u0901\u091f\u093e \u0939\u0948\u0964", "\u092d\u093e\u0917 1 \u2013 \u092e\u094c\u0915\u0947 \u0915\u093e \u091a\u0941\u0928\u093e\u0935 (The shortlisting process)", "\u092d\u093e\u0917 2 \u2013\u00a0\u092e\u094c\u0915\u0947 \u0915\u094b \u092a\u0930\u0916\u0928\u093e (The Evaluation process)", "\u092f\u0947 \u0938\u092c \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092e\u0941\u091d\u0947 4 \u0938\u0947 5 \u0936\u0947\u092f\u0930 \u092e\u093f\u0932 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u0915\u093f \u092e\u0947\u0930\u0947 50 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0947 \u0905\u092a\u0949\u0930\u094d\u091a\u094d\u092f\u0942\u0928\u093f\u091f\u0940 \u092f\u0942\u0928\u093f\u0935\u0930\u094d\u0938 \u0915\u093e \u0939\u0940 \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u092c \u092e\u0948\u0902 \u0907\u0928 4-5 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0917\u0939\u0930\u093e\u0908 \u0938\u0947 \u091c\u093e\u0901\u091a\u0924\u093e \u0939\u0942\u0902\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0939\u0930 \u0938\u094d\u091f\u0949\u0915 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u092e\u0948\u0902 15 \u0938\u0947 20 \u092e\u093f\u0928\u091f \u0915\u093e \u0938\u092e\u092f \u0932\u0917\u093e\u0924\u093e \u0939\u0942\u0902 \u0914\u0930 \u0926\u0947\u0916\u0924\u093e \u0939\u0942\u0902 \u0915\u093f:", "\u0906\u092e\u0924\u094c\u0930 \u092a\u0930 4-5 \u0936\u0949\u0930\u094d\u091f\u0932\u093f\u0938\u094d\u091f \u0915\u093f\u090f \u0917\u090f \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0938\u0947 1 \u092f\u093e 2 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093e\u092f\u0915 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u092d\u0940-\u0915\u092d\u0940 \u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u090f\u0915 \u092d\u0940 \u0905\u0935\u0938\u0930 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0902\u0964 \u091f\u094d\u0930\u0947\u0921 \u0928\u093e \u0915\u0930\u0928\u0947 \u0915\u093e \u092f\u0947 \u092b\u0948\u0938\u0932\u093e \u092d\u0940 \u0905\u092a\u0928\u0947 \u0906\u092a \u092e\u0947\u0902 \u090f\u0915 \u092c\u0921\u093c\u093e \u0928\u093f\u0930\u094d\u0923\u092f \u0939\u0948\u0964 \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u092f\u0939 \u090f\u0915 \u0915\u093e\u092b\u0940 \u0915\u0921\u093c\u0940 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0939\u0948, \u0905\u0917\u0930 \u0915\u094b\u0908 \u0938\u094d\u091f\u0949\u0915 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0924\u093e \u0939\u0948, \u0924\u094b \u0909\u0938 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u092e\u0947\u0930\u093e \u0935\u093f\u0936\u094d\u0935\u093e\u0938 \u092c\u0939\u0941\u0924 \u0905\u0927\u093f\u0915 \u092c\u0922\u093c \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915 \u092c\u093e\u0924 \u091c\u094b \u092e\u0948\u0902\u0928\u0947 \u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0915\u0908 \u092c\u093e\u0930 \u0915\u0939\u0940 \u0939\u0948, \u0909\u0938\u0915\u094b \u092f\u0939\u093e\u0901 \u092b\u093f\u0930 \u0926\u094b\u0939\u0930\u093e\u0924\u093e \u0939\u0942\u0902 \u2013 \u090f\u0915 \u092c\u093e\u0930 \u091c\u092c \u0906\u092a \u0915\u094b\u0908 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0924\u092c \u0924\u0915 \u0915\u0941\u091b \u092d\u0940 \u0928 \u0915\u0930\u0947\u0902 \u091c\u092c \u0924\u0915 \u0915\u093f \u0906\u092a\u0915\u093e \u091f\u093e\u0930\u0917\u0947\u091f \u0939\u093e\u0938\u093f\u0932 \u0928 \u0939\u094b \u091c\u093e\u090f \u092f\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0936\u0941\u0930\u0942 \u0928 \u0939\u094b \u091c\u093e\u090f\u0964 \u0939\u093e\u0901, \u0906\u092a \u0905\u092a\u0928\u0947 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u094b \u091f\u094d\u0930\u0947\u0932 \u091c\u0930\u0942\u0930 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0906\u092a\u0915\u093e \u091f\u094d\u0930\u0947\u0921 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u093e \u092a\u093e\u0932\u0928 \u0915\u0930\u0924\u093e \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u0947 \u0938\u092b\u0932 \u0939\u094b\u0928\u0947 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0905\u0927\u093f\u0915 \u0939\u0948\u0964", "", "\u090f\u0915 \u0905\u0928\u0941\u092d\u0935\u0940 \u0938\u094d\u0935\u093f\u0902\u0917 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0926\u0942\u0938\u0930\u093e \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u0948 \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u093f\u0902\u0917\u0964 \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u093f\u0902\u0917 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u093e \u091f\u094d\u0930\u0947\u0921\u0930 \u092c\u0921\u093c\u093e \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0938\u093f\u0930\u094d\u092b \u0915\u0941\u091b \u092e\u093f\u0928\u091f\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f\u0964 \u0915\u0941\u091b \u092e\u093f\u0928\u091f \u092c\u093e\u0926 \u0939\u0940 \u0935\u094b \u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u0938\u0947 \u0928\u093f\u0915\u0932 \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "", "\u0936\u0941\u0932\u094d\u0915 \u0915\u0947 \u092c\u093e\u0926 \u0915\u0941\u0932 \u092e\u0941\u0928\u093e\u092b\u093e = 2644 \u0930\u0941\u092a\u092f\u0947", "\u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902, \u0915\u0941\u0932 \u092e\u0941\u0928\u093e\u092b\u0947 \u0915\u0940 \u092f\u0947 \u0917\u0923\u0928\u093e \u092f\u0939 \u092e\u093e\u0928 \u0915\u0930 \u0915\u0940 \u0917\u092f\u0940 \u0939\u0948 \u0915\u093f \u0906\u092a \u091c\u093c\u0947\u0930\u094b\u0927\u093e Pi \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0905\u0917\u0930 \u0906\u092a \u090f\u0915 \u092e\u0939\u0902\u0917\u0940 \u092c\u094d\u0930\u094b\u0915\u0930\u0947\u091c \u0926\u0930 \u092a\u0930 \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u093f\u0902\u0917 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0924\u094b \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u093f\u0902\u0917 \u092e\u0947\u0902\u00a0 \u092e\u0941\u0928\u093e\u092b\u0947 \u0915\u0947 \u0932\u093f\u090f \u091f\u094d\u0930\u093e\u0902\u091c\u0948\u0915\u094d\u0936\u0928 \u091a\u093e\u0930\u094d\u091c \u0915\u092e \u0939\u094b\u0928\u093e \u092c\u0947\u0939\u0926 \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964", "\u0938\u094d\u0915\u0948\u0932\u094d\u092a\u0930 \u090f\u0915 \u0910\u0938\u093e \u091f\u094d\u0930\u0947\u0921\u0930 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0915\u093e \u0938\u093e\u0930\u093e \u092b\u094b\u0915\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0935\u094b 1 \u092e\u093f\u0928\u091f \u0914\u0930 5 \u092e\u093f\u0928\u091f \u0915\u0947 \u091f\u093e\u0907\u092e \u092b\u094d\u0930\u0947\u092e \u0935\u093e\u0932\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0905\u092a\u0928\u0947\u00a0 \u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0932\u0947\u0924\u093e \u0939\u0948\u0964 \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u0930 \u0926\u093f\u0928 \u092e\u0947\u0902 \u0915\u0908 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0909\u0938\u0915\u0940 \u0932\u0915\u094d\u0937\u094d\u092f \u0938\u093e\u092b \u0939\u094b\u0924\u093e \u0939\u0948 \u2013 \u0926\u093f\u0928 \u092e\u0947\u0902 \u0915\u0908 \u091b\u094b\u091f\u0947-\u091b\u094b\u091f\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u094b \u0914\u0930 \u0915\u0941\u091b \u092e\u093f\u0928\u091f \u0924\u0915 \u0939\u0940 \u0909\u0928\u0915\u094b \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u094b\u0964 \u0909\u0938\u0915\u094b \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u091b\u094b\u091f\u0947 \u0938\u0947 \u092e\u0942\u0935 \u0938\u0947 \u092d\u0940 \u092b\u093e\u092f\u0926\u093e \u092e\u093f\u0932 \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0935\u094b \u0907\u0938\u0940 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0906\u092a\u0915\u094b \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u0930 \u092c\u0928\u0928\u093e \u0939\u0948 \u0924\u094b \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u091b \u0926\u093f\u0936\u093e-\u0928\u093f\u0930\u094d\u0926\u0947\u0936 \u0926\u0947 \u0930\u0939\u093e \u0939\u0942\u0902-", "\u090f\u0915 \u0921\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0924\u0915\u0928\u0940\u0915 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u093f\u0902\u0917 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0947\u091c \u092b\u0948\u0938\u0932\u0947 \u0914\u0930 \u092e\u0936\u0940\u0928 \u091c\u0948\u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0928\u0947 \u0915\u0940 \u0906\u0926\u0924 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u090f\u0915 \u0938\u092b\u0932 \u0938\u094d\u0915\u0948\u0932\u094d\u092a\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0909\u0920\u093e\u092a\u091f\u0915 \u0938\u0947 \u0918\u092c\u0930\u093e\u0924\u093e \u0928\u0939\u0940\u0902 \u0939\u0948 \u092c\u0932\u094d\u0915\u093f \u0909\u0938\u0915\u094b \u092a\u0938\u0902\u0926 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u092e\u0948\u0902 \u0905\u092a\u0949\u0930\u094d\u091a\u094d\u092f\u0942\u0928\u093f\u091f\u0940 \u092f\u0942\u0928\u093f\u0935\u0930\u094d\u0938 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u0924\u093e \u0939\u0942\u0902\nSirji iska matlab?", "Hi \u0930\u093e\u0939\u0941\u0932, \u0905\u092a\u0949\u0930\u094d\u091a\u094d\u092f\u0942\u0928\u093f\u091f\u0940 \u092f\u0942\u0928\u093f\u0935\u0930\u094d\u0938 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0935\u0939 \u0936\u0947\u092f\u0930 \u091c\u093f\u0928\u092e\u0947 \u092e\u094c\u0915\u093e \u092e\u093f\u0932\u0928\u0947 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e \u0924\u0948\u092f\u093e\u0930 \u0930\u0939\u0947\u0902\u0917\u0947\u0964 \u0938\u093e\u0930\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u0928\u093e \u092e\u0941\u092e\u0915\u093f\u0928 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0907\u0938 \u0932\u093f\u090f \u0906\u092a \u0915\u0941\u091b \u0936\u0947\u092f\u0930 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940, \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0914\u0930 \u0938\u0947\u0917\u092e\u0947\u0902\u091f \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0939\u092e \u091b\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092f\u0926\u093f \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0938\u0947 S&R \u0938\u094d\u0924\u0930 4% \u0938\u0947 \u0905\u0927\u093f\u0915 \u0926\u0942\u0930 \u0939\u0948, \u0924\u094b \u092e\u0948\u0902 \u091a\u093e\u0930\u094d\u091f \u0915\u093e \u0906\u0917\u0947 \u092e\u0942\u0932\u094d\u092f\u093e\u0902\u0915\u0928 \u0915\u0930\u0928\u093e \u092c\u0902\u0926 \u0915\u0930 \u0926\u0947\u0924\u093e \u0939\u0942\u0902 \u0914\u0930 \u0905\u0917\u0932\u0947 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u091a\u0932\u093e \u091c\u093e\u0924\u093e \u0939\u0942\u0902\u0964\nSir example dete samjaye?", "I want to know which globel market effected indian stock market most and how.", "Unbelievable study material in Hindi .Good work done by Team zerodha .", "Thank you and happy learning \ud83d\ude42", "new in this stock market and not know any thing about trading ..can anyone help me to learn .", "Please read our Modules from the beginning, we also have a mobile application and at the end of each module there is a certification test and quiz, you can download the app.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/11/M2-Ch19-illustration1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/11/M2-Ch19-illustration6.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/11/M2-Ch19-illustration3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/11/M2-Ch19-illustration4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/11/M2-Ch19-illustration5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/11/M2-Ch19-illustration21.jpg", "https://secure.gravatar.com/avatar/db1b428575621caa01cbaa4af95ef35a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2598e56174de661b27edf18ee33496a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/47a943aedb050f7221b919ddd8fad1f8?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4538490fcaa7fe2db6ffa79fba6b6437?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/075aae9b39cdf68e47389e54dcf9b570?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table class=\"tableizer-table\">\n<thead>\n<tr class=\"tableizer-firstrow\">\n<th>\u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u092a\u0939\u0932\u093e \u0939\u093f\u0938\u094d\u0938\u093e</th>\n<th>\u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u0926\u0942\u0938\u0930\u093e \u0939\u093f\u0938\u094d\u0938\u093e</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>\u0938\u092e\u092f- 10:15 \u092c\u091c\u0947</td>\n<td>\u0938\u092e\u092f- 10:25 \u092c\u091c\u0947</td>\n</tr>\n<tr>\n<td>\u0936\u0947\u092f\u0930-\u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938</td>\n<td>\u0936\u0947\u092f\u0930-\u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938</td>\n</tr>\n<tr>\n<td>\u0915\u0940\u092e\u0924- 3980</td>\n<td>\u0915\u0940\u092e\u0924- 3976</td>\n</tr>\n<tr>\n<td>\u092c\u0947\u091a\u093e</td>\n<td>\u0916\u0930\u0940\u0926\u093e</td>\n</tr>\n<tr>\n<td>\u092e\u093e\u0924\u094d\u0930\u093e- 1000\u0936\u0947\u092f\u0930</td>\n<td>\u092e\u093e\u0924\u094d\u0930\u093e- 1000 \u0936\u0947\u092f\u0930</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "4. P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0915\u0948\u0938\u0947 \u0938\u092e\u091d\u0947\u0902? (\u092d\u093e\u0917 1)", "text": ["\u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0906\u092a \u0926\u094b \u0928\u091c\u093c\u0930\u093f\u092f\u0947 \u0938\u0947 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092c\u0928\u093e\u0928\u0947 \u0935\u093e\u0932\u093e \u0907\u0902\u0938\u093e\u0928 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0905\u0915\u093e\u0909\u0902\u091f\u093f\u0902\u0917 \u0915\u0947 \u092c\u0948\u0915\u0917\u094d\u0930\u093e\u0909\u0902\u0921 \u0938\u0947 \u0906\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u091c\u0930 \u0907\u0902\u091f\u094d\u0930\u0940 (Ledger Entry)\u00a0 \u092f\u093e\u0928\u0940 \u0916\u093e\u0924\u093e \u092a\u094d\u0930\u0935\u093f\u0937\u094d\u091f\u0940 , \u092c\u093f\u0932 \u0914\u0930 \u0930\u0938\u0940\u0926 \u0915\u094b \u092e\u093f\u0932\u093e\u0928\u093e, \u092a\u0948\u0938\u094b\u0902 \u0915\u0947 \u0906\u0917\u092e\u0928 \u0914\u0930 \u0906\u0935\u093e\u0917\u092e\u0928 \u092f\u093e\u0928\u0940 \u0907\u0902\u092b\u094d\u0932\u094b \u0914\u0930 \u0906\u0909\u091f\u092b\u094d\u0932\u094b (Inflow-Outflow) \u0915\u093e \u092e\u093f\u0932\u093e\u0928 \u0915\u0930\u0928\u093e, \u092f\u0947 \u0938\u092c \u0909\u0938\u0915\u0947 \u0930\u094b\u091c \u0915\u0947 \u0915\u093e\u092e \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0938\u0915\u093e \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u090f\u0915 \u0910\u0938\u093e \u092a\u093e\u0930\u0926\u0930\u094d\u0936\u0940 \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092c\u0928\u093e\u090f\u0902, \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0939\u093e\u0932\u0924 \u0915\u094b \u0938\u0939\u0940-\u0938\u0939\u0940 \u0926\u093f\u0916\u093e \u0938\u0915\u0947\u0964 \u0910\u0938\u093e \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u091c\u094b \u0915\u094c\u0936\u0932 \u091a\u093e\u0939\u093f\u090f \u0935\u094b \u0909\u0938\u0947 \u091a\u093e\u0930\u094d\u091f\u0947\u091f \u0905\u0915\u093e\u0909\u0902\u091f\u0947\u0902\u091f \u0915\u0940 \u091f\u094d\u0930\u0947\u0928\u093f\u0902\u0917 \u0915\u0947 \u0926\u094c\u0930\u093e\u0928 \u092e\u093f\u0932 \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0926\u0942\u0938\u0930\u0940 \u0924\u0930\u092b, \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u093e \u0907\u0902\u0938\u093e\u0928 \u0938\u093f\u0930\u094d\u092b \u0909\u0938 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948\u0964 \u0909\u0938\u0947 \u0938\u093f\u0930\u094d\u092b \u0907\u0938\u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0928\u093e \u0939\u0948\u0964 \u0909\u0938\u0915\u094b \u091c\u0930\u094d\u0928\u0932 \u090f\u0902\u091f\u094d\u0930\u0940 (Journal entry) \u092f\u093e \u0911\u0921\u093f\u091f (Audit) \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u0930 \u091b\u094b\u091f\u0940-\u091b\u094b\u091f\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u094b \u091c\u093e\u0928\u0928\u093e \u0914\u0930 \u0938\u092e\u091d\u0928\u093e \u091c\u093c\u0930\u0942\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0909\u0938\u0947 \u0938\u093f\u0930\u094d\u092b \u092e\u0924\u0932\u092c \u0939\u0948 \u0924\u094b \u0907\u0938 \u092c\u093e\u0924 \u0938\u0947 \u0915\u093f \u0935\u094b \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u092a\u0922\u093c\u0915\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u092a\u0928\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930 \u0938\u0915\u0947\u0964", "\u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0932\u094b\u0917\u094b\u0902 \u0915\u094b \u092f\u0947 \u0917\u0932\u0924\u092b\u0939\u092e\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u093f \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u0915\u094b \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u0947 \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0924\u094c\u0930-\u0924\u0930\u0940\u0915\u0947 \u0915\u0940 \u0905\u091a\u094d\u091b\u0940 \u0938\u092e\u091d \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u092f\u0947 \u0938\u092e\u091d \u0939\u094b\u0928\u093e \u0905\u091a\u094d\u091b\u0940 \u092c\u093e\u0924 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u092f\u0947 \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u094b- \u0910\u0938\u093e \u090f\u0915\u0926\u092e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u090f\u0915 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u092c\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0938\u093f\u0930\u094d\u092b \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0906\u0928\u093e \u091a\u093e\u0939\u093f\u090f, \u0909\u0938\u0915\u094b \u092c\u0928\u093e\u0928\u093e \u0906\u0928\u093e \u091c\u093c\u0930\u0942\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0924\u0940\u0928 \u0916\u093e\u0938 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u0926\u0947\u0924\u0940 \u0939\u0948:", "\u0905\u0917\u0932\u0947 \u0915\u0941\u091b \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u092e\u0947\u0902 \u0939\u092e \u0907\u0928 \u0924\u0940\u0928\u094b\u0902 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0928\u093e \u0938\u0940\u0916\u0947\u0902\u0917\u0947\u0964", "\u092a\u094d\u0930\u0949\u092b\u093f\u091f \u090f\u0902\u0921 \u0932\u0949\u0938 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092f\u093e P&L statement \u0915\u094b \u0907\u0928\u0915\u092e \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f (Income Statement), \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0911\u092b \u0911\u092a\u0930\u0947\u0936\u0902\u0938 (Statement of Operations) \u092f\u093e \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0911\u092b \u0905\u0930\u094d\u0928\u093f\u0902\u0917\u094d\u0938 (Statement of Earnings) \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u090f\u0902\u0921 \u0932\u0949\u0938 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u090f\u0915 \u0916\u093e\u0938 \u0905\u0935\u0927\u093f \u092e\u0947\u0902 \u0939\u0941\u090f \u0932\u0947\u0928-\u0926\u0947\u0928 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0928\u092e\u0947\u0902 \u0928\u093f\u092e\u094d\u0928 \u091a\u0940\u091c\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948-", "\u092e\u0947\u0930\u093e \u0905\u0928\u0941\u092d\u0935 \u0915\u0939\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u093e \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u0924\u0930\u0940\u0915\u093e \u0935\u093e\u0938\u094d\u0924\u0935\u093f\u0915 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u0914\u0930 \u0909\u0938\u092e\u0947\u0902 \u0926\u0940 \u0917\u0908 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u0939\u0940 \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u0905\u092e\u093e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940\u091c \u0932\u093f\u092e\u093f\u091f\u0947\u0921 (ARBL) \u0915\u093e P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u0939\u0930 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0915\u094b \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0906\u092a\u0928\u0947 \u092c\u0939\u0941\u0924 \u092c\u093e\u0930 \u091c\u093e\u0928\u0915\u093e\u0930\u094b\u0902 \u0915\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u091f\u0949\u092a \u0932\u093e\u0907\u0928 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0930\u0924\u0947 \u0938\u0941\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0935\u094b P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u0947 \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 \u092f\u093e\u0928\u0940 \u0906\u092f \u0915\u0940 \u092c\u093e\u0924 \u0915\u0930 \u0930\u0939\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 P&L \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0947 \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 \u092f\u093e \u0906\u092f \u0915\u093e \u0928\u0902\u092c\u0930 \u0939\u0940 \u092c\u0924\u093e\u0924\u0940 \u0939\u0948\u0964", "", "\u0939\u092e \u0907\u0938\u0915\u094b \u0938\u092e\u091d\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930\u0947\u0902 \u0907\u0938\u0915\u0947 \u092a\u0939\u0932\u0947 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u0947 \u0939\u0947\u0921\u0930 \u092e\u0947\u0902 \u0932\u093f\u0916\u0940 \u0917\u0908 \u0915\u0941\u091b \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u091c\u093e\u0928 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0939\u0947\u0921\u0930 \u0938\u093e\u092b-\u0938\u093e\u092b \u092c\u0924\u093e \u0930\u0939\u093e \u0939\u0948 \u0915\u093f..", "\u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 \u0915\u0940 \u0924\u0930\u092b \u092e\u0947\u0902 \u092a\u0939\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u2013 \u0938\u0947\u0932 \u0911\u092b \u092a\u094d\u0930\u094b\u0921\u0915\u094d\u091f\u094d\u0938 (Sale of products) \u092f\u093e\u0928\u0940 \u092e\u093e\u0932 \u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u091a\u0942\u0902\u0915\u093f \u092f\u0939\u093e\u0902 \u092a\u0930 \u0939\u092e \u090f\u0915 \u092c\u0948\u091f\u0930\u0940 \u092c\u0928\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0902\u092a\u0928\u0940 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0907\u0938\u0932\u093f\u090f \u092f\u0939\u093e\u0902 \u092a\u0930 \u0938\u0947\u0932 \u0911\u092b \u092a\u094d\u0930\u094b\u0921\u0915\u094d\u091f \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 FY14 \u092e\u0947\u0902 \u0915\u0941\u0932 \u0915\u093f\u0924\u0928\u0940 \u092c\u0948\u091f\u0930\u093f\u092f\u093e\u0902 \u092c\u0947\u091a\u0940\u0964 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u093e \u0915\u0941\u0932 \u0906\u0902\u0915\u0921\u093c\u093e \u0939\u0948- 3804,12,70,000 \u0930\u0941\u092a\u092f\u0947, \u092f\u093e\u0928\u0940 3804 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947\u0964 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u092a\u093f\u091b\u0932\u0947 \u0938\u093e\u0932 \u092f\u093e\u0928\u0940 FY13 \u092e\u0947\u0902 3294 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u0940 \u092c\u0948\u091f\u0930\u093f\u092f\u093e\u0902 \u092c\u0947\u091a\u0940 \u0925\u0940\u0964", "\u092e\u0948\u0902 \u091c\u093e\u0928\u092c\u0942\u091d \u0915\u0930 \u092f\u0939\u093e\u0902 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u092e\u0947\u0902 \u0906\u0902\u0915\u0921\u093c\u0947\u0902 \u0926\u0947 \u0930\u0939\u093e \u0939\u0942\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0947 \u0938\u092e\u091d\u0928\u0947 \u092e\u0947\u0902 \u091c\u094d\u092f\u093e\u0926\u093e \u0906\u0938\u093e\u0928 \u0939\u094b\u0917\u093e\u0964", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u090f\u0915\u094d\u0938\u093e\u0907\u091c \u0921\u094d\u092f\u0942\u091f\u0940\u0964 \u0915\u0902\u092a\u0928\u0940 \u092f\u0947 400 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0938\u0930\u0915\u093e\u0930 \u0915\u094b \u0905\u0926\u093e \u0915\u0930\u0947\u0917\u0940\u0964 \u0907\u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0906\u092e\u0926\u0928\u0940 \u092e\u0947\u0902 \u0938\u0947 \u0928\u093f\u0915\u093e\u0932\u093e \u091c\u093e\u090f\u0917\u093e\u0964", "\u090f\u0915\u094d\u0938\u093e\u0907\u091c \u0921\u094d\u092f\u0942\u091f\u0940 \u0915\u094b \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092e\u093f\u0932\u093e \u0906\u0902\u0915\u0921\u093c\u0947 \u0915\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0928\u0947\u091f \u0938\u0947\u0932\u094d\u0938 (Net Sales of the company) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 ARBL \u0915\u093e FY14 \u092e\u0947\u0902 \u0928\u0947\u091f \u0938\u0947\u0932\u094d\u0938 3403 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0939\u0948 \u091c\u092c\u0915\u093f FY13 \u092e\u0947\u0902 \u092f\u0947 \u0906\u0902\u0915\u0921\u093c\u093e 2943 \u0915\u0930\u094b\u0921\u093c \u0925\u093e\u0964", "\u0938\u0947\u0932 \u0911\u092b \u092a\u094d\u0930\u094b\u0921\u0915\u094d\u091f \u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0915\u092a\u0902\u0928\u0940 \u0938\u0947\u0935\u093e\u0913\u0902 \u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u092f\u093e\u0928\u0940 \u0938\u0930\u094d\u0935\u093f\u0938\u0947\u091c \u0938\u0947 \u092d\u0940 \u0906\u092e\u0926\u0928\u0940 \u091c\u0941\u091f\u093e\u0924\u0940 \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092c\u0948\u091f\u0930\u0940 \u0915\u0947 \u0935\u093e\u0930\u094d\u0937\u093f\u0915 \u092e\u0947\u0902\u091f\u0947\u0928\u0947\u0928\u094d\u0938 \u092f\u093e\u0928\u0940 \u0930\u0916\u0930\u0916\u093e\u0935 \u0938\u0947 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0938\u0930\u094d\u0935\u093f\u0938\u0947\u091c \u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b FY14\u00a0 \u092e\u0947\u0902 30.9 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u0940 \u0906\u092e\u0926\u0928\u0940 \u0939\u0941\u0908\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0905\u0926\u0930 \u0911\u092a\u0930\u0947\u091f\u093f\u0902\u0917 \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 (Other Operating Revenue) \u092f\u093e\u0928\u0940 \u0905\u0928\u094d\u092f \u0915\u093e\u092e\u0915\u093e\u091c\u0940 \u0906\u092f \u0938\u0947 \u092d\u0940 2.1 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u092e\u093e\u090f \u0939\u0948\u0964 \u092f\u0947 \u0906\u092e\u0926\u0928\u0940 \u0915\u0941\u091b \u0910\u0938\u0940 \u0935\u0938\u094d\u0924\u0941\u0913\u0902 \u0914\u0930 \u0938\u0947\u0935\u093e\u0913\u0902 \u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0938\u0947 \u0939\u0941\u0908 \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092e\u0941\u0916\u094d\u092f \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0939\u0948\u0902\u0964", "\u0905\u0902\u0924 \u092e\u0947\u0902 \u0938\u0947\u0932 \u0911\u092b \u092a\u094d\u0930\u094b\u0921\u0915\u094d\u091f+ \u0938\u0947\u0932 \u0911\u092b \u0938\u0930\u094d\u0935\u093f\u0938+ \u0905\u0926\u0930 \u0911\u092a\u0930\u0947\u091f\u093f\u0902\u0917 \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u091f\u094b\u091f\u0932 \u0911\u092a\u0930\u0947\u091f\u093f\u0902\u0917 \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 (Total Operating Revenue) \u092f\u093e\u0928\u0940 \u0915\u0941\u0932 \u0906\u092f \u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u092f\u0939 FY14 \u092e\u0947\u0902 3436 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0939\u0948 \u091c\u092c\u0915\u093f FY13 \u092e\u0947\u0902 \u092f\u0947 \u0906\u0902\u0915\u0921\u093c\u093e 2959 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0925\u093e\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u090f\u0915 \u0928\u094b\u091f \u092d\u0940 \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u091c\u094b \u0915\u093f \u0928\u0902\u092c\u0930 17 \u0939\u0948\u0964 \u092f\u0947 \u0928\u0947\u091f \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 \u092b\u094d\u0930\u0949\u092e \u0911\u092a\u0930\u0947\u0936\u0902\u0938 (Net Revenue from operations) \u092f\u093e\u0928\u0940 \u0911\u092a\u0930\u0947\u0936\u0928 \u0938\u0947 \u091c\u094b \u0936\u0941\u0926\u094d\u0927 \u0906\u092f \u0939\u0941\u0908 \u0939\u0948, \u0909\u0938\u0938\u0947 \u091c\u0941\u0921\u093c\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u0907\u0938\u0947 \u0939\u092e \u092c\u093e\u0926 \u092e\u0947\u0902 \u0920\u0940\u0915 \u0938\u0947 \u0926\u0947\u0916\u0947\u0902\u0917\u0947\u0964", "\u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0939\u094b\u0917\u093e \u0915\u093f \u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u0928\u094b\u091f\u094d\u0938 \u0914\u0930 \u0936\u0947\u0921\u094d\u092f\u0942\u0932 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0940 \u0925\u0940\u0964", "\u0928\u0940\u091a\u0947 \u0915\u093e \u091a\u093f\u0924\u094d\u0930 \u0907\u0938 \u0928\u094b\u091f 17 \u0915\u093e \u0935\u093f\u0935\u0930\u0923 \u0926\u093f\u0916\u093e \u0930\u0939\u093e \u0939\u0948\u0964", "\u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u0907\u0938 \u0928\u094b\u091f \u092e\u0947\u0902\u00a0 \u0911\u092a\u0930\u0947\u0936\u0902\u0938 \u0938\u0947 \u0939\u0941\u0908 \u0906\u092f (Revenues from operations) \u0915\u0940 \u0935\u093f\u0938\u094d\u0924\u0943\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0940 \u0917\u0908 \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0939\u092e\u0947\u0902 \u0907\u0938\u0915\u0947 \u0905\u0932\u0917 \u0905\u0932\u0917 \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u0915\u093e \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u093e \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0938\u0947\u0915\u094d\u0936\u0928 A \u092e\u0947\u0902 \u0938\u0947\u0932 \u0911\u092b \u092a\u094d\u0930\u094b\u0921\u0915\u094d\u091f \u092f\u093e\u0928\u0940 \u092e\u093e\u0932 \u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u094b \u0915\u0941\u091b \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0906\u092a \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f ARBL \u0928\u0947 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092a\u0930 \u0928\u0947\u091f \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 \u0915\u0947 \u0905\u0932\u093e\u0935\u093e 45.5 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u0947 \u0905\u0926\u0930 \u0907\u0928\u0915\u092e (Other Income) \u092f\u093e\u0928\u0940 \u0905\u0928\u094d\u092f \u0906\u092f \u0915\u094b \u092d\u0940 \u0926\u093f\u0916\u093e\u092f\u093e \u0939\u0948\u0964 \u0928\u0940\u091a\u0947 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u0928\u094b\u091f \u0928\u0902\u092c\u0930 18 \u092e\u0947\u0902 \u092c\u0924\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u0915\u093f \u0905\u0928\u094d\u092f \u0906\u092f \u0915\u0947 \u0924\u0939\u0924 \u0915\u094d\u092f\u093e-\u0915\u094d\u092f\u093e \u091a\u0940\u091c\u0947\u0902 \u0906\u0924\u0940 \u0939\u0948\u0902\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u0928\u094d\u092f \u0906\u092f \u092e\u0947\u0902 \u0935\u094b \u0906\u092f \u092f\u093e \u0906\u092e\u0926\u0928\u0940 \u0936\u093e\u092e\u093f\u0932 \u0939\u0948\u0902, \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092e\u0941\u0916\u094d\u092f \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u092c\u0948\u0902\u0915 \u0921\u093f\u092a\u0949\u091c\u093f\u091f \u092a\u0930 \u092c\u094d\u092f\u093e\u091c, \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921, \u0907\u0902\u0936\u094d\u092f\u094b\u0930\u0947\u0902\u0938 \u0915\u094d\u0932\u0947\u092e, \u0930\u0949\u092f\u0932\u094d\u091f\u0940 \u0938\u0947 \u0906\u092f \u0907\u0924\u094d\u092f\u093e\u0926\u093f \u0905\u0928\u094d\u092f \u0906\u092f \u0915\u0947 \u0924\u0939\u0924 \u0906\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0905\u0928\u094d\u092f \u0906\u092f, \u0915\u0941\u0932 \u0906\u092e\u0926\u0928\u0940 \u0915\u093e \u091b\u094b\u091f\u093e \u0938\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u0914\u0930 \u0910\u0938\u093e \u0939\u094b\u0928\u093e \u092d\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u0905\u0917\u0930 \u0905\u0928\u094d\u092f \u0906\u092f \u0915\u093e \u092f\u094b\u0917\u0926\u093e\u0928 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0917\u093e, \u0924\u094b \u0915\u0941\u091b \u0917\u0921\u093c\u092c\u0921\u093c \u0939\u094b\u0928\u0947 \u0915\u0940 \u0928\u093f\u0936\u093e\u0928\u0940 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0907\u0938\u0915\u0940 \u091c\u093e\u0902\u091a \u092a\u0921\u093c\u0924\u093e\u0932 \u0915\u0930\u0928\u0947 \u0915\u0940 \u091c\u093c\u0930\u0942\u0930\u0924 \u0939\u094b\u0917\u0940\u0964", "\u0924\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092e\u0941\u0916\u094d\u092f \u0915\u093e\u092e \u0938\u0947 \u0939\u0941\u0908 \u0906\u092e\u0926\u0928\u0940, \u091c\u093f\u0938\u0947 \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 \u092b\u094d\u0930\u0949\u092e \u0911\u092a\u0930\u0947\u0936\u0902\u0938 \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902, (3436 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947) \u0914\u0930 \u0905\u0928\u094d\u092f \u0906\u092f (45 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947) \u0915\u094b \u091c\u094b\u0921\u093c\u0915\u0930 FY14 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0915\u0941\u0932 \u0906\u092f \u092f\u093e\u0928\u0940 \u091f\u094b\u091f\u0932 \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 \u0939\u094b\u0917\u093e 3482 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947\u0964", "\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u0940 \u0915\u093e\u092e \u0915\u0940 \u092c\u093e\u0924\u0947\u0902:", "Superb", "Happy Learning \ud83d\ude42", "Ye toh dekh liya ki company ka profit increase horha hai toh acha hai but ye kese pta kree ki company ka profit kis growth s bdnaa chahiyee?", "Hi Aadithya, \u0906\u092a \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932\u0938 \u0915\u0947 \u092e\u093e\u0927\u094d\u092f\u092e \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0935\u0943\u0926\u094d\u0927\u093f \u0915\u0940 \u091c\u093e\u0902\u091a \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0911\u0928\u0932\u093e\u0907\u0928 \u0915\u0908 \u0938\u093e\u0907\u091f\u0947\u0902 \u0939\u0948\u0902 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u090f\u0928\u0941\u0905\u0932 \u0914\u0930 \u0915\u094d\u0935\u093e\u0930\u094d\u091f\u0930\u0932\u0940\u0928 \u0921\u093e\u091f\u093e \u0915\u093e \u091f\u094d\u0930\u0948\u0915 \u0930\u0916\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u092f\u0939 \u092e\u094c\u0932\u093f\u0915 \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0939\u0948\u0964", "Jankari dene ke liye khub khub dhanywad sir.\ncompany profit yearly kitne % se rais ho to woh apne share ko effect karega? and investor ko achchha return mil paye.", "\u091c\u0940 \u0939\u093e\u0901 \u0915\u0902\u092a\u0928\u0940 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u0905\u0917\u0930 \u092c\u095d\u0947\u0917\u093e \u0924\u094b\u0939 \u0936\u0947\u092f\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u092e\u0947\u0902 \u092d\u0940 \u092c\u0926\u0932\u093e\u0935 \u0906\u090f\u0917\u093e\u0964", "Superb sir asehehe sari chize hindime batayakro sir", "\u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964 \ud83d\ude42", "superb terrific great", "Thank you \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch4-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch4-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch4-chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch4-chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch4-chart4.jpg", "https://secure.gravatar.com/avatar/652a8bff5fdd4e21638d9fd1570a19c5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5a6805ae5258954c4ccc8d76197debc9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/91d8c38fb9810fda9fbb27b17e2da325?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f4c75218d1f69bf54969d1d90fbc2fe5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/35f5a7a41f6eaa1a1e9faa16f0e4c0c0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "6. \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u094b \u0915\u0948\u0938\u0947 \u0938\u092e\u091d\u0947\u0902 (\u092d\u093e\u0917 1)", "text": ["\u0915\u0902\u092a\u0928\u0940 \u0915\u0947 P&L \u0905\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u0939\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0928\u092b\u093e-\u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948, \u091c\u092c\u0915\u093f \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0938\u0947 \u0939\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u090f\u0938\u0947\u091f (Asset), \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 (Laibility) \u0914\u0930 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u0940 \u0939\u093f\u0938\u094d\u0938\u0947\u0926\u093e\u0930\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948\u0964 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u093f\u0938\u0940 \u090f\u0915 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0935\u0930\u094d\u0937 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0924\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0947 \u090f\u0915 \u0905\u0932\u0917 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092e\u093e\u0928\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u091c\u092c\u0915\u093f \u0926\u0942\u0938\u0930\u0940 \u0924\u0930\u092b \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u090f\u0915 \u0910\u0938\u093e \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0936\u0941\u0930\u0942\u0906\u0924 \u0938\u0947 \u0932\u0947\u0915\u0930 \u0905\u092c\u0924\u0915 \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0906 \u0930\u0939\u0947 \u092c\u0926\u0932\u093e\u0935 \u0915\u094b \u0926\u093f\u0916\u0932\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u092f\u0947 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0924\u094c\u0930 \u092a\u0930 \u0915\u093f\u0938 \u0924\u0930\u0939 \u0938\u0947\u00a0 \u092c\u0926\u0932\u0924\u0940 \u0930\u0939\u0940 \u0939\u0948\u0964", "\u0905\u092e\u093e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940\u091c \u0932\u093f\u092e\u093f\u091f\u0947\u0921 (ARBL) \u0915\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092a\u0930 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902-", "", "\u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u090f\u0938\u0947\u091f, \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0914\u0930 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0940 \u0917\u0908 \u0939\u0948\u0964", "\u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u090f\u0938\u0947\u091f\u094d\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0940 \u0925\u0940\u0964 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u092e\u0942\u0930\u094d\u0924 \u092a\u0930\u093f\u0938\u0902\u092a\u0924\u094d\u0924\u093f \u092f\u093e\u0928\u0940 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f\u094d\u0938 (Tangible assets) \u0914\u0930 \u0905\u092e\u0942\u0930\u094d\u0924 \u092a\u0930\u093f\u0938\u0902\u092a\u0924\u094d\u0924\u093f \u092f\u093e\u0928\u0940 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f\u094d\u0938 (Intangible assets) \u0926\u094b\u0928\u094b\u0902 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u0938\u0947\u091f \u092f\u093e\u0928\u0940 \u092a\u0930\u093f\u0938\u0902\u092a\u0924\u094d\u0924\u093f \u0915\u094b\u0908 \u090f\u0915 \u0910\u0938\u0940 \u0935\u0938\u094d\u0924\u0941 \u0939\u094b\u0924\u0940 \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0932\u093f\u090f \u0915\u0940\u092e\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u091c\u093f\u0928 \u090f\u0938\u0947\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u092e \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902, \u0935\u094b \u0939\u0948- \u092b\u0948\u0915\u094d\u091f\u094d\u0930\u0940, \u092e\u0936\u0940\u0928, \u0928\u0915\u0926, \u092c\u094d\u0930\u093e\u0902\u0921, \u092a\u0947\u091f\u0947\u0902\u091f \u0906\u0926\u093f\u0964 \u0907\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u092e \u0906\u0917\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0926\u0947\u0928\u0926\u093e\u0930\u093f\u092f\u093e\u0902 \u092f\u093e \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0909\u0928 \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u094b \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 \u0909\u0938\u0947 \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u093e \u0939\u0948\u0964 \u0915\u0902\u092a\u0928\u0940 \u092f\u0947 \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u093f\u092f\u093e\u0902 \u0907\u0938\u0932\u093f\u090f \u0932\u0947\u0924\u0940 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0938\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0909\u0938\u0947 \u0907\u0928\u0915\u0947 \u0926\u094d\u0935\u093e\u0930\u093e \u0906\u0930\u094d\u0925\u093f\u0915 \u092b\u093e\u092f\u0926\u093e \u092e\u093f\u0932\u0947\u0917\u093e\u0964 \u0938\u093e\u0927\u093e\u0930\u0923 \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0915\u0939\u0947 \u0924\u094b \u092f\u0947 \u090f\u0915 \u0924\u0930\u0939 \u0915\u093e \u0915\u0930\u094d\u091c \u0939\u0948, \u091c\u093f\u0938\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u091a\u0941\u0915\u093e\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0926\u0947\u0928\u0926\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948- \u091b\u094b\u091f\u0940 \u0914\u0930 \u092c\u0921\u093c\u0940 \u0905\u0935\u0927\u093f \u0915\u093e \u0915\u0930\u094d\u091c, \u0915\u093f\u0938\u0940 \u092d\u0940 \u0924\u0930\u0939 \u0915\u093e \u092d\u0941\u0917\u0924\u093e\u0928 \u0906\u0926\u093f\u0964\u00a0 \u0926\u0947\u0928\u0926\u093e\u0930\u093f\u092f\u093e\u0902 \u092f\u093e \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 2 \u0924\u0930\u0939 \u0915\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948- 1) \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 2) \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940\u0964 \u0907\u0928 \u092a\u0930 \u0939\u092e \u0906\u0917\u0947 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0915\u0941\u0932 \u092a\u0930\u093f\u0938\u0902\u092a\u0924\u094d\u0924\u0940, \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0915\u0941\u0932 \u0926\u0947\u0928\u0926\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0947 \u092c\u0930\u093e\u092c\u0930 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u090f\u0938\u0947\u091f=\u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940", "Assets = Liabilities", "\u0907\u0938 \u0938\u092e\u0940\u0915\u0930\u0923 \u0915\u094b \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u093e \u0938\u092e\u0940\u0915\u0930\u0923 \u092f\u093e \u0905\u0915\u093e\u0909\u0902\u091f\u093f\u0902\u0917 \u0938\u092e\u0940\u0915\u0930\u0923 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0947 \u0938\u092e\u0940\u0915\u0930\u0923 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0939\u092e\u0947\u0936\u093e \u092c\u0948\u0932\u0947\u0902\u0938\u094d\u0921 \u092f\u093e\u0928\u0940 \u0938\u0902\u0924\u0941\u0932\u093f\u0924 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u092f\u093e\u0928\u0940 \u092a\u0930\u093f\u0938\u0902\u092a\u0924\u094d\u0924\u093f \u0914\u0930 \u0926\u0947\u0928\u0926\u093e\u0930\u093f\u092f\u093e\u0902 \u092c\u0930\u093e\u092c\u0930 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u0910\u0938\u093e \u0907\u0938\u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0939\u0930 \u090f\u0938\u0947\u091f \u092f\u093e\u0924\u094b \u092e\u093e\u0932\u093f\u0915 \u0915\u0940 \u092a\u0942\u0902\u091c\u0940 \u0938\u0947 \u0916\u0930\u0940\u0926\u0924\u0940 \u0939\u0948 \u092f\u093e \u0915\u093f\u0938\u0940 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0938\u0947\u0964", "\u090f\u0938\u0947\u091f \u0914\u0930 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0947 \u092c\u0940\u091a \u0915\u093e \u0905\u0902\u0924\u0930 \u0939\u094b\u0924\u093e \u0939\u0948 \u0935\u094b \u0939\u0948 \u092e\u093e\u0932\u093f\u0915 \u0915\u0940 \u092a\u0942\u0902\u091c\u0940, \u091c\u093f\u0938\u0947 \u0939\u092e \u0913\u0928\u0930\u094d\u0938 \u0915\u0948\u092a\u093f\u091f\u0932 (Owners Capital) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0947 \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930\u094d\u0938 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092f\u093e \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0928\u0947\u091f\u0935\u0930\u094d\u0925 \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0938\u092e\u0940\u0915\u0930\u0923 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0926\u0947\u0916\u0947\u0902 \u0924\u094b", "\u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930\u094d\u0938 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 = \u090f\u0938\u0947\u091f-\u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940", "Share holders equity = Assets \u2013 Liabilities", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u0926\u094b \u0939\u093f\u0938\u094d\u0938\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902- \u090f\u0938\u0947\u091f \u0914\u0930 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940\u0964 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0947 \u0905\u0902\u0924\u0930\u094d\u0917\u0924 \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930 \u092b\u0902\u0921 \u092d\u0940 \u0906\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0947 \u0906\u092a \u0928\u0940\u091a\u0947 \u0915\u0940 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u0941\u091b \u0932\u094b\u0917 \u0907\u0938\u0947 \u0932\u0947\u0915\u0930 \u0925\u094b\u0921\u093c\u093e \u0938\u0902\u0936\u092f \u092e\u0947\u0902 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u092f\u0947 \u0938\u0902\u0936\u092f \u0907\u0938\u0932\u093f\u090f \u092a\u0948\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u091c\u092c \u0939\u092e \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0940 \u092c\u093e\u0924 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0924\u094b \u0939\u092e \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0939\u092e \u092f\u0947 \u0915\u0939 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u090a\u092a\u0930 \u0915\u094d\u092f\u093e \u0915\u094d\u092f\u093e \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u093f\u092f\u093e\u0902 \u0939\u0948\u0902, \u091c\u092c\u0915\u093f \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930 \u092b\u0902\u0921 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u092a\u0942\u0902\u091c\u0940 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u090f\u0915 \u0938\u093e\u0925 \u0926\u0947\u0916\u0928\u093e \u0925\u094b\u0921\u093c\u093e \u0938\u0902\u0936\u092f \u092a\u0948\u0926\u093e \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930 \u092b\u0902\u0921 \u0924\u094b \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u090f\u0938\u0947\u091f \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f, \u0928\u093e \u0915\u093f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940\u0964", "\u0907\u0938\u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u093e \u0928\u091c\u093c\u0930\u093f\u092f\u093e \u092c\u0926\u0932\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u090f\u0915 \u0907\u0902\u0938\u093e\u0928 \u0939\u0948, \u091c\u093f\u0938\u0915\u093e \u0915\u093e\u092e \u0939\u0948 \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092a\u0942\u0902\u091c\u0940 \u0915\u092e\u093e \u0915\u0930 \u0926\u0947\u0928\u093e\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0926\u0947\u0916\u0928\u0947 \u092a\u0930 \u0906\u092a \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b (\u091c\u093f\u0938\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u094d\u0930\u092e\u094b\u091f\u0930 \u092d\u0940 \u0936\u093e\u092e\u093f\u0932 \u0939\u0948\u0902) \u0915\u0902\u092a\u0928\u0940 \u0938\u0947 \u0905\u0932\u0917 \u0915\u0930 \u0915\u0947 \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0928\u091c\u093c\u0930\u093f\u092f\u0947 \u0938\u0947 \u0926\u0947\u0916\u0928\u0947 \u092a\u0930 \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u092e\u0947\u0902 \u0906\u090f\u0917\u093e \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u0905\u092a\u0928\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0939\u093e\u0932\u0924 \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0924\u0940 \u0939\u0948\u0964", "\u0907\u0938\u0915\u093e \u092f\u0947 \u092d\u0940 \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930 \u092b\u0902\u0921 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u0928\u0939\u0940\u0902 \u0939\u0948, \u092f\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u0940 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930\u094d\u0938 \u092b\u0902\u0921 \u0915\u094b \u090f\u0915 \u0910\u0938\u0940 \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u0940 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u093f\u0916\u093e\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 \u0935\u094b \u092c\u093e\u0926 \u092e\u0947\u0902 \u091a\u0941\u0915\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u0947 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0935\u093e\u0932\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940\u091c \u0915\u094b 3 \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0924\u0940 \u0939\u0948 \u2013 \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930\u094d\u0938 \u092b\u0902\u0921, \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0914\u0930 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940\u0964 \u092a\u0939\u0932\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930\u094d\u0938 \u092b\u0902\u0921 \u0915\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "", "\u0936\u0947\u092f\u0930 \u0915\u0948\u092a\u093f\u091f\u0932 \u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0910\u0938\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0940\u091c\u093f\u090f \u091c\u094b \u092a\u0939\u0932\u0940 \u092c\u093e\u0930 \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u091c\u093e\u0930\u0940 \u0915\u0930 \u0930\u0939\u0940 \u0939\u0948\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0928\u093e\u092e ABC \u0939\u0948 \u0914\u0930 \u0935\u0939 10 \u0930\u0942\u092a\u092f\u0947 \u0915\u0947 \u092b\u0947\u0938\u0935\u0948\u0932\u094d\u092f\u0942 \u0935\u093e\u0932\u0947 1000 \u0936\u0947\u092f\u0930 \u091c\u093e\u0930\u0940 \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0924\u094b \u0936\u0947\u092f\u0930 \u0915\u0948\u092a\u093f\u091f\u0932 \u0939\u0941\u0906 10 \u00d7 1000 = 10000. (\u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942 \u00d7 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e)", "ARBL \u0915\u0947 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0915\u0948\u092a\u093f\u091f\u0932 17.081 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0939\u0948\u0964 \u091c\u092c\u0915\u093f \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942 \u0939\u0948 1 \u0930\u0942\u092a\u092f\u093e\u0964", "", "\u0939\u092e \u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942 \u0914\u0930 \u0936\u0947\u092f\u0930 \u0915\u0948\u092a\u093f\u091f\u0932 \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0915\u0947 \u0915\u0941\u0932 \u0906\u0909\u091f\u0938\u094d\u091f\u0948\u0902\u0921\u093f\u0902\u0917 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u091c\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948", "\u0936\u0947\u092f\u0930 \u0915\u0948\u092a\u093f\u091f\u0932 = FV (\u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942) * \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e", "\u0907\u0938\u0932\u093f\u090f, \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e = \u0936\u0947\u092f\u0930 \u0915\u0948\u092a\u093f\u091f\u0932/ FV (\u092b\u0947\u0938 \u0935\u0948\u0932\u094d\u092f\u0942)", "\u0907\u0938\u0932\u093f\u090f ARBL \u0915\u0947 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902,", "\u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e = 17,08,10,000 / 1", "= 17,08,10,000 \u0936\u0947\u092f\u0930", "\u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u0940 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0935\u093e\u0932\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948- \u201c\u0930\u093f\u091c\u0930\u094d\u0935 \u0914\u0930 \u0938\u0930\u092a\u094d\u0932\u0938\u201d\u0964 \u0930\u093f\u091c\u0930\u094d\u0935 \u0909\u0938 \u0930\u0915\u092e \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u093f\u0938\u0940 \u0916\u093e\u0938 \u0915\u093e\u092e \u0915\u0947 \u0932\u093f\u090f \u092c\u091a\u093e \u0915\u0930 \u0930\u0916\u0924\u0940 \u0939\u0948\u0964 \u0938\u0930\u092a\u094d\u0932\u0938 \u0909\u0938 \u0930\u0915\u092e \u0915\u094b \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u091c\u0939\u093e\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 ARBL \u0915\u0947 \u0932\u093f\u090f \u0930\u093f\u091c\u0930\u094d\u0935 \u0914\u0930 \u0938\u0930\u092a\u094d\u0932\u0938 \u0915\u0940 \u0930\u0915\u092e \u0939\u0948 1345.6 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947\u0964 \u0930\u093f\u091c\u0930\u094d\u0935 \u0914\u0930 \u0938\u0930\u092a\u094d\u0932\u0938 \u0915\u0947 \u0938\u093e\u0925 \u091c\u0941\u0921\u093c\u093e \u0939\u0941\u0906 \u0928\u094b\u091f \u0928\u0902\u092c\u0930 3 \u0939\u0948\u0964 \u0907\u0938\u0915\u094b \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0938\u094d\u0935\u0940\u0930 \u092e\u0947\u0902 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0915\u0941\u0932 \u0930\u0915\u092e \u0915\u094b 3 \u0924\u0930\u0939 \u0915\u0947 \u0930\u093f\u091c\u0930\u094d\u0935 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u093e \u0939\u0948\u0964", "\u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u093e \u0905\u0917\u0932\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u0948 \u0938\u0930\u092a\u094d\u0932\u0938 \u0915\u093e\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u092a\u0939\u0932\u0947 \u092c\u0924\u093e \u091a\u0941\u0915\u0947 \u0939\u0948\u0902 \u0915\u093f \u0938\u0930\u092a\u094d\u0932\u0938 \u092e\u0947\u0902 \u0938\u093e\u0932 \u0915\u0947 \u092e\u0941\u0928\u093e\u092b\u0947 \u0915\u0940 \u0938\u093e\u0930\u0940 \u0930\u0915\u092e \u0926\u093f\u0916\u093e\u0908 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u0915\u0941\u091b \u092c\u093e\u0924\u094b\u0902 \u092a\u0930 \u0906\u092a\u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "", "\u0936\u0947\u092f\u0930 \u0915\u0948\u092a\u093f\u091f\u0932, \u0930\u093f\u091c\u0930\u094d\u0935 \u0914\u0930 \u0938\u0930\u092a\u094d\u0932\u0938 \u0915\u094b \u092e\u093f\u0932\u093e\u0915\u0930 \u091c\u094b \u0930\u0915\u092e \u092c\u0928\u0924\u0940 \u0939\u0948 \u0935\u094b \u0915\u0941\u0932 \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930 \u092b\u0902\u0921 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u091a\u0941\u0902\u0915\u093f \u092f\u0947 \u0930\u0915\u092e \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930\u094d\u0938 \u0915\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u0947 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0935\u093e\u0932\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u0940 \u0935\u094b \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u093f\u092f\u093e\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u094b \u0915\u0902\u092a\u0928\u0940 365 \u0926\u093f\u0928/12\u092e\u0939\u0940\u0928\u0947 \u0915\u0947 \u0905\u0902\u0926\u0930 \u092a\u0942\u0930\u093e \u0928\u0939\u0940\u0902 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0940 \u0939\u0948\u0964 \u092f\u0947 \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u093f\u092f\u093e\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c-\u0915\u093f\u0924\u093e\u092c \u092e\u0947\u0902 \u0938\u093e\u0932\u094b\u0902 \u0924\u0915 \u0926\u093f\u0916\u0924\u0940 \u0939\u0948\u0902\u0964", "ABRL \u0915\u0947 \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u094b \u0907\u0938 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0915\u0902\u092a\u0928\u0940 \u0928\u0947 3 \u0924\u0930\u0939 \u0915\u0940 \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0926\u093f\u0916\u093e\u0908 \u0939\u0948\u0964 \u0906\u0907\u090f \u0909\u0928 \u092a\u0930 \u090f\u0915 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u093e \u0915\u0930\u094d\u091c\u2013 \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u092c\u0949\u0930\u094b\u0907\u0902\u0917 (\u0928\u094b\u091f 4 \u0938\u0947 \u091c\u0941\u0921\u093c\u093e \u0939\u0941\u0906) \u2013 \u092f\u0947 \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u093e \u092a\u0939\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948\u0964 \u092f\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u093e \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0906\u0902\u0915\u0921\u093c\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u091c\u093f\u0924\u0928\u0940 \u092d\u0940 \u091c\u0917\u0939\u094b\u0902 \u0938\u0947 \u0915\u0930\u094d\u091c \u0932\u093f\u092f\u093e \u0939\u0948, \u0935\u094b \u0938\u092c \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0915\u0930\u094d\u091c \u0915\u0947 \u0906\u0902\u0915\u0921\u093c\u0947 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0941\u091b \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0930\u0947\u0936\u094d\u092f\u094b \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0906\u0917\u0947 \u0939\u092e \u0907\u0938 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0915\u0930\u094d\u091c \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0928\u094b\u091f \u092a\u0930 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u093f\u090f\u0964", "", "\u0907\u0938 \u0928\u094b\u091f \u0938\u0947 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u092f\u0939\u093e\u0902 \u092a\u0930 \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u092c\u0949\u0930\u094b\u0907\u0902\u0917 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0907\u0902\u091f\u094d\u0930\u0947\u0938\u094d\u091f \u092b\u094d\u0930\u0940 \u0938\u0947\u0932\u094d\u0938 \u091f\u0948\u0915\u094d\u0938 \u0921\u093f\u092b\u0930\u092e\u0947\u0902\u091f ()\u0964 \u0907\u0938\u0915\u094b \u0938\u092e\u091d\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0928\u094b\u091f \u0915\u0947 \u0920\u0940\u0915 \u0928\u0940\u091a\u0947 \u0915\u0941\u091b \u0932\u093f\u0916\u093e \u0939\u0948 \u091c\u093f\u0938\u0915\u094b \u0932\u093e\u0932 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0910\u0938\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0947 \u0930\u093e\u091c\u094d\u092f \u0938\u0930\u0915\u093e\u0930 \u0938\u0947 \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u093e \u0915\u094b\u0908 \u091f\u0948\u0915\u094d\u0938 \u0907\u0902\u0938\u0947\u091f\u093f\u0935 \u0939\u0948 \u091c\u093f\u0938\u0915\u094b \u0915\u0902\u092a\u0928\u0940 14 \u0938\u093e\u0932 \u0938\u0947 \u0915\u0941\u091b \u091c\u094d\u092f\u093e\u0926\u093e \u0938\u092e\u092f \u092e\u0947\u0902 \u091a\u0941\u0915\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0939\u0948\u0964", "\u0906\u092a\u0915\u094b \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u0910\u0938\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u092e\u093f\u0932 \u091c\u093e\u090f\u0902\u0917\u0940 \u091c\u093f\u0928\u0915\u0947 \u092a\u093e\u0938 \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u092c\u0949\u0930\u094b\u0907\u0902\u0917 \u092f\u093e \u0915\u0930\u094d\u091c \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964 \u0935\u0948\u0938\u0947 \u0924\u094b \u092f\u0947 \u0905\u091a\u094d\u091b\u0940 \u092c\u093e\u0924 \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u092a\u0930 \u0915\u0930\u094d\u091c \u0928\u0939\u0940\u0902 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0906\u092a\u0915\u094b \u092a\u0942\u091b\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e \u0915\u093f \u0915\u0930\u094d\u091c \u0915\u094d\u092f\u094b\u0902 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0915\u094d\u092f\u093e \u092c\u0948\u0902\u0915 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0915\u0930\u094d\u091c \u0928\u0939\u0940\u0902 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u092f\u093e \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u094b \u092c\u0922\u093c\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u094b\u0908 \u0915\u0926\u092e \u0928\u0939\u0940\u0902 \u0909\u0920\u093e \u0930\u0939\u0940 \u0939\u0948\u0964 \u0939\u092e \u091c\u092c \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u0940 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0930\u0947\u0902\u0917\u0947, \u0924\u092c \u0907\u0938 \u0938\u0935\u093e\u0932 \u0915\u093e \u091c\u0935\u093e\u092c \u0922\u0942\u0902\u0922\u093c\u0947\u0917\u0947\u0902\u0964", "\u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u091c\u092c \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0915\u0930\u094d\u091c \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0915\u093e \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0915\u0949\u0938\u094d\u091f \u092d\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u091c\u092c \u0939\u092e P&L \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930 \u0930\u0939\u0947 \u0925\u0947 \u0924\u094b \u0939\u092e\u0928\u0947 \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0915\u0949\u0938\u094d\u091f \u0915\u0947 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0915\u0947 \u0924\u0939\u0924 \u092f\u0947 \u092c\u093e\u0924 \u091c\u093e\u0928\u0940 \u0925\u0940\u0964", "\u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u092e\u0947\u0902 \u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u2013 \u0921\u0947\u092b\u0930\u094d\u0921 \u091f\u0948\u0915\u094d\u0938 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 (Deferred tax liability)\u0964 \u0915\u0902\u092a\u0928\u0940 \u091c\u092c \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u091f\u0948\u0915\u094d\u0938 \u092d\u0941\u0917\u0924\u093e\u0928 \u0915\u0947 \u0932\u093f\u090f \u0930\u0915\u092e \u0915\u093e \u0907\u0902\u0924\u091c\u093e\u092e \u0915\u0930\u0924\u0940 \u0939\u0948, \u0924\u094b \u0909\u0938\u0947 \u0921\u0947\u092b\u0930\u094d\u0921 \u091f\u0948\u0915\u094d\u0938 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u094b \u092f\u0939\u093e\u0902 \u0938\u094b\u091a\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0910\u0938\u093e \u0915\u094d\u092f\u093e \u0915\u0930\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0909\u0938\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u091c\u094d\u092f\u093e\u0926\u093e \u091f\u0948\u0915\u094d\u0938 \u0926\u0947\u0928\u093e \u092a\u0921\u093c\u0947 \u0914\u0930 \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u0907\u0902\u0924\u091c\u093e\u092e \u0905\u092d\u0940 \u0915\u0930\u0928\u093e \u092a\u0921\u093c\u0947\u0964", "\u0910\u0938\u093e \u0907\u0938\u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0915\u0902\u092a\u0928\u0940\u091c \u090f\u0915\u094d\u091f \u0914\u0930 \u0907\u0928\u0915\u092e \u091f\u0948\u0915\u094d\u0938 \u0915\u0947 \u0924\u0939\u0924 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 (Depreciation) \u0915\u094b \u090f\u0915 \u0916\u093e\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0926\u0947\u0916\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u092d\u0940 \u0939\u092e \u0907\u0938 \u092a\u0930 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u093e\u0924 \u0928\u0939\u0940\u0902 \u0915\u0930\u0947\u0902\u0917\u0947 \u0932\u0947\u0915\u093f\u0928 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u0921\u0947\u092b\u0930\u094d\u0921 \u091f\u0948\u0915\u094d\u0938 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u093e \u0938\u0940\u0927\u093e \u0938\u0902\u092c\u0902\u0927 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0938\u0947 \u0939\u0948\u0964", "\u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u093e \u0905\u0902\u0924\u093f\u092e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948- \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u092a\u094d\u0930\u094b\u0935\u093f\u091c\u0928\u094d\u0938 (Long term provisions)\u0964 \u092f\u0947 \u0935\u094b \u0930\u0915\u092e \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u093f\u092f\u094b\u0902 \u092a\u0930 \u0916\u0930\u094d\u091a \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0917\u094d\u0930\u0948\u091a\u094d\u092f\u0942\u091f\u0940, \u0932\u0940\u0935 \u090f\u0928\u0915\u0948\u0936\u092e\u0947\u0902\u091f, \u092a\u094d\u0930\u0949\u0935\u093f\u0921\u0947\u0902\u0921 \u092b\u0902\u0921 \u091c\u0948\u0938\u0940 \u091a\u0940\u091c\u0947\u0902 \u0936\u093e\u092e\u093f\u0932 \u0939\u0948\u0902\u0964", "\u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0935\u094b \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u093f\u092f\u093e\u0902 \u0939\u0948\u0902 \u091c\u093f\u0928\u094d\u0939\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b 365 \u0926\u093f\u0928 \u092f\u093e\u0928\u0940 1 \u0938\u093e\u0932 \u0915\u0947 \u0905\u0902\u0926\u0930 \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u0915\u0930\u0947\u0902\u091f \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u092f\u0947 \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u093f\u092f\u093e\u0902 \u091c\u0932\u094d\u0926\u0940 \u092a\u0942\u0930\u0940 \u0915\u0940 \u091c\u093e\u090f\u0902\u0917\u0940\u0964 \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u092e\u0947\u0902 \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930\u093f\u092f\u093e\u0902 1 \u0938\u093e\u0932 \u0915\u0947 \u092c\u093e\u0926 \u092a\u0942\u0930\u0940 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902- \u0905\u0917\u0930 \u0906\u092a \u092e\u094b\u092c\u093e\u0907\u0932 \u092b\u094b\u0928 EMI (\u0915\u094d\u0930\u0947\u0921\u093f\u091f \u0915\u093e\u0930\u094d\u0921 \u0915\u0947 \u091c\u0930\u093f\u090f) \u092a\u0930 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092f\u0947 \u092c\u093e\u0924 \u0938\u093e\u092b \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u094d\u0930\u0947\u0921\u093f\u091f \u0915\u093e\u0930\u094d\u0921 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0915\u0941\u091b \u092e\u0939\u0940\u0928\u0947 \u092e\u0947\u0902 \u0915\u0930\u094d\u091c \u091a\u0941\u0915\u093e\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e \u0930\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0947 \u0939\u0941\u0908 \u0906\u092a\u0915\u0940 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940, \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0906\u092a \u090f\u0915 \u092b\u094d\u0932\u0948\u091f \u0916\u0931\u0940\u0926\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0939\u093e\u0909\u0938\u093f\u0902\u0917 \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0935\u094b \u0915\u0930\u094d\u091c 15 \u0938\u093e\u0932 \u092e\u0947\u0902 \u091a\u0941\u0915\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092f\u0947 \u0906\u092a\u0915\u0940 \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0939\u094b\u0917\u0940\u0964", "\u0928\u0940\u091a\u0947 ARBL \u0915\u0940 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0926\u0947\u0916\u093f\u090f", "", "\u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u092e\u0947\u0902 4 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948\u0902\u0964 \u092a\u0939\u0932\u093e \u0939\u0948 \u2013 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u092c\u0949\u0930\u094b\u0907\u0902\u0917 (Short Term Borrowing)\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0928\u093e\u092e \u0938\u0947 \u0939\u0940 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u092f\u0947 \u0928\u0915\u0926 \u0915\u0940 \u0909\u0938 \u091c\u0930\u0942\u0930\u0924 \u0915\u094b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0930\u094b\u091c\u092e\u0930\u094d\u0930\u093e \u0915\u0940 \u091c\u0930\u0942\u0930\u0924\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u091a\u093e\u0939\u093f\u090f (\u0935\u0930\u094d\u0915\u093f\u0902\u0917 \u0915\u0948\u092a\u093f\u091f\u0932- Working Capital)\u0964 \u0928\u0940\u091a\u0947 \u0939\u092e\u0928\u0947 \u0928\u094b\u091f 7 \u0915\u093e \u090f\u0915 \u0939\u093f\u0938\u094d\u0938\u093e \u0926\u093f\u0916\u093e\u092f\u093e \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u092c\u0949\u0930\u094b\u0907\u0902\u0917 \u0915\u093e \u092e\u0924\u0932\u092c \u0938\u092e\u091d\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0935\u0930\u094d\u0915\u093f\u0902\u0917 \u0915\u0948\u092a\u093f\u091f\u0932 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0938\u094d\u091f\u0947\u091f \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e \u0914\u0930 \u0906\u0902\u0927\u094d\u0930\u093e \u092c\u0948\u0902\u0915 \u0938\u0947 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u0932\u094b\u0928 \u0932\u093f\u092f\u093e \u0939\u0948\u0964 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u092c\u0949\u0930\u094b\u0907\u0902\u0917 \u0915\u092e \u0938\u0947 \u0915\u092e \u0930\u0916\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u092f\u0947 \u0930\u0915\u092e 8.3 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u0940 \u0939\u0948\u0964", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u2013 \u091f\u094d\u0930\u0947\u0921 \u092a\u0947\u092f\u0947\u092c\u0932 -Trade Payable (\u0907\u0938\u0947 \u0905\u0915\u093e\u0909\u0902\u091f \u092a\u0947\u092f\u0947\u092c\u0932 \u2013 Account Payable- \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902)\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u092f\u0947 \u0930\u0915\u092e 127.7 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0939\u0948\u0964 \u092f\u0947 \u0935\u094b \u0930\u0915\u092e \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0905\u092a\u0928\u0947 \u0935\u0947\u0902\u0921\u0930\u094d\u0938/\u0938\u092a\u094d\u0932\u093e\u092f\u0930\u094d\u0938 \u0915\u094b \u0926\u0947\u0928\u0940 \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u0915\u091a\u094d\u091a\u093e \u092e\u093e\u0932 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0938\u092a\u094d\u0932\u093e\u092f\u0930, \u092c\u093f\u091c\u0932\u0940-\u092a\u093e\u0928\u0940 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902, \u0938\u094d\u091f\u0947\u0936\u0928\u0930\u0940 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0902\u092a\u0928\u0940 \u0906\u0926\u093f\u0964 \u0928\u0940\u091a\u0947 \u0928\u094b\u091f 8 \u092e\u0947\u0902 \u0907\u0938\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u0905\u0926\u0930 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940, \u091c\u094b \u0915\u093f \u092f\u0939\u093e\u0902 215.6 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0939\u0948\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092f\u0947 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0909\u0928 \u0915\u093e\u0928\u0942\u0928\u0940 \u091c\u0930\u0942\u0930\u0924\u094b\u0902 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u091c\u093f\u0928\u0915\u093e \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0938\u0947 \u0915\u094b\u0908 \u0938\u0940\u0927\u093e \u0938\u0902\u092c\u0902\u0927 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964 \u0928\u0940\u091a\u0947 \u0928\u094b\u091f 9 \u092e\u0947\u0902 \u0906\u092a \u0907\u0938\u0947 \u0938\u092e\u091d \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u092e\u0947\u0902 \u0905\u0902\u0924\u093f\u092e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948- \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u092a\u094d\u0930\u0949\u0935\u093f\u091c\u0928\u094d\u0938 ()\u0964 \u092f\u0939\u093e\u0902 \u092f\u0947 281.8 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0939\u0948\u0964 \u092f\u0947 \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u092a\u094d\u0930\u0949\u0935\u093f\u091c\u0928\u094d\u0938 \u0915\u0940 \u0924\u0930\u0939 \u0939\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u0939\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0917\u094d\u0930\u0948\u091a\u094d\u092f\u0942\u091f\u0940, \u092a\u094d\u0930\u0949\u0935\u093f\u0921\u0947\u0902\u0921 \u092b\u0902\u0921 \u091c\u0948\u0938\u0940 \u091a\u0940\u091c\u094b\u0902 \u0915\u093e \u0907\u0902\u0924\u091c\u093e\u092e \u0915\u093f\u092f\u093e \u0939\u0948\u0964 \u0906\u092a \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u093f \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u090f\u0915 \u0939\u0940 \u0928\u094b\u091f \u0939\u0948\u0964", "", "\u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u0914\u0930 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u092a\u094d\u0930\u0949\u0935\u093f\u091c\u0928\u094d\u0938 \u0938\u0947 \u091c\u0941\u0921\u093c\u093e \u0928\u094b\u091f 6 \u0915\u0908 \u092a\u0928\u094d\u0928\u094b\u0902 \u0924\u0915 \u091a\u0932\u0924\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u092e\u0948\u0902 \u0907\u0938\u0915\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u091c\u093e \u0930\u0939\u093e \u0939\u0942\u0902\u0964 \u0906\u092a \u091a\u093e\u0939\u0947\u0902 \u0924\u094b ARBL \u0915\u0947 FY14\u00a0 \u0915\u0947 \u0935\u093e\u0930\u094d\u0937\u093f\u0915 \u0930\u093f\u092a\u094b\u0930\u094d\u091f \u0915\u0947 \u092a\u0947\u091c 80,81,82 \u0914\u0930 83 \u092a\u0930 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0935\u0948\u0938\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u0947 \u0938\u0902\u0926\u0930\u094d\u092d \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0938\u093f\u0930\u094d\u092b \u092f\u0947 \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u092f\u0947 \u0926\u094b\u0928\u094b\u0902 (\u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u0914\u0930 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u092a\u094d\u0930\u0949\u0935\u093f\u091c\u0928\u094d\u0938) \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u094b \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u0941\u0935\u093f\u0927\u093e\u0913\u0902 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a \u0907\u0928\u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0928\u094b\u091f \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u0907\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0942\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092a\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u092c \u0924\u0915 \u0939\u092e\u0928\u0947 \u0906\u0927\u0940 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u094b \u0938\u092e\u091d \u0932\u093f\u092f\u093e \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0935\u093e\u0932\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u092c\u093e\u0924\u0947\u0902 \u0925\u0940\u0902\u0964 \u090f\u0915 \u092c\u093e\u0930 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092a\u0930 \u092b\u093f\u0930 \u0938\u0947 \u0928\u091c\u093c\u0930 \u0921\u093e\u0932\u093f\u090f \u0924\u093e\u0915\u093f \u0906\u092a\u0915\u094b \u092f\u0947 \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d \u092e\u0947\u0902 \u0906 \u091c\u093e\u090f\u0964", "", "\u0938\u093e\u092b \u0939\u0948,", "\u0915\u0941\u0932 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 = \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930\u094d\u0938 \u092b\u0902\u0921 + \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 + \u0915\u0930\u0947\u0902\u091f \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940", "= 1362.7+143.03+633.7", "\u0915\u0941\u0932 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 = 2139.4 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947", "", "Excellence \ud83d\ude4f\ud83d\ude4f\ud83d\ude4f\ud83d\ude4f\ud83d\ude4f", "\u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964 \ud83d\ude42", "\u092c\u0939\u094b\u0924 \u0939\u0940 \u0938\u0941\u0928\u094d\u0926\u0930 \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u093f\u092f\u093e \u0939\u0948 \u0906\u092a\u0928\u0947 \ud83d\ude4f\ud83d\ude4f\ud83d\ude4f\ud83d\ude4f\ud83d\ude4f\ud83d\ude4f\ud83d\ude4f", "\u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964 \ud83d\ude42", "Bahut Achcha laga aur Samajh Mein Bhi Aaya Mujhe iske liye aapko bahut bahut dhanyvad namaskar", "\u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964 \ud83d\ude42", "Ager assets aur laiability me diffence aata h to kya krte h", "\u0905\u0917\u0930 \u0905\u0938\u0947\u0938\u094d\u091f\u094d\u0938 \u0914\u0930 \u0932\u093f\u090f\u092c\u093f\u0932\u093f\u091f\u0940\u095b \u092e\u0947\u0902 \u0921\u093f\u092b\u0930\u0947\u0902\u0938 \u0906\u0924\u093e \u0939\u0948 \u0924\u094b\u0939 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u091f\u0948\u0932\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e.", "I can\u2019t understand about Equity share fund how to came in Liability", "\u0906\u092a\u0915\u093e \u092a\u094d\u0930\u0936\u094d\u0928 \u0938\u092e\u091d \u0928\u0939\u0940\u0902 \u0906\u092f\u093e, \u0915\u094d\u092f\u093e \u0906\u092a \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u092e\u0947\u0902 \u092c\u0924\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902?", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-title2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart12.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart6.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart7.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart8.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart9.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart11.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart12.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart13.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch6-Chart14.jpg", "https://secure.gravatar.com/avatar/f2598e56174de661b27edf18ee33496a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/4a2df84adb80213505163aa7519c87ee?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/badf522b4669da90877a782b0de8d0da?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ba3778ea191a2bee1437b1e0114577d6?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/51da8d36e29bba0899255f79adf898cc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "5. P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0938\u092e\u091d\u0947\u0902- \u092d\u093e\u0917 2", "text": ["", "\u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0906\u092e\u0926\u0928\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u093e \u0925\u093e\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0916\u0930\u094d\u091a\u094b\u0902 \u0914\u0930 \u0909\u0938\u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0928\u094b\u091f\u094d\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0947\u0902\u0917\u0947\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0915\u093e\u092e \u092a\u0930 \u0915\u093f\u090f \u0917\u094d\u090f \u0916\u0930\u094d\u091a\u094b\u0902 \u0915\u094b \u0905\u0932\u0917-\u0905\u0932\u0917 \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u2013 \u092f\u093e \u0924\u094b \u0916\u0930\u094d\u091a\u094b\u0902 \u0915\u0940 \u092a\u094d\u0930\u0935\u0943\u0924\u094d\u0924\u093f \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092f\u093e \u092b\u093f\u0930 \u0915\u0949\u0938\u094d\u091f \u0911\u092b \u0938\u0947\u0932\u094d\u0938 \u092e\u0947\u0925\u0921 (cost of sales method) \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947\u0964 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0939\u0930 \u0916\u0930\u094d\u091a \u0915\u093e \u0932\u0947\u0916\u093e\u091c\u094b\u0916\u093e \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u0914\u0930 \u0932\u0949\u0938 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u092f\u093e \u092b\u093f\u0930 \u0928\u094b\u091f\u094d\u0938 \u092e\u0947\u0902 \u0926\u093f\u092f\u093e \u091c\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0906\u092a \u0928\u0940\u091a\u0947 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0939\u0930 \u0916\u0930\u094d\u091a\u0947 \u0915\u0947 \u0906\u0917\u0947 \u092f\u093e\u0928\u0940 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0915\u0947 \u0938\u093e\u092e\u0928\u0947 \u090f\u0915 \u0928\u094b\u091f \u091c\u0941\u0921\u093c\u093e \u0939\u0941\u0906 \u0939\u0948\u0964P&L \u0915\u0947 \u0916\u0930\u094d\u091a \u0935\u093e\u0932\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u092a\u0939\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u0915\u0949\u0938\u094d\u091f \u0911\u092b \u092e\u0947\u091f\u0947\u0930\u093f\u092f\u0932 \u0915\u0902\u091c\u094d\u092f\u0942\u092e\u0921 (Cost of materials consumed) \u092f\u093e\u0928\u0940 \u0909\u0938 \u0915\u091a\u094d\u091a\u0947 \u092e\u093e\u0932 \u092a\u0930 \u0939\u0941\u0906 \u0916\u0930\u094d\u091a \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0905\u092a\u0928\u093e \u092e\u0941\u0916 \u0909\u0924\u094d\u092a\u093e\u0926 \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0916\u0930\u0940\u0926\u093e \u0939\u0948\u0964 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u093e \u0916\u0930\u094d\u091a \u092f\u0939\u0940 \u0939\u0948\u0964\u00a0 FY14 \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u0916\u0930\u094d\u091a 2101 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0939\u0948 \u091c\u092c\u0915\u093f FY13 \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u0916\u0930\u094d\u091a 1760 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0925\u093e\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0928\u094b\u091f \u0928\u0902\u092c\u0930 19 \u092e\u0947\u0902 \u0926\u0940 \u0917\u0908 \u0939\u0948\u0964", "", "\u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0928\u094b\u091f 19 \u092e\u0947\u0902 \u0915\u091a\u094d\u091a\u0947 \u092e\u093e\u0932 \u0915\u0940 \u0916\u092a\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0940 \u0917\u092f\u0940 \u0939\u0948 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0932\u0947\u0921, \u0932\u0947\u0921 \u090f\u0932\u0949\u092f, \u0938\u0947\u092a\u0930\u0947\u091f\u0930 (Lead, Lead alloys, Separators) \u0914\u0930 \u0926\u0942\u0938\u0930\u0940 \u091a\u0940\u091c\u094b\u0902 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093f\u0938\u0915\u093e \u0916\u0930\u094d\u091a 2101 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0925\u093e\u0964", "\u0905\u0917\u0932\u0947 \u0926\u094b \u0906\u0907\u091f\u092e \u0939\u0948\u0902- \u092a\u0930\u091a\u0947\u091c\u0947\u091c\u093c \u0911\u092b \u0938\u094d\u091f\u0949\u0915 \u0907\u0928 \u091f\u094d\u0930\u0947\u0921 (Purchases of Stock in Trade) \u0914\u0930 \u091a\u0947\u0902\u091c \u0907\u0928 \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u0906\u092b \u092b\u093f\u0928\u093f\u0936\u094d\u0921 \u0917\u0941\u0921\u094d\u0938, \u0935\u0930\u094d\u0915 \u0907\u0928 \u092a\u094d\u0930\u094b\u0938\u0947\u0938 \u090f\u0902\u0921 \u0938\u094d\u091f\u0949\u0915 \u0907\u0928 \u091f\u094d\u0930\u0947\u0921 (Change in Inventories of finished goods , work\u2013in-process & stock\u2013in-trade)\u0964 \u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0928\u094b\u091f 20 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947\u00a0 \u0926\u0940 \u0917\u092f\u0940 \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u094b \u091a\u0932\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u091c\u094b \u092d\u0940 \u092c\u0928\u093e \u0939\u0941\u0906 \u0938\u093e\u092e\u093e\u0928 \u092f\u093e \u0924\u0948\u092f\u093e\u0930 \u092e\u093e\u0932 \u0916\u0930\u0940\u0926\u0924\u0940 \u0939\u0948 \u0909\u0938\u0915\u094b \u092a\u0930\u091a\u0947\u091c\u0947\u091c\u093c \u0911\u092b \u0938\u094d\u091f\u0949\u0915 \u0907\u0928 \u091f\u094d\u0930\u0947\u0921 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u092a\u0930 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 211 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0916\u0930\u094d\u091a \u0915\u093f\u090f\u0964 \u0906\u0917\u0947 \u0939\u092e \u0907\u0938\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u091c\u094b \u092e\u093e\u0932 \u0907\u0938 \u0938\u093e\u0932 \u092c\u0947\u091a\u093e, \u0932\u0947\u0915\u093f\u0928 \u091c\u093f\u0938\u0915\u093e \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u092a\u093f\u091b\u0932\u0947 \u0938\u093e\u0932 \u092e\u0947\u0902 \u0939\u0941\u0906 \u0925\u093e, \u0910\u0938\u0947 \u092e\u093e\u0932 \u0915\u094b \u092c\u0928\u093e\u0928\u0947 \u092e\u0947\u0902 \u0939\u0941\u090f \u0916\u0930\u094d\u091a \u0915\u094b \u091a\u0947\u0902\u091c \u0907\u0928 \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u0911\u092b \u092b\u093f\u0928\u093f\u0936\u094d\u0921 \u0917\u0941\u0921\u094d\u0938 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 FY14 \u092e\u0947\u0902 \u0916\u0930\u094d\u091a 29.2 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0925\u093e\u0964", "\u0905\u0917\u0930 \u092f\u0939 \u0906\u0902\u0915\u0921\u093c\u093e (-) \u092e\u0947\u0902 \u092f\u093e\u0928\u0940 \u0928\u0947\u0917\u0947\u091f\u093f\u0935 \u092e\u0947\u0902 \u0926\u0947\u0916 \u0930\u0939\u093e \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0948 \u0915\u093f FY14 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u091c\u093f\u0924\u0928\u0940 \u092c\u0948\u091f\u0930\u093f\u092f\u093e\u0902 \u092c\u0947\u091a\u0940 \u0909\u0938\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0948\u091f\u0930\u093f\u092f\u093e\u0902 \u092c\u0928\u093e\u0908\u0902\u0964 \u092c\u093f\u0915\u094d\u0930\u0940 \u0914\u0930 \u092c\u093f\u0915\u094d\u0930\u0940 \u092a\u0930 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u0916\u0930\u094d\u091a \u0915\u0947 \u0905\u0928\u0941\u092a\u093e\u0924 \u0915\u094b \u0926\u093f\u0916\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0902\u092a\u0928\u0940 \u092e\u094c\u091c\u0942\u0926\u093e \u0938\u093e\u0932 \u0915\u0947 \u0916\u0930\u094d\u091a \u092e\u0947\u0902 \u0938\u0947 \u0935\u0939 \u0916\u0930\u094d\u091a \u0918\u091f\u093e \u0926\u0947\u0924\u0940 \u0939\u0948 (\u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0938\u0947 \u092a\u093f\u091b\u0932\u0947 \u0938\u093e\u0932 \u092c\u0928\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948)\u0964 \u092c\u093e\u0926 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u091c\u092c \u0909\u0938 \u092e\u093e\u0932 \u0915\u094b \u092c\u0947\u091a \u0926\u0947\u0917\u0940 \u0924\u094b \u0909\u0938\u0915\u0947 \u0916\u0930\u094d\u091a\u0947 \u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u091c\u092c \u092d\u0940 \u0915\u092d\u0940 \u0907\u0938 \u0916\u0930\u094d\u091a \u0915\u094b P&L \u092e\u0947\u0902 \u091c\u094b\u0921\u093c\u093e \u091c\u093e\u0924\u093e \u0939\u0948 ( \u092e\u093e\u0932 \u0915\u0947 \u092c\u093f\u0915\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926) \u0924\u094b \u0907\u0938 \u0916\u0930\u094d\u091a \u0915\u094b \u092a\u0930\u091a\u0947\u091c\u0947\u091c\u093c \u0911\u092b \u0938\u094d\u091f\u0949\u0915 \u0907\u0928 \u091f\u094d\u0930\u0947\u0921 (Purchases of Stock in Trade) \u0915\u0947 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u092f\u0939\u093e\u0902 \u0928\u094b\u091f 20 \u092e\u0947\u0902 \u0926\u094b\u0928\u094b\u0902 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u092c\u0924\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "\u090a\u092a\u0930 \u0926\u0940 \u0917\u0908 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092c\u0939\u0941\u0924 \u0938\u093e\u092b \u0939\u0948 \u0914\u0930 \u0907\u0938\u0915\u094b \u0938\u092e\u091d\u0928\u093e \u092c\u0939\u0941\u0924 \u0906\u0938\u093e\u0928 \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u092f\u0939\u093e\u0902 \u0907\u0938\u0915\u0947 \u0914\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u092e\u0947\u0902 \u091c\u093e\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948, \u092f\u0939\u093e\u0902 \u092c\u0938 \u092f\u0939 \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0915\u0941\u0932 \u0916\u0930\u094d\u091a \u0915\u093f\u0924\u0928\u093e \u0939\u0948\u0964 \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u092e\u0949\u0921\u0932\u093f\u0902\u0917 \u0915\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u091c\u093e \u0915\u0930 \u0907\u0938\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0914\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091c\u093e\u0928\u0947\u0902\u0917\u0947\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0916\u0930\u094d\u091a \u092e\u0947\u0902 \u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u2013 \u090f\u092e\u092a\u094d\u0932\u0949\u0908 \u092c\u0947\u0928\u093f\u092b\u093f\u091f \u090f\u0915\u094d\u0938\u092a\u0947\u0902\u0938 (Employee Benefit Expense) \u092f\u093e\u0928\u0940 \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0940 \u0938\u0941\u0935\u093f\u0927\u093e\u0913\u0902 \u092a\u0930 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u093e \u0916\u0930\u094d\u091a\u0964 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0905\u092a\u0928\u0947 \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u0947 \u0935\u0947\u0924\u0928, \u0909\u0928\u0915\u0947 \u092a\u094d\u0930\u094b\u0935\u093f\u0921\u0947\u0902\u091f \u092b\u0902\u0921 \u0914\u0930 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0926\u0942\u0938\u0930\u0947 \u0916\u0930\u094d\u091a\u094b\u0902 \u0915\u094b \u092f\u0939\u093e\u0902 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092f\u0939 \u0916\u0930\u094d\u091a 158 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0925\u093e\u0964 \u0907\u0938 \u092a\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0928\u094b\u091f 21 \u092e\u0947\u0902 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0917\u0908 \u0939\u0948\u0964", "", "\u0906\u092a\u0915\u094b \u0932\u0917 \u0930\u0939\u093e \u0939\u094b\u0917\u093e \u0915\u093f 3482 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u092e\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u093f\u092f\u094b\u0902 \u092a\u0930 \u0938\u093f\u0930\u094d\u092b 158 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0939\u0940 \u0916\u0930\u094d\u091a \u0915\u0930\u0924\u0940 \u0939\u0948 \u092f\u093e\u0928\u0940 \u0938\u093f\u0930\u094d\u092b 4.5%\u0964 \u0926\u0941\u0930\u094d\u092d\u093e\u0917\u094d\u092f\u0935\u0936 \u0926\u0947\u0936 \u0915\u0940 \u0924\u092e\u093e\u092e \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u092e\u0947\u0902 \u092f\u0939\u0940 \u0939\u093e\u0932 \u0939\u0948\u0964", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0915\u0949\u0938\u094d\u091f/\u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u091a\u093e\u0930\u094d\u091c\u0947\u0938/ \u092c\u094c\u0930\u094b\u0907\u0902\u0917 \u0915\u0949\u0938\u094d\u091f (Finance Cost / Finance Charges/ Borrowing Costs) \u0915\u093e \u0964 \u0915\u0902\u092a\u0928\u0940 \u091c\u092c \u0915\u0930\u094d\u091c \u0932\u0947\u0924\u0940 \u0939\u0948 \u0924\u094b \u0909\u0938\u0915\u0947 \u092c\u094d\u092f\u093e\u091c \u0914\u0930 \u0909\u0938\u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0926\u0942\u0938\u0930\u0947 \u0916\u0930\u094d\u091a\u094b\u0902 \u0915\u094b \u092f\u0939\u093e\u0902 \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 FY14 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u092f\u0939 \u0916\u0930\u094d\u091a 0.7 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0925\u093e\u0964 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0915\u0930\u094d\u091c \u0914\u0930 \u0909\u0938\u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0926\u0942\u0938\u0930\u0940 \u091a\u0940\u091c\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u092e \u0909\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0930\u0947\u0902\u0917\u0947 \u091c\u0939\u093e\u0902 \u092a\u0930 \u0939\u092e \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930 \u0930\u0939\u0947 \u0939\u094b\u0902\u0917\u0947\u0964", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u2013 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0914\u0930 \u0905\u092e\u0949\u0930\u091f\u093e\u0907\u091c\u0947\u0936\u0928 (Depreciation and Amortization) \u0915\u093e\u0964 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0907\u0938 \u092a\u0930 64.5 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0916\u0930\u094d\u091a \u0915\u093f\u090f\u0964 \u0907\u0938\u0947 \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u0914\u0930 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f (Tangible and intangible assets) \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u0915\u094b\u0908 \u092d\u0940 \u0910\u0938\u0940 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u091c\u094b \u092d\u094c\u0924\u093f\u0915 \u0924\u094c\u0930 \u092a\u0930 \u092e\u094c\u091c\u0942\u0926 \u0939\u094b \u0914\u0930 \u091c\u093f\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0915\u0941\u0932 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u092e\u0947\u0902 \u091c\u094b\u0921\u093c\u093e \u091c\u093e \u0938\u0915\u0947 \u0909\u0938\u0947 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u092f\u093e\u0928\u0940 \u092d\u094c\u0924\u093f\u0915 \u092a\u0930\u093f\u0938\u0902\u092a\u0924\u094d\u0924\u093f \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u0932\u0948\u092a\u091f\u0949\u092a, \u092a\u094d\u0930\u093f\u0902\u091f\u0930, \u0915\u093e\u0930, \u092e\u0936\u0940\u0928\u0947\u0902, \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0914\u0930 \u092b\u0948\u0915\u094d\u091f\u094d\u0930\u0940 \u0906\u0926\u093f \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0939\u0948\u0902\u0964", "\u0910\u0938\u0940 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u091c\u094b \u092d\u094c\u0924\u093f\u0915 \u0924\u094c\u0930 \u092a\u0930 \u0928 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947 \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0915\u0941\u0932 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u092e\u0947\u0902 \u091c\u094b\u0921\u093c\u0940 \u091c\u093e \u0938\u0915\u0947 \u0909\u0938\u0947 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u092c\u094d\u0930\u093e\u0902\u0921 \u0935\u0948\u0932\u094d\u092f\u0942, \u091f\u094d\u0930\u0947\u0921\u092e\u093e\u0930\u094d\u0915, \u0915\u0949\u092a\u0940\u0930\u093e\u0907\u091f, \u092a\u0947\u091f\u0947\u0902\u091f, \u0917\u094d\u0930\u093e\u0939\u0915\u094b\u0902 \u0915\u0940 \u0932\u093f\u0938\u094d\u091f, \u092b\u094d\u0930\u0947\u0902\u091a\u093e\u0907\u091c\u0940 \u0906\u0926\u093f \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948\u0902\u0964", "\u0915\u093f\u0938\u0940 \u092d\u0940 \u090f\u0938\u0947\u091f \u0915\u0940 \u0938\u092c\u0938\u0947 \u0916\u093e\u0938 \u092c\u093e\u0924 \u092f\u0939 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u093f \u0909\u092a\u092f\u094b\u0917 \u0915\u0940 \u0938\u092e\u092f \u0905\u0935\u0927\u093f \u092c\u0922\u093c\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925-\u0938\u093e\u0925 \u0935\u0939 \u090f\u0938\u0947\u091f \u0921\u0947\u092a\u094d\u0930\u093f\u0936\u093f\u090f\u091f \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0939\u0930 \u090f\u0938\u0947\u091f \u0915\u0947 \u0909\u092a\u092f\u094b\u0917 \u0915\u0940 \u0938\u092e\u092f \u0905\u0935\u0927\u093f \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u0915\u093f\u0938\u0940 \u0932\u0948\u092a\u091f\u0949\u092a \u0915\u0947 \u0932\u093f\u090f \u092f\u0947 \u0905\u0935\u0927\u093f 4 \u0938\u093e\u0932 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0915\u093f\u0938\u0940 \u090f\u0938\u0947\u091f \u0915\u093e \u0909\u092a\u092f\u094b\u0917\u0940 \u0938\u092e\u092f \u0935\u0939 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0924\u0915 \u0935\u0939 \u090f\u0938\u0947\u091f \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0932\u093f\u090f \u092e\u0942\u0932\u094d\u092f\u0935\u093e\u0928 \u0939\u094b\u0964 \u0907\u0938\u0915\u094b \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0938\u094d\u091f\u0949\u0915 \u092c\u094d\u0930\u094b\u0915\u093f\u0902\u0917 \u092b\u0930\u094d\u092e \u091c\u093c\u0947\u0930\u094b\u0927\u093e \u0928\u0947 \u0915\u0941\u0932 \u20b9100000 \u0915\u0940 \u0915\u092e\u093e\u0908 \u0915\u0940\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0940 \u0926\u094c\u0930\u093e\u0928 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u090f\u0915 \u092c\u0921\u093c\u093e \u0915\u0902\u092a\u094d\u092f\u0942\u091f\u0930 \u0938\u0930\u094d\u0935\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u20b965000 \u0916\u0930\u094d\u091a \u0915\u0930 \u0926\u093f\u090f\u0964 \u0907\u0938 \u0915\u0902\u092a\u094d\u092f\u0942\u091f\u0930 \u0938\u0930\u094d\u0935\u0930\u00a0 \u0915\u093e \u0909\u092a\u092f\u094b\u0917\u0940 \u0938\u092e\u092f 5 \u0938\u093e\u0932 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u0906\u092a \u0905\u0917\u0930 \u091c\u093c\u0947\u0930\u094b\u0927\u093e \u0915\u0947 \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u0940 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u20b9100000 \u0915\u092e\u093e\u090f \u0914\u0930 \u0926\u0942\u0938\u0930\u0940 \u0924\u0930\u092b \u20b965000 \u0916\u0930\u094d\u091a \u0915\u0930 \u0926\u093f\u090f\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u0938\u093f\u0930\u094d\u092b\u00a0 \u20b935000 \u0915\u0940 \u0915\u092e\u093e\u0908 \u0930\u0939 \u0917\u092f\u0940\u0964 \u0932\u0947\u0915\u093f\u0928 \u092f\u0947 \u0906\u0902\u0915\u0921\u093c\u0947 \u0938\u0939\u0940 \u0924\u0938\u094d\u0935\u0940\u0930 \u0928\u0939\u0940\u0902 \u092c\u0924\u093e \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "\u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u092f\u0939 \u090f\u0938\u0947\u091f (\u0915\u092e\u094d\u092a\u094d\u092f\u0942\u091f\u0930 \u0938\u0930\u094d\u0935\u0930) \u092d\u0932\u0947 \u0939\u0940 \u0907\u0938 \u0938\u093e\u0932 \u0916\u0930\u0940\u0926\u093e \u0917\u092f\u093e \u0939\u094b, \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917\u0940 \u0938\u092e\u092f \u0905\u0917\u0932\u0947 5 \u0938\u093e\u0932 \u0924\u0915 \u0915\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u092f\u0939 \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0907\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u0905\u0917\u0932\u0947 5 \u0938\u093e\u0932 \u0924\u0915 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f \u0926\u093f\u092f\u093e \u091c\u093e\u090f \u092f\u093e\u0928\u0940 \u0915\u0902\u092a\u0928\u0940 \u090f\u0915 \u092c\u093e\u0930 \u092c\u0921\u093c\u093e \u0916\u0930\u094d\u091a\u093e \u0926\u093f\u0916\u093e\u0928\u0947 \u0915\u0947 \u092c\u091c\u093e\u092f 5 \u0938\u093e\u0932 \u0924\u0915 \u091b\u094b\u091f\u0947-\u091b\u094b\u091f\u0947 \u0916\u0930\u094d\u091a \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0907\u0938 \u0916\u0930\u094d\u091a \u0915\u094b \u0926\u093f\u0916\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u20b965000 \u0915\u094b 5 \u0938\u093e\u0932 \u092e\u0947\u0902 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u093e \u091c\u093e\u090f\u0917\u093e \u0914\u0930 \u092b\u093f\u0930 65000 /5 = \u20b913000\u00a0 \u0939\u0930 \u0938\u093e\u0932 \u0921\u093f\u092a\u094d\u0930\u0947\u0936\u093f\u090f\u091f \u0939\u094b\u0902\u0917\u0947\u0964 \u0907\u0938 \u0921\u093f\u092a\u094d\u0930\u0947\u0936\u093f\u090f\u0936\u0928 \u0915\u094b \u0926\u093f\u0916\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0905\u092c \u091c\u093c\u0947\u0930\u094b\u0927\u093e \u0915\u0940 \u0915\u092e\u093e\u0908 \u0939\u094b\u0917\u0940 \u20b9100000 \u2013 \u20b913000 = \u20b987000", "\u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u092d\u0940 \u0906\u0902\u0915\u093e \u091c\u093e\u0924\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0935\u0939\u093e\u0902 \u092a\u0930 \u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0915\u094b \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0928\u0939\u0940\u0902 \u092c\u0932\u094d\u0915\u093f \u0905\u092e\u0949\u0930\u091f\u093e\u0907\u091c\u0947\u0936\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u092c \u092f\u0939\u093e\u0902 \u092a\u0930 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u091c\u0930\u0942\u0930\u0940 \u092c\u093e\u0924 \u0939\u0948 \u091c\u093f\u0938\u0947 \u0906\u092a \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u091c\u093c\u0947\u0930\u094b\u0927\u093e \u0928\u0947 \u0905\u092a\u0928\u0947 \u0938\u0930\u094d\u0935\u0930 \u0915\u094b 5 \u0938\u093e\u0932 \u0924\u0915 \u0915\u0947 \u0932\u093f\u090f \u0921\u0947\u092a\u094d\u0930\u0947\u0936\u093f\u090f\u091f \u0915\u0930 \u0926\u093f\u092f\u093e \u0914\u0930 \u0915\u0940\u092e\u0924 \u0915\u094b 5 \u0938\u093e\u0932 \u0924\u0915 \u092c\u093e\u0902\u091f \u0924\u094b \u0926\u093f\u092f\u093e, \u0932\u0947\u0915\u093f\u0928 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0924\u094b \u20b965000 \u0916\u0930\u094d\u091a \u0915\u093f\u090f\u0964 \u0905\u092c \u0916\u0930\u094d\u091a \u0915\u093e \u092f\u0939 \u0906\u0902\u0915\u0921\u093c\u093e P&L \u092e\u0947\u0902 \u0915\u0939\u093e\u0902 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0917\u093e? \u090f\u0915 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u094d\u091f \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0939\u092e\u0947\u0902 \u0907\u0938\u0915\u093e \u092a\u0924\u093e \u0915\u0948\u0938\u0947 \u091a\u0932\u0947\u0917\u093e \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u0948\u0938\u0947 \u0915\u0939\u093e\u0902 \u0917\u090f? \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u0907\u0938\u0915\u094b \u0939\u092e \u0906\u0917\u0947 \u0915\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964 \u0905\u092d\u0940 \u0928\u094b\u091f 23 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f \u091c\u0939\u093e\u0902 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "P&L \u0915\u0947 \u0916\u0930\u094d\u091a \u0935\u093e\u0932\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u0905\u0902\u0924\u093f\u092e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 -\u0905\u0928\u094d\u092f \u090f\u0915\u094d\u0938\u092a\u0947\u0902\u0938\u0947\u0938 (Other Expenses) \u092f\u093e\u0928\u0940 \u0905\u0928\u094d\u092f \u0916\u0930\u094d\u091a \u0915\u093e, \u091c\u094b \u0915\u093f 434.6 \u0915\u0930\u094b\u0921\u093c \u0939\u0948\u0964 \u092f\u0939 \u090f\u0915 \u092c\u0939\u0941\u0924 \u092c\u0921\u093c\u0940 \u0930\u0915\u092e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0915\u094b \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0926\u0947\u0916\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964", "", "", "\u0907\u0938 \u0928\u094b\u091f \u0938\u0947 \u092f\u0939 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u0905\u0926\u0930 \u090f\u0915\u094d\u0938\u092a\u0947\u0902\u0938 \u092e\u0947\u0902 \u0909\u0924\u094d\u092a\u093e\u0926\u0928, \u092c\u093f\u0915\u094d\u0930\u0940, \u092a\u094d\u0930\u0936\u093e\u0938\u0928\u093f\u0915 \u0914\u0930 \u0926\u0942\u0938\u0930\u0947 \u0916\u0930\u094d\u091a\u0947 \u0936\u093e\u092e\u093f\u0932 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092f\u0939\u093e\u0902 \u0928\u093e\u092e \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u092e\u093e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940\u091c \u0928\u0947 27.5 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0935\u093f\u091c\u094d\u091e\u093e\u092a\u0928 \u0914\u0930 \u092a\u094d\u0930\u092e\u094b\u0936\u0928 \u092a\u0930 \u0916\u0930\u094d\u091a \u0915\u093f\u090f \u0939\u0948\u0902\u0964", "\u0907\u0928 \u0938\u092c \u0915\u094b \u091c\u094b\u0921\u093c\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f \u0905\u092e\u093e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940 \u0915\u0947 P&L \u092e\u0947\u0902 \u0916\u0930\u094d\u091a \u0915\u0947 \u0924\u0930\u092b \u0915\u0941\u0932 2941.6 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0916\u0930\u094d\u091a \u0939\u0948\u0964", "\u091c\u092c \u0915\u092e\u093e\u0908 \u092e\u0947\u0902 \u0938\u0947 \u0916\u0930\u094d\u091a\u0947 \u0928\u093f\u0915\u093e\u0932 \u0926\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0932\u0947\u0915\u093f\u0928 \u091f\u0948\u0915\u094d\u0938 \u0914\u0930 \u092c\u094d\u092f\u093e\u091c \u0915\u0940 \u0926\u0947\u0928\u0926\u093e\u0930\u0940 \u0909\u0938\u092e\u0947\u0902 \u0936\u093e\u092e\u093f\u0932 \u0939\u094b\u0924\u0940 \u0939\u0948 \u092f\u093e\u0928\u0940 \u092f\u0939 \u0926\u094b\u0928\u094b\u0902 \u0905\u0926\u093e \u0928\u0939\u0940\u0902 \u0915\u093f\u090f \u0917\u090f \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0907\u0938 \u092e\u0941\u0928\u093e\u092b\u0947 \u0915\u094b \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u092c\u093f\u092b\u094b\u0930 \u091f\u0948\u0915\u094d\u0938 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u090a\u092a\u0930 \u0926\u093f\u090f \u0917\u090f P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u092a\u0930 \u0939\u092e\u0947\u0902 \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f ARBL \u0928\u0947 \u0905\u092a\u0928\u0947 PBT \u092f\u093e\u0928\u0940 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u092c\u093f\u092b\u094b\u0930 \u091f\u0948\u0915\u094d\u0938 \u0914\u0930 \u090f\u0915\u094d\u0938\u0947\u092a\u094d\u0936\u0928\u0932 \u0906\u0907\u091f\u092e (Profit before tax and Exceptional item numbers) \u0915\u0947 \u0906\u0902\u0915\u0921\u093c\u0947 \u0926\u093f\u090f \u0939\u0948\u0902\u0964", "\u0938\u0930\u0932 \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e PBT \u092f\u093e\u0928\u0940 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u092c\u093f\u092b\u094b\u0930 \u091f\u0948\u0915\u094d\u0938 \u0939\u0948:", "PBT \u092f\u093e\u0928\u0940 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u092c\u093f\u092b\u094b\u0930 \u091f\u0948\u0915\u094d\u0938 = \u0915\u0941\u0932 \u0906\u092e\u0926\u0928\u0940 \u2013 \u0915\u0941\u0932 \u0911\u092a\u0930\u0947\u091f\u093f\u0902\u0917 \u0916\u0930\u094d\u091a", "= 3482 \u2013 2941.6", "= Rs 540.5 \u0915\u0930\u094b\u0921\u093c", "\u0932\u0947\u0915\u093f\u0928 \u092f\u0939\u093e\u0902 \u092a\u0930 \u090f\u0915 \u090f\u0915\u094d\u0938\u094d\u091f\u094d\u0930\u093e \u0911\u0930\u094d\u0921\u093f\u0928\u0930\u0940/\u090f\u0915\u094d\u0938\u0947\u092a\u094d\u0936\u0928\u0932 \u0906\u0907\u091f\u092e (Extraordinary item/Exceptional item) \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u091c\u094b \u0915\u093f 3.8 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 \u0907\u0938 \u0930\u0915\u092e \u092e\u0947\u0902 \u0938\u0947 \u0918\u091f\u093e\u092f\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u0910\u0938\u0947 \u0916\u0930\u094d\u091a \u0935\u0939 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u090f\u0915 \u092c\u093e\u0930 \u0915\u093f\u0938\u0940 \u0916\u093e\u0938 \u0935\u091c\u0939 \u0938\u0947 \u0915\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0915\u0902\u092a\u0928\u0940 \u092e\u093e\u0928\u0924\u0940 \u0939\u0948 \u0915\u093f \u092f\u0939 \u0916\u0930\u094d\u091a\u0947 \u0905\u0917\u0932\u0940 \u092c\u093e\u0930 \u092f\u093e \u092c\u093e\u0930-\u092c\u093e\u0930 \u0928\u0939\u0940\u0902 \u0939\u094b\u0902\u0917\u0947\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0907\u0928\u0915\u094b P&L \u092e\u0947\u0902 \u0905\u0932\u0917 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u0932\u093f\u090f \u0905\u092c \u0928\u092f\u093e PBT \u092f\u093e\u0928\u0940 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u092c\u093f\u092b\u094b\u0930 \u091f\u0948\u0915\u094d\u0938 \u0939\u0948", "540.5 \u2013 3.88", "= Rs 536.6 \u0915\u0930\u094b\u0921\u093c", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 ARBL \u0915\u0947 P&L \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0915\u0940 PBT \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948:", "", "\u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0915\u0941\u0932 \u0915\u092e\u093e\u0908 \u092e\u0947\u0902 \u0938\u0947 \u091f\u0948\u0915\u094d\u0938 \u092d\u0940 \u0918\u091f\u093e \u0926\u0947\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u091c\u094b \u0930\u0915\u092e \u0938\u093e\u092e\u0928\u0947 \u0906\u0924\u0940 \u0939\u0948 \u0909\u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0911\u092a\u0930\u0947\u091f\u093f\u0902\u0917 \u092a\u094d\u0930\u0949\u092b\u093f\u091f (Operating profit\u00a0) \u092f\u093e \u0928\u0947\u091f \u0911\u092a\u0930\u0947\u091f\u093f\u0902\u0917 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u0906\u092b\u094d\u091f\u0930 \u091f\u0948\u0915\u094d\u0938 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0915\u093f\u0938\u0940 \u092d\u0940 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u093e \u0905\u0902\u0924\u093f\u092e \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u0906\u092b\u094d\u091f\u0930 \u091f\u0948\u0915\u094d\u0938 \u0915\u094b \u0939\u0940 P&L \u0915\u0940 \u092c\u0949\u091f\u092e\u0932\u093e\u0907\u0928 (Bottom line) \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u090a\u092a\u0930 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f PAT \u092f\u093e\u0928\u0940 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u0906\u092b\u094d\u091f\u0930 \u091f\u0948\u0915\u094d\u0938 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u0938\u092d\u0940 \u0924\u0930\u0939 \u0915\u0947 \u091f\u0948\u0915\u094d\u0938 \u0916\u0930\u094d\u091a \u0915\u094b PBT \u092e\u0947\u0902 \u0938\u0947 \u0928\u093f\u0915\u093e\u0932\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u0915\u0930\u0947\u0902\u091f \u091f\u0948\u0915\u094d\u0938 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u091f \u091f\u0948\u0915\u094d\u0938 \u091c\u094b \u0907\u0938 \u0938\u093e\u0932 \u0905\u0926\u093e \u0915\u093f\u092f\u093e \u091c\u093e\u0928\u093e \u0939\u0948\u0964 \u092f\u0939 \u0930\u0915\u092e 158 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u092f\u0939\u093e\u0902 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0926\u0942\u0938\u0930\u0947 \u091f\u0948\u0915\u094d\u0938 \u092d\u0940 \u092c\u0924\u093e\u090f \u0939\u0948\u0902\u0964 \u0938\u093e\u0930\u0947 \u091f\u0948\u0915\u094d\u0938 \u092e\u093f\u0932\u093e\u0915\u0930 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 169.1 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u091f\u0948\u0915\u094d\u0938 \u0926\u093f\u092f\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 PBT \u092f\u093e\u0928\u0940 536.6 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u092e\u0947\u0902 \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e 169.2 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u091f\u0948\u0915\u094d\u0938 \u0918\u091f\u093e \u0926\u093f\u092f\u093e \u091c\u093e\u090f \u0924\u094b PAT \u0915\u0940 \u0930\u0915\u092e \u0906\u0924\u0940 \u0939\u0948 367.4 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947", "\u092e\u0924\u0932\u092c \u0915\u0941\u0932 PAT = PBT \u2013 \u091f\u0948\u0915\u094d\u0938", "\u0915\u093f\u0938\u0940 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u0947 \u0905\u0902\u0924\u093f\u092e \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0908\u092a\u0940\u090f\u0938 (EPS), \u091c\u094b \u0915\u093f \u0921\u093e\u0907\u0932\u094d\u092f\u0942\u091f\u0947\u0921 (Diluted) \u0914\u0930 \u092c\u0947\u0938\u093f\u0915 \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u0940\u0915\u094b\u0902 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0915\u093f\u0938\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0915\u0947 \u0932\u093f\u090f \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e EPS \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 EPS \u0926\u0947\u0916 \u0915\u0930 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0921\u093e\u092f\u0930\u0947\u0915\u094d\u091f\u0930 \u0914\u0930 \u092e\u0948\u0928\u0947\u091c\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0915\u0948\u0938\u0947 \u091a\u0932\u093e \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 EPS \u0915\u093e \u0905\u0930\u094d\u0925 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0928\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0939\u0930 \u0936\u0947\u092f\u0930 \u092a\u0930 \u0915\u093f\u0924\u0928\u0947 \u092a\u0948\u0938\u0947 \u0915\u092e\u093e \u0915\u0930 \u0926\u093f\u090f \u0939\u0948\u0902\u0964 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f ARBL \u0915\u0947 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0928\u0947 \u0939\u0930 \u0936\u0947\u092f\u0930 \u092a\u0930 21 \u0915\u092e\u093e \u0915\u0930 \u0926\u093f\u090f \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u0940 \u0917\u0923\u0928\u093e \u0928\u0940\u091a\u0947 \u092a\u0930 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0926\u093f\u0916 \u0930\u0939\u0940 \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u092f\u0939\u093e\u0902 \u092c\u0924\u093e\u092f\u093e \u0939\u0948 \u0915\u093f \u0909\u0938\u0915\u0947 \u092a\u093e\u0938 17,08,12,500 \u0936\u0947\u092f\u0930 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u094b \u0905\u0917\u0930 PAT\u00a0 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u0947 \u0935\u093f\u092d\u093e\u091c\u093f\u0924 \u0915\u093f\u092f\u093e \u091c\u093e\u090f \u0924\u094b \u0939\u092e\u0947\u0902 EPS \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u092e\u093f\u0932\u0924\u0940 \u0939\u0948\u0964", "\u0907\u0938 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902", "367.4 \u0915\u0930\u094b\u0921\u093c \u0915\u094b \u0935\u093f\u092d\u093e\u091c\u093f\u0924 \u0915\u093f\u092f\u093e \u091c\u093e\u090f\u0917\u093e 17,08,12,500 \u0938\u0947 \u091c\u093f\u0938 \u0938\u0947 \u0906\u090f\u0917\u093e 21.5 \u0930\u0942\u092a\u092f\u0947 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930", "\u0905\u092c \u0939\u092e \u090f\u0915 \u092c\u093e\u0930 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u090f\u0915 \u0928\u091c\u0930 \u092e\u0947\u0902 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f \u0905\u092c \u0906\u092a\u0915\u094b \u092f\u0939 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u091c\u094d\u092f\u093e\u0926\u093e \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u0938\u092e\u091d \u092e\u0947\u0902 \u0906 \u0930\u0939\u093e \u0939\u094b\u0917\u093e\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u0939\u0930 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0915\u0947 \u0938\u093e\u0925 \u090f\u0915 \u0928\u094b\u091f \u091c\u0941\u0921\u093c\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u0906\u092a \u0909\u0938 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0915\u094b \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0909\u0938 \u0928\u094b\u091f \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0935\u0948\u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092b\u0948\u0938\u0932\u094b\u0902 \u092e\u0947\u0902 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0907\u0928 \u0906\u0902\u0915\u0921\u093c\u0947 \u0915\u0940 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092f\u093e\u0928\u0940 \u0935\u093f\u0936\u094d\u0932\u0947\u0937\u0923 \u0905\u092d\u0940 \u092d\u0940 \u0915\u0930\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u092f\u0947 \u0915\u0948\u0938\u0947 \u0915\u0930\u0947\u0902 \u0907\u0938\u0947 \u0939\u092e \u0924\u092c \u0938\u092e\u091d\u0947\u0902\u0917\u0947 \u091c\u092c \u0939\u092e \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0930\u0947\u0936\u094d\u092f\u094b \u0915\u0940 \u092c\u093e\u0924 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u0947 \u0938\u093e\u0925 \u0926\u094b \u0914\u0930 \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u091c\u0941\u0921\u093c\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902-\u00a0 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0914\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0964 \u0906\u0917\u0947 \u0939\u092e \u0907\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "Gazab\u2026\nThanks from BIHAR", "Hi \u092d\u093e\u0935\u0947\u0936, \u0906\u092a\u0915\u0940 \u0938\u0939\u093e\u092f\u0924\u093e \u0915\u0930 \u092a\u093e\u0928\u093e \u0939\u092e\u093e\u0930\u093e \u0938\u094c\u092d\u093e\u0917\u094d\u092f \u0939\u0948\u0964 \ud83d\ude42", "Jo dividend share holders ko miltaa hai wo kha s deducte hota hai?", "\u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u090f\u0915 \u0915\u0902\u092a\u0928\u0940 \u0926\u094d\u0935\u093e\u0930\u093e \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u0905\u092a\u0928\u0947 \u0932\u093e\u092d \u0915\u093e \u092d\u0941\u0917\u0924\u093e\u0928 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948, \u091c\u094b \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092e\u0941\u0928\u093e\u092b\u0947 \u0915\u0947 \u0935\u093f\u0924\u0930\u0923 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u091c\u092c \u0915\u094b\u0908 \u0915\u0902\u092a\u0928\u0940 \u0932\u093e\u092d \u092f\u093e \u0905\u0927\u093f\u0936\u0947\u0937 \u0905\u0930\u094d\u091c\u093f\u0924 \u0915\u0930\u0924\u0940 \u0939\u0948, \u0924\u094b \u0915\u0902\u092a\u0928\u0940 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b \u0921\u093f\u0935\u093f\u0921\u0947\u0902\u0921 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0932\u093e\u092d \u0915\u093e \u0905\u0928\u0941\u092a\u093e\u0924 \u0926\u0947\u0924\u0940 \u0939\u0948\u0964", "Thanks", "Good information but need to more clarify about the relationship between share and profite margine of company..how to share increase or decrease when profite ratios. ITC profitable but share decreased", "There are few online screeners that you can check for this \u2013 Tijori Finance and Screener are two good resources.", "Hi Rakesh, \u0939\u092e \u0906\u092a\u0915\u0947 \u092b\u0940\u0921\u092c\u0948\u0915 \u092a\u0930 \u0928\u095b\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947\u0964", "thanks for giving new knowledge .", "Happy Learning \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-title2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart6.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart7.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart8.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart9.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart10.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch5-chart11.jpg", "https://secure.gravatar.com/avatar/f0aa2d0b58339801b0fb34b97577824d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5a6805ae5258954c4ccc8d76197debc9?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/32664e0290bb823f7ad01790d40db636?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/51da8d36e29bba0899255f79adf898cc?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/79cbee7f8349133ee04fd7dafe806db8?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "14. DCF \u0915\u093e \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924", "text": ["\u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u0947 \u092a\u0939\u0932\u0947 \u0926\u094b \u091a\u0930\u0923\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u093e\u0964 \u092a\u0939\u0932\u093e \u091a\u0930\u0923 \u091c\u0939\u093e\u0902 \u0939\u092e\u0928\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u093f\u091c\u0928\u0947\u0938 \u0915\u094b \u0914\u0930 \u0926\u0942\u0938\u0930\u093e \u091a\u0930\u0923 \u091c\u0939\u093e\u0902 \u0939\u092e\u0928\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u092a\u0930\u092b\u0949\u0930\u094d\u092e\u0947\u0902\u0938 \u092f\u093e\u0928\u0940 \u092a\u094d\u0930\u0926\u0930\u094d\u0936\u0928 \u0915\u094b \u0926\u0947\u0916\u093e\u0964 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u093e \u0924\u0940\u0938\u0930\u093e \u091a\u0930\u0923 \u0939\u0948, \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0935\u0948\u0932\u094d\u092f\u0942\u090f\u0936\u0928 \u092a\u0924\u093e \u0915\u0930\u0928\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u092f\u0939 \u0924\u092d\u0940 \u0915\u093f\u092f\u093e \u091c\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u091c\u092c \u0906\u092a \u092a\u0939\u0932\u0947 \u0926\u094b \u091a\u0930\u0923\u094b\u0902 \u0915\u0947 \u092c\u093e\u0926 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u093f\u091c\u0928\u0947\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0906\u0936\u094d\u0935\u0938\u094d\u0924 \u0939\u094b\u0902\u0964", "\u090f\u0915 \u0928\u093f\u0935\u0947\u0936 \u0905\u091a\u094d\u091b\u093e \u0928\u093f\u0935\u0947\u0936 \u0924\u092d\u0940 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u092c \u0906\u092a \u0909\u0938 \u092c\u093f\u091c\u0928\u0947\u0938 \u0915\u0947 \u0932\u093f\u090f \u0938\u0939\u0940 \u0915\u0940\u092e\u0924 \u0905\u0926\u093e \u0915\u0930\u0947\u0902 \u092f\u093e\u0928\u0940 \u0906\u092a\u0915\u094b \u0935\u0939 \u0936\u0947\u092f\u0930 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092e\u093f\u0932\u0947\u0964 \u0915\u0908 \u092c\u093e\u0930 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u091c\u093e\u092f \u090f\u0915 \u092e\u0927\u094d\u092f\u092e \u0926\u0930\u094d\u091c\u0947 \u0915\u0940 \u0915\u0902\u092a\u0928\u0940 \u092d\u0940 \u0905\u0917\u0930 \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092e\u093f\u0932\u0947 \u0924\u094b \u092f\u0939 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u0939 \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u093e \u0928\u093f\u0935\u0947\u0936 \u0939\u0948\u0964 \u0915\u0939\u0928\u0947 \u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0948 \u0915\u093f \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u092c\u0939\u0941\u0924 \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092d\u0942\u092e\u093f\u0915\u093e \u0905\u0926\u093e \u0915\u0930\u0924\u0940 \u0939\u0948\u0964", "\u0905\u0917\u0932\u0947 \u0926\u094b \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u092e\u0947\u0902 \u0939\u092e \u092f\u0939\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902\u0917\u0947 \u0915\u093f \u0906\u092a\u0915\u094b \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u094d\u092f\u093e\u0926\u093e \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0924\u093e\u092f\u093e \u091c\u093e \u0938\u0915\u0947\u0964 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u0935\u0948\u0932\u094d\u092f\u0942\u090f\u0936\u0928 \u0924\u0915\u0928\u0940\u0915 \u0938\u0947 \u092a\u0924\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0935\u0948\u0932\u094d\u092f\u0942\u090f\u0936\u0928 \u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0948 \u092a\u0924\u093e \u0915\u093f \u092f\u0939 \u092a\u0924\u093e \u0915\u0930\u0928\u093e \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0935\u093e\u0938\u094d\u0924\u0935\u093f\u0915 \u0915\u0940\u092e\u0924 \u0915\u094d\u092f\u093e \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f? \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0935\u0948\u0932\u094d\u092f\u0942\u090f\u0936\u0928 \u092a\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e \u091c\u093f\u0938 \u0924\u0915\u0928\u0940\u0915 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0947\u0902\u0917\u0947 \u0909\u0938\u0947 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f\u0947\u0921 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b (DCF) \u0964 \u0907\u0938 \u0924\u0915\u0928\u0940\u0915 \u092e\u0947\u0902 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u0928\u091c\u0930\u093f\u090f \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0938\u0939\u0940 \u0915\u0940\u092e\u0924 \u0915\u093e \u0905\u0902\u0926\u093e\u091c\u093e \u0932\u0917\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "DCF \u092e\u0949\u0921\u0932 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u094b \u0906\u092a\u0938 \u092e\u0947\u0902 \u090f\u0915 \u0926\u0942\u0938\u0930\u0947 \u0938\u0947 \u091c\u094b\u0921\u093c\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0939\u092e\u0947\u0902 \u0907\u0928 \u0938\u093e\u0930\u0947 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924\u094b\u0902 \u0915\u094b \u0905\u0932\u0917-\u0905\u0932\u0917 \u0938\u092e\u091d\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e \u0914\u0930 \u092b\u093f\u0930 \u0909\u0938\u0915\u094b DCF \u0915\u0947 \u0928\u091c\u0930\u093f\u090f \u0938\u0947 \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u0916\u093e\u0938 \u0915\u0930\u0915\u0947 DCF \u0915\u0947 \u0938\u092c\u0938\u0947 \u092e\u0942\u0932 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u092f\u093e\u0928\u0940 \u0928\u0947\u091f \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 (NPV) \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0939\u092e \u0926\u0942\u0938\u0930\u0947 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924\u094b\u0902 \u092a\u0930 \u091c\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u0905\u0902\u0924 \u092e\u0947\u0902 DCF \u0915\u094b \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964", "DCF \u092e\u0949\u0921\u0932 \u0915\u093e \u0906\u0927\u093e\u0930 \u0939\u0948 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b\u0964 \u0907\u0938\u0915\u094b \u0939\u092e \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902:", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0935\u093f\u0936\u093e\u0932 \u0928\u093e\u092e \u0915\u093e \u090f\u0915 \u092a\u093f\u091c\u093c\u094d\u091c\u093c\u093e \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948 \u091c\u094b \u0936\u0939\u0930 \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u092a\u093f\u091c\u093c\u094d\u091c\u093c\u093e \u092c\u0928\u093e\u0924\u093e \u0939\u0948\u0964 \u092a\u093f\u091c\u093c\u094d\u091c\u093c\u093e \u092c\u0928\u093e\u0928\u093e \u0909\u0938\u0947 \u0907\u0924\u0928\u093e \u0905\u091a\u094d\u091b\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0909\u0938\u0928\u0947 \u090f\u0915 \u0928\u092f\u093e \u0906\u0935\u093f\u0937\u094d\u0915\u093e\u0930 \u0915\u0930 \u0926\u093f\u092f\u093e\u2013 \u090f\u0915 \u0911\u091f\u094b\u092e\u0947\u091f\u093f\u0915 \u092a\u093f\u091c\u093c\u094d\u091c\u093c\u093e \u092e\u0947\u0915\u0930\u0964 \u0907\u0938 \u092a\u093f\u091c\u093c\u094d\u091c\u093c\u093e \u092e\u0947\u0915\u0930 \u092e\u0947\u0902 \u0938\u093e\u0930\u0940 \u091c\u0930\u0942\u0930\u0924 \u0915\u0940 \u091a\u0940\u091c\u0947\u0902 \u0921\u093e\u0932 \u0926\u0947\u0928\u0947 \u092a\u0930 \u0905\u092a\u0928\u0947 \u0906\u092a 5 \u092e\u093f\u0928\u091f \u092e\u0947\u0902 \u092a\u093f\u091c\u093c\u094d\u091c\u093c\u093e \u092c\u0928\u0915\u0930 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932 \u0906\u0924\u093e \u0939\u0948\u0964 \u0935\u093f\u0936\u093e\u0932 \u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0907\u0938 \u092a\u093f\u091c\u094d\u091c\u093e \u092e\u0936\u0940\u0928 \u0938\u0947 1 \u0938\u093e\u0932 \u092e\u0947\u0902 \u20b9500000 \u0915\u0940 \u0906\u092e\u0926\u0928\u0940 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u092e\u0936\u0940\u0928 \u0905\u0917\u0932\u0947 10 \u0938\u093e\u0932 \u0924\u0915 \u091a\u0932 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0935\u093f\u0936\u093e\u0932 \u0915\u0947 \u0926\u094b\u0938\u094d\u0924 \u091c\u0949\u0930\u094d\u091c \u0915\u094b \u0935\u093f\u0936\u093e\u0932 \u0915\u0940 \u092e\u0936\u0940\u0928 \u092c\u0939\u0941\u0924 \u092a\u0938\u0902\u0926 \u0906\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0935\u0939 \u0909\u0938\u0947 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0935\u093f\u0936\u093e\u0932 \u0915\u094b \u090f\u0915 \u0911\u092b\u0930 \u0926\u0947\u0924\u093e \u0939\u0948\u0964", "\u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u091c\u0949\u0930\u094d\u091c \u0915\u094b \u0935\u093f\u0936\u093e\u0932 \u0915\u094b \u092e\u0936\u0940\u0928 \u0915\u0940 \u0915\u094d\u092f\u093e \u0915\u0940\u092e\u0924 \u0926\u0947\u0928\u0940 \u091a\u093e\u0939\u093f\u090f? \u0907\u0938 \u0938\u0935\u093e\u0932 \u0915\u093e \u091c\u0935\u093e\u092c \u0922\u0942\u0902\u0922\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u092f\u0939 \u0938\u092e\u091d\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u091c\u0949\u0930\u094d\u091c \u0915\u094b \u0907\u0938 \u092e\u0936\u0940\u0928 \u0938\u0947 \u0915\u093f\u0924\u0928\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0935\u094b \u0907\u0938 \u092e\u0936\u0940\u0928 \u0938\u0947 \u0905\u0917\u0932\u0947 10 \u0938\u093e\u0932 \u0924\u0915 \u0939\u0930 \u0938\u093e\u0932 \u20b9500000 \u0915\u092e\u093e\u0924\u093e \u0939\u0948\u0964", "\u0905\u092c \u091c\u0949\u0930\u094d\u091c \u0915\u093e \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0948\u0938\u093e \u0926\u093f\u0916\u0947\u0917\u093e:", "\u0924\u094b \u0939\u092e \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f 2015 \u0938\u0947 \u0905\u0917\u0932\u0947 10 \u0938\u093e\u0932\u094b\u0902 \u0924\u0915 \u091c\u0949\u0930\u094d\u091c \u0915\u094b \u092e\u0936\u0940\u0928 \u0938\u0947 \u0915\u0948\u0936 \u092e\u093f\u0932\u0924\u093e \u0930\u0939\u0947\u0917\u093e\u0964", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u091c\u0949\u0930\u094d\u091c \u0915\u094b \u0905\u0917\u0932\u0947 10 \u0938\u093e\u0932\u094b\u0902 \u092e\u0947\u0902 \u092e\u0936\u0940\u0928 \u0938\u0947\u00a0 \u20b950,00,000 \u0915\u0940 \u0915\u092e\u093e\u0908 \u0939\u094b\u0917\u0940 \u092f\u093e\u0928\u0940 \u0935\u094b \u092e\u0936\u0940\u0928 \u0915\u0947 \u0932\u093f\u090f \u20b950,00,000 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0940 \u0915\u0940\u092e\u0924 \u0928\u0939\u0940\u0902 \u0926\u0947 \u0938\u0915\u0924\u093e\u0964 \u0939\u092e \u0915\u093f\u0938\u0940 \u092d\u0940 \u091a\u0940\u091c \u0915\u0947 \u0932\u093f\u090f \u0935\u0939 \u0915\u0940\u092e\u0924 \u0928\u0939\u0940\u0902 \u0926\u0947 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u0909\u0938\u0938\u0947 \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u0947 \u092b\u093e\u092f\u0926\u0947 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0964", "\u0905\u092c \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0935\u093f\u0936\u093e\u0932 \u0928\u0947 \u091c\u0949\u0930\u094d\u091c \u0938\u0947 \u092e\u0936\u0940\u0928 \u0915\u0947 \u0932\u093f\u090f \u20b9X\u00a0 \u092e\u093e\u0902\u0917\u0947\u0964 \u0905\u092c \u091c\u0949\u0930\u094d\u091c \u0915\u0947 \u0938\u093e\u092e\u0928\u0947 \u0926\u094b \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u0948\u0902 \u092f\u093e \u0924\u094b \u0935\u0939 \u092e\u093e\u0902\u0917\u0947 \u0917\u090f \u20b9 X \u0926\u0947 \u0926\u0947 \u0914\u0930 \u092e\u0936\u0940\u0928 \u0916\u0930\u0940\u0926 \u0932\u0947 \u092f\u093e \u092b\u093f\u0930 \u0909\u0928 \u0930\u0941\u092a\u092f\u094b\u0902 \u0915\u094b \u090f\u0915 \u092b\u093f\u0915\u094d\u0938 \u0921\u093f\u092a\u0949\u091c\u093f\u091f \u0938\u094d\u0915\u0940\u092e \u092e\u0947\u0902 \u0921\u093e\u0932 \u0926\u0947 \u091c\u0939\u093e\u0902 \u092a\u0930 \u0909\u0938\u0947 \u092a\u0948\u0938\u0947 \u0924\u094b \u0935\u093e\u092a\u0938 \u092e\u093f\u0932\u0947\u0902\u0917\u0947 \u0939\u0940 \u0938\u093e\u0925 \u092e\u0947\u0902 8.5% \u0915\u093e \u092c\u094d\u092f\u093e\u091c \u092d\u0940 \u092e\u093f\u0932\u0947\u0917\u093e\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u091c\u0949\u0930\u094d\u091c \u0928\u0947 \u092e\u0936\u0940\u0928 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u093f\u092f\u093e \u0924\u094b \u092b\u093f\u0915\u094d\u0938 \u0921\u093f\u092a\u0949\u091c\u093f\u091f \u092e\u0947\u0902 \u092a\u0948\u0938\u0947 \u0928\u093e \u0921\u093e\u0932\u0928\u093e \u0909\u0938\u0915\u0940 \u0905\u0935\u0938\u0930 \u0915\u0940\u092e\u0924 \u092f\u093e\u0928\u0940 \u0905\u092a\u0949\u0930\u094d\u091a\u0941\u0928\u093f\u091f\u0940 \u0915\u0949\u0938\u094d\u091f (Opportunity Cost) \u0939\u0941\u0908\u0964", "\u0911\u091f\u094b\u092e\u0947\u091f\u093f\u0915 \u092a\u093f\u091c\u093c\u094d\u091c\u093c\u093e \u092e\u0947\u0915\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u0907\u0938 \u092a\u094d\u0930\u092f\u093e\u0938 \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u0924\u0940\u0928 \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u092a\u0924\u093e \u0915\u093f\u092f\u093e\u2013", "\u0907\u0928 \u0924\u0940\u0928\u094b\u0902 \u092c\u093e\u0924\u094b\u0902 \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0905\u092c \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u0917\u0932\u0947 10 \u0938\u093e\u0932\u094b\u0902 \u0924\u0915 \u091c\u093e\u0930\u094d\u091c \u0915\u094b \u20b9500,000 \u092a\u094d\u0930\u0924\u093f \u0938\u093e\u0932 \u0907\u0938 \u092e\u0936\u0940\u0928 \u0938\u0947 \u092e\u093f\u0932\u0947\u0902\u0917\u0947 \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0941\u0906 \u0915\u093f \u091c\u0949\u0930\u094d\u091c 2014 \u092e\u0947\u0902 \u0905\u0917\u0932\u0947 10 \u0938\u093e\u0932\u094b\u0902 \u0915\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0930\u0939\u093e \u0939\u0948\u2013", "\u0907\u0928 \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u093e \u091c\u0935\u093e\u092c \u091b\u0941\u092a\u093e \u0939\u0948 \u091f\u093e\u0907\u092e \u0935\u0948\u0932\u094d\u092f\u0942 \u0911\u092b \u092e\u0928\u0940 (Time Value of Money) \u092e\u0947\u0902\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u092e\u0948\u0902 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u092a\u0948\u0938\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u0906\u091c \u0906\u091c \u092a\u0924\u093e \u0915\u0930 \u0938\u0915\u0942\u0902 \u0924\u094b \u092e\u0947\u0930\u0947 \u0932\u093f\u090f \u092e\u0936\u0940\u0928 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u0928\u093f\u0915\u093e\u0932\u0928\u093e \u0906\u0938\u093e\u0928 \u0939\u094b\u0917\u093e\u0964", "\u0905\u092d\u0940 \u0915\u0941\u091b \u0926\u0947\u0930 \u0915\u0947 \u0932\u093f\u090f \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0939\u092e \u092a\u093f\u091c\u094d\u091c\u093e \u092e\u0936\u0940\u0928 \u0935\u093e\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0926\u0942\u0930 \u091c\u093e\u090f\u0902 \u0932\u0947\u0915\u093f\u0928 \u0905\u0902\u0924 \u092e\u0947\u0902 \u0939\u092e \u0907\u0938\u0940 \u0909\u0926\u093e\u0939\u0930\u0923 \u092a\u0930 \u0932\u094c\u091f\u0947\u0902\u0917\u0947\u0964", "\u091f\u093e\u0907\u092e \u0935\u0948\u0932\u094d\u092f\u0942 \u0911\u092b \u092e\u0928\u0940 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0939\u0948 \u0907\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0939\u0930 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924\u094b\u0902 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948 \u092b\u093f\u0930 \u091a\u093e\u0939\u0947 \u0935\u0939 \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f\u0947\u0921 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0939\u094b \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935\u094d\u0938 \u092a\u094d\u0930\u093e\u0907\u0938\u093f\u0902\u0917 \u0939\u094b \u092a\u094d\u0930\u094b\u091c\u0947\u0915\u094d\u091f \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0939\u094b, \u090f\u0928\u0941\u0905\u091f\u0940 \u0939\u094b \u092f\u093e \u0915\u0941\u091b \u0914\u0930\u0964", "\u091f\u093e\u0907\u092e \u0935\u0948\u0932\u094d\u092f\u0942 \u0911\u092b \u092e\u0928\u0940 \u0915\u093e \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0907\u0938 \u092c\u093e\u0924 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0939\u0948 \u0915\u093f \u092a\u0948\u0938\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u092e\u092f \u0915\u0947 \u0938\u093e\u0925 \u092c\u0926\u0932\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0948 \u0915\u093f \u0906\u091c \u0905\u0917\u0930 \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u20b9100 \u0939\u0948 \u0924\u094b 2 \u0938\u093e\u0932 \u092c\u093e\u0926 \u0909\u0938 \u20b9100 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0941\u091b \u0914\u0930 \u0939\u094b\u0917\u0940\u0964\u00a0 \u091c\u0948\u0938\u0947-\u091c\u0948\u0938\u0947 \u0938\u092e\u092f \u092c\u0926\u0932\u0924\u093e \u0939\u0948 \u0935\u0948\u0938\u0947 \u0935\u0948\u0938\u0947 \u0905\u0935\u0938\u0930 \u0915\u0940\u092e\u0924 \u092d\u0940 \u092c\u0926\u0932\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0938 \u0905\u0935\u0938\u0930 \u0915\u0940\u092e\u0924 \u0915\u094b \u092a\u0948\u0938\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0938\u093e\u0925 \u091c\u094b\u0921\u093c\u0915\u0930 \u0926\u0947\u0916\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0939\u092e\u0947\u0902 \u0906\u091c \u0915\u0947 \u092a\u0948\u0938\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0915\u0930\u0928\u0940 \u0939\u0948, \u0924\u094b \u0939\u092e\u0947\u0902 \u0907\u0938 \u092a\u0948\u0938\u0947 \u0915\u094b \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0932\u0947 \u091c\u093e\u0915\u0930 \u0909\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0915\u094b \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u092b\u094d\u092f\u0942\u091a\u0930 \u0935\u0948\u0932\u094d\u092f\u0942 (future value \u2013 FV)\u0964 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u0947 \u092a\u0948\u0938\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u0917\u0930 \u0939\u092e\u0947\u0902 \u0906\u091c \u0926\u0947\u0916\u0928\u0940 \u0939\u0948 \u0924\u094b \u0939\u092e\u0947\u0902 \u0909\u0938 \u092a\u0948\u0938\u0947 \u0915\u094b \u0906\u091c \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0924\u094c\u0932\u0928\u093e \u0939\u094b\u0917\u093e \u0914\u0930 \u0907\u0938\u0915\u094b \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 (present value \u2013 PV).", "\u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u0938\u092e\u092f \u092c\u0926\u0932\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0938\u093e\u0925 \u0939\u092e\u0947\u0902 \u092a\u0948\u0938\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0905\u0935\u0938\u0930 \u0915\u0940\u092e\u0924 \u092f\u093e \u0905\u092a\u0949\u0930\u094d\u091a\u0941\u0928\u093f\u091f\u0940 \u0915\u0949\u0938\u094d\u091f \u0915\u094b \u091c\u094b\u0921\u093c\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u091c\u092c \u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0939\u092e \u092a\u0948\u0938\u0947 \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0928\u093f\u0915\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0909\u0938\u0947 \u0915\u0902\u092a\u093e\u0909\u0902\u0921\u093f\u0902\u0917 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939, \u091c\u092c \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u092a\u0948\u0938\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0906\u091c \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0928\u093f\u0915\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0909\u0938\u0947 \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f\u093f\u0902\u0917 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u092c \u0939\u092e \u0907\u0938 FV \u0914\u0930 PV \u0915\u094b \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u093e \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u093e \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902", "\u0909\u0926\u093e\u0939\u0930\u0923 1\u2013\u0906\u091c \u0915\u0947 \u20b95000 \u0915\u0940 \u0915\u0940\u092e\u0924 5 \u0938\u093e\u0932 \u092c\u093e\u0926 \u0915\u093f\u0924\u0928\u0940 \u0939\u094b\u0917\u0940, \u0905\u0917\u0930 \u0905\u0935\u0938\u0930 \u0915\u0940\u092e\u0924 8.5% \u0939\u0948?", "\u0907\u0938 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u092b\u094d\u092f\u0942\u091a\u0930 \u0935\u0948\u0932\u094d\u092f\u0942 (FV) \u0939\u094b\u0917\u0940:", "\u092b\u094d\u092f\u0942\u091a\u0930 \u0935\u0948\u0932\u094d\u092f\u0942 = \u0915\u0941\u0932 \u0930\u0915\u092e*(1+ \u0905\u092a\u0949\u0930\u094d\u091a\u0941\u0928\u093f\u091f\u0940 \u0915\u093e\u0938\u094d\u091f \u0926\u0930)^ \u0915\u0941\u0932 \u0938\u093e\u0932", "Future Value = Amount * (1+ opportunity cost rate) ^ Number of years.", "= 5000*(1+8.5%)^5", "= 7518.3", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u091c \u0915\u0947 \u20b95000 \u0915\u0940 \u0915\u0940\u092e\u0924 5 \u0938\u093e\u0932 \u092c\u093e\u0926 7518.3 \u0930\u0941\u092a\u092f\u0947 \u0939\u094b\u0917\u0940 \u0905\u0917\u0930 \u0905\u092a\u0949\u0930\u094d\u091a\u0941\u0928\u093f\u091f\u0940 \u0915\u0949\u0938\u094d\u091f 8.5% \u0939\u0948\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 2\u2013 \u0906\u091c \u0938\u0947 6 \u0938\u093e\u0932 \u092c\u093e\u0926 \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u093e \u20b910000 \u0906\u091c \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0915\u093f\u0924\u0928\u093e \u0939\u094b\u0917\u093e \u0905\u0917\u0930 \u0905\u092a\u0949\u0930\u094d\u091a\u0941\u0928\u093f\u091f\u0940 \u0915\u0949\u0938\u094d\u091f 8.5 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0939\u0948 ?", "\u092f\u0939\u093e\u0901 \u092a\u0930 \u0939\u092e PV \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "\u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 = \u0930\u0915\u092e / (1+ \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0930\u0947\u091f)^\u0915\u0941\u0932 \u0938\u093e\u0932", "Present Value = Amount / (1+Discount Rate) ^ Number of years", "= 10,000 / (1+8.5%)^6", "= 6129.5", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u092f\u0926\u093f \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0930\u0947\u091f 8.5% \u0939\u0948 \u0924\u094b \u0906\u091c \u0938\u0947 6 \u0938\u093e\u0932 \u092c\u093e\u0926 \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u0947 \u20b910000 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0906\u091c 6129.5 \u0930\u0941\u092a\u092f\u0947 \u0939\u094b\u0917\u0940 \u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 3\u2013 \u00a0\u0905\u0917\u0930 \u092e\u0948\u0902 \u092a\u0939\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u093e \u0938\u0935\u093e\u0932 \u092c\u0926\u0932 \u0926\u0942\u0902 \u0914\u0930 \u092f\u0939 \u092a\u0942\u091b\u0942\u0902 \u0915\u093f 5 \u0938\u093e\u0932 \u092e\u0948\u0902 \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u0947 7518.3 \u0930\u0941\u092a\u092f\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0906\u091c \u0915\u093f\u0924\u0928\u0940 \u0939\u094b\u0917\u0940, \u0905\u0917\u0930 \u0905\u092a\u0949\u0930\u094d\u091a\u0941\u0928\u093f\u091f\u0940 \u0915\u0949\u0938\u094d\u091f 8.5% \u0939\u0948 \u0924\u094b\u0964 \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0928\u093f\u0915\u093e\u0932\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u092f\u0939 \u092d\u0940 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u091c\u092c \u092a\u0939\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0907\u0938 \u0917\u0923\u0928\u093e \u0915\u094b \u0939\u092e\u0928\u0947 \u0909\u0932\u094d\u091f\u0947 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0915\u093f\u092f\u093e \u0925\u093e \u0924\u094b \u0939\u092e\u0947\u0902 \u0939\u092e\u093e\u0930\u093e \u0909\u0924\u094d\u0924\u0930 \u0925\u093e \u20b95000\u0964 \u0907\u0938\u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0915\u0947 PV \u00a0\u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902:", "= 7518.3/ (1+8.5%)^5", "=5000", "\u0905\u092c \u0906\u092a\u0915\u094b \u091f\u093e\u0907\u092e \u0935\u0948\u0932\u094d\u092f\u0942 \u0911\u092b \u092e\u0928\u0940 \u0938\u092e\u091d \u092e\u0947\u0902 \u0906 \u0917\u092f\u093e \u0939\u094b\u0917\u093e \u0907\u0938\u0932\u093f\u090f \u0939\u092e \u0905\u092a\u0928\u0947 \u092a\u093f\u091c\u093c\u094d\u091c\u093c\u093e \u0935\u093e\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092a\u0930 \u0935\u093e\u092a\u0938 \u0932\u094c\u091f\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092a\u093f\u091c\u093c\u094d\u091c\u093c\u093e \u0935\u093e\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u090f\u0915 \u092c\u093e\u0930 \u092b\u093f\u0930 \u0938\u0947 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u091c\u0949\u0930\u094d\u091c \u0915\u094b \u092e\u0936\u0940\u0928 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0915\u093f\u0938 \u0924\u0930\u0940\u0915\u0947 \u0915\u093e \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u092e\u093f\u0932\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948\u0964", "", "\u0905\u092c \u0938\u0935\u093e\u0932 \u092b\u093f\u0930 \u0938\u0947 \u0935\u0939\u0940 \u0939\u0948 \u0915\u093f \u2013 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u0915\u0940\u092e\u0924 \u0906\u091c \u0915\u093f\u0924\u0928\u0940 \u092e\u093e\u0928\u0940 \u091c\u093e\u0928\u0940 \u091a\u093e\u0939\u093f\u090f?", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f\u00a0 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u090f\u0915 \u0938\u092e\u093e\u0928 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0938\u093e\u0932\u094b\u0902 \u0924\u0915 \u092b\u0948\u0932\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u0907\u0938 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u094b \u0939\u092e\u0947\u0902 \u0909\u0938\u0915\u0940 \u0905\u092a\u0949\u0930\u094d\u091a\u0941\u0928\u093f\u091f\u0940 \u0915\u0949\u0938\u094d\u091f \u092f\u093e \u0905\u0935\u0938\u0930 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091f\u0947\u092c\u0932 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f \u091c\u093f\u0938\u092e\u0947\u0902 \u0939\u0930 \u0938\u093e\u0932 \u0915\u0947 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u094b 8.5% \u0915\u0940 \u0905\u0935\u0938\u0930 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948:", "(\u0930\u0942)", "(\u0938\u093e\u0932)", "PV /\u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942", "( \u0930\u0942)", "\u0939\u0930 \u0938\u093e\u0932 \u0915\u0940 \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 (PV) \u0915\u094b \u091c\u094b\u0921\u093c\u0928\u0947 \u092a\u0930 \u091c\u094b \u0938\u0902\u0916\u094d\u092f\u093e \u092e\u093f\u0932\u0924\u0940 \u0939\u0948 ,\u0909\u0938\u0915\u094b \u0928\u0947\u091f \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u092f\u093e NPV \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0939\u092e\u093e\u0930\u093e NPV \u0939\u0948 \u20b932,80,842 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u0915\u0941\u0932 \u0915\u0940\u092e\u0924 \u0906\u091c \u20b932,80,842 \u0939\u0948\u0964 \u0907\u0938\u0938\u0947 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u091c\u0949\u0930\u094d\u091c \u0905\u0917\u0930 \u092f\u0939 \u092e\u0936\u0940\u0928 \u0916\u0930\u0940\u0926\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0947 \u20b932,80,842 \u092f\u093e \u0909\u0938\u0938\u0947 \u0915\u092e \u0915\u0940\u092e\u0924 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0905\u092c \u0907\u0938\u0915\u094b \u0915\u093f\u0938\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0928\u091c\u0930\u093f\u090f \u0938\u0947 \u0926\u0947\u0916\u093f\u090f\u0964 \u0905\u0917\u0930 \u092f\u0939 \u092a\u093f\u091c\u094d\u091c\u093e \u092e\u0936\u0940\u0928 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940 \u0915\u094b\u0908 \u0915\u0902\u092a\u0928\u0940 \u0939\u094b\u0924\u0940 \u0924\u094b \u0906\u092a \u0909\u0938\u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0948\u0938\u0947 \u0928\u093f\u0915\u093e\u0932\u0947\u0902\u0917\u0947 \u0914\u0930 \u0909\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0948\u0938\u0947 \u092a\u0924\u093e \u0915\u0930\u0947\u0902\u0917\u0947? \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f\u0947\u0921 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u092e\u0949\u0921\u0932 \u092e\u0947\u0902 \u0939\u092e \u092f\u0939\u0940 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "5000*(1+8.5%)^5\nYeah rule ka breakat tod ke samjayo sir muje math ke formula me thodi takleef h", "Hi, \u092f\u0939 \u0938\u0942\u0924\u094d\u0930: {\u092b\u094d\u092f\u0942\u091a\u0930 \u0935\u0948\u0932\u094d\u092f\u0942 = \u0915\u0941\u0932 \u0930\u0915\u092e*(1+ \u0905\u092a\u0949\u0930\u094d\u091a\u0941\u0928\u093f\u091f\u0940 \u0915\u093e\u0938\u094d\u091f \u0926\u0930)^ \u0915\u0941\u0932 \u0938\u093e\u0932} \u0939\u0948\u0964 \u0914\u0930 \u0928\u0940\u091a\u0947 \u0907\u0938 \u0915\u093e \u092c\u094d\u0930\u0947\u0915\u0905\u092a \u0939\u0948\u0964\n= 5000*(1+8.5%)^5\n=5000*(1+0.085)^5\n=5000*(1.085)^5\n=7518.3", "\u092f\u0926\u093f \u0906\u092a\u0915\u094b \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u0915\u0920\u093f\u0928\u093e\u0908 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0924\u094b \u0906\u092a \u0907\u0928 \u0917\u0923\u0928\u093e\u0913\u0902 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915\u094d\u0938\u0947\u0932 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "Apka bahut bhaut dhanyavaad\u2026\u2026Apke ya versity hume bahut hi saral tarike se samjha rakha hau\u2026\u2026\u2026\u2026\u2026\u2026\u2026..aapka bhaut bahut abhinanadan", "\u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964 \ud83d\ude42", "^ sign ka kya mtlb hote hai", "^ sign ka kya mtlb hote hai", "\u092f\u0939 \u092e\u0932\u094d\u091f\u093f\u092a\u094d\u0932\u093f\u0915\u0947\u0936\u0928 \u0915\u093e \u0938\u093f\u0902\u092c\u0932 \u0939\u0948\u0964", "Nhi G , it\u2019s not that. It\u2019s Power script.\nExample:-\n(5)^2 = Means 5 multiplied by 5 , 2 times\n =5*5= 25\nOr\n(7)^3 = 7*7*7 = 343.\nThat\u2019s All\u2026.\nThank U Kulsum G\u2026\u2026", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/12/M3-Ch14-title.jpg", "https://secure.gravatar.com/avatar/86ae117c6483020d0ec57f81b9a95797?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/32664e0290bb823f7ad01790d40db636?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e7f5c80c314208c96c0dc9cbc6fa8544?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9da23da175cf1439e07c8c69a19c621d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9d4484c103b1496f524bbd69e11a360d?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<td><b>2015</b></td>\n<td><b>2016</b></td>\n<td><b>2017</b></td>\n<td><b>2018</b></td>\n<td><b>2019</b></td>\n<td><b>2020</b></td>\n<td><b>2021</b></td>\n<td><b>2022</b></td>\n<td><b>2023</b></td>\n<td><b>2024</b></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<td><b>2015</b></td>\n<td><b>2016</b></td>\n<td><b>2017</b></td>\n<td><b>2018</b></td>\n<td><b>2019</b></td>\n<td><b>2020</b></td>\n<td><b>2021</b></td>\n<td><b>2022</b></td>\n<td><b>2023</b></td>\n<td><b>2024</b></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><b>\u0938\u093e\u0932</b></td>\n<td style=\"text-align: center;\"><b>\u0915\u0948\u0936 \u092b\u094d\u0932\u094b</b>\n<p><b>(</b><b>\u0930\u0942</b><b>)</b></p></td>\n<td style=\"text-align: center;\"><b>\u092d\u0941\u0917\u0924\u093e\u0928</b>\n<p><b>(</b><b>\u0938\u093e\u0932)</b></p></td>\n<td>\n<p style=\"text-align: center;\"><b>PV /</b><b>\u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942</b></p>\n<p style=\"text-align: center;\"><b>( </b><b>\u0930\u0942</b><b>)</b></p>\n</td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2015</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">1</span></td>\n<td><span style=\"font-weight: 400;\">460,829</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2016</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">2</span></td>\n<td><span style=\"font-weight: 400;\">424808</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2017</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">3</span></td>\n<td><span style=\"font-weight: 400;\">391481</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2018</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">4</span></td>\n<td><span style=\"font-weight: 400;\">360802</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2019</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">5</span></td>\n<td><span style=\"font-weight: 400;\">332535</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2020</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">6</span></td>\n<td><span style=\"font-weight: 400;\">306485</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2021</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">7</span></td>\n<td><span style=\"font-weight: 400;\">282470</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2022</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">8</span></td>\n<td><span style=\"font-weight: 400;\">260,335</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2023</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">9</span></td>\n<td><span style=\"font-weight: 400;\">239,946</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2024</span></td>\n<td><span style=\"font-weight: 400;\">500,000</span></td>\n<td><span style=\"font-weight: 400;\">10</span></td>\n<td><span style=\"font-weight: 400;\">221151</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total</span></td>\n<td><span style=\"font-weight: 400;\">50,00,000</span></td>\n<td></td>\n<td><span style=\"font-weight: 400;\">32,80,842</span></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "15. \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0930\u093f\u0938\u0930\u094d\u091a (\u092d\u093e\u0917 2)", "text": ["\u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u0928\u0947\u091f \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 (Net Present Value \u2013 NPV) \u0915\u0940 \u092c\u093e\u0924 \u0915\u0940 \u0925\u0940\u0964 DCF \u0935\u0948\u0932\u094d\u092f\u0942\u090f\u0936\u0928 \u092e\u0949\u0921\u0932 \u092e\u0947\u0902 NPV \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092d\u0942\u092e\u093f\u0915\u093e \u0905\u0926\u093e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u0939\u092e\u0947\u0902 DCF \u092e\u0949\u0921\u0932 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0915\u0941\u091b \u0914\u0930 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964 \u0939\u092e \u0905\u092e\u093e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940\u091c \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u092a\u0930 DCF \u092e\u0949\u0921\u0932 \u0915\u094b \u0932\u093e\u0917\u0942 \u0915\u0930\u0947\u0902\u0917\u0947 \u0914\u0930 \u0907\u0938 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0939\u0941\u090f \u0926\u0942\u0938\u0930\u0947 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964 \u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u0938\u0947 \u0939\u092e\u0947\u0902 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u0947 \u0924\u0940\u0938\u0930\u0947 \u091a\u0930\u0923 \u092f\u093e\u0928\u0940 \u0935\u0948\u0932\u094d\u092f\u0942\u090f\u0936\u0928 \u0915\u093e \u0924\u0930\u0940\u0915\u093e \u092d\u0940 \u0938\u092e\u091d \u092e\u0947\u0902 \u0906\u090f\u0917\u093e\u0964", "\u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u092a\u093f\u091c\u094d\u091c\u093e \u092e\u0936\u0940\u0928 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092f\u0939 \u091c\u093e\u0928\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u0925\u0940 \u0915\u093f \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093f\u0924\u0928\u093e \u0939\u094b\u0917\u093e \u0914\u0930 \u0909\u0938\u0915\u094b \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0915\u0930\u0915\u0947 \u0939\u092e\u0928\u0947 PV \u0928\u093f\u0915\u093e\u0932\u093e \u0925\u093e\u0964 \u0939\u092e\u0928\u0947 \u0938\u092d\u0940 \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u094b \u091c\u094b\u0921\u093c\u0915\u0930 \u0928\u0947\u091f \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 (NPV) \u0928\u093f\u0915\u093e\u0932\u093e \u0925\u093e\u0964 \u0938\u093e\u0925 \u0939\u0940 \u0939\u092e\u0928\u0947 \u092f\u0939 \u092d\u0940 \u0938\u094b\u091a\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u0925\u0940 \u0915\u093f \u0905\u0917\u0930 \u092a\u093f\u091c\u094d\u091c\u093e \u092e\u0936\u0940\u0928 \u0915\u0940 \u091c\u0917\u0939 \u092f\u0939\u0940 \u091a\u0940\u091c \u0915\u093f\u0938\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u092a\u0930 \u0932\u093e\u0917\u0942 \u0915\u093f\u092f\u093e \u091c\u093e\u090f \u0924\u094b \u0915\u094d\u092f\u093e \u092a\u0924\u093e \u091a\u0932\u0947\u0917\u093e? \u0938\u091a \u0924\u094b \u092f\u0939 \u0939\u0948 \u0915\u093f \u0915\u093f\u0938\u0940 \u092d\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u094b \u0926\u0947\u0916\u0915\u0930 \u0939\u092e \u0909\u0938 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u092a\u0924\u093e \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0939\u092e \u0915\u093f\u0938 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u092c\u093e\u0924 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902? \u0939\u092e \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0948\u0938\u0947 \u092a\u0924\u093e \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902?", "", "\u0915\u0902\u092a\u0928\u0940 \u0915\u0947 DCF \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u0939\u092e \u091c\u093f\u0938 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0909\u0938\u0915\u094b \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b (FCF) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0935\u094b \u0928\u0917\u0926 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u0905\u092a\u0928\u0947 \u092a\u0942\u0902\u091c\u0940\u0917\u0924 \u0916\u0930\u094d\u091a \u092f\u093e\u0928\u0940 \u0915\u0948\u092a\u093f\u091f\u0932 \u090f\u0915\u094d\u0938\u092a\u0947\u0902\u0921\u093f\u091a\u0930 \u0915\u0947 \u092c\u093e\u0926, \u091c\u0948\u0938\u0947 \u091c\u092e\u0940\u0928, \u092e\u0915\u093e\u0928 \u092f\u093e \u092e\u0936\u0940\u0928\u094b\u0902 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926, \u092c\u091a\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0935\u094b \u0930\u0915\u092e \u0939\u0948 \u091c\u094b \u0936\u0947\u092f\u0930\u0939\u094b\u0932\u094d\u0921\u0930\u094d\u0938 \u0915\u0947 \u0932\u093f\u090f \u0930\u0916\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u090f\u0915 \u0905\u091a\u094d\u091b\u0947 \u092c\u093f\u091c\u0928\u0947\u0938 \u0915\u0940 \u092a\u0939\u091a\u093e\u0928 \u092f\u0939\u0940 \u0939\u0948 \u0915\u093f \u0935\u0939 \u0915\u093f\u0924\u0928\u093e \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u092c\u0928\u093e \u0930\u0939\u093e \u0939\u0948\u0964", "\u0924\u094b \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0935\u0939 \u0930\u0915\u092e \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0924\u092e\u093e\u092e \u0916\u0930\u094d\u091a \u0914\u0930 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u092c\u093e\u0926 \u092c\u091a\u093e \u092a\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0938\u0947\u0939\u0924 \u0905\u091a\u094d\u091b\u0940 \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0928\u093f\u0935\u0947\u0936\u0915 \u0939\u092e\u0947\u0936\u093e \u0910\u0938\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u0924\u0932\u093e\u0936 \u092e\u0947\u0902 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u092e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0909\u0928\u0915\u093e \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e\u092b\u0940 \u0905\u091a\u094d\u091b\u093e \u0939\u0948\u0964 \u0909\u0928\u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u0938\u092e\u092f \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u092c\u0940\u091a \u0915\u093e \u0905\u0902\u0924\u0930 \u0916\u0924\u094d\u092e \u0939\u094b \u091c\u093e\u090f\u0917\u093e \u0914\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u091a\u094d\u091b\u0947 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u090a\u092a\u0930 \u091a\u0922\u093c \u091c\u093e\u090f\u0917\u0940\u0964", "\u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u094b \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u093e \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u093e \u0939\u0948:", "FCF = \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0938\u0947 \u092e\u093f\u0932\u093e \u0915\u0948\u0936 \u2013 \u092a\u0942\u0902\u091c\u0940\u0917\u0924 \u0916\u0930\u094d\u091a", "FCF = Cash from Operating Activities \u2013 Capital Expenditures", "ARBL \u0915\u093e \u0924\u0940\u0928 \u0938\u093e\u0932 FCF \u0928\u093f\u0915\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u2013", "\u0935\u093f\u0935\u0930\u0923", "2013 -14", "", "ARBL \u0915\u0940 FY14 \u0915\u0940 \u0935\u093e\u0930\u094d\u0937\u093f\u0915 \u0930\u093f\u092a\u094b\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f \u0914\u0930 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0940\u091c\u093f\u090f:", "", "\u0927\u094d\u092f\u093e\u0928 \u0926\u0940\u091c\u093f\u090f \u0915\u093f \u0911\u092a\u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u0915\u094d\u091f\u093f\u0935\u093f\u091f\u0940\u091c \u0915\u0947 \u0928\u0947\u091f \u0915\u0948\u0936 \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0924\u0947 \u0938\u092e\u092f \u0907\u0928\u0915\u092e \u091f\u0948\u0915\u094d\u0938 \u0909\u0938\u092e\u0947\u0902 \u0938\u0947 \u0928\u093f\u0915\u093e\u0932\u093e \u091c\u093e \u091a\u0941\u0915\u093e \u0939\u0948\u0964 \u0911\u092a\u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u0915\u094d\u091f\u093f\u0935\u093f\u091f\u0940\u091c \u0915\u0947 \u0928\u0947\u091f \u0915\u0948\u0936 \u0915\u094b \u0938\u094d\u0915\u094b\u0930 \u0939\u0930\u0947 \u0930\u0902\u0917 \u0938\u0947 \u0914\u0930 \u0915\u0948\u092a\u093f\u091f\u0932 \u090f\u0915\u094d\u0938\u092a\u0947\u0902\u0921\u093f\u091a\u0930 \u0915\u094b \u0932\u093e\u0932 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "\u092f\u0939\u093e\u0902 \u092a\u0930 \u0906\u092a\u0915\u0947 \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u090f\u0915 \u0938\u0935\u093e\u0932 \u0909\u0920 \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u091c\u092c \u0939\u092e \u092b\u094d\u092f\u0942\u091a\u0930 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0928\u093f\u0915\u093e\u0932 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0924\u094b \u0939\u092e\u0947\u0902 \u0907\u0938 \u0910\u0924\u093f\u0939\u093e\u0938\u093f\u0915 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0940 \u0915\u094d\u092f\u093e \u091c\u0930\u0942\u0930\u0924 \u0939\u0948? \u0907\u0938\u0915\u093e \u091c\u0935\u093e\u092c \u092c\u0939\u0941\u0924 \u0938\u0940\u0927\u093e \u0939\u0948 \u0939\u092e\u0947\u0902 DCF \u092e\u0949\u0921\u0932 \u092e\u0947\u0902 \u092b\u094d\u092f\u0942\u091a\u0930 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f\u0935\u093e\u0923\u0940 \u0915\u0930\u0928\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u094b \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u092f\u0939 \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0905\u092c \u0924\u0915 \u0910\u0924\u093f\u0939\u093e\u0938\u093f\u0915 \u0930\u0942\u092a \u0938\u0947 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093f\u0938 \u0914\u0938\u0924 \u0938\u0947 \u092c\u0922\u093c\u0924\u093e \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0940 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0939\u092e \u092b\u094d\u092f\u0942\u091a\u0930 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f\u0935\u093e\u0923\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u092c \u0938\u0935\u093e\u0932 \u092f\u0939 \u0939\u0948 \u0915\u093f \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u092c\u0922\u093c\u0928\u0947 \u0915\u0940 \u0915\u093f\u0938 \u0930\u092b\u094d\u0924\u093e\u0930 \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f\u0935\u093e\u0923\u0940 \u0915\u0940 \u091c\u093e\u090f\u0964 \u0915\u094d\u092f\u093e \u092f\u0939 \u0938\u094d\u0925\u093f\u0930 \u0926\u0930 \u0938\u0947 \u092c\u0922\u093c \u0938\u0915\u0924\u0940 \u0939\u0948? \u092f\u0939 \u0939\u092e\u0947\u0936\u093e \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0907\u0938\u0915\u0947 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0915\u0940 \u0926\u0930 \u092c\u0939\u0941\u0924 \u091c\u094d\u092f\u093e\u0926\u093e \u0928\u0939\u0940\u0902 \u0930\u0916\u0928\u0940 \u0939\u0948\u0964 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0924\u094c\u0930 \u092a\u0930 \u092e\u0948\u0902 \u0939\u0940 \u0939\u092e\u0947\u0936\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902 \u0915\u093f FCF \u0915\u092e \u0938\u0947 \u0915\u092e 10 \u0938\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f \u0928\u093f\u0915\u093e\u0932\u093e \u091c\u093e\u090f\u0964 \u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092e\u0948\u0902 \u0936\u0941\u0930\u0941\u0906\u0924 \u0915\u0947 5 \u0938\u093e\u0932 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0926\u0930 \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f\u0935\u093e\u0923\u0940 \u0915\u0930\u0924\u093e \u0939\u0942\u0902 \u0914\u0930 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0915\u0947 5 \u0938\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f \u0926\u0930 \u092a\u0939\u0932\u0947 \u0938\u0947 \u0915\u092e \u092e\u093e\u0928\u0924\u093e \u0939\u0942\u0902\u0964 \u0907\u0938\u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0928\u0940\u091a\u0947 \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u094b \u0926\u0947\u0916\u093f\u090f:", "\u092a\u0939\u0932\u093e \u0915\u0926\u092e \u2013 \u0914\u0938\u0924 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0915\u0940\u091c\u093f\u090f", "\u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0947 ARBL \u0915\u0947 \u092a\u093f\u091b\u0932\u0947 3 \u0938\u093e\u0932 \u0915\u093e \u090f\u0915 \u0914\u0938\u0924 \u0928\u093f\u0915\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u2013", "(209.7+ 262.99 + 51.6)/3", "= 140.36", "\u092a\u093f\u091b\u0932\u0947 3 \u0938\u093e\u0932 \u0915\u0947 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u0914\u0938\u0924 \u0932\u0947\u0928\u0947 \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u092f\u0939 \u0939\u0948 \u0915\u093f \u0939\u092e\u0947\u0902 \u0939\u0930 \u0924\u0930\u0940\u0915\u0947 \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u093e \u090f\u0915 \u0905\u0902\u0926\u093e\u091c \u092e\u093f\u0932 \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u092c\u093f\u091c\u0928\u0947\u0938 \u092e\u0947\u0902 \u0906 \u0930\u0939\u0947 \u0909\u0924\u093e\u0930-\u091a\u0922\u093c\u093e\u0935 \u0915\u093e \u092d\u0940 \u0905\u0938\u0930 \u0928\u093f\u0915\u0932 \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f ARBL \u0915\u093e \u0938\u092c\u0938\u0947 \u0924\u093e\u091c\u093e \u0915\u0948\u0936 \u092b\u094d\u0932\u094b 51.6 \u0915\u0930\u094b\u0921\u093c \u0939\u0948 \u091c\u094b \u0915\u093f \u0928\u0947\u0917\u0947\u091f\u093f\u0935 \u0939\u0948\u0964 \u091c\u093e\u0939\u093f\u0930 \u0939\u0948 \u0915\u093f \u092f\u0947 ARBL \u0915\u0947 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u0938\u0939\u0940 \u0924\u0938\u094d\u0935\u0940\u0930 \u0928\u0939\u0940\u0902 \u092c\u0924\u093e\u090f\u0917\u093e\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0914\u0938\u0924 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u094b \u0939\u0940 \u0932\u093f\u092f\u093e \u091c\u093e\u090f\u0964", "\u0926\u0942\u0938\u0930\u093e \u0915\u0926\u092e \u2013 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0915\u094b \u092a\u0939\u091a\u093e\u0928\u093f\u090f", "\u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f \u0915\u094b\u0908 \u092d\u0940 \u090f\u0915 \u0926\u0930 \u0932\u0947 \u0932\u0940\u091c\u093f\u090f \u091c\u094b \u0906\u092a\u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u0939\u0940 \u0914\u0930 \u0924\u093e\u0930\u094d\u0915\u093f\u0915 \u0939\u0948 \u0914\u0930 \u0906\u092a\u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0914\u0938\u0924 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0907\u0938\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0938\u0947 \u092c\u0922\u093c \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u092e\u0948\u0902 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0915\u094b \u0926\u094b \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u0924\u093e \u0939\u0942\u0902\u0964 \u092a\u0939\u0932\u093e \u0939\u093f\u0938\u094d\u0938\u093e 5 \u0938\u093e\u0932 \u0915\u093e \u0930\u0916\u0924\u093e \u0939\u0942\u0902, \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0915\u0947 5 \u0938\u093e\u0932 \u0915\u094b \u0926\u0942\u0938\u0930\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u0930\u0916\u0924\u093e \u0939\u0942\u0902\u0964 ARBL \u0915\u0947 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092e\u0948\u0902 \u092a\u0939\u0932\u0947 5 \u0938\u093e\u0932 \u092e\u0947\u0902 18% \u0915\u0940 \u0926\u0930 \u0915\u0940 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e\u0924\u093e \u0939\u0942\u0902 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0915\u0947 5 \u0938\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f 10% \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0938\u0947 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0930\u0916\u0924\u093e \u0939\u0942\u0902\u0964 \u0905\u0917\u0930 \u0915\u093f\u0938\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0915\u093e\u092e \u0915\u093e\u091c \u0905\u091a\u094d\u091b\u093e \u0939\u0948 \u0914\u0930 \u0935\u0939 \u090f\u0915 \u092c\u0921\u093c\u0940 \u0915\u0902\u092a\u0928\u0940 \u092c\u0928 \u091a\u0941\u0915\u0940 \u0939\u0948 \u0924\u094b \u092e\u0948\u0902 \u0936\u093e\u092f\u0926 15% \u0914\u0930 10% \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0930\u0916\u0924\u093e\u0964\u00a0 \u0906\u092a \u0905\u092a\u0928\u0947 \u0905\u0928\u0941\u092e\u093e\u0928 \u092e\u0947\u0902 \u091c\u093f\u0924\u0928\u093e \u0915\u092e \u0938\u0947 \u0915\u092e \u0909\u092e\u094d\u092e\u0940\u0926 \u0930\u0916\u0947\u0902 \u0909\u0924\u0928\u093e \u0939\u0940 \u0905\u091a\u094d\u091b\u093e\u0964", "\u0924\u0940\u0938\u0930\u093e \u0915\u0926\u092e\u2013 \u00a0\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0915\u0930\u0947\u0902", "\u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f 2013 14 \u0915\u093e \u0914\u0938\u0924 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b 140.36 \u0915\u0930\u094b\u0921\u093c \u0925\u093e \u0905\u092c 18% \u0915\u0940 \u0935\u093f\u0915\u093e\u0938 \u0926\u0930 \u0915\u0947 \u0938\u093e\u0925 2014 \u201315 \u0915\u0947 \u0932\u093f\u090f \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0926\u0930 \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0939\u094b\u0917\u093e:", "= 140.36 *(1+18%)", "= 165.62 \u0915\u0930\u094b\u0921\u093c", "\u0938\u0928 2015-16 \u0915\u0947 \u0932\u093f\u090f \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0939\u094b\u0917\u093e :", "= 165.62*(1+18%)", "= 195.43 \u0915\u0930\u094b\u0921\u093c", "\u0907\u0938\u0940 \u0924\u0930\u0939 \u0906\u092a \u0906\u0917\u0947 \u0915\u0940 \u0917\u0923\u0928\u093e \u092d\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u2013", "\u0906\u092a \u0939\u092e\u093e\u0930\u0947 \u092a\u093e\u0938 \u092b\u094d\u092f\u0942\u091a\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0916\u093e\u0938\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0906\u092a \u092a\u0942\u091b \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092f\u0947 \u0905\u0928\u0941\u092e\u093e\u0928 \u0915\u093f\u0924\u0928\u093e \u0938\u0939\u0940 \u0939\u0948\u0964 \u0906\u0916\u093f\u0930\u0915\u093e\u0930 \u0939\u092e \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e\u0924\u0947 \u0939\u0941\u090f \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940, \u0916\u0930\u094d\u091a, \u092c\u093f\u091c\u0928\u0947\u0938 \u0938\u093e\u0907\u0915\u093f\u0932 \u0914\u0930 \u0910\u0938\u0940 \u0924\u092e\u093e\u092e \u091a\u0940\u091c\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092d\u0940 \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u092f\u0939 \u0905\u0928\u0941\u092e\u093e\u0928 \u092d\u0940 \u0938\u093f\u0930\u094d\u092b \u0914\u0930 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u0905\u0928\u0941\u092e\u093e\u0928 \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u092f\u0939 \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0906\u092a \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e\u0924\u0947 \u0938\u092e\u092f \u091c\u093f\u0924\u0928\u093e \u0938\u0902\u092d\u0932\u0915\u0930 \u0915\u092e \u0938\u0947 \u0915\u092e \u0905\u0928\u0941\u092e\u093e\u0928 \u0915\u0930\u0947\u0902 \u0909\u0924\u0928\u093e \u0939\u0940 \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0917\u093e\u0964 \u0939\u092e\u0928\u0947 \u092f\u0939\u093e\u0902 18% \u0914\u0930 10% \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0930\u0916\u093e \u0939\u0948 \u091c\u094b \u0915\u093f \u090f\u0915 \u0905\u091a\u094d\u091b\u0940 \u0914\u0930 \u092c\u0922\u093c\u0924\u0940 \u0939\u0941\u0908 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0915\u093e\u092b\u0940 \u0915\u092e \u0939\u0948\u0964", "\u0939\u092e\u0928\u0947 \u0905\u0917\u0932\u0947 10 \u0938\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f \u092b\u094d\u092f\u0942\u091a\u0930 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 10 \u0938\u093e\u0932 \u0915\u0947 \u092c\u093e\u0926 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u093e? \u092f\u0939 \u0915\u0902\u092a\u0928\u0940 \u091a\u0932\u0924\u0940 \u0930\u0939\u0947\u0917\u0940 \u092f\u093e \u0928\u0939\u0940\u0902? \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u090f\u0915 \u0910\u0938\u0940 \u0935\u0938\u094d\u0924\u0941 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u094b \u0932\u0917\u093e\u0924\u093e\u0930 \u091a\u0932\u0924\u0940 \u0930\u0939\u0947\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u092d\u0940 \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u091c\u092c \u0924\u0915 \u091a\u0932\u0924\u0940 \u0930\u0939\u0947\u0917\u0940 \u0924\u092c \u0924\u0915 \u0915\u0941\u091b \u0928\u093e \u0915\u0941\u091b \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u0906\u0924\u093e \u0930\u0939\u0947\u0917\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u091c\u0948\u0938\u0947-\u091c\u0948\u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u092c\u0921\u093c\u0940 \u0939\u094b\u0924\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0935\u0948\u0938\u0947\u2013\u0935\u0948\u0938\u0947 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0915\u092e \u0939\u094b\u0924\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "10 \u0938\u093e\u0932 \u0915\u0947 \u092c\u093e\u0926 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0915\u094b \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0917\u094d\u0930\u094b\u0925 \u0930\u0947\u091f \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0917\u094d\u0930\u094b\u0925 \u0930\u0947\u091f \u0915\u094b 5% \u0938\u0947 \u0915\u092e \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0924\u094c\u0930 \u092a\u0930 \u092e\u0948\u0902 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0917\u094d\u0930\u094b\u0925 \u0930\u0947\u091f \u0915\u094b 3% \u0938\u0947 4% \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0939\u0940 \u092e\u093e\u0928\u0924\u093e \u0939\u0942\u0902 \u0964 10 \u0938\u093e\u0932 \u0915\u0947 \u092c\u093e\u0926 \u0915\u0947 \u0938\u092d\u0940 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u0915\u0941\u0932 \u091c\u092e\u093e \u0915\u094b \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u094b \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 10\u0935\u0947\u0902 \u0938\u093e\u0932 \u0915\u0947 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u094b \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0917\u094d\u0930\u094b\u0925 \u0930\u0947\u091f \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0938\u0947 \u092c\u0922\u093c\u093e\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0947 \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u093e \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u093e \u0925\u094b\u0921\u093c\u093e \u0905\u0932\u0917 \u0939\u0948:", "\u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0935\u0948\u0932\u094d\u092f\u0942 = FCF*(1 + \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0917\u094d\u0930\u094b\u0925 \u0930\u0947\u091f) / (\u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0930\u0947\u091f\u2013 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0917\u094d\u0930\u094b\u0925 \u0930\u0947\u091f)", "Terminal Value = FCF * (1 + Terminal Growth Rate) / (Discount Rate \u2013 Terminal growth rate)", "\u092f\u093e\u0926 \u0930\u0939\u0947 \u0915\u093f \u092f\u0939\u093e\u0901 FCF 10\u0935\u0947\u0902 \u0938\u093e\u0932 \u0915\u093e \u0939\u0948\u0964 \u0905\u092c 9% \u0915\u0947 \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0930\u0947\u091f \u0914\u0930 3.5% \u0915\u0947 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0917\u094d\u0930\u094b\u0925 \u0930\u0947\u091f \u0938\u0947\u00a0 ARBL \u0915\u093e \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0935\u0948\u0932\u094d\u092f\u0942 \u0928\u093f\u0915\u093e\u0932\u0924\u0947 \u0939\u0948\u0902:", "= 517.12*(1+3.5%)/(9%-3.5%)", "= 9731.25 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947", "\u0905\u092c \u0939\u092e\u0947\u0902 10 \u0938\u093e\u0932 \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u092d\u0940 \u092a\u0924\u093e \u0939\u0948 \u0914\u0930 \u0939\u092e\u0947\u0902 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0935\u0948\u0932\u094d\u092f\u0942 \u092d\u0940 \u092a\u0924\u093e \u0939\u0948 (\u091c\u094b \u0915\u093f ARBL \u0915\u093e 10 \u0938\u093e\u0932 \u0915\u0947 \u092c\u093e\u0926 \u0938\u0947 \u0905\u0928\u0902\u0924 \u0924\u0915 \u0915\u093e \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0939\u0948 )\u0964 \u0906\u092a \u0939\u092e\u0947\u0902 \u0907\u0938 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u0915\u0940\u092e\u0924 \u0906\u091c \u0915\u0947 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092a\u0924\u093e \u0915\u0930\u0928\u0940 \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0939\u094b\u0917\u093e \u0915\u093f \u0907\u0938\u0915\u094b \u0939\u092e \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0939\u092e\u0928\u0947 \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0928\u093f\u0915\u093e\u0932 \u0932\u093f\u092f\u093e \u0924\u094b \u0939\u092e \u0928\u0947\u091f \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u092d\u0940 \u0928\u093f\u0915\u093e\u0932 \u0938\u0915\u0947\u0902\u0917\u0947\u0964", "\u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0939\u092e 9% \u0915\u093e \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0930\u0947\u091f \u092e\u093e\u0928 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f 2015\u201316 \u092e\u0947\u0902 ARBL \u0915\u094b 195.29 \u0915\u094b \u092e\u093f\u0932\u0928\u0947 \u0939\u0948\u0902 9% \u0915\u0947 \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0930\u0947\u091f \u092a\u0930 \u0907\u0938\u0915\u0940 \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0939\u094b\u0917\u0940:", "= 195.29/(1+9%)^2", "=164.37 \u0915\u0930\u094b\u0921\u093c \u0930\u0942", "\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0939\u094b\u0917\u0940:", "\u0907\u0938\u0915\u0947 \u0938\u093e\u0925 \u0939\u0940 \u0939\u092e\u0947\u0902 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u0928\u0947\u091f \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u094b \u0928\u093f\u0915\u093e\u0932\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u094b \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0930\u0947\u091f \u0938\u0947 \u0921\u093f\u0938\u094d\u0915\u093e\u0909\u0902\u091f \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "=9731.25/(1+9%)^10", "= 4110.69 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947", "\u0907\u0938 \u0924\u0930\u0939\u00a0 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u0915\u0941\u0932 \u092a\u094d\u0930\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0939\u094b\u0917\u0940:", "= 1968.14+ 4110.69", "= 6078.83 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u091c \u092f\u0939\u093e\u0902 \u0938\u0947 \u0939\u092e \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f ARBL \u00a0\u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u093e \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u092c\u0928\u093e\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948\u0964 \u092f\u093e\u0928\u0940 ARBL \u0915\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u094b 6078.83 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947 \u092e\u093f\u0932\u0947\u0902\u0917\u0947\u0964", "\u0905\u092c \u0939\u092e DCF \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0905\u0902\u0924 \u092e\u0947\u0902 \u092a\u0939\u0941\u0902\u091a \u0917\u090f \u0939\u0948\u0902, \u0907\u0938\u0932\u093f\u090f \u0905\u092c \u0939\u092e ARBL \u0915\u0940 \u092b\u094d\u092f\u0942\u091a\u0930 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0928\u093f\u0915\u093e\u0932\u0947\u0902\u0917\u0947\u0964", "\u0939\u092e\u0947\u0902 \u092f\u0939 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f ARBL \u0915\u0941\u0932 \u0915\u093f\u0924\u0928\u093e \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u092c\u0928\u093e\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948, \u0939\u092e\u0947\u0902 ARBL \u0915\u0947 \u0915\u0941\u0932 \u0906\u0909\u091f\u0938\u094d\u091f\u0948\u0902\u0921\u093f\u0902\u0917 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u092d\u0940 \u092a\u0924\u093e \u0939\u0948, \u0915\u0941\u0932 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u094b \u0915\u0941\u0932 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u0947 \u0935\u093f\u092d\u093e\u091c\u093f\u0924 \u0915\u0930\u0928\u0947 \u092a\u0930 \u0939\u092e\u0947\u0902 ARBL \u0915\u0940 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u0915\u0940\u092e\u0924 \u092a\u0924\u093e \u091a\u0932 \u091c\u093e\u090f\u0917\u0940\u0964", "\u0932\u0947\u0915\u093f\u0928 \u092f\u0939 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0939\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0928\u0947\u091f \u0921\u0947\u091f \u092f\u093e\u0928\u0940 \u0915\u0941\u0932 \u0915\u0930\u094d\u091c \u0915\u094b \u092d\u0940 \u092a\u0924\u093e \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u092f\u0939 \u0906\u0902\u0915\u0921\u093c\u093e \u0939\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0938\u0947 \u092e\u093f\u0932\u0947\u0917\u093e\u0964 \u0907\u0938\u0947 \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0907\u0938 \u0938\u093e\u0932 \u0915\u0947 \u0915\u0941\u0932 \u0915\u0930\u094d\u091c \u092e\u0947\u0902 \u0938\u0947 \u0907\u0938 \u0938\u093e\u0932 \u0915\u0947 \u0915\u0948\u0936 \u0914\u0930 \u0915\u0948\u0936 \u0907\u0915\u094d\u0935\u093f\u0935\u0948\u0932\u0947\u0902\u091f \u0938\u0947 \u0918\u091f\u093e\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u0928\u0947\u091f \u0915\u0930\u094d\u091c (\u0928\u0947\u091f \u0921\u0947\u091f) =\u00a0 \u0907\u0938 \u0938\u093e\u0932 \u0915\u093e \u0915\u0941\u0932 \u0915\u0930\u094d\u091c (\u091f\u094b\u091f\u0932 \u0921\u0947\u091f) \u2013 \u0915\u0948\u0936 \u0914\u0930 \u0915\u0948\u0936 \u092c\u0948\u0932\u0947\u0902\u0938", "Net Debt = Current Year Total Debt \u2013 Cash & Cash Balance", "ARBL \u0915\u093e \u0928\u0947\u091f \u0915\u0930\u094d\u091c (FY14 \u0915\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915)\u2013", "\u0928\u0947\u091f \u0915\u0930\u094d\u091c = 75.94-294.5", "= (218.6 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947)", "\u0907\u0938 \u0906\u0902\u0915\u0921\u093c\u0947 \u0915\u093e \u0928\u093f\u0917\u0947\u091f\u093f\u0935 \u0939\u094b\u0928\u0947 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u0915\u0930\u094d\u091c \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0928\u0915\u0926 (\u0915\u0948\u0936) \u0939\u0948\u0964 \u0905\u092c \u0907\u0938\u0947 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0947 \u0915\u0941\u0932 \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u092e\u0947\u0902 \u091c\u094b\u0921\u093c\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "= 6078.83 \u2013 (218.6)", "= 6297.43 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947", "\u0907\u0938 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u094b \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0941\u0932 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u0947 \u0935\u093f\u092d\u093e\u091c\u093f\u0924 \u0915\u0930\u0928\u0947 \u092a\u0930 \u0939\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u0940\u0964 \u0907\u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 (intrinsic value) \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0936\u0947\u092f\u0930 \u0915\u0940\u092e\u0924 = \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u0915\u0941\u0932 \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942/ \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0941\u0932 \u0938\u0902\u0916\u094d\u092f\u093e", "Share Price = Total Present Value of Free Cash flow / Total Number of shares", "ARBL \u0915\u0940 \u0935\u093e\u0930\u094d\u0937\u093f\u0915 \u0930\u093f\u092a\u094b\u0930\u094d\u091f \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0941\u0932 \u0938\u0902\u0916\u094d\u092f\u093e 17.081 \u0915\u0930\u094b\u0921\u093c \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u0939\u0948:", "6297.43/ 17.08", "= 368 \u0930\u0941\u092a\u092f\u0947 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930", "\u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 DCF \u092e\u0949\u0921\u0932 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "15.6- \u092e\u0949\u0921\u0932\u093f\u0902\u0917 \u0924\u094d\u0930\u0941\u091f\u093f (Modeling Error) \u0914\u0930 \u0907\u0902\u091f\u094d\u0930\u0928\u094d\u0938\u093f\u0915 \u0935\u0948\u0932\u094d\u092f\u0942 \u092c\u0948\u0928\u094d\u0921 (Intrinsic Value Band)", "DCF \u092e\u0949\u0921\u0932 \u0935\u0948\u091c\u094d\u091e\u093e\u0928\u093f\u0915 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0924\u094b \u092c\u0928\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u092f\u0947 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0905\u0928\u0941\u092e\u093e\u0928\u094b\u0902 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u092e\u0947\u0902 \u0939\u092e\u0947\u0936\u093e \u0925\u094b\u0921\u093c\u0940 \u0917\u0932\u0924\u093f\u092f\u093e\u0902 \u0939\u094b\u0928\u0947 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0930\u0939\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u092f\u0939 \u092e\u093e\u0928 \u0932\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0939\u092e\u0928\u0947 \u0905\u092a\u0928\u0947 \u0905\u0928\u0941\u092e\u093e\u0928\u094b\u0902 \u092e\u0947\u0902 \u0915\u0941\u091b \u0928 \u0915\u0941\u091b \u0917\u0932\u0924\u093f\u092f\u093e\u0902 \u0915\u0940 \u0939\u094b\u0902\u0917\u0940 \u0914\u0930 \u0909\u0928 \u0917\u0932\u0924\u093f\u092f\u094b\u0902 \u0915\u094b \u0938\u0941\u0927\u093e\u0930 \u0915\u0930 \u0939\u0940 \u0939\u092e\u0947\u0902 \u0907\u0902\u091f\u094d\u0930\u0928\u094d\u0938\u093f\u0915 \u0935\u0948\u0932\u094d\u092f\u0942 \u092f\u093e\u0928\u0940 \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964\u00a0 \u0917\u0932\u0924\u093f\u092f\u094b\u0902 \u0915\u093e \u0905\u0938\u0930 \u0915\u092e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u0915\u094b \u090f\u0915 \u092c\u0948\u0902\u0921 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u0947\u0916\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0924\u094c\u0930 \u092a\u0930 \u092e\u0948\u0902 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 10% \u090a\u092a\u0930 \u0914\u0930 10% \u0928\u0940\u091a\u0947 \u0939\u094b\u0928\u0947 \u0915\u0940 \u0917\u0941\u0902\u091c\u093e\u0907\u0936 \u0930\u0916\u0924\u093e \u0939\u0942\u0902\u0964", "\u090a\u092a\u0930 \u0915\u0940 \u0905\u092a\u0928\u0940 \u0917\u0923\u0928\u093e \u0915\u094b \u0926\u0947\u0916\u0947\u0902 \u0914\u0930 \u0909\u0938\u092e\u0947\u0902 \u092f\u0939 \u092b\u0949\u0930\u094d\u092e\u0942\u0932\u093e \u0932\u0917\u093e\u090f\u0902 \u0924\u094b :", "\u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u0915\u093e \u0928\u093f\u091a\u0932\u093e \u092c\u0948\u0902\u0921 \u0939\u094b\u0917\u093e = 368*(1-10%) = 331 \u0930\u0941\u092a\u092f\u0947", "\u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u0915\u093e \u090a\u092a\u0930\u0940 \u092c\u0948\u0902\u0921 \u0939\u094b\u0917\u093e = 405 \u0930\u0941\u092a\u092f\u0947", "\u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 368 \u0930\u0941\u092a\u092f\u0947 \u092e\u093e\u0928\u0928\u0947 \u0915\u0947 \u092c\u091c\u093e\u092f \u092e\u0948\u0902 \u092e\u093e\u0928\u0942\u0902\u0917\u093e \u0915\u093f \u0915\u0940\u092e\u0924 331 \u0914\u0930 405 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964", "\u0915\u0940\u092e\u0924 \u0915\u0947 \u0907\u0938 \u092c\u0948\u0902\u0921 \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0939\u092e \u0936\u0947\u092f\u0930 \u0915\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u093f\u0938\u0938\u0947 \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948 \u0915\u093f :", "\u0907\u0928 \u092c\u093e\u0924\u094b\u0902 \u0915\u093e \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0939\u092e \u090f\u0915 \u092c\u093e\u0930 \u0905\u092e\u093e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940\u091c \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 2 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b NSE \u0915\u0940 \u0935\u0947\u092c\u0938\u093e\u0907\u091f \u092a\u0930 \u0907\u0938 \u0915\u0940\u092e\u0924 \u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u0939\u092e \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0936\u0947\u092f\u0930 \u20b9726.70 \u092a\u0930 \u092c\u093f\u0915 \u0930\u0939\u093e \u0939\u0948 \u091c\u094b \u0915\u093f \u0936\u0947\u092f\u0930 \u0915\u0940 \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u0948\u0902\u0921 \u0938\u0947 \u0915\u093e\u092b\u0940 \u090a\u092a\u0930 \u0939\u0948\u0964 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u0907\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0936\u0947\u092f\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u093e \u0907\u0938\u0947 \u0915\u093e\u092b\u0940 \u090a\u0902\u091a\u0947 \u0935\u0948\u0932\u094d\u092f\u0942\u090f\u0936\u0928 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0915\u093e \u0928\u093f\u0935\u0947\u0936 \u090f\u0915 \u0927\u0940\u092e\u0940 \u091a\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u0917\u093e\u0921\u093c\u0940 \u0915\u0940 \u0924\u0930\u0939 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c\u0915\u093f \u090f\u0915\u094d\u091f\u093f\u0935 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0924\u0947\u091c \u091a\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u092c\u0941\u0932\u0947\u091f \u091f\u094d\u0930\u0947\u0928 \u0915\u0940 \u0924\u0930\u0939\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u091c\u092c \u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u093e \u092e\u094c\u0915\u093e \u0906\u0924\u093e \u0939\u0948 \u0924\u094b \u0935\u0939 \u092e\u094c\u0915\u093e \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0941\u091b \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u092c\u0928\u093e \u0930\u0939\u0924\u093e \u0939\u0948, \u0935\u0939 \u0905\u091a\u093e\u0928\u0915 \u0917\u093e\u092f\u092c \u0928\u0939\u0940\u0902 \u0939\u094b \u091c\u093e\u0924\u093e\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0939\u092e\u0947\u0902 \u092f\u0939\u093e\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u092e\u093e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940\u091c \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u093e \u0936\u0947\u092f\u0930 \u0913\u0935\u0930\u0935\u0948\u0932\u094d\u092f\u0942\u0921 \u0939\u0948 \u092f\u093e\u0928\u0940 \u092e\u0939\u0902\u0917\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u093f\u0915 \u0930\u0939\u093e \u0939\u0948\u0964 \u090f\u0915 \u0938\u093e\u0932 \u092a\u0939\u0932\u0947 \u092f\u0939\u0940 \u0936\u0947\u092f\u0930 \u090f\u0915 \u0905\u0932\u0917 \u0939\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092e\u093f\u0932 \u0930\u0939\u093e \u0925\u093e\u0964 \u0907\u0938 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u093f\u090f \u0914\u0930 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f ARBL \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u0915\u093e \u092c\u0948\u0902\u0921 \u20b9331 \u0938\u0947 \u20b9405 \u0915\u0947 \u092c\u0940\u091a \u0915\u093e \u0939\u0948\u0964", "", "\u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u090f \u0917\u090f \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092f\u0939 \u0936\u0947\u092f\u0930 \u0905\u092a\u0928\u0947 \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u0948\u0902\u0921 \u092e\u0947\u0902 5 \u092e\u0939\u0940\u0928\u0947 \u0924\u0915 \u091f\u093f\u0915\u093e \u0939\u0941\u0906 \u0925\u093e\u0964 \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u0909\u0938 \u0938\u092e\u092f \u0907\u0938 \u0936\u0947\u092f\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u093e \u0939\u094b\u0924\u093e \u0924\u094b \u092c\u0938 \u0906\u092a\u0915\u094b \u0936\u0947\u092f\u0930 \u0915\u094b \u0932\u0947\u0915\u0930 \u092d\u0942\u0932 \u091c\u093e\u0928\u093e \u0925\u093e \u0914\u0930 \u0905\u092c \u0906\u092a \u090f\u0915 \u0905\u091a\u094d\u091b\u0947 \u0916\u093e\u0938\u0947 \u0930\u093f\u091f\u0930\u094d\u0928 \u092a\u0930 \u092c\u0948\u0920\u0947 \u0939\u094b\u0924\u0947\u0964", "\u0936\u093e\u092f\u0926 \u0907\u0938\u0940\u0932\u093f\u090f \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u0947\u092f\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u092f\u093e \u092e\u0902\u0926\u0940 \u0915\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u091a\u0940\u091c\u0947\u0902 \u0905\u091a\u094d\u091b\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0938\u0928 2013 \u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u092e\u0902\u0926\u0940 \u0915\u0947 \u0926\u094c\u0930 \u092e\u0947\u0902 \u0925\u093e\u0964", "15.8- \u00a0\u0928\u093f\u0937\u094d\u0915\u0930\u094d\u0937", "\u092a\u093f\u091b\u0932\u0947 3 \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u0947 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0906\u092f\u093e\u092e\u094b\u0902 \u0915\u094b \u0926\u0947\u0916\u093e \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u092e\u0947\u0902 \u0906 \u0917\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0924\u0940\u0928 \u0905\u0932\u0917-\u0905\u0932\u0917 \u091a\u0930\u0923\u094b\u0902 \u092e\u0947\u0902 \u0926\u0947\u0916\u093e \u091c\u093e\u090f\u0964", "\u092a\u0939\u0932\u0947 \u091a\u0930\u0923 \u092e\u0947\u0902 \u0939\u092e \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0917\u0941\u0923\u0935\u0924\u094d\u0924\u093e \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u092e\u0947\u0902 \u0939\u092e \u0915\u092c,\u0915\u094d\u092f\u094b\u0902, \u0914\u0930 \u0915\u0948\u0938\u0947 \u091c\u0948\u0938\u0947 \u0938\u0935\u093e\u0932\u094b\u0902 \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u0947\u0930\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092f\u0939 \u092c\u0939\u0941\u0924 \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b\u0924\u093e \u0939\u0948 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u0947 \u0907\u0938 \u091a\u0930\u0923 \u092e\u0947\u0902 \u0905\u0917\u0930 \u0906\u092a \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0917\u0941\u0923\u0935\u0924\u094d\u0924\u093e \u0938\u0947 \u0938\u0902\u0924\u0941\u0937\u094d\u091f \u0928\u0939\u0940\u0902 \u0939\u0948 \u0924\u094b \u0906\u0917\u0947 \u0928\u0939\u0940\u0902 \u092c\u0922\u093c\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092e\u094c\u0915\u094b\u0902 \u0915\u0940 \u0915\u092e\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940 \u0907\u0938\u0932\u093f\u090f \u0915\u093f\u0938\u0940 \u092e\u094c\u0915\u0947 \u0915\u094b \u091c\u092c\u0930\u0926\u0938\u094d\u0924\u0940 \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u092a\u0939\u0932\u0947 \u091a\u0930\u0923 \u0915\u0947 \u0928\u0924\u0940\u091c\u094b\u0902 \u0938\u0947 \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0938\u0902\u0924\u0941\u0937\u094d\u091f \u0939\u094b \u091c\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092e\u0947\u0902 \u0926\u0942\u0938\u0930\u0947 \u091a\u0930\u0923 \u092e\u0947\u0902 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u091c\u0939\u093e\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u094d\u0930\u0926\u0930\u094d\u0936\u0928 \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u092e\u0948\u0902\u0928\u0947 \u091a\u0947\u0915 \u0932\u093f\u0938\u094d\u091f \u092c\u0928\u093e\u0908 \u0939\u0948 \u0914\u0930 \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u093e\u0908 \u0939\u0948\u0964 \u0935\u0939 \u092e\u0947\u0930\u0940 \u091a\u0947\u0915 \u0932\u093f\u0938\u094d\u091f \u0939\u0948 \u0914\u0930 \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u0939 \u090f\u0915 \u0905\u091a\u094d\u091b\u0940 \u091a\u0947\u0915 \u0932\u093f\u0938\u094d\u091f \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u092e\u0948\u0902 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0906\u092a \u0905\u092a\u0928\u0940 \u0916\u0941\u0926 \u0915\u0940 \u091a\u0947\u0915 \u0932\u093f\u0938\u094d\u091f \u092c\u0928\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u0909\u0938\u0947 \u0905\u092a\u0928\u0947 \u0924\u0930\u094d\u0915\u094b\u0902 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092c\u0928\u093e\u090f\u0902\u0917\u0947\u0964", "\u0926\u0942\u0938\u0930\u0947 \u091a\u0930\u0923 \u0915\u0947 \u092c\u093e\u0926 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0930\u093f\u0938\u0930\u094d\u091a \u0915\u093e \u0905\u0902\u0924\u093f\u092e \u092d\u093e\u0917 \u092e\u0947\u0902 \u0924\u0940\u0938\u0930\u093e \u091a\u0930\u0923 \u0906\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u0939\u092e \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0906\u0902\u0924\u0930\u093f\u0915 \u0915\u0940\u092e\u0924 \u092f\u093e \u0907\u0902\u091f\u094d\u0930\u093f\u0938\u093f\u0915 \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0907\u0938\u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0936\u0947\u092f\u0930 \u0915\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940\u092e\u0924 \u0907\u0902\u091f\u094d\u0930\u093f\u0938\u093f\u0915 \u0935\u0948\u0932\u094d\u092f\u0942 \u0938\u0947 \u0915\u092e \u0939\u0948 \u0924\u094b \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u092f\u0947 \u0936\u0947\u092f\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0905\u091a\u094d\u091b\u093e \u0938\u092e\u092f \u0939\u0948\u0964 \u0905\u0917\u0930 \u0924\u0940\u0928\u094b\u0902 \u091a\u0930\u0923 \u0906\u092a \u0915\u094b \u0938\u0902\u0924\u0941\u0937\u094d\u091f \u0915\u0930 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u094b \u0936\u0947\u092f\u0930 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0942\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u094b \u091a\u0941\u0915\u0940 \u0939\u0948 \u0914\u0930 \u0906\u092a \u0905\u092a\u0928\u093e \u092e\u0928 \u092c\u0928\u093e \u091a\u0941\u0915\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915 \u092c\u093e\u0930 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0909\u0938\u092e\u0947\u0902 \u092c\u0928\u0947 \u0930\u0939\u093f\u090f \u0914\u0930 \u0930\u094b\u091c-\u0930\u094b\u091c \u0915\u0940 \u0909\u0920\u093e\u092a\u091f\u0915 \u0938\u0947 \u092a\u0930\u0947\u0936\u093e\u0928 \u092e\u0924 \u0939\u094b\u0902\u0964", "\u092e\u0948\u0902\u0928\u0947 ARBL \u0915\u093e DCF \u092e\u0949\u0921\u0932 \u0915\u093e \u090f\u0915 \u090f\u0915\u094d\u0938\u0947\u0932\u0936\u0940\u091f \u092c\u0928\u093e\u092f\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 \u0906\u092a \u092f\u0939\u093e\u0902 \u0938\u0947 \u0921\u093e\u0909\u0928\u0932\u094b\u0921 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0926\u0942\u0938\u0930\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u0917\u0923\u0928\u093e \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "517.12*(1+3.5%)/(9%-3.5%)\nFormula??", "Hi Bhavesh, Formula \u092d\u0940 \u0917\u0923\u0928\u093e \u092d\u093e\u0917 \u0915\u0947 \u090a\u092a\u0930 \u0935\u093f\u0937\u092f 15.3 \u092e\u0947\u0902 \u0909\u0932\u094d\u0932\u093f\u0916\u093f\u0924 \u0939\u0948\u0964", "enjoying\u2026\u2026\u2026\u2026.", "Happy Learning \ud83d\ude42", "Thanks for such a wonderful article.one doubt was while calculating free cash flow, why you are not taking net cash flow from investing activities.you are taking purchase of tangible fixed asset value from ARBL FY-14 report. I am little confused.Kindly guide us.\nRegards", "namskar sir ji 2016-17 2017-18 2018-19\n 522.89 321.66 541.34 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0917\u0924\u093f\u0935\u093f\u0927\u093f \u0915\u093e \u0928\u0915\u0926 (\u0907\u0928\u0915\u092e \u091f\u0948\u0915\u094d\u0938 \u0915\u0947 \u092c\u093e\u0926)\n 438.10 386.61 528.47 \u092a\u0942\u0902\u091c\u0940\u0917\u0924 \u0916\u0930\u094d\u091a\n 87.79 -64.95 12.87 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b(FCF)\n\u0914\u0938\u0924 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 12.22 sir ji iss tarah se pura ans. galat aa raraha hai plz help kardo ki kisme galti ho rahi hai.", "\u0906\u092a \u0915\u094d\u092f\u093e \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902?", "ji jai se aapne bataya fcf nikala hai 2017 ;2018;2019 Cash from Operating Activities \u2013 Capital Expenditures 11.83 nikala tooAaraha hai iss vajah se Intrinsic Value galt hoo raha hai plz aap bata sakte hai kya ki jo maine\n 2016-17 2017-18 2018-19\n522.89 321.66 541.34 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0917\u0924\u093f\u0935\u093f\u0927\u093f \u0915\u093e \u0928\u0915\u0926 (\u0907\u0928\u0915\u092e \u091f\u0948\u0915\u094d\u0938 \u0915\u0947 \u092c\u093e\u0926)\n438.10 386.61 528.47 \u092a\u0942\u0902\u091c\u0940\u0917\u0924 \u0916\u0930\u094d\u091a\n87.79 -64.95 12.87 \u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b(FCF) 87.59-64.95+12.87=35.51 iska ausat 35.51/3=11.83 sirji ye amount aane ki vajah se Intrinsic Value galt hoo raha hai sir bataa sakte hai kahan mistake ho raha hai", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/12/M3-Ch15-title1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/12/M3-ch15-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/12/M3-ch15-chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/12/M3-ch15-chart3.jpg", "https://secure.gravatar.com/avatar/f0aa2d0b58339801b0fb34b97577824d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a1a8903b95ed3aa4a1461e2fc68d56bf?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1bcfe3f3ec4f9c1002e3eaecec38257b?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a70198e3b96bfc89db1e4b73be1f1a31?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a70198e3b96bfc89db1e4b73be1f1a31?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: center;\"><b>\u0935\u093f\u0935\u0930\u0923</b></p>\n</td>\n<td style=\"text-align: center;\"><b>2011 -12</b></td>\n<td style=\"text-align: center;\"><b>2012 -13</b></td>\n<td>\n<p style=\"text-align: center;\"><b>2013 -14</b></p>\n</td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0917\u0924\u093f\u0935\u093f\u0927\u093f \u0915\u093e \u0928\u0915\u0926</span><span style=\"font-weight: 400;\"> (</span><span style=\"font-weight: 400;\">\u0907\u0928\u0915\u092e \u091f\u0948\u0915\u094d\u0938 \u0915\u0947 \u092c\u093e\u0926</span><span style=\"font-weight: 400;\">)</span></td>\n<td><span style=\"font-weight: 400;\">296.28</span><span style=\"font-weight: 400;\"> \u0915\u0930\u094b\u0921\u093c</span></td>\n<td><span style=\"font-weight: 400;\">Rs.335.46</span></td>\n<td><span style=\"font-weight: 400;\">Rs.278.7</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u092a\u0942\u0902\u091c\u0940\u0917\u0924 \u0916\u0930\u094d\u091a</span></td>\n<td><span style=\"font-weight: 400;\">Rs.86.58</span></td>\n<td><span style=\"font-weight: 400;\">Rs.72.47</span></td>\n<td><span style=\"font-weight: 400;\">Rs.330.3</span></td>\n</tr>\n<tr>\n<td><b>\u092b\u094d\u0930\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b</b><b>(FCF)</b></td>\n<td><b>Rs.209.7</b></td>\n<td><b>Rs.262.99</b></td>\n<td><b>(Rs.51.6)</b></td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<td><b>\u0915\u094d\u0930\u092e \u0938\u0902</b></td>\n<td><b>\u0935\u0930\u094d\u0937</b></td>\n<td><b>\u092c\u0922\u0924 \u0915\u0940 \u0905\u0928\u0941\u092e\u093e\u0928\u093f\u0924 \u0926\u0930</b></td>\n<td><b>\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b </b><b>(</b><b>\u0930\u0942</b><b>. </b><b>\u0915\u0930\u094b\u0921\u093c</b><b>)</b></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">01</span></td>\n<td><span style=\"font-weight: 400;\">2014 \u2013 15</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">165.62</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">02</span></td>\n<td><span style=\"font-weight: 400;\">2015 \u2013 16</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">195.43</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">03</span></td>\n<td><span style=\"font-weight: 400;\">2016 \u2013 17</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">230.61</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">04</span></td>\n<td><span style=\"font-weight: 400;\">2017 \u2013 18</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">272.12</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">05</span></td>\n<td><span style=\"font-weight: 400;\">2018 \u2013 19</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">321.10</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">06</span></td>\n<td><span style=\"font-weight: 400;\">2019 \u2013 20</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">353.21</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">07</span></td>\n<td><span style=\"font-weight: 400;\">2020 \u2013 21</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">388.53</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">08</span></td>\n<td><span style=\"font-weight: 400;\">2021 \u2013 22</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">427.38</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">09</span></td>\n<td><span style=\"font-weight: 400;\">2022 \u2013 23</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">470.11</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">10</span></td>\n<td><span style=\"font-weight: 400;\">2023 \u2013 24</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">517.12</span></td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<td><b>\u0915\u094d\u0930\u0902</b></td>\n<td><b>\u0935\u0930\u094d\u0937</b></td>\n<td><b>\u092c\u0922\u0924 \u0915\u0940 \u0926\u0930</b></td>\n<td><span style=\"font-weight: 400;\">\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b</span><b> (</b><span style=\"font-weight: 400;\">\u0915\u0930\u094b\u0921\u093c \u0930\u0942</span><b>)</b></td>\n<td><span style=\"font-weight: 400;\">\u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942</span><b> (</b><span style=\"font-weight: 400;\">\u0915\u0930\u094b\u0921\u093c \u0930\u0942</span><b>)</b></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1</span></td>\n<td><span style=\"font-weight: 400;\">2014 \u2013 15</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">165.62</span></td>\n<td><span style=\"font-weight: 400;\">151.94</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2</span></td>\n<td><span style=\"font-weight: 400;\">2015 \u2013 16</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">195.29</span></td>\n<td><span style=\"font-weight: 400;\">164.37</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3</span></td>\n<td><span style=\"font-weight: 400;\">2016 \u2013 17</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">230.45</span></td>\n<td><span style=\"font-weight: 400;\">177.94</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4</span></td>\n<td><span style=\"font-weight: 400;\">2017 \u2013 18</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">271.93</span></td>\n<td><span style=\"font-weight: 400;\">192.72</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">5</span></td>\n<td><span style=\"font-weight: 400;\">2018 \u2013 19</span></td>\n<td><span style=\"font-weight: 400;\">18%</span></td>\n<td><span style=\"font-weight: 400;\">320.88</span></td>\n<td><span style=\"font-weight: 400;\">208.63</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">6</span></td>\n<td><span style=\"font-weight: 400;\">2019 \u2013 20</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">352.96</span></td>\n<td><span style=\"font-weight: 400;\">210.54</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">7</span></td>\n<td><span style=\"font-weight: 400;\">2020 \u2013 21</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">388.26</span></td>\n<td><span style=\"font-weight: 400;\">212.48</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">8</span></td>\n<td><span style=\"font-weight: 400;\">2021 \u2013 22</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">427.09</span></td>\n<td><span style=\"font-weight: 400;\">214.43</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">9</span></td>\n<td><span style=\"font-weight: 400;\">2022 \u2013 23</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">470.11</span></td>\n<td><span style=\"font-weight: 400;\">216.55</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">10</span></td>\n<td><span style=\"font-weight: 400;\">2023 \u2013 24</span></td>\n<td><span style=\"font-weight: 400;\">10%</span></td>\n<td><span style=\"font-weight: 400;\">517.12</span></td>\n<td><span style=\"font-weight: 400;\">218.54</span></td>\n</tr>\n<tr>\n<td colspan=\"4\"><span style=\"font-weight: 400;\">\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0915\u0940 \u0928\u0947\u091f \u092a\u094d\u0930\u0947\u091c\u0947\u0902\u091f \u0935\u0948\u0932\u094d\u092f\u0942</span><span style=\"font-weight: 400;\"> (NPV)\u00a0</span></td>\n<td><span style=\"font-weight: 400;\">Rs.1968.14 Crs</span></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "2. \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0940 \u0938\u094b\u091a", "text": ["\u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0906\u092a \u0928\u093f\u0935\u0947\u0936 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u092f\u093e \u0938\u091f\u094d\u091f\u093e \u0932\u0917\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0906\u092a \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a \u0907\u0928 \u0924\u0940\u0928\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u0915\u094c\u0928 \u0938\u093e \u0930\u093e\u0938\u094d\u0924\u093e \u0905\u092a\u0928\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940 \u092b\u0948\u0938\u0932\u0947 \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0947\u0917\u093e \u0915\u093f \u0906\u092a\u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u093f\u0924\u0928\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0939\u094b\u0917\u093e \u092f\u093e \u0915\u093f\u0924\u0928\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0917\u093e\u0964", "", "\u0907\u0938\u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964", "RBI \u092f\u093e\u0928\u0940 \u0930\u093f\u091c\u0930\u094d\u0935 \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e \u0905\u0917\u0932\u0947 2 \u0926\u093f\u0928\u094b\u0902 \u092e\u0947\u0902 \u0905\u092a\u0928\u0940 \u092e\u0941\u0926\u094d\u0930\u093e \u0928\u0940\u0924\u093f (Monetary Policy) \u0915\u0940 \u0918\u094b\u0937\u0923\u093e \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948\u0964 \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f (Inflation) \u0915\u0940 \u0926\u0930 \u0915\u093e \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0928\u0947 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 RBI \u092a\u093f\u091b\u0932\u0940 \u091a\u093e\u0930 \u092c\u093e\u0930 \u092e\u0941\u0926\u094d\u0930\u093e \u0928\u0940\u0924\u093f\u092f\u094b\u0902 \u092e\u0947\u0902 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u0947\u0902 \u092c\u0922\u093c\u093e \u091a\u0941\u0915\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u0947\u0902 \u092c\u0922\u093c\u0928\u0947 \u0938\u0947 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u092a\u0948\u0926\u093e \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0928\u0915\u0940 \u0915\u092e\u093e\u0908 \u092a\u0930 \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964", "\u0905\u092c \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f 3 \u0932\u094b\u0917 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0939\u093f\u0938\u094d\u0938\u093e \u0932\u0947\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0938\u0941\u0928\u0940\u0932, \u0924\u0930\u0941\u0923 \u0914\u0930 \u0917\u093f\u0930\u0940\u0936\u0964 \u0924\u0940\u0928\u094b\u0902 \u0907\u0938 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0940 \u0918\u091f\u0928\u093e \u0915\u094b \u0905\u0932\u0917\u2013\u0905\u0932\u0917 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902, \u0907\u0938\u0940\u0932\u093f\u090f \u0924\u0940\u0928\u094b\u0902 \u0905\u0932\u0917\u2013\u0905\u0932\u0917 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0915\u0926\u092e \u0909\u0920\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u0907\u090f \u0909\u0928\u0915\u0940 \u0938\u094b\u091a \u0915\u094b \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092f\u0939\u093e\u0902 \u092e\u0948\u0902 \u0911\u092a\u094d\u0936\u0928 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092d\u0940 \u092c\u093e\u0924 \u0915\u0930\u0942\u0902\u0917\u093e \u0932\u0947\u0915\u093f\u0928 \u0906\u092a \u0915\u094b \u0938\u092e\u091d\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0907\u0938 \u092a\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091a\u0930\u094d\u091a\u093e \u0906\u0917\u0947 \u0915\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0915\u0940 \u091c\u093e\u090f\u0917\u0940\u0964", "", "\u0938\u0941\u0928\u0940\u0932 \u0915\u0940 \u092a\u0942\u0930\u0947 \u092e\u093e\u0939\u094c\u0932 \u0905\u092a\u0928\u0940 \u0930\u093e\u092f \u0939\u0948\u0964 \u0909\u0938\u0915\u093e \u092e\u093e\u0928\u0928\u093e \u0939\u0948 \u0915\u093f:", "\u0907\u0928 \u0935\u093f\u091a\u093e\u0930\u094b\u0902 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0935\u0939 \u0938\u094d\u091f\u0947\u091f \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e \u0915\u093e \u0915\u0949\u0932 \u0911\u092a\u094d\u0936\u0928 \u0916\u0930\u0940\u0926\u0924\u093e \u0939\u0948\u0964", "", "\u0924\u0930\u0941\u0923 \u0915\u0940 \u0935\u093f\u091a\u093e\u0930 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0925\u094b\u0921\u093c\u0940 \u0905\u0932\u0917 \u0939\u0948, \u0924\u0930\u0941\u0923 \u092e\u093e\u0928\u0924\u093e \u0939\u0948 \u0915\u093f:", "\u0905\u092a\u0928\u0947 \u0907\u0928 \u0935\u093f\u091a\u093e\u0930\u094b\u0902 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0935\u094b \u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u0949\u0932 \u0911\u092a\u094d\u0936\u0928 \u0915\u0947 \u092a\u093e\u0901\u091a \u0932\u0949\u091f \u0916\u0930\u0940\u0926\u0924\u093e \u0939\u0948 \u0914\u0930 \u091c\u0948\u0938\u0947 \u0939\u0940 RBI \u0918\u094b\u0937\u0923\u093e \u0915\u0930\u0947\u0917\u0940, \u0935\u094b \u0907\u0938 \u0932\u0949\u091f \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e \u0930\u0916\u0924\u093e \u0939\u0948\u0964", "", "\u0917\u093f\u0930\u0940\u0936: \u00a0\u0917\u093f\u0930\u0940\u0936 \u0915\u0947 \u092a\u093e\u0938 12 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u0915\u093e \u090f\u0915 \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u0939\u0948 \u091c\u093f\u0938\u0915\u094b \u0909\u0938\u0928\u0947 2 \u0938\u093e\u0932 \u0938\u0947 \u0939\u094b\u0932\u094d\u0921 \u0915\u0930 \u0930\u0916\u093e \u0939\u0948\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0935\u0939 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092a\u0930 \u0915\u0930\u0940\u092c\u0940 \u0928\u091c\u0930 \u0930\u0916\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 RBI \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0917\u093e \u0907\u0938 \u092a\u0930 \u0909\u0938\u0915\u093e \u0915\u094b\u0908 \u0935\u093f\u091a\u093e\u0930 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0935\u094b \u0907\u0938\u0915\u094b \u0932\u0947 \u0915\u0930 \u091a\u093f\u0902\u0924\u093f\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0915\u093f \u092a\u0949\u0932\u093f\u0938\u0940 \u0938\u0947 \u0915\u094d\u092f\u093e \u0928\u093f\u0915\u0932\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u0939 \u091c\u093e\u0928\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u0939 \u0905\u092a\u0928\u0947 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u0915\u094b \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u0930\u0916\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e \u0930\u0916\u0924\u093e \u0939\u0948\u0964 \u0909\u0938\u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092e\u0941\u0926\u094d\u0930\u093e \u0928\u0940\u0924\u093f \u090f\u0915 \u091b\u094b\u091f\u0947 \u0938\u092e\u092f \u0915\u0940 \u0918\u091f\u0928\u093e \u0939\u0948 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u092a\u0930 \u0907\u0938\u0915\u093e \u0915\u094b\u0908 \u0905\u0938\u0930 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0947\u0917\u093e \u0914\u0930 \u0905\u0917\u0930 \u0909\u0938\u0915\u0947 \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u092a\u0930 \u0915\u094b\u0908 \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u092d\u0940 \u0939\u0948 \u0924\u094b \u0909\u0938\u0915\u0947 \u092a\u093e\u0938 \u0938\u092e\u092f \u092d\u0940 \u0939\u0948 \u0914\u0930 \u0927\u0940\u0930\u091c \u092d\u0940\u0964 \u0935\u0939 \u0905\u092a\u0928\u0947 \u0936\u0947\u092f\u0930 \u0915\u094b \u0939\u094b\u0932\u094d\u0921 \u0915\u0930\u0947\u0917\u093e\u0964", "\u0910\u0938\u0947 \u092e\u0947\u0902 \u0917\u093f\u0930\u0940\u0936 \u0924\u092f \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 RBI \u0915\u0947 \u092b\u0948\u0938\u0932\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b\u0908 \u092c\u0921\u093c\u0940 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e \u0926\u0947\u0924\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u0947 \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u0935\u093e\u0932\u0947 \u0936\u0947\u092f\u0930 \u0917\u093f\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0935\u094b \u0909\u0928 \u0936\u0947\u092f\u0930\u094b\u0902 \u092e\u0947\u0902 \u0914\u0930 \u0916\u0930\u0940\u0926\u093e\u0930\u0940 \u0915\u0930\u0947\u0917\u093e\u0964", "\u092f\u0939\u093e\u0902 \u092a\u0930 \u0939\u092e \u0907\u0938 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0928\u0939\u0940\u0902 \u0926\u0947 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f RBI \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u094d\u092f\u093e \u0906\u0924\u093e \u0939\u0948 \u0914\u0930 \u0924\u0940\u0928\u094b\u0902 \u092e\u0947\u0902 \u0915\u094c\u0928 \u092a\u0948\u0938\u0947 \u092c\u0928\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u0939\u092e \u092a\u0939\u091a\u093e\u0928\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u094c\u0928 \u091f\u094d\u0930\u0947\u0921\u0930 \u0939\u0948, \u0915\u094c\u0928 \u0928\u093f\u0935\u0947\u0936\u0915 \u0939\u0948 \u0914\u0930 \u0915\u094c\u0928 \u0938\u091f\u094d\u091f\u0947\u092c\u093e\u091c\u0940 \u0915\u0930 \u0930\u0939\u093e \u0939\u0948\u0964 \u0924\u0940\u0928\u094b\u0902 \u0915\u0947 \u0905\u092a\u0928\u0947-\u0905\u092a\u0928\u0947 \u0924\u0930\u094d\u0915 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0935\u0939\u00a0 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u092b\u0948\u0938\u0932\u0947 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0915\u093f \u0915\u0941\u091b \u0928\u093e \u0915\u0930\u0928\u0947 \u0915\u093e \u0917\u093f\u0930\u0940\u0936 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u092d\u0940 \u090f\u0915 \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u091c\u0941\u0921\u093c\u093e \u0939\u0941\u0906 \u092b\u0948\u0938\u0932\u093e \u0939\u0948\u0964", "\u0938\u0941\u0928\u0940\u0932 \u0932\u0917\u092d\u0917 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0939\u0948 \u0915\u093f RBI \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0917\u093e \u0914\u0930 \u0935\u094b \u0930\u0947\u091f \u0915\u092e \u0939\u094b\u0928\u0947 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0905\u092a\u0928\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0938\u091a\u094d\u091a\u093e\u0908 \u0924\u094b \u092f\u0939 \u0939\u0948 \u0915\u093f \u0915\u094b\u0908 \u092d\u0940 \u0930\u0947\u0917\u0941\u0932\u0947\u091f\u0930 \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0917\u093e \u0914\u0930 \u0916\u093e\u0938\u0915\u0930 \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 RBI \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0917\u093e \u0907\u0938\u0915\u094b \u092c\u0924\u093e \u092a\u093e\u0928\u093e \u090f\u0915 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0915\u093e\u092e \u0939\u0948\u0964 RBI \u0915\u0947 \u0915\u093e\u092e \u0915\u093e\u091c \u0915\u0940 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0930\u0928\u093e \u0907\u0924\u0928\u093e \u0906\u0938\u093e\u0928 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u092c\u093f\u0928\u093e \u0915\u093f\u0938\u0940 \u0924\u0930\u094d\u0915 \u0915\u0947 \u092f\u0939 \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0928\u093e \u0915\u093f \u0930\u0947\u091f \u0915\u091f \u0939\u094b\u0917\u093e \u0938\u093f\u0930\u094d\u092b \u0938\u091f\u094d\u091f\u0947\u092c\u093e\u091c\u0940 \u0939\u0948\u0964 \u0938\u0941\u0928\u0940\u0932 \u092f\u0939\u0940 \u0915\u0930 \u0930\u0939\u093e \u0939\u0948\u0964", "\u0924\u0930\u0941\u0923 \u090f\u0915 \u092f\u094b\u091c\u0928\u093e \u0915\u0947 \u0924\u0939\u0924 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u093e \u0939\u0948\u0964 \u0909\u0938\u0947 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u0911\u092a\u094d\u0936\u0928 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092e\u093f\u0932 \u0930\u0939\u0947 \u0939\u093e\u0908 \u0911\u092a\u094d\u0936\u0928 \u092a\u094d\u0930\u0940\u092e\u093f\u092f\u092e \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0909\u0920\u093e \u0915\u0930 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0935\u094b \u0907\u0938 \u092a\u0930 \u0915\u094b\u0908 \u0926\u093e\u0902\u0935 \u0928\u0939\u0940\u0902 \u0932\u0917\u093e \u0930\u0939\u093e \u0915\u093f RBI \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0917\u093e \u0914\u0930 \u0909\u0938\u0947 \u0907\u0938\u0938\u0947 \u0915\u094b\u0908 \u092b\u0930\u094d\u0915 \u0939\u0940 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e\u0964 \u0909\u0938\u0915\u093e \u0907\u0930\u093e\u0926\u093e \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0935\u094b\u0932\u0948\u091f\u093f\u0932\u093f\u091f\u0940 \u0915\u093e\u092b\u0940 \u0939\u0948 \u0914\u0930 \u0911\u092a\u094d\u0936\u0928 \u0938\u0947\u0932\u0930 \u0915\u094b \u092a\u094d\u0930\u0940\u092e\u093f\u092f\u092e \u0905\u091a\u094d\u091b\u0947 \u092e\u093f\u0932 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0909\u0938\u0947 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f RBI \u0915\u0947 \u092b\u0948\u0938\u0932\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0935\u094b\u0932\u0948\u091f\u093f\u0932\u093f\u091f\u0940 \u092e\u0947\u0902 \u0915\u092e\u0940 \u0906\u090f\u0917\u0940\u0964", "\u0915\u094d\u092f\u093e \u0935\u0939 \u0907\u0938 \u092a\u0930 \u0938\u091f\u094d\u091f\u093e \u0928\u0939\u0940\u0902 \u0932\u0917\u093e \u0930\u0939\u093e \u0915\u093f \u0935\u093e\u0932\u093e \u0935\u094b\u0932\u0948\u091f\u093f\u0932\u093f\u091f\u0940 \u0917\u093f\u0930\u0947\u0917\u0940?? \u0928\u0939\u0940\u0902, \u092c\u093f\u0932\u094d\u0915\u0941\u0932 \u0928\u0939\u0940\u0902\u0964 \u0935\u0939 \u0905\u092a\u0928\u0947 \u092a\u0941\u0930\u093e\u0928\u0947 \u0905\u0928\u0941\u092d\u0935 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092f\u0939 \u092e\u093e\u0928 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u0910\u0938\u093e \u0939\u094b\u0917\u093e\u0964 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u092f\u094b\u091c\u0928\u093e\u092c\u0926\u094d\u0927 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0915\u0930\u0924\u093e \u0939\u0948 \u0914\u0930 \u0938\u091f\u094d\u091f\u093e \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u093e\u0964", "\u0926\u0942\u0938\u0930\u0940 \u0924\u0930\u092b \u0917\u093f\u0930\u0940\u0936 \u090f\u0915 \u0928\u093f\u0935\u0947\u0936\u0915 \u0939\u0948\u0964 \u0935\u094b \u0907\u0938\u0938\u0947 \u091c\u0930\u093e \u092d\u0940 \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0915\u093f RBI \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0917\u093e? \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u091b\u094b\u091f\u0947 \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u0936\u094b\u0930 \u092e\u091a\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0918\u091f\u0928\u093e \u0939\u0948, \u091c\u093f\u0938\u0915\u093e \u0909\u0938\u0915\u0947 \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u092a\u0930 \u0915\u094b\u0908 \u092c\u0921\u093c\u093e \u0905\u0938\u0930 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0947\u0917\u093e \u0914\u0930 \u0905\u0917\u0930 \u0905\u0938\u0930 \u092a\u0921\u093c\u0947\u0917\u093e \u092d\u0940 \u0924\u094b \u0909\u0938\u0915\u093e \u092e\u093e\u0928\u0928\u093e \u0939\u0948 \u0915\u093f \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u0938\u092e\u092f \u092e\u0947\u0902 \u0909\u0938\u0915\u093e \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u0907\u0938 \u091d\u091f\u0915\u0947 \u0938\u0947 \u0909\u092c\u0930 \u091c\u093e\u090f\u0917\u093e\u0964 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u091a\u0940\u091c \u092b\u093e\u092f\u0926\u093e \u0926\u093f\u0932\u093e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0935\u0939 \u0939\u0948\u2013 \u0938\u092e\u092f \u0914\u0930 \u0917\u093f\u0930\u0940\u0936 \u0907\u0938\u0915\u093e \u092a\u0942\u0930\u093e \u092b\u093e\u092f\u0926\u093e \u0909\u0920\u093e\u0928\u0947 \u0915\u0940 \u0924\u0948\u092f\u093e\u0930\u0940 \u092e\u0947\u0902 \u0939\u0948\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0905\u0917\u0930 \u092c\u093e\u091c\u093e\u0930 \u0917\u093f\u0930\u0924\u093e \u0939\u0948 \u0924\u094b \u0935\u0939 \u0905\u092a\u0928\u0947 \u092a\u094b\u0930\u094d\u091f\u092b\u094b\u0932\u093f\u092f\u094b \u0936\u0947\u092f\u0930 \u0914\u0930 \u0916\u0930\u0940\u0926\u093e\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f \u0907\u091a\u094d\u091b\u0941\u0915 \u0939\u0948\u0964 \u0909\u0938\u0915\u093e \u0907\u0930\u093e\u0926\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0935\u0939 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0924\u0915 \u091f\u093f\u0915\u093e \u0930\u0939\u0947\u0917\u093e \u0914\u0930 \u091b\u094b\u091f\u0947 \u0938\u0947 \u0938\u092e\u092f \u0915\u0947 \u0909\u0920\u093e\u092a\u091f\u0915 \u0938\u0947 \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964", "\u0907\u0928 \u0924\u0940\u0928\u094b\u0902 \u0915\u0940 \u0905\u092a\u0928\u0940 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0935\u093f\u091a\u093e\u0930\u0927\u093e\u0930\u093e\u090f\u0902 \u0939\u0948\u0902 \u091c\u094b \u0909\u0928\u0915\u094b \u0905\u0932\u0917-\u0905\u0932\u0917 \u092b\u0948\u0938\u0932\u0947 \u0932\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0915\u0930\u0924\u0940 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u0938\u092e\u091d\u0947\u0902\u0917\u0947 \u0915\u093f \u0917\u093f\u0930\u0940\u0936 \u091c\u094b \u0915\u093f \u090f\u0915 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0915\u093e \u0928\u093f\u0935\u0947\u0936\u0915 \u0939\u0948 \u0935\u0939 \u091b\u094b\u091f\u0947 \u0938\u092e\u092f \u0915\u0947 \u0909\u0920\u093e\u092a\u091f\u0915 \u0938\u0947 \u0915\u094d\u092f\u094b\u0902 \u0928\u0939\u0940\u0902 \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0917\u093f\u0930\u0940\u0936 \u0928\u0947 \u0905\u092a\u0928\u0947 \u0928\u093f\u0935\u0947\u0936 \u092e\u0947\u0902 \u092c\u0928\u0947 \u0930\u0939\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u094d\u092f\u094b\u0902 \u0915\u093f\u092f\u093e \u0914\u0930 \u091b\u094b\u091f\u0947 \u0938\u092e\u092f \u0915\u0947 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u0909\u0920\u093e\u092a\u091f\u0915 \u0915\u0947 \u092c\u093e\u0935\u091c\u0942\u0926 \u0909\u0938\u0928\u0947 \u0915\u094b\u0908 \u0915\u0926\u092e \u0915\u094d\u092f\u094b\u0902 \u0928\u0939\u0940\u0902 \u0909\u0920\u093e\u092f\u093e? \u092f\u0939 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u0938\u092e\u091d\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u092a\u0948\u0938\u093e \u0915\u0902\u092a\u093e\u0909\u0902\u0921 \u0915\u0948\u0938\u0947 \u0939\u094b\u0924\u093e \u0939\u0948? \u0938\u0930\u0932 \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0915\u0902\u092a\u093e\u0909\u0902\u0921\u093f\u0902\u0917 \u0915\u093e \u0905\u0930\u094d\u0925 \u092f\u0939 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u092a\u0939\u0932\u0947 \u0938\u093e\u0932 \u0915\u0940 \u0915\u092e\u093e\u0908 \u0915\u094b \u0905\u0917\u0930 \u0926\u0942\u0938\u0930\u0947 \u0938\u093e\u0932 \u092e\u0947\u0902 \u092b\u093f\u0930 \u0938\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930 \u0926\u093f\u092f\u093e \u091c\u093e\u090f \u0924\u094b \u092a\u0948\u0938\u093e \u0924\u0947\u091c\u0940 \u0938\u0947 \u092c\u0922\u093c\u0924\u093e \u0939\u0948\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092f\u0939 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a \u0928\u0947 \u20b9100 \u0928\u093f\u0935\u0947\u0936 \u0915\u093f\u090f \u0939\u0948\u0902 \u091c\u094b \u0915\u093f 20% \u0915\u0940 \u0930\u092b\u094d\u0924\u093e\u0930 \u0938\u0947 \u0939\u0930 \u0938\u093e\u0932 \u092c\u0922\u093c\u0928\u0947 \u0939\u0948\u0902\u0964 (\u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u0907\u0938\u0947 \u0938\u0940\u090f\u091c\u0940\u0906\u0930- CAGR \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902)\u0964 \u092a\u0939\u0932\u0947 \u0938\u093e\u0932 \u0915\u0947 \u0905\u0902\u0924 \u092e\u0947\u0902 \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u20b9120 \u0939\u094b \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u0905\u092c \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u0926\u094b \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u0948\u0902:", "\u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u0905\u092a\u0928\u0947 \u20b920 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0909\u0938 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0938\u093e\u0925 \u0930\u0939\u0928\u0947 \u0926\u093f\u092f\u093e \u0924\u094b \u0926\u0942\u0938\u0930\u0947 \u0938\u093e\u0932 \u0915\u0947 \u0905\u0902\u0924 \u0924\u0915 \u0906\u092a\u0915\u093e \u20b9120 \u092c\u0922\u093c\u0915\u0930 \u20b9144 \u0939\u094b \u091c\u093e\u090f\u0917\u093e \u0914\u0930 \u0924\u0940\u0938\u0930\u0947 \u0938\u093e\u0932 \u0915\u0947 \u0905\u0902\u0924 \u0924\u0915 \u20b9144 \u092c\u0922\u093c\u0915\u0930 \u20b9173 \u0914\u0930 \u092f\u0939 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u092c\u0922\u093c\u0924\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u0905\u092c \u0907\u0938\u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u0915\u0940\u091c\u093f\u090f \u20b920 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0928\u093f\u0915\u093e\u0932 \u0932\u0947\u0928\u0947 \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u0940 \u0938\u0947\u0964 \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u20b920 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0928\u093f\u0915\u093e\u0932 \u0932\u093f\u092f\u093e \u0939\u094b\u0924\u093e \u0914\u0930 \u0939\u0930 \u0938\u093e\u0932 \u092d\u0940 \u0906\u092a \u0907\u0938\u0947 \u0928\u093f\u0915\u093e\u0932\u0924\u0947 \u0930\u0939\u0924\u0947 \u0924\u094b \u0924\u0940\u0938\u0930\u0947 \u0938\u093e\u0932 \u0924\u0915 \u0906\u092a\u0915\u094b \u20b960 \u092e\u093f\u0932\u0924\u0947 \u0939\u0948\u0902, \u091c\u092c\u0915\u093f \u0928\u093f\u0935\u0947\u0936\u0915 \u0930\u0939\u0915\u0930 \u0924\u0940\u0938\u0930\u0947 \u0938\u093e\u0932 \u0915\u0947 \u0905\u0902\u0924 \u092e\u0947\u0902 \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u20b9173 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u092f\u093e\u0928\u0940 \u0906\u092a\u0915\u094b \u0915\u0941\u0932 \u20b913 \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u094b \u0930\u0939\u093e \u0925\u093e \u091c\u094b 60 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 21.7% \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0924\u093e\u0964 \u0910\u0938\u093e \u0938\u093f\u0930\u094d\u092b \u0907\u0938\u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0915\u093f \u0906\u092a\u0928\u0947 \u0905\u092a\u0928\u093e \u092a\u0948\u0938\u093e \u0935\u0939\u093e\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u091b\u094b\u0921\u093c \u0926\u093f\u092f\u093e \u0925\u093e\u0964 \u0907\u0938\u0940 \u0915\u094b \u0915\u0902\u092a\u093e\u0909\u0902\u0921\u093f\u0902\u0917 \u0915\u093e \u0905\u0938\u0930 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u0905\u092c \u0907\u0938\u0915\u094b \u0914\u0930 \u0925\u094b\u0921\u093c\u093e \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902", "", "\u092f\u0947 \u091a\u093e\u0930\u094d\u091f \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u20b9100 \u0915\u093e \u0928\u093f\u0935\u0947\u0936 20% \u0915\u0940 \u0926\u0930 \u0938\u0947 10 \u0938\u093e\u0932 \u092e\u0947\u0902 \u092c\u0922\u093c \u0915\u0930 \u0915\u093f\u0924\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0906\u092a \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u093f \u20b9100, 6 \u0938\u093e\u0932 \u092e\u0947\u0902 \u20b9300 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u092c\u0915\u093f 300 \u0938\u0947 600 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u0928\u0947 \u092e\u0947\u0902 \u0938\u0947 \u0938\u093f\u0930\u094d\u092b 4 \u0938\u093e\u0932 \u0932\u0917\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0915\u0902\u092a\u093e\u0909\u0902\u0921\u093f\u0902\u0917 \u0915\u0940 \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092c\u093e\u0924 \u0939\u0948 \u0906\u092a \u091c\u093f\u0924\u0928\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0947\u0902\u0917\u0947 \u0906\u092a\u0915\u093e \u092a\u0948\u0938\u093e \u0909\u0924\u0928\u0940 \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0924\u0947\u091c\u0940 \u0938\u0947 \u092c\u0922\u093c\u0947\u0917\u093e\u0964 \u0917\u093f\u0930\u0940\u0936 \u0928\u0947 \u0907\u0938\u0932\u093f\u090f \u0928\u093f\u0935\u0947\u0936\u0915 \u0930\u0939\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u093f\u092f\u093e \u0925\u093e \u0914\u0930 \u0938\u092e\u092f \u0915\u0947 \u0907\u0938 \u092b\u093e\u092f\u0926\u0947 \u0915\u094b \u0909\u0920\u093e\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u0925\u0940\u0964 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0930 \u0928\u093f\u0935\u0947\u0936 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u091b\u094b\u0921\u093c \u0926\u093f\u092f\u093e \u091c\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u090f\u0915 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u094b \u092f\u0939 \u0935\u093f\u091a\u093e\u0930\u0927\u093e\u0930\u093e \u0905\u092a\u0928\u093e\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964", "\u0906\u092a \u090f\u0915 \u092a\u094c\u0927\u0947 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u094b\u091a\u093f\u090f\u0964 \u0905\u0917\u0930 \u0906\u092a \u0909\u0938\u0947 \u092a\u093e\u0928\u0940, \u0916\u093e\u0926 \u0914\u0930 \u0938\u092e\u092f \u0926\u0947\u0902\u0917\u0947 \u0924\u094b \u0915\u094d\u092f\u093e \u0935\u0939 \u092c\u0922\u093c\u0947\u0917\u093e? \u092c\u093f\u0932\u094d\u0915\u0941\u0932 \u092c\u0922\u093c\u0947\u0917\u093e! \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u090f\u0915 \u0905\u091a\u094d\u091b\u0947 \u092c\u093f\u091c\u0928\u0947\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u094b\u091a\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0905\u0917\u0930 \u0909\u0938\u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0905\u091a\u094d\u091b\u0940 \u0939\u094b \u0930\u0939\u0940 \u0939\u094b, \u092e\u0941\u0928\u093e\u092b\u093e \u0905\u091a\u094d\u091b\u093e \u0939\u094b \u0930\u0939\u093e \u0939\u094b, \u0928\u090f \u092a\u094d\u0930\u094b\u0921\u0915\u094d\u091f \u0906 \u0930\u0939\u0947 \u0939\u094b \u0914\u0930 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0905\u091a\u094d\u091b\u093e \u0939\u094b \u0924\u094b \u0909\u0938 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0936\u0947\u092f\u0930 \u092d\u0940 \u091c\u0930\u0942\u0930 \u092c\u0922\u093c\u0947\u0917\u093e\u0964 \u0915\u0941\u091b \u092e\u093e\u092e\u0932\u094b\u0902 \u092e\u0947\u0902 \u0907\u0938 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u092e\u0947\u0902 \u0926\u0947\u0930\u0940 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948 (\u092f\u093e\u0926 \u0915\u0940\u091c\u093f\u090f \u0906\u092f\u0936\u0930 \u092e\u094b\u091f\u0930\u094d\u0938 \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u091c\u094b \u0939\u092e\u0928\u0947 \u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u092f\u093e \u0925\u093e) \u0932\u0947\u0915\u093f\u0928 \u092b\u093f\u0930 \u092d\u0940 \u092f\u0947 \u092c\u0922\u093c\u0947\u0917\u093e \u091c\u0930\u0942\u0930\u0964 \u092d\u093e\u0930\u0924 \u0939\u0940 \u0928\u0939\u0940\u0902 \u0926\u0941\u0928\u093f\u092f\u093e \u092d\u0930 \u0915\u0947 \u092c\u093e\u091c\u093e\u0930\u094b\u0902 \u092e\u0947\u0902 \u092f\u0939 \u091a\u0940\u091c \u092c\u093e\u0930-\u092c\u093e\u0930 \u0939\u0941\u0908 \u0939\u0948\u0964", "\u0915\u093f\u0938\u0940 \u090f\u0915 \u0905\u091a\u094d\u091b\u0940 \u0915\u0902\u092a\u0928\u0940 \u092e\u0947\u0902, \u091c\u093f\u0938\u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0947 \u0917\u0941\u0923 \u0939\u0948\u0902, \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u093e \u0939\u092e\u0947\u0936\u093e \u092b\u093e\u092f\u0926\u0947 \u0915\u093e \u0938\u094c\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092c\u0938 \u092f\u0939 \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u093f\u090f \u0915\u093f \u0906\u092a\u0915\u094b \u091b\u094b\u091f\u0940-\u092e\u094b\u091f\u0940 \u0909\u0925\u0932-\u092a\u0941\u0925\u0932 \u0938\u0947 \u092f\u0939 \u0915\u0941\u091b \u0938\u092e\u092f \u0915\u0940 \u0909\u0925\u0932-\u092a\u0941\u0925\u0932 \u0938\u0947 \u0918\u092c\u0930\u093e\u0928\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e\u0928\u0947 \u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u092d\u0940 \u0915\u0939\u093e \u0925\u093e \u0915\u093f \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u0932\u093e\u092f\u0915 \u0939\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0915\u0941\u091b \u0917\u0941\u0923 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u091c\u094b \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0928 \u0917\u0941\u0923\u094b\u0902 \u0915\u094b \u0926\u094b \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0917\u0941\u0923\u0935\u0924\u094d\u0924\u093e \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0914\u0930 \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947\u0964 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u0915\u093e \u0905\u0927\u094d\u092f\u092f\u0928 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0935\u0948\u0938\u0947 \u092e\u0948\u0902 \u0905\u092a\u0928\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0932\u093f\u090f \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0915\u094d\u0935\u093e\u0932\u093f\u091f\u0940 \u092a\u0930 \u092d\u0930\u094b\u0938\u093e \u0915\u0930\u0924\u093e \u0939\u0942\u0902\u0964", "\u0915\u094d\u0935\u093e\u0932\u093f\u091f\u0940 \u092f\u093e \u0917\u0941\u0923\u0935\u0924\u094d\u0924\u093e \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0917\u0941\u0923 \u092c\u093f\u091c\u0928\u0947\u0938 \u0915\u093e \u0935\u0939 \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u091c\u0939\u093e\u0902 \u0906\u0902\u0915\u0921\u093c\u0947 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0947 \u091c\u0948\u0938\u0947:", "\u090a\u092a\u0930 \u0926\u0940 \u0917\u0908 \u091a\u0940\u091c\u094b\u0902 \u092e\u0947\u0902 \u0938\u0947 \u0915\u094b\u0908 \u092d\u0940 \u091a\u0940\u091c \u0905\u0917\u0930 \u0938\u0939\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0924\u094b \u092f\u0939 \u090f\u0915 \u0916\u0924\u0930\u0947 \u0915\u0940 \u0928\u093f\u0936\u093e\u0928\u0940 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u0905\u0917\u0930 \u090f\u0915 \u0915\u0902\u092a\u0928\u0940 \u092c\u093e\u0930-\u092c\u093e\u0930 \u0930\u093f\u0932\u0947\u091f\u0947\u0921 \u092a\u093e\u0930\u094d\u091f\u0940 \u091f\u094d\u0930\u093e\u0902\u091c\u0948\u0915\u094d\u0936\u0928 \u0915\u0930 \u0930\u0939\u0940 \u0939\u0948 \u0924\u094b \u092f\u0939 \u0938\u093e\u092b \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u092a\u0915\u094d\u0937\u092a\u093e\u0924 \u0915\u0930 \u0930\u0939\u0940 \u0939\u0948 \u0914\u0930 \u092c\u0941\u0930\u0940 \u0928\u0940\u0924\u093f\u092f\u093e\u0902 \u0905\u092a\u0928\u093e \u0930\u0939\u0940 \u0939\u0948\u0964 \u092f\u0939 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u092d\u0932\u0947 \u0939\u0940 \u0915\u0902\u092a\u0928\u0940 \u0905\u091a\u094d\u091b\u093e \u0914\u0930 \u092e\u094b\u091f\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e\u093e \u0930\u0939\u0940 \u0939\u094b, \u0932\u0947\u0915\u093f\u0928 \u091c\u093f\u0938 \u0926\u093f\u0928 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0907\u0928 \u0939\u0930\u0915\u0924\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0924\u093e \u091a\u0932\u0947\u0917\u093e, \u0909\u0938 \u0926\u093f\u0928 \u0932\u094b\u0917 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0947\u0902\u0917\u0947 \u0914\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0947 \u092d\u093e\u0935 \u0915\u093e\u092b\u0940 \u0928\u0940\u091a\u0947 \u0906 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0932\u093f\u090f \u092f\u0939 \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947\u0935\u0932 \u092e\u0941\u0928\u093e\u092b\u0947 \u0915\u0940 \u0913\u0930 \u0927\u094d\u092f\u093e\u0928 \u0928\u093e \u0926\u0947\u0902 \u092c\u0932\u094d\u0915\u093f \u092f\u0939 \u092d\u0940 \u0926\u0947\u0916\u0947\u0902 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0915\u0949\u0930\u092a\u094b\u0930\u0947\u091f \u0917\u0935\u0930\u094d\u0928\u0947\u0902\u0938 \u092f\u093e \u092c\u093e\u0915\u0940 \u091a\u0940\u091c\u0947\u0902 \u0915\u0948\u0938\u0940 \u0939\u0948\u0902\u0964", "\u0935\u0948\u0938\u0947 \u0917\u0941\u0923\u0935\u0924\u094d\u0924\u093e \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u091a\u0940\u091c\u0947\u0902 \u0915\u094b \u091c\u093e\u0928\u0928\u093e \u0906\u0938\u093e\u0928 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e, \u0932\u0947\u0915\u093f\u0928 \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0935\u093e\u0930\u094d\u0937\u093f\u0915 \u0930\u093f\u092a\u094b\u0930\u094d\u091f \u0915\u094b \u092a\u0922\u093c\u0915\u0930, \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0915\u0947 \u0907\u0902\u091f\u0930\u0935\u094d\u092f\u0942 \u0915\u094b \u0926\u0947\u0916\u0915\u0930, \u0916\u092c\u0930\u094b\u0902 \u0915\u094b \u091c\u093e\u0928\u0915\u0930 \u0907\u0928 \u091a\u0940\u091c\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0924\u093e \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0939\u092e \u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0906\u0917\u0947 \u0907\u0928 \u091a\u0940\u091c\u094b\u0902 \u092a\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u092e\u0941\u0926\u094d\u0926\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0928\u0924\u0940\u091c\u094b\u0902 \u092e\u0947\u0902 \u0926\u093f\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u0941\u091b \u0906\u0902\u0915\u0921\u093c\u0947 \u0906\u092a\u0915\u0947 \u0938\u093e\u092e\u0928\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0915\u0941\u091b \u0906\u092a\u0915\u094b \u0922\u0942\u0902\u0922\u0928\u0947 \u092a\u0921\u093c\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u092e\u0947\u0902 \u0915\u0948\u0936/\u0928\u0915\u0926 \u0915\u093f\u0924\u0928\u093e \u0939\u0948 \u092f\u0939 \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u091a\u0932 \u091c\u093e\u090f\u0917\u093e \u0932\u0947\u0915\u093f\u0928 \u201c\u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u0928\u0902\u092c\u0930 \u0911\u092b \u0921\u0947\u091c\u201d \u0906\u092a\u0915\u094b \u0928\u0939\u0940\u0902 \u0926\u093f\u0916\u0947\u0917\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0915\u094b \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935 \u0926\u0947\u0924\u093e \u0939\u0948 \u0907\u0928 \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u092e\u0947\u0902 \u091c\u094b \u091c\u0930\u0942\u0930\u0940 \u091a\u0940\u091c\u0947\u0902 \u0939\u0948\u0902, \u0935\u0939 \u0939\u0948\u0902:", "\u092f\u0939 \u0932\u093f\u0938\u094d\u091f \u0914\u0930 \u092d\u0940 \u0932\u0902\u092c\u0940 \u0939\u0948\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0939\u0930 \u0938\u0947\u0915\u094d\u091f\u0930 \u0915\u0940 \u0905\u092a\u0928\u0940 \u0905\u0932\u0917 \u0932\u093f\u0938\u094d\u091f \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f", "\u0930\u0940\u091f\u0947\u0932 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f:", "\u0911\u092f\u0932 \u0914\u0930 \u0917\u0948\u0938 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f:", "", "\u0905\u0917\u0932\u0947 \u0915\u0941\u091b \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u0935\u093e\u0930\u094d\u0937\u093f\u0915 \u0930\u093f\u092a\u094b\u0930\u094d\u091f \u092e\u0947\u0902 \u0926\u093f\u090f \u0917\u090f \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0915\u094b, \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u092f\u093e\u0928\u0940 \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0938\u0947 \u092a\u0922\u093c\u0928\u0947 \u0914\u0930 \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u0939\u0940 \u0939\u094b\u0917\u093e \u0915\u093f \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0939\u0940 \u0938\u093e\u0930\u0947 \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0915\u093e \u092e\u0941\u0916\u094d\u092f \u0938\u094d\u0924\u094d\u0930\u094b\u0924 \u0939\u0948 \u0914\u0930 \u092f\u0939\u0940\u0902 \u0938\u0947 \u0928\u093f\u0915\u0932\u0947 \u0906\u0902\u0915\u0921\u093c\u094b\u0902 \u0915\u0940 \u090f\u0928\u093e\u0932\u0938\u093f\u0938 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "Amazing Article!", "great things for investor thanks a lot zerodha team", "it is very useful for new investors", "Tqsm zerodha varsity team", "Simply Great", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch2-title1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/speculator.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/trader.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/investor.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch2-Chart1.jpg", "https://secure.gravatar.com/avatar/b5f4f3190cd8c53c779420febc6d7c39?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/05b7d83ba283bbceb2f4f4ccde2e299a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/bc8bdcf1ecef3c55e7a802c610a5f8a3?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/db1b428575621caa01cbaa4af95ef35a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/35f5a7a41f6eaa1a1e9faa16f0e4c0c0?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: center;\"><strong>\u0930\u0940\u091f\u0947\u0932 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f:</strong></p>\n</td>\n<td>\n<p style=\"text-align: center;\"><strong>\u0911\u092f\u0932 \u0914\u0930 \u0917\u0948\u0938 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f:</strong></p>\n</td>\n</tr>\n<tr>\n<td>\n<ol>\n<li><span style=\"font-weight: 400;\">\u0938\u094d\u091f\u094b\u0930 \u0915\u0940 \u0915\u0941\u0932 \u0938\u0902\u0916\u094d\u092f\u093e</span></li>\n<li><span style=\"font-weight: 400;\">\u0939\u0930 \u0938\u094d\u091f\u094b\u0930 \u0915\u0940 \u0914\u0938\u0924 \u092c\u093f\u0915\u094d\u0930\u0940</span></li>\n<li><span style=\"font-weight: 400;\">\u092a\u094d\u0930\u0924\u093f \u0938\u094d\u0915\u094d\u0935\u0948\u092f\u0930 \u092b\u0941\u091f \u092c\u093f\u0915\u094d\u0930\u0940</span></li>\n<li><span style=\"font-weight: 400;\">\u092e\u0930\u094d\u091a\u0947\u0902\u0921\u093e\u0907\u091c\u093c \u092e\u093e\u0930\u094d\u091c\u093f\u0928</span></li>\n<li><span style=\"font-weight: 400;\">\u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0938\u094d\u091f\u094b\u0930 \u0914\u0930 \u092b\u094d\u0930\u0948\u0902\u091a\u093e\u0907\u091c\u0940 \u0915\u093e \u0930\u0947\u0936\u094d\u092f\u094b</span></li>\n</ol>\n</td>\n<td>\n<ol>\n<li><span style=\"font-weight: 400;\">\u0911\u092f\u0932 \u0914\u0930 \u0928\u0948\u091a\u0941\u0930\u0932 \u0917\u0948\u0938 \u0938\u0947 \u0906\u092e\u0926\u0928\u0940 \u0915\u093e \u0905\u0928\u0941\u092a\u093e\u0924</span></li>\n<li><span style=\"font-weight: 400;\">\u090f\u0915\u094d\u0938\u092a\u094d\u0932\u094b\u0930\u0947\u0936\u0928 \u0915\u093e \u0916\u0930\u094d\u091a</span></li>\n<li><span style=\"font-weight: 400;\">\u0911\u092f\u0932 \u0915\u0940 \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940</span></li>\n<li><span style=\"font-weight: 400;\">\u0921\u0947\u0935\u0947\u0932\u094d\u092a\u094d\u0921 \u0930\u093f\u091c\u0930\u094d\u0935</span></li>\n<li><span style=\"font-weight: 400;\">\u0915\u0941\u0932 \u0909\u0924\u094d\u092a\u093e\u0926 \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u0930\u0940\u00a0</span></li>\n</ol>\n</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "18. \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u2013 \u092d\u093e\u0917 2", "text": ["\u0921\u092c\u0932 \u0914\u0930 \u091f\u094d\u0930\u093f\u092a\u0932 \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0915\u0947 \u092c\u093e\u0926 \u0905\u0917\u0932\u093e \u092e\u0941\u0926\u094d\u0926\u093e \u0930\u0947\u0902\u091c \u0935\u093e\u0932\u093e \u092c\u093e\u091c\u093e\u0930 \u0939\u0948\u0964 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0930\u0947\u0902\u091c \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u090f\u0915 \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u0948\u0964 \u091c\u092c \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u092c\u0939\u0941\u0924 \u0938\u092e\u092f \u0924\u0915 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u0915\u0947 \u090f\u0915 \u0926\u093e\u092f\u0930\u0947 \u092e\u0947\u0902 \u0918\u0942\u092e\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948 \u0924\u094b \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u090f\u0915 \u0930\u0947\u0902\u091c \u092e\u0947\u0902 \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u092c\u093e\u0930-\u092c\u093e\u0930 \u090a\u092a\u0930 \u0914\u0930 \u0928\u0940\u091a\u0947 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0940\u092e\u0924 \u0924\u0915 \u0939\u0940 \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u0947 \u0906\u0917\u0947 \u0928\u0939\u0940\u0902 \u092c\u0922\u093c\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u094b\u0908 \u0928\u092f\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0928\u0939\u0940\u0902 \u092c\u0928 \u0930\u0939\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0907\u0938\u0947 \u0938\u093e\u0907\u0921\u0935\u0947\u091c \u092c\u093e\u091c\u093e\u0930 (Sideways market or Sideways drift) \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0910\u0938\u093e \u0907\u0938\u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0914\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u093e \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0905\u0917\u0932\u0940 \u0926\u093f\u0936\u093e \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0915\u093e \u092c\u093e\u091c\u093e\u0930 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0915\u0947 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u094b \u0925\u094b\u0921\u093c\u093e \u0938\u093e \u0928\u093f\u0930\u093e\u0936 \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u0932\u0947\u0915\u093f\u0928 \u0910\u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u092e\u094c\u0915\u0947 \u092e\u093f\u0932\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092f\u0939 \u092e\u094c\u0915\u0947 \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u0924\u0930\u092b \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u2013 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u0915\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u092d\u0940 \u0914\u0930 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u0915\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u092d\u0940\u0964 \u0910\u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0905\u092a\u0938\u093e\u0907\u0921 \u092f\u093e\u0928\u0940 \u092c\u0922\u094b\u0924\u094d\u0924\u0930\u0940 \u0915\u093e \u092e\u094c\u0915\u093e \u090a\u092a\u0930 \u0930\u0947\u091c\u093f\u0938\u094d\u091f\u0947\u0902\u0938 (Resistance) \u0924\u0915 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0921\u093e\u0909\u0928\u0938\u093e\u0907\u0921 \u092f\u093e \u0917\u093f\u0930\u093e\u0935\u091f \u0915\u093e \u092e\u094c\u0915\u093e \u0928\u0940\u091a\u0947 \u0938\u092a\u094b\u0930\u094d\u091f \u0924\u0915, \u0907\u0938\u0940\u0932\u093f\u090f \u0907\u0938\u0947 \u0930\u0947\u0902\u091c \u092c\u093e\u0909\u0902\u0921 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0947 \u091f\u094d\u0930\u0947\u0921\u0930\u094d\u0938 \u0915\u093e \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u091c\u0939\u093e\u0902 \u092a\u0930 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0914\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0947 \u0926\u094b\u0928\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u092e\u094c\u0915\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0906\u092a \u090f\u0915 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u091a\u093e\u0932 \u0915\u094b \u0930\u0947\u0902\u091c \u092e\u0947\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902:", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0928\u0947 165 \u0915\u0947 \u090a\u092a\u0930\u0940 \u0938\u094d\u0924\u0930 \u0915\u094b \u0914\u0930 128 \u0915\u0947 \u0928\u093f\u091a\u0932\u0947 \u0938\u094d\u0924\u0930 \u0915\u094b \u0915\u0908 \u092c\u093e\u0930 \u091b\u0941\u0906 \u0914\u0930 \u0907\u0938\u0940 \u0926\u093e\u092f\u0930\u0947 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0924\u093e \u0930\u0939\u093e\u0964 \u090a\u092a\u0930 \u0914\u0930 \u0928\u0940\u091a\u0947 \u0915\u0947 \u0938\u094d\u0924\u0930 \u0915\u0947 \u092c\u0940\u091a \u0915\u0947 \u0915\u094d\u0937\u0947\u0924\u094d\u0930 \u0915\u094b \u0935\u093f\u0921\u094d\u0925 \u0911\u0931 \u0930\u0947\u0902\u091c (Width of range) \u092f\u093e\u0928\u0940 \u0930\u0947\u0902\u091c \u0915\u0940 \u091a\u094c\u0921\u093c\u093e\u0908 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0910\u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u0906\u0938\u093e\u0928 \u091f\u094d\u0930\u0947\u0921 \u092f\u0939 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a \u0928\u0940\u091a\u0947 \u0938\u092a\u094b\u0930\u094d\u091f \u0915\u0947 \u092a\u093e\u0938 \u092f\u093e\u0928\u0940 \u0928\u093f\u091a\u0932\u0947 \u0938\u094d\u0924\u0930 \u0915\u0947 \u092a\u093e\u0938 \u0916\u0930\u0940\u0926\u0947\u0902 \u0914\u0930 \u090a\u092a\u0930 \u0930\u0947\u091c\u093f\u0938\u094d\u091f\u0947\u0902\u0938 \u0938\u094d\u0924\u0930 \u0915\u0947 \u092a\u093e\u0938 \u092c\u0947\u091a \u0926\u0947\u0902\u0964 \u0906\u092a \u091a\u093e\u0939\u0947 \u0924\u094b \u090a\u092a\u0930 \u0915\u0947 \u0938\u094d\u0924\u0930 \u092a\u0930 \u0936\u0949\u0930\u094d\u091f \u092d\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0935\u093e\u092a\u0938 \u0928\u0940\u091a\u0947 \u0915\u0947 \u0938\u094d\u0924\u0930 \u092a\u0930 \u0906\u0915\u0930 \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0906\u092a \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f \u090a\u092a\u0930 \u0915\u093e \u091a\u093e\u0930\u094d\u091f \u090f\u0915 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0914\u0930 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0947 \u092e\u093f\u0932\u0928\u0947 \u0915\u093e \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948\u0964 \u092c\u093e\u092f\u0940\u0902 \u0924\u0930\u092b \u0938\u0947 \u0918\u0947\u0930\u0947 \u0917\u090f \u0915\u0948\u0902\u0921\u0932 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0940\u091c\u093f\u090f\u0964", "\u090f\u0915 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092f\u0939 \u092e\u094c\u0915\u093e \u091a\u0942\u0915\u0928\u093e \u0928\u0939\u0940\u0902 \u091a\u093e\u0939\u093f\u090f \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u0915\u094b \u092a\u0939\u091a\u093e\u0928\u0928\u093e \u092c\u0939\u0941\u0924 \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0906\u0938\u093e\u0928 \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u090f\u0915 \u0930\u0947\u0902\u091c \u0915\u0941\u091b \u0939\u092b\u094d\u0924\u094b\u0902 \u0938\u0947 \u0932\u0947\u0915\u0930 \u0915\u0941\u091b \u0938\u093e\u0932\u094b\u0902 \u0924\u0915 \u092d\u0940 \u0930\u0939 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u091c\u093f\u0924\u0928\u093e \u0939\u0940 \u0932\u0902\u092c\u093e \u0930\u0947\u0902\u091c \u0915\u093e \u0938\u092e\u092f \u0939\u094b\u0917\u093e \u0909\u0938 \u0930\u0947\u0902\u091c \u0915\u0940 \u091a\u094c\u0921\u093c\u093e\u0908 \u0909\u0924\u0928\u0940 \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0917\u0940\u0964", "", "\u090f\u0915 \u0930\u0947\u0902\u091c \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u092e\u092f \u0924\u0915 \u0930\u0939\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0915\u092d\u0940-\u0915\u092d\u0940 \u0938\u094d\u091f\u0949\u0915 \u0909\u0938 \u0930\u0947\u0902\u091c \u0915\u094b \u0924\u094b\u0921\u093c \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u090f\u0915 \u092c\u093e\u0930 \u092f\u0939 \u0926\u0947\u0916 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0906\u0916\u093f\u0930 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915 \u0930\u0947\u0902\u091c \u092e\u0947\u0902 \u0930\u0939\u0924\u0947 \u0915\u094d\u092f\u094b\u0902 \u0939\u0948\u0902\u0964", "\u0938\u094d\u091f\u0949\u0915 \u0915\u0947 \u090f\u0915 \u0930\u0947\u0902\u091c \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0940 \u0926\u094b \u0935\u091c\u0939 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0902:", "\u090f\u0915 \u0930\u0947\u0902\u091c \u092e\u0947\u0902 \u0930\u0939\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0938\u094d\u091f\u0949\u0915 \u0909\u0938 \u0930\u0947\u0902\u091c \u0915\u094b \u0924\u094b\u0921\u093c \u092d\u0940 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0930\u0947\u0902\u091c \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u090f\u0915 \u0928\u0908 \u0926\u093f\u0936\u093e \u092f\u093e \u0928\u090f \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0940 \u0913\u0930 \u0907\u0936\u093e\u0930\u093e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0930\u0947\u0902\u091c \u092c\u094d\u0930\u0947\u0915 \u0906\u0909\u091f \u0915\u0940 \u0926\u093f\u0936\u093e \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u0940 \u092f\u0939 \u0909\u0938 \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u093e \u0905\u0917\u0932\u093e \u0907\u0935\u0947\u0902\u091f \u0915\u0948\u0938\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u093e \u0928\u0924\u0940\u091c\u093e \u0915\u094d\u092f\u093e \u0928\u093f\u0915\u0932\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0939\u092e\u0947\u0936\u093e \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0905\u092a\u0928\u0940 \u0926\u093f\u0936\u093e \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u091f\u094d\u0930\u0947\u0921\u00a0 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092e\u094c\u0915\u0947 \u0926\u0947\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0939\u092e\u0947\u0936\u093e \u0932\u093e\u0902\u0917 \u092a\u094b\u091c\u0940\u0936\u0928 \u0932\u0947\u0917\u093e \u091c\u092c \u0938\u094d\u091f\u0949\u0915 \u0905\u092a\u0928\u0947 \u0930\u0947\u091c\u093f\u0938\u094d\u091f\u0947\u0902\u0938 \u0932\u0947\u0935\u0932 \u0915\u094b \u092c\u094d\u0930\u0947\u0915 \u0915\u0930\u0924\u093e \u0939\u0948 \u092f\u093e \u0924\u094b\u0921\u093c\u0924\u093e \u0939\u0948 \u0914\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0936\u093e\u0930\u094d\u091f \u091c\u093e\u090f\u0917\u093e \u091c\u092c \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u092a\u0928\u0947 \u0938\u092a\u094b\u0930\u094d\u091f \u0932\u0947\u0935\u0932 \u0915\u0947 \u0928\u0940\u091a\u0947 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0930\u0947\u0902\u091c \u0915\u094b \u0906\u092a \u090f\u0915 \u0910\u0938\u0947 \u092a\u094d\u0930\u0947\u0936\u0930 \u0935\u093e\u0932\u0947 \u091a\u0947\u0902\u092c\u0930 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092d\u0940 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u0939\u093e\u0902 \u0939\u0930 \u090f\u0915 \u0926\u093f\u0928 \u092a\u094d\u0930\u0947\u0936\u0930 \u092c\u0922\u093c\u0924\u093e \u091c\u093e \u0930\u0939\u093e \u0939\u0948 \u0914\u0930 \u092a\u0939\u0932\u093e \u092e\u094c\u0915\u093e \u092e\u093f\u0932\u0924\u0947 \u0939\u0940 \u0935\u0939 \u092a\u094d\u0930\u0947\u0936\u0930 \u092c\u0939\u0941\u0924 \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0924\u0947\u091c\u0940 \u0915\u0947 \u0938\u093e\u0925 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932\u0924\u093e \u0939\u0948\u0964 \u091c\u093f\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0939\u094b\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0915\u0908 \u092c\u093e\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092b\u0949\u0932\u094d\u0938 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f (False Breakout) \u092f\u093e\u0928\u0940 \u0928\u0915\u0932\u0940 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0938\u0947 \u092c\u091a\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u090f\u0915 \u092b\u0949\u0932\u094d\u0938 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0924\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u091f\u094d\u0930\u093f\u0917\u0930 \u0907\u0924\u0928\u093e \u092e\u091c\u092c\u0942\u0924 \u0928\u093e \u0939\u094b \u0915\u093f \u0935\u0939 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u090f\u0915 \u0915\u093f\u0938\u0940 \u090f\u0915 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u0932\u0947 \u091c\u093e \u0938\u0915\u0947\u0964 \u0906\u0938\u093e\u0928 \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0915\u0939\u0947\u0902 \u0924\u094b \u092f\u0939 \u092b\u0949\u0932\u094d\u0938 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0924\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0915\u093f\u0938\u0940 \u091b\u094b\u091f\u0940 \u0918\u091f\u0928\u093e \u0915\u094b \u091f\u094d\u0930\u093f\u0917\u0930 \u092e\u093e\u0928 \u0915\u0930 \u0930\u093f\u091f\u0947\u0932 \u092f\u093e\u0928\u0940 \u091b\u094b\u091f\u0947 \u0928\u093f\u0935\u0947\u0936\u0915 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0932\u0917\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092b\u0949\u0932\u094d\u0938 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u092e\u0947\u0902 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u093e\u092b\u0940 \u0915\u092e \u0939\u094b\u0924\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0907\u0938\u092e\u0947\u0902 \u0939\u093f\u0938\u094d\u0938\u0947\u0926\u093e\u0930 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940\u0964 \u092b\u0949\u0932\u094d\u0938 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0915\u0947 \u092c\u093e\u0926 \u0938\u094d\u091f\u0949\u0915 \u0935\u093e\u092a\u0938 \u0905\u092a\u0928\u0947 \u0930\u0947\u0902\u091c \u092e\u0947\u0902 \u091a\u0932\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u092e\u0947\u0902 \u0926\u094b \u0936\u0930\u094d\u0924\u094b\u0902 \u0915\u093e \u092a\u0942\u0930\u093e \u0939\u094b\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u094b\u0924\u093e \u0939\u0948:", "\u0928\u0940\u091a\u0947 \u091a\u093e\u0930\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u0947\u0902", "", "\u092f\u0939\u093e\u0902 \u0907\u0938 \u0938\u094d\u091f\u0949\u0915 \u0928\u0947 \u0924\u0940\u0928 \u092c\u093e\u0930 \u0930\u0947\u0902\u091c \u0938\u0947 \u092c\u094d\u0930\u0947\u0915 \u0906\u0909\u091f \u0915\u0930\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u0932\u0947\u0915\u093f\u0928 \u092a\u0939\u0932\u0940 \u0926\u094b \u092c\u093e\u0930 \u092b\u0949\u0932\u094d\u0938 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0925\u0947 \u092f\u093e\u0928\u0940 \u0928\u0915\u0932\u0940 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0925\u0947\u0964 \u092a\u0939\u0932\u093e \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u091c\u094b \u092c\u093e\u092f\u0940\u0902 \u0924\u0930\u092b \u0915\u0947 \u092a\u0939\u0932\u0947 \u0918\u0947\u0930\u0947 \u092e\u0947\u0902 \u0939\u0948 \u0909\u0938\u092e\u0947\u0902 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u093e\u092b\u0940 \u0915\u092e \u0925\u0947 \u0914\u0930 \u0909\u0938\u0915\u093e \u092e\u094b\u092e\u0947\u0902\u091f\u092e (Momentum) \u092f\u093e\u0928\u0940 \u0924\u0947\u091c\u0940 \u092d\u0940 \u0915\u092e \u0925\u0940\u0964 \u0926\u0942\u0938\u0930\u0947 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u092e\u0947\u0902 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0924\u094b \u0925\u093e \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u092e\u0947\u0902 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u092f\u093e\u0928\u0940 \u0917\u0924\u093f \u0928\u0939\u0940\u0902 \u0925\u0940\u0964 \u0932\u0947\u0915\u093f\u0928 \u0924\u0940\u0938\u0930\u093e \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u090f\u0915 \u0938\u0939\u0940 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0925\u093e \u091c\u093f\u0938\u092e\u0947\u0902 \u0939\u093e\u0908 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0914\u0930 \u0939\u093e\u0908 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0925\u093e\u0964", "\u091c\u0948\u0938\u0947 \u0939\u0940 \u0915\u094b\u0908 \u0938\u094d\u091f\u0949\u0915 \u0905\u092a\u0928\u0947 \u0930\u0947\u0902\u091c \u0938\u0947 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0915\u0930\u0924\u093e \u0939\u0948 \u0914\u0930 \u0938\u093e\u0925 \u092e\u0947\u0902 \u0909\u0938\u092e\u0947\u0902 \u0905\u091a\u094d\u091b\u0947 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092d\u0940 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0909\u0938 \u0936\u0947\u092f\u0930 \u0915\u094b \u0924\u0941\u0930\u0928\u094d\u0924 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u091a\u094d\u091b\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0930\u0947\u0902\u091c \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0915\u0940 \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u0936\u0930\u094d\u0924 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u092a\u093e\u0938 \u0907\u0938\u0915\u094b \u091c\u093e\u0928\u0928\u0947 \u0915\u093e \u0915\u094b\u0908 \u0924\u0930\u0940\u0915\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u092c\u0928\u0924\u093e \u0930\u0939\u0947\u0917\u093e \u092f\u093e \u0928\u0939\u0940\u0902 \u092c\u0928\u0947\u0917\u093e, \u0907\u0938\u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0930\u0947\u0902\u091c \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0915\u0947 \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u0939\u092e\u0947\u0936\u093e \u090f\u0915 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u090f\u0915 \u0938\u094d\u091f\u0949\u0915 128 \u0914\u0930 165 \u0915\u0940 \u0930\u0947\u0902\u091c \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0930\u0939\u093e \u0939\u0948\u0964 \u0938\u094d\u091f\u0949\u0915 \u0905\u092a\u0928\u0947 \u0930\u0947\u0902\u091c \u0915\u094b \u0924\u094b\u0921\u093c\u0924\u093e \u0939\u0948 \u0914\u0930 165 \u0938\u0947 \u090a\u092a\u0930 \u091c\u093e\u0915\u0930 170 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0910\u0938\u0947 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0938\u0932\u093e\u0939 \u092f\u0939 \u0939\u094b\u0917\u0940 \u0915\u093f \u0935\u0939 170 \u092a\u0930 \u0932\u093e\u0902\u0917 \u0924\u094b \u091c\u093e\u090f \u0932\u0947\u0915\u093f\u0928 165 \u0915\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u091c\u0930\u0942\u0930 \u0930\u0916\u0947\u0964\u00a0 \u092f\u093e \u092b\u093f\u0930 \u092f\u0939 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0938\u094d\u091f\u0949\u0915 128 \u0915\u0947 \u0930\u0947\u0902\u091c \u0915\u094b \u0928\u0940\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u0924\u094b\u0921\u093c\u0924\u093e \u0939\u0948 \u0914\u0930 123 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0910\u0938\u0947 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 123 \u092a\u0930 \u0936\u0949\u0930\u094d\u091f \u0924\u094b \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0947 128 \u0915\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u091c\u0930\u0942\u0930 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u091f\u094d\u0930\u0947\u0921 \u0936\u0941\u0930\u0942 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0905\u0917\u0930 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u0938\u0939\u0940 \u0928\u093f\u0915\u0932\u0924\u093e \u0939\u0948 \u0924\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u092e \u0938\u0947 \u0915\u092e \u0930\u0947\u0902\u091c \u0915\u0940 \u091a\u094c\u0921\u093c\u093e\u0908 \u0915\u0947 \u092c\u0930\u093e\u092c\u0930 \u0915\u093e \u092e\u0942\u0935 \u0924\u094b \u092e\u093f\u0932\u0947\u0917\u093e\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 168 \u0915\u0947 \u092c\u094d\u0930\u0947\u0915\u0906\u0909\u091f \u092e\u0947\u0902 \u0915\u092e \u0938\u0947 \u0915\u092e \u091f\u093e\u0930\u0917\u0947\u091f 43 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0915\u093e \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0930\u0947\u0902\u091c \u0915\u0940 \u091a\u094c\u0921\u093c\u093e\u0908 168\u2013125 = 43 \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0941\u0906 \u0915\u093f \u091f\u093e\u0930\u0917\u0947\u091f \u0939\u0941\u0906 168+43=211", "\u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092b\u094d\u0932\u0948\u0917 \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0924\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u090f\u0915 \u0938\u094d\u091f\u0949\u0915 \u0932\u0917\u093e\u0924\u093e\u0930 \u0924\u0947\u091c \u0930\u0948\u0932\u0940 \u092e\u0947\u0902 \u090f\u0915 \u0935\u0930\u094d\u091f\u093f\u0915\u0932 \u092f\u093e\u0928\u0940 \u0938\u0940\u0927\u0940 \u0930\u0947\u0916\u093e \u092e\u0947\u0902 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964 \u092b\u094d\u0932\u0948\u0917 \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u090f\u0915 \u092c\u0939\u0941\u0924 \u092c\u0921\u093c\u093e \u092e\u0942\u0935 \u0939\u094b\u0924\u093e \u0939\u0948 \u0907\u0938\u092e\u0947\u0902 \u092c\u093e\u0926 \u092e\u0947\u0902 1 \u090f\u0915 \u091b\u094b\u091f\u093e \u0938\u093e \u0915\u0930\u0947\u0915\u094d\u0936\u0928 \u092d\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0915\u0930\u0947\u0915\u094d\u0936\u0928 \u0915\u0947 \u0907\u0938 \u092b\u0947\u091c \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0926\u094b \u0938\u092e\u093e\u0902\u0924\u0930 \u0930\u0947\u0916\u093e\u090f\u0902 \u092c\u0928\u093e\u0924\u0940 \u0939\u0948\u0964 \u092b\u094d\u0932\u0948\u0917 \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0906\u092f\u0924\u093e\u0915\u093e\u0930 \u0906\u0915\u093e\u0930 \u092c\u0928\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0935\u0939 \u090f\u0915 \u0921\u0902\u0921\u0947 \u092a\u0930 \u0932\u0917\u0947 \u0939\u0941\u090f \u091d\u0902\u0921\u0947 \u0915\u0940 \u0924\u0930\u0939 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0915\u0940 \u0917\u093f\u0930\u093e\u0935\u091f 5 \u0926\u093f\u0928 \u0938\u0947 15 \u0926\u093f\u0928 \u0924\u0915 \u091a\u0932 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "", "\u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0930\u0948\u0932\u0940 \u0914\u0930 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0917\u093f\u0930\u093e\u0935\u091f \u090f\u0915 \u0915\u0947 \u092c\u093e\u0926 \u090f\u0915 \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u091c\u093f\u0938\u0938\u0947 \u092b\u094d\u0932\u0948\u0917 \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u092c\u0928\u0924\u093e \u0939\u0948\u0964 \u091c\u092c \u090f\u0915 \u092b\u094d\u0932\u0948\u0917 \u092c\u0928\u0924\u093e \u0939\u0948 \u0924\u094b \u0938\u094d\u091f\u0949\u0915 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0905\u091a\u093e\u0928\u0915 \u0924\u0947\u091c\u0940 \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u092d\u093e\u0917\u0924\u093e \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0915\u094b\u0908 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u093f\u0938\u0940 \u090f\u0915 \u0936\u0947\u092f\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092e\u094c\u0915\u093e \u091a\u0942\u0915 \u091c\u093e\u0924\u093e \u0939\u0948 \u0924\u094b \u092b\u094d\u0932\u0948\u0917 \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0909\u0938 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0935\u0939 \u092e\u094c\u0915\u093e \u0926\u094b\u092c\u093e\u0930\u093e \u0926\u0947\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0932\u0947\u0928\u0947 \u092e\u0947\u0902 \u0924\u0947\u091c\u0940 \u0926\u093f\u0916\u093e\u0928\u0940 \u0939\u094b\u0917\u0940 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u093e\u092b\u0940 \u0924\u0947\u091c\u0940 \u0938\u0947 \u092b\u093f\u0930 \u0938\u0947 \u090a\u092a\u0930 \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0906\u092a \u090a\u092a\u0930 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u0907\u0938\u0947 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092b\u094d\u0932\u0948\u0917 \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0915\u093e \u0924\u0930\u094d\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0938\u0940\u0927\u093e \u0939\u0948\u0964 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0905\u091a\u093e\u0928\u0915 \u0924\u0947\u091c \u0930\u0948\u0932\u0940 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0916\u093f\u0932\u093e\u0921\u093c\u093f\u092f\u094b\u0902 \u0915\u094b \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u092c\u0941\u0915 \u0915\u0930\u0928\u0947 \u092f\u093e\u0928\u0940 \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e\u093e\u0928\u0947 \u0915\u093e \u092e\u094c\u0915\u093e \u0926\u0947\u0924\u0940 \u0939\u0948\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0930\u093f\u091f\u0947\u0932 \u0928\u093f\u0935\u0947\u0936\u0915, \u091c\u094b \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0906\u0908 \u0924\u0947\u091c\u0940 \u0938\u0947 \u0916\u0941\u0936 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u0905\u092a\u0928\u093e \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u092c\u0941\u0915 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0924\u0947 \u0939\u0948\u0902 \u0907\u0938\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u0915\u0941\u091b \u0928\u0940\u091a\u0947 \u091c\u093e\u0924\u0940 \u0939\u0948\u0902 \u0932\u0947\u0915\u093f\u0928 \u091a\u0942\u0902\u0915\u093f \u0915\u0947\u0935\u0932 \u0930\u093f\u091f\u0947\u0932 \u0928\u093f\u0935\u0947\u0936\u0915 \u0939\u0940 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a \u0930\u0939\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0907\u0938\u0932\u093f\u090f \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0915\u093e\u092b\u0940 \u0915\u092e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0938\u094d\u092e\u093e\u0930\u094d\u091f \u092e\u0928\u0940 \u0905\u092d\u0940 \u092d\u0940 \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936\u093f\u0924 \u0930\u0939\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092e\u093e\u0939\u094c\u0932 \u092a\u0949\u091c\u093f\u091f\u093f\u0935 \u0939\u0940 \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0915\u0908\u00a0 \u091f\u094d\u0930\u0947\u0921\u0930 \u0907\u0938\u0947 \u090f\u0915 \u092e\u094c\u0915\u0947 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0936\u0947\u092f\u0930 \u092e\u0947\u0902 \u092b\u093f\u0930 \u0938\u0947 \u090f\u0915 \u0924\u0947\u091c \u0930\u0948\u0932\u0940 \u0906\u0924\u0940 \u0939\u0948\u0964", "\u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u091f\u0942 \u0930\u093f\u0938\u094d\u0915 \u0930\u0947\u0936\u094d\u092f\u094b (RRR) \u0915\u093e \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0915\u0947\u0935\u0932 \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f \u0928\u0939\u0940\u0902 \u0939\u0948 \u092c\u0932\u094d\u0915\u093f \u092f\u0939 \u092a\u0942\u0930\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0935\u0948\u0938\u0947 \u0924\u094b \u0907\u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093f\u0938\u094d\u091f\u092e \u0914\u0930 \u0930\u093f\u0938\u094d\u0915 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0915\u0947 \u0924\u0939\u0924 \u0938\u092e\u091d\u093e\u092f\u093e \u091c\u093e\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0925\u093e \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0939\u0930 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948, \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0939\u094b \u092f\u093e \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u093e \u0928\u093f\u0935\u0947\u0936 \u0939\u094b\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0939\u092e RRR \u0915\u094b \u092f\u0939\u093e\u0902 \u092a\u0930 \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "\u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u091f\u0942 \u0930\u093f\u0938\u094d\u0915 \u0930\u0947\u0936\u094d\u092f\u094b (RRR) \u0915\u0940 \u0917\u0923\u0928\u093e \u0915\u0930\u0928\u093e \u0906\u0938\u093e\u0928 \u0939\u0948\u0964 \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u090f\u0915 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u0932\u093e\u0902\u0917 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0906\u0902\u0915\u0921\u093c\u0947 \u0926\u0947\u0916\u093f\u090f:", "\u090f\u0928\u094d\u091f\u094d\u0930\u0940 (Entry) : 55.75", "\u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 : 53.55", "\u091f\u093e\u0930\u0917\u0947\u091f : 57.20", "\u091a\u0942\u0902\u0915\u093f \u092f\u0947 \u090f\u0915 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u091f\u094d\u0930\u0947\u0921 \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u092f\u0947 \u0920\u0940\u0915 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0947 \u0915\u0941\u091b \u0917\u0939\u0930\u093e\u0908 \u0938\u0947 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902:", "\u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u093f\u0924\u0928\u093e \u0930\u093f\u0938\u094d\u0915 \u0932\u0947 \u0930\u0939\u093e \u0939\u0948? : (\u090f\u0928\u094d\u091f\u094d\u0930\u0940 \u2013 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938) \u092f\u093e\u0928\u0940 55.75-53.25=2.2", "\u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u0915\u093f\u0924\u0928\u093e \u092e\u093f\u0932 \u0938\u0915\u0924\u093e \u0939\u0948: (\u090f\u0915\u094d\u091c\u093f\u091f\u2013\u090f\u0928\u094d\u091f\u094d\u0930\u0940) 57.2-55.75=1.45", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f 1.45 \u0915\u0947 \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u0915\u0947 \u0932\u093f\u090f \u091f\u094d\u0930\u0947\u0921\u0930 2.2 \u0915\u093e \u0930\u093f\u0938\u094d\u0915 \u0932\u0947 \u0930\u0939\u093e \u0939\u0948 \u092f\u093e\u0928\u0940 \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u091f\u0942 \u0930\u093f\u0938\u094d\u0915 \u0930\u0947\u0936\u094d\u092f\u094b (RRR) 1.45/2.2= 0.65 \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0947 \u0905\u091a\u094d\u091b\u093e \u091f\u094d\u0930\u0947\u0921 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u090f\u0915 \u0905\u091a\u094d\u091b\u0947 \u0938\u094c\u0926\u0947 \u0915\u094b \u090f\u0915 \u0905\u091a\u094d\u091b\u0947 \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u091f\u0942 \u0930\u093f\u0938\u094d\u0915 \u0930\u0947\u0936\u094d\u092f\u094b (RRR) \u0938\u0947 \u092a\u0939\u091a\u093e\u0928\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0905\u0917\u0930 \u0906\u092a 1 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0930\u093f\u0938\u094d\u0915 \u0932\u0947 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u093e \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u0915\u092e \u0938\u0947 \u0915\u092e 1.3 \u0930\u0941\u092a\u092f\u0947 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f, \u0928\u0939\u0940\u0902 \u0924\u094b \u092f\u0947 \u0930\u093f\u0938\u094d\u0915 \u0928\u0939\u0940\u0902 \u0932\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u0907\u0938 \u0938\u094c\u0926\u0947 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f:", "\u090f\u0928\u094d\u091f\u094d\u0930\u0940 : 107", "\u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 : 102", "\u091f\u093e\u0930\u0917\u0947\u091f : 114", "\u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u093e \u0930\u093f\u0938\u094d\u0915 \u20b95 (107-102) \u0915\u093e \u0939\u0948 \u091c\u092c\u0915\u093f \u0909\u0938\u0915\u094b \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u20b97 (114-107) \u092f\u0939\u093e\u0902 RRR 7/5= 1.4 \u0939\u0941\u0906 \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0941\u0906 \u0915\u093f \u0939\u0930 \u090f\u0915 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u0930\u093f\u0938\u094d\u0915 \u092a\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b 1.4 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948\u0964 \u092e\u0924\u0932\u092c \u0938\u094c\u0926\u093e \u092c\u0941\u0930\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u0939\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0905\u092a\u0928\u0947 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0915\u0940 \u0915\u094d\u0937\u092e\u0924\u093e \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0905\u092a\u0928\u093e \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u091f\u0942 \u0930\u093f\u0938\u094d\u0915 \u0930\u0947\u0936\u094d\u092f\u094b (RRR) \u0924\u092f \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0924\u094c\u0930 \u092a\u0930 \u092e\u0948\u0902 \u0915\u092d\u0940 \u092d\u0940 1.5 \u0938\u0947 \u0915\u092e \u0915\u0947 RRR \u0935\u093e\u0932\u0947 \u0938\u094c\u0926\u0947 \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u093e \u0939\u0942\u0902\u0964 \u0915\u0941\u091b \u090f\u0917\u094d\u0930\u0947\u0938\u093f\u0935 \u091f\u094d\u0930\u0947\u0921\u0930 \u0924\u094b \u090f\u0915 \u0930\u0941\u092a\u092f\u0947 \u0915\u0947 \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u091f\u0942 \u0930\u093f\u0938\u094d\u0915 \u0930\u0947\u0936\u094d\u092f\u094b (RRR) \u092a\u0930 \u092d\u0940 \u0938\u094c\u0926\u0947 \u0915\u0930 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u0964 \u092f\u093e\u0928\u0940 \u090f\u0915 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u090f\u0915 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u092a\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f\u0964 \u0915\u0941\u091b \u0915\u093e \u092e\u093e\u0928\u0928\u093e \u0939\u0948 \u0915\u093f RRR \u0915\u092e \u0938\u0947 \u0915\u092e 1.25 \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u091c\u094b \u091f\u094d\u0930\u0947\u0921\u0930\u094d\u0938 \u0938\u0947\u092b \u0916\u0947\u0932\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0935\u0939 2 \u0938\u0947 \u090a\u092a\u0930 \u0915\u093e RRR \u0916\u094b\u091c\u0924\u0947 \u0939\u0948\u0902 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0935\u0939 \u20b91 \u0915\u093e \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u20b92 \u0915\u0947 \u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u0915\u0940 \u0924\u0932\u093e\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0939\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u094b RRR \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092d\u0940 \u0926\u0947\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0915\u092e RRR \u0935\u093e\u0932\u0947 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0932\u093f\u090f \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u093e \u092c\u0941\u0926\u094d\u0927\u093f\u092e\u093e\u0928\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u092e\u094c\u0915\u093e \u092d\u0940 \u091b\u094b\u0921\u093c \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0905\u0917\u0930 RRR \u0905\u091a\u094d\u091b\u093e \u0928\u0939\u0940\u0902 \u0939\u0948 \u0924\u094b\u0964", "\u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0907\u0938 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u0940 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0930\u0947\u0902:", "\u090f\u0915 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u090a\u092a\u0930\u0940 \u0938\u093f\u0930\u0947 \u092a\u0930 \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928\u0924\u093e \u0939\u0948, \u091c\u0939\u093e\u0902 \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u092c\u0928 \u0930\u0939\u093e \u0939\u0948 \u0935\u0939\u0940\u0902 \u092a\u0930 \u0921\u092c\u0932 \u091f\u0949\u092a \u092b\u0949\u0930\u094d\u092e\u0947\u0936\u0928 \u092d\u0940 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u092d\u0940 \u0905\u091a\u094d\u091b\u093e \u0939\u0948, \u092a\u093f\u091b\u0932\u0947 10 \u0926\u093f\u0928 \u0915\u0947 \u090f\u0935\u0930\u0947\u091c \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0938\u0947 30 \u092a\u0930\u0938\u0947\u0902\u091f \u091c\u094d\u092f\u093e\u0926\u093e \u0935\u0949\u0932\u094d\u092f\u0942\u092e \u0939\u0948\u0964 \u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 \u0915\u0947 \u0939\u093e\u0908 \u0915\u0947 \u092a\u093e\u0938 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u092e\u0940\u0921\u093f\u092f\u092e \u091f\u0930\u094d\u092e \u0938\u092a\u094b\u0930\u094d\u091f \u092d\u0940 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948\u0964", "\u092f\u0939\u093e\u0902 \u090f\u0915 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0938\u093e\u0930\u0947 \u0905\u091a\u094d\u091b\u0947 \u0938\u0902\u0915\u0947\u0924 \u0939\u0948\u0902, \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u091f\u094d\u0930\u0947\u0921 \u0910\u0938\u093e \u092c\u0928\u0924\u093e \u0939\u0948 :", "\u090f\u0928\u094d\u091f\u094d\u0930\u0940 : 765.67", "\u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 : 772.85", "\u091f\u093e\u0930\u0917\u0947\u091f : 758.5", "\u0930\u093f\u0938\u094d\u0915 : 7.18 (772.85-765.67) \u092f\u093e (\u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u2013\u090f\u0928\u094d\u091f\u094d\u0930\u0940)", "\u0930\u093f\u0935\u093e\u0930\u094d\u0921 : 7.17 (765.67-758.5) \u092f\u093e (\u090f\u0928\u094d\u091f\u094d\u0930\u0940\u2013\u090f\u0915\u094d\u091c\u093f\u091f)", "RRR : 7.17/7.18= 1 (\u0932\u0917\u092d\u0917)", "\u091c\u0948\u0938\u093e \u0915\u093f \u092e\u0948\u0902 \u092a\u0939\u0932\u0947 \u0939\u0940 \u0915\u0939 \u091a\u0941\u0915\u093e \u0939\u0942\u0902 \u0915\u093f \u092e\u0948\u0902 RRR \u0915\u093e \u092c\u0939\u0941\u0924 \u0915\u0921\u093c\u093e\u0908 \u0938\u0947 \u092a\u093e\u0932\u0928 \u0915\u0930\u0924\u093e \u0939\u0942\u0902 \u0914\u0930 \u092e\u0947\u0930\u0947 \u0932\u093f\u090f \u092f\u0947 \u0915\u092e \u0938\u0947 \u0915\u092e 1.5 \u0939\u094b\u0928\u093e \u0939\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u0907\u0938\u0932\u093f\u090f \u092e\u0947\u0930\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947, \u0938\u094c\u0926\u093e \u092c\u0939\u0941\u0924 \u0905\u091a\u094d\u091b\u093e \u0926\u093f\u0916\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092d\u0940 \u0907\u0938\u0947 \u091b\u094b\u0921\u093c \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0905\u092c \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u0906 \u0917\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u092e\u0947\u0902 RRR \u0915\u093e \u0939\u094b\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964", "\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092e\u0941\u0926\u094d\u0926\u094b\u0902 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0905\u092c \u0939\u092e\u093e\u0930\u0947 \u0932\u093f\u090f \u0938\u092e\u092f \u0939\u0948 \u0915\u093f \u0939\u092e \u0905\u092a\u0928\u0947 \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u094b \u092b\u093f\u0930 \u0938\u0947 \u0926\u0947\u0916\u0947\u0902 \u0914\u0930 \u0909\u0938 \u0915\u094b \u0905\u0902\u0924\u093f\u092e \u0930\u0942\u092a \u0926\u0947\u0902\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a\u0928\u0947 \u0905\u092c \u0924\u0915 \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e \u0932\u093f\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u092d\u0940 \u091a\u0947\u0915 \u0932\u093f\u0938\u094d\u091f \u0915\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939 \u091f\u094d\u0930\u0947\u0921 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0914\u0930 \u0938\u0902\u0915\u0947\u0924 \u0926\u0947\u0924\u093e \u0939\u0948\u0964", "\u091c\u092c \u092d\u0940 \u0906\u092a \u090f\u0915 \u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u092e\u094c\u0915\u093e \u092a\u0939\u091a\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0939\u092e\u0947\u0936\u093e \u0915\u094b\u0936\u093f\u0936 \u0915\u0940\u091c\u093f\u090f \u0915\u093f \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u0921\u0949\u0909 \u0925\u094d\u092f\u094b\u0930\u0940 \u0915\u0947 \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923 \u0938\u0947 \u092d\u0940 \u0926\u0947\u0916\u0947\u0902\u0964 \u0905\u092d\u0940 \u0906\u092a \u0905\u0917\u0930 \u090f\u0915 \u0932\u093e\u0902\u0917 \u091f\u094d\u0930\u0947\u0921 \u0932\u0947\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0938\u0915\u094b \u0906\u092a\u0928\u0947 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092c\u0928\u093e\u092f\u093e \u0939\u0948 \u0924\u094b \u0927\u094d\u092f\u093e\u0928 \u0938\u0947 \u0926\u0947\u0916\u0947\u0902 \u0915\u093f \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u0914\u0930 \u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u094d\u092f\u093e \u092c\u0924\u093e \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u092c\u0941\u0932\u093f\u0936 \u0939\u0948 \u0924\u094b \u090f\u0915 \u0905\u091a\u094d\u091b\u093e \u0938\u0902\u0915\u0947\u0924 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0938\u0947\u0915\u0947\u0902\u0921\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u091a\u0932 \u0930\u0939\u093e \u0939\u0948, \u091c\u094b \u0915\u093f \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092a\u094d\u0930\u093e\u0907\u092e\u0930\u0940 \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0940 \u0935\u093f\u0930\u094b\u0927 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948, \u0924\u094b \u0906\u092a\u0915\u094b \u0926\u094b\u092c\u093e\u0930\u093e \u0938\u094b\u091a\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0905\u092a\u0928\u093e \u0932\u093e\u0902\u0917 \u091f\u094d\u0930\u0947\u0921 \u0932\u0947\u0928\u093e \u0939\u0948 \u092f\u093e \u0928\u0939\u0940\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939 \u091f\u094d\u0930\u0947\u0921 \u092e\u094c\u091c\u0942\u0926\u093e \u091f\u094d\u0930\u0947\u0902\u0921 \u0915\u0947 \u0935\u093f\u092a\u0930\u0940\u0924 \u0939\u094b\u0917\u093e\u0964", "\u0905\u0917\u0930 \u0906\u092a \u090a\u092a\u0930 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u091a\u0947\u0915 \u0932\u093f\u0938\u094d\u091f \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947\u00a0 \u091a\u0932\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092e\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092f\u0939 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u0948 \u0924\u094b \u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u0915\u0939 \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0906\u092a\u0915\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0940 \u0915\u0941\u0936\u0932\u0924\u093e \u0914\u0930 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0922\u093c \u091c\u093e\u090f\u0917\u0940\u0964 \u0907\u0938\u0932\u093f\u090f \u0905\u0917\u0932\u0940 \u092c\u093e\u0930 \u091c\u092c \u092d\u0940 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0947\u0902 \u0924\u094b \u0906\u092a \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902 \u0915\u093f \u090a\u092a\u0930 \u0926\u093f\u090f \u0917\u090f \u091a\u0947\u0915\u0932\u093f\u0938\u094d\u091f \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0939\u0940 \u0939\u094b\u0964 \u0914\u0930 \u0915\u0941\u091b \u0939\u094b \u092f\u093e \u0928\u093e \u0939\u094b \u0915\u092e \u0938\u0947 \u0915\u092e \u0907\u0924\u0928\u093e \u0924\u094b \u091c\u0930\u0942\u0930 \u0939\u094b\u0917\u093e \u0915\u093f \u0906\u092a\u0915\u093e \u091f\u094d\u0930\u0947\u0921 \u090f\u0915 \u0905\u091a\u094d\u091b\u0947 \u0924\u0930\u094d\u0915 \u092a\u0930 \u0906\u0927\u093e\u0930\u093f\u0924 \u0939\u094b\u0917\u093e\u0964", "\u0939\u092e\u0928\u0947 \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u092e\u0941\u0926\u094d\u0926\u094b\u0902 \u092a\u0930 \u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u091a\u0930\u094d\u091a\u093e \u0915\u0930 \u0932\u0940 \u0939\u0948\u0964 \u092e\u0948\u0902 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0917\u0924 \u0924\u094c\u0930 \u092a\u0930 \u0906\u092a\u0915\u094b \u092d\u0930\u094b\u0938\u093e \u0926\u093f\u0932\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u091c\u093f\u0928 \u092e\u0941\u0926\u094d\u0926\u094b\u0902 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0939\u0948 \u0909\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0906\u092a \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u092e\u0947\u0902 \u0915\u093e\u092b\u0940 \u092e\u091c\u092c\u0942\u0924 \u0939\u094b \u091c\u093e\u090f\u0902\u0917\u0947\u0964 \u0910\u0938\u093e \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u094b \u0932\u0917\u0947 \u0915\u093f \u0914\u0930 \u092d\u0940 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u092a\u0948\u091f\u0930\u094d\u0928 \u0914\u0930 \u0907\u0902\u0921\u093f\u0915\u0947\u091f\u0930 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092f\u093e \u091a\u0930\u094d\u091a\u093e \u0928\u0939\u0940\u0902 \u0915\u0940 \u0917\u0908 \u0939\u0948 \u0914\u0930 \u0909\u0928 \u092a\u0930 \u0906\u092a\u0915\u094b \u091c\u094d\u092f\u093e\u0926\u093e \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u093f\u090f, \u0932\u0947\u0915\u093f\u0928 \u092e\u0948\u0902 \u0915\u0939\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0905\u0917\u0930 \u0939\u092e\u0928\u0947 \u0915\u093f\u0938\u0940 \u092e\u0941\u0926\u094d\u0926\u0947 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0928\u0939\u0940\u0902 \u0915\u0940 \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u093e \u0915\u094b\u0908 \u0916\u093e\u0938 \u0935\u091c\u0939 \u0939\u094b\u0917\u0940 \u0907\u0938\u0932\u093f\u090f \u0906\u092a \u092d\u0930\u094b\u0938\u093e \u0930\u0916\u0947\u0902 \u0915\u093f \u0906\u092a\u0915\u0947 \u0915\u093e\u092e \u0915\u0940 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092f\u093e \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0915\u093e\u092e \u0915\u0940 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092f\u0939\u093e\u0902 \u0926\u0940 \u0917\u0908 \u0939\u0948\u0964 \u0905\u0917\u0930 \u0906\u092a \u0907\u0928 \u0938\u093e\u0930\u0947 \u092e\u0941\u0926\u094d\u0926\u094b\u0902 \u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0938\u092e\u092f \u0928\u093f\u0915\u093e\u0932\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a \u0905\u092a\u0928\u0947 \u0932\u093f\u090f \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u090f\u0915 \u092c\u0947\u0939\u0924\u0930 \u092b\u094d\u0930\u0947\u092e\u0935\u0930\u094d\u0915 \u0924\u0948\u092f\u093e\u0930 \u0915\u0930 \u092a\u093e\u090f\u0902\u0917\u0947\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0905\u092c \u0906\u092a\u0915\u094b \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0905\u092a\u0928\u0947 \u0915\u094b \u091f\u0947\u0938\u094d\u091f \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u094d\u091f\u094d\u0930\u0948\u091f\u0947\u091c\u0940 \u092c\u0928\u093e\u0928\u0940 \u091a\u093e\u0939\u093f\u090f, \u0930\u093f\u0938\u094d\u0915 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0914\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u093e\u0907\u0915\u0949\u0932\u091c\u0940 (Psychology) \u092f\u093e\u0928\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092e\u0928\u094b\u0935\u093f\u091c\u094d\u091e\u093e\u0928 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0939\u092e \u0906\u0917\u0947 \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0907\u0928 \u091a\u0940\u091c\u094b\u0902 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0907\u0938 \u092e\u093e\u0921\u094d\u092f\u0942\u0932 \u0915\u0947 \u0905\u0902\u0924\u093f\u092e \u0915\u0941\u091b \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u092e\u0947\u0902 \u0939\u092e \u0915\u0941\u091b \u091c\u0930\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u092c\u0924\u093e\u090f\u0902\u0917\u0947 \u091c\u093f\u0938\u0938\u0947 \u0906\u092a \u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0936\u0941\u0930\u0942 \u0915\u0930 \u0938\u0915\u0947\u0902\u0964", "\u0930\u093f\u0935\u093e\u0930\u094d\u0921 \u091f\u0942 \u0930\u093f\u0938\u094d\u0915 \u0930\u0947\u0936\u094d\u092f\u094b:-\n\u092f\u0939\u093e\u0902 \u090f\u0915 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0938\u093e\u0930\u0947 \u0905\u091a\u094d\u091b\u0947 \u0938\u0902\u0915\u0947\u0924 \u0939\u0948\u0902, \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u091f\u094d\u0930\u0947\u0921 \u0910\u0938\u093e \u092c\u0928\u0924\u093e \u0939\u0948 :", "Correction :\u2014\u2014\u2013 \u090f\u0928\u094d\u091f\u094d\u0930\u0940 : 756.67 (765.67 ke badle ulta likha hai,)", "\u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 : 772.85", "\u091f\u093e\u0930\u0917\u0947\u091f : 758.5", "\u0930\u093f\u0938\u094d\u0915 : 7.18 (772.85-765.67) \u092f\u093e (\u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u2013\u090f\u0928\u094d\u091f\u094d\u0930\u0940)", "\u0930\u093f\u0935\u093e\u0930\u094d\u0921 : 7.17 (765.67-758.5) \u092f\u093e (\u090f\u0928\u094d\u091f\u094d\u0930\u0940\u2013\u090f\u0915\u094d\u091c\u093f\u091f)", "RRR : 7.17/7.18= 1 (\u0932\u0917\u092d\u0917)", "\u092a\u094d\u0930\u0915\u093e\u0936 \u091c\u0940, \u0939\u092e\u0928\u0947 \u092f\u0939 \u0917\u0932\u0924\u0940 \u0905\u092c \u0938\u0941\u0927\u093e\u0930 \u0926\u0940 \u0939\u0948\u0964 \u092c\u0939\u0941\u0924 \u0927\u0928\u094d\u092f\u0935\u093e\u0926 \ud83d\ude42", "what is \u092c\u0941\u0932\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917 \u092a\u0948\u091f\u0930\u094d\u0928 ,\u092e\u093e\u0930\u094d\u0928\u093f\u0902\u0917 \u0926\u094b\u091c\u0940,\u092c\u0947\u092f\u0930\u093f\u0936 \u090f\u0928\u0917\u0932\u094d\u092b\u093f\u0902\u0917\n\u092c\u0947\u092f\u0930\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u092a\u0948\u091f\u0930\u094d\u0928?", "\u0906\u092a \u0907\u0938 \u091a\u0948\u092a\u094d\u091f\u0930 \u092e\u0947\u0902 \u092c\u0941\u0932\u093f\u0936 \u0939\u0930\u093e\u092e\u0940 \u091c\u0948\u0938\u0947 \u092e\u0932\u094d\u091f\u0940\u092a\u094d\u0932 \u0915\u0948\u0902\u0921\u0932\u0938\u094d\u091f\u093f\u0915 \u092a\u0948\u091f\u0930\u094d\u0928\u094d\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u095d \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0964", "https://zerodha.com/varsity/chapter/%e0%a4%ae%e0%a4%b2%e0%a5%8d%e0%a4%9f%e0%a5%80%e0%a4%aa%e0%a4%b2-%e0%a4%95%e0%a5%88%e0%a4%82%e0%a4%a1%e0%a4%b2%e0%a4%b8%e0%a5%8d%e0%a4%9f%e0%a4%bf%e0%a4%95-%e0%a4%aa%e0%a5%88%e0%a4%9f%e0%a4%b0-3/", "Sir jo candle stick pattern apne btaye he ye enough he ya hme or bhi pattern yad rkhne chahoye", "SIRJI\nDOW THEORY kae bare mai jo samjhya . bahat saaral hai . samajh mai bhi aagya . magar volume kae barae mai kuch jan kari dae date tou . aach hota .\ndow theroy kae upper trade kaisae kare uska ek example chahiye .", "Dear sir, neo wave, iliout waves ka ak lesson banayen", "\u0939\u092e \u0906\u092a\u0915\u0947 \u092b\u0940\u0921\u092c\u0948\u0915 \u092a\u0930 \u095b\u0930\u0942\u0930 \u0928\u095b\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947 \u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch18-Chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch18-title1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch18-Chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M2-Ch18-Chart3.jpg", "https://secure.gravatar.com/avatar/3f4e4c4f19d6f94c239426e95f9e67e4?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/ebf72042850164e35e4f1342b2ba8fb1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/89a85d9e1c55f2846021498c84a40f64?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/b88bd6ba3330438a27a426c7c9ae2d7d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/3629c28e330278377f66381e2ef91d0d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9f5e5a01fbb32761b4494d7dddd809d6?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "3. Accepting Criticism", "text": ["Novice traders are infamous for needing to be right. This natural, human tendency is so powerful that novice traders engage in unproductive trading behaviors to avoid admitting that they are wrong. They might hold on to a losing trade, for example, to keep losses on paper. They may procrastinate or put off making a trade in an effort to avoid facing the consequences of a bad trading idea. In many ways, a need to be right can be stifling. Rather than feel free and creative, a trader who consciously or unconsciously needs to be right may hold back at critical moments in the midst of a trade. When you are inhibited and afraid, you avoid making trades. And unless you make trade after trade, you\u2019ll never hone your trading skills and master the markets. Accepting feedback and criticism is vital for trading success.", "", "Why is it so hard to accept criticism, whether it is from another person or the markets? One of the main reasons is that we associate criticism with feelings of inadequacy. We tend to place great psychological significance on a critical comment or negative feedback of any kind. It is as if parents or teachers are criticizing us for doing something morally wrong. But this is a false assumption. Criticism doesn\u2019t need to have any emotional meaning. It\u2019s vital to take criticism and feedback in stride. It isn\u2019t personal; it\u2019s just feedback. If you can learn to downplay its emotional significance and view it as cold, hard data, you\u2019ll be able to use this information to hone your trading skills.", "Another reason it\u2019s hard to accept criticism is that we have an irrational need to be perfect. We often assume that unless we are always right, we will not be successful. We learn this assumption from school. In school, we were usually allowed only one chance to turn in a term paper or take a test. In most school settings, you can\u2019t retake a test or rewrite a term paper, and thus, you can\u2019t learn to hone your skills. Many people carry over this mindset into trading. But it doesn\u2019t need to apply. If you make small practice trades, for example, you can make a trade, learn from your mistakes, and make a new trade. Over time, you\u2019ll hone your trading skills. Since risk is managed, you can make mistakes and learn from them. There\u2019s nothing to fear.", "There\u2019s no reason to avoid accepting criticism. Indeed, if you want to be successful at trading, you should seek it out, either by making trades and seeing what happens or consulting a trading coach. The more information you get about yourself, the more likely you\u2019ll be able to hone your skills. So seek out criticism. Don\u2019t be afraid to accept your limitations. If you can stand there and take all the criticism you can find, you\u2019ll hone your skills to the point that you will trade the markets skillfully and profitably.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041005.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "37. Market Frustration: Stay Calm; It\u2019s not Personal", "text": ["Tom had been going long on a stock trade for two months. He expected a product announcement to boost the price a few points, but nothing happened. Despite rave reviews of the product and high demand, the masses didn\u2019t buy the stock. There was strong support, but the price had changed little. Rather than wait another day, Tom decided to just give up, sell, and move on. The day after he sold, though, the price jumped four points. Tom is now frustrated. He\u2019s angry with himself for becoming impatient and selling too soon, and he is angry at the markets for going against his trading plan. Ever feel like Tom? You traded a sound trading plan, but the markets just didn\u2019t cooperate. How you handle frustration may have a lot to do with your perspective. It\u2019s vital to make sure that you have thinking strategies that will allow you to take setbacks in stride.Some traders personalize the markets. Rather than see the markets abstractly, they unconsciously view the markets as a person. They start to think they have a personal relationship with the markets. And since the markets are usually uncooperative with their trading plans, they frequently believe that they have a hostile relationship with the markets. Some people are particularly prone to frustration in that they have a frustration bias. In actual personal relationships, people with a frustration bias tend to view people as out to get them. As if they are in a fit of paranoia, they jump to the conclusion that people are out to wrong them. They extend this bias toward the markets. When anything goes wrong, they jump to the conclusion that people are out to get them. They imbue significance onto the markets that just isn\u2019t really there.", "If you have frustration bias, it\u2019s important to neutralize it. The first step is to acknowledge the fact that you tend to see personal slights where they just don\u2019t exist. The markets may be comprised of groups of people, but the people don\u2019t know you. When they fail to buy when you want them to, for example, they aren\u2019t engaging in behavior to purposely harm you. It\u2019s important to remember that it isn\u2019t personal. The second important step to take is to anticipate adverse events and setbacks. People become especially upset when they are caught off guard. Tom, for example, was particularly upset because he didn\u2019t expect the stock price to increase the day after he sold his position. Had he fully considered all possibilities and expected that the unthinkable may actually happen, he would have been less bothered. Another strategy is to allow yourself to make mistakes. Tom was upset because he put pressure on himself to trade with perfection. But had he accepted the fact that he, and everyone else makes mistakes, he would have felt much better. It\u2019s the difference between thinking, \u201cI was stupid to sell too early\u201d and thinking, \u201cI sold too early but I reasonably decided that I had waited long enough. Sometimes you\u2019re right. Sometimes you\u2019re wrong. I was wrong. It wasn\u2019t the first time and it won\u2019t be the last. I\u2019m just going to forget it and move on.\u201d", "You are human. The markets aren\u2019t. Don\u2019t personalize the markets. Look at them objectively. The market action won\u2019t always match your expectations. That\u2019s all right. Take setbacks in stride. If you dwell on them, view them as mistakes, and mull them over, you\u2019ll feel frustrated. But if you expect them, and accept that no one is perfect, you\u2019ll feel relaxed, free and creative. And trading in a cool and logical state of mind will help you trade profitably.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/12/20040712.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "1. \u092a\u0943\u0937\u094d\u0920\u092d\u0942\u092e\u093f \u2013 \u0935\u093e\u092f\u0926\u093e \u092c\u093e\u091c\u093c\u093e\u0930 \u2013 \u092b\u0949\u0930\u0935\u0930\u094d\u0921\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f (Forwards Market)", "text": ["\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f, \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935\u094d\u0938 (Financial Derivatives) \u0915\u093e \u090f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935 \u090f\u0915 \u0924\u0930\u0939 \u0915\u0940 \u092a\u094d\u0930\u0924\u093f\u092d\u0942\u0924\u093f \u092f\u093e\u0928\u0940 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u093f\u0938\u0940 \u0926\u0942\u0938\u0930\u0947 \u0909\u0924\u094d\u092a\u093e\u0926 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0939\u0941\u0908 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u0926\u0942\u0938\u0930\u0947 \u0909\u0924\u094d\u092a\u093e\u0926 \u0915\u094b \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0905\u0902\u0921\u0930\u0932\u093e\u0907\u0902\u0917 \u090f\u0938\u0947\u091f (Underlying Asset) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0905\u0902\u0921\u0930\u0932\u093e\u0907\u0902\u0917 \u090f\u0938\u0947\u091f \u0915\u0941\u091b \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u091c\u0948\u0938\u0947 \u0936\u0947\u092f\u0930, \u092c\u0949\u0928\u094d\u0921, \u0915\u092e\u094b\u0921\u093f\u091f\u0940 \u092f\u093e \u0915\u0930\u0947\u0902\u0938\u0940\u0964 \u0907\u0938\u0915\u093e \u091a\u0932\u0928 \u0938\u0926\u093f\u092f\u094b\u0902 \u0938\u0947 \u0939\u0948\u0964 \u0908\u0938\u093e \u092a\u0942\u0930\u094d\u0935 320 \u092e\u0947\u0902 \u0915\u094c\u091f\u093f\u0932\u094d\u092f/\u091a\u093e\u0923\u0915\u094d\u092f \u0915\u0947 \u091c\u092e\u093e\u0928\u0947 \u092e\u0947\u0902 \u092d\u0940 \u0907\u0938\u0915\u093e \u091c\u093f\u0915\u094d\u0930 \u092e\u093f\u0932\u0924\u093e \u0939\u0948\u0964 \u0915\u094c\u091f\u093f\u0932\u094d\u092f \u0928\u0947 \u0905\u092a\u0928\u0947 \u0905\u0930\u094d\u0925\u0936\u093e\u0938\u094d\u0924\u094d\u0930 \u092e\u0947\u0902 \u0909\u0938 \u092b\u0938\u0932 \u0915\u0947 \u0915\u0940\u092e\u0924 \u0915\u0940 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0939\u0948 \u091c\u094b \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0915\u092d\u0940 \u0915\u091f\u0928\u0947 \u0935\u093e\u0932\u0940 \u0939\u0948\u0964 \u092f\u0939 \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u094c\u091f\u093f\u0932\u094d\u092f \u0915\u093f\u0938\u093e\u0928\u094b\u0902 \u0915\u094b \u092f\u0939 \u0915\u0940\u092e\u0924 \u092b\u0938\u0932 \u0915\u091f\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0939\u0940 \u0926\u0947 \u0926\u0947\u0924\u0947 \u0925\u0947\u0964 \u092f\u0947 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0947 \u0922\u093e\u0902\u091a\u0947 \u0915\u0940 \u0924\u0930\u092b \u0907\u0936\u093e\u0930\u093e \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "\u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0914\u0930 \u092b\u094d\u092f\u0942\u091a\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u091c\u093f\u0938 \u0924\u0930\u0939 \u0915\u0940 \u0938\u092e\u093e\u0928\u0924\u093e\u090f\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902, \u0909\u0938\u0947 \u0926\u0947\u0916\u0924\u0947 \u0939\u0941\u090f \u092e\u0941\u091d\u0947 \u0932\u0917\u093e \u0915\u093f \u092b\u094d\u092f\u0941\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0939\u092e \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u094b \u0938\u092e\u091d\u0947\u0902\u0964 \u0907\u0938\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u092e\u091c\u093c\u092c\u0942\u0924 \u0928\u0940\u0902\u0935 \u0915\u0940 \u0924\u0930\u0939 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092b\u0949\u0930\u0935\u0930\u094d\u0921\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f, \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935 \u0915\u093e \u0938\u092c\u0938\u0947 \u0938\u0940\u0927\u093e \u0914\u0930 \u0938\u0930\u0932 \u0930\u0942\u092a \u0939\u0948\u0964 \u092b\u0949\u0930\u0935\u0930\u094d\u0921\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u0938 \u0915\u094b \u0906\u092a \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u0938 \u0915\u093e \u0938\u092c\u0938\u0947 \u092a\u0941\u0930\u093e\u0928\u093e \u0905\u0935\u0924\u093e\u0930 \u0938\u092e\u091d \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u0939\u0940 \u090f\u0915 \u0924\u0930\u0939 \u0915\u0940 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0935\u093e\u0932\u0940 \u0938\u0930\u0902\u091a\u0928\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u092c\u0940\u0924\u0947 \u0915\u0941\u091b \u0938\u093e\u0932\u094b\u0902 \u092e\u0947\u0902 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0935\u093f\u0915\u0932\u094d\u092a \u092c\u0928 \u0917\u092f\u093e \u0939\u0948, \u092e\u0924\u0932\u092c \u092f\u0947 \u0909\u0928\u0915\u0940 \u092a\u0939\u0932\u0940 \u092a\u0938\u0902\u0926 \u092c\u0928 \u0917\u092f\u093e \u0939\u0948\u0964 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0905\u092c \u092d\u0940 \u0939\u094b\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0905\u092c \u0915\u0947\u0935\u0932 \u0915\u0941\u091b \u0909\u0926\u094d\u092f\u094b\u0917 \u092f\u093e \u092c\u0948\u0902\u0915 \u0939\u0940 \u0907\u0938\u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c\u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u093e\u0902\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u093e\u092b\u0940 \u091c\u094b\u0930\u2013\u0936\u094b\u0930 \u0938\u0947 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u093e\u0930\u093e \u092b\u094b\u0915\u0938 \u092f\u0947 \u0930\u0939\u0947\u0917\u093e \u0915\u093f \u0906\u092a \u090f\u0915 \u092b\u0949\u0930\u0935\u0930\u094d\u0921\u094d\u0938 \u091f\u094d\u0930\u093e\u0902\u091c\u0948\u0915\u094d\u0936\u0928 \u0915\u0940 \u0938\u0930\u0902\u091a\u0928\u093e \u092f\u093e\u0928\u0940 \u0938\u094d\u091f\u094d\u0930\u0915\u094d\u091a\u0930 (Structure) \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d \u091c\u093e\u090f\u0902, \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0939\u092e \u0907\u0938\u0915\u0947 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0939\u093f\u0938\u094d\u0938\u0947 \u0915\u094b \u0909\u0938\u0915\u0940 \u0916\u0942\u092c\u093f\u092f\u094b\u0902 \u0914\u0930 \u0916\u093e\u092e\u093f\u092f\u094b\u0902 \u0915\u0947 \u0938\u093e\u0925 \u0926\u0947\u0916\u0947\u0902\u0917\u0947\u0964", "\u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u094b \u0915\u093f\u0938\u093e\u0928\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0932\u093e\u092f\u093e \u0917\u092f\u093e \u0925\u093e \u0924\u093e\u0915\u093f \u0909\u0928\u0915\u094b \u0915\u0940\u092e\u0924\u094b\u0902 \u0915\u0940 \u0909\u0920\u093e\u092a\u091f\u0915 \u0938\u0947 \u092c\u091a\u093e\u092f\u093e \u091c\u093e \u0938\u0915\u0947\u0964 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u093e\u0930 \u0914\u0930 \u0935\u093f\u0915\u094d\u0930\u0947\u0924\u093e \u092f\u093e\u0928\u0940 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0938\u093e\u092e\u093e\u0928/\u092e\u093e\u0932/\u0935\u0938\u094d\u0924\u0941 \u0915\u0947 \u092c\u0926\u0932\u0947 \u0928\u0915\u0926 \u0915\u0940 \u0905\u0926\u0932\u093e-\u092c\u0926\u0932\u0940 \u092f\u093e \u0932\u0947\u0928\u0926\u0947\u0928\u00a0 \u0915\u093e \u0915\u0930\u093e\u0930/\u0905\u0928\u0941\u092c\u0902\u0927/\u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0915\u093f\u0938 \u0924\u093e\u0930\u0940\u0916 \u0915\u094b \u092f\u093e \u0915\u093f\u0938 \u0926\u093f\u0928 \u092f\u0939 \u0938\u094c\u0926\u093e \u0939\u094b\u0917\u093e \u0914\u0930 \u0915\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0939\u094b\u0917\u093e \u0907\u0938\u0915\u093e \u090f\u0915 \u0938\u092e\u091d\u094c\u0924\u093e \u092a\u0939\u0932\u0947 \u0938\u0947 \u0939\u0940 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0935\u0938\u094d\u0924\u0941/\u0938\u093e\u092e\u093e\u0928 \u0915\u0940 \u0921\u093f\u0932\u0940\u0935\u0930\u0940 \u0915\u0940 \u0924\u093e\u0930\u0940\u0916 \u0914\u0930 \u0935\u0915\u094d\u0924 \u092d\u0940 \u0924\u092f \u0915\u0930 \u0932\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0947 \u0938\u092e\u091d\u094c\u0924\u093e \u092f\u093e \u0915\u0930\u093e\u0930 \u092f\u093e \u0938\u094c\u0926\u093e \u0926\u094b \u0932\u094b\u0917\u094b\u0902 \u0915\u0947 \u092c\u0940\u091a \u0906\u092e\u0928\u0947-\u0938\u093e\u092e\u0928\u0947 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u092e\u0947\u0902 \u0915\u093f\u0938\u0940 \u0924\u0940\u0938\u0930\u0940 \u092a\u093e\u0930\u094d\u091f\u0940 \u0915\u093e \u0926\u0916\u0932 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964 \u0907\u0938\u0947 \u201c\u0913\u0935\u0930 \u0926 \u0915\u093e\u0909\u0902\u091f\u0930 (Over the Counter or OTC )\u201d \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0939\u0924\u0947 \u0939\u0948\u0964 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f\u094d\u0938 \u0915\u0947 \u0938\u094c\u0926\u0947 \u0938\u093f\u0930\u094d\u092b OTC \u0915\u0947 \u091c\u093c\u0930\u093f\u090f \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902:", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u090f\u0915 \u0917\u0939\u0928\u093e \u092c\u0928\u093e\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948- ABC \u091c\u094d\u0935\u0947\u0932\u0930, \u091c\u093f\u0938\u0915\u093e \u0915\u093e\u092e \u0917\u0939\u0928\u0947 \u0921\u093f\u091c\u093e\u0907\u0928 \u0915\u0930\u0928\u093e \u0914\u0930 \u0917\u0939\u0928\u0947 \u092c\u0928\u093e\u0928\u093e \u0939\u0948\u0964 \u0926\u0942\u0938\u0930\u093e \u090f\u0915 \u0914\u0930 \u0907\u0902\u0938\u093e\u0928 \u0939\u0948 \u091c\u093f\u0938\u0915\u093e \u0915\u093e\u092e \u0939\u0948 \u0938\u094b\u0928\u0947 \u0915\u094b \u0906\u092f\u093e\u0924 \u0915\u0930\u0928\u093e \u092f\u093e\u0928\u0940 \u0935\u093f\u0926\u0947\u0936\u094b\u0902 \u0938\u0947 \u0938\u094b\u0928\u093e \u092e\u0902\u0917\u093e\u0928\u093e \u0914\u0930 \u0918\u0930\u0947\u0932\u0942 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0925\u094b\u0915 \u092d\u093e\u0935 \u092a\u0930 \u091c\u094d\u0935\u0947\u0932\u0930\u094d\u0938 \u0915\u094b \u092c\u0947\u091a\u0928\u093e\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0909\u0938\u0915\u093e \u0928\u093e\u092e \u0939\u0948 XYZ \u0917\u094b\u0932\u094d\u0921 \u0921\u0940\u0932\u0930\u0964", "\u0905\u092c 9 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b ABC \u091c\u094d\u0935\u0947\u0932\u0930 \u0914\u0930 XYZ \u0917\u094b\u0932\u094d\u0921 \u0921\u0940\u0932\u0930 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u090f\u0915 \u0938\u092e\u091d\u094c\u0924\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f ABC \u0905\u092a\u0928\u0947 \u0915\u093e\u092e \u0915\u0947 \u0932\u093f\u090f XYZ \u0938\u0947 3 \u092e\u0939\u0940\u0928\u0947 \u092c\u093e\u0926 \u092f\u093e\u0928\u0940 9 \u092e\u093e\u0930\u094d\u091a 2015 \u0915\u094b 15 \u0915\u093f\u0932\u094b \u0938\u094b\u0928\u093e \u0916\u0930\u0940\u0926\u0947\u0917\u093e\u0964 \u0907\u0938 \u0938\u092e\u091d\u094c\u0924\u0947 \u092e\u0947\u0902 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0924\u092f \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u20b92450 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092f\u093e\u0928\u0940 \u20b9 24,50,000 \u0930\u0941\u092a\u090f \u0915\u093f\u0932\u094b\u0964 \u0907\u0938 \u0938\u092e\u091d\u094c\u0924\u0947 \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 9 \u092e\u093e\u0930\u094d\u091a 2015 \u0915\u094b ABC \u0915\u094b XYZ \u0915\u094b \u20b93.675 \u0915\u0930\u094b\u0921\u093c (24,50,000 \u00d715) \u0926\u0947\u0928\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0938\u0947 15 \u0915\u093f\u0932\u094b \u0938\u094b\u0928\u093e \u092e\u093f\u0932\u0928\u093e \u0939\u0948\u0964", "\u092f\u0939 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0938\u0940\u0927\u093e-\u0938\u093e\u0927\u093e \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0938\u094c\u0926\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0938\u094c\u0926\u094b\u0902 \u0915\u094b \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092f\u093e \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u092f\u093e \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092f\u0939\u093e\u0902 \u0927\u094d\u092f\u093e\u0928 \u0926\u0940\u091c\u093f\u090f \u0915\u093f \u092f\u0939 \u0938\u094c\u0926\u093e 9 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u0939\u0941\u0906 \u0939\u0948 \u091c\u092c\u0915\u093f \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u0928\u0939\u0940\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f 3 \u092e\u0939\u0940\u0928\u0947 \u092c\u093e\u0926 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u0940\u0964 \u0906\u0917\u0947 \u092c\u0922\u093c\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u0939\u092e \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0909\u0928 \u0926\u094b\u0928\u094b\u0902 \u0928\u0947 \u0910\u0938\u093e \u0915\u094d\u092f\u094b\u0902 \u0915\u093f\u092f\u093e?", "\u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948 ABC \u0928\u0947 \u0907\u0938 \u0938\u092e\u091d\u094c\u0924\u0947 \u0915\u094b \u0915\u094d\u092f\u094b\u0902 \u0915\u093f\u092f\u093e? \u0915\u094d\u092f\u094b\u0902\u0915\u093f ABC \u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 3 \u092e\u0939\u0940\u0928\u0947 \u092c\u093e\u0926 \u092c\u0922\u093c \u091c\u093e\u090f\u0917\u0940 \u0914\u0930 \u0907\u0938\u0932\u093f\u090f \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u093e \u0939\u094b\u0917\u093e \u0905\u0917\u0930 \u0935\u0939 \u0905\u092d\u0940 \u0915\u0940 \u0915\u092e \u0915\u0940\u092e\u0924 \u092a\u0930 \u0938\u094b\u0928\u093e \u0916\u0930\u0940\u0926 \u0932\u0947 \u092f\u093e\u0928\u0940 ABC \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0938\u0947 \u092c\u091a\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948\u0964", "\u0915\u093f\u0938\u0940 \u092b\u0949\u0930\u0935\u093e\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u094b \u201c\u092c\u093e\u092f\u0930 \u0911\u092b \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f (Buyer of the Forward Contract) \u201d \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u094b \u0915\u093f \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 ABC \u091c\u094d\u0935\u0947\u0932\u0930 \u0939\u0948\u0964", "\u0926\u0942\u0938\u0930\u0940 \u0924\u0930\u092b XYZ \u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u0905\u0917\u0932\u0947 3 \u092e\u0939\u0940\u0928\u0947 \u092e\u0947\u0902 \u0928\u0940\u091a\u0947 \u091c\u093e\u090f\u0902\u0917\u0940 \u0907\u0938\u0932\u093f\u090f \u0909\u0938\u0947 \u0905\u0917\u0930 \u0905\u092d\u0940 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0938\u094b\u0928\u093e \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u092e\u094c\u0915\u093e \u092e\u093f\u0932 \u0930\u0939\u093e \u0939\u0948 \u0924\u094b \u092f\u0939 \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u0905\u091a\u094d\u091b\u093e \u0939\u0948\u0964 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u0939 \u0907\u0938 \u0938\u092e\u091d\u094c\u0924\u0947 \u092e\u0947\u0902 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0909\u0938\u0947 \u201c\u0938\u0947\u0932\u0930 \u0911\u092b \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f (Seller of Forward Contract)\u201d \u0915\u0939\u093e \u091c\u093e\u090f\u0917\u093e\u0964", "\u0938\u093e\u092b \u0939\u0948 \u0915\u093f ABC \u0914\u0930 XYZ \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u0938\u094b\u0928\u0947 \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0930\u093e\u092f \u0939\u0948 \u0914\u0930 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0947 \u0938\u092e\u091d\u094c\u0924\u093e \u0909\u0928\u0915\u0947 \u0932\u093f\u090f \u092b\u093e\u092f\u0926\u0947\u092e\u0902\u0926 \u0939\u0948\u0964", "\u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924\u094b\u0902 \u0915\u094b \u0932\u0947\u0915\u0930 \u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u0915\u0940 \u0905\u092a\u0928\u0940 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0930\u093e\u092f \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0938\u093f\u0930\u094d\u092b \u0924\u0940\u0928 \u091a\u0940\u091c\u0947\u0902 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0902\u0964 \u0906\u0907\u090f \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u094d\u092f\u093e\u2013\u0915\u094d\u092f\u093e \u0938\u0902\u092d\u093e\u0935\u0928\u093e\u090f\u0902 \u0939\u0948\u0902 \u0914\u0930 \u0907\u0928\u0915\u093e \u0915\u094d\u092f\u093e \u0905\u0938\u0930 \u0939\u094b\u0917\u093e\u0964", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f 9 \u092e\u093e\u0930\u094d\u091a 2015 \u0915\u094b \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b92700 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f ABC \u091c\u094d\u0935\u0947\u0932\u0930 \u0915\u0940 \u0930\u093e\u092f \u0938\u0939\u0940 \u0928\u093f\u0915\u0932\u0940\u0964 \u0909\u0938\u0928\u0947 \u0938\u0939\u0940 \u0938\u092e\u092f \u092a\u0930 3.67 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u090f \u092e\u0947\u0902 \u0938\u094b\u0928\u0947 \u0915\u093e \u0938\u094c\u0926\u093e \u0915\u0930 \u0932\u093f\u092f\u093e \u091c\u092c\u0915\u093f \u0905\u0917\u0930 \u092f\u0939\u0940 \u0938\u094c\u0926\u093e \u0935\u0939 \u0905\u092d\u0940 \u0915\u0930\u0924\u093e \u0924\u094b \u0909\u0938\u0947 \u20b9 4.05 \u0915\u0930\u094b\u0921\u093c \u0926\u0947\u0928\u0947 \u092a\u0921\u093c\u0924\u0947\u0964 \u0905\u092c \u0909\u0938\u0947 \u0938\u094b\u0928\u093e \u092a\u0939\u0932\u0947 \u0938\u0947 \u0924\u092f \u0915\u0940\u092e\u0924 \u092f\u093e\u0928\u0940\u00a0 \u20b92450 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 \u0939\u0940 \u092e\u093f\u0932 \u091c\u093e\u090f\u0917\u093e\u0964", "\u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0938\u0947 \u0926\u094b\u0928\u094b\u0902 \u092a\u093e\u0930\u094d\u091f\u093f\u092f\u094b\u0902 \u092a\u0930 \u0915\u094d\u092f\u093e \u0905\u0938\u0930 \u092a\u0921\u093c\u0947\u0917\u093e \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902", "", "Party", "\u092a\u093e\u0930\u094d\u091f\u0940/\u092d\u093e\u0917\u0940\u0926\u093e\u0930", "Financial Impact", "\u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0905\u0938\u0930", "38 \u0932\u093e\u0916 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u0924\u093e \u0939\u0948", "", "\u0924\u094b XYZ \u0915\u094b \u0905\u092c \u0938\u094b\u0928\u093e \u20b92700 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e \u0914\u0930 \u0909\u0938\u0947 ABC \u091c\u094d\u0935\u0947\u0932\u0930 \u0915\u094b \u20b92450 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 \u092c\u0947\u091a\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e\u0964 \u0907\u0938\u0938\u0947 \u0909\u0938\u0915\u094b \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0917\u093e\u0964", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f 9 \u092e\u093e\u0930\u094d\u091a 2015 \u0915\u094b \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b92050 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u092f\u093e\u0928\u0940 XYZ \u0917\u094b\u0932\u094d\u0921 \u0921\u0940\u0932\u0930 \u0915\u0940 \u0930\u093e\u092f \u0938\u0939\u0940 \u0928\u093f\u0915\u0932\u0924\u0940 \u0939\u0948\u0964 \u091c\u092c \u0909\u0938\u0928\u0947 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u093f\u092f\u093e \u0925\u093e \u0924\u094b \u092c\u093e\u0924 3.67 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u092f\u0947 \u0915\u0940 \u0939\u0941\u0908 \u0925\u0940\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0935\u0939 \u092f\u0939 \u0938\u092e\u091d\u094c\u0924\u093e \u0906\u091c \u0915\u0930\u0924\u093e \u0924\u094b \u0909\u0938\u0947 3.075 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u090f \u0939\u0940 \u092e\u093f\u0932\u0924\u0947\u0964 \u0932\u0947\u0915\u093f\u0928 ABC \u091c\u094d\u0935\u0947\u0932\u0930 \u0915\u094b \u0905\u092c 2450 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 \u0939\u0940 \u0938\u094b\u0928\u093e \u0916\u0930\u0940\u0926\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e\u0964", "\u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0907\u0938\u0915\u093e \u0926\u094b\u0928\u094b\u0902 \u092a\u093e\u0930\u094d\u091f\u093f\u092f\u094b\u0902 \u092a\u0930 \u0915\u094d\u092f\u093e \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948", "Party \u092a\u093e\u0930\u094d\u091f\u0940/\u092d\u093e\u0917\u0940\u0926\u093e\u0930", "Action", "\u090f\u0915\u094d\u0936\u0928", "Financial Impact \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0905\u0938\u0930", "XYZ \u0915\u094b 59.5 \u0932\u093e\u0916 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e", "", "\u0905\u0917\u0930 9 \u092e\u093e\u0930\u094d\u091a 2015 \u0915\u094b \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0935\u0939\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948 \u091c\u094b 9 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u0925\u0940, \u0924\u092c \u0928\u093e \u0924\u094b ABC \u0915\u094b \u0915\u094b\u0908 \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0917\u093e \u0914\u0930 \u0928\u093e \u0939\u0940 XYZ \u0915\u094b \u0915\u094b\u0908 \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0917\u093e\u0964", "\u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u090f\u0915 \u0917\u094d\u0930\u093e\u092b \u092a\u0930 \u091c\u094b \u0907\u0928 \u0924\u0940\u0928\u094b\u0902 \u0938\u0902\u092d\u093e\u0935\u0928\u093e\u0913\u0902 \u0915\u094b ABC \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0926\u093f\u0916\u093e\u0924\u0947 \u0939\u0948\u2013", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u0917\u0930 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b92450 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u0930\u0939\u0924\u0940 \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u093e \u0915\u094b\u0908 \u0905\u0938\u0930 ABC \u092a\u0930\u00a0 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u091c\u0948\u0938\u0947-\u091c\u0948\u0938\u0947 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092c\u0926\u0932\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948 \u0935\u0948\u0938\u0947-\u0935\u0948\u0938\u0947 \u0907\u0938\u0915\u093e \u0905\u0938\u0930 ABC \u092a\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u091c\u093f\u0924\u0928\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0922\u093c\u0924\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0909\u0924\u0928\u093e \u0939\u0940 ABC \u0915\u0940 \u092c\u091a\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948 \u092f\u093e\u0928\u0940 \u0909\u0938\u0915\u094b \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0935\u0948\u0938\u0947 \u0939\u0940 \u20b92450 \u092a\u094d\u0930\u0924\u093f\u0917\u094d\u0930\u093e\u092e \u0938\u0947 \u091c\u093f\u0924\u0928\u093e \u0928\u0940\u091a\u0947 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0917\u093f\u0930\u0924\u0940 \u0939\u0948 ABC \u0915\u094b \u0909\u0924\u0928\u093e \u0939\u0940 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0915\u093e \u0917\u094d\u0930\u093e\u092b XYZ \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u092c\u0928\u093e\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "", "\u20b92450 \u092a\u094d\u0930\u0924\u093f\u0917\u094d\u0930\u093e\u092e \u092a\u0930 XYZ \u092a\u0930 \u0915\u094b\u0908 \u0905\u0938\u0930 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e \u0932\u0947\u0915\u093f\u0928 \u091c\u0948\u0938\u0947-\u091c\u0948\u0938\u0947 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092c\u0926\u0932\u0924\u0940 \u0939\u0948 \u0935\u0948\u0938\u0947-\u0935\u0948\u0938\u0947 \u0909\u0938\u0915\u093e \u0905\u0938\u0930 XYZ \u092a\u0930 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u091c\u092c \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b92450 \u092a\u094d\u0930\u0924\u093f\u0917\u094d\u0930\u093e\u092e \u0938\u0947 \u092c\u0922\u093c\u0924\u0940 \u0939\u0948 \u0924\u094b XYZ \u0915\u094b \u0938\u094b\u0928\u093e \u0938\u0938\u094d\u0924\u0947 \u092e\u0947\u0902 \u092c\u0947\u091a\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948 \u0914\u0930 \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948 \u0935\u0948\u0938\u0947 \u0939\u0940 \u0905\u0917\u0930 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0917\u093f\u0930\u0924\u0940 \u0939\u0948\u00a0 \u0914\u0930 \u20b92450 \u092a\u094d\u0930\u0924\u093f\u0917\u094d\u0930\u093e\u092e \u0915\u0947 \u0928\u0940\u091a\u0947 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u0940 \u0939\u0948 \u0924\u094b XYZ \u0915\u094b \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u0939 \u0938\u094b\u0928\u093e \u090a\u0902\u091a\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u0947\u091a \u092a\u093e\u090f\u0917\u093e\u0964", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f 9 \u092e\u093e\u0930\u094d\u091a 2015 \u0915\u094b \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b92700 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u0930\u0939\u0924\u0940 \u0939\u0948\u0964 \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u20b92700 \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 ABC \u091c\u094d\u0935\u0947\u0932\u0930\u094d\u0938 \u0915\u094b \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0938\u092e\u092f \u092f\u093e\u0928\u0940 9 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b 15 \u0915\u093f\u0932\u094b \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 3.67 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u090f \u0925\u0940 \u091c\u092c\u0915\u093f \u0915\u0940\u092e\u0924 \u092c\u0922\u093c \u091c\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 9 \u092e\u093e\u0930\u094d\u091a 2015 \u0915\u094b 15 \u0915\u093f\u0932\u094b \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 4.05 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u090f \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 3 \u092e\u0939\u0940\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0926\u094b\u0928\u094b\u0902 \u092a\u093e\u0930\u094d\u091f\u093f\u092f\u094b\u0902 \u0915\u094b \u0907\u0938 \u0938\u092e\u091d\u094c\u0924\u0947 \u0915\u094b \u0916\u0924\u094d\u092e \u0915\u0930\u0928\u093e \u0939\u0948 \u0914\u0930 \u0938\u0947\u091f\u0932\u092e\u0947\u0902\u091f \u0915\u0930\u0928\u093e \u0939\u0948\u0964 \u0909\u0928\u0915\u0947 \u0938\u093e\u092e\u0928\u0947 \u0926\u094b \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u0948\u0902:", "\u0939\u092e \u0938\u0947\u091f\u0932\u092e\u0947\u0902\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0906\u0917\u0947 \u0914\u0930 \u0938\u092e\u091d\u0947\u0902\u0917\u0947 \u0932\u0947\u0915\u093f\u0928 \u0905\u092d\u0940 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0938\u093f\u0930\u094d\u092b \u092f\u0939 \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f 2 \u0924\u0930\u0939 \u0915\u0947 \u0938\u0947\u091f\u0932\u092e\u0947\u0902\u091f \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u092b\u093f\u091c\u093f\u0915\u0932 \u0938\u0947\u091f\u0932\u092e\u0947\u0902\u091f \u0914\u0930 \u0915\u0948\u0936 \u0938\u0947\u091f\u0932\u092e\u0947\u0902\u091f\u0964", "\u0905\u092c \u0924\u0915 \u0939\u092e\u0928\u0947 \u0938\u092e\u091d\u094c\u0924\u0947 \u0915\u094b \u0926\u0947\u0916\u093e \u0909\u0938\u0915\u0940 \u0915\u0940\u092e\u0924\u094b\u0902 \u0938\u0947 \u092a\u093e\u0930\u094d\u091f\u093f\u092f\u094b\u0902 \u092a\u0930 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u0905\u0938\u0930 \u0915\u094b \u0926\u0947\u0916\u093e, \u0932\u0947\u0915\u093f\u0928 \u0939\u092e\u0928\u0947 \u0905\u092c \u0924\u0915 \u0930\u093f\u0938\u094d\u0915 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0928\u0939\u0940\u0902 \u0915\u0940\u0964 \u0930\u093f\u0938\u094d\u0915 \u0915\u0947\u0935\u0932 \u0915\u0940\u092e\u0924\u094b\u0902 \u092e\u0947\u0902 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u092c\u0926\u0932\u093e\u0935 \u0915\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u092b\u093e\u0930\u0935\u0930\u094d\u0921 \u0915\u093e\u0902\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0914\u0930 \u092d\u0940 \u0915\u0941\u091b \u0915\u092e\u093f\u092f\u093e\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u094b \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964", "\u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0940 \u0907\u0928\u094d\u0939\u0940\u0902 \u0916\u093c\u093e\u092e\u093f\u092f\u094b\u0902 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0932\u093e\u092f\u093e \u0917\u092f\u093e \u091c\u093f\u0938\u0938\u0947 \u0930\u093f\u0938\u094d\u0915 \u0915\u094b \u0915\u092e \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0947\u0964", "\u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u093e\u092b\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0921\u093c\u093e \u0939\u094b \u091a\u0941\u0915\u093e \u0939\u0948\u0964 \u0907\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u0939\u092e \u092b\u094d\u092f\u0942\u091a\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0914\u0930 \u0909\u0938\u092e\u0947\u0902 \u0938\u094c\u0926\u0947 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0924\u0930\u0940\u0915\u094b\u0902 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "Very good information about Forward contract !!", "Thank you Girish, keep learning \ud83d\ude42", "very good explanation of contracts, no confusion after reading.", "Happy Learning \ud83d\ude42", "Very good initiative for new learner in share market.", "Thank you and happy learning \ud83d\ude42", "Thanks for sharing with us .. #zerodha", "Happy learning, Gulshaan. \ud83d\ude42", "It was quite elaborative and easy to understand, with example the subject was much clear.\nThanks ZERODHA,", "regards\nSuman Prasad", "Happy learning \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2015/01/M4-Ch1-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/01/M4-Ch1-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/01/M4-Ch1-chart2.jpg", "https://secure.gravatar.com/avatar/d096ad571a316b7efc07bc7764fc6ce1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/bb80bc9c1cc1c9a591c94d86020fc170?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/12e6dd3872fd03ecd620535fde5156cd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/9920ebcca870d91268937c7e4231c3a2?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/698dd09dfcca3e58166c85a739fcc6fa?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th>\n<p style=\"text-align: center;\"><b>Party</b></p>\n<p style=\"text-align: center;\"><b>\u092a\u093e\u0930\u094d\u091f\u0940</b><b>/</b><b>\u092d\u093e\u0917\u0940\u0926\u093e\u0930</b></p>\n</th>\n<th style=\"text-align: center;\"><b>Action</b><b> \u090f\u0915\u094d\u0936\u0928</b></th>\n<th>\n<p style=\"text-align: center;\"><b>Financial Impact</b></p>\n<p style=\"text-align: center;\"><b>\u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0905\u0938\u0930</b></p>\n</th>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">ABC </span><span style=\"font-weight: 400;\">\u091c\u094d\u0935\u0947\u0932\u0930</span></td>\n<td><span style=\"font-weight: 400;\">\u0917\u094b\u0932\u094d\u0921 \u0921\u0940\u0932\u0930 \u0938\u0947 </span><span style=\"font-weight: 400;\">@ Rs.2450/- </span><span style=\"font-weight: 400;\">\u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 \u0938\u094b\u0928\u093e \u0916\u0930\u0940\u0926\u0924\u093e \u0939\u0948</span></td>\n<td><span style=\"font-weight: 400;\">ABC </span><span style=\"font-weight: 400;\">\u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 </span><span style=\"font-weight: 400;\">38 </span><span style=\"font-weight: 400;\">\u0932\u093e\u0916 \u0930\u0941\u092a\u092f\u0947</span><span style=\"font-weight: 400;\"> ( 4.05 </span><span style=\"font-weight: 400;\">\u0915\u0930\u094b\u0921\u093c</span><span style=\"font-weight: 400;\"> \u2013 3.67 </span><span style=\"font-weight: 400;\">\u0915\u0930\u094b\u0921\u093c</span><span style=\"font-weight: 400;\">)</span><span style=\"font-weight: 400;\"> \u092c\u091a\u093e\u0924\u093e \u0939\u0948</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">XYZ </span><span style=\"font-weight: 400;\">\u0917\u094b\u0932\u094d\u0921 \u0921\u0940\u0932\u0930</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0907\u0938\u0947 </span><span style=\"font-weight: 400;\">ABC </span><span style=\"font-weight: 400;\">\u0915\u094b </span><span style=\"font-weight: 400;\">@ Rs.2450/- </span><span style=\"font-weight: 400;\">\u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 \u0938\u094b\u0928\u093e \u092c\u0947\u091a\u0928\u093e \u0939\u094b\u0917\u093e</span></td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">38 </span><span style=\"font-weight: 400;\">\u0932\u093e\u0916 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u0924\u093e \u0939\u0948</span></p>\n</td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<th>\n<p style=\"text-align: center;\"><b>Party</b><b> \u092a\u093e\u0930\u094d\u091f\u0940</b><b>/</b><b>\u092d\u093e\u0917\u0940\u0926\u093e\u0930</b></p>\n</th>\n<th>\n<p style=\"text-align: center;\"><b>Action</b></p>\n<p style=\"text-align: center;\"><b>\u090f\u0915\u094d\u0936\u0928</b></p>\n</th>\n<th>\n<p style=\"text-align: center;\"><b>Financial Impact</b><b> \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0905\u0938\u0930</b></p>\n</th>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">ABC </span><span style=\"font-weight: 400;\">\u091c\u094d\u0935\u0947\u0932\u0930</span></td>\n<td><span style=\"font-weight: 400;\">\u0907\u0938\u0947 </span><span style=\"font-weight: 400;\">XYZ </span><span style=\"font-weight: 400;\">\u0917\u094b\u0932\u094d\u0921 \u0921\u0940\u0932\u0930 \u0938\u0947 </span><span style=\"font-weight: 400;\">@ Rs.2450/-</span><span style=\"font-weight: 400;\"> \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 \u0938\u094b\u0928\u093e \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u0940 \u0939\u094b\u0917\u093e\u0964\u00a0</span></td>\n<td><span style=\"font-weight: 400;\">ABC </span><span style=\"font-weight: 400;\">\u0915\u094b</span><span style=\"font-weight: 400;\"> 59.5 </span><span style=\"font-weight: 400;\">\u0932\u093e\u0916</span> <span style=\"font-weight: 400;\">\u0930\u0941\u092a\u092f\u0947 </span><span style=\"font-weight: 400;\">( 3.67</span><span style=\"font-weight: 400;\"> \u0915\u0930\u094b\u0921\u093c </span><span style=\"font-weight: 400;\">\u00a0\u2013 3.075 </span><span style=\"font-weight: 400;\">\u0915\u0930\u094b\u0921\u093c</span><span style=\"font-weight: 400;\">)</span><span style=\"font-weight: 400;\"> \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 </span><span style=\"font-weight: 400;\">\u00a0</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">XYZ </span><span style=\"font-weight: 400;\">\u0917\u094b\u0932\u094d\u0921 \u0921\u0940\u0932\u0930\u00a0</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0907\u0938\u0947 </span><span style=\"font-weight: 400;\">ABC </span><span style=\"font-weight: 400;\">\u0915\u094b </span><span style=\"font-weight: 400;\">@ Rs.2450/-</span><span style=\"font-weight: 400;\"> \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 \u0938\u094b\u0928\u093e \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u0939\u0915</span><span style=\"font-weight: 400;\">/</span><span style=\"font-weight: 400;\">\u0905\u0927\u093f\u0915\u093e\u0930 \u0939\u0948</span></td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">XYZ </span><span style=\"font-weight: 400;\">\u0915\u094b</span><span style=\"font-weight: 400;\"> 59.5 </span><span style=\"font-weight: 400;\">\u0932\u093e\u0916 \u0930\u0941\u092a\u092f\u0947 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e</span></p>\n</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "2. \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f (Futures Contract)", "text": ["\u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0905\u0928\u0947\u0915 \u0938\u0940\u0927\u0947-\u0938\u093e\u0927\u0947 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093e \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u0947\u0916\u093e \u0925\u093e, \u091c\u0939\u093e\u0902 \u0926\u094b \u092a\u093e\u0930\u094d\u091f\u0940 \u090f\u0915 \u0926\u0942\u0938\u0930\u0947 \u0938\u0947 \u090f\u0915 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930\u0924\u0940 \u0939\u0948\u0902 \u0915\u093f \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u090f\u0915 \u092a\u093e\u0930\u094d\u091f\u0940 \u0915\u0941\u091b \u092e\u093e\u0932 \u0926\u0947\u0917\u0940 \u0914\u0930 \u0926\u0942\u0938\u0930\u0940 \u092a\u093e\u0930\u094d\u091f\u0940 \u0909\u0938 \u092e\u093e\u0932 \u0915\u0947 \u092c\u0926\u0932\u0947 \u0915\u0941\u091b \u092a\u0948\u0938\u093e \u0926\u0947\u0917\u0940\u0964 \u0939\u092e\u0928\u0947 \u0926\u0947\u0916\u093e \u0915\u093f \u0910\u0938\u093e\u00a0 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0948\u0938\u0947 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u092c\u0926\u0932\u093e\u0935 \u0915\u093e \u0907\u0928 \u092a\u093e\u0930\u094d\u091f\u093f\u092f\u094b\u0902 \u092a\u0930 \u0915\u094d\u092f\u093e \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u0947 \u0905\u0902\u0924 \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0947 \u091a\u093e\u0930 \u0930\u093f\u0938\u094d\u0915 \u092f\u093e \u0915\u092e\u093f\u092f\u094b\u0902 \u092a\u0930 \u092d\u0940 \u0928\u091c\u0930 \u0921\u093e\u0932\u0940 \u0925\u0940 \u0914\u0930 \u092f\u0939 \u092d\u0940 \u092c\u093e\u0924 \u0915\u0940 \u0925\u0940 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0907\u0938\u0940 \u0932\u093f\u090f \u092c\u0928\u093e\u092f\u093e \u0917\u092f\u093e \u091c\u093f\u0938\u0938\u0947 \u0907\u0928 \u0915\u094b \u0926\u0942\u0930 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0947:", "\u090f\u0915 \u092c\u093e\u0924 \u0938\u093e\u092b \u0939\u0948 \u0905\u0917\u0930 \u0906\u092a \u0915\u093f\u0938\u0940 \u0935\u0938\u094d\u0924\u0941 \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0915\u094b\u0908 \u0930\u093e\u092f \u0930\u0916\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u090f\u0915 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0938\u092e\u091d\u094c\u0924\u0947 \u092e\u0947\u0902 \u092a\u0948\u0938\u0947 \u0915\u092e\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u0938 \u0906\u092a\u0915\u094b \u090f\u0915 \u0910\u0938\u0940 \u092a\u093e\u0930\u094d\u091f\u0940 \u0922\u0942\u0902\u0922\u0928\u0940 \u0939\u0948 \u091c\u093f\u0938\u0915\u0940 \u0930\u093e\u092f \u0906\u092a\u0915\u0940 \u0930\u093e\u092f \u0938\u0947 \u0935\u093f\u092a\u0930\u0940\u0924 \u0939\u094b\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u092f\u0939 \u092d\u0940 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u0915\u0941\u091b \u0915\u092e\u093f\u092f\u093e\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0928 \u0915\u092e\u093f\u092f\u094b\u0902 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u0940 \u092b\u094d\u092f\u0942\u091a\u0930 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u0915\u094b \u0932\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093e \u0939\u0940 \u0938\u0941\u0927\u0930\u093e \u0939\u0941\u0906 \u0930\u0942\u092a \u0915\u0939\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0907\u0938\u0915\u094b \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u092c\u0928\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u0915\u093f \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0940 \u0916\u0942\u092c\u093f\u092f\u093e\u0902 \u0924\u094b \u092c\u0928\u0940 \u0930\u0939\u0947 \u0932\u0947\u0915\u093f\u0928 \u0909\u0938\u0915\u0940 \u0915\u092e\u093f\u092f\u093e\u0902 \u0926\u0942\u0930 \u0939\u094b \u091c\u093e\u090f\u0902\u0964 \u092e\u0924\u0932\u092c \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u092d\u0940 \u0906\u092a \u092b\u093e\u092f\u0926\u093e \u0915\u092e\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0905\u0917\u0930 \u0906\u092a\u0915\u0940 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0935\u0938\u094d\u0924\u0941 \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f\u00a0 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u090f\u0915 \u0920\u094b\u0938 \u0930\u093e\u092f \u0939\u094b\u0964", "\u0907\u0938\u0915\u094b \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0938\u092e\u091d\u0947\u0902\u0964 \u092a\u0941\u0930\u093e\u0928\u0947 \u091c\u092e\u093e\u0928\u0947 \u092e\u0947\u0902 \u0915\u093e\u0930 \u0915\u093e \u0915\u093e\u092e \u0925\u093e \u0932\u094b\u0917\u094b\u0902 \u0915\u094b \u090f\u0915 \u091c\u0917\u0939 \u0938\u0947 \u0926\u0942\u0938\u0930\u0940 \u091c\u0917\u0939 \u0932\u0947 \u091c\u093e\u0928\u093e\u0964 \u0928\u090f \u091c\u092e\u093e\u0928\u0947 \u0915\u0940 \u0915\u093e\u0930 \u0932\u094b\u0917\u094b\u0902 \u0915\u094b \u090f\u0915 \u091c\u0917\u0939 \u0938\u0947 \u0926\u0942\u0938\u0930\u0940 \u091c\u0917\u0939 \u0924\u094b \u0932\u0947 \u0939\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0938\u093e\u0925 \u092e\u0947\u0902 \u0909\u0938\u092e\u0947\u0902 \u0915\u0908 \u0924\u0930\u0939 \u0915\u0940 \u0926\u0942\u0938\u0930\u0940 \u0938\u0941\u0935\u093f\u0927\u093e\u090f\u0902 \u092d\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u091c\u0948\u0938\u0947 \u0938\u0940\u091f \u092c\u0947\u0932\u094d\u091f, \u090f\u092f\u0930 \u092c\u0948\u0917, \u092a\u093e\u0935\u0930 \u0938\u094d\u091f\u0940\u092f\u0930\u093f\u0902\u0917 \u0906\u0926\u093f\u0964 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0914\u0930 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0915\u0941\u091b \u0907\u0938\u0940 \u0924\u0930\u0939 \u0915\u093e \u0905\u0902\u0924\u0930 \u0939\u0948\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0905\u092c \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0914\u0930 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093e \u0906\u0927\u093e\u0930 \u090f\u0915 \u0939\u0940 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u093e \u090f\u0915 \u0924\u0930\u0940\u0915\u093e \u092f\u0939 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0939\u092e \u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u0915\u0947 \u0905\u0902\u0924\u0930 \u0915\u094b \u0938\u092e\u091d\u0947\u0902\u0964", "\u0939\u092e\u0928\u0947 \u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0932\u093f\u092f\u093e \u0925\u093e \u091c\u0939\u093e\u0902 \u092a\u0930 ABC \u091c\u094d\u0935\u0947\u0932\u0930\u094d\u0938 \u0928\u0947 XYZ \u0917\u094b\u0932\u094d\u0921 \u0938\u0947\u0932\u0930 \u0938\u0947 \u090f\u0915 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u093f\u092f\u093e \u0925\u093e \u0915\u093f \u0935\u0939 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0938\u092e\u092f \u0915\u0947 \u092c\u093e\u0926 \u0915\u0941\u091b \u0938\u094b\u0928\u093e \u0916\u0930\u0940\u0926\u0947\u0917\u093e\u0964 \u0905\u092c \u091c\u0930\u093e \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0940\u091c\u093f\u090f \u0915\u093f ABC \u0915\u094b \u0910\u0938\u0940 \u0915\u094b\u0908 \u092a\u093e\u0930\u094d\u091f\u0940 \u0928\u0939\u0940\u0902 \u092e\u093f\u0932\u0924\u0940 \u091c\u093f\u0938\u0938\u0947 \u0935\u0939 \u092f\u0939 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930 \u092a\u093e\u0924\u093e, \u0924\u094b \u0915\u094d\u092f\u093e \u0939\u094b\u0924\u093e? ABC \u0915\u0940 \u0938\u094b\u0928\u0947 \u0915\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u090f\u0915 \u0930\u093e\u092f \u0939\u0948 \u0914\u0930 \u0935\u0939 \u090f\u0915 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0932\u0947\u0915\u093f\u0928 \u0909\u0928\u094d\u0939\u0947\u0902 \u0915\u094b\u0908 \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u092e\u093f\u0932 \u0930\u0939\u093e \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0935\u0939 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930 \u0938\u0915\u0947\u0964", "\u0905\u092c \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f ABC \u0928\u0908 \u092a\u093e\u0930\u094d\u091f\u0940 \u0915\u094b \u0922\u0942\u0902\u0922\u0928\u0947 \u092e\u0947\u0902 \u0938\u092e\u092f \u0932\u0917\u093e\u0928\u0947 \u0915\u0947 \u092c\u091c\u093e\u092f \u0924\u092f \u0915\u0930\u0924\u0940 \u0939\u0948 \u0915\u093f \u0935\u094b \u090f\u0915 \u0910\u0938\u0947 \u0938\u0941\u092a\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u091c\u093e\u090f\u0917\u0940, \u091c\u0939\u093e\u0902 \u092a\u0930 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0932\u094b\u0917 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0926\u0942\u0938\u0930\u0940 \u092a\u093e\u0930\u094d\u091f\u0940 \u0915\u094b \u0922\u0942\u0902\u0922 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0905\u092c \u0907\u0938 \u0938\u0941\u092a\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 ABC \u0915\u094b \u0938\u093f\u0930\u094d\u092b \u092f\u0939 \u0918\u094b\u0937\u0923\u093e \u0915\u0930\u0928\u0940 \u0939\u0948 \u0915\u093f \u092e\u0947\u0930\u0940 \u0938\u094b\u0928\u0947 \u092a\u0930 \u092f\u0939 \u0930\u093e\u092f \u0939\u0948 \u0914\u0930 \u091c\u093f\u0938\u0915\u094b \u0907\u0938 \u0930\u093e\u092f \u0915\u0947 \u0935\u093f\u092a\u0930\u0940\u0924 \u0906\u0915\u0930 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930\u0928\u093e \u0939\u0948 \u0935\u0939 \u0906\u090f\u0964 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u092f\u0939 \u092d\u0940 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0907\u0938 \u0938\u0941\u092a\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0932\u094b\u0917 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u0940 \u0915\u0947\u0935\u0932 \u0938\u094b\u0928\u0947 \u092a\u0930 \u0939\u0940 \u0928\u0939\u0940\u0902 \u091a\u093e\u0902\u0926\u0940, \u0924\u0947\u0932, \u0924\u093e\u0902\u092c\u0947 \u091c\u0948\u0938\u0940 \u0939\u0930 \u0935\u0938\u094d\u0924\u0941 \u0914\u0930 \u092f\u0939\u093e\u0901 \u0924\u0915 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u092a\u0930 \u090f\u0915 \u0930\u093e\u092f \u0939\u0948 \u0914\u0930 \u0935\u0939 \u090f\u0915 \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u0938\u0940 \u092a\u093e\u0930\u094d\u091f\u0940 \u0915\u094b \u0922\u0942\u0902\u0922 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964", "\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0915\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0947 ABC \u091c\u094d\u0935\u0948\u0932\u0930 \u091c\u0948\u0938\u0940 \u0915\u093f\u0938\u0940 \u090f\u0915 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0928\u0939\u0940\u0902 \u092c\u0932\u094d\u0915\u093f \u0939\u0930 \u090f\u0915 \u0935\u094d\u092f\u0915\u094d\u0924\u093f \u0915\u094b \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0902 \u091c\u094b \u0910\u0938\u093e \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0938\u0941\u092a\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092f\u093e \u0938\u0941\u092a\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0939\u0940 \u0939\u092e \u0906\u092e \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0939\u092e \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0915\u092e\u094b\u0921\u093f\u091f\u0940 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092d\u0940\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0907\u0938\u0932\u093f\u090f \u0932\u093e\u092f\u093e \u0917\u092f\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0915\u0941\u091b \u0915\u092e\u093f\u092f\u093e\u0902 \u0925\u0940 \u0914\u0930 \u0909\u0928\u0915\u094b \u0926\u0942\u0930 \u0915\u0930\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0925\u093e\u0964 \u0906\u0907\u090f \u0905\u092c \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0910\u0938\u0940 \u0915\u094c\u0928 \u0938\u0940 \u091a\u0940\u091c\u0947\u0902 \u0939\u0948\u0902 \u091c\u094b \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u093e\u0902\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0938\u0947 \u0905\u0932\u0917 \u0939\u0948\u0964", "\u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0907\u0928\u092e\u0947\u0902 \u0938\u0947 \u0915\u0941\u091b \u092c\u093e\u0924\u0947\u0902 \u0906\u092a \u0915\u094b \u0905\u092d\u0940 \u0938\u092e\u091d \u092e\u0947\u0902 \u0928\u093e \u0906\u090f\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u092c\u093e\u0926 \u092e\u0947\u0902 \u091c\u092c \u0939\u092e \u0906\u092a\u0915\u094b \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0938\u092e\u091d\u0928\u093e \u0906\u0938\u093e\u0928 \u0939\u094b\u0917\u093e\u0964 \u092b\u093f\u0932\u0939\u093e\u0932 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u090f\u0915 \u092c\u093e\u0930 \u0907\u0928\u0915\u0947 \u0905\u0902\u0924\u0930 \u0915\u094b \u0926\u0947\u0916 \u0932\u0940\u091c\u093f\u090f\u0964", "\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0905\u0902\u0921\u0930\u0932\u093e\u0907\u0902\u0917 \u090f\u0938\u0947\u091f \u0915\u0947 \u0938\u093e\u0925 \u090a\u092a\u0930 \u0928\u0940\u091a\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0939\u092e\u093e\u0930\u0947 ABC \u091c\u094d\u0935\u0947\u0932\u0930 \u0935\u093e\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u090f\u0915 \u090f\u0938\u0947\u091f \u092f\u093e\u0928\u0940 \u0938\u094b\u0928\u093e \u0914\u0930 \u0909\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u0932\u0947 \u0915\u0930 ABC \u0914\u0930 XYZ\u00a0 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u090f\u0915 \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0939\u0941\u0906 \u0925\u093e\u0964 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u090f\u0938\u0947\u091f \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0938\u094b\u0928\u0947 \u0915\u0940 \u091c\u0917\u0939 \u201c\u0938\u094b\u0928\u0947 \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930\u201d \u0939\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0938\u094b\u0928\u093e \u0909\u0938\u0915\u093e \u0905\u0902\u0921\u0930\u0932\u093e\u0907\u0902\u0917 \u0939\u094b\u0917\u093e\u0964 \u0905\u092c \u091c\u092c \u092d\u0940 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u0939\u094b\u0917\u0940 \u0924\u094b \u090f\u0938\u0947\u091f \u092f\u093e\u0928\u0940 \u201c\u0938\u094b\u0928\u0947 \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930\u201d \u0915\u0940 \u0915\u0940\u092e\u0924 \u092d\u0940 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u0939\u094b\u0917\u0940\u0964", "\u090f\u0915 \u0938\u092e\u093e\u0928 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0939\u092e\u0928\u0947 \u0926\u0947\u0916\u093e \u0925\u093e \u0915\u093f ABC \u091c\u094d\u0935\u0947\u0932\u0930 \u0935\u093e\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 ABC \u0914\u0930 XYZ \u0915\u0947 \u092c\u0940\u091a \u091c\u094b \u0938\u092e\u091d\u094c\u0924\u093e \u0939\u0941\u0906 \u0925\u093e \u0935\u0939 15 \u0915\u093f\u0932\u094b \u0938\u094b\u0928\u0947 \u0915\u093e \u0925\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u092f\u0939 \u0938\u092e\u091d\u094c\u0924\u093e 14.5 \u0915\u093f\u0932\u094b \u092f\u093e 15.5 \u0915\u093f\u0932\u094b \u092f\u093e 15.2 \u0915\u093f\u0932\u094b \u0915\u093e \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u093e \u0925\u093e \u092f\u093e\u0928\u0940 \u092f\u0939 \u0938\u092e\u091d\u094c\u0924\u093e \u0926\u094b\u0928\u094b\u0902 \u092a\u093e\u0930\u094d\u091f\u093f\u092f\u094b\u0902 \u0915\u0940 \u0938\u0939\u0942\u0932\u093f\u092f\u0924 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092c\u0926\u0932\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0925\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u092f\u0939 \u0938\u092e\u091d\u094c\u0924\u093e \u0938\u092c\u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0938\u092e\u093e\u0928 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0935\u0948\u0938\u0947 \u0939\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092c\u0947\u091a\u0947 \u0914\u0930 \u0916\u0930\u0940\u0926\u0947 \u091c\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u2013\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093f\u0938\u0940 \u0915\u094b \u092d\u0940 \u092c\u0947\u091a\u0947 \u0914\u0930 \u0916\u0930\u0940\u0926\u0947 \u091c\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u092e\u0948\u0902\u0928\u0947 \u0915\u093f\u0938\u0940 \u0926\u0942\u0938\u0930\u0947 \u0915\u0947 \u0938\u093e\u0925 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093f\u092f\u093e \u0939\u0948 \u0924\u094b \u092d\u0940 \u092f\u0939\u093e\u0902 \u092e\u0948\u0902 \u0909\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0938\u0947 \u0915\u092d\u0940 \u092d\u0940 \u0928\u093f\u0915\u0932 \u0938\u0915\u0924\u093e \u0939\u0942\u0902, \u0905\u0917\u0930 \u092e\u0947\u0930\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u093e \u0915\u094b\u0908 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092e\u094c\u091c\u0942\u0926 \u0939\u094b\u0964 \u091c\u092c\u0915\u093f \u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u092e\u0941\u091d\u0947 \u0905\u092a\u0928\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092f\u093e\u0928\u0940 \u0938\u092e\u091d\u094c\u0924\u0947 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u094b\u0924\u093e \u092d\u0932\u0947 \u0939\u0940 \u092e\u0947\u0930\u0940 \u0905\u092a\u0928\u0947 \u090f\u0938\u0947\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092f\u093e \u0909\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0930\u093e\u092f \u092c\u0926\u0932 \u0917\u0908 \u0939\u094b\u0964", "\u092b\u094d\u092f\u0942\u091a\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0928\u093f\u092f\u092e\u094b\u0902 \u0938\u0947 \u0928\u093f\u092f\u0902\u0924\u094d\u0930\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u2013\u00a0 \u092b\u094d\u092f\u0942\u091a\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0914\u0930 \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u090f\u0915 \u0928\u093f\u092f\u093e\u092e\u0915 \u092a\u094d\u0930\u093e\u0927\u093f\u0915\u0930\u0923 \u092f\u093e \u0930\u0947\u0917\u0941\u0932\u0947\u091f\u0930\u0940 \u0905\u0925\u0949\u0930\u093f\u091f\u0940 \u0938\u0947 \u0928\u093f\u092f\u0902\u0924\u094d\u0930\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u0964\u00a0 \u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u092f\u0939 \u0915\u093e\u092e SEBI (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u090f\u0902\u0921 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092c\u094b\u0930\u094d\u0921 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e) \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0928\u093f\u092f\u0902\u0924\u094d\u0930\u093f\u0924 \u0939\u094b\u0928\u0947 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0907\u0938 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0917\u0921\u093c\u092c\u0921\u093c\u0940 \u0915\u0940 \u0917\u0941\u0902\u091c\u093e\u0907\u0936 \u0915\u092e \u0930\u0939\u0924\u0940 \u0939\u0948\u0964", "\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093e \u0938\u092e\u092f \u0928\u093f\u0930\u094d\u0927\u093e\u0930\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u2013 \u0938\u092d\u0940 \u0924\u0930\u0939 \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093f\u0938\u0940 \u0928 \u0915\u093f\u0938\u0940 \u0938\u092e\u092f \u0938\u0940\u092e\u093e \u0938\u0947 \u0928\u093f\u0930\u094d\u0927\u093e\u0930\u093f\u0924 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 ABC \u091c\u094d\u0935\u0948\u0932\u0930 \u0914\u0930 XYZ \u0935\u093e\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u094b \u0926\u0947\u0916\u0947\u0902 \u0924\u094b \u0935\u0939\u093e\u0902 \u092f\u0939 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f 3 \u092e\u0939\u0940\u0928\u0947 \u0915\u093e \u0925\u093e \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u092f\u0939\u0940 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093f\u0938\u0940 \u092b\u094d\u092f\u0942\u091a\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u0915\u093f\u092f\u093e \u091c\u093e\u090f \u0924\u094b \u0935\u0939\u093e\u0902 \u092a\u0930 1 \u092e\u0939\u0940\u0928\u0947 2 \u092e\u0939\u0940\u0928\u0947 3 \u092e\u0939\u0940\u0928\u0947 \u091c\u0948\u0938\u0940 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0905\u0935\u0927\u093f \u0915\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u092c \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0916\u0924\u094d\u092e \u0939\u094b \u0930\u0939\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0915\u094b \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0915\u0948\u0936 \u0938\u0947\u091f\u0947\u0932\u092e\u0947\u0902\u091f \u2013 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093e \u0938\u0947\u091f\u0932\u092e\u0947\u0902\u091f \u0915\u0948\u0936 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0915\u093f \u0926\u094b\u0928\u094b\u0902 \u0915\u0940\u092e\u0924\u094b\u0902 \u0915\u0947 \u092c\u0940\u091a \u0915\u093e \u0905\u0902\u0924\u0930 \u0939\u0940 \u0915\u0948\u0936 \u092e\u0947\u0902 \u0905\u0926\u093e \u0915\u0930\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0915\u093f\u0938\u0940 \u092d\u094c\u0924\u093f\u0915 \u090f\u0938\u0947\u091f \u0915\u0940 \u090f\u0915 \u091c\u0917\u0939 \u0938\u0947 \u0926\u0942\u0938\u0930\u0940 \u091c\u0917\u0939 \u0921\u093f\u0932\u0940\u0935\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u092f\u0939 \u0915\u0948\u0936 \u0938\u0947\u091f\u0947\u0932\u092e\u0947\u0902\u091f \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u0928\u093f\u092f\u0902\u0924\u094d\u0930\u093f\u0924 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0947 \u0928\u093f\u092f\u093e\u092e\u0915 \u092a\u094d\u0930\u093e\u0927\u093f\u0915\u0930\u0923 \u0915\u0947 \u0926\u0947\u0916\u0930\u0947\u0916 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0907\u0928 \u0938\u093e\u0930\u0947 \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u094b \u090f\u0915 \u091f\u0947\u092c\u0932 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902", "", "\u092f\u0939\u093e\u0902 \u092a\u0930 \u0906\u092a\u0915\u094b \u090f\u0915 \u0914\u0930 \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092c\u093e\u0924 \u091c\u093e\u0928 \u0932\u0947\u0928\u0940 \u091a\u093e\u0939\u093f\u090f, \u0935\u0939 \u0939\u0948 \u2013 \u0938\u094d\u092a\u0949\u091f \u0915\u0940\u092e\u0924 \u0914\u0930 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940\u092e\u0924 \u0915\u093e \u0905\u0902\u0924\u0930\u0964 \u0915\u094b\u0908 \u092d\u0940 \u090f\u0938\u0947\u091f \u0906\u092e \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u091c\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u093f\u0915\u0924\u093e \u0939\u0948 \u0935\u0939 \u0915\u0940\u092e\u0924 \u0938\u094d\u092a\u0949\u091f \u0915\u0940\u092e\u0924 \u0915\u0939\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u091c\u092c \u0939\u092e \u0938\u094b\u0928\u0947 \u0915\u094b \u0905\u0902\u0921\u0930\u0932\u093e\u0907\u0902\u0917 \u090f\u0938\u0947\u091f \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0939\u092e \u0938\u094b\u0928\u0947 \u0915\u0940 \u0926\u094b \u0915\u0940\u092e\u0924\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902- \u090f\u0915 \u0915\u0940\u092e\u0924 \u091c\u093f\u0938 \u092a\u0930 \u0938\u094b\u0928\u093e \u0906\u092e \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092c\u093f\u0915 \u0930\u0939\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 \u0938\u094d\u092a\u0949\u091f \u0915\u0940\u092e\u0924 \u0915\u0939\u0947\u0902\u0917\u0947 \u0914\u0930 \u0926\u0942\u0938\u0930\u0940 \u0915\u0940\u092e\u0924 \u091c\u093f\u0938 \u092a\u0930 \u0938\u094b\u0928\u093e \u092b\u094d\u092f\u0942\u091a\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092c\u093f\u0915 \u0930\u0939\u093e \u0939\u0948 \u091c\u093f\u0938\u0947 \u0939\u092e \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940\u092e\u0924 \u0915\u0939\u0947\u0902\u0917\u0947\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0938\u094d\u092a\u0949\u091f \u0915\u0940\u092e\u0924 \u0914\u0930 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940\u092e\u0924 \u090f\u0915 \u0938\u093e\u0925 \u0939\u0940 \u091a\u0932\u0924\u0947 \u0939\u0948\u0902 \u090f\u0915 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0926\u0942\u0938\u0930\u093e \u092d\u0940 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0905\u092c \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0940 \u0915\u0941\u091b \u0914\u0930 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092c\u093e\u0924\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0914\u0930 \u0917\u0939\u0930\u093e\u0908 \u0938\u0947 \u091c\u093e\u0928\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u0915\u0941\u091b \u0914\u0930 \u092c\u093e\u0924\u094b\u0902 \u0915\u094b \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964 \u0935\u0948\u0938\u0947 \u0907\u0928 \u092c\u093e\u0924\u094b\u0902 \u0915\u094b \u0939\u092e \u092c\u093e\u0926 \u092e\u0947\u0902 \u0914\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091c\u093e\u0928\u0947\u0902\u0917\u0947, \u0932\u0947\u0915\u093f\u0928 \u092f\u0939\u093e\u0902 \u0909\u0928\u0915\u094b \u092e\u094b\u091f\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0938\u092e\u091d \u0932\u0947\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0932\u0949\u091f \u0938\u093e\u0907\u091c (Lot Size) \u2013 \u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u092a\u0939\u0932\u0947 \u092d\u0940 \u092c\u093e\u0924 \u0915\u0930 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0938\u092c\u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0938\u092e\u093e\u0928 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0907\u0938\u0932\u093f\u090f \u0909\u0928\u092e\u0947\u0902 \u0915\u0941\u091b \u092c\u093e\u0924\u0947\u0902 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902\u0964 \u090f\u0915 \u0910\u0938\u0940 \u0939\u0940 \u091a\u0940\u091c \u0939\u0948 \u0932\u0949\u091f \u0938\u093e\u0907\u091c\u0964 \u0932\u0949\u091f \u0938\u093e\u0907\u091c \u0939\u092e\u0947\u0902 \u092f\u0939 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0939\u0930 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0906\u092a \u0915\u092e \u0938\u0947 \u0915\u092e \u0915\u093f\u0924\u0928\u0947 \u092e\u093e\u0924\u094d\u0930\u093e \u0915\u093e \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0932\u0949\u091f \u0938\u093e\u0907\u091c \u0939\u0930 \u090f\u0938\u0947\u091f \u0915\u0947 \u0932\u093f\u090f \u0905\u0932\u0917 \u0905\u0932\u0917 \u0939\u094b\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u090f\u0915 \u090f\u0938\u0947\u091f \u092e\u0947\u0902 \u090f\u0915 \u0938\u092e\u093e\u0928\u0964", "\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 (Contract Value) \u092f\u093e \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0940 \u0915\u0940\u092e\u0924\u2013 \u00a0ABC \u0914\u0930 XYZ \u0935\u093e\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 ABC \u0928\u0947 15 \u0915\u093f\u0932\u094b \u0938\u094b\u0928\u093e 2450 \u0930\u0941\u092a\u090f \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092f\u093e\u0928\u0940 24,50,000 \u0930\u0941\u092a\u090f \u092a\u094d\u0930\u0924\u093f \u0915\u093f\u0932\u094b\u0917\u094d\u0930\u093e\u092e \u0915\u0940 \u0926\u0930 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093f\u092f\u093e \u0925\u093e\u0964 \u0907\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 15 \u0915\u093f\u0932\u094b \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0939\u0941\u0908 3.675 \u0915\u0930\u094b\u0921\u093c \u0924\u094b \u092f\u0939\u093e\u0902 \u092a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942\u00a0 \u0925\u0940 3.675 \u0915\u0930\u094b\u0921\u093c \u0930\u0941\u092a\u090f \u092e\u0924\u0932\u092c \u092e\u093e\u0924\u094d\u0930\u093e (15 \u0915\u093f\u0932\u094b\u0917\u094d\u0930\u093e\u092e) \u0914\u0930 \u0915\u0940\u092e\u0924 (24,50,000) \u0915\u093e \u0917\u0941\u0923\u0915 ( \u092e\u093e\u0924\u094d\u0930\u093e \u00d7 \u0915\u0940\u092e\u0924)\u0964 \u091a\u0942\u0902\u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u090f\u0915 \u0938\u092e\u093e\u0928 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u092f\u093e\u0928\u0940 \u0935\u0939\u093e\u0902 \u092e\u093e\u0924\u094d\u0930\u093e \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u0907\u0938\u0932\u093f\u090f \u090f\u0915 \u092b\u094d\u092f\u0942\u091a\u0930 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u092f\u093e \u0938\u092e\u091d\u094c\u0924\u0947 \u0915\u093e \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0939\u094b\u0917\u093e \u0932\u0949\u091f \u0938\u093e\u0907\u091c \u00d7 \u0915\u0940\u092e\u0924", "\u092e\u093e\u0930\u094d\u091c\u093f\u0928 (Margin)\u2013 ABC \u0914\u0930 XYZ \u0935\u093e\u0932\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0926\u094b\u0928\u094b\u0902 \u0915\u0947 \u092c\u0940\u091a 9 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u090f\u0915 \u0938\u092e\u091d\u094c\u0924\u093e \u0939\u0941\u0906 \u091c\u094b 9 \u092e\u093e\u0930\u094d\u091a 2015 \u0915\u094b \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930 \u0939\u094b\u0928\u093e \u0925\u093e\u0964 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0932\u093f\u090f \u0926\u094b\u0928\u094b\u0902 \u092a\u093e\u0930\u094d\u091f\u093f\u092f\u094b\u0902 \u0928\u0947 \u090f\u0915 \u0926\u0942\u0938\u0930\u0947 \u0915\u094b \u0935\u091a\u0928 \u0926\u093f\u092f\u093e \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0914\u0930 \u0915\u094b\u0908 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0928\u0939\u0940\u0902 \u0939\u0941\u0906 \u0925\u093e\u0964", "\u0932\u0947\u0915\u093f\u0928 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092b\u094d\u092f\u0942\u091a\u0930 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u0906\u092a \u091c\u0948\u0938\u0947 \u0939\u0940 \u0938\u094c\u0926\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u092a\u093e\u0930\u094d\u091f\u0940 \u0915\u0941\u091b \u092a\u0948\u0938\u0947 \u091c\u092e\u093e \u0915\u0930\u0924\u0940 \u0939\u0948\u0902\u0964 \u0907\u0938\u0947 \u0906\u092a \u091f\u094b\u0915\u0928 \u092f\u093e \u090f\u0921\u0935\u093e\u0902\u0938 \u091c\u0948\u0938\u0940 \u091a\u0940\u091c \u092e\u093e\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u092a\u0948\u0938\u093e \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u092a\u093e\u0938 \u091c\u092e\u093e \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u092f\u0939 \u0938\u094c\u0926\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u093e \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u0930\u0915\u092e \u0915\u094b \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0905\u092e\u093e\u0909\u0902\u091f \u092f\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u092b\u094d\u092f\u0942\u091a\u0930 \u0938\u094c\u0926\u0947 \u0915\u0940 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091a\u0940\u091c \u0939\u0948\u0964", "\u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940 (Expiry)\u2013 \u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u0938\u094c\u0926\u0947 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0938\u092e\u092f \u0915\u0947 \u0932\u093f\u090f \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u093f\u0938 \u0926\u093f\u0928 \u092f\u0939 \u0938\u092e\u091d\u094c\u0924\u093e \u0916\u0924\u094d\u092e \u0939\u094b\u0924\u093e \u0939\u0948 \u0909\u0938 \u0926\u093f\u0928 \u0915\u094b \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u091c\u093f\u0938 \u0926\u093f\u0928 \u092f\u0939 \u0938\u094c\u0926\u093e \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930 \u0939\u094b\u0924\u093e \u0939\u0948 \u0909\u0938\u0940 \u0926\u093f\u0928 \u0928\u092f\u093e \u0938\u094c\u0926\u093e \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092a\u0930 \u092e\u093f\u0932\u0928\u0947 \u0932\u0917\u0924\u093e \u0939\u0948\u0964", "\u0905\u0917\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u092b\u094d\u092f\u0942\u091a\u0930 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923\u094b\u0902 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947\u0964", "Such a great things you are doing for beginners like me . I do not have perfect words to thanks you.\nThank you so much zerodha varsity team.", "\u0906\u092a\u0915\u093e \u0905\u092d\u093f\u0928\u0928\u094d\u0926\u0928 \u0939\u0948\u0964 \ud83d\ude42", "\u0936\u0947\u092f\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0940 \u0939\u093f\u0928\u094d\u0926\u0940 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u0947 \u0932\u093f\u092f\u0947 \u0915\u092e\u093e\u0932 \u092a\u094d\u0932\u0947\u091f\u092b\u093e\u0930\u094d\u092e \u0939\u0948\u0964 \u0939\u093f\u0928\u094d\u0926\u0940 \u092e\u093e\u0927\u094d\u092f\u092e\u094b\u0902 \u0915\u0947 \u0932\u093f\u092f\u0947 \u0936\u0947\u092f\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0938\u0940\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u092f\u0947 \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u0940 \u0938\u093e\u092e\u0917\u094d\u0930\u0940 \u0939\u0948\u0964 \u0915\u093f\u0924\u0928\u0940 \u0938\u0930\u0932 \u0935 \u0915\u092e\u093e\u0932 \u0915\u0940 \u0938\u093e\u092e\u0917\u094d\u0930\u0940 \u0939\u0948\u0964 \u0939\u093f\u0928\u094d\u0926\u0940 \u0935\u093e\u0932\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u092f\u0947 \u0926\u093f\u092e\u093e\u0917 \u092a\u0930 \u0935\u093f\u0932\u094d\u0915\u0941\u0932 \u092d\u0940 \u091c\u094b\u0930 \u0928\u0939\u0940\u0902 \u0921\u093e\u0932\u0928\u093e \u092a\u0921\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0938\u092d\u0940 \u092a\u094d\u0930\u0915\u0930\u0923 \u0939\u093f\u0928\u094d\u0926\u0940 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u0939\u0948\u0902 \u0906\u092a\u0915\u094b \u0917\u094d\u0930\u093e\u0939\u0915\u094b\u0902 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924\u094b\u0902 \u0915\u093e \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u0924\u0947 \u0939\u0941\u092f\u0947 \u0938\u092d\u0940 Topics \u092e\u0947\u0902 \u0939\u093f\u0928\u094d\u0926\u0940 \u0935\u093f\u0915\u0932\u094d\u092a \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0936\u093e\u092f\u0926 \u0906\u092a \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0910\u0938\u093e \u091c\u0930\u0942\u0930 \u0915\u0930\u0917\u0947\u0902 ! \u092e\u0941\u091d\u0947 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f\u2026\u2026\u092d\u0935\u093f\u0937\u094d\u092f\u2026\u2026.. \u092e\u0947\u0902\u2026\u0939\u093f\u0928\u094d\u0926\u0940\u2026.. \u092e\u0947\u0902\u2026.\u0964", "\u0939\u092e \u0905\u092d\u0940 \u0909\u0928 \u092a\u0930 \u0915\u093e\u092e \u0930\u0939\u0947 \u0939\u0948 \u092c\u093e\u0915\u093f \u0907 \u092e\u0949\u0921\u094d\u092f\u0942\u0932\u094d\u0938 \u092d\u0940 \u091c\u0932\u094d\u0926 \u0939\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u094b\u0902\u0917\u0947\u0903\u0964", "\u0936\u0947\u092f\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0940 \u0939\u093f\u0928\u094d\u0926\u0940 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u0947 \u0932\u093f\u092f\u0947 \u0915\u092e\u093e\u0932 \u0915\u093e \u092a\u094d\u0932\u0947\u091f\u092b\u093e\u0930\u094d\u092e \u0939\u0948\u0964 \u0939\u093f\u0928\u094d\u0926\u0940 \u092e\u093e\u0927\u094d\u092f\u092e\u094b\u0902 \u0915\u0947 \u0932\u093f\u092f\u0947 \u0936\u0947\u092f\u0930 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0938\u0940\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u092f\u0947 \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u0940 \u0938\u093e\u092e\u0917\u094d\u0930\u0940 \u0939\u0948\u0964 \u0915\u093f\u0924\u0928\u0940 \u0938\u0930\u0932 \u0935 \u0915\u092e\u093e\u0932 \u0915\u0940 \u0938\u093e\u092e\u0917\u094d\u0930\u0940 \u0939\u0948\u0964 \u0915\u092e\u093e\u0932 \u0915\u0940 \u0938\u0930\u0932 \u0935 \u0930\u0941\u091a\u093f\u0915\u0930 \u0939\u093f\u0928\u094d\u0926\u0940 \u092d\u093e\u0937\u093e \u0915\u093e \u092a\u094d\u0930\u092f\u094b\u0917 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0935\u093e\u0939 ! \u0915\u094d\u092f\u093e \u092d\u093e\u0937\u093e \u0939\u0948 ? \u0939\u093f\u0928\u094d\u0926\u0940 \u0935\u093e\u0932\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u092f\u0947 \u0926\u093f\u092e\u093e\u0917 \u092a\u0930 \u0935\u093f\u0932\u094d\u0915\u0941\u0932 \u092d\u0940 \u091c\u094b\u0930 \u0928\u0939\u0940\u0902 \u0921\u093e\u0932\u0928\u093e \u092a\u0921\u0924\u093e \u0939\u0948\u0964\u0932\u0947\u0915\u093f\u0928 \u0938\u092d\u0940 \u092a\u094d\u0930\u0915\u0930\u0923 \u0939\u093f\u0928\u094d\u0926\u0940 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u0939\u0948\u0902 \u0906\u092a\u0915\u094b \u0917\u094d\u0930\u093e\u0939\u0915\u094b\u0902 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924\u094b\u0902 \u0915\u093e \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u0924\u0947 \u0939\u0941\u092f\u0947 \u0938\u092d\u0940 Topics \u092e\u0947\u0902 \u0939\u093f\u0928\u094d\u0926\u0940 \u0935\u093f\u0915\u0932\u094d\u092a \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0936\u093e\u092f\u0926 \u0906\u092a \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u0910\u0938\u093e \u091c\u0930\u0942\u0930 \u0915\u0930\u0917\u0947\u0902 ! \u092e\u0941\u091d\u0947 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f\u2026\u2026\u092d\u0935\u093f\u0937\u094d\u092f\u2026\u2026.. \u092e\u0947\u0902\u2026\u0939\u093f\u0928\u094d\u0926\u0940\u2026.. \u092e\u0947\u0902\u2026.\u0964 \u090f\u0915 \u0938\u0930\u0932 \u0935 \u0938\u0941\u0930\u0941\u091a\u093f\u092a\u0942\u0930\u094d\u0923 \u092d\u093e\u0937\u093e \u0915\u0947 \u0932\u093f\u092f\u0947 \u092c\u0939\u0941\u0924 \u0927\u0928\u094d\u092f\u0935\u093e\u0926 !", "\u0939\u092e \u0905\u092d\u0940 \u0909\u0928 \u092a\u0930 \u0915\u093e\u092e \u0930\u0939\u0947 \u0939\u0948 \u092c\u093e\u0915\u093f \u0907 \u092e\u0949\u0921\u094d\u092f\u0942\u0932\u094d\u0938 \u092d\u0940 \u091c\u0932\u094d\u0926 \u0939\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u094b\u0902\u0917\u0947\u0903\u0964", "\u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0935\u0940\u0921\u093f\u092f\u094b \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092c\u0939\u0941\u0924 \u092c\u0939\u0941\u0924 \u0927\u0928\u094d\u092f\u0935\u093e\u0926 \u0964\n\u0928\u090f \u0932\u094b\u0917\u094b \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u092c\u0939\u0941\u0924 \u091c\u0930\u0942\u0930\u0940 \u0925\u093e, \u0915\u0943\u092a\u092f\u093e VARSITY \u0915\u094b \u092d\u0940 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u092c\u0928\u093e\u092f\u0947\u0964 youtube \u092a\u0930 \u092d\u0940 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0935\u0940\u0921\u093f\u092f\u094b \u0921\u093e\u0932\u0947 \u0964", "\u0906\u092a\u0915\u093e \u0927\u0928\u094d\u092f\u0935\u093e\u0926 \u0939\u092e \u0907\u0938 \u092b\u0940\u0921\u092c\u0948\u0915 \u092a\u0930 \u095b\u0930\u0942\u0930 \u0928\u095b\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947\u0964", "Thanks a lot Zerodha, for doing such an effort to teach us\u2026.", "Happy learning, Chandan \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2015/01/M4-Ch2-title1.jpg", "https://secure.gravatar.com/avatar/2552021f4658da3350970cddb19f2e44?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/759c7d0c6d8aa58dd523dc3e75b8943c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/759c7d0c6d8aa58dd523dc3e75b8943c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1805976a0d28310ca5782a085f0e5828?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5e2855254f40fffd5e696eed287d260c?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th><span style=\"font-weight: 400;\">\u092b\u0949\u0930\u0935\u0930\u094d\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f</span></th>\n<th><span style=\"font-weight: 400;\">\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 </span><span style=\"font-weight: 400;\">\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f</span></th>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f</span> <span style=\"font-weight: 400;\">\u0915\u093e \u0915\u0930\u094b\u092c\u093e\u0930 </span><span style=\"font-weight: 400;\">OTC / </span><span style=\"font-weight: 400;\">\u0913\u0935\u0930 \u0926 \u0915\u093e\u0909\u0902\u091f\u0930</span><span style=\"font-weight: 400;\"> (over the counter) </span><span style=\"font-weight: 400;\">\u0939\u094b\u0924\u093e \u0939\u0948</span></td>\n<td><span style=\"font-weight: 400;\">\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 </span><span style=\"font-weight: 400;\">\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f</span><span style=\"font-weight: 400;\"> \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092a\u0930 \u0916\u0930\u0940\u0926\u0947 \u092c\u0947\u091a\u0947 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f</span><span style=\"font-weight: 400;\"> \u091c\u0930\u0942\u0930\u0924 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092c\u0928\u093e\u090f \u091c\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902</span><span style=\"font-weight: 400;\">\u00a0</span></td>\n<td><span style=\"font-weight: 400;\">\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 </span><span style=\"font-weight: 400;\">\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f</span> <span style=\"font-weight: 400;\">\u0939\u092e\u0947\u0936\u093e \u090f\u0915 \u0938\u092e\u093e\u0928 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0938\u093e\u092e\u0928\u0947 \u0935\u093e\u0932\u0940 \u092a\u093e\u0930\u094d\u091f\u0940 \u0938\u0947 \u091c\u0941\u0921\u093c\u093e \u092c\u0921\u093c\u093e \u0930\u093f\u0938\u094d\u0915</span></td>\n<td><span style=\"font-weight: 400;\">\u0938\u093e\u092e\u0928\u0947 \u0935\u093e\u0932\u0940 \u092a\u093e\u0930\u094d\u091f\u0940 \u0938\u0947</span> <span style=\"font-weight: 400;\">\u0930\u093f\u0938\u094d\u0915 \u0928\u0939\u0940\u0902</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u092c\u093e\u091c\u093e\u0930 \u0928\u093f\u092f\u0902\u0924\u094d\u0930\u093f\u0924 \u0928\u0939\u0940\u0902</span></td>\n<td><span style=\"font-weight: 400;\"> SEBI </span><span style=\"font-weight: 400;\">\u0915\u0947 \u0928\u093f\u092f\u0902\u0924\u094d\u0930\u0923 \u092e\u0947\u0902</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f</span><span style=\"font-weight: 400;\"> \u0915\u093f\u0938\u0940 \u0914\u0930 \u0915\u094b \u0939\u0938\u094d\u0924\u093e\u0902\u0924\u0930\u093f\u0924 \u0928\u0939\u0940\u0902 \u0915\u093f\u090f \u091c\u093e \u0938\u0915\u0924\u0947</span><span style=\"font-weight: 400;\">\u00a0</span></td>\n<td><span style=\"font-weight: 400;\">\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f</span><span style=\"font-weight: 400;\"> \u0915\u093f\u0938\u0940 \u0915\u094b \u092d\u0940 \u0939\u0938\u094d\u0924\u093e\u0902\u0924\u0930\u093f\u0924\u00a0 \u0915\u093f\u090f \u091c\u093e \u0938\u0915\u0924\u0947</span> <span style=\"font-weight: 400;\">\u0939\u0948\u0902</span><span style=\"font-weight: 400;\">, </span><span style=\"font-weight: 400;\">\u092c\u0947\u091a\u0928\u093e \u0916\u0930\u0940\u0926\u0928\u093e \u0938\u0902\u092d\u0935</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u0924\u092f \u0938\u092e\u092f \u0905\u0935\u0927\u093f</span></td>\n<td><span style=\"font-weight: 400;\">\u0905\u0932\u0917 \u0905\u0932\u0917 \u0938\u092e\u092f \u0905\u0935\u0927\u093f \u0915\u0947 </span><span style=\"font-weight: 400;\">\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f</span><span style=\"font-weight: 400;\"> \u0938\u0902\u092d\u0935</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0915\u0948\u0936 \u0914\u0930 \u092d\u094c\u0924\u093f\u0915 \u0938\u0947\u091f\u0932\u092e\u0947\u0902\u091f \u0938\u0902\u092d\u0935</span></td>\n<td><span style=\"font-weight: 400;\">\u0938\u093f\u0930\u094d\u092b \u0915\u0948\u0936 \u0938\u0947\u091f\u0932\u092e\u0947\u0902\u091f</span></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "3. \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u091f\u094d\u0930\u0947\u0921 (The Futures Trade)", "text": ["\u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0939\u0941\u090f \u0915\u0941\u091b \u0938\u093f\u0926\u094d\u0927\u093e\u0928\u094d\u0924\u094b\u0902 \u0915\u094b \u0938\u092e\u091d\u093e \u0925\u093e\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092a\u0948\u0938\u093e \u0915\u092e\u093e\u0928\u0947 \u0915\u093e \u090f\u0915 \u0930\u093e\u0938\u094d\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u093f\u0938\u0940 \u090f\u0938\u0947\u091f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0940 \u0926\u093f\u0936\u093e \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0930\u093e\u092f \u0930\u0916\u0924\u093e \u0939\u0948 \u0924\u094b \u0935\u094b \u0907\u0938\u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u092a\u0948\u0938\u093e \u0915\u092e\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u0939\u092e \u0915\u0941\u091b \u0909\u0926\u093e\u0939\u0930\u0923\u094b\u0902 \u0915\u0947 \u0930\u093e\u0938\u094d\u0924\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0905\u092c \u0938\u094b\u0928\u0947 \u0915\u0940 \u091c\u0917\u0939 \u0936\u0947\u092f\u0930 \u092f\u093e \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u0915\u093e \u0909\u0926\u093e\u0939\u0930\u0923 \u0932\u0947\u0902\u0917\u0947\u0964", "\u0926\u0947\u0936 \u0915\u0940 \u091c\u093e\u0928\u0940-\u092e\u093e\u0928\u0940 \u0938\u0949\u092b\u094d\u091f\u0935\u0947\u092f\u0930 \u0915\u0902\u092a\u0928\u0940 TCS \u0928\u0947\u00a0 \u092f\u093e\u0928\u0940 15 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u090f\u0915 \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u0930 \u092e\u0940\u091f\u093f\u0902\u0917 \u0915\u0940 \u091c\u0939\u093e\u0902 \u092a\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0928\u0947 \u0915\u0939\u093e \u0915\u093f \u0926\u093f\u0938\u0902\u092c\u0930 \u0924\u093f\u092e\u093e\u0939\u0940 \u0915\u0947 \u0928\u0924\u0940\u091c\u0947 \u092e\u0947\u0902 \u0906\u092e\u0926\u0928\u0940 \u092c\u0922\u093c\u0928\u0947 \u0915\u094b \u0932\u0947 \u0915\u0930 \u0915\u0902\u092a\u0928\u0940 \u092c\u0939\u0941\u0924 \u0906\u0936\u094d\u0935\u0938\u094d\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u0910\u0938\u0940 \u0916\u092c\u0930\u094b\u0902 \u0915\u094b \u092a\u0938\u0902\u0926 \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u093e \u0939\u0948, \u0916\u093e\u0938\u0915\u0930 \u091c\u092c \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0910\u0938\u0940 \u092c\u093e\u0924 \u0915\u0939 \u0930\u0939\u093e \u0939\u094b\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0907\u0938 \u092c\u092f\u093e\u0928 \u0915\u0947 \u092c\u093e\u0926 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0918\u092c\u0930\u093e\u0939\u091f \u092b\u0948\u0932\u0940 \u0914\u0930 TCS \u0915\u093e \u0936\u0947\u092f\u0930 3.6% \u0917\u093f\u0930 \u0917\u092f\u093e\u0964 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0907\u0938\u0947 \u0939\u092e\u0928\u0947 \u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0939\u0948", "", "\u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f TCS \u0915\u093e \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0941\u091b \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0940 \u092a\u093f\u091f\u093e\u0908 \u0939\u094b \u0917\u0908 \u0939\u0948, \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0905\u0917\u0930 \u0906\u092a \u0927\u094d\u092f\u093e\u0928 \u0938\u0947 \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u0908\u091f\u0940 \u0938\u0947\u0915\u094d\u091f\u0930 \u0915\u0940 \u0915\u094b\u0908 \u092d\u0940 \u0915\u0902\u092a\u0928\u0940 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u094d\u0935\u093e\u0930\u094d\u091f\u0930 \u092e\u0947\u0902 \u0905\u091a\u094d\u091b\u093e \u0930\u093f\u091c\u0932\u094d\u091f \u0928\u0939\u0940\u0902 \u092a\u0947\u0936 \u0915\u0930\u0924\u0940 \u0928\u0939\u0940\u0902 \u0926\u093f\u0916\u0947\u0917\u0940\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u092d\u093e\u0930\u0924\u0940\u092f \u0906\u0908\u091f\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0947 \u092c\u093e\u091c\u093e\u0930 USA \u092e\u0947\u0902 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u093e \u092e\u0939\u0940\u0928\u093e \u0938\u093e\u0932 \u0915\u093e \u0905\u0902\u0924\u093f\u092e \u092e\u0939\u0940\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0938\u093e\u0925 \u0939\u0940, \u0907\u0938 \u092e\u0939\u0940\u0928\u0947 \u092e\u0947\u0902 \u0935\u0939\u093e\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0940 \u091b\u0941\u091f\u094d\u091f\u093f\u092f\u093e\u0902 \u092d\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0915\u093e\u092e\u0915\u093e\u091c \u0915\u092e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092f\u0939\u0940 \u0935\u091c\u0939 \u0939\u0948 \u0915\u093f \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u0947 \u092e\u0939\u0940\u0928\u0947 \u092e\u0947\u0902 \u0906\u0908\u091f\u0940 \u0938\u0947\u0915\u094d\u091f\u0930 \u0915\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u0906\u092e\u0926\u0928\u0940 \u0925\u094b\u0921\u093c\u0940 \u0915\u092e \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u094b \u092f\u0939 \u0938\u093e\u0930\u0940 \u092c\u093e\u0924\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0914\u0930 \u0906\u0908\u091f\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0907\u0938\u0915\u093e \u0905\u0938\u0930 \u092a\u0939\u0932\u0947 \u0938\u0947 \u0936\u093e\u092e\u093f\u0932 \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0939 3.6% \u0917\u093f\u0930\u093e\u0935\u091f TCS \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092e\u094c\u0915\u093e \u0939\u0948\u0964 \u0925\u094b\u0921\u093c\u0947 \u0939\u0940 \u0926\u093f\u0928\u094b\u0902 \u092e\u0947\u0902 \u092f\u0939 \u0936\u0947\u092f\u0930 \u092b\u093f\u0930 \u0938\u0947 \u0935\u093e\u092a\u0938 \u090a\u092a\u0930 \u091c\u093e\u090f\u0917\u093e\u0964", "\u0906\u092a\u0915\u094b \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u094b\u0917\u093e \u0915\u093f TCS \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092e\u0947\u0930\u0940 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0914\u0930 \u0926\u093f\u0936\u093e\u0924\u094d\u092e\u0915 \u0930\u093e\u092f \u0939\u0948 \u0914\u0930 \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f TCS \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092d\u0935\u093f\u0937\u094d\u092f \u092e\u0947\u0902 \u090a\u092a\u0930 \u091c\u093e\u090f\u0917\u0940 \u092f\u093e\u0928\u0940 \u0907\u0938\u0915\u0940 \u092e\u094c\u091c\u0942\u0926\u093e \u0915\u0940\u092e\u0924 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u094b \u0932\u0947\u0915\u0930 \u092e\u0948\u0902 \u092c\u0941\u0932\u093f\u0936 \u0939\u0942\u0902\u0964", "\u0905\u092c \u092e\u0948\u0902 TCS \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u094b \u0938\u094d\u092a\u0949\u091f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u092c\u091c\u093e\u092f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u093e \u0939\u0942\u0902\u0964 (\u092e\u0948\u0902 \u0910\u0938\u093e \u0915\u094d\u092f\u094b\u0902 \u0915\u0930 \u0930\u0939\u093e \u0939\u0942\u0902 \u0907\u0938 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0939\u092e \u0905\u0917\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0915\u0930\u0947\u0902\u0917\u0947) \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092e\u0941\u091d\u0947 \u092f\u0939 \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f TCS \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u093f\u0938 \u092d\u093e\u0935 \u092a\u0930 \u091a\u0932 \u0930\u0939\u093e \u0939\u0948\u0964 \u0907\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 NSE \u0915\u0940 \u0935\u0947\u092c\u0938\u093e\u0907\u091f \u092a\u0930 \u092e\u094c\u091c\u0942\u0926 \u0939\u0948\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902, TCS \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0940 \u0915\u0940\u092e\u0924 TCS \u0915\u0947 \u0938\u094d\u092a\u0949\u091f \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0938\u093e\u0925 \u0939\u0940 \u0926\u0940 \u0939\u0941\u0908 \u0939\u0948\u0964 \u090a\u092a\u0930 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u092e\u0948\u0902\u0928\u0947 \u0907\u0938\u0915\u094b \u0932\u093e\u0932 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0925\u093e\u0964", "\u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0939\u0940 \u0939\u094b\u0917\u093e \u0915\u093f \u0939\u0930 \u090f\u0938\u0947\u091f \u0915\u0940 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940\u092e\u0924 \u0939\u092e\u0947\u0936\u093e \u092e\u094c\u091c\u0942\u0926\u093e \u0915\u0940\u092e\u0924 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u091a\u0932\u0924\u0940 \u0939\u0948\u0964 \u0905\u0917\u0930 TCS \u0915\u0940 \u092e\u094c\u091c\u0942\u0926\u093e \u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u0917\u0908 \u0939\u0948 \u0924\u094b \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940\u092e\u0924 \u092d\u0940 \u0928\u0940\u091a\u0947 \u0917\u0908 \u0939\u094b\u0917\u0940\u0964 NSE \u0915\u0940 \u0935\u0947\u092c\u0938\u093e\u0907\u091f \u0938\u0947 \u0932\u093f\u090f \u0917\u090f \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u092d\u0940 \u092f\u0939 \u0938\u093e\u092b \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948\u0964", "", "TCS \u0915\u0940 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u092d\u0940 \u0928\u0940\u091a\u0947 3.77 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0928\u0940\u091a\u0947 \u0917\u0908 \u0939\u0948 \u0964 \u0905\u092c \u092f\u0939\u093e\u0902 2 \u0938\u0935\u093e\u0932 \u0909\u0920\u0924\u0947 \u0939\u0948\u0902\u2013", "\u0926\u094b\u0928\u094b\u0902 \u0938\u0935\u093e\u0932 \u0915\u093e \u091c\u0935\u093e\u092c \u0907\u0938 \u092c\u093e\u0924 \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u093e \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u093e \u0915\u094d\u092f\u093e \u0939\u0948? \u0907\u0938 \u092a\u0930 \u0939\u092e \u0906\u0917\u0947 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0932\u0947\u0915\u093f\u0928 \u092f\u0939\u093e\u0902 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092c\u093e\u0924 \u092f\u0939 \u0939\u0948 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u0914\u0930 \u0938\u094d\u092a\u0949\u091f \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u090f\u0915 \u0938\u093e\u0925 \u090f\u0915 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u091a\u0932\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0926\u094b\u0928\u094b\u0902 \u090f\u0915 \u0938\u093e\u0925 \u0928\u0940\u091a\u0947 \u0917\u093f\u0930\u0940 \u0939\u0948\u0902\u0964 \u0905\u092c \u0906\u0917\u0947 \u092c\u0922\u093c\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0915\u0941\u091b \u091c\u0930\u0942\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u094b\u0902 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u091a\u093f\u0924\u094d\u0930 \u0915\u094b \u0926\u0947\u0916\u093f\u090f\u2013", "", "\u0905\u0917\u0930 \u0906\u092a \u0907\u0938 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0924\u094b \u0932\u093e\u0932 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u090f \u0939\u0941\u090f \u092c\u0949\u0915\u094d\u0938 \u092e\u0947\u0902 \u0924\u0940\u0928 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0938\u0942\u091a\u0928\u093e\u090f\u0902 \u0939\u0948\u0902\u2013", "\u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u0915\u0947 \u092c\u0949\u0915\u094d\u0938 \u092a\u0930 \u0939\u092e \u092a\u0939\u0932\u0947 \u092d\u0940 \u0928\u091c\u0930 \u0921\u093e\u0932 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902 \u091c\u094b \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964", "\u0915\u093e\u0932\u0947 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u090f \u092c\u093e\u0915\u094d\u0938 \u0938\u0947 \u092d\u0940 \u0939\u092e\u0947\u0902 \u0915\u0941\u091b \u0938\u0942\u091a\u0928\u093e\u090f\u0902 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948\u0902\u2013", "\u0905\u0917\u0930 \u0932\u0949\u091f \u0938\u093e\u0907\u091c \u0907\u0938\u0915\u094b \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0917\u0941\u0928\u093e \u0915\u0930 \u0926\u0947 \u0924\u094b \u0939\u092e\u0947\u0902 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u092a\u0924\u093e \u091a\u0932 \u091c\u093e\u090f\u0917\u0940 \u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0939\u094b\u0917\u093e \u0915\u093f \u0939\u092e\u0928\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u092d\u0940 \u092c\u093e\u0924 \u0915\u0940 \u0925\u0940 \u0905\u092c \u0939\u092e TCS \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u093e \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0928\u093f\u0915\u093e\u0932\u0947\u0902\u0917\u0947\u0964", "\u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 = \u0932\u0949\u091f \u0938\u093e\u0907\u091c \u00d7 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924", "= 125 \u00d7 2374.90", "= 296,862.5 \u0930\u0941\u092a\u092f\u0947", "\u0906\u0917\u0947 \u092c\u0922\u093c\u0928\u0947\u00a0 \u0938\u0947 \u092a\u0939\u0932\u0947 \u090f\u0915 \u092c\u093e\u0930 \u0939\u092e \u090f\u0915 \u0914\u0930 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u092f\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0939\u0948 \u0938\u094d\u091f\u0947\u091f \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e \u092f\u093e\u0928\u0940 SBI \u0915\u093e\u0964", "", "\u0907\u0938 \u0938\u094d\u0915\u094d\u0930\u0940\u0928 \u0936\u0949\u091f \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0906\u092a \u0936\u093e\u092f\u0926 \u0915\u0941\u091b \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u0947 \u091c\u0935\u093e\u092c \u0916\u0941\u0926 \u0922\u0942\u0902\u0922 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u090f\u0915 \u092c\u093e\u0930 \u092b\u093f\u0930 \u0938\u0947 TCS \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u091f\u094d\u0930\u0947\u0921 \u092a\u0930 \u0932\u094c\u091f\u0924\u0947 \u0939\u0948\u0902\u0964 \u0939\u092e\u0947\u0902 TCS \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u0917\u0947 \u091c\u093e\u0924\u0947 \u0939\u0941\u090f \u0907\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c\u0947\u0917\u0940\u0964 \u092e\u0948\u0902 TCS \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u094b 2374.9 \u0930\u0941\u092a\u092f\u0947 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902\u0964 \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u092e\u0941\u091d\u0947 \u0915\u092e \u0938\u0947 \u0915\u092e 125 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u092a\u0921\u093c\u0947\u0902\u0917\u0947 \u091c\u094b \u0915\u093f TCS \u0915\u093e \u090f\u0915 \u0932\u0949\u091f \u0939\u0948\u0964", "\u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u092e\u0948\u0902 \u0905\u092a\u0928\u0947 \u0938\u094d\u091f\u0949\u0915\u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u094b \u092b\u094b\u0928 \u0915\u0930\u0915\u0947 \u092c\u0924\u093e \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u092e\u0941\u091d\u0947 TCS \u0915\u093e \u090f\u0915 \u0932\u0949\u091f 2374.9 \u0930\u0941\u092a\u092f\u0947 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u0948 \u092f\u093e \u092e\u0948\u0902 \u0916\u0941\u0926 \u0905\u092a\u0928\u0947 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092a\u0930 \u092f\u0939 \u0915\u093e\u092e \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0942\u0902\u0964", "\u0935\u0948\u0938\u0947 \u092e\u0948\u0902 \u092f\u0939 \u0915\u093e\u092e \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092a\u0930 \u0915\u0930\u0928\u093e \u092a\u0938\u0902\u0926 \u0915\u0930\u0942\u0902\u0917\u093e\u0964 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u092e\u0941\u091d\u0947 \u0905\u092a\u0928\u0947 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u0949\u091a \u092e\u0947\u0902 TCS \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930 \u0932\u094b\u0921 \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e \u0914\u0930 F1 \u092c\u091f\u0928 \u0926\u092c\u093e\u0928\u093e \u0939\u094b\u0917\u093e \u091c\u093f\u0938\u0938\u0947 \u092e\u0948\u0902 \u092f\u0939 \u0915\u093e\u0902\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0916\u0930\u0940\u0926 \u0938\u0915\u0942\u0902\u0964 \u0905\u0917\u0930 \u0906\u092a \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0928\u0939\u0940\u0902 \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u0939\u092e\u093e\u0930\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u0915\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u094b \u090f\u0915 \u092c\u093e\u0930 \u092a\u0922\u093c \u0932\u0947\u0902\u0964", "", "\u091c\u0948\u0938\u0947 \u0939\u0940 \u092e\u0948\u0902 TCS \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 F1 \u092c\u091f\u0928 \u0915\u094b \u0926\u092c\u093e\u0909\u0902\u0917\u093e \u0924\u094b \u092c\u0948\u0915\u0917\u094d\u0930\u093e\u0909\u0902\u0921 \u092e\u0947\u0902 \u0915\u0941\u091b \u091a\u0940\u091c\u0947\u0902 \u0939\u094b\u0902\u0917\u0940\u0964", "\u0907\u0928 \u091a\u093e\u0930\u094b\u0902 \u0915\u0926\u092e\u094b\u0902 \u0915\u0947 \u092a\u0942\u0930\u093e \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0905\u092c \u092e\u0947\u0930\u0947 \u092a\u093e\u0938 TCS \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u093e \u090f\u0915 \u0932\u0949\u091f \u0939\u094b\u0917\u093e\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092f\u0939 \u092a\u0942\u0930\u093e \u0915\u093e\u092e \u0915\u0941\u091b \u0938\u0947\u0915\u0947\u0902\u0921 \u092e\u0947\u0902 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "TCS \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u093e \u090f\u0915 \u0932\u0949\u091f \u092e\u0947\u0930\u0947 \u092a\u093e\u0938 \u0939\u094b\u0928\u0947 \u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0948 \u0915\u093f \u0905\u092c 15 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u090f\u0915 \u0915\u093e\u0909\u0902\u091f\u0930 \u092a\u093e\u0930\u094d\u091f\u0940 \u0938\u0947 TCS \u092b\u094d\u092f\u0942\u091a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0938\u093e\u0925 \u0939\u0940 \u092e\u0948\u0902\u0928\u0947 \u0909\u0938 \u092a\u093e\u0930\u094d\u091f\u0940 \u0915\u0947 \u0938\u093e\u0925 TCS\u00a0 \u0915\u0947 125 \u0936\u0947\u092f\u0930 \u092b\u094d\u092f\u0942\u091a\u0930 \u092e\u0947\u0902 \u20b92374.9 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u0930 \u0932\u093f\u092f\u093e \u0939\u0948 \u0914\u0930 \u092e\u0941\u091d\u0947 \u092f\u0939 \u0938\u092e\u091d\u094c\u0924\u093e 24 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u092f\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 24 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u0924\u0940\u0928 \u0938\u094d\u0925\u093f\u0924\u093f\u092f\u093e\u0902 \u092c\u0928 \u0938\u0915\u0924\u0940 \u0939\u0948\u0902\u0964 TCS \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948, TCS \u0915\u0940 \u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u0906 \u0938\u0915\u0924\u0940 \u0939\u0948 \u0914\u0930 TCS \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0915\u094b\u0908 \u092c\u0926\u0932\u093e\u0935 \u0928\u0939\u0940\u0902 \u0906 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0939\u092e \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0907\u0928 \u0924\u0940\u0928\u094b\u0902 \u0938\u094d\u0925\u093f\u0924\u093f\u092f\u094b\u0902 \u0915\u093e \u0915\u094d\u092f\u093e \u0905\u0938\u0930 \u0939\u094b\u0924\u093e \u0939\u0948:", "\u0938\u094d\u0925\u093f\u0924\u093f 1 \u2013 TCS \u0915\u0940 \u0915\u0940\u092e\u0924 24 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u094b \u090a\u092a\u0930 \u091c\u093e\u0924\u0940 \u0939\u0948", "\u092f\u0939 \u0935\u0939 \u0938\u094d\u0925\u093f\u0924\u093f \u0939\u0948 \u091c\u0939\u093e\u0902 \u092e\u0947\u0930\u0940 \u0930\u093e\u092f \u0938\u0939\u0940 \u0938\u093e\u092c\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f 24 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b TCS \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b92374.9 \u0938\u0947 \u092c\u0922\u093c\u0915\u0930 \u20b92450 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u0935\u091c\u0939 \u0938\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0940\u092e\u0924 \u092d\u0940 \u092c\u0922\u093c\u0947\u0917\u0940\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u0915\u0947 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u0905\u092d\u0940 \u092d\u0940 \u092e\u0948\u0902 TCS \u0915\u0947 \u0936\u0947\u092f\u0930 \u20b92374.9 \u092a\u0930 \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u091c\u094b \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0915\u093e\u092b\u0940 \u0915\u092e \u0939\u0948\u0964 \u092e\u0941\u091d\u0947 \u0939\u0930 \u0936\u0947\u092f\u0930 \u092a\u0930 \u20b975.1 \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u094b \u0930\u0939\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092e\u0947\u0930\u093e \u0906\u091c \u0938\u094c\u0926\u093e 125 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u092e\u0947\u0930\u093e \u0915\u0941\u0932 \u092e\u0941\u0928\u093e\u092b\u093e 9387.5 \u0930\u0941\u092a\u092f\u0947 (2450-2374.9= 75.1) \u0939\u094b\u0917\u093e\u0964", "\u0909\u0927\u0930 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u094b \u0915\u093e\u092b\u0940 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0917\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0938\u0947 \u20b92374.9 \u0915\u0947 \u092d\u093e\u0935 \u092a\u0930 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e \u091c\u092c\u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u20b92450 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u0939\u0948\u0964", "\u0938\u094d\u0925\u093f\u0924\u093f 2\u2013 TCS \u0915\u0940 \u0915\u0940\u092e\u0924 24 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u094b \u0928\u0940\u091a\u0947 \u091a\u0932\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948", "\u0907\u0938 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u092e\u0947\u0930\u0940 \u0930\u093e\u092f \u0917\u0932\u0924 \u0938\u093e\u092c\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948, \u0907\u0938\u0932\u093f\u090f \u092e\u0941\u091d\u0947 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0917\u093e\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f 24 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b TCS \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b92374.9 \u0915\u0947 \u092c\u091c\u093e\u090f \u20b92300 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0905\u092c \u092e\u0941\u091d\u0947 TCS \u0915\u0947 \u0936\u0947\u092f\u0930 \u20b92374.9 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0939\u094b\u0902\u0917\u0947 \u091c\u094b \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092f\u093e\u0928\u0940 \u20b92300 \u0938\u0947 \u20b975 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964 \u091a\u0942\u0902\u0915\u093f \u0938\u094c\u0926\u093e 125 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u092e\u0941\u091d\u0947 \u0907\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u20b99375 (75\u00d7125) \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0917\u093e\u0964", "\u091c\u092c\u0915\u093f \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u094b \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0917\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u0939 \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u090f\u0915 \u0936\u0947\u092f\u0930 \u0915\u094b \u20b92300 \u0915\u093e \u0916\u0930\u0940\u0926 \u092a\u0930 \u092e\u0941\u091d\u0947 \u20b92374.9 \u092a\u0930 \u092c\u0947\u091a \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0938\u094d\u0925\u093f\u0924\u093f 3\u2013 24 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u094b TCS \u0915\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0915\u094b\u0908 \u092c\u0926\u0932\u093e\u0935 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e", "\u0907\u0938 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0947 \u0914\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0947 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u0915\u094b\u0908 \u092b\u093e\u092f\u0926\u093e \u092f\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964", "\u0905\u092c \u091c\u0930\u093e \u0907\u0938 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u094b \u0926\u0947\u0916\u093f\u090f, 15 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b TCS \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930 2374 \u0930\u0941\u092a\u092f\u0947 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0905\u0917\u0932\u0947 \u0939\u0940 \u0926\u093f\u0928 \u092f\u093e\u0928\u094016 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b TCS \u0915\u0940 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0905\u092c \u092f\u0939 \u20b92460 \u092a\u0930 \u092c\u093f\u0915 \u0930\u0939\u093e \u0939\u0948\u0964 \u0905\u092c \u092e\u0941\u091d\u0947 \u0915\u094d\u092f\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f? \u0915\u0940\u092e\u0924 \u092c\u0922\u093c\u0928\u0947 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u092e\u0941\u091d\u0947 \u0915\u093e\u092b\u0940 \u092b\u093e\u092f\u0926\u093e \u0939\u094b \u0930\u0939\u093e \u0939\u0948, \u0939\u0930 \u0936\u0947\u092f\u0930 \u092a\u0930 \u20b985.1 \u092f\u093e\u0928\u0940 \u0915\u0941\u0932 \u20b910637.5 (85.1\u00d7125)\u0964", "", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u092e\u0948\u0902 \u0907\u0938 \u0915\u092e\u093e\u0908 \u0938\u0947 \u0916\u0941\u0936 \u0939\u0942\u0902 \u0924\u094b \u0915\u094d\u092f\u093e \u092e\u0948\u0902 \u0905\u092a\u0928\u0947 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u0938\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932 \u0938\u0915\u0924\u093e \u0939\u0942\u0902? \u0915\u094d\u092f\u093e \u20b92460 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092d\u0940 \u092e\u0947\u0930\u0940 \u0930\u093e\u092f \u092f\u0939\u0940 \u0930\u0939\u0947\u0917\u0940 \u0915\u093f \u0936\u0947\u092f\u0930 \u0906\u0917\u0947 \u0914\u0930 \u092c\u0922\u093c\u0947\u0917\u093e, \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0905\u092c \u092e\u0947\u0930\u0940 \u0930\u093e\u092f \u092c\u0926\u0932 \u091c\u093e\u090f \u0914\u0930 \u092e\u0941\u091d\u0947 \u0932\u0917\u0947 \u0915\u093f \u0905\u092c \u0907\u0938\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0922\u093c\u094b\u0924\u0930\u0940 \u0915\u0940 \u0917\u0941\u0902\u091c\u093e\u0907\u0936 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0910\u0938\u0947 \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u092e\u0941\u091d\u0947 \u0907\u0938 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u092c\u0928\u0947 \u0930\u0939\u0928\u093e \u091a\u093e\u0939\u093f\u090f ?", "\u091c\u0948\u0938\u093e \u0915\u093f \u092e\u0948\u0902\u0928\u0947 \u092a\u0939\u0932\u0947 \u092d\u0940 \u0915\u0939\u093e \u0939\u0948 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u091f\u094d\u0930\u0947\u0921\u0947\u092c\u0932 \u0939\u094b\u0924\u093e \u0939\u0948 \u092f\u093e\u0928\u0940 \u0907\u0938 \u0915\u094b \u092c\u0947\u091a\u093e \u0914\u0930 \u0916\u0930\u0940\u0926\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0906\u092a \u0907\u0938 \u092a\u0942\u0930\u0947 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u0915\u094b \u0939\u0940 \u0915\u093f\u0938\u0940 \u0914\u0930 \u0915\u094b \u092c\u0947\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u092f\u093e\u0928\u0940 \u092e\u0948\u0902 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u0915\u094b \u092c\u0947\u091a\u0915\u0930 \u20b910637.5 \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0909\u0920\u093e \u0938\u0915\u0924\u093e \u0939\u0942\u0902\u0964", "\u0910\u0938\u0947 \u0915\u093f\u0938\u0940 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u0915\u094b \u092c\u0947\u091a\u0928\u0947 \u0915\u094b \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930\u0928\u093e \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0947 \u0913\u092a\u0928 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0915\u094d\u0932\u094b\u091c \u092f\u093e\u0928\u0940 \u092c\u0902\u0926 \u0915\u0930\u0928\u093e \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 TCS \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0905\u092c \u092e\u0941\u091d\u0947 \u0905\u092a\u0928\u093e \u0936\u0947\u092f\u0930 \u0915\u093e \u090f\u0915 \u0932\u0949\u091f \u092c\u0947\u091a\u0928\u093e \u0939\u094b\u0917\u093e, \u091c\u093f\u0938\u0938\u0947 \u092e\u0947\u0930\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0939\u094b \u0938\u0915\u0947\u0964 \u0907\u0938\u0947 \u0914\u0930 \u092c\u0947\u0939\u0924\u0930 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f\u0964", "\u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0947 \u0938\u092e\u092f \u0930\u093e\u092f", "01", "\u0916\u0930\u0940\u0926 / \u0932\u093e\u0902\u0917", "\u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u2013 \u092c\u0941\u0932\u093f\u0936", "\u092c\u093f\u0915\u094d\u0930\u0940", "\u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0928\u0939\u0940\u0902, \u0938\u094c\u0926\u0947 \u0938\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e", "\u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092e\u0948\u0902 \u092b\u093f\u0930 \u0938\u0947 \u0905\u092a\u0928\u0947 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u094b \u092b\u094b\u0928 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u092f\u093e \u092b\u093f\u0930 \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092a\u0930 \u0916\u0941\u0926 \u0939\u0940 \u092f\u0947 \u0915\u093e\u092e \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0942\u0902\u0964 \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0906\u092b \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u091c\u0948\u0938\u0947 \u0939\u0940 \u092e\u0948\u0902 TCS \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0947 \u090f\u0915 \u0932\u0949\u091f \u0915\u094b \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0942\u0902\u0917\u093e \u0924\u094b \u092f\u0939 \u091a\u0940\u091c\u0947\u0902 \u0939\u094b\u0902\u0917\u0940\u2013", "\u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u093e \u090f\u0915 \u091f\u094d\u0930\u0947\u0921 \u092a\u0942\u0930\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u0905\u0917\u0930 \u20b92460 \u092a\u0930 \u092d\u0940 \u092e\u0941\u091d\u0947 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f TCS \u0915\u0940 \u0915\u0940\u092e\u0924 \u0906\u0917\u0947 \u091a\u0932\u0924\u0947 \u0939\u0941\u090f \u0914\u0930 \u092c\u0922\u093c\u0947\u0917\u0940 \u0924\u094b \u092e\u0948\u0902 \u0909\u0938 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u092c\u0928\u093e \u0930\u0939 \u0938\u0915\u0924\u093e \u0939\u0942\u0902\u0964 \u092e\u0947\u0930\u0947 \u092a\u093e\u0938 24 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0924\u0915 \u0909\u0938 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u0915\u094b \u0939\u094b\u0932\u094d\u0921 \u0915\u0930\u0928\u0947 \u0915\u093e \u0935\u093f\u0915\u0932\u094d\u092a \u0939\u0948\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 24 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u0940 \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940 \u0915\u0947 \u0920\u0940\u0915 \u090f\u0915 \u0926\u093f\u0928 \u092a\u0939\u0932\u0947 23 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u094b TCS \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b92519 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u0917\u0908 \u0925\u0940 \u092f\u093e\u0928\u0940 \u092e\u0948\u0902 \u0905\u0917\u0930 \u0909\u0938\u0915\u0940 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u092c\u0928\u093e \u0930\u0939\u0924\u093e \u0924\u094b \u092e\u0947\u0930\u093e \u092b\u093e\u092f\u0926\u093e \u0914\u0930 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0924\u093e\u0964 \u0906\u092a \u0907\u0938\u0947 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0938\u094d\u0915\u094d\u0930\u0940\u0928\u0936\u0949\u091f \u092e\u0947\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902:", "", "\u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u091c\u092c 16 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u091c\u092c \u092e\u0948\u0902\u0928\u0947 \u20b92460 \u092a\u0930 TCS \u0915\u0947 \u0936\u0947\u092f\u0930 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u093e \u090f\u0915 \u0932\u0949\u091f \u092c\u0947\u091a\u093e \u0914\u0930 \u0924\u094b \u091c\u093f\u0938 \u0915\u093f\u0938\u0940 \u0928\u0947 \u092d\u0940 \u092e\u0941\u091d\u0938\u0947 \u0935\u0939 \u0932\u0949\u091f \u0916\u0930\u0940\u0926\u093e \u0914\u0930 \u090f\u0915 \u0930\u093f\u0938\u094d\u0915 \u0932\u093f\u092f\u093e \u0909\u0938\u0947 23 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u0915\u093e\u092b\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u0941\u0906\u0964 \u0905\u092c \u092f\u0939\u093e\u0902 \u0926\u094b \u0938\u0935\u093e\u0932 \u0909\u0920\u0924\u0947 \u0939\u0948\u0902\u2013", "\u0905\u0917\u0930 \u0906\u092a\u0915\u094b \u092f\u0939 \u0907\u0928 \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u093e \u091c\u0935\u093e\u092c \u0928\u0939\u0940\u0902 \u0938\u092e\u091d \u092e\u0947\u0902 \u0906 \u0930\u0939\u093e \u0939\u0948 \u0924\u094b \u0906\u092a \u0928\u0940\u091a\u0947 \u0915\u0947 \u0915\u092e\u0947\u0902\u091f \u092c\u0949\u0915\u094d\u0938 \u092e\u0947\u0902 \u0932\u093f\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0905\u0917\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u0907\u0928\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0938\u092e\u091d \u092e\u0947 \u0906 \u0917\u092f\u093e \u0938\u0930 \u0906\u0917\u0947 \u0915\u0947 \u0938\u092d\u0940 \u0905\u0927\u092f\u093e\u092f \u092d\u0940 \u0939\u093f\u0902\u0926\u0940 \u092e\u0947\u0902 \u0915\u0930\u0928\u0947 \u0915\u093e \u091c\u0932\u094d\u0926\u0940 \u092a\u094d\u0930\u092f\u093e\u0938 \u0915\u0940\u091c\u093f\u092f\u0947 \u0938\u0930", "\u0905\u0928\u094d\u092f \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092d\u0940 \u091c\u0932\u094d\u0926 \u0939\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u094b\u0902\u0917\u0947 \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964", "Sir margin kitna lagta h ?", "\u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0906\u092a\u0915\u0947 \u0926\u094d\u0935\u093e\u0930\u093e \u0932\u0940 \u0917\u0908 \u092a\u094b\u091c\u0940\u0936\u0928 \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0915\u0943\u092a\u092f\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u0927\u093f\u0915 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u0932\u093f\u0902\u0915 \u0915\u094b \u0926\u0947\u0916\u0947\u0902:\nhttps://support.zerodha.com/category/trading-and-markets/margin-leverage-and-product-and-order-types/articles/where-can-i-find-and-calculate-the-margins-required-to-make-a-trade", "Futures.me ternd krne ke liye account me kitna pesa hona chaye\u2026.yesbank ka lot 2800 he price 27 bta ri to me 1 lot kyu ni kharid para 27 me aayega ya or pesi chaye plz smjaye kite pese hone chaye\u2026.smj ni aara 27 he to bhi ni kharidne aara 27 rupe to he\n.", "\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u095b\u094d\u092f\u093e\u0926\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u095b\u0930\u0942\u0930\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0906\u092a \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u094b \u0939\u094d\u092f\u093e\u0902 \u0938\u0947 \u092a\u095d\u0947\u0902 \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u0906\u091c\u093e\u090f\u0917\u0964", "\u0905\u0917\u0930 \u092e\u0948\u0902\u0928\u0947 TCS \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u093e \u0936\u0947\u092f\u0930 15 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0938\u0947 (\u20b92374.9 \u092a\u0930) \u0938\u0947 23 \u0926\u093f\u0938\u0902\u092c\u0930 2015 \u0915\u094b (\u20b92519.25) \u0924\u0915 \u0930\u0916\u093e \u0939\u094b\u0924\u093e \u0924\u094b \u092e\u0947\u0930\u093e \u0915\u0941\u0932 \u0928\u092b\u093e \u0928\u0941\u0915\u0938\u093e\u0928 (P&L) \u0915\u093f\u0924\u0928\u093e \u0939\u094b\u0924\u093e? .\nSoln:- (2519.25 \u2013 2374.9)=144.35 ;\nso, 144.35 x 125 = +\u20b918043.75 Ans.", "\u091c\u093f\u0938\u0928\u0947 16 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u092e\u0941\u091d\u0938\u0947 \u20b92460 \u092a\u0930 TCS \u0915\u093e \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u093e \u0914\u0930 23 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0924\u0915 \u0909\u0938\u0915\u094b \u0930\u0916\u093e \u0909\u0938\u0915\u093e \u0928\u092b\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u092f\u093e \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u090f\u0902\u0921 \u0932\u0949\u0938 \u0915\u093f\u0924\u0928\u093e \u0939\u094b\u0917\u093e?\nSoln:- (2519.25 \u2013 2460)=59.25 ;\nso, 59.25 x 125 = +\u20b97406.25 Ans.", "Please check my solution , it\u2019s right or not ?", "\u0906\u092a\u0915\u093e \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u0936\u0928 \u092f\u0939\u0940 \u0939\u0948\u0903\u0964", "Osm sir, learned a lot of things from you thank you.", "Happy learning \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2015/01/Image1_TCS.png", "https://zerodha.com/varsity/wp-content/uploads/2015/01/Image2_TCS.png", "https://zerodha.com/varsity/wp-content/uploads/2015/01/Image3_TCS.png", "https://zerodha.com/varsity/wp-content/uploads/2015/01/Image4_SBI.png", "https://zerodha.com/varsity/wp-content/uploads/2015/01/M4-Ch3-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/01/Image5_TCS.png", "https://zerodha.com/varsity/wp-content/uploads/2015/01/Image6_TCS.png", "https://secure.gravatar.com/avatar/86f8048a2fd1dbe8ef3ad403ecfc0834?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2598e56174de661b27edf18ee33496a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/7c03a87a0abeb252e78cde06de456c41?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d932528ddcb3ce5c293ec0ffdd2feb6f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e7f5c80c314208c96c0dc9cbc6fa8544?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><b>\u0915\u094d\u0930\u092e \u0938\u0902</b></td>\n<td style=\"text-align: center;\"><b>\u092a\u094d\u0930\u093e\u0930\u0902\u092d\u093f\u0915 \u0938\u094d\u0925\u093f\u0924\u093f</b></td>\n<td style=\"text-align: center;\"><b>\u092a\u094d\u0930\u093e\u0930\u0902\u092d\u093f\u0915 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u0947 \u0938\u092e\u092f \u0930\u093e\u092f</b></td>\n<td style=\"text-align: center;\"><b>\u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0947 \u0938\u092e\u092f \u0938\u094d\u0925\u093f\u0924\u093f</b></td>\n<td>\n<p style=\"text-align: center;\"><b>\u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0947 \u0938\u092e\u092f \u0930\u093e\u092f</b></p>\n</td>\n</tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">01</span></p>\n</td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0916\u0930\u0940\u0926</span><span style=\"font-weight: 400;\"> / </span><span style=\"font-weight: 400;\">\u0932\u093e\u0902\u0917</span></p>\n</td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926</span><span style=\"font-weight: 400;\"> \u2013 </span><span style=\"font-weight: 400;\">\u092c\u0941\u0932\u093f\u0936</span></p>\n</td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u092c\u093f\u0915\u094d\u0930\u0940</span></p>\n</td>\n<td><span style=\"font-weight: 400;\">\u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0928\u0939\u0940\u0902</span><span style=\"font-weight: 400;\">,</span><span style=\"font-weight: 400;\"> \u0938\u094c\u0926\u0947 \u0938\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e</span><span style=\"font-weight: 400;\">\u00a0</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">02</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u092c\u093f\u0915\u094d\u0930\u0940 </span><span style=\"font-weight: 400;\">/</span> <span style=\"font-weight: 400;\">\u0936\u0949\u0930\u094d\u091f</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926</span><span style=\"font-weight: 400;\">\u2013 </span><span style=\"font-weight: 400;\">\u092c\u0947\u092f\u0930\u093f\u0936</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0916\u0930\u0940\u0926</span></td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0928\u0939\u0940\u0902</span><span style=\"font-weight: 400;\">, </span><span style=\"font-weight: 400;\">\u0938\u094c\u0926\u0947 \u0938\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e</span></p>\n</td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "5. \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0914\u0930 M2M (\u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u2013 Mark to Market)", "text": ["\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092d\u0942\u092e\u093f\u0915\u093e \u0905\u0926\u093e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0939\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u094b \u0938\u094d\u092a\u0949\u091f \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u0947 \u0905\u0932\u0917 \u092c\u0928\u093e\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939 \u0909\u0938\u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u093e \u090f\u0915 \u0928\u092f\u093e \u0930\u093e\u0938\u094d\u0924\u093e \u091c\u094b\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u092c\u0939\u0941\u0924 \u0917\u0939\u0930\u093e\u0908 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0939\u0948\u0964", "\u0932\u0947\u0915\u093f\u0928 \u0906\u0917\u0947 \u092c\u0922\u093c\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u090f\u0915 \u092c\u093e\u0930 \u0909\u0928 \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u0926\u094b\u0939\u0930\u093e \u0932\u0947\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0928\u0915\u094b \u0939\u092e\u0928\u0947 \u0905\u092c \u0924\u0915 \u092a\u093f\u091b\u0932\u0947 \u091a\u093e\u0930 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0938\u0940\u0916\u093e \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0906\u092a \u0907\u0928 \u0938\u093e\u0930\u0940 \u091a\u0940\u091c\u094b\u0902 \u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d \u091a\u0941\u0915\u0947 \u0939\u0948\u0902\u0964 \u0924\u094b \u0939\u092e \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0902\u0928 \u0914\u0930 \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093e\u0924 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u0914\u0930 \u0917\u0939\u0930\u093e\u0908 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u092c\u093e\u0930 \u092b\u093f\u0930 \u0938\u0947 ABC \u091c\u094d\u0935\u0947\u0932\u0930\u094d\u0938 \u0935\u093e\u0932\u0947 \u0905\u092a\u0928\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092a\u0930 \u0932\u094c\u091f\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0938\u0915\u0940 \u0939\u092e\u0928\u0947 \u0905\u0927\u094d\u092f\u093e\u092f 1 \u092e\u0947\u0902 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0925\u0940\u0964 ABC \u091c\u094d\u0935\u0947\u0932\u0930\u094d\u0938 \u0928\u0947 3 \u092e\u0939\u0940\u0928\u0947 \u092c\u093e\u0926 15 \u0915\u093f\u0932\u094b \u0938\u094b\u0928\u093e 2450 \u0930\u0941\u092a\u090f \u092a\u094d\u0930\u0924\u093f \u0917\u094d\u0930\u093e\u092e \u092a\u0930 XYZ \u0917\u094b\u0932\u094d\u0921 \u0921\u0940\u0932\u0930\u094d\u0938 \u0938\u0947 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0938\u092e\u091d\u094c\u0924\u093e \u0915\u093f\u092f\u093e \u0925\u093e\u0964 \u0905\u092c \u0939\u092e \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u0917\u0930 \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0915\u094b\u0908 \u0909\u0924\u093e\u0930-\u091a\u0922\u093c\u093e\u0935 \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b ABC \u0914\u0930 XYZ \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0915\u094b \u092b\u093e\u092f\u0926\u093e \u0914\u0930 \u0926\u0942\u0938\u0930\u0947 \u0915\u094b \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0917\u093e\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0938\u094b\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u092c\u0939\u0941\u0924 \u091c\u094d\u092f\u093e\u0926\u093e \u090a\u092a\u0930 \u091a\u0932\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 XYZ \u0915\u0947 \u0932\u093f\u090f \u0915\u093e\u092b\u0940 \u092c\u0921\u093c\u0940 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0916\u0921\u093c\u0940 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u0924\u094b XYZ \u092f\u0939 \u0915\u0939 \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u0939 \u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u094b \u092a\u0942\u0930\u093e \u0928\u0939\u0940\u0902 \u0915\u0930 \u0938\u0915\u0924\u093e \u0914\u0930 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u0930 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0905\u0926\u093e\u0932\u0924\u0940 \u0932\u0921\u093c\u093e\u0908 \u0915\u093e \u0932\u0902\u092c\u093e \u0926\u094c\u0930 \u091a\u0932\u0947\u0917\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u0939\u092e\u093e\u0930\u0947 \u0932\u093f\u090f \u0915\u093e\u092e \u0915\u0940 \u092c\u093e\u0924 \u092f\u0939\u093e\u0902 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u0930\u0928\u093e \u0915\u093e\u092b\u0940 \u0906\u0938\u093e\u0928 \u0930\u093e\u0938\u094d\u0924\u093e \u0939\u0948\u0964 \u091a\u0942\u0902\u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092d\u0940 \u0914\u0930 \u092b\u0949\u0930\u0935\u0930\u094d\u0921\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0939\u0940 \u092c\u0928\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u0940 \u0907\u0938 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0915\u094b \u0938\u092e\u091d\u0924\u0947 \u0939\u0941\u090f \u092f\u0939\u093e\u0902 \u092a\u0930 \u0915\u0941\u091b \u091c\u0930\u0942\u0930\u0940 \u092c\u0926\u0932\u093e\u0935 \u0915\u093f\u090f \u0917\u090f \u0939\u0948\u0902 \u0914\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u090f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092d\u0942\u092e\u093f\u0915\u093e \u0926\u0940 \u0917\u0908 \u0939\u0948\u0964", "\u092b\u0949\u0930\u0935\u0930\u094d\u0921\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u0915\u094b\u0908 \u0930\u0947\u0917\u0941\u0932\u0947\u091f\u0930 \u092f\u093e\u0928\u0940 \u0928\u093f\u092f\u092e \u0928\u093f\u092f\u0902\u0924\u094d\u0930\u093f\u0924 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964 \u090f\u0917\u094d\u0930\u0940\u092e\u0947\u0902\u091f \u0926\u094b \u0932\u094b\u0917\u094b\u0902 \u092f\u093e \u0926\u094b \u092a\u093e\u0930\u094d\u091f\u093f\u092f\u094b\u0902 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0915\u093f\u0938\u0940 \u0924\u0940\u0938\u0930\u0947 \u0915\u094b \u0907\u0938\u0915\u0940 \u0915\u094b\u0908 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940\u0964 \u091c\u092c\u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u0938\u092d\u0940 \u0938\u094c\u0926\u0947 \u090f\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092e\u0947\u0902 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0909\u0928\u0915\u0947 \u0938\u0947\u091f\u0947\u0932\u092e\u0947\u0902\u091f \u0915\u0940 \u0917\u093e\u0930\u0902\u091f\u0940 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u092e\u0924\u0932\u092c \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092f\u0939 \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u094c\u0926\u093e \u092a\u0942\u0930\u093e \u0939\u094b\u0928\u0947 \u092a\u0930 \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u093e \u092a\u0948\u0938\u093e \u092e\u093f\u0932 \u0938\u0915\u0947\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0938\u092d\u0940 \u092a\u093e\u0930\u094d\u091f\u093f\u092f\u094b\u0902 \u0938\u0947 \u092a\u0948\u0938\u093e \u092d\u0940 \u092a\u0939\u0932\u0947 \u0932\u0947 \u0932\u0947\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092f\u0947 \u0915\u093e\u092e \u0915\u0948\u0938\u0947 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0935\u0939 \u0915\u0948\u0938\u0947 \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092f\u0939 \u0938\u092c \u092c\u093f\u0928\u093e \u0930\u0941\u0915\u093e\u0935\u091f \u0938\u0947 \u0939\u094b\u0924\u093e \u0930\u0939\u0947? \u092f\u0947 \u0939\u094b\u0924\u093e \u0939\u0948-", "\u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0914\u0930 \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0947 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d\u0928\u093e \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0924\u092d\u0940 \u0906\u092a \u0907\u0938 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0915\u093e\u092e-\u0915\u093e\u091c \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d \u092a\u093e\u090f\u0902\u0917\u0947\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u090f\u0915 \u0938\u093e\u0925 \u0938\u092e\u091d\u093e\u0928\u093e \u0925\u094b\u0921\u093c\u093e \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0915\u093e\u092e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u092a\u0939\u0932\u0947 \u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092f\u093e\u0928\u0940 M2M \u0915\u094b \u0938\u092e\u091d\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902\u0964 \u0907\u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0915\u0941\u091b \u092c\u093e\u0924\u094b\u0902 \u0915\u094b \u092f\u093e\u0926 \u0930\u0916\u0928\u093e \u0939\u094b\u0917\u093e\u0964", "\u0905\u092c \u0939\u092e \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 M2M \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0939\u0930 \u0926\u093f\u0928 \u092c\u0926\u0932\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0902 \u0907\u0938\u0932\u093f\u090f \u0939\u0930 \u0926\u093f\u0928 \u0906\u092a\u0915\u093e \u092b\u093e\u092f\u0926\u093e \u092f\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u092d\u0940 \u092c\u0926\u0932\u0924\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092f\u093e M2M \u0906\u092a\u0915\u0940 \u0907\u0938\u0940 \u092b\u093e\u092f\u0926\u093e \u092f\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u094b \u0926\u093f\u0928 \u0915\u0947 \u0905\u0902\u0924 \u092e\u0947\u0902 \u0939\u093f\u0938\u093e\u092c-\u0915\u093f\u0924\u093e\u092c \u0915\u0930\u0924\u093e \u0914\u0930 \u0930\u0916\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0905\u0902\u0924 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u091a\u0932 \u0938\u0915\u0947 \u0915\u093f \u0906\u092a \u0915\u094b \u0915\u093f\u0924\u0928\u0947 \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u092f\u093e \u0915\u093f\u0924\u0928\u0947 \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u091c\u092c \u0924\u0915 \u0906\u092a \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u092c\u0928\u0947 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u092c \u0924\u0915 M2M \u091a\u0932\u0924\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u094b \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f 1 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b 11:30 \u092c\u091c\u0947 \u0906\u092a\u0928\u0947 \u0939\u093f\u0902\u0921\u093e\u0932\u094d\u0915\u094b \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u20b9165 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u093f\u092f\u093e\u0964 \u0907\u0938\u0915\u093e \u0932\u0949\u091f \u0938\u093e\u0907\u091c \u0939\u0948 2000 \u0915\u093e\u0964 4 \u0926\u093f\u0928 \u092c\u093e\u0926 \u092f\u093e\u0928\u0940 4 \u0926\u093f\u0938\u0902\u092c\u0930 2014 \u0915\u094b \u0906\u092a \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 2:15 \u092a\u0930 \u0914\u0930 \u0915\u0940\u092e\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948 \u20b9170. 10 \u0964 \u0928\u0940\u091a\u0947 \u0915\u0940 \u0917\u0923\u0928\u093e \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f \u0906\u092a \u0915\u094b \u0915\u093f\u0924\u0928\u093e \u092b\u093e\u092f\u0926\u093e \u0939\u0941\u0906\u0964", "\u0916\u0930\u0940\u0926 \u0915\u0940\u092e\u0924 = 165", "\u092c\u0947\u091a\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 =170.10", "\u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u092a\u094d\u0930\u0949\u092b\u093f\u091f = 170.1-165 = 5.1", "\u0915\u0941\u0932 \u092e\u0941\u0928\u093e\u092b\u093e = 2000 \u00d7 5.1", "= 10,200/-", "\u0932\u0947\u0915\u093f\u0928 \u092f\u0939 \u0938\u094c\u0926\u093e \u091a\u093e\u0930 \u0926\u093f\u0928\u094b\u0902 \u0924\u0915 \u0925\u093e\u0964 \u0907\u0938\u0932\u093f\u090f \u0939\u0930 \u0926\u093f\u0928 \u0907\u0938\u0915\u0947 \u092b\u093e\u092f\u0926\u093e \u092f\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u094b M2M \u092e\u0947\u0902 \u0928\u094b\u091f \u0915\u093f\u092f\u093e \u091c\u093e \u0930\u0939\u093e \u0925\u093e\u0964 M2M \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0940 \u092c\u0902\u0926 \u0915\u0940\u092e\u0924 \u092f\u093e\u0928\u0940 \u0915\u094d\u0932\u094b\u091c \u092a\u094d\u0930\u093e\u0907\u0938 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0906\u0907\u090f \u0907\u0938 \u091f\u0947\u092c\u0932 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092a\u093f\u091b\u0932\u0947 4 \u0926\u093f\u0928\u094b\u0902 \u092e\u0947\u0902 \u0939\u0930 \u0926\u093f\u0928 M2M \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u0939\u0941\u0906?", "\u092a\u0939\u0932\u0947 \u0926\u093f\u0928 11:30 \u092a\u0930 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u093e\u0902\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0916\u0930\u0940\u0926\u093e \u0917\u092f\u093e \u091c\u092c \u0915\u0940\u092e\u0924 \u0925\u0940 \u20b9165 \u0964 \u0916\u0930\u0940\u0926\u0928\u0947 \u0935\u093e\u0932\u0947 \u0926\u093f\u0928 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c\u0940 \u0914\u0930 \u092c\u0902\u0926 \u0915\u0940\u092e\u0924 ( \u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u092a\u094d\u0930\u093e\u0907\u0938) \u0930\u0939\u0940 \u20b9168.3\u0964 \u092f\u093e\u0928\u0940 \u0926\u093f\u0928 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0939\u0941\u0906 \u20b9168.3 \u2013\u00a0 \u20b9165 = 3.3 \u0930\u0941\u092a\u090f\u0964\u00a0 \u091a\u0942\u0902\u0915\u093f \u092f\u0939\u093e\u0902 \u0932\u0949\u091f \u0938\u093e\u0907\u091c 2000 \u0915\u093e \u0939\u0948, \u0907\u0938\u0932\u093f\u090f \u0915\u0941\u0932 \u092e\u0941\u0928\u093e\u092b\u093e \u0939\u094b\u0917\u093e 3.3 \u00d7 2000 = \u20b96600 \u0964", "\u0905\u092c \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092f\u0939 \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0947\u0917\u093e \u0915\u093f \u0936\u093e\u092e \u0924\u0915 \u20b96600 \u0906\u092a\u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u091c\u0930\u093f\u090f \u0906 \u091c\u093e\u090f\u0902\u0964", "\u0905\u092c \u0906\u092a\u0915\u094b \u092f\u0939\u093e\u0902 \u090f\u0915 \u0914\u0930 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092c\u093e\u0924 \u092a\u0930 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u0939\u0948\u2013 \u0939\u093f\u0938\u093e\u092c-\u0915\u093f\u0924\u093e\u092c \u0938\u0939\u0940 \u0930\u0916\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u0905\u092c \u0906\u092a \u0915\u0940 \u0916\u0930\u0940\u0926 \u0915\u0940\u092e\u0924 \u20b9165 \u0928\u0939\u0940\u0902 \u092c\u0932\u094d\u0915\u093f \u20b9168 \u0939\u094b\u0917\u0940 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939\u0940 \u0909\u0938 \u0926\u093f\u0928 \u0915\u093e \u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u092a\u094d\u0930\u093e\u0907\u0938 \u0939\u0948\u0964 \u0906\u092a \u092a\u0942\u091b \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0910\u0938\u093e \u0915\u094d\u092f\u094b\u0902 \u0939\u0948? \u0910\u0938\u093e \u0907\u0938\u0932\u093f\u090f \u0939\u0948 \u0915\u093f \u0909\u0938 \u0926\u093f\u0928 \u0915\u093e \u091c\u094b \u092d\u0940 \u092b\u093e\u092f\u0926\u093e \u0939\u0941\u0906 \u0939\u0948 \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f(M2M) \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0906\u092a\u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092a\u0939\u0932\u0947 \u0939\u0940 \u092d\u0947\u091c \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092f\u0939 \u092d\u0940 \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0907\u0938 \u0926\u093f\u0928 \u0924\u0915 \u0915\u093e \u0906\u092a\u0915\u093e \u0939\u093f\u0938\u093e\u092c-\u0915\u093f\u0924\u093e\u092c \u092a\u0942\u0930\u093e \u0939\u094b \u091a\u0941\u0915\u093e \u0939\u0948\u0964 \u0905\u0917\u0932\u093e \u0926\u093f\u0928 \u090f\u0915 \u0928\u092f\u093e \u0926\u093f\u0928 \u0939\u094b\u0917\u093e\u0964 \u0907\u0938\u0932\u093f\u090f \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u20b9168.3 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u0936\u0941\u0930\u0941\u0906\u0924\u0940 \u0915\u0940\u092e\u0924 \u092e\u093e\u0928\u093e \u091c\u093e\u090f\u0917\u093e \u091c\u094b \u0915\u093f \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0940 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u0925\u0940\u0964", "\u0926\u0942\u0938\u0930\u0947 \u0926\u093f\u0928 \u092f\u093e\u0928\u0940 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0926\u0942\u0938\u0930\u0947 \u0926\u093f\u0928 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u20b9172.4 \u092a\u0930 \u092c\u0902\u0926 \u0939\u0941\u0906 \u092f\u093e\u0928\u0940 \u092f\u0947 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u0939\u0941\u0908\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0915\u093f \u0907\u0938 \u0926\u093f\u0928 \u092d\u0940 \u0906\u092a\u0915\u094b \u092e\u0941\u0928\u093e\u092b\u093e \u0939\u0941\u0906\u0964 \u0907\u0938 \u0926\u093f\u0928 \u0915\u093e \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u092e\u0941\u0928\u093e\u092b\u093e \u0939\u094b\u0917\u093e \u20b9172.4 \u2013 \u20b9168.3 = \u20b94.1 \u0914\u0930 \u0915\u0941\u0932 \u092e\u0941\u0928\u093e\u092b\u093e \u0939\u0941\u0906 2000\u00d74 .1 = \u20b98800\u0964 \u0905\u092c \u092f\u0947 \u092e\u0941\u0928\u093e\u092b\u093e \u092d\u0940 \u0906\u092a\u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0906 \u091c\u093e\u090f\u0917\u093e \u0914\u0930 \u0905\u092c \u0915\u0940\u092e\u0924 \u0939\u094b \u091c\u093e\u090f\u0917\u0940 \u20b9172.4 \u0964", "\u0924\u0940\u0938\u0930\u0947 \u0926\u093f\u0928 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u092c\u0902\u0926 \u0939\u0941\u0908\u00a0 \u20b9171.6 \u092a\u0930 \u092f\u093e\u0928\u0940 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u0907\u0938 \u0926\u093f\u0928 \u0906\u092a\u0915\u094b \u20b91600 (172.4-171.6= 0.8\u00d72000= 1600) \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b \u0930\u0939\u093e \u0939\u0948\u0964 \u092f\u0939 \u0930\u0915\u092e \u092d\u0940 \u0938\u0940\u0927\u0947 \u0906\u092a\u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u0928\u093f\u0915\u093e\u0932 \u0932\u0940 \u091c\u093e\u090f\u0917\u0940 \u0914\u0930 \u0905\u092c \u0928\u0908 \u0915\u0940\u092e\u0924 \u0939\u094b\u0917\u0940 \u20b9171.6 \u0964", "\u091a\u094c\u0925\u0947 \u0926\u093f\u0928 \u0906\u092a\u0928\u0947 \u092f\u0939 \u092a\u094b\u091c\u0940\u0936\u0928 \u0939\u094b\u0932\u094d\u0921 \u0928\u0939\u0940\u0902 \u0915\u0940 \u0914\u0930 \u0906\u092a\u0928\u0947 \u20b9170.10 \u092a\u0930 2.15 \u092c\u091c\u0947 \u0905\u092a\u0928\u093e \u0938\u094c\u0926\u093e \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930 \u0932\u093f\u092f\u093e\u0964 \u092f\u093e\u0928\u0940 \u0907\u0938 \u0926\u093f\u0928 \u092d\u0940 \u0906\u092a\u0915\u094b \u092b\u093e\u092f\u0926\u093e \u0928\u0939\u0940\u0902 \u092c\u0932\u094d\u0915\u093f \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u0941\u0906\u0964 \u20b91.5 \u0915\u093e (171.6 \u2013 170.1 =1.5) \u00a0\u0914\u0930 \u0915\u0941\u0932 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u0941\u0906 \u20b93000 (1.5 \u00d72000) \u0915\u093e\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u093e \u0915\u094b\u0908 \u092d\u0940 \u092c\u0926\u0932\u093e\u0935 \u0906\u092a\u0915\u0947 \u090f\u0915\u093e\u0909\u0902\u091f \u092a\u0930 \u0905\u0938\u0930 \u0928\u0939\u0940\u0902 \u0921\u093e\u0932\u0947\u0917\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0906\u092a\u0928\u0947 \u092a\u0939\u0932\u0947 \u0939\u0940 \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930 \u0932\u093f\u092f\u093e \u0939\u0948\u0964 \u0926\u093f\u0928 \u0915\u0947 \u0905\u0902\u0924 \u0924\u0915 \u0906\u092a\u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u20b93000 \u091c\u0930\u0942\u0930 \u0928\u093f\u0915\u093e\u0932 \u0932\u093f\u090f \u091c\u093e\u090f\u0902\u0917\u0947 \u091c\u094b \u0915\u093f \u0906\u092a\u0915\u093e \u0909\u0938 \u0926\u093f\u0928 \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u0948\u0964", "\u0907\u0938 \u0938\u093e\u0930\u0940 \u0932\u0947\u0928\u0926\u0947\u0928 \u0915\u094b \u090f\u0915 \u091f\u0947\u092c\u0932 \u092e\u0947\u0902 \u0921\u093e\u0932\u0915\u0930 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u0948\u0938\u0947 \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f (M2M) \u092c\u0926\u0932\u0924\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964", "\u0905\u0917\u0930 \u0906\u092a \u0907\u0938\u0915\u0940 \u0917\u0923\u0928\u093e \u092b\u093f\u0930 \u0938\u0947 \u0915\u0930\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f\u2013", "\u0916\u0930\u0940\u0926 \u0915\u0940\u092e\u0924 = 165", "\u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0940 \u0915\u0940\u092e\u0924 = 170.1", "\u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u092e\u0941\u0928\u093e\u092b\u093e = (170.1 -165) = 5.1", "\u0915\u0941\u0932 \u092e\u0941\u0928\u093e\u092b\u093e = 2000 \u00d7 5.1", "= Rs 10,200/-", "\u0924\u094b \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092f\u093e\u0928\u0940 M2M \u0939\u0930 \u0926\u093f\u0928 \u0915\u0940 \u090f\u0915\u093e\u0909\u0902\u091f\u093f\u0902\u0917 \u0915\u093e \u090f\u0915 \u0924\u0930\u0940\u0915\u093e \u0939\u0948,", "\u0906\u0916\u093f\u0930 \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0915\u094d\u092f\u093e \u0939\u0948? \u0905\u0938\u0932 \u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092f\u093e\u0928\u0940 M2M \u0915\u0947 \u091c\u0930\u093f\u090f \u0939\u0930 \u0926\u093f\u0928 \u092b\u093e\u092f\u0926\u0947 \u092f\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u0940 \u0930\u0915\u092e \u0915\u093e \u092d\u0941\u0917\u0924\u093e\u0928 \u0915\u0930\u0915\u0947 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092f\u0939 \u0938\u0941\u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u093e\u0909\u0902\u091f\u0930\u092a\u093e\u0930\u094d\u091f\u0940 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u093e \u0930\u093f\u0938\u094d\u0915 \u0915\u092e \u0938\u0947 \u0915\u092e \u0930\u0939\u0947\u0964 \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0938\u0947 \u092f\u0939 \u0939\u093f\u0938\u093e\u092c-\u0915\u093f\u0924\u093e\u092c \u0939\u0930 \u0926\u093f\u0928 \u092c\u0930\u093e\u092c\u0930 \u0939\u094b\u0924\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964", "\u0905\u092c \u090f\u0915 \u092c\u093e\u0930 \u092b\u093f\u0930 \u0938\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u0924\u0930\u092b \u0932\u094c\u091f\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u090f\u0915 \u092c\u093e\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u0915\u093f \u0939\u092e \u092a\u0939\u0932\u0947 \u092d\u0940 \u091a\u0930\u094d\u091a\u093e \u0915\u0930 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902 \u0915\u093f \u0938\u094c\u0926\u093e \u0915\u0930\u0924\u0947 \u0938\u092e\u092f \u091c\u094b \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u091c\u092e\u093e \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0909\u0938\u0947 \u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 (Initial Margin \u2013 IM) \u092f\u093e \u0936\u0941\u0930\u0941\u0906\u0924\u0940 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0914\u0930 \u092f\u0939 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u093e \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0939\u092e \u092f\u0939 \u092d\u0940 \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902", "\u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 (IM) = \u0938\u094d\u092a\u0948\u0928 (SPAN) \u092e\u093e\u0930\u094d\u091c\u093f\u0928 + \u090f\u0915\u094d\u0938\u094d\u092a\u094b\u091c\u093c\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928", "\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0906\u092a \u091c\u0948\u0938\u0947 \u0939\u0940 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u094c\u0926\u0947 \u0915\u0940 \u0936\u0941\u0930\u0941\u0906\u0924 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0935\u0948\u0938\u0947 \u0939\u0940 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u00a0\u092e\u0927\u094d\u092f\u0938\u094d\u0925/\u092c\u093f\u091a\u094c\u0932\u093f\u090f \u092f\u093e\u0928\u0940 \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0907\u0902\u091f\u0930\u092e\u0940\u0921\u093f\u092f\u0930\u0940\u091c \u0915\u093e\u092e \u092a\u0930 \u0932\u0917 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0938\u0938\u0947 \u0915\u093f \u0906\u092a\u0915\u093e \u0939\u0930 \u0938\u094c\u0926\u093e \u092c\u093f\u0928\u093e \u0930\u0941\u0915\u093e\u0935\u091f \u0915\u0947 \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u092a\u0942\u0930\u093e \u0939\u094b \u0938\u0915\u0947\u0964 \u0907\u0928\u092e\u0947\u0902 \u0926\u094b \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0907\u0902\u091f\u0930\u092e\u0940\u0921\u093f\u092f\u0930\u0940\u091c \u0939\u0948\u0902 \u2013 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0914\u0930 \u092c\u094d\u0930\u094b\u0915\u0930 \u0964", "", "\u0905\u092c \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u0905\u092a\u0928\u0947 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u0930 \u0926\u093f\u092f\u093e \u0924\u094b \u0907\u0938\u0915\u093e \u0905\u0938\u0930 \u092c\u094d\u0930\u094b\u0915\u0930 \u0914\u0930 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0926\u094b\u0928\u094b\u0902 \u092a\u0930 \u0939\u094b\u0917\u093e\u0964 \u0909\u0928 \u0926\u094b\u0928\u094b\u0902 \u0915\u094b \u0915\u093f\u0938\u0940 \u092d\u0940 \u0928\u0941\u0915\u0938\u093e\u0928 \u0938\u0947 \u092c\u091a\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u0940 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0940 \u0924\u0930\u092b \u0938\u0947 \u091c\u094b \u0915\u092e \u0938\u0947 \u0915\u092e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092f\u093e \u092e\u093f\u0928\u093f\u092e\u092e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0924\u092f \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0909\u0938\u0915\u094b \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 M2M \u092e\u0947\u0902 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u093f\u0938\u0940 \u0928\u0941\u0915\u0938\u093e\u0928 \u0938\u0947 \u092c\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0905\u0932\u0917 \u0938\u0947 \u090f\u0915 \u0914\u0930 \u0930\u0915\u092e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u091c\u094b\u0921\u093c\u0940 \u091c\u093e\u0924\u0940 \u091c\u093f\u0938\u0947 \u090f\u0915\u094d\u0938\u092a\u094b\u091c\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0947 \u0926\u094b\u0928\u094b\u0902 \u0939\u0940 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0940 \u0924\u0930\u092b \u0938\u0947 \u0924\u092f \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u093e \u0915\u094b\u0908 \u092d\u0940 \u0938\u094c\u0926\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u091c\u092e\u093e \u0915\u0930\u0928\u093e \u0939\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0940 \u0924\u0930\u092b \u0938\u0947 \u092a\u0942\u0930\u093e \u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 (SPAN + \u090f\u0915\u094d\u0938\u092a\u094b\u091c\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928) \u092c\u094d\u0932\u0949\u0915 \u0915\u0930 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0907\u0928 \u0926\u094b\u0928\u094b\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092e\u0947\u0902 \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u0930\u0915\u092e \u0906\u092a\u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u092a\u0930 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0924\u094b \u0906\u092a\u0915\u0947 \u090a\u092a\u0930 \u092a\u0947\u0928\u0932\u094d\u091f\u0940 \u0932\u0917 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0905\u092a\u0928\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u0939\u094b\u0932\u094d\u0921 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092f\u093e \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u092c\u091a\u093e\u090f \u0930\u0916\u0928\u0947 (\u092e\u0947\u0902\u091f\u0947\u0928 / maintain) \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0939\u094b\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u0915\u092d\u0940-\u0915\u092d\u0940 \u092e\u0947\u0902\u091f\u0947\u0928\u0947\u0902\u0938 (maintenance) \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u092c \u0938\u0935\u093e\u0932 \u092f\u0939 \u0939\u0948 \u0915\u093f \u092f\u0939 \u0915\u0948\u0938\u0947 \u0924\u092f \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u093f\u0938 \u0938\u094d\u091f\u0949\u0915 \u0915\u0947 \u0932\u093f\u090f \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u093f\u0924\u0928\u0940 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f? \u0939\u0930 \u0926\u093f\u0928 \u0907\u0938 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0924\u0930\u0940\u0915\u0947 \u0915\u093e \u090f\u0932\u094d\u0917\u094b\u0930\u093f\u0926\u092e (algorithm) \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u093f\u0924\u0928\u0940 \u0939\u094b\u0917\u0940 \u092f\u0947 \u0924\u092f \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u0909\u0938 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0940 \u0935\u094b\u0932\u0947\u091f\u093f\u0932\u093f\u091f\u0940 (volatility) \u092f\u093e\u0928\u0940 \u0909\u0920\u093e\u092a\u091f\u0915 \u0915\u0940 \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092d\u0942\u092e\u093f\u0915\u093e \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0935\u094b\u0932\u0947\u091f\u093f\u0932\u093f\u091f\u0940 \u0915\u094d\u092f\u093e \u0939\u094b\u0924\u0940 \u0939\u0948 \u0907\u0938 \u092a\u0930 \u0939\u092e \u0905\u0917\u0932\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u092e\u0947\u0902 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0905\u092d\u0940 \u092f\u0947 \u091c\u093e\u0928\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0935\u094b\u0932\u0947\u091f\u093f\u0932\u093f\u091f\u0940 \u092c\u0922\u093c\u0924\u0940 \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092d\u0940 \u092c\u0922\u093c \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915\u094d\u0938\u092a\u094b\u091c\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u090f\u0915 \u0905\u0924\u093f\u0930\u093f\u0915\u094d\u0924 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0915\u093e\u092e \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092f\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u0947 4 \u0938\u0947 5% \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u0905\u092c \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0914\u0930 M2M \u0915\u0947 \u0928\u091c\u0930\u093f\u090f \u0938\u0947 \u090f\u0915 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902.", "\u092f\u0926\u093f \u0906\u092a \u091c\u0947\u0930\u094b\u0927\u093e \u0915\u0947 \u091c\u0930\u093f\u090f \u091f\u094d\u0930\u0947\u0921 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u092f\u0939\u093e\u0902 \u092a\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u094b \u0938\u094d\u092a\u0948\u0928 (SPAN) \u0914\u0930 \u090f\u0915\u094d\u0938\u092a\u094b\u091c\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u0939\u0930 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0932\u093f\u090f \u0905\u0932\u0917-\u0905\u0932\u0917 \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u092a\u0930 \u0939\u092e \u0906\u0917\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0905\u092d\u0940 \u090a\u092a\u0930 \u0926\u093f\u090f \u0917\u090f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u091f\u094d\u0930\u0947\u0921 \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092f\u0939 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0914\u0930 M2M \u0915\u093f\u0938\u0940 \u090f\u0915 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0915\u093f\u0938 \u0924\u0930\u0939 \u0915\u0940 \u092d\u0942\u092e\u093f\u0915\u093e \u0905\u0926\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0928\u0940\u091a\u0947 \u0915\u0947 \u091f\u0947\u092c\u0932 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0926\u093f\u0916\u0947\u0917\u093e \u0915\u093f \u0939\u0930 \u0926\u093f\u0928 \u0907\u0938\u092e\u0947\u0902 \u0915\u093f\u0938 \u0924\u0930\u0939 \u0915\u093e \u092c\u0926\u0932\u093e\u0935 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "", "\u090a\u092a\u0930 \u0915\u0947 \u091f\u0947\u092c\u0932 \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u092c\u0939\u0941\u0924 \u0939\u0940 \u0906\u0938\u093e\u0928 \u0939\u0948\u0964 \u0905\u092d\u0940 \u0939\u092e \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0939\u0930 \u0926\u093f\u0928 \u092f\u0939 \u0915\u0948\u0938\u0947 \u092c\u0926\u0932 \u0930\u0939\u093e \u0939\u094b\u0924\u093e \u0939\u0948:", "10 \u0926\u093f\u0938\u0902\u092c\u0930 2014", "\u0907\u0938 \u0926\u093f\u0928 HDFC \u092c\u0948\u0902\u0915 \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u20b9938 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0916\u0930\u0940\u0926\u093e \u0917\u092f\u093e\u0964 \u0907\u0938\u0915\u093e \u0932\u0949\u091f \u0938\u093e\u0907\u091c 250 \u0915\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0939\u0941\u0908 \u20b9234675/- \u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e\u0947\u0902 \u090a\u092a\u0930 \u092c\u0949\u0915\u094d\u0938 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u0907\u0938\u0915\u093e \u0938\u094d\u092a\u0948\u0928\u00a0 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 7.5% \u0914\u0930 \u090f\u0915\u094d\u0938\u094d\u092a\u094b\u091c\u093c\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 5% \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0941\u0906 \u0915\u093f \u0915\u0941\u0932 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u093e 12.5% (SPAN + \u090f\u0915\u094d\u0938\u092a\u094b\u091c\u0930) \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092c\u094d\u0932\u0949\u0915 \u0939\u094b\u0917\u093e, \u091c\u094b \u0915\u093f \u20b9 29334 \u0939\u0948\u0964 \u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u0915\u0948\u0936 \u092c\u094d\u0932\u0949\u0915\u094d\u0921 (Initial cash blocked) \u092d\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "HDFC \u0909\u0938 \u0926\u093f\u0928 \u20b9940 \u092a\u0930 \u092c\u0902\u0926 \u0939\u094b\u0924\u093e \u0939\u0948 \u20b9940 \u092a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u092c\u0928\u0924\u0940 \u0939\u0948 \u20b9233000\u0964 \u0907\u0938\u0932\u093f\u090f \u0915\u0941\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092c\u0928\u0947\u0917\u0940 \u20b929375 \u091c\u094b \u0915\u093f \u092a\u0939\u0932\u0947 \u0915\u0940 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u20b947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964 \u0905\u092c \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0917\u094d\u0930\u093e\u0939\u0915 \u0915\u094b \u0914\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092e\u0928\u0940 \u0921\u093e\u0932\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u0940 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0938\u0915\u093e \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092f\u093e\u0928\u0940 M2M \u092e\u0941\u0928\u093e\u092b\u093e \u20b9325 \u0915\u093e \u0939\u0948 \u091c\u094b \u0915\u093f \u0907\u0938 \u0930\u0915\u092e \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948 \u0914\u0930 \u092f\u0947 \u0930\u0915\u092e \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0906 \u091a\u0941\u0915\u0940 \u0939\u0948\u0964", "\u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0915\u0941\u0932 \u0930\u0915\u092e \u0939\u094b\u0917\u0940 = \u0915\u0948\u0936 \u092c\u0948\u0932\u0947\u0902\u0938 + M2M", "= 29,334 + 325", "= 29,659", "\u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u092c\u091a\u0940 \u0939\u0941\u0908 \u0930\u0915\u092e, \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u0930\u0915\u092e \u092f\u093e\u0928\u0940 \u20b929375 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u092f\u0939\u093e\u0902 \u0915\u094b\u0908 \u0926\u093f\u0915\u094d\u0915\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f M2M \u0915\u0947 \u0932\u093f\u090f \u0928\u0908 \u0906\u0927\u093e\u0930 \u0915\u0940\u092e\u0924 \u20b9940 \u0939\u094b\u0917\u0940\u0964", "11 \u0926\u093f\u0938\u0902\u092c\u0930 2014", "\u0905\u0917\u0932\u0947 \u0926\u093f\u0928 HDFC \u092c\u0948\u0902\u0915 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b91 \u0917\u093f\u0930 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u20b9939 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 M2M \u092d\u0940 \u20b9250 \u0928\u0940\u091a\u0947 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u092f\u0939 \u0930\u0915\u092e \u092c\u091a\u0947 \u0939\u0941\u090f \u0915\u0948\u0936 \u092c\u0948\u0932\u0947\u0902\u0938 \u092e\u0947\u0902 \u0938\u0947 \u0928\u093f\u0915\u093e\u0932 \u0926\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u094b \u0926\u0947 \u0926\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938\u0928\u0947 \u092f\u0939 \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e\u093e\u092f\u093e \u0939\u0948\u0964 \u0905\u092c \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092c\u091a\u0924\u0947 \u0939\u0948\u0902", "= 29,659 -250", "= 29,409", "\u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0928\u092f\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092c\u0928\u0924\u093e \u0939\u0948 \u20b929344/- \u0905\u092d\u0940 \u092d\u0940 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092c\u091a\u0940 \u0939\u0941\u0908 \u0930\u0915\u092e \u0907\u0938 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u0930\u0915\u092e \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0915\u094b\u0908 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0915\u0940 \u092c\u093e\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0914\u0930 \u0905\u092c M2M \u0915\u0947 \u0932\u093f\u090f \u0928\u0908 \u0915\u0940\u092e\u0924 \u0939\u094b\u0917\u0940 \u20b9939/- \u0964", "12 \u0926\u093f\u0938\u0902\u092c\u0930 2014", "\u0907\u0938 \u0926\u093f\u0928 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0925\u094b\u0921\u093c\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0909\u0920\u093e\u092a\u091f\u0915 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 HDFC \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b99 \u0917\u093f\u0930 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0928\u0908 \u0915\u0940\u092e\u0924 \u20b9930 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964\u00a0 \u20b9930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0905\u092c \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0939\u0948 \u20b929063/- \u0964 \u0932\u0947\u0915\u093f\u0928 \u20b92250 \u0915\u093e M2M \u0932\u0949\u0938 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964\u00a0 \u091c\u093f\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092c\u091a\u0924\u0947 \u0939\u0948\u0902 \u20b927159/- \u00a0\u091c\u094b \u0915\u093f \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0938\u0947 \u0915\u092e \u0939\u0948\u0964 \u0905\u092c \u091a\u0942\u0902\u0915\u093f \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0938\u0947 \u0915\u092e \u0930\u0915\u092e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0917\u094d\u0930\u093e\u0939\u0915 \u0915\u094b \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0914\u0930 \u092a\u0948\u0938\u0947 \u0921\u093e\u0932\u0928\u0947 \u092a\u0921\u093c\u0947\u0902\u0917\u0947\u0964 \u0928\u0939\u0940\u0902, \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0939\u094b\u0917\u093e \u0915\u093f \u0938\u094d\u092a\u0948\u0928 \u0914\u0930 \u090f\u0915\u094d\u0938\u092a\u094b\u091c\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092e\u0947\u0902 \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0939\u0924\u094d\u0935 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091c\u094d\u092f\u093e\u0926\u093e\u0924\u0930 \u092c\u094d\u0930\u094b\u0915\u0930 \u0906\u092a\u0915\u094b \u092f\u0939 \u0938\u0941\u0935\u093f\u0927\u093e \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u0917\u0930 \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 (\u092e\u0947\u0928\u094d\u091f\u0947\u0928\u0947\u0902\u0938 \u092e\u093e\u0930\u094d\u091c\u093f\u0928) \u0915\u0940 \u0930\u0915\u092e \u092a\u0942\u0930\u0940 \u0939\u0948 \u0924\u094b \u0906\u092a \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0939\u094b\u0932\u094d\u0921 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u092c \u0906\u092a\u0915\u0947 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092e\u0947\u0902\u091f\u0947\u0928\u0947\u0902\u0938 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0938\u0947 \u0930\u0915\u092e \u0915\u092e \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u0924\u092c \u092c\u094d\u0930\u094b\u0915\u0930 \u0906\u092a \u0915\u094b \u0915\u0939\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u094b \u0914\u0930 \u092a\u0948\u0938\u0947 \u0921\u093e\u0932\u0928\u0947 \u092a\u0921\u093c\u0947\u0902\u0917\u0947\u0964 \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u092a\u0948\u0938\u0947 \u0928\u0939\u0940\u0902 \u0921\u093e\u0932\u0947 \u0924\u094b \u0906\u092a \u0915\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0915\u094d\u0932\u094b\u091c \u0915\u0930 \u0926\u093f\u092f\u093e \u091c\u093e\u090f\u0917\u093e\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0940 \u0915\u0949\u0932 \u091c\u092c \u0906\u092a\u0915\u094b \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0930\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0915\u094b \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0949\u0932 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0906\u092a\u0915\u093e \u092c\u094d\u0930\u094b\u0915\u0930 \u0906\u092a\u0915\u094b \u0915\u0949\u0932 \u0915\u0930\u0915\u0947 \u0914\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0921\u093e\u0932\u0928\u0947 \u0915\u094b \u0915\u0939 \u0930\u0939\u093e \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u0947 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0930\u0915\u092e \u0915\u093e\u092b\u0940 \u0915\u092e \u0939\u094b \u0917\u0908 \u0939\u0948\u0964", "\u0939\u092e\u093e\u0930\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0905\u092c \u0928\u092f\u093e \u0915\u0948\u0936 \u092c\u0948\u0932\u0947\u0902\u0938 \u0939\u0948 \u20b927159 \u091c\u094b \u0915\u093f \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u20b917438 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0905\u092d\u0940 \u0924\u0915 \u0915\u094b\u0908 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 M2M \u0928\u0941\u0915\u0938\u093e\u0928 \u0906\u092a\u0915\u0947 \u090f\u0915\u093e\u0909\u0902\u091f \u0938\u0947 \u0928\u093f\u0915\u0932 \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0932\u093f\u090f M2M \u0915\u0947 \u0932\u093f\u090f \u0928\u0908 \u0915\u0940\u092e\u0924 \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948 \u20b9930/- \u0964", "\u092f\u0939\u093e\u0902 \u0924\u0915 \u0906\u092a\u0915\u094b \u0925\u094b\u0921\u093c\u093e \u092c\u0939\u0941\u0924 \u090f\u0939\u0938\u093e\u0938 \u0939\u094b\u0928\u0947 \u0932\u0917\u093e \u0939\u094b\u0917\u093e \u0915\u093f M2M \u0914\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u093f\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u091a\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u092d\u0940 \u0938\u092e\u091d \u092e\u0947\u0902 \u0906\u0928\u0947 \u0932\u0917\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0907\u0928\u0915\u0947 \u091c\u0930\u093f\u090f \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0948\u0938\u0947 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0938\u0947 \u092c\u091a\u093e \u0915\u0930 \u0930\u0916\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092f\u0939\u0940 \u0926\u094b\u0928\u094b\u0902, \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0914\u0930 M2M \u092e\u093f\u0932\u0915\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u094b \u0939\u094b\u0928\u0947 \u0938\u0947 \u0930\u094b\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u092c \u091a\u0942\u0902\u0915\u093f \u0906\u092a\u0915\u094b \u092f\u0939 \u0938\u092c \u0915\u0941\u091b \u0938\u092e\u091d \u092e\u0947\u0902 \u0906\u0928\u0947 \u0932\u0917\u093e \u0939\u0948, \u0907\u0938\u0932\u093f\u090f \u0939\u092e \u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0905\u0902\u0924\u093f\u092e \u0926\u093f\u0928 \u0915\u0940 \u0913\u0930 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902\u0964", "19 \u0926\u093f\u0938\u0902\u092c\u0930 2014", "HDFC \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u20b9955 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u091a\u0941\u0915\u0940 \u0939\u0948 \u0914\u0930 \u0905\u092c \u091f\u094d\u0930\u0947\u0921\u0930 \u092f\u0939 \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u0939 \u0905\u092a\u0928\u0947 \u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u094b \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930 \u0926\u0947\u0917\u093e \u0914\u0930 \u092a\u0948\u0938\u0947 \u0928\u093f\u0915\u093e\u0932 \u0932\u0947\u0917\u093e\u0964 \u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u0915\u094d\u0932\u094b\u091c \u0915\u0940\u092e\u0924 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0909\u0938\u0915\u0947 M2M \u0915\u0940 \u0930\u0915\u092e \u20b9938 \u092c\u0928\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0909\u0938\u0915\u093e M2M \u092e\u0941\u0928\u093e\u092b\u093e \u20b94250 \u092c\u0928\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0930\u0915\u092e \u0909\u0938\u0915\u0947 \u092a\u093f\u091b\u0932\u0947 \u0926\u093f\u0928 \u0915\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u092f\u093e\u0928\u0940 \u20b9 29159 \u092e\u0947\u0902 \u091c\u0941\u0921\u093c \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0905\u092c \u0909\u0938\u0915\u0947 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0915\u0941\u0932 \u20b9 33409 (29159 + 4250) \u092c\u091a\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u0939\u0940 \u0935\u0939 \u092f\u0939 \u0938\u094c\u0926\u093e \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930\u0924\u093e \u0939\u0948 \u092f\u0939 \u0930\u0915\u092e \u0909\u0938\u0915\u0947 \u090f\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0906 \u091c\u093e\u090f\u0917\u0940\u0964", "\u0905\u092c \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0907\u0938 \u092a\u0942\u0930\u0947 \u0938\u094c\u0926\u0947 \u0915\u093e P&L \u0915\u0948\u0938\u093e \u0926\u093f\u0916\u093e\u0908 \u0926\u0947\u0917\u093e\u0964 P&L \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u0915\u0908 \u0924\u0930\u0940\u0915\u0947 \u0939\u094b \u0938\u0915\u0924\u0947 \u0939\u0948\u0902:", "\u0924\u0930\u0940\u0915\u093e 1) \u2013 \u0938\u092d\u0940 M2M\u00a0 \u0915\u094b \u091c\u094b\u0921\u093c \u0915\u0930", "P&L = \u0938\u092d\u0940 M2M \u0915\u093e \u091c\u094b\u0921\u093c", "= 325 \u2013 250 -2250 + 4750- 4000 \u2013 2000 + 3250 + 4250", "= \u20b9 4075", "\u0924\u0930\u0940\u0915\u093e 2) \u2013 \u0915\u0948\u0936 \u0930\u093f\u0932\u0940\u091c", "P&L = \u092c\u094d\u0930\u094b\u0915\u0930 \u0926\u094d\u0935\u093e\u0930\u093e \u0935\u093e\u092a\u0938 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0905\u0902\u0924\u093f\u092e \u0915\u0948\u0936 (\u0915\u0948\u0936 \u0930\u093f\u0932\u0940\u091c) \u2013 \u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 (\u0936\u0941\u0930\u0942\u0906\u0924 \u092e\u0947\u0902 \u092c\u094d\u0932\u093e\u0915 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928)", "= 33409 \u2013 29334", "= \u20b9 4075", "\u0924\u0930\u0940\u0915\u093e 3) \u2013 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942", "P&L = \u0905\u0902\u0924\u093f\u092e \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u2013 \u0936\u0941\u0930\u0942\u0906\u0924\u0940 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942", "= \u20b9 238,750 \u2013 \u20b9 234,675", "= \u20b9 4075", "\u0924\u0930\u0940\u0915\u093e 4) \u2013 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0940\u092e\u0924", "P&L = (\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926 \u0914\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u093e \u0905\u0902\u0924\u0930) \u00d7 \u0932\u0949\u091f \u0938\u093e\u0907\u091c", "\u0916\u0930\u0940\u0926 \u0915\u0940\u092e\u0924 = 938.7", "\u092c\u0947\u091a\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 = 955", "\u0932\u0949\u091f \u0938\u093e\u0907\u091c = 250", "= 16.3 \u00d7 250", "= \u20b94075", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0906\u092a \u0915\u093f\u0938\u0940 \u092d\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 P&L \u0928\u093f\u0915\u093e\u0932\u0947\u0902, \u0930\u0915\u092e \u090f\u0915 \u0939\u0940 \u0906\u0924\u0940 \u0939\u0948\u0964", "\u0915\u0941\u091b \u0926\u0947\u0930 \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u092f\u0939 \u091f\u094d\u0930\u0947\u0921 19 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u094b \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0928\u0939\u0940\u0902 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0914\u0930 \u092f\u0939 \u0938\u094c\u0926\u093e 20 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u094b \u092d\u0940 \u092c\u0928\u093e \u0930\u0939\u0924\u093e \u0939\u0948\u0964 \u0909\u0938 \u0926\u093f\u0928 \u092f\u093e\u0928\u0940 20 \u0926\u093f\u0938\u0902\u092c\u0930 \u0915\u094b HDFC \u092c\u0948\u0902\u0915 \u0915\u093e \u0936\u0947\u092f\u0930 8% \u0917\u093f\u0930 \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0915\u0940\u092e\u0924 \u20b9955 \u0938\u0947 \u0917\u093f\u0930 \u0915\u0930 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u0940 \u0939\u0948 \u20b9880 \u092a\u0930\u0964 \u0905\u092c \u092f\u0939\u093e\u0902 \u092a\u0930 \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u093e? \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u0947 \u091c\u0935\u093e\u092c \u0916\u0941\u0926 \u0926\u0947\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940\u091c\u093f\u090f\u0964", "\u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0906\u092a \u0907\u0928 \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u0947 \u091c\u0935\u093e\u092c \u0916\u0941\u0926 \u0939\u0940 \u0928\u093f\u0915\u093e\u0932 \u0932\u0947\u0902\u0917\u0947 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0906\u092a\u0915\u094b \u0907\u0928 \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u093e \u091c\u0935\u093e\u092c \u0928\u0939\u0940\u0902 \u092a\u0924\u093e \u0939\u0948 \u0924\u094b \u0906\u092a\u0915\u094b \u092e\u0948\u0902 \u091c\u0935\u093e\u092c \u092c\u0924\u093e \u0926\u0947\u0924\u093e \u0939\u0942\u0902\u0964", "Tqsm \ud83d\ude4f\ud83d\ude4f\ud83d\ude4f", "Happy Learning.:)", "Dear Sir,", "Namaskaar\u2026\u2026.", "Aapke ke dwara yah banaya gaya notes bahut hi kargaar hai. aur meri share market ke sahi jaankaari prapt ho rahi hai. mera aapko dil se dhanyavaad deta hu.", "aur neche diye gaye Question maine apne aap solve kiye aur aapke answaer se match kita, jo bilkul theek the.", "Thanks a lot sir.", "\u0906\u092a\u0915\u093e \u0905\u092d\u093f\u0928\u0928\u094d\u0926\u0928 \u0939\u0948, \u0910\u0938\u0947 \u0939\u0947 \u092a\u095d\u0924\u0947 \u0930\u0939\u0947\u0902 \u0914\u0930 \u0939\u092e\u0947\u0902 \u0938\u092a\u094b\u0930\u094d\u091f \u0915\u0930\u0947\u0902, \u0905\u092a\u0928\u0947 \u0926\u094b\u0938\u094d\u0924\u094b\u0902 \u092e\u0947\u0902 \u092d\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092b\u0948\u0932\u093e\u092f\u0947\u0902\u0964 \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964", "In varisty\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026", "\u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 = \u0938\u094d\u092a\u0948\u0928 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 + \u090f\u0915\u094d\u0938\u094d\u092a\u094b\u091c\u093c\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 (Initial Margin = SPAN Margin + Exposure Margin)", "In Margin Calculator\u2026\u2026\u2026\u2026\u2026.", "Symbol", "Net quantity(Lot size 400)\n400\n Buy Sell", "Combined margin requirements\nSpan Rs: 87,116", "Exposure margin Rs: 30,244", "Total margin ? Rs: 1,17,360", "Exchange\tContract\tProduct\tStrike\tQty\tInitial margin\tExposure\tTotal\nNFOx\nACC20APR\tFutures\tN/A\t400 B\t87,116\t30,244\t1,17,360\nTotal\t1,17,360", "Hi Rashmi, F&O \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0930\u0947\u0915\u094d\u0935\u093f\u0930\u0947\u092e\u0947\u0902\u091f \u0939\u0948 SPAN + Exposure.", "Bahut Achhi tarah aapne hindi me samjhay hai, hindi me itni achhi samagri share bazar ke bare me nahi milti hai,isko apne app pe leaaiye,waha sirf english me aa raha hai", "\u0939\u092e \u0907\u0938 \u092a\u0930 \u0915\u093e\u092e \u0930\u0939\u0947 \u0939\u0948\u0902, \u0935\u0939 \u092d\u0940 \u091c\u0932\u094d\u0926 \u0939\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u093e\u092f\u093e \u091c\u093e\u092f\u0947\u0917\u093e\u0964", "hindi me ess bisay me jankari dene ke liye aap logon ko bahut dhanyabad", "\u0906\u092a\u0915\u093e \u0905\u092d\u093f\u0928\u0928\u094d\u0926\u0928 \u0939\u0948\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2015/01/M4-Ch5-title1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/01/M4-Ch5-chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/01/M4-Ch5_table.jpg", "https://secure.gravatar.com/avatar/f2598e56174de661b27edf18ee33496a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/32664e0290bb823f7ad01790d40db636?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d0fe065cb80ed5b0a2e2ab400d4fd002?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1a68a4d15b93fe6c7f6810e539e37a45?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/43c03a39ed3eb60a9a1b9c4106c202a6?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<th><b>\u0924\u093e\u0930\u0940\u0916</b></th>\n<th><b>\u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u0915\u0940\u092e\u0924</b></th>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1st Dec 2014</span></td>\n<td><span style=\"font-weight: 400;\">168.3</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2nd Dec 2014</span></td>\n<td><span style=\"font-weight: 400;\">172.4</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3rd Dec 2014</span></td>\n<td><span style=\"font-weight: 400;\">171.6</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4th Dec 2014</span></td>\n<td><span style=\"font-weight: 400;\">169.9</span></td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<td><b>\u0924\u093e\u0930\u0940\u0916</b></td>\n<td><b> M2M </b><b>\u0915\u0947 \u0932\u093f\u090f \u0915\u0940\u092e\u0924</b></td>\n<td><b>\u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u0915\u0940\u092e\u0924</b></td>\n<td><b>\u0926\u093f\u0928 \u0915\u093e</b><b> M2M</b></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1st Dec 2014</span></td>\n<td><span style=\"font-weight: 400;\">165</span></td>\n<td><span style=\"font-weight: 400;\">168.3</span></td>\n<td><span style=\"font-weight: 400;\">+ Rs.6,600/-</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2nd Dec 2014</span></td>\n<td><span style=\"font-weight: 400;\">168.3</span></td>\n<td><span style=\"font-weight: 400;\">172.4</span></td>\n<td><span style=\"font-weight: 400;\">+Rs.8,200/-</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3rd Dec 2014</span></td>\n<td><span style=\"font-weight: 400;\">172.4</span></td>\n<td><span style=\"font-weight: 400;\">171.6</span></td>\n<td><span style=\"font-weight: 400;\">-Rs.1,600/-</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4th Dec 2014</span></td>\n<td><span style=\"font-weight: 400;\">171.6 &amp; 170.1</span></td>\n<td><span style=\"font-weight: 400;\">169.9</span></td>\n<td><span style=\"font-weight: 400;\">\u2013 Rs.3,000/-</span></td>\n</tr>\n<tr>\n<td colspan=\"3\"><b>Total</b></td>\n<td><b>+Rs.10,200/-</b></td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<td><b>\u0935\u093f\u0935\u0930\u0923</b></td>\n<td><b>\u091c\u093e\u0928\u0915\u093e\u0930\u0940</b></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0938\u094d\u091f\u0949\u0915</span></td>\n<td><span style=\"font-weight: 400;\">HDFC Bank Limited</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0938\u094c\u0926\u0947 \u0915\u093e \u092a\u094d\u0930\u0915\u093e\u0930</span></td>\n<td><span style=\"font-weight: 400;\">\u0932\u093e\u0902\u0917</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0916\u0930\u0940\u0926 \u0915\u0940 \u0924\u093f\u0925\u093f</span></td>\n<td><span style=\"font-weight: 400;\">10th Dec 2014</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0916\u0930\u0940\u0926 \u0915\u0940\u092e\u0924</span></td>\n<td><span style=\"font-weight: 400;\">Rs.938.7/- </span><span style=\"font-weight: 400;\">\u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u092c\u0947\u091a\u0928\u0947 \u0915\u0940 \u0924\u093f\u0925\u093f</span></td>\n<td><span style=\"font-weight: 400;\">19th Dec</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u092c\u0947\u091a\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0940\u092e\u0924</span></td>\n<td><span style=\"font-weight: 400;\">Rs.955/- per share</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0932\u0949\u091f \u0938\u093e\u0907\u091c</span></td>\n<td><span style=\"font-weight: 400;\">250</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0915\u093e\u0902\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942</span></td>\n<td><span style=\"font-weight: 400;\">250*938.7 = Rs.234,675/-</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">SPAN </span><span style=\"font-weight: 400;\">\u092e\u093e\u0930\u094d\u091c\u093f\u0928</span></td>\n<td><span style=\"font-weight: 400;\">7.5% of CV = Rs.17,600/-</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u090f\u0915\u094d\u0938\u092a\u094b\u091c\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928</span></td>\n<td><span style=\"font-weight: 400;\">5.0% of CV = Rs.11,733/-</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">IM/ </span><span style=\"font-weight: 400;\">\u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928</span><span style=\"font-weight: 400;\"> (SPAN + Exposure)</span></td>\n<td><span style=\"font-weight: 400;\">17600 + 11733 = Rs.29,334/-</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 </span><span style=\"font-weight: 400;\">P&amp;L\u00a0</span></td>\n<td><span style=\"font-weight: 400;\">\u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930 </span><span style=\"font-weight: 400;\">Rs.16.3/- (955 \u2013 938.7) </span><span style=\"font-weight: 400;\">\u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e</span></td>\n</tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u0915\u0941\u0932 \u092e\u0941\u0928\u093e\u092b\u093e</span></td>\n<td><span style=\"font-weight: 400;\">250 * 16.3 = Rs.4,075/-</span></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "7. \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 (\u092d\u093e\u0917 2)", "text": ["\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u0940 \u0936\u0941\u0930\u0941\u0906\u0924 \u0939\u092e \u090f\u0915 \u092a\u0941\u0930\u093e\u0928\u0947 \u0938\u0935\u093e\u0932 \u0938\u0947 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u2013 \u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094d\u092f\u094b\u0902 \u0932\u0917\u093e\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902? \u0905\u092c \u0939\u092e \u090f\u0915 \u092c\u093e\u0930 \u0907\u0938\u0915\u093e \u091c\u0935\u093e\u092c \u0926\u094b\u0939\u0930\u093e \u0932\u0947\u0924\u0947 \u0939\u0948\u0902:", "\u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u0930\u093f\u0938\u094d\u0915 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0915\u0947 \u0932\u093f\u090f \u0932\u0917\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0947 \u091c\u0930\u093f\u090f \u092f\u0939 \u0915\u094b\u0936\u093f\u0936 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0915\u093f \u0915\u093e\u0909\u0902\u091f\u0930\u092a\u093e\u0930\u094d\u091f\u0940 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0928\u093e \u0939\u094b\u0964 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u0911\u092b\u093f\u0938 \u092e\u0947\u0902 RMS \u0938\u093f\u0938\u094d\u091f\u092e \u092f\u093e\u0928\u0940 \u0930\u093f\u0938\u094d\u0915 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0938\u093f\u0938\u094d\u091f\u092e \u0932\u0917\u093e \u0939\u094b\u0924\u093e \u0939\u0948, \u091c\u094b \u0907\u0938 \u092c\u093e\u0924 \u0915\u0947 \u0932\u093f\u090f \u091c\u093f\u092e\u094d\u092e\u0947\u0926\u093e\u0930 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0935\u0939 \u0930\u093f\u0938\u094d\u0915 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0915\u094b \u0926\u0947\u0916\u0947\u0964 RMS \u090f\u0915 \u0915\u0902\u092a\u094d\u092f\u0942\u091f\u0930 \u092a\u094d\u0930\u094b\u0917\u094d\u0930\u093e\u092e \u0939\u0948 \u0914\u0930 \u0939\u0930 \u0915\u093e\u0930\u094b\u092c\u093e\u0930\u0940 \u0915\u0947 \u0938\u093e\u0930\u0947 \u0911\u0930\u094d\u0921\u0930 \u092a\u0939\u0932\u0947 RMS \u092e\u0947\u0902 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 \u0939\u0940 \u0906\u0917\u0947 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092a\u0930 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u0941\u091b \u0932\u094b\u0917 RMS \u092a\u0930 \u0932\u0917\u093e\u0924\u093e\u0930 \u0928\u091c\u0930 \u0930\u0916\u0924\u0947 \u0939\u0948\u0902 \u0924\u093e\u0915\u093f \u092f\u0947 \u092a\u0924\u093e \u0930\u0939\u0947 \u0915\u093f \u0938\u092c \u0938\u0939\u0940 \u091a\u0932 \u0930\u0939\u093e \u0939\u0948 \u092f\u093e \u0915\u0941\u091b \u0917\u0932\u0924 \u0939\u094b \u0930\u0939\u093e \u0939\u0948\u0964", "\u091c\u092c \u0906\u092a \u090f\u0915 \u0938\u094c\u0926\u093e \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b RMS \u0915\u094b \u0915\u0941\u091b \u0938\u0942\u091a\u0928\u093e \u0926\u0947\u0924\u0947 \u0939\u0948\u0902, \u091c\u0948\u0938\u0947 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u090f\u0915 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u093e \u0938\u094c\u0926\u093e \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a RMS \u0915\u094b \u092c\u0924\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f", "\u091c\u092c \u090f\u0915 \u092c\u093e\u0930 \u0906\u092a \u092f\u0939 \u0938\u094c\u0926\u093e \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b RMS \u0938\u093f\u0938\u094d\u091f\u092e \u0924\u092f \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0909\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0915\u093f\u0924\u0928\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0939\u0948 \u0914\u0930 \u0905\u0917\u0930 \u0906\u092a\u0915\u0947 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0909\u0924\u0928\u0947 \u092a\u0948\u0938\u0947 \u0939\u0948\u0902 \u0924\u094b \u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u092f\u093e\u0928\u0940 \u0938\u094c\u0926\u0947 \u0915\u094b \u0906\u0917\u0947 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092a\u0930 \u092d\u0947\u091c \u0926\u0947\u0924\u093e \u0939\u0948\u0964", "\u0932\u0947\u0915\u093f\u0928 \u0915\u0941\u091b \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u091c\u094b \u0906\u092a RMS \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u0928\u0939\u0940\u0902 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902, \u091c\u0948\u0938\u0947 \u0915\u093f\u2013", "\u0905\u0917\u0930 \u0906\u092a \u092f\u0939 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092d\u0940 RMS \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u0926\u0947 \u0926\u0947\u0902 \u0924\u094b \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u093e? RMS \u0938\u093f\u0938\u094d\u091f\u092e \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0947\u0939\u0924\u0930 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0947\u0917\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0938\u0947 \u0930\u093f\u0938\u094d\u0915 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u0927\u093f\u0915 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u094b\u0917\u0940\u0964", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u0905\u0917\u0930 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u0915\u093f\u0938\u0940 \u091f\u094d\u0930\u0947\u0921 \u092f\u093e \u0938\u094c\u0926\u0947 \u0915\u0947 \u0938\u092e\u092f \u0905\u0935\u0927\u093f \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u094b \u0924\u094b \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u092a\u0924\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0906\u092a \u0915\u093f\u0924\u0928\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0935\u094b\u0932\u0948\u091f\u093f\u0932\u093f\u091f\u0940 \u0915\u093e \u0938\u093e\u092e\u0928\u093e \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947, \u0905\u0917\u0930 \u0906\u092a \u0915\u093e \u0938\u094c\u0926\u093e \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0939\u0948 \u0924\u094b \u0906\u092a\u0915\u094b \u0938\u093f\u0930\u094d\u092b 1 \u0926\u093f\u0928 \u0915\u0940 \u0935\u094b\u0932\u0948\u091f\u093f\u0932\u093f\u091f\u0940 \u0915\u093e \u0938\u093e\u092e\u0928\u093e \u0915\u0930\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u0906\u092a \u0938\u094c\u0926\u093e \u0915\u0908 \u0926\u093f\u0928\u094b\u0902 \u0924\u0915 \u0930\u0916\u0928\u0947 \u0935\u093e\u0932\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u0915\u0908 \u0926\u093f\u0928\u094b\u0902 \u0924\u0915 \u0935\u094b\u0932\u0948\u091f\u093f\u0932\u093f\u091f\u0940 \u0915\u093e \u0938\u093e\u092e\u0928\u093e \u0915\u0930\u0928\u093e \u092a\u0921\u093c \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0938\u093e\u0925 \u0939\u0940, \u0906\u092a\u0915\u094b \u0913\u0935\u0930\u0928\u093e\u0907\u091f \u0930\u093f\u0938\u094d\u0915 \u0915\u093e \u092d\u0940 \u0938\u093e\u092e\u0928\u093e \u0915\u0930\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e\u0964", "\u0913\u0935\u0930\u0928\u093e\u0907\u091f \u0930\u093f\u0938\u094d\u0915 \u0935\u094b \u0930\u093f\u0938\u094d\u0915 \u0939\u0948 \u091c\u094b \u0906\u092a \u0924\u092c \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u0906\u092a \u0905\u092a\u0928\u0947 \u0938\u094c\u0926\u0947 \u0915\u094b \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u0924\u0915 \u0915\u0947 \u0932\u093f\u090f \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u092e\u0948\u0902\u0928\u0947 \u090f\u0915 BPCL \u0915\u093e \u0932\u093e\u0902\u0917 \u0938\u094c\u0926\u093e \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0913\u0935\u0930\u0928\u093e\u0907\u091f \u0930\u0916\u0924\u093e \u0939\u0942\u0902, \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u0939\u0940 \u0939\u0948 \u0915\u093f \u0915\u091a\u094d\u091a\u0947 \u0924\u0947\u0932 \u092e\u0947\u0902 \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0909\u0924\u093e\u0930-\u091a\u0922\u093c\u093e\u0935 \u0915\u093e \u0905\u0938\u0930 BPCL \u092a\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0909\u0938\u0940 \u0930\u093e\u0924 \u0915\u091a\u094d\u091a\u093e \u0924\u0947\u0932 5% \u090a\u092a\u0930 \u091a\u0932\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0907\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0905\u0917\u0932\u0940 \u0938\u0941\u092c\u0939 BPCL \u0915\u0947 \u0936\u0947\u092f\u0930 \u092a\u0930 \u092c\u0941\u0930\u093e \u0905\u0938\u0930 \u092a\u0921\u093c\u0947\u0917\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f BPCL \u0915\u0947 \u0932\u093f\u090f \u0915\u091a\u094d\u091a\u093e \u0924\u0947\u0932 \u0916\u0930\u0940\u0926\u0928\u093e \u092e\u0939\u0902\u0917\u093e \u0939\u094b \u091c\u093e\u090f\u0917\u093e\u0964 \u0905\u092c \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u092e\u0948\u0902\u0928\u0947 \u092f\u0939 \u0938\u094c\u0926\u093e \u0913\u0935\u0930\u0928\u093e\u0907\u091f \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f BPCL \u0915\u0947 \u0907\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u092e\u0941\u091d\u0947 \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u0928\u093e \u092a\u0921\u093c \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u092f\u093e\u0928\u0940 \u092e\u0941\u091d\u0947 M2M \u092e\u0947\u0902 \u090f\u0915 \u0915\u091f\u094c\u0924\u0940 \u091d\u0947\u0932\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u0907\u0938\u0947 \u0939\u0940 \u0913\u0935\u0930\u0928\u093e\u0907\u091f \u0930\u093f\u0938\u094d\u0915 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0924\u094b \u0905\u092c \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u092e\u0947\u0902 \u0906 \u0917\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0905\u0917\u0930 \u0939\u092e \u0938\u094c\u0926\u0947 \u0915\u094b \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0924\u0915 \u0930\u0916\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 RMS \u0907\u0938\u0915\u094b \u091c\u093e\u0928\u0924\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0947 \u092a\u0924\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0906\u092a\u0915\u093e \u0930\u093f\u0938\u094d\u0915 \u092c\u0922\u093c \u0930\u0939\u093e \u0939\u0948\u0964 RMS \u0915\u0947 \u0928\u091c\u0930\u093f\u090f \u0938\u0947 \u0906\u092a \u0938\u094c\u0926\u0947 \u0915\u094b \u091c\u093f\u0924\u0928\u0947 \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0924\u0915 \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u0947\u0902\u0917\u0947 \u0906\u092a\u0915\u093e \u0930\u093f\u0938\u094d\u0915 \u0909\u0924\u0928\u093e \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0917\u093e\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947, \u0906\u092a \u0915\u0947 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u094b\u091a\u093f\u090f\u0964 \u091c\u092c RMS \u0915\u094b \u092f\u0939 \u0928\u0939\u0940\u0902 \u092a\u0924\u093e \u0939\u094b\u0924\u093e \u0915\u093f \u0906\u092a\u0915\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u094d\u092f\u093e \u0939\u0948 \u0914\u0930 \u0906\u092a \u0915\u093f\u0924\u0928\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u0928\u0947 \u0915\u094b \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902, \u0924\u094b RMS \u0906\u092a \u0915\u0947 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947\u0928\u0947 \u0915\u0940 \u0915\u094d\u0937\u092e\u0924\u093e \u0915\u094b \u0928\u0939\u0940\u0902 \u0938\u092e\u091d \u092a\u093e\u0924\u093e \u0939\u0948\u0964 \u0935\u0948\u0938\u0947 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u092c\u0924\u093e\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 RMS \u0915\u094b \u092f\u0939 \u092a\u0924\u093e \u0939\u094b \u0924\u094b \u0938\u093f\u0938\u094d\u091f\u092e \u091c\u094d\u092f\u093e\u0926\u093e \u0905\u091a\u094d\u091b\u0947 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0915\u093e\u092e \u0915\u0930 \u0938\u0915\u0947\u0917\u093e\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u092e\u0948\u0902\u0928\u0947 BPCL \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u20b9649 \u092a\u0930 \u0916\u0930\u0940\u0926\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u092e\u0947\u0930\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u092e\u0947\u0930\u0947 \u0930\u093f\u0938\u094d\u0915 \u0915\u0940 \u0915\u094b\u0908 \u0938\u0940\u092e\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u092e\u0948\u0902\u0928\u0947 \u092f\u0939 \u0915\u0939\u093e \u0915\u093f \u092e\u0947\u0930\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u20b9640 \u0915\u093e \u0939\u0948 \u0924\u094b \u092e\u0948\u0902 \u20b99 \u0915\u093e \u0939\u0940 \u0930\u093f\u0938\u094d\u0915 \u0932\u0947 \u0930\u0939\u093e \u0939\u0942\u0902\u0964 \u091c\u0948\u0938\u0947 \u0939\u0940 BPCL \u20b9640 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a\u0947\u0917\u093e \u092e\u0948\u0902 \u0905\u092a\u0928\u093e \u092a\u094b\u091c\u0940\u0936\u0928 \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930 \u0926\u0942\u0902\u0917\u093e \u0914\u0930 \u0928\u0941\u0915\u0938\u093e\u0928 \u0938\u0939 \u0932\u0942\u0902\u0917\u093e\u0964 RMS \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092c\u0939\u0941\u0924 \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0924\u094b \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0914\u0930 \u0938\u092e\u092f \u0905\u0935\u0927\u093f \u0926\u094b\u0928\u094b\u0902 \u092c\u0939\u0941\u0924 \u0939\u0940 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0938\u0938\u0947 RMS \u0915\u094b \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u093f\u0924\u0928\u093e \u0930\u093f\u0938\u094d\u0915 \u0909\u0920\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0907\u0938\u0915\u093e \u0915\u094d\u092f\u093e \u092e\u0939\u0924\u094d\u0935 \u0939\u0948?", "\u0906\u092a \u091c\u093f\u0924\u0928\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u091c\u093e\u0928\u0915\u093e\u0930\u0940 RMS \u0915\u094b \u0926\u0947\u0902\u0917\u0947 \u0909\u0924\u0928\u093e \u0939\u0940 \u0915\u092e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0926\u0947\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0939\u094b\u0917\u0940\u0964", "\u0907\u0938\u0947 \u090f\u0915 \u0914\u0930 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0938\u092e\u091d\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u092e\u0948\u0902 \u090f\u0915 \u0907\u0932\u0947\u0915\u094d\u091f\u094d\u0930\u0949\u0928\u093f\u0915 \u0915\u0940 \u0926\u0941\u0915\u093e\u0928 \u092e\u0947\u0902 \u091c\u093e\u0924\u093e \u0939\u0942\u0902 \u0914\u0930 \u091f\u0947\u0932\u0940\u0935\u093f\u091c\u0928 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092a\u0942\u091b\u0924\u093e \u0939\u0942\u0902, \u0910\u0938\u0947 \u092e\u0947\u0902 \u0926\u0941\u0915\u093e\u0928\u0926\u093e\u0930 \u0915\u094d\u092f\u093e \u0915\u0930\u0947\u0917\u093e? \u090f\u0915 \u0915\u0940\u092e\u0924 \u092c\u0924\u093e \u0926\u0947\u0917\u093e \u091c\u0948\u0938\u0947 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0926\u0942\u0938\u0930\u0947 \u0917\u094d\u0930\u093e\u0939\u0915 \u0915\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u0917\u0930 \u092e\u0948\u0902 \u0909\u0938\u0947 \u092c\u0924\u093e\u090a\u0902 \u0915\u093f \u092e\u0941\u091d\u0947 50 \u091f\u0947\u0932\u0940\u0935\u093f\u091c\u0928 \u0916\u0930\u0940\u0926\u0928\u0947 \u0939\u0948\u0902 \u0924\u094b \u0926\u0941\u0915\u093e\u0928\u0926\u093e\u0930 \u090f\u0915 \u0928\u0908 \u0915\u0940\u092e\u0924 \u092c\u0924\u093e\u090f\u0917\u093e \u091c\u094b \u0915\u093f \u092a\u0939\u0932\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0938\u0947 \u0915\u092e \u0939\u094b\u0917\u0940\u0964 \u0905\u0917\u0930 \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u092e\u0947\u0902 \u0909\u0938\u0947 \u092f\u0939 \u092d\u0940 \u092c\u0924\u093e\u090a\u0902 \u0915\u093f \u092e\u0948\u0902 \u0915\u0948\u0936 \u0932\u0947\u0915\u0930 \u0906\u092f\u093e \u0939\u0942\u0902 \u0914\u0930 \u092f\u0939 \u0905\u092d\u0940 \u0924\u0941\u0930\u0902\u0924 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0935\u0939 \u0915\u0940\u092e\u0924 \u0914\u0930 \u0917\u093f\u0930\u093e \u0926\u0947\u0964 \u092e\u0924\u0932\u092c \u092f\u0939 \u0915\u093f \u0906\u092a \u091c\u0948\u0938\u0947-\u091c\u0948\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0935\u0948\u0938\u0947 \u0935\u0948\u0938\u0947 \u0938\u094c\u0926\u093e \u0915\u0930\u0928\u093e \u091c\u094d\u092f\u093e\u0926\u093e \u0906\u0938\u093e\u0928 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0906\u092a\u0915\u094b \u0905\u091a\u094d\u091b\u0940 \u0915\u0940\u092e\u0924 \u092e\u093f\u0932 \u092a\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0924\u094b \u0905\u092c \u0939\u092e \u0938\u092e\u091d \u091a\u0941\u0915\u0947 \u0939\u0948\u0902 \u0915\u093f RMS \u0915\u0947 \u092a\u093e\u0938 \u091c\u093f\u0924\u0928\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u094b\u0917\u0940 \u0909\u0924\u0928\u093e \u0939\u0940 \u0915\u092e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0932\u0917\u0947\u0917\u0940\u0964 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u092e \u0926\u0947\u0928\u093e \u092a\u0921\u093c\u0947 \u0924\u094b \u0906\u092a \u0905\u092a\u0928\u0940 \u092a\u0942\u0902\u091c\u0940 \u0915\u093e \u092c\u0947\u0939\u0924\u0930 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u092a\u093e\u090f\u0902\u0917\u0947\u0964 \u0924\u094b \u0905\u092c \u0905\u0917\u0932\u093e \u0938\u0935\u093e\u0932 \u092f\u0939\u0940 \u0939\u0948 \u0915\u093f \u0915\u094d\u092f\u093e \u0910\u0938\u093e \u0915\u094b\u0908 \u0924\u0930\u0940\u0915\u093e \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0906\u092a RMS\u00a0 \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u091c\u094d\u092f\u093e\u0926\u093e \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947 \u0938\u0915\u0947\u0902? \u0907\u0938\u0915\u093e \u091c\u0935\u093e\u092c \u0939\u0948, \u0939\u093e\u0902\u0964 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0908 \u0916\u093e\u0938 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u092e\u094c\u091c\u0942\u0926 \u0939\u0948\u0902 \u091c\u094b \u0907\u0938\u0940 \u0932\u093f\u090f \u092c\u0928\u093e\u090f \u0917\u090f \u0939\u0948\u0902\u0964 \u091c\u092c \u0906\u092a \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u092f\u093e \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u0905\u092a\u0928\u093e \u0906\u0930\u094d\u0921\u0930 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902 \u0906\u092a \u0907\u0928\u092e\u0947\u0902 \u0938\u0947 \u0915\u094b\u0908 \u090f\u0915 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u091a\u0941\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0939\u0930 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u090f\u0915 \u0926\u0942\u0938\u0930\u0947 \u0938\u0947 \u0905\u0932\u0917 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u094b RMS \u0915\u094b \u0905\u0932\u0917 \u0905\u0932\u0917 \u0924\u0930\u0940\u0915\u0947 \u0915\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f \u0938\u093e\u0930\u0947 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u092e\u0941\u0916\u094d\u092f\u0924: \u090f\u0915 \u0939\u0940 \u0915\u093e\u092e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0932\u0947\u0915\u093f\u0928 \u0939\u0930 \u092c\u094d\u0930\u094b\u0915\u0930 \u0907\u0928 \u0915\u094b \u0905\u0932\u0917 \u0905\u0932\u0917 \u0928\u093e\u092e \u0938\u0947 \u092a\u0941\u0915\u093e\u0930\u0924\u093e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u091c\u0947\u0930\u094b\u0927\u093e \u0915\u0947 \u0907\u0928 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0942\u0902\u0917\u093e\u0964 \u0905\u0917\u0930 \u0906\u092a \u0915\u093f\u0938\u0940 \u0926\u0942\u0938\u0930\u0947 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u0947 \u091c\u0930\u093f\u090f \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0947 \u092c\u094d\u0930\u094b\u0915\u0930 \u0938\u0947 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0932\u0947\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964", "NRML \u2013 \u092f\u0939 \u0938\u092c\u0938\u0947 \u0938\u0940\u0927\u093e \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0939\u0948\u0964 \u091c\u092c \u0906\u092a \u0905\u092a\u0928\u0947 \u0938\u094c\u0926\u0947 \u0915\u094b \u0939\u094b\u0932\u094d\u0921 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0907\u0938 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f NRML \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0930\u093f\u0938\u094d\u0915 \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u0915\u094b\u0908 \u0905\u0924\u093f\u0930\u093f\u0915\u094d\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0928\u0939\u0940\u0902 \u092e\u093f\u0932\u0924\u0940 \u0915\u093f \u0906\u092a \u0907\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0915\u092c \u0924\u0915 \u092c\u0928\u0947 \u0930\u0939\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902, \u0928\u093e \u0939\u0940 \u092f\u0947 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948 \u0915\u093f \u0906\u092a\u0928\u0947 \u0905\u092a\u0928\u093e \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u094d\u092f\u093e \u0930\u0916\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0924\u093e \u0939\u0948 \u0924\u094b \u0906\u092a \u0914\u0930 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092e\u0928\u0940 \u0921\u093e\u0932 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u091a\u0942\u0902\u0915\u093f \u0907\u0938\u092e\u0947\u0902 RMS \u0915\u094b \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u092e \u092e\u093f\u0932\u0924\u0940 \u0939\u0948 \u0907\u0938\u0940\u0932\u093f\u090f RMS \u0938\u093f\u0938\u094d\u091f\u092e NRML \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0906\u092a \u0938\u0947 \u092a\u0942\u0930\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0935\u0938\u0942\u0932\u0924\u093e \u0939\u0948 (\u0938\u094d\u092a\u0948\u0928 + \u090f\u0915\u094d\u0938\u094d\u092a\u094b\u091c\u093c\u0930)", "\u0906\u092a NRML \u0938\u094c\u0926\u0947 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0924\u092c \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u0906\u092a \u0905\u092a\u0928\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0915\u0908 \u0926\u093f\u0928\u094b\u0902 \u0924\u0915 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f NRML \u0938\u094c\u0926\u094b\u0902 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b (MIS) \u2013 \u091c\u0947\u0930\u094b\u0927\u093e \u0915\u0947 \u092a\u094d\u0932\u0947\u091f\u092b\u093e\u0930\u094d\u092e \u092a\u0930 MIS \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0938\u094c\u0926\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092c\u0928\u093e\u092f\u093e \u0917\u092f\u093e \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0939\u0948\u0964 \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 MIS \u0915\u094b \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u091a\u0941\u0928\u093e \u0939\u0948 \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u093e \u0938\u094c\u0926\u093e 1 \u0926\u093f\u0928 \u0915\u093e \u0939\u0940 \u0939\u0948\u0964 \u0905\u0917\u0930 \u0906\u092a \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u0932\u0947 \u091c\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a MIS \u0928\u0939\u0940\u0902 \u091a\u0941\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u094b \u0909\u0938\u0940 \u0926\u093f\u0928 \u0936\u093e\u092e 3 \u092c\u091c \u0915\u0930 20 \u092e\u093f\u0928\u091f \u0915\u0947 \u092a\u0939\u0932\u0947 \u0905\u092a\u0928\u0947 \u0938\u094c\u0926\u0947 \u0915\u094b \u0915\u093e\u091f\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0905\u0917\u0930 \u0906\u092a \u0910\u0938\u093e \u0928\u0939\u0940\u0902 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b RMS \u0938\u093f\u0938\u094d\u091f\u092e \u0905\u092a\u0928\u0947 \u0906\u092a \u092f\u0939 \u0915\u093e\u092e \u0915\u0930 \u0926\u0947\u0917\u093e\u0964", "\u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 RMS \u0915\u094b \u092a\u0924\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0939 \u090f\u0915 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0938\u094c\u0926\u093e \u0939\u0948 \u0924\u094b \u0909\u0938\u0915\u094b \u092f\u0939 \u092d\u0940 \u092a\u0924\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0907\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0935\u094b\u0932\u0948\u091f\u093f\u0932\u093f\u091f\u0940 \u0915\u0947 \u0932\u093f\u090f \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u0926\u093f\u0928 \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f NRML \u0938\u094c\u0926\u0947 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0938\u094c\u0926\u094b\u0902 (MIS) \u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u092e \u0932\u0917\u0924\u0940 \u0939\u0948\u0964", "\u0915\u0935\u0930 \u0911\u0930\u094d\u0921\u0930 (CO) \u2013 MIS \u0915\u0940 \u0924\u0930\u0939 \u0915\u0935\u0930 \u0911\u0930\u094d\u0921\u0930 \u092d\u0940 \u090f\u0915 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0939\u0948\u0964 \u0905\u0902\u0924\u0930 \u0938\u093f\u0930\u094d\u092b \u0907\u0924\u0928\u093e \u0939\u0948 \u0915\u093f \u0915\u0935\u0930 \u0911\u0930\u094d\u0921\u0930 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u092d\u0940 \u092c\u0924\u093e\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 CO \u0911\u0930\u094d\u0921\u0930 \u0906\u092a\u0915\u0947 \u0938\u094c\u0926\u0947 \u0915\u0940 \u0926\u094b \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u0926\u0947\u0924\u093e \u0939\u0948\u2013", "\u090f\u0915 CO \u0915\u093e \u0938\u094d\u0915\u094d\u0930\u0940\u0928\u0936\u0949\u091f \u0926\u0947\u0916\u0947\u0902", "", "\u0907\u0938 \u0938\u094d\u0915\u094d\u0930\u0940\u0928\u0936\u0949\u091f \u092e\u0947\u0902 \u0915\u093e\u0932\u0947 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u090f \u0939\u0941\u090f \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u092f\u0939 \u092c\u0924\u093e\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u093f\u0924\u0928\u093e \u0939\u0948\u0964 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u091f\u0930\u094d\u092e\u093f\u0928\u0932 \u092e\u0947\u0902 CO \u0911\u0930\u094d\u0921\u0930 \u0915\u0948\u0938\u0947 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0907\u0938 \u0932\u0947\u0916 \u0915\u094b \u0926\u0947\u0916\u0947\u0902\u0964 (article\u00a0in\u00a0z-connect.\u00a0\u00a0)", "\u0906\u092a\u0915\u094b \u092f\u0939 \u092f\u093e\u0926 \u0930\u0916\u0928\u093e \u0939\u0948 \u0915\u093f \u091c\u092c \u0906\u092a CO \u092e\u0947\u0902 \u0911\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a \u092f\u0939 \u092c\u0924\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f \u092f\u0939 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0938\u094c\u0926\u093e \u0939\u0948 \u0914\u0930 \u0938\u093e\u0925 \u0939\u0940 \u0906\u092a \u092f\u0939 \u092d\u0940 \u092c\u0924\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f \u0906\u092a \u091c\u094d\u092f\u093e\u0926\u093e \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0915\u093f\u0924\u0928\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0938\u0939\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940 \u0935\u091c\u0939 \u0938\u0947 RMS \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u0906\u092a\u0938\u0947 \u0915\u092e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0932\u0947\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 MIS \u0911\u0930\u094d\u0921\u0930 \u0915\u0940 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0938\u0947 \u092d\u0940 \u0915\u092e \u0939\u094b\u0924\u0940 \u0939\u0948\u0964", "\u092c\u094d\u0930\u0948\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 (BO) \u2013 \u00a0\u092c\u094d\u0930\u0948\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 \u0905\u0938\u0932 \u092e\u0947\u0902 \u0915\u0935\u0930 \u0911\u0930\u094d\u0921\u0930 \u0915\u093e \u0939\u0940 \u0938\u0941\u0927\u0930\u093e \u0939\u0941\u0906 \u0930\u0942\u092a \u0939\u0948\u0964 \u092f\u0939 \u092d\u0940 \u090f\u0915 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0939\u0948 \u092e\u0924\u0932\u092c \u092f\u0939\u093e\u0902 \u092d\u0940 \u0906\u092a\u0915\u094b \u0936\u093e\u092e 3:20 \u092c\u091c\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0905\u092a\u0928\u093e \u0938\u094c\u0926\u093e \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 BO \u0915\u093e \u0938\u094c\u0926\u093e \u0921\u093e\u0932\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0906\u092a\u0915\u094b \u0915\u0941\u091b \u0914\u0930 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u0926\u0947\u0928\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902\u2013", "BO \u0915\u0947 \u0911\u0930\u094d\u0921\u0930 \u092e\u0947\u0902 \u0906\u092a \u091c\u092c \u0938\u094c\u0926\u093e \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0938\u093e\u0925 \u0939\u0940 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u094b \u092f\u0939 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092d\u0940 \u0926\u0947 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0906\u092a\u0915\u093e \u091f\u093e\u0930\u0917\u0947\u091f \u0915\u094d\u092f\u093e \u0939\u0948 \u0914\u0930 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u094d\u092f\u093e \u0939\u0948\u0964 \u0915\u093f\u0938\u0940 \u092d\u0940 \u090f\u0915\u094d\u091f\u093f\u0935 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u092f\u0939 \u090f\u0915 \u092c\u0939\u0941\u0924 \u092c\u0921\u093c\u0940 \u0938\u0941\u0935\u093f\u0927\u093e \u0939\u0948\u0964 BO \u0915\u093e \u0938\u094c\u0926\u093e \u0915\u0948\u0938\u0947 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u0907\u0938 \u0932\u0947\u0916 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 (\u00a0article)", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 BO \u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u092b\u0949\u0930\u094d\u092e \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u0939\u0930\u0947 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u090f \u0939\u0941\u090f \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0932\u0917\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "", "\u0905\u0917\u0930 \u0906\u092a \u0927\u094d\u092f\u093e\u0928 \u0938\u0947 \u0926\u0947\u0916\u0947\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u092e\u0947\u0902 \u0906\u090f\u0917\u093e \u0915\u093f \u092c\u094d\u0930\u0948\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 RMS \u0915\u094b \u0935\u0939 \u0938\u093e\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0924\u093e \u0939\u0948 \u091c\u094b CO \u092e\u0947\u0902 \u0926\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u091f\u094d\u0930\u0947\u0921\u0930 \u092f\u0939 \u092d\u0940 \u092c\u0924\u093e \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u0909\u0938\u0915\u093e \u091f\u093e\u0930\u0917\u0947\u091f \u0915\u094d\u092f\u093e \u0939\u0948? \u0935\u0948\u0938\u0947 \u091f\u093e\u0930\u0917\u0947\u091f \u091c\u093e\u0928 \u0915\u0930 RMS \u0915\u094b \u0915\u094b\u0908 \u0916\u093e\u0938 \u092b\u093e\u092f\u0926\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f RMS \u0906\u092a\u0915\u0940 \u0930\u093f\u0938\u094d\u0915 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948, \u0906\u092a\u0915\u094b \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u092e\u0941\u0928\u093e\u092b\u0947 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902\u0964 \u0907\u0938\u0940\u0932\u093f\u090f BO \u0914\u0930 CO \u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u090f\u0915 \u092c\u0930\u093e\u092c\u0930 \u0939\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0905\u092c \u090f\u0915 \u092c\u093e\u0930 \u092b\u093f\u0930 \u0939\u092e \u091c\u0947\u0930\u094b\u0927\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u092a\u0930 \u092e\u094c\u091c\u0942\u0926 \u0915\u0941\u091b \u0914\u0930 \u092b\u0940\u091a\u0930\u094d\u0938 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0939\u092e\u0928\u0947 \u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u091c\u093c\u0947\u0930\u094b\u0927\u093e \u0915\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0940 \u0925\u0940\u0964 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0915\u093e \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u093e \u092b\u093e\u092f\u0926\u093e \u092f\u0939 \u0939\u0948 \u0915\u093f \u0915\u094b\u0908 \u092d\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 \u092f\u0939 \u092a\u0924\u093e \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0909\u0938\u0915\u094b \u0905\u092a\u0928\u0947 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u0924\u0928\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0926\u0947\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e\u0964 \u0907\u0938\u0940 \u092c\u0939\u093e\u0928\u0947 \u0939\u092e\u0928\u0947 \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940 \u0930\u094b\u0932 \u0913\u0935\u0930 \u0938\u094d\u092a\u094d\u0930\u0947\u0921 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u091c\u0948\u0938\u0947 \u0926\u0942\u0938\u0930\u0947 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092d\u0940 \u0938\u092e\u091d \u0932\u093f\u092f\u093e \u0939\u0948\u0964 \u0905\u092c \u0939\u092e \u092f\u0939 \u092d\u0940 \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f RMS \u0938\u093f\u0938\u094d\u091f\u092e \u0915\u094b \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u0915\u0948\u0938\u0947 \u0926\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0938\u0915\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092a\u0930 \u0915\u0948\u0938\u093e \u0905\u0938\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0928 \u0938\u092c \u0915\u094b \u0927\u094d\u092f\u093e\u0928 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0905\u092c \u0939\u092e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u092e\u0947\u0902 \u0926\u093f\u090f \u0917\u090f \u0926\u094b \u0914\u0930 \u0935\u093f\u0915\u0932\u094d\u092a\u094b\u0902 \u0915\u0940 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u2013\u201c\u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938\u201d \u0914\u0930 \u201cBO &CO\u201d \u0964 \u0928\u0940\u091a\u0947 \u0915\u0947 \u0938\u094d\u0915\u094d\u0930\u0940\u0928\u0936\u0949\u091f \u092e\u0947\u0902 \u0907\u0928\u0915\u094b \u0932\u093e\u0932 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u2013 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0938\u0947\u0915\u094d\u0936\u0928 \u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0930\u0947\u0921\u0940 \u0930\u0947\u0915\u0928\u0930 (Ready reckoner) \u092f\u093e\u0928\u0940 \u090f\u0915 \u0924\u0948\u092f\u093e\u0930 \u0939\u0948\u0902\u0921\u092c\u0941\u0915 \u0915\u0940 \u0924\u0930\u0939 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0915\u093f\u0938\u0940 \u092d\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0928\u093f\u092e\u094d\u0928 \u091a\u0940\u091c\u0947\u0902 \u0938\u092e\u091d\u0928\u0947 \u0915\u093e \u092e\u094c\u0915\u093e \u0926\u0947\u0924\u093e \u0939\u0948:", "\u091c\u0928\u0935\u0930\u0940 2015 \u0924\u0915 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0935\u093e\u0932\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 475 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u094c\u091c\u0942\u0926 \u0925\u0947\u0964 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0935\u093e\u0932\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u0915\u094b \u0914\u0930 \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u091b \u0905\u092d\u094d\u092f\u093e\u0938 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0928 \u0905\u092d\u094d\u092f\u093e\u0938\u094b\u0902 \u0915\u094b \u0939\u092e \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0915\u0947 \u091c\u0930\u093f\u090f \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0906\u092a \u0907\u0938 \u0939\u093f\u0938\u094d\u0938\u0947 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u092c\u0947\u0939\u0924\u0930 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0938\u092e\u091d \u092a\u093e\u090f\u0902\u0917\u0947\u0964", "\u0905\u092d\u094d\u092f\u093e\u0938 1\u2013 \u00a0\u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u20b980000 \u0939\u0948\u0902\u0964 \u0935\u094b ACC \u0938\u0940\u092e\u0947\u0902\u091f \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u093e 26 \u092b\u0930\u0935\u0930\u0940 2015 \u0915\u0940 \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940 \u0935\u093e\u0932\u093e \u0915\u093e \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b 3 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u0947\u0936\u0928 \u0924\u0915 \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948\u0964 \u092a\u0924\u093e \u0915\u0930\u0947\u0902 \u0915\u093f \u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u0924\u0928\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u092a\u0921\u093c\u0947\u0917\u0940? \u0935\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u091c\u0928\u0935\u0930\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092d\u0940 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u0947 \u0935\u0939 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0915\u0947 \u0932\u093f\u090f \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0915\u093f\u0924\u0928\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u092a\u0921\u093c\u0947\u0917\u0940? \u0915\u094d\u092f\u093e \u0909\u0938\u0915\u0947 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0907\u0924\u0928\u0947 \u092a\u0948\u0938\u0947 \u0939\u0948\u0902 \u0915\u093f \u0935\u0939 \u0926\u094b\u0928\u094b\u0902 \u0938\u094c\u0926\u0947 \u090f\u0915 \u0938\u093e\u0925 \u0915\u0930 \u0938\u0915\u0947\u0964", "\u0909\u0924\u094d\u0924\u0930 \u2013 \u092a\u0939\u0932\u0947 ACC \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0947 \u092e\u093e\u092e\u0932\u0947 \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902, \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u0907\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b 3 \u0926\u093f\u0928\u094b\u0902 \u0924\u0915 \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948 \u0924\u094b \u0939\u092e\u0947\u0902 NRML \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0935\u0948\u0938\u0947 \u0924\u094b \u0939\u092e \u092f\u0939 \u0915\u093e\u092e \u0938\u094d\u092a\u0948\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0915\u0947 \u091c\u0930\u093f\u090f \u092d\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0939\u092e\u0928\u0947 \u0909\u0938\u0947 \u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0926\u0947\u0916\u093e \u092d\u0940 \u0925\u093e\u0964 \u0932\u0947\u0915\u093f\u0928 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u092e\u0947\u0902 \u0915\u0941\u091b \u0905\u0924\u093f\u0930\u093f\u0915\u094d\u0924 \u0938\u0941\u0935\u093f\u0927\u093e\u090f\u0902 \u0939\u0948\u0902 \u091c\u094b \u0915\u093f \u0938\u094d\u092a\u0948\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u0939\u0948, \u0907\u0938\u0940\u0932\u093f\u090f \u0939\u092e \u0907\u0938\u0947 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0947 \u091c\u0930\u093f\u090f \u0926\u0947\u0916\u0947\u0902\u0917\u0947\u0964", "\u091c\u092c \u0906\u092a \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u091c\u093e\u090f\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u0935\u0939\u093e\u0902 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0928\u091c\u0930 \u0906\u090f\u0902\u0917\u0947\u0964 \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0947 \u0915\u093e\u092e \u0915\u093e \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0916\u094b\u091c\u0928\u093e \u0939\u094b\u0917\u093e\u0964 ACC \u0915\u094b \u092e\u0948\u0902\u0928\u0947 \u092f\u0939\u093e\u0902 \u0939\u0930\u0947 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0939\u0948\u0964 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0907\u0938 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u092e\u0947\u0902 \u0907\u0928 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0940 \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940, \u0932\u0949\u091f \u0938\u093e\u0907\u091c \u0914\u0930 \u0915\u0940\u092e\u0924 \u092d\u0940 \u092c\u0924\u093e\u0908 \u0917\u0908 \u0939\u0948\u0964", "\u0915\u093e\u0932\u0947 \u0930\u0902\u0917 \u0915\u0947 \u092c\u0949\u0915\u094d\u0938 \u092e\u0947\u0902 \u092e\u0948\u0902\u0928\u0947 \u0907\u0938\u0915\u0940 NRML \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092d\u0940 \u0926\u093f\u0916\u093e\u0908 \u0939\u0948\u0964", "", "\u090a\u092a\u0930 \u0915\u0947 \u0938\u094d\u0915\u094d\u0930\u0940\u0928\u0936\u0949\u091f \u0938\u0947 \u092f\u0939 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f ACC \u00a0\u0915\u0947 \u092b\u0930\u0935\u0930\u0940 2015 \u0915\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u20b948686 \u0915\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u092a\u0921\u093c\u0947\u0917\u0940\u0964", "\u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092a\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092e\u0941\u091d\u0947 \u0907\u0902\u092b\u094b\u0938\u093f\u0938 \u0915\u093e \u091c\u0928\u0935\u0930\u0940 \u0915\u093e \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0932\u093f\u0938\u094d\u091f \u092e\u0947\u0902 \u0916\u094b\u091c\u0928\u093e \u0939\u094b\u0917\u093e\u0964\u0935\u0948\u0938\u0947 \u092e\u0948\u0902 \u0905\u092a\u0928\u0947 \u0938\u0930\u094d\u091a \u092c\u0949\u0915\u094d\u0938 \u092e\u0947\u0902 infy \u091f\u093e\u0907\u092a \u0915\u0930\u0915\u0947 \u092d\u0940 \u0909\u0938\u0915\u094b \u0916\u094b\u091c \u0938\u0915\u0924\u093e \u0939\u0942\u0902\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u093f\u0938\u0940 \u0915\u093e NRML \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u20b967698 \u0939\u0948 (\u0907\u0938\u0947 \u0915\u093e\u0932\u0947 \u0930\u0902\u0917 \u0915\u0947 \u0924\u0940\u0930 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948)\u0964 MIS \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u20b927079 \u0939\u0948 (\u0932\u093e\u0932 \u0930\u0902\u0917 \u0915\u0947 \u0924\u0940\u0930 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948)\u0964 \u0924\u094b \u0938\u093e\u092b \u0939\u0948 \u0915\u093f MIS \u092e\u093e\u0930\u094d\u091c\u093f\u0928 NRML \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0938\u0947 \u0915\u093e\u092b\u0940 \u0915\u092e \u0939\u0948\u0964", "", "\u092f\u0939 \u0938\u094c\u0926\u093e \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0915\u093e \u0939\u0948 \u0907\u0938\u0932\u093f\u090f \u0915\u094b\u0908 \u092d\u0940 \u091f\u094d\u0930\u0947\u0921\u0930 MIS \u0915\u094b \u091a\u0941\u0928\u0915\u0930 \u0915\u092e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0947 \u0938\u093e\u0925 \u092f\u0939 \u0938\u094c\u0926\u093e \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0935\u0948\u0938\u0947 \u0924\u094b \u092f\u0939 \u0938\u094c\u0926\u093e NRML \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0947 \u0938\u093e\u0925 \u092d\u0940 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u092a\u0930 \u0906\u092a\u0915\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0930\u0915\u092e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0932\u0949\u0915 \u0939\u094b \u091c\u093e\u090f\u0917\u0940\u0964 \u0907\u0938\u0932\u093f\u090f \u0905\u0917\u0930 \u0906\u092a\u0915\u093e \u0926\u093f\u092e\u093e\u0917 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u092f\u0939 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0938\u094c\u0926\u093e \u0939\u0948 \u0924\u094b \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0917\u093e \u0915\u093f MIS \u0915\u0947 \u091c\u0930\u093f\u090f \u0939\u0940 \u0938\u094c\u0926\u093e \u0915\u093f\u092f\u093e \u091c\u093e\u090f\u0964", "\u0924\u094b \u0905\u092c \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0915\u0941\u0932 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0939\u094b\u0917\u0940 :", "\u0905\u092c \u091a\u0942\u0902\u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u20b980000 \u0939\u0948\u0902 \u0907\u0938\u0932\u093f\u090f \u0935\u0939 \u092f\u0939 \u0926\u094b\u0928\u094b\u0902 \u0938\u094c\u0926\u0947 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0905\u092d\u094d\u092f\u093e\u0938 2 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u20b9120000 \u0939\u0948\u0902\u0964 \u0935\u094b \u0935\u093f\u092a\u094d\u0930\u094b \u0915\u0947 \u091c\u0928\u0935\u0930\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0947 \u0915\u093f\u0924\u0928\u0947 \u0932\u0949\u091f \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0915\u0947 \u0932\u093f\u090f \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u093e \u0939\u0948? \u0905\u0917\u0930 \u092f\u0939\u0940 \u0938\u094c\u0926\u093e \u0915\u0908 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0915\u0930\u0928\u093e \u0939\u0948 \u0924\u094b \u0935\u094b \u0915\u093f\u0924\u0928\u0947 \u0932\u0949\u091f \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u093e \u0939\u0948?", "\u0909\u0924\u094d\u0924\u0930 \u2013 \u0938\u0930\u094d\u091a \u092c\u0949\u0915\u094d\u0938 \u092e\u0947\u0902 \u0935\u093f\u092a\u094d\u0930\u094b \u0915\u094b \u0916\u094b\u091c\u093f\u090f\u0964 MIS \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0935\u093e\u0932\u0947 \u0915\u0949\u0932\u092e \u0915\u0947 \u092c\u0917\u0932 \u092e\u0947\u0902 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f \u0915\u093e \u0935\u093f\u0915\u0932\u094d\u092a \u0926\u093f\u092f\u093e \u0939\u0948 (\u0939\u0930\u0947 \u0930\u0902\u0917 \u0915\u0947 \u0924\u0940\u0930 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948)\u0964 \u0909\u0938\u0915\u094b \u0915\u094d\u0932\u093f\u0915 \u0915\u0940\u091c\u093f\u090f\u0964", "", "\u091c\u092c \u0906\u092a \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f \u0915\u094b \u0915\u094d\u0932\u093f\u0915 \u0915\u0930\u0947\u0902\u0917\u0947 \u0924\u094b \u090f\u0915 \u0928\u0908 \u0935\u093f\u0902\u0921\u094b \u0916\u0941\u0932\u0947\u0917\u0940\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u0906\u092a\u0915\u094b \u092f\u0939 \u092d\u0930\u0928\u093e \u0939\u0948\u2013", "\u0905\u092c \u0907\u0938 \u0938\u094d\u0915\u094d\u0930\u0940\u0928 \u0936\u0949\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f\u2013", "", "\u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u092c\u0924\u093e \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u092e\u0948\u0902 \u0935\u093f\u092a\u094d\u0930\u094b \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092a\u0930 \u0907\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0947 \u0924\u0940\u0928 \u0932\u0949\u091f NRML \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0915\u0947 \u0924\u0939\u0924 \u092d\u0940 \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u093e \u0939\u0942\u0902\u0964 NRML \u092e\u0947\u0902 \u0907\u0938\u0915\u0940 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0939\u094b\u0917\u0940 \u20b936806 \u092a\u094d\u0930\u0924\u093f \u0932\u0949\u091f\u0964 MIS \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092d\u0940 \u092e\u0948\u0902 8 \u0932\u0949\u091f \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u0935\u0939\u093e\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0939\u0948 \u0938\u093f\u0930\u094d\u092b \u20b914722 \u092a\u094d\u0930\u0924\u093f \u0932\u0949\u091f\u0964", "\u0905\u092c \u0906\u092a \u0915\u094b \u0938\u093e\u092b \u0939\u094b \u0917\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u0940 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0938\u0947\u0915\u094d\u0936\u0928 \u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0915\u0948\u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u0939\u092e BO&CO \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947\u0964", "\u092c\u094d\u0930\u0948\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 \u0914\u0930 \u0915\u0935\u0930 \u0911\u0930\u094d\u0921\u0930 \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u090f\u0915 \u091c\u0948\u0938\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948, \u092f\u0947 \u0939\u092e \u092a\u0939\u0932\u0947 \u0938\u0947 \u0939\u0940 \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902\u0964 BO&CO \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093e\u092b\u0940 \u0906\u0938\u093e\u0928 \u0939\u0948 \u092f\u0939 \u0932\u0917\u092d\u0917 \u0935\u0948\u0938\u093e \u0939\u0940 \u0939\u0948 \u091c\u0948\u0938\u093e \u0938\u094d\u092a\u0948\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0928\u0940\u091a\u0947 \u0915\u0947 \u0938\u094d\u0928\u0948\u092a\u0936\u0949\u091f \u092e\u0947\u0902 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092e\u0948\u0902 \u092c\u093e\u092f\u094b\u0915\u0949\u0928 \u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930 \u0930\u0939\u093e \u0939\u0942\u0902 \u091c\u093f\u0938\u0915\u0940 \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940 \u092b\u0930\u0935\u0930\u0940 2015 \u0915\u0940 \u0939\u0948\u0964 \u0906\u092a \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u093f \u092e\u0948\u0902\u0928\u0947 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0939\u0930 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0940 \u0939\u0948\u0964", "", "\u092c\u093f\u0928\u093e \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u092c\u0924\u093e\u090f \u091c\u092c \u092e\u0948\u0902 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f \u0915\u093e \u092c\u091f\u0928 \u0926\u092c\u093e\u0924\u093e \u0939\u0942\u0902 \u0924\u094b \u092f\u0939 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0905\u092a\u0928\u0947 \u0906\u092a \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u090f\u0915 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0915\u094b \u0906\u092a \u091a\u093e\u0939\u0947\u0902 \u0924\u094b \u091a\u0941\u0928 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0938\u093e\u0925 \u092c\u0924\u093e\u0908 \u0917\u0908 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u092d\u0940\u0964 \u0932\u0947\u0915\u093f\u0928 \u091c\u092c \u092e\u0948\u0902 \u0905\u092a\u0928\u093e \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u092c\u0924\u093e\u0924\u093e \u0939\u0942\u0902 \u0924\u094b \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0907\u0938 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092b\u093f\u0930 \u0938\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u094b \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f \u0915\u0930\u0924\u093e \u0939\u0948\u0964", "", "BO&CO \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u20b9403 \u0915\u093e \u091a\u0941\u0928\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u091c\u092c \u0906\u092a \u0905\u092a\u0928\u093e \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u092c\u0926\u0932\u0947\u0902\u0917\u0947 \u0924\u094b \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092d\u0940 \u0909\u0938\u0940 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u092c\u0926\u0932\u0947\u0917\u0940\u0964 \u0905\u092d\u0940 \u092b\u093f\u0932\u0939\u093e\u0932 \u092f\u0947 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u20b99062 \u0939\u0948 \u091c\u094b \u0915\u093f NRML \u0915\u0940 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u20b926135 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u0914\u0930 MIS \u0915\u0940 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u20b911545 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u0915\u093e\u092b\u0940 \u0915\u092e \u0939\u0948\u0964", "\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u0915\u094b \u0916\u0924\u094d\u092e \u0915\u0930\u0928\u0947 \u0938\u0947\u00a0 \u092a\u0939\u0932\u0947 \u090f\u0915 \u092c\u093e\u0930 \u0939\u092e \u091f\u094d\u0930\u0947\u0932\u093f\u0902\u0917 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u092a\u0930 \u092d\u0940 \u0928\u091c\u0930 \u0921\u093e\u0932 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u091f\u094d\u0930\u0947\u0932\u093f\u0902\u0917 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u092c\u094d\u0930\u0948\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0940 \u0939\u0948 \u0914\u0930 \u0935\u0948\u0938\u0947 \u092d\u0940 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092f\u0939 \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092d\u0942\u092e\u093f\u0915\u093e \u0905\u0926\u093e \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u0906\u092a \u0907\u0938 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0947\u0902 \u0915\u093f \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u0915\u094b \u091f\u094d\u0930\u0947\u0932 \u0915\u0948\u0938\u0947 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a \u0928\u0947 \u090f\u0915 \u0938\u094d\u091f\u0949\u0915 \u20b9250 \u092a\u0930 \u0916\u0930\u0940\u0926\u093e \u0939\u0948 \u0914\u0930 \u0906\u092a \u0915\u094b \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f \u092f\u0939 \u20b9270 \u0924\u0915 \u091c\u093e\u090f\u0917\u093e\u0964 \u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0928\u0947 \u0905\u092a\u0928\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u20b9240 \u0930\u0916\u093e \u0939\u0948\u0964 \u0906\u092a\u0915\u093e \u0907\u0930\u093e\u0926\u093e \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u092f\u0939 \u0936\u0947\u092f\u0930 \u0928\u0940\u091a\u0947 \u091c\u093e\u0924\u093e \u0939\u0948 \u0924\u094b \u0906\u092a \u20b9240 \u092a\u0930 \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u0915\u0930 \u0907\u0938 \u0938\u094c\u0926\u0947 \u0938\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u0932 \u091c\u093e\u090f\u0902\u0917\u0947\u0964", "\u0932\u0947\u0915\u093f\u0928 \u0938\u094c\u0926\u093e \u0906\u092a\u0915\u0947 \u092e\u0928 \u092e\u0941\u0924\u093e\u092c\u093f\u0915 \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0936\u0947\u092f\u0930 \u092c\u0922\u093c\u0915\u0930 \u20b9265 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u092f\u0939 \u0938\u094d\u091f\u0949\u0915 \u0906\u092a\u0915\u0947 \u091f\u093e\u0930\u0917\u0947\u091f \u20b9270 \u0938\u0947 \u0915\u0941\u091b \u0939\u0940 \u0930\u0941\u092a\u090f \u0926\u0942\u0930 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0935\u094b\u0932\u0948\u091f\u093f\u0932\u093f\u091f\u0940 \u092f\u093e\u0928\u0940 \u0909\u0920\u093e-\u092a\u091f\u0915 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u092f\u0939 \u0928\u0940\u091a\u0947 \u0906\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930\u0924\u093e \u0939\u0948 \u0914\u0930 \u0928\u0940\u091a\u0947 \u0906\u0924\u0947-\u0906\u0924\u0947 \u092f\u0947 \u0906\u092a\u0915\u0947 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u20b9240 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0924\u094b \u0906\u092a\u0915\u094b \u092e\u0941\u0928\u093e\u092b\u093e \u0925\u094b\u0921\u093c\u0940 \u0926\u0947\u0930 \u0915\u0947 \u0932\u093f\u090f \u0926\u093f\u0916\u093e \u091c\u0930\u0942\u0930 \u0932\u0947\u0915\u093f\u0928 \u092f\u0939 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u093e \u0938\u094c\u0926\u093e \u0939\u0941\u0906\u0964 \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0915\u094d\u092f\u093e \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0925\u093e? \u0910\u0938\u093e \u092c\u0939\u0941\u0924 \u092c\u093e\u0930 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u0926\u093f\u0936\u093e \u0915\u094b \u0932\u0947\u0915\u0930 \u0906\u092a\u0915\u0940 \u0930\u093e\u092f \u0938\u0939\u0940 \u0938\u093e\u092c\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u092c\u093e\u091c\u093c\u093e\u0930 \u0915\u0940 \u0909\u0920\u093e\u092a\u091f\u0915 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0906\u092a\u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0910\u0938\u0940 \u0939\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0938\u0947 \u092c\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u0940 \u091f\u094d\u0930\u0947\u0932\u093f\u0902\u0917 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0932\u093f\u0902\u0917 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u0908 \u092c\u093e\u0930 \u0906\u092a\u0915\u094b \u0905\u0928\u0941\u092e\u093e\u0928 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e\u093e \u0915\u0930 \u0926\u0947 \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u092f\u0947 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0938\u0940\u0927\u093e-\u0938\u093e \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092c\u0938 \u0906\u092a\u0915\u094b \u0938\u094d\u091f\u0949\u0915 \u0915\u0947 \u0909\u0924\u093e\u0930-\u091a\u0922\u093c\u093e\u0935 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0905\u092a\u0928\u0947 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u094b \u092c\u0926\u0932\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092e\u0948\u0902 \u0907\u0938\u0915\u094b \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0938\u092e\u091d\u093e\u0924\u093e \u0939\u0942\u0902\u0964", "\u092f\u0939\u093e\u0902 \u092a\u0930 \u20b92175 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0932\u0949\u0928\u094d\u0917 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e\u0928\u0947 \u0914\u0930 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u20b92150 \u092a\u0930 \u0930\u0916\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e \u0939\u0948\u0964 \u0905\u092c \u0939\u092e\u0947\u0902 \u0915\u0930\u0928\u093e \u0938\u093f\u0930\u094d\u092b \u092f\u0939 \u0939\u0948 \u0915\u093f \u091c\u0948\u0938\u0947-\u091c\u0948\u0938\u0947 \u0915\u0940\u092e\u0924 \u0939\u092e\u093e\u0930\u0947 \u0938\u094c\u0926\u0947 \u0915\u0940 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u092c\u0922\u093c\u0924\u0940 \u0939\u0948, \u0935\u0948\u0938\u0947-\u0935\u0948\u0938\u0947 \u0939\u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u094b \u092c\u0926\u0932\u0928\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0939\u0930 15 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0915\u0947 \u092c\u0926\u0932\u093e\u0935 \u092a\u0930 \u0939\u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u094b \u092d\u0940 \u092c\u0926\u0932\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u093f\u0938\u0940 \u092d\u0940 \u091c\u0917\u0939 \u0932\u0917\u093e\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u091c\u0939\u093e\u0902 \u092a\u0930 \u092d\u0940 \u0906\u092a \u0905\u092a\u0928\u0947 \u092e\u0941\u0928\u093e\u092b\u0947 \u0915\u094b \u092c\u093e\u0902\u0927\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0935\u0939\u093e\u0902 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0932\u0917\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u092c \u0906\u092a \u092e\u0941\u0928\u093e\u092b\u093e \u092c\u093e\u0902\u0927\u0928\u0947 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0905\u092a\u0928\u0947 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u094b \u092c\u0926\u0932\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0907\u0938\u0947 \u091f\u094d\u0930\u0947\u0932\u093f\u0902\u0917 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0927\u094d\u092f\u093e\u0928 \u0930\u0916\u093f\u090f \u0915\u093f \u0939\u0930 15 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u0915\u0947 \u092c\u0926\u0932\u093e\u0935 \u092a\u0930 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u092c\u0926\u0932\u0928\u0947 \u0915\u093e \u0928\u093f\u092f\u092e \u0938\u093f\u0930\u094d\u092b \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f \u0932\u093f\u092f\u093e \u0939\u0948\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u0906\u092a \u0907\u0938\u0947 \u0915\u093f\u0938\u0940 \u092d\u0940 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0932\u0917\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0905\u092d\u0940 \u0907\u0938\u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0928\u0940\u091a\u0947 \u0915\u0947 \u091f\u0947\u092c\u0932 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u091c\u0939\u093e\u0902 \u092e\u0948\u0902\u0928\u0947 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u094b \u0939\u0930 15 \u092a\u094d\u0935\u093e\u0907\u0902\u091f \u092a\u0930 \u091f\u094d\u0930\u0947\u0932 \u0915\u0930\u0915\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0915\u0941\u091b \u092e\u0941\u0928\u093e\u092b\u093e \u092c\u093e\u0902\u0927\u093e \u091c\u093e \u0938\u0915\u0947\u0964", "", "\u092f\u0939\u093e\u0902 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u0940 \u092c\u093e\u0924 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0939\u092e\u093e\u0930\u093e \u0936\u0941\u0930\u0942\u0906\u0924\u0940 \u091f\u093e\u0930\u0917\u0947\u091f 2220 \u0915\u093e \u0925\u093e \u0932\u0947\u0915\u093f\u0928 \u091f\u094d\u0930\u0947\u0932\u093f\u0902\u0917 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u00a0\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u092e\u0948\u0902 \u092e\u094b\u092e\u0947\u0902\u091f\u092e \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0909\u0920\u093e\u0915\u0930 \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e\u093e \u0938\u0915\u093e\u0964", "Sir NRML me SL nhi lagta kya", "NRML \u0911\u0930\u094d\u0921\u0930\u094d\u0938 \u092e\u0947\u0902 SL \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u0938\u0915\u0924\u0947, \u095b\u094d\u092f\u093e\u0926\u093e \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u0907\u0938 Zconnect post \u0915\u094b \u092a\u095d \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964\nhttps://zerodha.com/z-connect/tradezerodha/zerodha-trader-software-version/stop-loss-orders-limit-market", "Dear Sir,", "Thanks a lot for this notes.", "Happy Learning \ud83d\ude42", "Welcome, happy learning \ud83d\ude42", "thanks to all of you team varsity", "You\u2019re welcome.", "\u0938\u0930,\n\u0932\u0949\u0902\u0917 \u0915\u0947 \u0932\u093f\u092f\u0947 trilling loss \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u0938\u093e\u0915\u0947\u091f\u0947 \u0939\u094b \u0915\u094d\u092f\u093e ????", "\u0939\u093e\u0901, \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u094b.", "Upar wale ordrer type (NRML,MIS,CO,BO) ka screenshot ko update krna chahiye.", "\u0939\u092e \u0907\u0938 \u092a\u0930 \u0928\u095b\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947\u0964 \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2015/02/M4-Ch7-cartoon.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image1_Product-Type.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image2_MIS.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image3_CO.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image4_BO.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image5_MC.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image6_EQ1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image7_EQInfy.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image8_EQ.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image9_EQ.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image10_BOCO.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image11_Boco.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image12_TSL.jpg", "https://secure.gravatar.com/avatar/f2598e56174de661b27edf18ee33496a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/32664e0290bb823f7ad01790d40db636?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f77c3f8361982099ed9ac6d852b2e2b1?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a1a8903b95ed3aa4a1461e2fc68d56bf?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/41e6b006425a76ae9589b38cb43dbaac?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/d932528ddcb3ce5c293ec0ffdd2feb6f?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u091f\u094d\u0930\u0947\u0921</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0932\u093e\u0901\u0917</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0936\u0947\u092f\u0930</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0907\u0928\u094d\u092b\u094b\u0938\u093f\u0938</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0907\u0928\u094d\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0915\u0940\u092e\u0924</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.2175/-</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u091f\u093e\u0930\u0917\u0947\u091f</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.2220/-</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.2150/-</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0930\u093f\u0938\u094d\u0915</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.25 (2175 \u2013 2150)</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0930\u093f\u0935\u093e\u0930\u094d\u0921</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.45 (2220 \u2013 2175</span></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "8. \u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u0915\u094d\u092f\u093e \u0939\u0948", "text": ["\u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u092f\u093e\u0928\u0940 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u093e \u0915\u094d\u092f\u093e \u0939\u0948 \u0907\u0938\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 1 \u092e\u0947\u0902 \u091b\u094b\u091f\u0940 \u0938\u0940 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0925\u0940\u0964 \u0905\u092c \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092a\u0930 \u0939\u092e \u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0939\u092e\u093e\u0930\u0940 \u0930\u094b\u091c\u092e\u0930\u094d\u0930\u093e \u0915\u0940 \u091c\u093f\u0902\u0926\u0917\u0940 \u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u091c\u0948\u0938\u0940 \u0915\u094b\u0908 \u0926\u0942\u0938\u0930\u0940 \u091a\u0940\u091c \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940 \u0907\u0938\u0932\u093f\u090f \u0907\u0938 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u0925\u094b\u0921\u093c\u093e-\u0938\u093e \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a\u00a0 X \u0915\u0940\u092e\u0924 \u092a\u0930 \u090f\u0915 \u092e\u0915\u093e\u0928 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 2 \u0938\u093e\u0932 \u092c\u093e\u0926 \u0909\u0938\u0940 \u092e\u0915\u093e\u0928 \u0915\u094b Y \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u0947\u091a\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 X \u0914\u0930 Y \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u091c\u094b \u0905\u0902\u0924\u0930 \u0939\u094b\u0917\u093e \u0935\u0939\u0940 \u0906\u092a\u0915\u0940 \u0915\u092e\u093e\u0908 \u0939\u094b\u0917\u0940\u0964 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0939\u092e \u092a\u0939\u0932\u0947 \u0915\u094b\u0908 \u092d\u0940 \u091a\u0940\u091c \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0939\u0940 \u0909\u0938\u0947 \u092b\u093e\u092f\u0926\u0947 \u092f\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u092a\u0930 \u092c\u0947\u091a \u092a\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u092e\u0947\u0902 \u0907\u0938\u0915\u093e \u0920\u0940\u0915 \u0909\u0932\u094d\u091f\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0935\u0939\u093e\u0902 \u0939\u092e \u092a\u0939\u0932\u0947 \u092c\u0947\u091a\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092c\u093e\u0926 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0924\u094b, \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0910\u0938\u093e \u0915\u094d\u092f\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u094b \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u092a\u0939\u0932\u0947 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092a\u094d\u0930\u094b\u0924\u094d\u0938\u093e\u0939\u093f\u0924 \u0915\u0930\u0924\u093e \u0939\u0948? \u0907\u0938\u0915\u093e \u092c\u0939\u0941\u0924 \u0939\u0940 \u0938\u0940\u0927\u093e-\u0938\u093e \u091c\u0935\u093e\u092c \u0939\u0948\u0964 \u091c\u092c \u0939\u092e\u0947\u0902 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u093f\u0938\u0940 \u091a\u0940\u091c \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u091c\u093e\u090f\u0917\u0940 \u0924\u094b \u0939\u092e \u092a\u0939\u0932\u0947 \u0924\u094b \u0916\u0930\u0940\u0926 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092c\u093e\u0926 \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c\u0928\u0947 \u092a\u0930 \u0909\u0938\u0915\u094b \u092c\u0947\u091a \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u091c\u092c \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u091c\u093e\u0928\u0947 \u0935\u093e\u0932\u0940 \u0939\u0948 \u0924\u094b \u092a\u0939\u0932\u0947 \u092c\u0947\u091a\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0915\u0940\u092e\u0924 \u0915\u092e \u0939\u094b \u091c\u093e\u0928\u0947 \u092a\u0930 \u0935\u093e\u092a\u0938 \u0907\u0938\u0947 \u0916\u0930\u0940\u0926 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0907\u0938\u0947 \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0940 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0906\u092a \u0914\u0930 \u0906\u092a\u0915\u093e \u0926\u094b\u0938\u094d\u0924 \u092c\u0948\u0920\u0915\u0930 \u092d\u093e\u0930\u0924 \u0914\u0930 \u092a\u093e\u0915\u093f\u0938\u094d\u0924\u093e\u0928 \u0915\u093e \u0915\u094d\u0930\u093f\u0915\u0947\u091f \u092e\u0948\u091a \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a\u0915\u0947 \u0914\u0930 \u0906\u092a\u0915\u0947 \u0926\u094b\u0938\u094d\u0924 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0936\u0930\u094d\u0924 \u0932\u0917\u0924\u0940 \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092d\u093e\u0930\u0924 \u091c\u0940\u0924\u0947\u0917\u093e \u0914\u0930 \u0906\u092a\u0915\u0947 \u0926\u094b\u0938\u094d\u0924 \u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092d\u093e\u0930\u0924 \u0939\u093e\u0930\u0947\u0917\u093e\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u092d\u093e\u0930\u0924 \u092e\u0948\u091a \u091c\u0940\u0924\u0924\u093e \u0939\u0948 \u0924\u094b \u0906\u092a \u092a\u0948\u0938\u0947 \u0915\u092e\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u0905\u0917\u0930 \u092d\u093e\u0930\u0924 \u092e\u0948\u091a \u0939\u093e\u0930 \u091c\u093e\u0924\u093e \u0939\u0948 \u0924\u094b \u0906\u092a\u0915\u093e \u0926\u094b\u0938\u094d\u0924 \u092a\u0948\u0938\u0947 \u092c\u0928\u093e\u090f\u0917\u093e\u0964 \u0905\u092c \u0907\u0938\u0940 \u092c\u093e\u0924 \u0915\u094b \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u0947 \u0928\u091c\u0930\u093f\u090f \u0938\u0947 \u0926\u0947\u0916\u093f\u090f\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u092d\u093e\u0930\u0924 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u090f\u0915 \u0938\u094d\u091f\u0949\u0915\u00a0 \u0939\u0948\u0964 \u0924\u094b, \u0905\u092a\u0928\u0940 \u0936\u0930\u094d\u0924 \u092e\u0947\u0902 \u0906\u092a \u0915\u0939 \u0930\u0939\u0947 \u0939\u0948\u0902 \u0915\u093f \u0906\u092a\u0915\u093e \u0938\u094d\u091f\u0949\u0915 \u092f\u093e\u0928\u0940 \u092d\u093e\u0930\u0924\u0940\u092f \u091f\u0940\u092e (\u0938\u094d\u091f\u0949\u0915) \u0905\u0917\u0930 \u090a\u092a\u0930 \u091c\u093e\u0924\u093e \u0939\u0948 (\u091f\u0940\u092e \u091c\u0940\u0924\u0924\u0940 \u0939\u0948) \u0924\u094b \u0906\u092a\u0915\u0947 \u092a\u0948\u0938\u0947 \u092c\u0928\u0947\u0902\u0917\u0947\u0964 \u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0906\u092a\u0915\u093e \u0926\u094b\u0938\u094d\u0924 \u0915\u0939 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u092d\u093e\u0930\u0924\u0940\u092f \u091f\u0940\u092e (\u0938\u094d\u091f\u0949\u0915) \u0928\u0940\u091a\u0947 \u091c\u093e\u090f\u0917\u093e \u092f\u093e\u0928\u0940 \u092d\u093e\u0930\u0924\u0940\u092f \u091f\u0940\u092e \u0939\u093e\u0930\u0947\u0917\u0940 \u0924\u094b \u0910\u0938\u0947 \u092e\u0947\u0902 \u0909\u0938\u0915\u0947 \u092a\u0948\u0938\u0947 \u092c\u0928\u0947\u0902\u0917\u0947\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u0940 \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0915\u0939\u0947\u0902 \u0924\u094b \u0906\u092a \u092d\u093e\u0930\u0924\u0940\u092f \u091f\u0940\u092e \u092a\u0930 \u0932\u093e\u0902\u0917 \u0939\u0948\u0902 \u0914\u0930 \u0906\u092a\u0915\u093e \u0926\u094b\u0938\u094d\u0924 \u092d\u093e\u0930\u0924\u0940\u092f \u091f\u0940\u092e \u092a\u0930 \u0936\u0949\u0930\u094d\u091f \u0939\u0948\u0964", "\u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u092d\u0940 \u0906\u092a\u0915\u0947 \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u0915\u0908 \u0938\u0935\u093e\u0932 \u0906 \u0930\u0939\u0947 \u0939\u094b\u0902\u0917\u0947\u0964 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u0907\u0924\u0928\u093e \u0906\u0938\u093e\u0928 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0905\u0917\u0930 \u0906\u092a \u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u0915\u0947 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u093f\u0932\u094d\u0915\u0941\u0932 \u0928\u0939\u0940\u0902 \u091c\u093e\u0928\u0924\u0947 \u0924\u094b \u092c\u0938 \u092f\u0947 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u091c\u092c \u0915\u093f\u0938\u0940 \u0938\u094d\u091f\u0949\u0915 \u092f\u093e \u0936\u0947\u092f\u0930 \u0915\u0947 \u0928\u0940\u091a\u0947 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0939\u094b\u0924\u0940 \u0939\u0948 \u0924\u094b \u0906\u092a \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0915\u0947 \u092a\u0948\u0938\u0947 \u092c\u0928\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0915\u093f\u0938\u0940 \u0936\u0947\u092f\u0930 \u092f\u093e \u0909\u0938\u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u094b \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092a\u0939\u0932\u0947 \u0909\u0938\u0947 \u0906\u092a \u0915\u094b \u092c\u0947\u091a\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u092c\u093e\u0926 \u092e\u0947\u0902 \u0906\u092a \u0909\u0938\u0947 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902\u0964 \u0935\u0948\u0938\u0947 \u0907\u0938\u0947 \u0938\u0940\u0916\u0928\u0947 \u0915\u093e \u0938\u092c\u0938\u0947 \u0905\u091a\u094d\u091b\u093e \u0924\u0930\u0940\u0915\u093e \u092f\u0939 \u0939\u0948 \u0915\u093f \u0906\u092a \u0938\u094d\u091f\u0949\u0915 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u0915\u093f\u0938\u0940 \u0936\u0947\u092f\u0930 \u0915\u094b \u0936\u093e\u0930\u094d\u091f \u0915\u0930\u0947\u0902 \u0914\u0930 \u0909\u0938\u0938\u0947 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0947 \u092b\u093e\u092f\u0926\u0947 \u092f\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u094b \u091d\u0947\u0932\u0947\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u0906\u092a\u0915\u0947 \u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u092e\u0948\u0902 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0942\u0902\u0917\u093e \u0915\u093f \u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0906\u092a\u0915\u094b \u0935\u094b \u0938\u093e\u0930\u0940 \u092c\u093e\u0924\u0947\u0902 \u092c\u0924\u093e \u0938\u0915\u0942\u0902 \u091c\u093f\u0938\u0915\u094b \u0906\u092a \u0915\u094b \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964", "\u0906\u092a \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u092e\u0947\u0902 \u091c\u093e\u0915\u0930 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0947\u0902 \u0909\u0938\u0915\u0947 \u092a\u0939\u0932\u0947 \u092f\u0947 \u091c\u093e\u0928\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0938\u094d\u092a\u0949\u091f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f \u0915\u0948\u0938\u0947 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u090f\u0915 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u0940 \u0915\u0932\u094d\u092a\u0928\u093e \u0915\u0940\u091c\u093f\u090f-", "\u0924\u094b, \u091f\u094d\u0930\u0947\u0921\u0930 \u0907\u0938 \u0917\u093f\u0930\u093e\u0935\u091f \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0909\u0920\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948 \u0907\u0938\u0940\u0932\u093f\u090f \u0935\u0939 HCL \u091f\u0947\u0915\u094d\u0928\u094b\u0932\u0949\u091c\u0940\u091c \u0915\u094b \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u093e \u0907\u0930\u093e\u0926\u093e \u092c\u0928\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902-", "\u0905\u092c \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u091c\u092c \u0936\u0947\u092f\u0930 \u0915\u0947 \u0917\u093f\u0930\u0928\u0947 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0939\u094b\u0924\u0940 \u0939\u0948 \u0924\u094b \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e\u093e\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u092a\u0930 \u0936\u0947\u092f\u0930 \u0915\u094b \u092f\u093e \u0909\u0938\u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u094b \u0936\u0949\u0930\u094d\u091f \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u090a\u092a\u0930 \u0915\u0947 \u091f\u0947\u092c\u0932 \u092e\u0947\u0902 \u0939\u092e\u0947\u0902 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f 1990 \u0930\u0941\u092a\u092f\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0936\u093e\u0930\u094d\u091f \u0915\u0930\u0928\u093e \u0939\u0948\u0964", "\u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092a\u094d\u0932\u0947\u091f\u092b\u0949\u0930\u094d\u092e \u092a\u0930 \u091c\u092c \u0906\u092a \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902, \u0924\u094b \u0906\u092a\u0915\u094b \u0938\u093f\u0930\u094d\u092b \u0909\u0938 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u092f\u093e \u0909\u0938\u0915\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u0930\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 F2 \u092c\u091f\u0928 \u0926\u092c\u093e\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0910\u0938\u093e \u0915\u0930\u0924\u0947 \u0939\u0940 \u0906\u092a\u0915\u0947 \u0938\u093e\u092e\u0928\u0947 \u0938\u0947\u0932 \u0911\u0930\u094d\u0921\u0930 \u092b\u0949\u0930\u094d\u092e \u0906 \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u0906\u092a\u0915\u094b \u0909\u0938\u092e\u0947\u0902 \u092e\u093e\u0924\u094d\u0930\u093e \u092d\u0930\u0928\u0940 \u0939\u0948, \u0926\u0942\u0938\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u093e\u0902 \u0926\u0947\u0928\u0940 \u0939\u0948 \u0914\u0930 \u0938\u092c\u092e\u093f\u091f (Submit) \u0915\u0930 \u0926\u0947\u0928\u093e \u0939\u0948\u0964 \u091c\u092c \u0906\u092a \u0938\u092c\u092e\u093f\u091f \u0915\u093e \u092c\u091f\u0928 \u0926\u092c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0911\u0930\u094d\u0921\u0930 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092a\u0930 \u091a\u0932\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u0947 \u0939\u0940 \u092f\u0939 \u0938\u094c\u0926\u093e \u092a\u0942\u0930\u093e \u0939\u094b\u0924\u093e \u0939\u0948 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u090f\u0915 \u0936\u0949\u0930\u094d\u091f \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0905\u092c \u091c\u0930\u093e \u092f\u0939 \u0938\u094b\u091a\u093f\u090f \u0915\u093f \u0906\u092a \u091c\u092c \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a\u0915\u094b \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u092c \u0939\u094b\u0924\u093e \u0939\u0948? \u0906\u092a\u0915\u094b \u0928\u0941\u0915\u0938\u093e\u0928 \u0924\u092c \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0936\u0947\u092f\u0930 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0906\u092a\u0915\u0947 \u0905\u0928\u0941\u092e\u093e\u0928 \u0915\u0947 \u0935\u093f\u092a\u0930\u0940\u0924 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u091a\u0932\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964", "\u0907\u0938\u0940 \u0935\u091c\u0939 \u0938\u0947 \u091c\u092c \u0906\u092a \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0939\u092e\u0947\u0936\u093e \u090a\u092a\u0930 \u0915\u0940 \u0924\u0930\u092b \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u090a\u092a\u0930 \u0915\u0947 \u091f\u0947\u092c\u0932 \u092e\u0947\u0902 \u0906\u092a \u0915\u094b \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0936\u0949\u0930\u094d\u091f \u0915\u0947 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u090f\u0902\u091f\u094d\u0930\u0940 \u0915\u0940\u092e\u0924 \u0939\u0948 1990 \u0930\u0941\u092a\u090f \u0914\u0930 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0939\u0948 \u20b92000 \u091c\u094b \u0915\u093f \u0906\u092a \u0915\u0940 \u090f\u0902\u091f\u094d\u0930\u0940 \u0915\u0940\u092e\u0924 \u0938\u0947 \u20b910 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964", "\u0905\u092c 1990 \u0930\u0941\u092a\u090f \u092a\u0930 \u0906\u092a\u0915\u0947 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0936\u0941\u0930\u0942 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0926\u094b \u0938\u094d\u0925\u093f\u0924\u093f\u092f\u093e\u0902 \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0902:", "\u0938\u094d\u0925\u093f\u0924\u093f 1 \u2013 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 1950 \u0930\u0941\u092a\u090f \u0915\u0947 \u091f\u093e\u0930\u0917\u0947\u091f \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u0940 \u0939\u0948", "\u0907\u0938 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0906\u092a\u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u091a\u0932\u0940 \u0939\u0948\u0964 \u0938\u094d\u091f\u0949\u0915 \u0928\u0940\u091a\u0947 \u0917\u093f\u0930\u093e \u0939\u0948 \u20b91990 \u0938\u0947 \u0917\u093f\u0930\u0915\u0930 \u20b91950 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u093e \u0939\u0948 \u0914\u0930 \u0906\u092a \u0915\u093e \u091f\u093e\u0930\u0917\u0947\u091f \u092a\u0942\u0930\u093e \u0939\u094b \u091a\u0941\u0915\u093e \u0939\u0948\u0964 \u0910\u0938\u0947 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u092c\u0902\u0926 \u0915\u0930\u0947\u0917\u093e\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u091c\u092c \u091f\u094d\u0930\u0947\u0921\u0930 \u0936\u0949\u0930\u094d\u091f \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e\u0924\u093e \u0939\u0948 \u0924\u094b", "\u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0907\u0938 \u092a\u0942\u0930\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 \u0905\u092a\u0928\u0940 \u092c\u0947\u091a\u0928\u0947 \u0914\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092c\u0940\u091a \u0915\u0947 \u0905\u0902\u0924\u0930 \u092f\u093e\u0928\u0940 \u20b940 (1990-1950=40) \u0915\u0940 \u0915\u092e\u093e\u0908 \u0915\u0930\u0947\u0917\u093e\u0964", "\u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u0907\u0938\u0947 \u0910\u0938\u0947 \u092d\u0940 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u091f\u094d\u0930\u0947\u0921\u0930 \u0928\u0947 1950 \u0930\u0941\u092a\u090f \u092a\u0930 \u0916\u0930\u0940\u0926\u093e \u0914\u0930 1990 \u0930\u0941\u092a\u090f \u092a\u0930 \u092c\u0947\u091a\u093e \u0914\u0930 \u0907\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u20b940 \u0915\u092e\u093e \u0932\u093f\u090f\u0964 \u092c\u0938 \u092f\u0939\u093e\u0902 \u0939\u094b \u092f\u0939 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u092f\u0939 \u0909\u0932\u094d\u091f\u0947 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0939\u094b \u0930\u0939\u093e \u0939\u0948 \u091c\u0939\u093e\u0902 \u092a\u0930 \u092a\u0939\u0932\u0947 \u092c\u0947\u091a\u093e \u091c\u093e \u0930\u0939\u093e \u0914\u0930 \u092c\u093e\u0926 \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u093e \u091c\u093e \u0930\u0939\u093e \u0939\u0948\u0964", "\u0938\u094d\u0925\u093f\u0924\u093f 2 \u2013 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092c\u0922\u093c\u0915\u0930 \u20b92000 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u0924\u0940 \u0939\u0948", "\u0907\u0938 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u091a\u0932\u0940 \u0917\u0908 \u0939\u0948 \u0914\u0930 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u0906\u092a \u0936\u0949\u0930\u094d\u091f \u0924\u092c \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c \u0906\u092a \u0938\u094b\u091a\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u091c\u093e\u090f\u0917\u0940\u0964 \u0906\u092a\u0915\u094b \u092e\u0941\u0928\u093e\u092b\u093e \u092d\u0940 \u0924\u092d\u0940 \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u092c \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0905\u0917\u0930 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u091a\u0932\u0940 \u0917\u0908 \u0924\u094b \u0906\u092a\u0915\u094b \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b\u0917\u093e\u0964 \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092d\u0940 \u0910\u0938\u093e \u0939\u0940 \u0939\u0941\u0906 \u0939\u0948 \u0914\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b \u0930\u0939\u093e \u0939\u0948\u0964", "\u0907\u0938 \u092a\u0942\u0930\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u20b910 (2000-1990=10) \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u0941\u0906\u0964 \u0907\u0938\u0915\u094b \u0905\u0917\u0930 \u0906\u092a \u092a\u093e\u0930\u0902\u092a\u0930\u093f\u0915 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u092f\u093e\u0928\u0940 \u092a\u0939\u0932\u0947 \u0916\u0930\u0940\u0926\u0928\u0947 \u0914\u0930 \u092c\u093e\u0926 \u092e\u0947\u0902 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0924\u094b \u092f\u0939 \u20b92000 \u092a\u0930 \u0916\u0930\u0940\u0926\u0928\u093e 1990 \u092a\u0930 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u092c\u0930\u093e\u092c\u0930 \u0939\u0948\u0964 \u092c\u0938 \u092f\u0939\u093e\u0902 \u092a\u0930 \u092f\u0939 \u0938\u092c \u0915\u0941\u091b \u0909\u0932\u094d\u091f\u0940 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u0939\u094b \u0930\u0939\u093e \u0939\u0948\u0964", "\u0905\u092c \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u092e\u0947\u0902 \u0906 \u0917\u092f\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u0915\u0940\u092e\u0924 \u0928\u0940\u091a\u0947 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u092a\u0930 \u0906\u092a \u0915\u0948\u0938\u0947 \u092a\u0948\u0938\u0947 \u0915\u092e\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0938\u094d\u092a\u0949\u091f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u090f\u0915 \u092c\u0921\u093c\u0940 \u0930\u0941\u0915\u093e\u0935\u091f \u0939\u0948 \u0915\u093f \u0906\u092a \u0938\u093f\u0930\u094d\u092b \u0907\u0902\u091f\u094d\u0930\u093e \u0921\u0947 \u092e\u0947\u0902 \u0939\u0940 \u0936\u0949\u0930\u094d\u091f \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u0924\u0932\u092c \u0905\u0917\u0930 \u0906\u092a\u0928\u0947 \u0936\u0949\u0930\u094d\u091f \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e\u0908 \u0939\u0948 \u0924\u094b \u0909\u0938\u0940 \u0926\u093f\u0928 \u092c\u093e\u091c\u093e\u0930 \u092c\u0902\u0926 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0906\u092a\u0915\u094b \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0915\u0930 \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b \u0915\u0930\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u0907\u0938 \u0936\u0949\u0930\u094d\u091f \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u0924\u0915 \u0928\u0939\u0940\u0902 \u0932\u0947 \u091c\u093e \u0938\u0915\u0924\u0947\u0964 \u0910\u0938\u093e \u0915\u094d\u092f\u094b\u0902 \u0939\u094b\u0924\u093e \u0939\u0948 \u0907\u0938\u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0947\u0902 \u0938\u092e\u091d\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0936\u0949\u0930\u094d\u091f \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0915\u093f\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0926\u0947\u0916\u0924\u093e \u0939\u0948\u0964", "\u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0924\u0947 \u0938\u092e\u092f \u0906\u092a \u092a\u0939\u0932\u0947 \u092c\u0947\u091a \u0930\u0939\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u0939\u0940 \u0906\u092a \u092f\u0939 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0924\u0947 \u0939\u0948\u0902, \u0935\u0948\u0938\u0947 \u0939\u0940 \u092c\u0948\u0915\u090f\u0902\u0921 (Backend) \u0938\u0947 \u0938\u094d\u091f\u0949\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u094b \u0938\u0942\u091a\u0928\u093e \u091c\u093e\u0924\u0940 \u0939\u0948 \u0915\u093f \u0906\u092a\u0928\u0947 \u092b\u0932\u093e\u0902 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u093e\u0964 \u0909\u0938 \u0938\u092e\u092f \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u094b \u092f\u0939 \u0928\u0939\u0940\u0902 \u092a\u0924\u093e \u091a\u0932\u0924\u093e \u0915\u093f \u0906\u092a\u0928\u0947 \u091c\u094b \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u093e \u0939\u0948 \u0935\u094b\u00a0 \u0906\u092a\u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0939\u0948 \u092f\u093e \u0928\u0939\u0940\u0902\u0964 \u0909\u0928\u0915\u094b \u092f\u0939 \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0928\u0947 \u091c\u094b \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u093e \u0939\u0948 \u0935\u0939 \u0906\u092a \u0936\u093e\u092e \u0924\u0915 \u0909\u0928\u094d\u0939\u0947\u0902 \u0921\u093f\u0932\u0940\u0935\u0930 \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0905\u092c \u0910\u0938\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u0947 \u0921\u0940\u092e\u0948\u091f \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u0935\u094b \u0936\u0947\u092f\u0930 \u0939\u094b\u0928\u0947 \u091a\u093e\u0939\u093f\u090f\u0964 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u092c\u0902\u0926 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0939\u0940 \u092f\u0939 \u092a\u0924\u093e \u091a\u0932 \u092a\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0928\u0947 \u092f\u0939 \u0938\u094c\u0926\u093e \u092a\u0942\u0930\u093e \u0928\u0939\u0940\u0902 \u0915\u093f\u092f\u093e \u0939\u0948\u0964", "\u0907\u0938 \u092c\u093e\u0924 \u0915\u094b \u0926\u093f\u092e\u093e\u0917 \u092e\u0947\u0902 \u0930\u0916\u0924\u0947 \u0939\u0941\u090f, \u0905\u092c \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a \u0928\u0947 \u090f\u0915 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0936\u0949\u0930\u094d\u091f \u0915\u093f\u092f\u093e \u0939\u0948 \u0914\u0930 \u0906\u092a \u0909\u0938 \u0915\u0940 \u0917\u093f\u0930\u0924\u0940 \u0915\u0940\u092e\u0924 \u0915\u093e \u092b\u093e\u092f\u0926\u093e \u0909\u0920\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u092c \u0905\u0917\u0930 \u0906\u092a \u0915\u0947 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0915\u0940\u092e\u0924 \u0917\u093f\u0930\u0924\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0914\u0930 \u0906\u092a \u0917\u093f\u0930\u093e\u0935\u091f \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0926\u093f\u0928 \u0914\u0930 \u0907\u0902\u0924\u091c\u093e\u0930 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u092c\u093e\u091c\u093e\u0930 \u092c\u0902\u0926 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u094b \u092a\u0924\u093e \u091a\u0932 \u091c\u093e\u090f\u0917\u093e \u0915\u093f \u0906\u092a\u0928\u0947 \u091c\u094b \u0936\u0947\u092f\u0930 \u092c\u0947\u091a\u0947 \u0939\u0948\u0902, \u0935\u094b \u0936\u0947\u092f\u0930 \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u0939\u0948\u0902 \u0939\u0940 \u0928\u0939\u0940\u0902\u0964 \u0907\u0938 \u0936\u0947\u092f\u0930 \u0915\u0940 \u0921\u093f\u0932\u0940\u0935\u0930\u0940 \u0926\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u0936\u0947\u092f\u0930 \u0939\u094b\u0928\u0947 \u091a\u093e\u0939\u093f\u090f \u091c\u092c\u0915\u093f \u0906\u092a\u0915\u0947 \u092a\u093e\u0938 \u092f\u0939 \u0921\u093f\u0932\u0940\u0935\u0930\u0940 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0936\u0947\u092f\u0930 \u0939\u0948 \u0939\u0940 \u0928\u0939\u0940\u0902\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0906\u092a \u0905\u0917\u0932\u0947 \u0926\u093f\u0928 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u0930\u0947\u0902\u0917\u0947\u0964 \u0907\u0938 \u0921\u093f\u092b\u0949\u0932\u094d\u091f \u0915\u0947 \u0932\u093f\u090f \u092c\u0921\u093c\u0940 \u092d\u093e\u0930\u0940 \u092a\u0947\u0928\u0932\u094d\u091f\u0940 \u0905\u0926\u093e \u0915\u0930\u0928\u0940 \u092a\u0921\u093c\u0947\u0917\u0940\u0964 \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u0915\u094b \u0936\u0949\u0930\u094d\u091f \u0921\u093f\u0932\u0940\u0935\u0930\u0940 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0936\u0949\u0930\u094d\u091f \u0921\u093f\u0932\u0940\u0935\u0930\u0940 \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092a\u0948\u0926\u093e \u0939\u094b\u0928\u0947 \u092a\u0930 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0907\u0938 \u092e\u093e\u092e\u0932\u0947 \u0915\u094b \u0938\u0947\u091f\u0932 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0911\u0915\u094d\u0936\u0928 (\u0928\u0940\u0932\u093e\u092e\u0940) \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u0911\u0915\u094d\u0936\u0928 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0907\u0938 \u0932\u0947\u0916 \u0915\u094b \u092a\u0922\u093c\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u091c\u094b \u0911\u092a\u094d\u0936\u0928 \u0915\u0940 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u094b \u0914\u0930 \u092a\u0947\u0928\u093e\u0932\u094d\u091f\u0940 \u0915\u0947 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0915\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0938\u092e\u091d\u093e\u0924\u093e \u0939\u0948\u0964 \u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u090f\u0915 \u0938\u0932\u093e\u0939 \u0926\u0947\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0915\u092d\u0940 \u092d\u0940 \u0910\u0938\u0940 \u0938\u094d\u0925\u093f\u0924\u093f \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u093f\u090f \u0939\u0948 \u091c\u0939\u093e\u0902 \u092a\u0930 \u0936\u0949\u0930\u094d\u091f \u0921\u093f\u0932\u0940\u0935\u0930\u0940 \u0915\u0940 \u0939\u093e\u0932\u0924 \u092a\u0948\u0926\u093e \u0939\u094b \u091c\u093e\u090f\u0964 \u0906\u092a\u0915\u094b \u0939\u092e\u0947\u0936\u093e \u0915\u094b\u0936\u093f\u0936 \u0915\u0930\u0928\u0940 \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0906\u092a \u0905\u092a\u0928\u0947 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u092c\u0902\u0926 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0915\u094d\u0932\u094b\u091c \u0915\u0930 \u0926\u0947\u0902, \u0928\u0939\u0940\u0902 \u0924\u094b, \u0906\u092a\u0915\u094b 20% \u0924\u0915 \u0915\u0940 \u0930\u0915\u092e \u092a\u0947\u0928\u0932\u094d\u091f\u0940 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u091a\u0941\u0915\u093e\u0928\u0940 \u092a\u0921\u093c \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0905\u092c \u090f\u0915 \u092c\u0947\u0939\u0926 \u091c\u0930\u0942\u0930\u0940 \u092c\u093e\u0924-\u00a0 \u092c\u093e\u091c\u093e\u0930 \u092c\u0902\u0926 \u0939\u094b\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0939\u0940 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092f\u0947 \u091c\u093e\u0928 \u092a\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u093f\u0938\u0928\u0947 \u0905\u092a\u0928\u0947 \u0938\u094c\u0926\u0947 \u092a\u0942\u0930\u0947 \u0928\u0939\u0940\u0902 \u0915\u093f\u090f \u0939\u0948\u0902\u0964 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u092f\u0947 \u092a\u0924\u093e \u0915\u0930\u0947 \u0907\u0938\u0915\u0947 \u092a\u0939\u0932\u0947 \u0906\u092a\u0915\u094b \u0905\u092a\u0928\u0947 \u0936\u093e\u0930\u094d\u091f \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0902\u0926 (\u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b) \u0915\u0930 \u0926\u0947\u0928\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0914\u0930 \u0915\u093f\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0915\u0940 \u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u0938\u094d\u092a\u0949\u091f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0928\u0939\u0940\u0902 \u0915\u0940 \u091c\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "\u0939\u093e\u0902, \u0905\u0917\u0930 \u0906\u092a \u0905\u092a\u0928\u0947 \u0936\u0949\u0930\u094d\u091f \u092a\u094b\u091c\u093f\u0936\u0928 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092c\u0928\u093e\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u0907\u0938\u0915\u094b \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u0915\u0908 \u0926\u093f\u0928\u094b\u0902 \u0924\u0915 \u0905\u092a\u0928\u0947 \u092a\u093e\u0938 \u0930\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u092a\u0930 \u0915\u093f\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0915\u0940 \u0930\u094b\u0915 \u0928\u0939\u0940\u0902 \u0939\u0948, \u0936\u093e\u092f\u0926 \u0907\u0938\u0940\u0932\u093f\u090f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0907\u0924\u0928\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0932\u094b\u0915\u092a\u094d\u0930\u093f\u092f \u0939\u0948\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u090f\u0915 \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935 \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f \u0939\u0948 \u091c\u094b \u0915\u093f \u0905\u092a\u0928\u0947 \u0905\u0902\u0921\u0930\u0932\u093e\u0907\u0902\u0917 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u091a\u0932\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u0905\u0902\u0921\u0930\u0932\u093e\u0907\u0902\u0917 \u090f\u0938\u0947\u091f \u0915\u0940 \u0915\u0940\u092e\u0924 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u091c\u093e \u0930\u0939\u0940 \u0939\u094b \u0924\u094b \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092d\u0940 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u0939\u094b\u0917\u0940\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u0906\u092a\u0915\u0940 \u0915\u093f\u0938\u0940 \u0938\u094d\u091f\u0949\u0915 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092e\u0902\u0926\u0940 \u0915\u0940 \u0930\u093e\u092f \u0939\u0948 \u0924\u094b \u0906\u092a \u0909\u0938 \u092a\u0930 \u0936\u093e\u0930\u094d\u091f \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0905\u092a\u0928\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u094b \u0939\u094b\u0932\u094d\u0921 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u091c\u093f\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0906\u092a \u0905\u092a\u0928\u0940 \u0932\u093e\u0902\u0917 \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u091c\u092e\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092b\u093f\u0930 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e\u0924\u0947 \u0939\u0948\u0902 \u0909\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0936\u0949\u0930\u094d\u091f \u092a\u094b\u091c\u0940\u0936\u0928 \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u0906\u092a\u0915\u094b \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u091c\u092e\u093e \u0915\u0930\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u0936\u0949\u0930\u094d\u091f \u0914\u0930 \u0932\u093e\u0902\u0917 \u0926\u094b\u0928\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u090f\u0915 \u0924\u0930\u0939 \u0938\u0947 \u0939\u0940 \u0932\u0917\u0924\u0940 \u0939\u0948 \u0909\u0938\u092e\u0947\u0902 \u0915\u094b\u0908 \u0905\u0902\u0924\u0930 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964", "\u091c\u092c \u0906\u092a \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f (M2M) \u092e\u0947\u0902 \u092c\u0926\u0932\u093e\u0935 \u0915\u0948\u0938\u093e \u0928\u091c\u0930 \u0906\u0924\u093e \u0939\u0948?\u00a0 \u0907\u0938\u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0909\u0926\u093e\u0939\u0930\u0923 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0906\u092a \u0928\u0947 HCL \u091f\u0947\u0915\u094d\u0928\u094b\u0932\u0949\u091c\u0940\u091c \u0915\u094b 1990 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0936\u0949\u0930\u094d\u091f \u0915\u093f\u092f\u093e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u0932\u0949\u091f \u0938\u093e\u0907\u091c 125 \u0915\u093e \u0939\u0948\u0964 \u091f\u0947\u092c\u0932 \u092e\u0947\u0902 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0905\u0917\u0932\u0947 \u0915\u0941\u091b \u0926\u093f\u0928\u094b\u0902 \u092e\u0947\u0902 \u0915\u093f\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u092c\u0926\u0932\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0909\u0938\u0915\u093e M2M \u092a\u0930 \u0915\u094d\u092f\u093e \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964", "\u091c\u094b \u0926\u094b \u0932\u093e\u0907\u0928\u0947\u0902 \u0932\u093e\u0932 \u0930\u0902\u0917 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u0940 \u0917\u0908 \u0939\u0948\u0902, \u0935\u0939\u093e\u0902 \u092a\u0930 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u094b \u0930\u0939\u093e \u0939\u0948\u0964 \u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u093e \u0915\u0941\u0932 \u092e\u0941\u0928\u093e\u092b\u093e \u092f\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0928\u093f\u0915\u093e\u0932\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b \u0938\u093e\u0930\u0947 \u092e\u093e\u0930\u094d\u0915 \u091f\u0942 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u0915\u094b \u091c\u094b\u0921\u093c\u0928\u093e \u0939\u094b\u0917\u093e \u2013", "+1000+875-625-1125+2375+625", "= 3125 \u0930\u0941\u092a\u092f\u0947", "\u092f\u093e \u092b\u093f\u0930 \u0939\u092e", "(\u092c\u0947\u091a\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924 \u2013 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0915\u0940\u092e\u0924)\u00d7 \u0932\u0949\u091f \u0938\u093e\u0907\u091c", "= (19990 \u2013 1965) \u00d7 125", "= 3125 \u0930\u0941\u092a\u092f\u0947", "\u0906\u092a\u0928\u0947 \u0926\u0947\u0916\u093e \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u091c\u093f\u0938 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0932\u093e\u0901\u0917 \u0915\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e\u0908 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0909\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0936\u0949\u0930\u094d\u091f \u0915\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u092d\u0940 \u092c\u0928\u093e\u0908 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0905\u0902\u0924\u0930 \u0938\u093f\u0930\u094d\u092b \u092f\u0939 \u0939\u0948 \u0915\u093f \u091c\u092c \u0906\u092a \u0936\u0949\u0930\u094d\u091f \u0915\u0940 \u092a\u094b\u091c\u0940\u0936\u0928 \u092c\u0928\u093e\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0915\u0940\u092e\u0924 \u0917\u093f\u0930\u0928\u0947 \u0938\u0947 \u0906\u092a\u0915\u094b \u092b\u093e\u092f\u0926\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0914\u0930 M2M \u0915\u0940 \u0917\u0923\u0928\u093e \u092e\u0947\u0902 \u0915\u094b\u0908 \u0905\u0902\u0924\u0930 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e\u0964", "\u090f\u0915\u094d\u091f\u093f\u0935 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092e\u0947\u0902 \u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u090f\u0915 \u092c\u0939\u0941\u0924 \u0939\u0940 \u0906\u092e \u092c\u093e\u0924 \u0939\u0948\u0964 \u0905\u0917\u0930 \u0906\u092a\u0915\u094b \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0930\u0928\u0940 \u0939\u0948 \u0924\u094b \u0906\u092a\u0915\u094b \u0932\u093e\u0901\u0917 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0938\u093e\u0925-\u0938\u093e\u0925 \u0936\u0949\u0930\u094d\u091f \u091f\u094d\u0930\u0947\u0921 \u0915\u094b \u0915\u0930\u0928\u0947 \u0915\u0940 \u0906\u0926\u0924 \u0921\u093e\u0932 \u0932\u0947\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964", "Short position me future 24 jan 2020 essa hi ayega yeah iske liye koi dusra ayega", "\u0936\u0949\u0930\u094d\u091f\u093f\u0902\u0917 \u092b\u0941\u091f\u0941\u0930\u0947\u0938 \u0915\u0940 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0938\u092e\u093e\u0928 \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0915\u094b\u0908 \u092c\u0926\u0932\u093e\u0935 \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964", "= (19990 \u2013 1965) \u00d7 125", "= 3125 \u0930\u0941\u092a\u092f\u0947", "19990 amount is wrong", "Thanks, Lalit, we will check this.", "8.4 me jo screenshot diya gaya h M2M ka, usme loss me red highlight nhi dikh rha h\u2026 plz check.", "(19990 \u2013 1965) \u00d7 125.", "Please use correct lijiye.", "\u0938\u0942\u091a\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0927\u0928\u094d\u092f\u0935\u093e\u0926 \u0939\u092e \u0907\u0938\u0915\u094b \u091a\u0947\u0915 \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "Shorting position weakly expiry me square off karte hai ya monthly expiry me, ya month end me roll over kar skte hai??", "\u0939\u092e\u0928\u0947 \u0938\u092c \u0915\u0941\u091b \u0907\u0938\u0940 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0938\u092e\u091d\u093e\u092f\u093e \u0915\u0943\u092a\u092f\u093e \u0907\u0938\u0915\u094b \u092a\u0942\u0930\u093e \u092a\u095d\u0947\u0902\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2015/02/M4-Ch8-title1.jpg", "https://secure.gravatar.com/avatar/f2598e56174de661b27edf18ee33496a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/6dd819d1f0a4f1006fbe450a5ffe8884?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/1d79b580c6da2e717f35749cb3463cf0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/a35510485b3164ea6ebbe04359cddf1d?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5132959d306b069d785e4234dad1d947?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0938\u094d\u091f\u0949\u0915</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">HCL \u091f\u0947\u0915\u094d\u0928\u094b\u0932\u0949\u091c\u0940\u091c</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u091f\u094d\u0930\u0947\u0921 \u0915\u093e \u092a\u094d\u0930\u0915\u093e\u0930</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0936\u0949\u0930\u094d\u091f (\u092a\u0939\u0932\u0947 \u092c\u0947\u091a\u0928\u093e \u092b\u093f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e)</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0938\u092e\u092f \u0905\u0935\u0927\u093f</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0907\u0902\u091f\u094d\u0930\u093e \u0921\u0947</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0915\u0940\u092e\u0924</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.1990/-</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">50</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u091f\u093e\u0930\u0917\u0947\u091f \u0915\u0940\u092e\u0924</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.1950/-</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">% \u092e\u0941\u0928\u093e\u092b\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">2.0%</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.2000/-</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0930\u093f\u0938\u094d\u0915</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.10/-</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u0930\u093f\u0935\u093e\u0930\u094d\u0921</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.40/-</span></td>\n</tr>\n</tbody>\n</table>", "<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><b>\u0926\u093f\u0928</b></td>\n<td style=\"text-align: center;\"><b>M2M \u0915\u0947 \u0932\u093f\u090f \u0915\u0940\u092e\u0924</b></td>\n<td style=\"text-align: center;\"><b>\u0915\u094d\u0932\u094b\u091c\u093f\u0902\u0917 \u0915\u0940\u092e\u0924\u00a0</b></td>\n<td style=\"text-align: center;\"><b>\u0926\u093f\u0928 \u0915\u093e P&amp;L\u00a0</b></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">01 \u2013 (\u0936\u0949\u0930\u094d\u091f \u0915\u0940 \u0936\u0941\u0930\u0942\u0906\u0924)</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1990</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1982</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">125 x 8 = 1000</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">02</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1982</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1975</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">125 x 7 + 875</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">03</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1975</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1980</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">125 x 5 = 625</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">04</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1980</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1989</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">125 x 9 = 1125</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">05</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1989</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1970</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">125 x 19 = 2375</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">06 \u2013 (\u0938\u094d\u0915\u094d\u0935\u0947\u092f\u0930 \u0911\u092b)</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1970</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1965</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">125 x 5 = 625</span></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "15. \u0905\u0924\u093f\u0930\u093f\u0915\u094d\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940- 20 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u092f\u093e \u0932\u0947\u0935\u0932 3 \u0921\u0947\u091f\u093e", "text": ["\u092e\u0948\u0902 \u0915\u0908 \u0938\u093e\u0932\u094b\u0902 \u0938\u0947 \u0915\u093e\u0930 \u091a\u0932\u093e \u0930\u0939\u093e \u0939\u0942\u0902 \u0914\u0930 \u0915\u093e\u0930 \u0915\u094b \u0915\u0908 \u092c\u093e\u0930 \u092c\u0926\u0932 \u092d\u0940 \u091a\u0941\u0915\u093e \u0939\u0942\u0902\u0964 \u091c\u092c \u092d\u0940 \u092e\u0948\u0902\u0928\u0947 \u0915\u093e\u0930 \u092c\u0926\u0932\u0940 \u0939\u0948, \u0924\u094b \u0907\u0902\u091c\u0928 \u0915\u0930\u0940\u092c-\u0915\u0930\u0940\u092c \u0935\u0948\u0938\u093e \u0939\u0940 \u0930\u0939\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0915\u093e\u0930 \u0915\u093e \u0930\u0941\u092a \u0914\u0930 \u0915\u093e\u0930 \u0915\u0947 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u092b\u0940\u091a\u0930 \u092c\u0926\u0932\u0924\u0947 \u0930\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u090f\u092f\u0930 \u0915\u0902\u0921\u0940\u0936\u0928\u093f\u0902\u0917, \u092a\u093e\u0935\u0930 \u0938\u094d\u091f\u0940\u092f\u0930\u093f\u0902\u0917 \u0914\u0930 \u092a\u093e\u0935\u0930 \u0935\u093f\u0902\u0921\u094b \u0906\u0926\u093f \u092a\u0939\u0932\u0947 \u0932\u0917\u094d\u091c\u0930\u0940 \u092b\u0940\u091a\u0930 \u092e\u093e\u0928\u0947 \u091c\u093e\u0924\u0947 \u0925\u0947, \u0932\u0947\u0915\u093f\u0928 \u0906\u091c \u092f\u0947 \u0938\u093e\u0930\u0947 \u092b\u0940\u091a\u0930 \u091c\u0930\u0942\u0930\u0940 \u092c\u0928 \u0917\u090f \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 \u092e\u0947\u0930\u0947 \u0932\u093f\u090f \u0938\u092c\u0938\u0947 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091a\u0940\u091c \u0939\u0948 \u2013 \u092a\u093e\u0930\u094d\u0915\u093f\u0902\u0917 \u0905\u0938\u093f\u0938\u094d\u091f\u0964 \u0915\u093e\u0930 \u0915\u0947 \u092a\u0940\u091b\u0947 \u0932\u0917\u093e \u0939\u0941\u0906 \u092f\u0939 \u091b\u094b\u091f\u093e \u0915\u0948\u092e\u0930\u093e \u092e\u0941\u091d\u0947 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092a\u0940\u091b\u0947 \u092a\u093e\u0930\u094d\u0915\u093f\u0902\u0917 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u0924\u0928\u0940 \u091c\u0917\u0939 \u092c\u091a\u0940 \u0939\u0948\u0964 \u0905\u092c \u092e\u0941\u091d\u0947 \u0916\u093f\u0921\u093c\u0915\u0940 \u0938\u0947 \u092c\u093e\u0939\u0930 \u0928\u093f\u0915\u093e\u0932 \u0915\u0930 \u092a\u0940\u091b\u0947 \u0926\u0947\u0916\u0928\u0947 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u0940 \u0914\u0930 \u0928\u093e \u0939\u0940 \u0915\u093f\u0938\u0940 \u0926\u0942\u0938\u0930\u0947 \u0938\u0947 \u0928\u0940\u091a\u0947 \u0909\u0924\u0930 \u0915\u0930 \u0915\u093e\u0930 \u0915\u094b \u092a\u093e\u0930\u094d\u0915 \u0915\u0930\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u0939\u0928\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092a\u093e\u0930\u094d\u0915\u093f\u0902\u0917 \u0905\u0938\u093f\u0938\u094d\u091f \u092b\u0940\u091a\u0930 \u0915\u0947 \u0906\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0938\u0947 \u092e\u0947\u0930\u0947 \u0932\u093f\u090f \u0915\u093e\u0930 \u0915\u094b \u092a\u093e\u0930\u094d\u0915 \u0915\u0930\u0928\u0947 \u0915\u093e \u0924\u0930\u0940\u0915\u093e \u090f\u0915\u0926\u092e \u092c\u0926\u0932 \u0917\u092f\u093e \u0939\u0948\u0964", "\u0907\u0938\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947, \u0932\u0947\u0935\u0932 3 \u0921\u0947\u091f\u093e \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0938\u0947 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u093e \u0905\u0928\u0941\u092d\u0935 \u090f\u0915\u0926\u092e \u092c\u0926\u0932 \u0917\u092f\u093e \u0939\u0948\u0964", "\u0932\u0947\u0935\u0932 3 \u092f\u093e 20 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u090f\u0915 \u0905\u0928\u094b\u0916\u093e \u092b\u0940\u091a\u0930 \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u0915\u0908 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0939\u0948\u0964 \u0906\u092a\u0928\u0947 \u0905\u0917\u0930 \u0915\u093f\u0938\u0940 \u0938\u0902\u0938\u094d\u0925\u093e \u0915\u0947 \u0907\u0902\u0938\u094d\u091f\u0940\u091f\u094d\u092f\u0942\u0936\u0928\u0932 \u0921\u0947\u0938\u094d\u0915 \u092a\u0930 \u092c\u0948\u0920\u0915\u0930 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0915\u0940 \u0939\u0948, \u0924\u094b, \u0932\u0947\u0935\u0932 3 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093f\u0902\u0921\u094b \u0915\u093e \u092e\u0939\u0924\u094d\u0935 \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u092e\u0947\u0902 \u0906\u090f\u0917\u093e\u0964 \u0906\u092e \u0930\u0940\u091f\u0947\u0932 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0907\u0938 \u092b\u0940\u091a\u0930 \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u092c\u0939\u0941\u0924 \u0906\u0938\u093e\u0928 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0905\u092d\u0940 \u0924\u0915 \u092f\u0939 \u092b\u0940\u091a\u0930 \u0915\u0939\u0940\u0902 \u092a\u0930 \u0909\u092a\u0932\u092c\u094d\u0927 \u0928\u0939\u0940\u0902 \u0925\u093e\u0964 \u091c\u0940\u0930\u094b\u0927\u093e \u0928\u0947 \u0939\u093e\u0932 \u0939\u0940 \u092e\u0947\u0902 \u0907\u0938 \u092b\u0940\u091a\u0930 \u0915\u094b \u092d\u093e\u0930\u0924\u0940\u092f \u0930\u0940\u091f\u0947\u0932 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u093e\u092f\u093e \u0939\u0948\u0964", "\u0907\u0938 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u0907\u0938\u0940 \u092b\u0940\u091a\u0930 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u0924\u093e\u090f\u0902\u0917\u0947 \u0914\u0930 \u092f\u0939 \u092c\u0924\u093e\u090f\u0902\u0917\u0947 \u0915\u093f \u0907\u0938\u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0906\u092a \u0905\u092a\u0928\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u094d\u091f\u094d\u0930\u0948\u091f\u091c\u0940 \u0915\u0948\u0938\u0947 \u092c\u0928\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u0917\u0930 \u0906\u092a \u0907\u0938\u0915\u094b \u092c\u093f\u0932\u094d\u0915\u0941\u0932 \u092d\u0940 \u0928\u0939\u0940\u0902 \u0938\u092e\u091d\u0924\u0947 \u0924\u094b \u092e\u0948\u0902 \u0938\u0932\u093e\u0939 \u0926\u0942\u0902\u0917\u093e \u0915\u093f \u0906\u092a \u0907\u0938 \u092c\u094d\u0932\u0949\u0917 \u0915\u094b \u092a\u0922\u093c\u0947\u0902, \u0907\u0938\u0938\u0947 \u0906\u092a\u0915\u094b \u0932\u0947\u0935\u0932 3 \u0921\u093e\u091f\u093e \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0915\u0941\u091b \u091c\u0930\u0942\u0930\u0940 \u092c\u093e\u0924\u0947\u0902 \u092a\u0924\u093e \u091a\u0932 \u091c\u093e\u090f\u0902\u0917\u0940\u0964", "\u0905\u0917\u0930 \u0906\u092a \u0907\u0938\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0924\u0947 \u0939\u0947 \u0924\u094b \u092f\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u0906\u092a\u0915\u094b \u0907\u0938\u0915\u0947 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0909\u092a\u092f\u094b\u0917\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u0924\u093e\u090f\u0917\u093e\u0964", "20 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u0911\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u0911\u092a\u094d\u0936\u0928 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u094b \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0940 \u0909\u092a\u094d\u0932\u092d\u094d\u0927\u093f \u0915\u0940 \u092c\u0947\u0939\u0924\u0930 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0947\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0907\u0928 \u0938\u094c\u0926\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0938\u0939\u0940 \u0915\u0940\u092e\u0924 \u091a\u0941\u0928\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938 \u092e\u0926\u0926 \u0915\u0947 \u092c\u093f\u0928\u093e \u0907\u0932\u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f (illiquid contract) \u0915\u094b \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u093e \u090f\u0915 \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0915\u093e\u092e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u092e\u0948\u0902 \u092d\u0932\u0947 \u0939\u0940 \u092f\u0939\u093e\u0902 \u092a\u0930 \u0938\u093f\u0930\u094d\u092b \u0911\u092a\u094d\u0936\u0928 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0940 \u092c\u093e\u0924 \u0915\u0930 \u0930\u0939\u093e \u0939\u0942\u0902 \u0932\u0947\u0915\u093f\u0928 \u0906\u092a \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u092d\u0940 \u0907\u0938\u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u0916\u093e\u0938\u0915\u0930 \u0910\u0938\u0947 \u092b\u094d\u092f\u0942\u091a\u0930 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u091c\u093f\u0928\u092e\u0947\u0902 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u092e \u0939\u094b\u0964", "\u0907\u0938 \u0915\u094b \u092c\u0947\u0939\u0924\u0930 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f 13000 CE \u091c\u094b \u0915\u093f \u091c\u0928\u0935\u0930\u0940 2020 \u092e\u0947\u0902 \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u093e \u0939\u0948 \u0909\u0938\u0915\u0947", "\u0906\u092e \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0938\u092e\u0947\u0902 \u091f\u0949\u092a 5 \u092c\u093f\u0921 \u0914\u0930 \u0906\u0938\u094d\u0915 \u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "", "\u092c\u093e\u0908\u0902 \u0924\u0930\u092b \u0915\u0947 \u0915\u0949\u0932\u092e \u092e\u0947\u0902 \u0939\u092e \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092c\u0939\u0941\u0924 \u0915\u0930\u0940\u092c \u0915\u0930\u0940\u092c \u0915\u0947 \u092c\u093f\u0921 \u0926\u093f\u0916\u093e\u0908 \u0926\u0947 \u0930\u0939\u0947 \u0939\u0948\u0902 \u091c\u092c\u0915\u093f \u0926\u093e\u0939\u093f\u0928\u0940 \u0924\u0930\u092b, \u0911\u092b\u0930 \u0925\u094b\u0921\u093c\u0947 \u092c\u0947\u0939\u0924\u0930 \u0939\u0948\u0902\u0964 \u0905\u0917\u0930 \u0906\u092a \u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u0947 \u0915\u0941\u091b \u0932\u0949\u091f \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0906\u092a \u0907\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0938\u0947 \u0936\u093e\u092f\u0926 \u0925\u094b\u0921\u093c\u093e \u0939\u093f\u091a\u0915\u093f\u091a\u093e\u090f\u0902\u0917\u0947\u0964", "\u0905\u092c \u0932\u0947\u0935\u0932 3 \u0921\u0947\u091f\u093e \u0915\u094b \u0916\u094b\u0932 \u0915\u0930 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0935\u0939\u093e\u0901 \u0915\u094d\u092f\u093e \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948-", "", "\u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0935\u0939\u093e\u0902 \u092a\u0930 \u0914\u0930 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0902 \u091c\u094b \u0915\u093f \u0938\u093e\u0927\u093e\u0930\u0923 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u0908 \u0928\u0939\u0940\u0902 \u0926\u0947\u0924\u0947\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u092c\u093f\u0921 \u0914\u0930 \u0911\u092b\u0930 \u0915\u0940 \u092e\u093e\u0924\u094d\u0930\u093e 8 \u0906\u0920\u0935\u0940\u0902 \u092a\u0902\u0915\u094d\u0924\u093f \u092e\u0947\u0902 \u0915\u093e\u092b\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0902\u0964", "\u0907\u0938 \u0938\u094d\u091f\u094d\u0930\u093e\u0907\u0915 \u092a\u0930 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u092f\u093e \u0928 \u0915\u0930\u0928\u0947 \u0915\u093e \u0906\u092a\u0915\u093e \u092b\u0948\u0938\u0932\u093e \u092c\u093f\u0932\u094d\u0915\u0941\u0932 \u0939\u0940 \u092c\u0926\u0932 \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u092f\u0939 \u092a\u0942\u0930\u0940 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u0906\u092a\u0915\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0938\u094d\u091f\u094d\u0930\u0947\u091f\u091c\u0940 \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0947\u0917\u093e \u0915\u093f \u0906\u092a \u0915\u094d\u092f\u093e \u092b\u0948\u0938\u0932\u093e \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0932\u0947\u0935\u0932 3 \u0921\u093e\u091f\u093e \u0906\u092a\u0915\u094b \u092f\u0939 \u092d\u0940 \u092c\u0924\u093e \u0926\u0947\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a\u0915\u093e \u091f\u094d\u0930\u0947\u0921 \u0915\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092a\u0942\u0930\u093e \u0939\u094b\u0917\u093e\u0964 \u092f\u0939 \u0916\u093e\u0938\u0915\u0930 \u0924\u092c \u092c\u0939\u0941\u0924 \u0915\u093e\u092e \u0906\u0924\u093e \u0939\u0948 \u091c\u092c \u0906\u092a \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u094b \u0938\u094d\u0915\u0948\u0932\u094d\u092a (Scalp) \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u092c \u0906\u092a \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0915\u094b \u0938\u094d\u0915\u0948\u0932\u094d\u092a \u0915\u0930\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b", "\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0906\u092a \u0939\u093f\u0902\u0926\u0941\u0938\u094d\u0924\u093e\u0928 \u091c\u093f\u0902\u0915 \u0915\u0947 5000 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u0914\u0930 \u092c\u0947\u091a\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0938\u093e\u0927\u093e\u0930\u0923 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u0935\u093f\u0902\u0921\u094b \u0906\u092a\u0915\u094b \u092f\u0947 \u0938\u0942\u091a\u0928\u093e \u0926\u0947\u0924\u0940 \u0939\u0948-", "", "\u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092f\u0939\u093e\u0902 \u092a\u0930 \u0906\u092a\u0915\u094b \u092f\u0939 \u0928\u0939\u0940\u0902 \u092a\u0924\u093e \u091a\u0932 \u0930\u0939\u093e \u0915\u093f \u0906\u092a\u0915\u094b 5000 \u0936\u0947\u092f\u0930 \u0915\u0939\u093e\u0902 \u0938\u0947 \u092e\u093f\u0932\u0947\u0902\u0917\u0947\u0964 \u0905\u092c \u091c\u0930\u093e 20 \u0921\u0947\u092a\u094d\u0925 \u0935\u093f\u0902\u0921\u094b \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f-", "", "20 \u0921\u0947\u092a\u094d\u0925 \u0935\u093f\u0902\u0921\u094b \u090f\u0915 \u0905\u0932\u0917 \u0939\u0940 \u0924\u0938\u094d\u0935\u0940\u0930 \u092a\u0947\u0936 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u092f\u0939 \u0938\u093f\u0930\u094d\u092b \u092f\u0939 \u0928\u0939\u0940\u0902 \u092c\u0924\u093e\u0924\u093e \u0915\u093f \u092e\u0941\u091d\u0947 5000 \u0936\u0947\u092f\u0930 \u092e\u093f\u0932 \u091c\u093e\u090f\u0902\u0917\u0947, \u092f\u0939 \u092f\u0947 \u092d\u0940 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092e\u0947\u0930\u0947 \u0932\u093f\u090f \u0907\u0928\u0915\u0940 \u0916\u0930\u0940\u0926 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u093f\u0924\u0928\u0940 \u0939\u094b\u0917\u0940\u0964 \u0905\u0917\u0930 \u092e\u0941\u091d\u0947 5000 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0939\u0948\u0902 \u0924\u094b \u092e\u0948\u0902 \u092e\u0941\u091d\u0947 \u0907\u0938 \u0906\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u092e\u0947\u0902 \u20b9 210.5 \u0938\u0947 \u20b9 211.25 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0916\u0930\u0940\u0926\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u092e\u0941\u091d\u0947 \u092f\u0947 \u092d\u0940 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f \u20b9 211 \u092a\u0930 2425 \u0936\u0947\u092f\u0930 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u092f\u0939 \u0939\u0948 \u0915\u093f \u092e\u0948\u0902 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u092e\u0947\u0930\u0940 \u0914\u0938\u0924 \u0915\u0940\u092e\u0924 211 \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u0939\u094b\u0917\u0940 \u0964", "\u0905\u092c \u0905\u0917\u0930 \u092e\u0948\u0902 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0938\u094d\u0915\u0948\u0932\u094d\u092a \u0915\u0930\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0942\u0902 \u0924\u094b \u092e\u0947\u0930\u0947 \u0932\u093f\u090f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 211 \u0938\u0947 \u090a\u092a\u0930 \u0939\u094b\u0928\u0940 \u091a\u093e\u0939\u093f\u090f\u0964 \u0936\u093e\u092f\u0926 211.5 \u092f\u093e \u0909\u0938\u0938\u0947 \u090a\u092a\u0930\u0964 \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0938\u0939\u0940 \u0915\u0940\u092e\u0924 \u0915\u094d\u092f\u093e \u0939\u094b\u0917\u0940 \u0914\u0930 \u0915\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0906\u092a \u092e\u0941\u0928\u093e\u092b\u093e \u0915\u092e\u093e\u090f\u0902\u0917\u0947 (\u0938\u093e\u0930\u0947 \u091a\u093e\u0930\u094d\u091c\u0947\u0938 \u0926\u0947\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926) \u092f\u0939 \u0906\u092a\u0915\u094b \u092c\u094d\u0930\u094b\u0915\u0930\u0947\u091c \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0938\u0947 \u092a\u0924\u093e \u091a\u0932 \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0932\u0947\u0935\u0932 3 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093f\u0902\u0921\u094b \u0938\u0947 \u0906\u092a\u0915\u094b \u092f\u0939 \u092d\u0940 \u092a\u0924\u093e \u091a\u0932 \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0941\u090f \u0906\u092a\u0915\u094b \u0915\u093f\u0924\u0928\u0947 \u0936\u0947\u092f\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u091a\u093e\u0939\u093f\u090f\u0964 \u0905\u092a\u0928\u0940 \u091a\u0930\u094d\u091a\u093e \u0915\u094b \u0906\u0917\u0947 \u092c\u0922\u093c\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e \u092e\u093e\u0928 \u0932\u0947\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u092a\u0948\u0938\u0947 \u092f\u093e \u092a\u0942\u0902\u091c\u0940 \u0915\u0940 \u0915\u092e\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964", "\u090f\u0915 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0938\u093e\u0927\u093e\u0930\u0923 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u092a\u0930-", "", "\u0906\u092a\u0915\u094b \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f \u0905\u0917\u0932\u0947 \u090f\u0915 \u0918\u0902\u091f\u0947 \u092e\u0947\u0902 \u0938\u0940\u092e\u0947\u0902\u0938 1675 \u0938\u0947 1690 \u0924\u0915 \u091c\u093e\u090f\u0917\u093e\u0964 \u091a\u0942\u0902\u0915\u093f \u0906\u092a\u0915\u094b \u092a\u0942\u0902\u091c\u0940 \u092f\u093e\u0928\u0940 \u092a\u0948\u0938\u0947 \u0915\u0940 \u0915\u092e\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948 \u0924\u094b \u0906\u092a \u0915\u093f\u0924\u0928\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0947\u0902\u0917\u0947", "\u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0938\u093e\u0927\u093e\u0930\u0923 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u0935\u093f\u0902\u0921\u094b \u092f\u0939 \u092c\u0924\u093e \u0930\u0939\u0940 \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u0930\u0940\u092c 175 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0932\u0947\u0915\u093f\u0928 20 \u0921\u0947\u092a\u094d\u0925 \u090f\u0915 \u0905\u0932\u0917 \u0924\u0938\u094d\u0935\u0940\u0930 \u092a\u0947\u0936 \u0915\u0930\u0924\u093e \u0939\u0948 \u2013", "", "\u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902, \u0907\u0938 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u092c\u0947\u0938\u094d\u091f \u092c\u093f\u0921 \u0914\u0930 \u0906\u0938\u094d\u0915 \u0915\u0947 \u0928\u0940\u091a\u0947 \u0939\u0948 \u0914\u0930 \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u092d\u0940 \u0920\u0940\u0915 \u0939\u0948\u0964 \u0938\u093e\u0927\u093e\u0930\u0923 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u0935\u093f\u0902\u0921\u094b \u092f\u0939 \u0926\u093f\u0916\u093e \u0928\u0939\u0940\u0902 \u0926\u093f\u0916\u093e \u0930\u0939\u093e \u0925\u093e\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0915\u093f \u0906\u092a \u0915\u0930\u0940\u092c 1500 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0906\u092a\u0915\u094b 1675.5 \u0938\u0947 1678 \u0915\u0947 \u092c\u0940\u091a \u092e\u0947\u0902 \u0915\u0940\u092e\u0924 \u0905\u0926\u093e \u0915\u0930\u0928\u0940 \u092a\u0921\u093c\u0947\u0917\u0940\u0964 \u092f\u093e\u0928\u0940 \u0907\u0938\u0915\u093e \u0938\u094d\u092a\u094d\u0930\u0947\u0921 \u0939\u0941\u0906 0.149", "\u0905\u092c \u0905\u0917\u0930 \u0906\u092a\u0915\u094b \u092f\u0939 \u092a\u0915\u094d\u0915\u093e \u0939\u0948 \u0915\u093f \u0938\u094d\u091f\u0949\u0915 \u0906\u092a\u0915\u0940 \u091f\u093e\u0930\u0917\u0947\u091f \u0915\u0940\u092e\u0924 1690 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a \u091c\u093e\u090f\u0917\u093e, \u0924\u094b \u0906\u092a \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0909\u0938 \u0938\u092e\u092f \u092e\u094c\u091c\u0942\u0926 \u0938\u092d\u0940 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "\u092a\u094b\u091c\u0940\u0936\u0928 \u0938\u093e\u0907\u091c\u093f\u0902\u0917 \u0915\u0947 \u0939\u0940 \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0915\u094b \u0906\u0917\u0947 \u092c\u0922\u093c\u093e\u0924\u0947 \u0939\u0941\u090f \u0906\u092a 20 \u0921\u0947\u092a\u094d\u0925 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0938\u094d\u091f\u0949\u092a \u0932\u0949\u0938 \u092a\u0924\u093e \u0915\u0930\u0928\u0947 \u0914\u0930 \u0932\u093f\u092e\u093f\u091f \u0911\u0930\u094d\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u092d\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u0906\u092a\u0915\u094b \u0935\u0940\u090f\u0938\u091f\u0940 \u091f\u093f\u0932\u0930\u094d\u0938 (VST Tillers) \u092e\u0947\u0902 1313.8 \u092a\u0930 \u090f\u0915 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u092a\u094b\u091c\u0940\u0936\u0928 \u0932\u0947\u0928\u0940 \u0939\u0948\u0964", "", "\u0938\u0935\u093e\u0932 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0906\u092a \u0907\u0938 \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u0905\u092a\u0928\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u0939\u093e\u0902 \u0932\u0917\u093e\u090f\u0902\u0917\u0947 \u0915\u094d\u092f\u093e 20 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u0907\u0938\u092e\u0947\u0902 \u0906\u092a\u0915\u0940 \u092e\u0926\u0926 \u0915\u0930 \u0938\u0915\u0924\u093e \u0939\u0948", "\u0939\u093e\u0902 \u0906\u092a \u091c\u0930\u093e \u0935\u0940\u090f\u0938\u091f\u0940 \u091f\u093f\u0932\u0930\u094d\u0938 \u0915\u0947 \u0932\u093f\u090f 20 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0921\u0947\u092a\u094d\u0925 \u0935\u093f\u0902\u0921\u094b \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f 1290 \u092a\u0930 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u092c\u093f\u0921 \u0939\u0948\u0902\u0964 \u0905\u091a\u094d\u091b\u0940 \u092c\u093e\u0924 \u092f\u0939 \u0939\u0948 \u0915\u093f \u0907\u0938\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0906\u0938\u094d\u0915 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u092d\u0940 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0928\u0947 1290 \u092a\u0930 \u0906\u0930\u094d\u0921\u0930 \u0921\u093e\u0932 \u0930\u0916\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938 \u091c\u0917\u0939 \u092a\u0930 \u092a\u094d\u0930\u093e\u0907\u0938 \u090f\u0915\u094d\u0936\u0928 \u0939\u094b\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948\u0964 \u092f\u0939 \u0939\u092e\u0947\u0902 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0939\u093e\u0902 \u092a\u0930 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0930\u0916\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u090f\u0915 \u0938\u092e\u091d\u0926\u093e\u0930 \u091f\u094d\u0930\u0947\u0921\u0930 \u0936\u093e\u092f\u0926 1290 \u092a\u0930 \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0928\u0939\u0940\u0902 \u0930\u0916\u0947\u0917\u093e, \u0909\u0938\u0938\u0947 \u0925\u094b\u0921\u093c\u093e \u0938\u093e \u0928\u0940\u091a\u0947 \u0930\u0916\u0947\u0917\u093e\u0964", "", "\u0905\u0917\u0930 \u092e\u0948\u0902 \u090f\u0915 \u091f\u094d\u0930\u0947\u0921\u0930 \u0939\u0942\u0902 \u0924\u094b 20 \u0921\u0947\u092a\u094d\u0925 \u0915\u094b \u0926\u0947\u0916 \u0915\u0930 \u0936\u093e\u092f\u0926 \u092e\u0948\u0902 \u0905\u092a\u0928\u093e \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 1290 \u092f\u093e \u0909\u0938\u0938\u0947 \u0928\u0940\u091a\u0947 \u0930\u0916\u0942\u0902\u0917\u093e\u0964 \u0936\u093e\u092f\u0926 1287 \u092a\u0930\u0964 \u0907\u0938\u0940 \u0924\u0930\u094d\u0915 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930\u0924\u0947 \u0939\u0941\u090f \u0905\u092a\u0928\u093e \u091f\u093e\u0930\u0917\u0947\u091f 1340 \u092f\u093e 1338.8 \u092a\u0930 \u0930\u0916\u0942\u0902\u0917\u093e\u0964", "\u090a\u092a\u0930 \u0915\u0947 \u0909\u0926\u093e\u0939\u0930\u0923 \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 1290 \u0915\u094b \u0938\u094d\u091f\u0949\u092a\u0932\u0949\u0938 \u0915\u0940\u092e\u0924 \u092e\u093e\u0928\u093e \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u0939\u093e\u0902 \u092a\u0930 \u092c\u0939\u0941\u0924 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u093f\u0921 \u0925\u0947\u0964 \u0926\u0942\u0938\u0930\u0947 \u0936\u092c\u094d\u0926\u094b\u0902 \u092e\u0947\u0902 \u0915\u0939\u0947\u0902 \u0924\u094b \u0939\u092e\u0928\u0947 1290 \u0915\u094b \u0938\u092a\u094b\u0930\u094d\u091f \u0915\u0940\u092e\u0924 \u092e\u093e\u0928\u093e\u0964", "\u092e\u0941\u091d\u0947 \u092f\u0939 \u092a\u0924\u093e \u0915\u0930\u0928\u093e \u092c\u0939\u0941\u0924 \u0939\u0940 \u0930\u094b\u091a\u0915 \u0932\u0917\u093e \u0915\u093f \u0905\u0917\u0930 \u092f\u0939 \u0938\u091a \u0939\u0948 \u0924\u094b \u092f\u0939 \u091a\u093e\u0930\u094d\u091f \u092e\u0947\u0902 \u092d\u0940 \u0926\u093f\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0906\u0907\u090f \u091a\u093e\u0930\u094d\u091f \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902 \u2013", "", "\u0938\u093e\u092b \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948 \u0915\u093f 1296 \u0915\u0947 \u0906\u0938\u092a\u093e\u0938 \u092a\u094d\u0930\u093e\u0907\u0938 \u090f\u0915\u094d\u0936\u0928 \u0939\u094b \u0930\u0939\u093e \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0939\u0940 \u0939\u094b\u0917\u093e \u0915\u093f \u0938\u092a\u094b\u0930\u094d\u091f \u0914\u0930 \u0930\u0947\u091c\u093f\u0938\u094d\u091f\u0947\u0902\u0938 \u090f\u0915 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0915\u0940\u092e\u0924 \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u092c\u0932\u094d\u0915\u093f \u0915\u0940\u092e\u0924 \u0915\u093e \u090f\u0915 \u0926\u093e\u092f\u0930\u093e \u092f\u093e \u0930\u0947\u0902\u091c \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0932\u093f\u090f 1290 \u0938\u0947 1300 \u0924\u0915 \u0907\u0938 \u0938\u094d\u091f\u0949\u0915 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u0907\u0902\u091f\u094d\u0930\u093e\u0921\u0947 \u0938\u092a\u094b\u0930\u094d\u091f \u0926\u093f\u0916\u0924\u093e \u0939\u0948\u0964", "\u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u092a\u094d\u0930\u093e\u0907\u0938 \u090f\u0915\u094d\u0936\u0928 \u0915\u093e \u0938\u093f\u0926\u094d\u0927\u093e\u0902\u0924 \u0915\u0948\u0938\u0947 \u0915\u093e\u092e \u0915\u0930\u0924\u093e \u0939\u0948, \u0907\u0938\u0915\u093e \u092f\u0939 \u090f\u0915 \u0938\u0939\u0940 \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u093f\u0916 \u0930\u0939\u093e \u0939\u0948\u0964", "\u0907\u0938\u0915\u094b \u0926\u0947\u0916\u0928\u0947 \u0915\u093e \u090f\u0915 \u0926\u0942\u0938\u0930\u093e \u0924\u0930\u0940\u0915\u093e \u092f\u0939 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u092a\u0939\u0932\u0947 \u0906\u092a \u0938\u092a\u094b\u0930\u094d\u091f \u0914\u0930 \u0930\u0947\u091c\u093f\u0938\u094d\u091f\u0947\u0902\u0938 \u0915\u0947 \u0938\u094d\u0924\u0930 \u0915\u094b \u0926\u0947\u0916\u0947\u0902 \u0914\u0930 \u0909\u0938\u0915\u0947 \u092c\u093e\u0926 20 \u0921\u0947\u092a\u094d\u0925 \u092e\u0947\u0902 \u091c\u093e\u0915\u0930 \u0926\u0947\u0916\u0947\u0902 \u0915\u093f \u0915\u094d\u092f\u093e \u0935\u0939\u093e\u0901 \u092a\u0930 \u092c\u093f\u0921 \u0914\u0930 \u0911\u092b\u0930 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0902", "", "\u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948 \u0915\u093f \u0905\u092c \u0924\u0915 \u0906\u092a\u0915\u094b \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u092e\u0947\u0902 20 \u0921\u0947\u092a\u094d\u0925 \u0911\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u0915\u0947 \u092b\u093e\u092f\u0926\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0938\u092e\u091d \u092e\u0947\u0902 \u0906 \u0917\u092f\u093e \u0939\u094b\u0917\u093e\u0964", "\u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u0906\u092a \u092c\u093e\u091c\u093e\u0930 \u092a\u0930 \u0905\u092a\u0928\u0940 \u0930\u093e\u092f \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u0938\u0940 \u092d\u0940 \u0924\u0915\u0928\u0940\u0915 (\u091f\u0947\u0915\u094d\u0928\u093f\u0915\u0932 \u092f\u093e \u0915\u094d\u0935\u093e\u0902\u091f\u093f\u091f\u0947\u091f\u093f\u0935 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938) \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0930 \u0930\u0939\u0947 \u0939\u094b\u0902, \u0905\u0902\u0924 \u092e\u0947\u0902 \u092b\u0948\u0938\u0932\u093e, \u0915\u0940\u092e\u0924 \u092a\u0930 \u0906\u0915\u0930 \u0939\u0940 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0939\u0930 \u091f\u094d\u0930\u0947\u0921 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0939\u0940 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0907\u0938\u0932\u093f\u090f \u092a\u094d\u0930\u093e\u0907\u0938 \u090f\u0915\u094d\u0936\u0928 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f 20 \u0921\u0947\u092a\u094d\u0925 \u0935\u093f\u0902\u0921\u094b \u0906\u092a\u0915\u0940 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0940 \u0915\u0941\u0902\u091c\u0940 \u092f\u093e \u091a\u093e\u092d\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0940\u091c\u093f\u090f\u0964", "\u0906\u092a \u0907\u0938 \u0935\u093f\u0902\u0921\u094b \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0948\u0938\u0947 \u0915\u0930\u0947\u0902\u0917\u0947 \u0914\u0930 \u0915\u0948\u0938\u0947 \u0907\u0938\u0915\u0947 \u091c\u0930\u093f\u090f \u0906\u092a \u091f\u094d\u0930\u0947\u0921 \u0915\u0947 \u0932\u093f\u090f \u092e\u094c\u0915\u0947 \u0924\u0932\u093e\u0936\u0947\u0902\u0917\u0947, \u0907\u0938\u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u092a\u0928\u0947 \u0915\u092e\u0947\u0902\u091f \u0939\u092e\u0947\u0902 \u0932\u093f\u0916\u093f\u090f\u0964", "THNX FOR HINDI NOW WE UNDERSTAND UTILISATION OF 20 DEPTH TRADE", "You\u2019re welcome.", "\u0938\u0930 \u092e\u0947\u0930\u0947 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947 20 \u0921\u0947\u092b\u094d\u091f fiture \u0928\u0939\u0940\u0902 \u0906 \u0930\u0939\u093e \u0939\u0948 \u0909\u0938\u0947 \u0936\u0941\u0930\u0942 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947 \u092c\u0924\u093e\u090f \u092e\u0941\u091d\u0947 \u0915\u094d\u092f\u093e \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e \u0906\u092a\u0938\u0947 \u0915\u0947 \u0938\u092a\u094b\u0930\u094d\u091f \u0938\u0947 \u0938\u0902\u092a\u0930\u094d\u0915 \u0928\u0939\u0940\u0902 \u0939\u094b \u0930\u0939\u093e \u0939 \u0915\u0908 \u0926\u093f\u0928\u094b\u0902 \u0938\u0947 \u0915\u094b\u0938\u093f\u0938 \u0915\u0930 \u0930\u0939\u093e \u0939\u0941", "\u0905\u0915\u093e\u0909\u0902\u091f \u0906\u0907\u0921\u0940 no XF5836 \u0939\u0948", "Sir 11980 pe toh seller hai fir price badta kaise hai", "this is very good 20 deft thanks", "Happy Trading.", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/M1-C14-illustration.jpg", "https://zerodha.com/varsity/wp-content/uploads/2019/11/Image-11_opt.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/image-12_opt.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/Image-1_-reg.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/Image-2_20.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/Image-3_sie.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/Image-4_sie20.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/Image-5_buy.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/Image-6_vst.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/Image-7_vst-chart.png", "https://secure.gravatar.com/avatar/fd062070bce0d7fd14d314538b0cedd7?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/86f8048a2fd1dbe8ef3ad403ecfc0834?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/86f8048a2fd1dbe8ef3ad403ecfc0834?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/80774b8f62f717120d4b2008a14afbe8?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/205d934737fa67da3f8dba49866860bd?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "43. Developing New Trading Ideas", "text": ["As any seasoned trader will tell you, the key to long-term profitability is a flair for devising innovative, new trading ideas. Winning strategies are hard to find. And after one goes through all the trouble of developing a lucrative trading strategy, it suddenly stops working. To stay ahead of the pack, it is necessary to find new strategies and opportunities; otherwise, you\u2019ll see a noticeable decline in your overall profits. Here is a basic three-stage framework for generating and critiquing new ideas: (1) Brainstorming, (2), Planning, and (3) Playing devil\u2019s advocate.", "", "In the brainstorming stage, the goal is to create as many new ideas for trading strategies as possible. Be open and allow yourself to think freely. Don\u2019t hold back. Let the motto, \u201cThere is no such thing as a stupid idea,\u201d guide you. Think about what you would want to do if anything were possible. You may come up with some unrealistic ideas, but at this stage, the goal is to generate as many ideas as you can. You don\u2019t want to limit yourself. If you inhibit your creative juices, you may block an innovative idea from entering your consciousness.", "In the planning stage, the goal is to refine your potentially innovative idea. It\u2019s time to move your idea from a vague impression to a concrete and practical plan. Try to work out every detail and think about how you will implement the plan. Think creatively, but think like a realist. What can you realistically do to implement your idea? What signs and signals suggest that market conditions are just right to implement your idea? What is a realistic profit objective for your idea? How will you limit your risk? What is your exit strategy? The more detailed the plan, the more easily it will be to follow. You will be able to evaluate its potential profitability more easily as well.", "The final stage requires you to play devil\u2019s advocate. Now that you have outlined a reasonable plan, it is time to consider what is wrong with it. This is a key stage. It has been said that brilliant trendsetters are those who can distinguish a truly creative idea from a pipedream. It\u2019s vital to be a harsh critic. In this stage, it\u2019s useful to assume that most trading ideas are \u201cbad ideas\u201d and that you must entertain every possible problem with your plan. Even the most logically consistent idea may fail under actual market conditions. What basis do you have for believing that your strategy will work? What assumptions did you make when devising your plan? Are they reasonable? What is the worst-case scenario? A skeptical approach can prevent losses, so it is essential to find every possible flaw, and either fix the plan or ditch it.", "By following this three-stage method of brainstorming, planning, and critiquing, you can devise innovative trading strategies that will keep you profitable under continually changing market conditions.", "", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2020/01/Innerworth_43-300x287.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "9. \u0928\u093f\u092b\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938", "text": ["\u092d\u093e\u0930\u0924 \u0915\u0947 \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0928\u093f\u092b\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u093e \u0905\u092a\u0928\u093e \u090f\u0915 \u0916\u093e\u0938 \u0938\u094d\u0925\u093e\u0928 \u0939\u0948\u0964 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948 \u0914\u0930 \u092f\u0939 \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u0936\u093e\u092f\u0926 \u092f\u0939 \u0928\u0939\u0940\u0902 \u092a\u0924\u093e \u0939\u094b\u0917\u093e \u0932\u0947\u0915\u093f\u0928 \u0928\u093f\u092b\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0926\u0941\u0928\u093f\u092f\u093e \u0915\u0947 10 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0947 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0939\u0948 \u091c\u093f\u0928\u0915\u0940 \u091f\u094d\u0930\u0947\u0921\u093f\u0902\u0917 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u090f\u0915 \u092c\u093e\u0930 \u091c\u092c \u0906\u092a \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u0930\u0928\u093e \u0938\u0940\u0916 \u091c\u093e\u090f\u0902\u0917\u0947 \u0924\u094b \u092e\u0947\u0930\u093e \u092e\u093e\u0928\u0928\u093e \u0939\u0948 \u0915\u093f \u092c\u093e\u0915\u0940 \u0932\u094b\u0917\u094b\u0902 \u0915\u0940 \u0924\u0930\u0939 \u0906\u092a \u092d\u0940 \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u091c\u0930\u0942\u0930 \u0915\u0930\u0947\u0902\u0917\u0947 \u0914\u0930 \u0907\u0938\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0928\u093f\u092b\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u094b \u0920\u0940\u0915 \u0938\u0947 \u0938\u092e\u091d\u0928\u093e \u092c\u0939\u0941\u0924 \u091c\u094d\u092f\u093e\u0926\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0906\u0917\u0947 \u092c\u0922\u093c\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u092e\u0947\u0930\u093e \u0906\u092a\u0938\u0947 \u0905\u0928\u0941\u0930\u094b\u0927 \u0939\u0948 \u0915\u093f \u090f\u0915 \u092c\u093e\u0930 \u0906\u092a \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u092a\u0928\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u094b \u092b\u093f\u0930 \u0938\u0947 \u0926\u094b\u0939\u0930\u093e \u0932\u0947\u0902\u0964 \u0907\u0938 \u091c\u0917\u0939 \u092a\u0930 \u0939\u092e\u0928\u0947 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0925\u0940\u0964", "\u092e\u0948\u0902 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0930\u0924\u093e \u0939\u0942\u0902 \u0915\u093f \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0905\u092c \u0906\u092a\u0915\u094b \u092a\u0942\u0930\u0940 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0939\u0948 \u0914\u0930 \u0907\u0938\u0940\u0932\u093f\u090f \u0905\u092c \u0939\u092e \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092f\u093e \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0940 \u0924\u0930\u092b \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0907\u0902\u0938\u094d\u091f\u094d\u0930\u0942\u092e\u0947\u0902\u091f \u0921\u0947\u0930\u093f\u0935\u0947\u091f\u093f\u0935 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u093e \u090f\u0915 \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u0948\u0902 \u0914\u0930 \u092f\u0939 \u0905\u092a\u0928\u0947 \u0905\u0902\u0921\u0930\u0932\u093e\u0907\u0902\u0917 \u090f\u0938\u0947\u091f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u0938\u093e\u0925 \u0938\u093e\u0925 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092d\u0940 \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u0907\u0902\u0921\u0947\u0915\u094d\u0938 \u0915\u0947 \u090a\u092a\u0930 \u092f\u093e \u0928\u0940\u091a\u0947 \u0917\u093f\u0930\u0928\u0947 \u092a\u0930 \u0938\u093e\u0925\u2013\u0938\u093e\u0925 \u091a\u0932\u0924\u093e \u0939\u0948\u0964", "\u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0947 \u0938\u094d\u0928\u0948\u092a\u0936\u0949\u091f (Snapshot) \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902", "", "\u0915\u093f\u0938\u0940 \u092d\u0940 \u0926\u0942\u0938\u0930\u0947 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u0940 \u0924\u0930\u0939 \u0928\u093f\u092b\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092d\u0940 \u0924\u0940\u0928 \u092a\u094d\u0930\u0915\u093e\u0930 \u0915\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u2013 \u0915\u0930\u0947\u0902\u091f \u092e\u0902\u0925 (Current month), \u00a0\u092e\u093f\u0921 \u092e\u0902\u0925 (Mid month) \u0914\u0930 \u092b\u0949\u0930 \u092e\u0902\u0925 (Far month)\u0964 \u092e\u0948\u0902\u0928\u0947 \u0907\u0928\u0915\u0940 \u090f\u0915\u094d\u0938\u092a\u093e\u092f\u0930\u0940 \u0915\u094b \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0939\u0941\u0906 \u0939\u0948\u0964 \u092e\u0948\u0902\u0928\u0947 \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u092d\u0940 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0939\u0941\u0906 \u0939\u0948 \u091c\u094b \u0915\u093f \u20b911484.9 \u092a\u094d\u0930\u0924\u093f \u092f\u0942\u0928\u093f\u091f \u092a\u0930 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0964 \u0938\u094d\u0915\u094d\u0930\u0940\u0928\u0936\u0949\u091f \u0932\u0947\u0928\u0947 \u0915\u0947 \u0938\u092e\u092f \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u0915\u0940 \u0938\u094d\u092a\u0949\u091f \u0915\u0940\u092e\u0924 \u20b911470.70 \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092d\u0940 \u0938\u094d\u092a\u0949\u091f \u0915\u0940\u092e\u0924 \u0914\u0930 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u091c\u094b \u0905\u0902\u0924\u0930 \u0939\u0948 \u0935\u0939 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u0947 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0939\u0940 \u0939\u0948\u0964 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u0947 \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u0947 \u0915\u094b \u0939\u092e \u0905\u0917\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0938\u092e\u091d\u0947\u0902\u0917\u0947\u0964", "\u0906\u092a \u092f\u0939 \u092d\u0940 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0932\u0949\u091f \u0938\u093e\u0907\u091c 75 \u0915\u093e \u0939\u0948\u0964 \u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0935\u0948\u0932\u094d\u092f\u0942 \u2013", "CV = \u00a0\u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0940 \u0915\u0940\u092e\u0924 \u00d7 \u0932\u0949\u091f \u0938\u093e\u0907\u091c", "CV = Futures Price * Lot Size", "= 11484.90 \u00d7 75", "= \u20b9 861,367", "\u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u0924\u0928\u0940 \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0932\u0917\u0947\u0917\u0940 \u092f\u0939 \u092a\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0939\u092e\u0928\u0947 \u091c\u0947\u0930\u094b\u0927\u093e \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f\u0930 \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u0914\u0930 \u0939\u092e\u0947\u0902 \u091c\u094b \u092e\u093e\u0930\u094d\u091c\u093f\u0928 \u092a\u0924\u093e \u091a\u0932\u0940\u2013", "", "\u090a\u092a\u0930 \u0926\u0940 \u0917\u0908 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0905\u092c \u0906\u092a \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u094b \u0925\u094b\u0921\u093c\u093e \u092c\u0939\u0941\u0924 \u091c\u093e\u0928 \u091a\u0941\u0915\u0947 \u0939\u0948\u0902\u0964 \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0940 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0940 \u0916\u093e\u0938\u093f\u092f\u0924 \u0909\u0938\u0915\u0940 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0935\u0939 \u0907\u0924\u0928\u093e \u0932\u094b\u0915\u092a\u094d\u0930\u093f\u092f \u0939\u0948\u0964 \u0906\u0907\u090f \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u094d\u092f\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0915\u094b \u0915\u0948\u0938\u0947 \u0928\u093e\u092a\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0906\u092a \u092c\u093e\u0930-\u092c\u093e\u0930 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0936\u092c\u094d\u0926 \u0915\u094b \u0938\u0941\u0928\u0924\u0947 \u0939\u094b\u0902\u0917\u0947\u0964 \u0906\u092e \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0915\u0939\u0947\u0902 \u0924\u094b \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0935\u0939 \u091a\u0940\u091c \u0939\u0948 \u091c\u094b \u0906\u092a\u0915\u094b \u0915\u093f\u0938\u0940 \u092d\u0940 \u0938\u094d\u091f\u0949\u0915 \u092f\u093e \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0915\u094b \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u092c\u0947\u091a\u0928\u0947 \u0914\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0940 \u0938\u0939\u0942\u0932\u093f\u092f\u0924 \u0926\u0947\u0924\u093e \u0939\u0948\u0964 \u091c\u094b \u0938\u094d\u091f\u0949\u0915 \u091c\u094d\u092f\u093e\u0926\u093e \u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u0939\u094b\u0924\u093e \u0939\u0948 \u0909\u0938\u092e\u0947\u0902 \u092c\u0921\u093c\u0947 \u091f\u094d\u0930\u0947\u0921\u0930 \u0915\u093f\u0924\u0928\u0940 \u092d\u0940 \u092c\u0921\u093c\u0940 \u092e\u093e\u0924\u094d\u0930\u093e \u092e\u0947\u0902 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926 \u0914\u0930 \u092c\u0947\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0938\u0938\u0947 \u0938\u094d\u091f\u0949\u0915 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0915\u094b\u0908 \u092c\u0921\u093c\u093e \u0905\u0938\u0930 \u0928\u0939\u0940\u0902 \u092a\u0921\u093c\u0924\u093e\u0964 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092c\u0921\u093c\u0947 \u0916\u093f\u0932\u093e\u0921\u093c\u0940 \u092f\u093e\u0928\u0940 \u0907\u0902\u0938\u094d\u091f\u0940\u091f\u094d\u092f\u0942\u0936\u0928\u0932 \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u0930 \u092d\u0940 \u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u093f\u0938 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0924\u0940 \u0939\u0948 \u0935\u0939\u093e\u0902 \u092a\u0930 \u0935\u094b\u0932\u0948\u091f\u093f\u0932\u093f\u091f\u0940 \u092d\u0940 \u0915\u092e \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0905\u0917\u0930 \u0938\u094d\u091f\u0949\u0915 \u091c\u094d\u092f\u093e\u0926\u093e \u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u0939\u0948 \u0924\u094b \u0909\u0938\u092e\u0947\u0902 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0906\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0928\u093e \u092d\u0940 \u0906\u0938\u093e\u0928 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u094b \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 MRF \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0915\u094b \u0932\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f \u090f\u0915 \u0935\u093f\u0926\u0947\u0936\u0940 \u0928\u093f\u0935\u0947\u0936 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0928\u093f\u0935\u0947\u0936\u0915 MRF \u0915\u0947 5000 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u093e \u0939\u0948\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u0939\u0948 \u0915\u093f MRF \u0915\u0940\u092e\u0924 \u0915\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 \u0938\u092c\u0938\u0947 \u092e\u0939\u0902\u0917\u0947 \u0938\u094d\u091f\u0949\u0915\u094d\u0938 \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u090f\u0915 \u0936\u0947\u092f\u0930 \u20b938000 \u0915\u0947 \u0906\u0938\u2013\u092a\u093e\u0938 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f 5000 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0916\u0930\u0940\u0926\u0928\u0947 \u092a\u0930 \u092f\u0939 \u0938\u094c\u0926\u093e \u20b920 \u0915\u0930\u094b\u0921\u093c \u0915\u0947 \u0906\u0938\u2013\u092a\u093e\u0938 \u0915\u093e \u0939\u094b\u0917\u093e\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f 20 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u0938\u094c\u0926\u093e \u0915\u093f\u0938\u0940 \u092d\u0940 \u0935\u093f\u0926\u0947\u0936\u0940 \u0938\u0902\u0938\u094d\u0925\u093e\u0917\u0924 \u0928\u093f\u0935\u0947\u0936\u0915 \u0915\u0947 \u0932\u093f\u090f \u0915\u094b\u0908 \u092c\u0921\u093c\u093e \u0938\u094c\u0926\u093e \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0916\u0948\u0930, \u0905\u092d\u0940 \u0906\u0917\u0947 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0905\u0917\u0930 \u0935\u0939 5000 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 MRF \u0915\u0940 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u0948\u0938\u0940 \u0939\u0948? \u0907\u0938\u0915\u0947 \u0932\u093f\u090f NSE \u0915\u0940 \u0935\u0947\u092c\u0938\u093e\u0907\u091f \u0938\u0947 \u0932\u093f\u090f \u0917\u090f MRF \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u0911\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902", "", "\u0905\u0917\u0930 \u0906\u092a \u091c\u094d\u092f\u093e\u0926\u093e \u092e\u093e\u0924\u094d\u0930\u093e \u092e\u0947\u0902 \u0915\u093f\u0938\u0940 \u0936\u0947\u092f\u0930 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u093e \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0947 \u0906\u092a\u0915\u094b \u092f\u0939 \u0926\u0947\u0916\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0909\u0938\u0915\u0947 \u0915\u093f\u0924\u0928\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0947 \u091c\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u090a\u092a\u0930 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 MRF \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u0915\u0947\u0935\u0932 4313 \u0936\u0947\u092f\u0930 \u0939\u0940 \u092c\u0947\u091a\u0947 \u091c\u093e \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u094b \u092f\u0939\u093e\u0902 \u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u0915\u0947 \u0924\u0940\u0930 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f \u0907\u0938 \u0938\u094c\u0926\u0947 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u091c\u093f\u0924\u0928\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0939\u0948 \u0909\u0924\u0928\u0947 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0939\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0902\u0964 \u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f MRF \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u093e \u0938\u094d\u091f\u0949\u0915 \u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u094b \u092a\u0924\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u092c\u093f\u0921 \u0906\u0938\u094d\u0915 \u0938\u094d\u092a\u094d\u0930\u0947\u0921 (Bid Ask Spread) \u0915\u094b \u092d\u0940 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0909\u0938\u0915\u0940 \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u092d\u0940 \u0932\u0917\u093e \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0911\u0930\u094d\u0921\u0930 \u0915\u0947 \u0932\u093f\u090f \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0915\u094b \u091c\u093e\u0928\u0928\u093e \u0915\u093e\u092b\u0940 \u092e\u0926\u0926\u0917\u093e\u0930 \u0938\u093e\u092c\u093f\u0924 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0935\u0939 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u0948 \u091c\u094b \u0930\u093e\u0909\u0902\u0921 \u091f\u094d\u0930\u093f\u092a (Round-trip) \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938 \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u094b \u092c\u093f\u0921 \u0914\u0930 \u0906\u0938\u094d\u0915 (Bid and Ask) \u0915\u0940\u092e\u0924 \u0915\u0947 \u0914\u0938\u0924 \u0915\u0947 \u092a\u094d\u0930\u0924\u093f\u0936\u0924 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u092c\u0924\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0930\u093e\u0909\u0902\u0921 \u091f\u094d\u0930\u093f\u092a \u091f\u094d\u0930\u0947\u0921 \u090f\u0915 \u0910\u0938\u093e \u0938\u094c\u0926\u093e \u0939\u0948 \u091c\u093f\u0938\u092e\u0947\u0902 \u0906\u092a \u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0936\u0947\u092f\u0930 \u092c\u0947\u091a \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0938\u094c\u0926\u093e MRF \u092e\u0947\u0902 \u0915\u0930 \u0915\u0947 \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964(\u090a\u092a\u0930 \u0926\u093f\u090f \u0917\u090f \u0911\u0930\u094d\u0921\u0930 \u092c\u0941\u0915 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930)\u2013", "\u0916\u0930\u0940\u0926 \u0915\u0940\u092e\u0924 \u2013 \u00a0\u20b938364.95", "\u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0940\u092e\u0924 \u2013 \u00a0\u20b938266.25", "\u0905\u0917\u0930 \u092e\u0941\u091d\u0947 \u092f\u0939 \u0930\u093e\u0909\u0902\u0921\u091f\u094d\u0930\u093f\u092a \u0915\u0930\u0928\u093e \u0939\u094b\u0917\u093e \u0924\u094b \u092e\u0948\u0902 \u0907\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0905\u092a\u0928\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u0930 \u092c\u0948\u0920\u0942\u0902\u0917\u093e\u0964 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902, \u0938\u093e\u0930\u0947 \u0930\u093e\u0909\u0902\u0921\u091f\u094d\u0930\u093f\u092a \u0938\u094c\u0926\u0947 \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u0940 \u0915\u0930\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938 \u0938\u094c\u0926\u0947 \u092e\u0947\u0902 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0939\u0948\u2013", "= 38364.95 \u2013 38266.25", "= \u20b9 98.7", "\u092c\u093f\u0921 \u0914\u0930 \u0906\u0938\u094d\u0915 \u0915\u093e \u0914\u0938\u0924 \u0939\u094b\u0917\u093e \u2013", "= (38364.95+38266.25)/2", "= \u00a0\u20b938315.60", "\u0924\u094b \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0939\u094b\u0917\u0940 \u2013", "\u0930\u093e\u0909\u0902\u0921 \u091f\u094d\u0930\u093f\u092a \u0928\u0941\u0915\u0938\u093e\u0928 / \u092c\u093f\u0921 \u0906\u0938\u094d\u0915 \u0915\u093e \u0914\u0938\u0924", "= 98.7 / 38315.60", "= 0.3%", "\u0924\u094b \u0905\u092c \u0906\u092a \u0907\u0938 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0939\u093e\u0901 \u0915\u0930\u0947\u0902\u0917\u0947? \u092f\u0939\u093e\u0902 \u092a\u0930 \u0907\u0938\u0915\u093e \u0938\u0940\u0927\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u0906\u092a \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0907\u0938 \u0938\u094d\u091f\u0949\u0915 \u0915\u094b \u0916\u0930\u0940\u0926\u0928\u0947 \u092f\u093e \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0906\u0930\u094d\u0921\u0930 \u0921\u093e\u0932\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 0.3% \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u090f\u0902\u0917\u0947\u0964 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f \u0939\u092e\u0947\u0936\u093e \u0939\u0930 \u091f\u094d\u0930\u0947\u0921 \u092e\u0947\u0902 \u0910\u0938\u093e \u0928\u093e \u0939\u094b \u0932\u0947\u0915\u093f\u0928 \u0906\u092a\u0915\u094b \u0907\u0938 \u092c\u093e\u0924 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0930\u0939\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u092f\u0939 \u0907\u0938 \u092a\u0930 \u092d\u0940 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0906\u092a \u0915\u093f\u0924\u0928\u0947 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u0938\u094c\u0926\u093e \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0947 \u0939\u0948\u0902\u0964 \u0924\u094b \u0905\u0917\u0932\u0940 \u092c\u093e\u0930 \u091c\u092c \u0906\u092a \u0905\u092a\u0928\u0947 \u092c\u094d\u0930\u094b\u0915\u0930 \u0915\u094b \u0915\u094b\u0908 \u092d\u0940 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u0947 \u092f\u093e \u092c\u0947\u091a\u0928\u0947 \u0915\u093e \u0911\u0930\u094d\u0921\u0930 \u0926\u0947\u0902 \u0924\u094b \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0938\u094d\u0915\u094d\u0930\u0940\u0928 \u092a\u0930 \u0906\u092a\u0915\u094b \u091c\u094b \u0915\u0940\u092e\u0924 \u0926\u093f\u0916 \u0930\u0939\u0940 \u0939\u0948 \u0914\u0930 \u091c\u093f\u0938 \u0915\u0940\u092e\u0924 \u092a\u0930 \u092c\u094d\u0930\u094b\u0915\u0930 \u0935\u0939 \u0938\u094c\u0926\u093e \u0915\u0930\u0947\u0917\u093e \u0926\u094b\u0928\u094b\u0902 \u092e\u0947\u0902 \u0905\u0902\u0924\u0930 \u0939\u094b\u0917\u093e \u0914\u0930 \u092f\u0939 \u0905\u0902\u0924\u0930 \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "0.3% \u0915\u093e \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0915\u093e\u092b\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u094b \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u0938\u092e\u091d\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u092c\u093e\u0930 \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0947 \u090f\u0915 \u0938\u094c\u0926\u0947 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0935\u0939 \u0915\u0940\u092e\u0924 \u091c\u093f\u0938 \u092a\u0930 \u0906\u092a \u0916\u0930\u0940\u0926 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 = 11484.95", "", "\u0935\u0939 \u0915\u0940\u092e\u0924 \u091c\u093f\u0938 \u092a\u0930 \u0906\u092a \u092c\u0947\u091a \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 = 11484.00", "\u0930\u093e\u0909\u0902\u0921 \u091f\u094d\u0930\u093f\u092a \u0928\u0941\u0915\u0938\u093e\u0928 = 0.95 (11484.95 \u2013 11484)", "\u092c\u093f\u0921 \u0914\u0930 \u0906\u0938\u094d\u0915 \u0915\u093e \u0914\u0938\u0924 = (11484+11484.95)/2", "= 11484.47", "\u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f = 0.95/11484.47", "= 0.0082%", "\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u0905\u0917\u0930 \u0906\u092a \u0928\u093f\u092b\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u094b \u092c\u093e\u091c\u093e\u0930 \u0915\u0940\u092e\u0924 \u092a\u0930 \u0916\u0930\u0940\u0926\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b 0.0082% \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0909\u0920\u093e\u0928\u093e \u092a\u0921\u093c \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0905\u0917\u0930 \u0907\u0938\u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u0906\u092a MRF \u0915\u0947 \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f 0.3% \u0938\u0947 \u0915\u0930\u0947\u0902\u0917\u0947 \u0924\u094b \u0906\u092a\u0915\u094b \u0938\u092e\u091d \u092e\u0947\u0902 \u0906\u090f\u0917\u093e \u0915\u093f \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u093e \u0915\u094d\u092f\u093e \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0905\u092c \u0924\u0915 \u0915\u0940 \u092c\u093e\u0924\u091a\u0940\u0924 \u0938\u0947 \u091c\u094b \u0916\u093e\u0938 \u092c\u093e\u0924\u0947\u0902 \u0928\u093f\u0915\u0932\u0940 \u0939\u0948\u0902, \u0935\u0939 \u0939\u0948\u0902\u2013", "\u0939\u092e\u0947\u0902 \u092a\u0924\u093e \u0939\u0948 \u0915\u093f \u0928\u093f\u092b\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092d\u093e\u0930\u0924\u0940\u092f \u092c\u093e\u091c\u093e\u0930\u094b\u0902 \u0915\u0947 \u0938\u092c\u0938\u0947 \u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915 \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f 0.0082% \u0915\u094b \u090f\u0915 \u092c\u0947\u0902\u091a\u092e\u093e\u0930\u094d\u0915 \u092e\u093e\u0928\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0940 \u0906\u0927\u093e\u0930 \u092a\u0930 \u092f\u0939 \u0915\u0939\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948 \u0915\u093f MRF \u0915\u093e 0.3% \u0915\u093e \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u092c\u0939\u0941\u0924 \u0939\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964\u00a0 \u0907\u0938\u0940 \u0938\u0947 \u092f\u0947 \u0938\u093e\u092b \u0939\u0948 \u0915\u093f MRF \u092c\u0939\u0941\u0924 \u0939\u0940 \u0915\u092e \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0935\u093e\u0932\u093e \u0938\u094d\u091f\u0949\u0915 \u0939\u0948\u0964 \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u0910\u0938\u0947 \u0939\u0948\u0902 \u091c\u094b \u0915\u093f \u0915\u093e\u092b\u0940 \u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u0939\u0948\u0902 \u091c\u0948\u0938\u0947 \u092c\u0948\u0902\u0915 \u0928\u093f\u092b\u093c\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938, \u0930\u093f\u0932\u093e\u092f\u0902\u0938 \u0907\u0902\u0921\u0938\u094d\u091f\u094d\u0930\u0940\u091c, \u091f\u093e\u091f\u093e \u092e\u094b\u091f\u0930\u094d\u0938, \u0938\u094d\u091f\u0947\u091f \u092c\u0948\u0902\u0915 \u0911\u092b \u0907\u0902\u0921\u093f\u092f\u093e, \u0907\u0902\u092b\u094b\u0938\u093f\u0938, TCS ITC, DLF, \u0938\u093f\u092a\u094d\u0932\u093e \u0906\u0926\u093f\u0964 \u0906\u092a \u0907\u0928\u092e\u0947\u0902 \u0938\u0947 \u0915\u0941\u091b \u0915\u093e \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0928\u093f\u0915\u093e\u0932 \u0915\u0930 \u092f\u0939 \u092a\u0924\u093e \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0909\u0928\u0915\u0940 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u093f\u0924\u0928\u0940 \u0939\u0948\u0964", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a\u0915\u094b \u092a\u0924\u093e \u0939\u0948 \u0915\u093f Nifty50\u00a0 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u093e \u090f\u0915 \u0938\u092e\u0942\u0939 \u0939\u0948\u0964 \u0907\u0928 50 \u0936\u0947\u092f\u0930\u094b\u0902 \u0915\u094b \u092d\u093e\u0930\u0924\u0940\u092f \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u0947 \u0905\u0932\u0917-\u0905\u0932\u0917 \u0938\u0947\u0915\u094d\u091f\u0930 \u0938\u0947 \u091a\u0941\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0932\u093f\u090f \u0928\u093f\u092b\u094d\u091f\u0940 \u092d\u093e\u0930\u0924\u0940\u092f \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0915\u093e \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u092a\u094d\u0930\u0924\u093f\u0928\u093f\u0927\u093f\u0924\u094d\u0935 \u0915\u0930\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0938\u094d\u0935\u093e\u092d\u093e\u0935\u093f\u0915 \u0924\u094c\u0930 \u092a\u0930 \u0905\u0917\u0930 \u092d\u093e\u0930\u0924 \u0914\u0930 \u092d\u093e\u0930\u0924\u0940\u092f \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0905\u091a\u094d\u091b\u0947 \u0938\u0947 \u091a\u0932 \u0930\u0939\u0940 \u0939\u0948 \u0924\u094b \u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u0947 \u090a\u092a\u0930 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0940 \u0924\u0930\u0939 \u0905\u0917\u0930 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092e\u0947\u0902 \u0917\u0921\u093c\u092c\u0921\u093c\u0940 \u0939\u0948 \u0924\u094b \u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u0947 \u0928\u0940\u091a\u0947 \u091c\u093e\u0928\u0947 \u0915\u0940 \u0906\u0936\u0902\u0915\u093e \u092c\u0928\u0924\u0940 \u0939\u0948\u0964 \u0905\u092a\u0928\u0940 \u0907\u0938\u0940 \u0916\u0942\u092c\u0940 \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0928\u093f\u092b\u094d\u091f\u0940 \u092b\u094d\u092f\u0942\u091a\u0930\u094d\u0938 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u093e \u0915\u093f\u0938\u0940 \u090f\u0915 \u0938\u094d\u091f\u0949\u0915 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092e\u0941\u0915\u093e\u092c\u0932\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u0947\u0939\u0924\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0928\u093f\u092b\u094d\u091f\u0940 \u092e\u0947\u0902 \u091f\u094d\u0930\u0947\u0921 \u0915\u0930\u0928\u0947 \u0915\u0940 \u0915\u0941\u091b \u0905\u091a\u094d\u091b\u0940 \u0935\u091c\u0939\u094b\u0902 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u2013", "9.2 Impact cost segment me jo calculation example ke taur pe use kiya gaya hai vo shayad sahi nahi hai", "\u0939\u092e\u0947\u0902 Calculation \u092e\u0947\u0902 \u0915\u094b\u0908 \u0935\u093f\u0938\u0902\u0917\u0924\u093f \u0928\u0939\u0940\u0902 \u092e\u093f\u0932\u0924\u0940 \u0939\u0948, \u0915\u0943\u092a\u092f\u093e \u091c\u093e\u0902\u091a \u0915\u0947 \u0932\u093f\u090f Calculation \u092e\u0947\u0902 \u091c\u094b \u0924\u094d\u0930\u0941\u091f\u093f \u0906\u092a\u0915\u094b \u092e\u093f\u0932 \u0930\u0939\u0940 \u0939\u0948, \u0909\u0938\u0947 \u092c\u0924\u093e\u090f\u0902\u0964", "= (38264.95 \u2013 38266.25)/ 2", "\u0938\u0942\u091a\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964 \u0939\u092e\u0928\u0947 \u0915\u0948\u0915\u094d\u0932\u094d\u092f\u0942\u0932\u0947\u0936\u0928 \u0915\u094b \u0920\u0940\u0915 \u0915\u0930 \u0926\u093f\u092f\u093e \u0939\u0948\u0964", "Volume jese 1m h yeah usse jyada h iskke adhar pe liquidity nhi jaan sakte kya", "Hi Laxman, \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u093e \u092a\u0924\u093e \u0932\u0917\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0906\u092a \u0939\u092e\u093e\u0930\u0947 \u0968\u0966 \u0921\u0947\u092a\u094d\u0925 \u0921\u093e\u091f\u093e \u0915\u094b \u091a\u0947\u0915 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092c\u093f\u0921 \u2013 \u0906\u0938\u094d\u0915 \u0938\u094d\u092a\u094d\u0930\u0947\u0921 \u0938\u0947 \u092d\u0940 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u093e \u0905\u0902\u0926\u093e\u095b\u093e \u0932\u0917\u093e\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0914\u0930 NSE \u091c\u094b \u0907\u092e\u094d\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0939\u0930 \u092e\u0939\u0928\u093e \u092a\u092c\u094d\u0932\u093f\u0936 \u0915\u0930\u0924\u0940 \u0939\u0948 \u0909\u0938\u0938\u0947 \u092d\u0940 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0915\u093e \u092a\u0924\u093e \u091a\u0932 \u0938\u0915\u0924\u093e \u0939\u0948\u0964\nhttps://www1.nseindia.com/products/content/equities/indices/impact_cost.htm", "\u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u093e \u0907\u0902\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f 0.0082% \u0939\u0948 \u091c\u094b \u0915\u093f \u0907\u0938\u0947 \u0907\u0938 \u0938\u092e\u092f \u0915\u0947 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u0915\u0949\u0928\u094d\u091f\u094d\u0930\u0948\u0915\u094d\u091f \u092c\u0928\u093e\u0924\u093e \u0939\u0948\u0964\nIska koi aur tarika nhi h kya jese\nValue or valume", "\u0907\u092e\u094d\u092a\u0948\u0915\u094d\u091f \u0915\u0949\u0938\u094d\u091f \u0928\u0940\u091a\u0947 \u0926\u093f\u090f \u0917\u090f \u092b\u093e\u0930\u094d\u092e\u0942\u0932\u093e \u0938\u0947 \u0915\u0948\u0932\u0915\u0941\u0932\u0947\u091f \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964\n(Actual cost \u2013 ideal cost)/ideal cost*\u0967\u0966\u0966\n \u0927\u0928\u094d\u092f\u0935\u093e\u0926\u0964", "Sir\nBank nifty ke bare me bhi batayiye na\u2026\ud83d\ude4f", "Hi Gulshan, \u0915\u0943\u092a\u092f\u093e \u092b\u0941\u091f\u0941\u0930\u0947\u0938 \u0914\u0930 \u0911\u092a\u094d\u0936\u0902\u0938 \u092e\u0949\u0921\u094d\u092f\u0942\u0932 \u0915\u094b \u092e\u093e\u0927\u094d\u092f\u092e \u0938\u0947 \u092a\u0922\u093c\u0947\u0902, \u0939\u092e\u0928\u0947 \u0909\u0928\u092e\u0947\u0902 \u092c\u0948\u0902\u0915\u0928\u093f\u092b\u094d\u091f\u0940 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u0924\u093e\u092f\u093e \u0939\u0948\u0964", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Screenshot_802.png", "https://zerodha.com/varsity/wp-content/uploads/2015/02/M4-Ch9-title.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Image2_MRF.jpg", "https://zerodha.com/varsity/wp-content/uploads/2015/02/Screenshot_803-300x255.png", "https://secure.gravatar.com/avatar/2f6e6f10cba8dcff149e6389410ce013?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/2f6e6f10cba8dcff149e6389410ce013?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/f2598e56174de661b27edf18ee33496a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/86ae117c6483020d0ec57f81b9a95797?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/0086133e0061318f243da9a8d20dcd51?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": ["<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><b>\u0911\u0930\u094d\u0921\u0930 \u0915\u093e \u092a\u094d\u0930\u0915\u093e\u0930</b></td>\n<td style=\"text-align: center;\"><b>\u092e\u093e\u0930\u094d\u091c\u093f\u0928</b></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">NRML</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.68,810/-</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">MIS</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.24,083/-</span></td>\n</tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">BO &amp; CO</span></td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Rs.12,902/-</span></td>\n</tr>\n</tbody>\n</table>"], "videos": []}

{"title": "7. \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0915\u0948\u0938\u0947 \u0938\u092e\u091d\u0947\u0902 (\u092d\u093e\u0917 2)", "text": ["\u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u0947 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u0915\u094b \u0926\u0947\u0916\u093e \u0925\u093e\u0964 \u0905\u092c \u0939\u092e \u0907\u0938\u0915\u0947 \u0926\u0942\u0938\u0930\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u0915\u094b \u092f\u093e\u0928\u0940 \u0905\u0938\u0947\u091f \u0915\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u0915\u094b \u0926\u0947\u0916\u0947\u0902\u0917\u0947\u0964 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u093e \u092f\u0939 \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0939\u0930 \u090f\u0938\u0947\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092c\u0924\u093e\u0924\u093e \u0939\u0948, \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0905\u092a\u0928\u0947 \u092a\u0942\u0930\u0947 \u091c\u0940\u0935\u0928 \u0915\u093e\u0932 \u092e\u0947\u0902 \u0915\u092d\u0940 \u092d\u0940 \u0932\u093f\u092f\u093e \u0939\u0948\u0964 \u0938\u093e\u0927\u093e\u0930\u0923 \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u090f\u0938\u0947\u091f \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0909\u0938 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u0915\u094b \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u092c\u093e\u0926 \u092e\u0947\u0902 \u0915\u092d\u0940 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0906\u092e\u0926\u0928\u0940 \u0915\u092e\u093e\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u0915\u0930 \u0938\u0915\u0947\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092f\u0939\u093e\u0901 2 \u0924\u0930\u0940\u0915\u0947 \u00a0\u0915\u0947 \u090f\u0938\u0947\u091f \u00a0\u0926\u093f\u0916\u093e\u090f \u0917\u090f \u0939\u0948\u0902 \u090f\u0915 \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u0914\u0930 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f\u0964 \u0907\u0928 \u0938\u092c \u0915\u0947 \u0924\u0939\u0924 \u092c\u0939\u0941\u0924 \u0938\u093e\u0930\u0947 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948\u0902 \u0914\u0930 \u0909\u0928\u0915\u0947 \u0938\u093e\u0925 \u091c\u0941\u0921\u093c\u0947 \u0939\u0941\u090f \u0928\u094b\u091f \u092d\u0940 \u0939\u0948\u0902\u0964 \u0939\u092e \u0907\u0928 \u0938\u092c \u0915\u094b \u092c\u093e\u0930\u0940\u2013\u092c\u093e\u0930\u0940 \u0938\u0947 \u0926\u0947\u0916\u0947\u0902\u0917\u0947\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0939\u092e\u0928\u0947 \u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u091c\u093e\u0928\u093e \u0925\u093e \u0915\u093f \u0928\u093e\u0928 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0935\u0939 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u094b 365 \u0926\u093f\u0928\u094b\u0902 \u0938\u0947 \u092d\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u092f\u093e\u0928\u0940 \u090f\u0915 \u0938\u093e\u0932 \u0938\u0947 \u092d\u0940 \u091c\u094d\u092f\u093e\u0926\u093e \u0924\u0915 \u092b\u093e\u092f\u0926\u093e \u092a\u0939\u0941\u0902\u091a\u093e \u0938\u0915\u0924\u0940 \u0939\u0948\u0964 \u0906\u092a\u0915\u094b \u092f\u093e\u0926 \u0939\u0940 \u0939\u094b\u0917\u093e \u0915\u093f \u090f\u0938\u0947\u091f \u0915\u093e \u092e\u0924\u0932\u092c \u0935\u0939 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0906\u0930\u094d\u0925\u093f\u0915 \u0924\u094c\u0930 \u092a\u0930 \u092b\u093e\u092f\u0926\u093e \u092a\u0939\u0941\u0902\u091a\u093e\u090f\u0964", "\u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f\u00a0 \u0928\u093e\u0928 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u0935\u093e\u0932\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u090f\u0915 \u0914\u0930 \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u0948 \u091c\u0939\u093e\u0902 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f (Fixed Assets) \u0932\u093f\u0916\u093e \u0917\u092f\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938\u0915\u0947 \u0924\u0939\u0924 \u092d\u0940 \u0915\u0908 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f \u0915\u093e \u092e\u0924\u0932\u092c \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0909\u0938 \u090f\u0938\u0947\u091f \u0938\u0947 \u0939\u0948 \u091c\u093f\u0938\u0915\u094b \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u092c\u0947\u091a\u093e \u0928\u0939\u0940\u0902 \u091c\u093e \u0938\u0915\u0924\u093e \u092f\u093e \u091c\u093f\u0938\u0915\u0947 \u092c\u0926\u0932\u0947 \u092e\u0947\u0902 \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u0928\u0917\u0926 \u0928\u0939\u0940\u0902 \u092e\u093f\u0932 \u0938\u0915\u0924\u093e\u0964 \u0907\u0938\u092e\u0947\u0902 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u0914\u0930 \u0928\u0949\u0928 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u0926\u094b\u0928\u094b\u0902 \u0924\u0930\u0939 \u0915\u0947 \u090f\u0938\u0947\u091f \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f \u0915\u0947 \u0906\u092e \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948\u0902 \u091c\u092e\u0940\u0928, \u092b\u0948\u0915\u094d\u091f\u094d\u0930\u0940, \u092e\u0936\u0940\u0928, \u0917\u093e\u0921\u093c\u093f\u092f\u093e\u0902, \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0906\u0926\u093f\u0964 \u0915\u0908 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u092d\u0940 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f \u092e\u093e\u0928\u0947 \u091c\u093e\u0924\u0947 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0935\u0939 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0932\u0902\u092c\u0947 \u0938\u092e\u092f \u0924\u0915 \u092b\u093e\u092f\u0926\u093e \u092a\u0939\u0941\u0902\u091a\u093e\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092a \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u094b\u0902\u0917\u0947 \u0915\u093f \u090f\u0915 \u0939\u0930 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0915\u0947\u00a0 \u0932\u093f\u090f \u090f\u0915 \u0939\u0940 \u0928\u094b\u091f \u0939\u0948\u2013 \u0928\u0902\u092c\u0930 10\u0964 \u0907\u0938\u0915\u094b \u0939\u092e \u0906\u0917\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0926\u0947\u0916\u0947\u0902\u0917\u0947\u0964", "\u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0905\u092e\u093e\u0930\u093e \u0930\u093e\u091c\u093e \u092c\u0948\u091f\u0930\u0940\u091c \u0932\u093f\u092e\u093f\u091f\u0947\u0921 \u0915\u0947 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f \u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u092a\u0939\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0915\u093e \u091c\u094b \u0915\u093f 619.8 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0939\u0948\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0935\u094b \u090f\u0938\u0947\u091f \u0939\u094b\u0924\u093e \u0939\u0948 \u091c\u094b \u092d\u094c\u0924\u093f\u0915 \u0930\u0942\u092a \u092e\u0947\u0902 \u092e\u094c\u091c\u0942\u0926 \u0939\u094b \u092f\u093e\u0928\u0940 \u091c\u093f\u0938\u0947 \u0906\u092a \u0926\u0947\u0916 \u092f\u093e \u091b\u0942 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0906\u092e \u0924\u094c\u0930 \u092a\u0930 \u0907\u0938\u092e\u0947\u0902 \u092b\u0948\u0915\u094d\u091f\u094d\u0930\u0940, \u092a\u094d\u0932\u093e\u0902\u091f, \u092e\u0936\u0940\u0928\u0930\u0940, \u0915\u093e\u0930, \u0917\u093e\u0921\u093c\u093f\u092f\u093e\u0902, \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0906\u0926\u093f \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0915\u093e \u0939\u0948 \u0907\u0938\u0915\u0940 \u0915\u0940\u092e\u0924 \u0939\u0948\u2013 3.2 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947\u0964 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u0907\u0928\u091f\u0947\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0935\u094b \u090f\u0938\u0947\u091f \u0939\u094b\u0924\u093e \u0939\u0948, \u091c\u093f\u0938\u0915\u0940 \u0935\u0948\u0932\u094d\u092f\u0942 \u0924\u094b \u0939\u094b\u0924\u0940 \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 \u0915\u094b\u0908 \u092d\u094c\u0924\u093f\u0915 \u0930\u0942\u092a \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u094b \u0906\u092a \u0926\u0947\u0916 \u092f\u093e \u091b\u0942 \u0928\u0939\u0940\u0902 \u0938\u0915\u0924\u0947\u0964 \u0907\u0938\u092e\u0947\u0902 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u0915\u0949\u092a\u0940\u0930\u093e\u0907\u091f, \u091f\u094d\u0930\u0947\u0921\u092e\u093e\u0930\u094d\u0915, \u0921\u093f\u091c\u093e\u0907\u0928, \u092a\u0947\u091f\u0947\u0902\u091f \u091c\u0948\u0938\u0940 \u091a\u0940\u091c\u0947\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902\u0964", "\u091c\u092c \u0939\u092e\u0928\u0947 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u0940 \u091a\u0930\u094d\u091a\u093e \u0915\u0940 \u0925\u0940 \u0924\u094b \u0939\u092e\u0928\u0947 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u093e \u0925\u093e\u0964 \u0915\u093f\u0938\u0940 \u090f\u0938\u0947\u091f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u0909\u0938\u0915\u0947 \u0909\u092a\u092f\u094b\u0917\u0940 \u0938\u092e\u092f \u0915\u0940 \u0905\u0935\u0927\u093f \u092e\u0947\u0902 \u092c\u093e\u0902\u091f\u0928\u0947 \u0915\u0947 \u0924\u0930\u0940\u0915\u0947 \u0915\u094b \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0938\u092e\u092f \u0915\u0947 \u0938\u093e\u0925-\u0938\u093e\u0925 \u090f\u0938\u0947\u091f \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u092e \u0939\u094b\u0924\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0909\u0938\u0915\u0940 \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0915\u094d\u0937\u092e\u0924\u093e \u092f\u093e\u0928\u0940\u00a0 \u0909\u0938\u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u092d\u0940 \u0927\u0940\u0930\u0947-\u0927\u0940\u0930\u0947 \u0915\u092e \u0939\u094b\u0924\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0910\u0938\u093e \u0907\u0938\u0932\u093f\u090f \u0939\u094b\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u093e \u0924\u094b \u090f\u0938\u0947\u091f \u092a\u0941\u0930\u093e\u0928\u093e \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u092f\u093e \u092b\u093f\u0930 \u0909\u0938\u092e\u0947\u0902 \u091f\u0942\u091f-\u092b\u0942\u091f \u0939\u094b \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u094b \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u090f\u0915\u094d\u0938\u092a\u0947\u0902\u0938 \u092f\u093e \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0916\u0930\u094d\u091a \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0947 \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u090f\u0902\u0921 \u0932\u0949\u0938 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u0914\u0930 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0939\u0930 \u090f\u0938\u0947\u091f \u0915\u094b \u0938\u092e\u092f \u0915\u0947 \u0938\u093e\u0925 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u091f \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f\u0964 \u0907\u0938 \u0928\u091c\u0930\u093f\u090f \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u091c\u092c \u0915\u094b\u0908 \u090f\u0938\u0947\u091f \u0932\u0947\u0924\u0940 \u0939\u0948 \u0924\u094b \u0909\u0938\u0915\u094b \u0917\u094d\u0930\u0949\u0938 \u092c\u094d\u0932\u0949\u0915 (Gross Block) \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0917\u094d\u0930\u0949\u0938 \u092c\u094d\u0932\u0949\u0915 \u092e\u0947\u0902 \u0938\u0947 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0918\u091f\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u0939\u092e\u0947\u0902 \u0928\u0947\u091f \u092c\u094d\u0932\u0949\u0915 \u092e\u093f\u0932\u0924\u093e \u0939\u0948\u0964", "\u0928\u0947\u091f \u092c\u094d\u0932\u0949\u0915 = \u0917\u094d\u0930\u0949\u0938 \u092c\u094d\u0932\u0949\u0915 \u2013 \u090f\u0915\u094d\u092f\u0941\u092e\u0941\u0932\u0947\u091f\u0947\u0921 \u0921\u0947\u092a\u094d\u0930\u0947\u0936\u093f\u090f\u0938\u0928", "\u092f\u0939\u093e\u0902 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u0940 \u092c\u093e\u0924 \u092f\u0939 \u0939\u0948 \u0915\u093f \u092f\u0939\u093e\u0902 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u0947 \u0938\u093e\u0925 \u090f\u0915\u094d\u092f\u0941\u092e\u0941\u0932\u0947\u091f\u0947\u0921 (Accumulated) \u0936\u092c\u094d\u0926 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u092f\u0939 \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u0928\u0928\u0947 \u0938\u0947 \u0938\u092e\u092f \u0938\u0947 \u0932\u0947\u0915\u0930 \u0905\u092c \u0924\u0915 \u0915\u0947 \u0938\u093e\u0930\u0947 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u094b \u090f\u0915 \u0938\u093e\u0925 \u091c\u094b\u0921\u093c\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "\u091c\u092c \u0939\u092e 619.8 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u0947 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0914\u0930 3.2 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u0947 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902 \u0924\u094b \u0938\u093e\u0925 \u092e\u0947\u0902 \u0939\u092e\u0947\u0902 \u092f\u093e\u0926 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0907\u0938\u0947 \u0928\u0947\u091f \u092c\u094d\u0932\u0949\u0915 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0939\u0948 \u091c\u094b \u0915\u093f \u0917\u094d\u0930\u0949\u0938 \u092c\u094d\u0932\u0949\u0915 \u092e\u0947\u0902 \u0938\u0947 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u094b \u0918\u091f\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092e\u093f\u0932\u0924\u093e \u0939\u0948\u0964 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f \u0915\u0947 \u0938\u093e\u0925 \u091c\u0941\u0921\u093c\u0947 \u0939\u0941\u090f \u0928\u094b\u091f 10 \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0928\u094b\u091f \u0915\u0947 \u0938\u092c\u0938\u0947 \u090a\u092a\u0930\u0940 \u0939\u093f\u0938\u094d\u0938\u0947 \u092e\u0947\u0902 \u0906\u092a \u0917\u094d\u0930\u0949\u0938 \u092c\u094d\u0932\u0949\u0915, \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928/\u090f\u092e\u0949\u0930\u091f\u093e\u0907\u091c\u0947\u0936\u0928 (Depreciation/amortization) \u0914\u0930 \u0928\u0947\u091f \u092c\u094d\u0932\u0949\u0915 \u0915\u094b \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0939\u0941\u0906 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u092e\u0948\u0902\u0928\u0947 \u0928\u0947\u091f \u092c\u094d\u0932\u0949\u0915 \u0915\u0947 \u0926\u094b \u0938\u0902\u0916\u094d\u092f\u093e\u0913\u0902 \u0915\u094b \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0939\u0948 \u091c\u094b \u0915\u0940 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u090f \u0917\u090f \u0906\u0902\u0915\u0921\u093c\u0947 \u0938\u0947 \u092e\u093f\u0932\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u092c \u0907\u0938 \u0928\u094b\u091f \u0915\u0940 \u0915\u0941\u091b \u0914\u0930 \u091c\u093e\u0928\u0915\u093e\u0930\u093f\u092f\u094b\u0902 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u0924\u0947 \u0939\u0948\u0902\u0964 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0915\u0947 \u0924\u0939\u0924 \u0906\u092a \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0939\u0930 \u090f\u0938\u0947\u091f \u0915\u094b \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0915\u0947 \u0924\u0939\u0924 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917\u094d\u0938 \u0915\u094b \u092d\u0940 \u0930\u0916\u093e \u0939\u0948\u0964 \u092e\u0948\u0902\u0928\u0947 \u0907\u0938 \u0939\u093f\u0938\u094d\u0938\u0947 \u0915\u094b \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u0930 \u0926\u093f\u092f\u093e \u0939\u0948\u0964", "", "31 \u092e\u093e\u0930\u094d\u091a 2013 (FY 13) \u0924\u0915\u00a0 ARBL \u0928\u0947 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u0940 \u0915\u0940\u092e\u0924 93.4 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u092c\u0924\u093e\u092f\u0940 \u0925\u0940\u0964 FY 14 \u092e\u0947\u0902 \u0915\u0902\u092a\u0928\u0940 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 85.8 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u091c\u094b\u0921\u093c \u0926\u093f\u090f \u0939\u0948\u0902\u0964 \u0907\u0938\u0947 \u0907\u0938 \u0938\u093e\u0932 \u092e\u0947\u0902 \u0915\u093f\u090f \u0917\u090f \u0928\u090f \u0928\u093f\u0930\u094d\u092e\u093e\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0907\u0938 \u0938\u093e\u0932 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u0940 \u0915\u0940\u092e\u0924 \u092e\u0947\u0902 \u0938\u0947 0.668 \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0921\u093f\u0921\u0915\u094d\u0936\u0928 \u0926\u093f\u0916\u093e\u092f\u093e \u0939\u0948\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0907\u0938 \u0938\u093e\u0932 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u093e \u0915\u0941\u0932 \u092e\u0942\u0932\u094d\u092f \u0939\u0941\u0906:", "\u092a\u093f\u091b\u0932\u0947 \u0938\u093e\u0932 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u0940 \u0915\u0940\u092e\u0924 + \u0907\u0938 \u0938\u093e\u0932 \u091c\u094b\u0921\u093c\u0940 \u0917\u092f\u0940 \u0915\u0940\u092e\u0924 \u2013 \u0907\u0938 \u0938\u093e\u0932 \u0915\u093e \u0921\u093f\u0921\u0915\u094d\u0936\u0928", "93.4 + 85.8 \u2013 0.668", "= 178.5 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947", "\u090a\u092a\u0930 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0907\u0938 \u0938\u0902\u0916\u094d\u092f\u093e \u0915\u094b \u0928\u0940\u0932\u0947 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0925\u093e\u0964 \u092f\u093e\u0926 \u0930\u0916\u0947\u0902 \u0915\u093f \u092f\u0939 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u093e \u0917\u094d\u0930\u0949\u0938\u00a0 \u092c\u094d\u0932\u0949\u0915 \u0939\u0948\u0964 \u0917\u094d\u0930\u0949\u0938 \u092c\u094d\u0932\u0949\u0915 \u092e\u0947\u0902 \u0938\u0947 \u090f\u0915\u094d\u092f\u0941\u092e\u0941\u0932\u0947\u091f\u0947\u0921 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u094b \u0918\u091f\u093e\u0928\u0947 \u0938\u0947 \u0939\u092e\u0928\u0947 \u0928\u0947\u091f \u092c\u094d\u0932\u0949\u0915 \u092e\u093f\u0932\u0924\u093e \u0939\u0948\u0964 \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u092e\u0948\u0902\u0928\u0947 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u0947 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u0947 \u0939\u093f\u0938\u094d\u0938\u0947 \u0915\u094b \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0939\u0948\u0964", "", "31 \u092e\u093e\u0930\u094d\u091a 2013 (FY 13) \u0924\u0915 ARBL \u0928\u0947 17.2 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0926\u093f\u0916\u093e\u092f\u093e \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u0909\u0928\u094d\u0939\u0947\u0902 FY 14 \u0915\u093e 2.8 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u091c\u094b\u0921\u093c\u0928\u093e \u0939\u094b\u0917\u093e \u0914\u0930 0.376 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0921\u093f\u0921\u0915\u094d\u0936\u0928 \u092d\u0940 \u0926\u093f\u0916\u093e\u0928\u093e \u0939\u094b\u0917\u093e\u0964 \u0907\u0938 \u0924\u0930\u0939 \u0938\u0947 \u0938\u093e\u0932 \u0915\u093e \u0915\u0941\u0932 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0939\u094b\u0917\u093e:", "\u092a\u093f\u091b\u0932\u0947 \u0938\u093e\u0932 \u0915\u093e \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 + \u0907\u0938 \u0938\u093e\u0932 \u0915\u093e\u00a0 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u2013 \u0907\u0938 \u0938\u093e\u0932 \u0915\u093e \u0921\u093f\u0921\u0915\u094d\u0936\u0928", "= 17.2 + 2.8 \u2013 0.376 = 19.736 \u0915\u0930\u094b\u0921\u093c", "\u0907\u0938\u0947 \u090a\u092a\u0930 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0932\u093e\u0932 \u0930\u0902\u0917 \u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "\u0924\u094b \u0905\u092c \u0939\u092e\u093e\u0930\u0947 \u092a\u093e\u0938 178.6 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 \u0915\u093e \u0917\u094d\u0930\u0949\u0938 \u092c\u094d\u0932\u0949\u0915 \u0939\u0948, 19.736 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0939\u0948 \u0924\u094b \u0939\u092e \u0928\u0947\u091f \u092c\u094d\u0932\u0949\u0915 \u0928\u093f\u0915\u093e\u0932 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902: 178.6 \u2013 19.736 = 158.8 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0964 \u0928\u0940\u091a\u0947 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0907\u0938\u0947 \u0939\u093e\u0908\u0932\u093e\u0907\u091f \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "\u0939\u0930 \u0924\u0930\u0939 \u0915\u0947 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u0914\u0930 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0915\u0947 \u0932\u093f\u090f \u0907\u0938\u0940 \u0924\u0930\u0939 \u0938\u0947 \u0915\u0941\u0932 \u0928\u0947\u091f \u092c\u094d\u0932\u0949\u0915 \u0915\u094b \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964", "\u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f \u0915\u0947 \u0924\u0939\u0924 \u0905\u0917\u0932\u0947 2 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948\u0902\u2013 \u00a0\u0915\u0948\u092a\u093f\u091f\u0932 \u0935\u0930\u094d\u0915 \u0907\u0928 \u092a\u094d\u0930\u094b\u0917\u094d\u0930\u0947\u0938 (Capital Work in Progress\u2013CWIP) \u0914\u0930 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0905\u0902\u0921\u0930 \u0921\u0947\u0935\u0932\u092a\u092e\u0947\u0902\u091f (Intangible assets under development)\u0964", "CWIP \u092e\u0947\u0902 \u0910\u0938\u0947 \u090f\u0938\u0947\u091f \u0915\u094b \u0930\u0916\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u094b \u0905\u092d\u0940 \u092c\u0928 \u0930\u0939\u0947 \u0939\u0948\u0902 \u091c\u0948\u0938\u0947 \u0928\u093f\u0930\u094d\u092e\u093e\u0923\u093e\u0927\u0940\u0928 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917, \u0928\u0908 \u092e\u0936\u0940\u0928\u0930\u0940, \u091c\u093f\u0938\u0915\u094b \u0905\u092d\u0940 \u091c\u094b\u0921\u093c\u093e \u091c\u093e \u0930\u0939\u093e \u0939\u0948, \u0914\u0930 \u0907\u0938 \u0924\u0930\u0939 \u0915\u0940 \u0926\u0942\u0938\u0930\u0940 \u0935\u0938\u094d\u0924\u0941\u090f\u0902 \u091c\u094b \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u0947 \u092c\u0928\u0928\u0947 \u0915\u0947 \u0938\u092e\u092f \u0924\u0948\u092f\u093e\u0930 \u0928\u0939\u0940\u0902 \u0939\u0948\u0902\u0964 \u0926\u0942\u0938\u0930\u0947 \u0936\u092c\u094d\u0926\u094b\u0902 \u092e\u0947\u0902 , \u0907\u0938\u092e\u0947\u0902 \u0935\u0939 \u0915\u0948\u092a\u093f\u091f\u0932 \u090f\u0915\u094d\u0938\u092a\u0947\u0902\u0921\u093f\u091a\u0930 \u0906\u0924\u093e \u0939\u0948 \u091c\u094b \u0915\u093f \u0916\u0930\u094d\u091a \u0915\u093f\u092f\u093e \u091c\u093e \u091a\u0941\u0915\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u091c\u093f\u0938\u0915\u093e \u0915\u093e\u092e \u092a\u0942\u0930\u093e \u0928\u0939\u0940\u0902 \u0939\u0941\u0906 \u0939\u0948\u0964 \u0907\u0938 \u0930\u0915\u092e \u0915\u094b \u0928\u0947\u091f \u092c\u094d\u0932\u0949\u0915 \u092e\u0947\u0902 \u0926\u093f\u0916\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f ARBL \u0928\u0947 144.3 \u0915\u0930\u094b\u0921\u093c CWIP \u092e\u0947\u0902 \u0930\u0916\u0947 \u0939\u0948\u0902\u0964 \u090f\u0915 \u092c\u093e\u0930 \u091c\u092c \u0915\u093e\u092e \u092a\u0942\u0930\u093e \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u0907\u0938 \u090f\u0938\u0947\u091f \u092a\u0930 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0936\u0941\u0930\u0942 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948 \u0924\u094b \u0907\u0938 \u090f\u0938\u0947\u091f \u0915\u094b \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u092e\u0947\u0902 (\u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f \u0915\u0947 \u0924\u0939\u0924) \u0930\u0916\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u00a0 \u0914\u0930 CWIP \u0938\u0947 \u0939\u091f\u093e \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0905\u0902\u0924\u093f\u092e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0905\u0902\u0921\u0930 \u0921\u0947\u0935\u0932\u092a\u092e\u0947\u0902\u091f \u092d\u0940 CWIP \u0915\u0940 \u0924\u0930\u0939 \u0939\u094b\u0924\u093e \u0939\u0948 \u0932\u0947\u0915\u093f\u0928 \u0907\u0938\u092e\u0947\u0902 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u0905\u0917\u0930 \u0915\u094b\u0908 \u092a\u0947\u091f\u0947\u0902\u091f \u092b\u093e\u0907\u0932 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u092f\u093e \u0915\u0949\u092a\u0940\u0930\u093e\u0907\u091f \u092b\u093e\u0907\u0932 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u092f\u093e \u0915\u093f\u0938\u0940 \u092c\u094d\u0930\u093e\u0902\u0921 \u0915\u093e \u0921\u0947\u0935\u0932\u092a\u092e\u0947\u0902\u091f \u0939\u094b \u0930\u0939\u093e \u0939\u0948\u0964 ARBL \u0915\u0947 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092f\u0939 \u0930\u0915\u092e \u092c\u0939\u0941\u0924 \u091b\u094b\u091f\u0940 \u0939\u0948 0.3 \u0915\u0930\u094b\u0921\u093c\u0964 \u0907\u0928 \u0938\u092d\u0940 \u0916\u0930\u094d\u091a\u094b\u0902 \u0915\u094b \u091c\u094b\u0921\u093c\u0915\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u0915\u0949\u0938\u094d\u091f \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u092e\u0947\u0902 \u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f \u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0926\u0942\u0938\u0930\u0947 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u092d\u0940 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964\u00a0 \u0907\u0938 \u0924\u0938\u094d\u0935\u0940\u0930 \u092e\u0947\u0902 \u0907\u0928\u0915\u094b \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964", "", "ARBL \u0926\u094d\u0935\u093e\u0930\u093e \u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u091b \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u092e\u0947\u0902\u091f \u0915\u093f\u090f \u0917\u090f \u0939\u0948\u0902\u0964 \u092f\u0939 \u0928\u093f\u0935\u0947\u0936 16.07 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u0939\u0948\u0964 \u092f\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u0941\u091b \u092d\u0940 \u0939\u094b \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u091c\u0948\u0938\u0947 \u0915\u0941\u091b \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0916\u0930\u0940\u0926\u0928\u093e, \u0915\u093f\u0938\u0940 \u0915\u0902\u092a\u0928\u0940 \u092e\u0947\u0902 \u092e\u093e\u0907\u0928\u0949\u0930\u093f\u091f\u0940 \u0939\u093f\u0938\u094d\u0938\u0947\u0926\u093e\u0930\u0940 \u0932\u0947\u0928\u093e, \u0921\u093f\u092c\u0947\u0902\u091a\u0930, \u092e\u094d\u092f\u0942\u091a\u094d\u092f\u0942\u0905\u0932 \u092b\u0902\u0921 \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0906\u0926\u093f\u0964 \u092f\u0939\u093e\u0902 \u092a\u0930 \u0928\u094b\u091f 11\u0915\u093e \u090f\u0915 \u091a\u093f\u0924\u094d\u0930 \u0926\u093f\u092f\u093e \u091c\u093e \u0930\u0939\u093e \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0906\u092a\u0915\u094b \u092f\u0939 \u092c\u093e\u0924 \u0938\u092e\u091d\u0928\u0947 \u092e\u0947\u0902 \u092e\u0926\u0926 \u092e\u093f\u0932 \u0938\u0915\u0924\u0940 \u0939\u0948\u0964", "", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u2013\u0932\u0902\u092c\u0940 \u0905\u0935\u0927\u093f \u0915\u093e \u0915\u0930\u094d\u091c\u093c \u092f\u093e\u0928\u0940 \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u0932\u094b\u0928 \u0914\u0930 \u090f\u0921\u0935\u093e\u0902\u0938\u0947\u091c\u0964 \u091c\u094b \u0915\u093f 56.7 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u094b\u0902 \u0915\u093e \u0939\u0948\u0964 \u092f\u0939 \u0935\u0939 \u0932\u094b\u0928 \u092f\u093e \u0915\u0930\u094d\u091c (\u090f\u0921\u0935\u093e\u0902\u0938) \u0939\u0948\u0902 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0905\u092a\u0928\u0947 \u0917\u094d\u0930\u0941\u092a \u0915\u0940 \u0926\u0942\u0938\u0930\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u094b, \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u094b, \u0938\u092a\u094d\u0932\u093e\u092f\u0930 \u0915\u094b \u092f\u093e \u0915\u093f\u0938\u0940 \u0935\u0947\u0902\u0921\u0930 \u0915\u094b \u0926\u093f\u092f\u093e \u0939\u0948\u0964", "\u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u092e\u0947\u0902 \u0905\u0902\u0924\u093f\u092e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u0905\u0926\u0930 \u0928\u0949\u0928 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u0915\u093e, \u091c\u094b \u0915\u093f 0.122 \u0915\u0930\u094b\u0921\u093c \u0939\u0948\u0964 \u0907\u0938\u092e\u0947\u0902 \u092e\u093f\u0938\u0932\u0947\u0928\u093f\u092f\u0938 (\u0935\u093f\u0935\u093f\u0927) \u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u090f\u0938\u0947\u091f (miscellaneous long term assets) \u092d\u0940 \u0936\u093e\u092e\u093f\u0932 \u0939\u0948\u0902\u0964", "", "7.4 \u2013 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f", "\u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u0935\u0939 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0928\u0915\u094b \u0915\u0902\u092a\u0928\u0940 \u0924\u0941\u0930\u0902\u0924 \u092f\u093e \u092b\u093f\u0930 \u092c\u0939\u0941\u0924 \u091c\u0932\u094d\u0926\u0940 \u0938\u0947 \u0928\u0917\u0926\u0940 \u092e\u0947\u0902 \u092c\u0926\u0932 \u0938\u0915\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0915\u0902\u092a\u0928\u0940 \u092e\u093e\u0928\u0924\u0940 \u0939\u0948 \u0915\u093f \u0907\u0928\u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 365 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0905\u0902\u0926\u0930 \u092f\u093e\u0928\u0940 \u0938\u093e\u0932 \u0915\u0947 \u092d\u0940\u0924\u0930 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964 \u0907\u0928 \u090f\u0938\u0947\u091f \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u0947 \u0926\u0948\u0928\u093f\u0915 \u0915\u093e\u092e\u0915\u093e\u091c \u0915\u0947 \u0932\u093f\u090f \u0914\u0930 \u0915\u093e\u0930\u094b\u092c\u093e\u0930 \u0915\u0947 \u092c\u093e\u0915\u0940 \u0916\u0930\u094d\u091a\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0915\u0930\u0924\u0940 \u0939\u0948\u0964", "\u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u0915\u0947 \u0906\u092e \u0909\u0926\u093e\u0939\u0930\u0923 \u0939\u0948\u0902\u2013 \u0928\u0917\u0926, \u0928\u0917\u0926 \u091c\u0948\u0938\u0940 \u0926\u0942\u0938\u0930\u0940 \u091a\u0940\u091c\u0947\u0902, \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940, \u0930\u093f\u0938\u093f\u0935\u0947\u092c\u0932, \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u0932\u094b\u0928 \u0914\u0930 \u090f\u0921\u0935\u093e\u0902\u0938\u0947\u091c, \u00a0\u0915\u0908 \u0914\u0930 \u0926\u0947\u0928\u0926\u093e\u0930 \u091c\u093f\u0938\u0947 \u0938\u0902\u0921\u0930\u0940 \u0921\u0947\u091f\u0930\u094d\u0938 (sundry debtors) \u0915\u0939\u0924\u0947 \u0939\u0948\u0964", "\u090f\u0915 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f ARBL \u0915\u0947 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u092a\u0930:", "", "\u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u092e\u0947\u0902 \u092a\u0939\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u0915\u093e \u091c\u094b \u0915\u093f 335 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u093e \u0939\u0948\u0964 \u0915\u0902\u092a\u0928\u0940 \u0926\u094d\u0935\u093e\u0930\u093e \u092c\u0928\u093e\u090f \u0917\u090f \u0938\u092d\u0940 \u0909\u0924\u094d\u092a\u093e\u0926, \u0909\u0928\u0915\u093e \u0915\u091a\u094d\u091a\u093e \u092e\u093e\u0932 \u0914\u0930 \u0926\u0942\u0938\u0930\u0940 \u091a\u0940\u091c\u0947\u0902 \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u092e\u0947\u0902 \u0906\u0924\u0940 \u0939\u0948\u0902\u0964 \u0907\u0938\u092e\u0947\u0902 \u0935\u0939 \u0909\u0924\u094d\u092a\u093e\u0926 \u092d\u0940 \u0906\u0924\u0947 \u0939\u0948\u0902 \u091c\u094b \u092d\u0940 \u0905\u0927\u0942\u0930\u0947 \u092c\u0928\u0947 \u0939\u0948\u0902 \u092f\u093e \u091c\u094b \u0905\u092d\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0947 \u0932\u093f\u090f \u0924\u0948\u092f\u093e\u0930 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0915\u0902\u092a\u0928\u0940 \u091c\u092c \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0915\u0930\u0924\u0940 \u0939\u0948 \u0924\u094b \u0938\u093e\u0930\u093e \u0938\u093e\u092e\u093e\u0928 \u0930\u0949 \u092e\u0948\u091f\u0947\u0930\u093f\u092f\u0932 (raw materials) \u092f\u093e \u0915\u091a\u094d\u091a\u0947 \u092e\u093e\u0932 \u0938\u0947 \u0932\u0947\u0915\u0930 \u0924\u0948\u092f\u093e\u0930 \u092e\u093e\u0932 \u0924\u0915 \u0909\u0924\u094d\u092a\u093e\u0926\u0928 \u0915\u0947 \u0915\u0908 \u091a\u0930\u0923\u094b\u0902 \u0938\u0947 \u0917\u0941\u091c\u0930\u0924\u093e \u0939\u0948\u0964 \u0907\u0928 \u0935\u093f\u092d\u093f\u0928\u094d\u0928 \u091a\u0930\u0923\u094b\u0902 \u092a\u0930 \u0930\u0916\u093e \u092e\u093e\u0932 \u092d\u0940 \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u0915\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u0939\u094b\u0924\u093e \u0939\u0948\u0964 \u0928\u0940\u091a\u0947 \u0928\u094b\u091f 14 \u092e\u0947\u0902 \u0906\u092a \u0907\u0938\u0915\u093e \u0928\u092e\u0942\u0928\u093e \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964", "", "\u091c\u0948\u0938\u093e \u0915\u093f \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u091c\u094d\u092f\u093e\u0926\u093e\u0924\u0930 \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u0915\u091a\u094d\u091a\u093e \u092e\u093e\u0932 (raw material) \u092f\u093e \u0935\u0930\u094d\u0915 \u0907\u0928 \u092a\u094d\u0930\u0949\u0917\u094d\u0930\u0947\u0938 (work-in-progress) \u092e\u0947\u0902 \u0926\u093f\u0916 \u0930\u0939\u0940 \u0939\u0948\u0964", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u2013 \u091f\u094d\u0930\u0947\u0921 \u0930\u093f\u0938\u093f\u0935\u0947\u092c\u0932\u094d\u0938 (Trade Receivables) \u092f\u093e \u0905\u0915\u093e\u0909\u0902\u091f\u094d\u0938 \u0930\u093f\u0938\u093f\u0935\u0947\u092c\u0932\u094d\u0938 (Accounts Receivables)\u0964 \u092f\u0939 \u0935\u0939 \u092a\u0948\u0938\u093e \u0939\u0948 \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0909\u0938\u0915\u0947 \u0921\u093f\u0938\u094d\u091f\u094d\u0930\u0940\u092c\u094d\u092f\u0942\u091f\u0930, \u0917\u094d\u0930\u093e\u0939\u0915\u094b\u0902 \u092f\u093e \u0926\u0942\u0938\u0930\u0947 \u0915\u0941\u091b \u0932\u094b\u0917\u094b\u0902 \u0938\u0947 \u092e\u093f\u0932\u0928\u093e \u092c\u093e\u0915\u0940 \u0939\u0948\u0964 ARBL \u0915\u0947 \u092e\u093e\u092e\u0932\u0947 \u092e\u0947\u0902 \u092f\u0939 \u0930\u0915\u092e 452.77 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947 \u0915\u0940 \u0939\u0948\u0964", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948\u2013 \u00a0\u0915\u0948\u0936 \u090f\u0902\u0921 \u0915\u0948\u0936 \u0907\u0915\u094d\u0935\u093f\u0935\u0948\u0932\u0947\u0902\u091f\u094d\u0938 (Cash and Cash equivalents) \u092f\u093e\u0928\u0940 \u0928\u0917\u0926\u0940 \u0914\u0930 \u0928\u0917\u0926 \u091c\u0948\u0938\u0940 \u0926\u0942\u0938\u0930\u0940 \u091a\u0940\u091c\u0947\u0902\u0964 \u092f\u0939 \u0915\u0902\u092a\u0928\u0940 \u0915\u093e \u0938\u092c\u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0932\u093f\u0915\u094d\u0935\u093f\u0921 \u090f\u0938\u0947\u091f \u092e\u093e\u0928\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0939\u093e\u0902 \u0915\u0948\u0936 \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u0948\u0936 \u0911\u0928 \u0939\u0948\u0902\u0921 \u0914\u0930 \u0915\u0948\u0936 \u0911\u0928 \u0921\u093f\u092e\u093e\u0902\u0921 (Cash on hand and Cash on demand)\u0964 \u0915\u0948\u0936 \u0907\u0915\u094d\u0935\u093f\u0935\u0948\u0932\u0947\u0902\u091f \u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u091b\u094b\u091f\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0935\u094b \u0928\u093f\u0935\u0947\u0936 \u091c\u093f\u0928\u0915\u0940 \u092e\u0948\u091a\u094d\u092f\u094b\u0930\u093f\u091f\u0940 3 \u092e\u0939\u0940\u0928\u0947 \u0938\u0947 \u0915\u092e \u0915\u0940 \u0939\u0948\u0964 \u092f\u0939 \u0930\u0915\u092e 294.5 \u0915\u0930\u094b\u0921\u093c \u0939\u0948\u0964 \u0928\u094b\u091f 16 \u092e\u0947\u0902 \u0907\u0938\u0915\u094b \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0926\u093f\u0916\u093e\u092f\u093e \u0917\u092f\u093e \u0939\u0948 \u0906\u092a \u092f\u0939\u093e\u0902 \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0915\u0908 \u0924\u0930\u0940\u0915\u0947 \u0915\u0947 \u0905\u0915\u093e\u0909\u0902\u091f \u092e\u0947\u0902 \u092a\u0948\u0938\u0947 \u0930\u0916\u0947 \u0939\u0948\u0902\u0964", "", "\u0905\u0917\u0932\u093e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e \u0932\u094b\u0928\u094d\u0938 \u090f\u0902\u0921 \u090f\u0921\u0935\u093e\u0902\u0938\u0947\u091c (Short-term loans and Advances) \u0915\u093e \u092f\u093e\u0928\u0940 \u091b\u094b\u091f\u0940 \u0905\u0935\u0927\u093f \u0915\u0947 \u0935\u094b \u0915\u0930\u094d\u091c \u091c\u094b \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 \u0932\u094b\u0917\u094b\u0902 \u0915\u094b \u0926\u093f\u090f \u0939\u0948\u0902 \u0914\u0930 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0940 \u091c\u093e\u0924\u0940 \u0939\u0948 \u0915\u093f \u0907\u0928\u0915\u0940 \u0935\u093e\u092a\u0938\u0940 1 \u0938\u093e\u0932 \u0915\u0947 \u0905\u0902\u0926\u0930 \u092f\u093e\u0928\u0940 365 \u0926\u093f\u0928\u094b\u0902 \u0915\u0947 \u0905\u0902\u0926\u0930 \u0939\u094b \u091c\u093e\u090f\u0917\u0940\u0964 \u0907\u0928\u092e\u0947\u0902 \u0917\u094d\u0930\u093e\u0939\u0915\u094b\u0902, \u0938\u092a\u094d\u0932\u093e\u092f\u0930\u094d\u0938 \u092f\u093e \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u093f\u092f\u094b\u0902 \u0915\u094b \u0926\u093f\u092f\u093e \u0917\u092f\u093e \u0915\u0930\u094d\u091c, \u090f\u0921\u0935\u093e\u0902\u0938 \u091f\u0948\u0915\u094d\u0938 \u092a\u0947\u092e\u0947\u0902\u091f\u094d\u0938 (income tax, wealth tax) \u0906\u0926\u093f \u0936\u093e\u092e\u093f\u0932 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u0930\u0915\u092e 211.9 \u0915\u0930\u094b\u0921\u093c \u0939\u0948\u0964 \u00a0\u0907\u0938\u0915\u0947 \u092c\u093e\u0926 \u0906\u0924\u093e \u0939\u0948 \u090f\u0938\u0947\u091f \u0915\u0947 \u092d\u093e\u0917 \u0915\u093e \u0905\u0902\u0924\u093f\u092e \u0914\u0930 \u0935\u093e\u0938\u094d\u0924\u0935 \u092e\u0947\u0902 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u093e \u092d\u0940 \u0905\u0902\u0924\u093f\u092e \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e\u2013 \u00a0\u0907\u0938\u0947 \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u0905\u0926\u0930 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u092f\u093e \u0905\u0928\u094d\u092f\u00a0 \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f \u0964 \u0907\u0938\u0947 \u0905\u0928\u094d\u092f \u0907\u0938\u0940\u0932\u093f\u090f \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0938\u0915\u094b \u092c\u0939\u0941\u0924 \u092e\u0939\u0924\u094d\u0935 \u0928\u0939\u0940\u0902 \u0926\u093f\u092f\u093e \u091c\u093e\u0924\u093e\u0964 \u092f\u0939 \u0930\u0915\u092e \u0939\u0948 4.3 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947\u0964", "\u0924\u094b \u0905\u092c \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0915\u0941\u0932 \u090f\u0938\u0947\u091f \u0939\u0941\u090f :", "\u092b\u093f\u0915\u094d\u0938\u094d\u0921 \u090f\u0938\u0947\u091f + \u0915\u0930\u0947\u0902\u091f \u090f\u0938\u0947\u091f", "= 840.831 + 1298.61 \u0915\u0930\u094b\u0921\u093c", "= 2139.441 \u0915\u0930\u094b\u0921\u093c \u0930\u0942\u092a\u092f\u0947, \u092f\u0939 \u0930\u0915\u092e \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940 \u0915\u0947 \u092c\u0930\u093e\u092c\u0930 \u0939\u0948\u0964", "\u0924\u094b \u0939\u092e\u0928\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u0947 \u090f\u0938\u0947\u091f \u0939\u093f\u0938\u094d\u0938\u0947 \u0914\u0930 \u092a\u0942\u0930\u0940 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0915\u094b \u092a\u0942\u0930\u0940 \u0924\u0930\u0939 \u0926\u0947\u0916 \u0932\u093f\u092f\u093e\u0964 \u090f\u0915 \u092c\u093e\u0930 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092a\u0930 \u092b\u093f\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f\u0964", "", "\u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f ARBL \u0915\u0940 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0938\u092e\u0940\u0915\u0930\u0923 \u0938\u0939\u0940 \u0938\u093e\u092c\u093f\u0924 \u0939\u094b\u0924\u093e \u0939\u0948\u0964", "\u090f\u0938\u0947\u091f = \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u094b\u0902 \u0915\u093e \u092b\u0902\u0921 + \u0932\u093e\u092f\u092c\u093f\u0932\u093f\u091f\u0940", "\u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u092a\u093f\u091b\u0932\u0947 \u0915\u0941\u091b \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u092e\u0947\u0902 \u0939\u092e\u0928\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0914\u0930 p&l \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u093e \u0939\u0948\u0964 \u0932\u0947\u0915\u093f\u0928 \u0939\u092e\u0928\u0947 \u0907\u0928\u0915\u0947 \u0906\u0902\u0915\u0921\u093c\u0947 \u092a\u0930 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938\u00a0 \u00a0 \u0905\u0903 \u090f \u0928\u0939\u0940\u0902 \u0915\u0940 \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0939\u092e\u0947\u0902 \u092f\u0939 \u092a\u0924\u093e \u091a\u0932 \u0938\u0915\u0947 \u0915\u093f \u0906\u0902\u0915\u0921\u093c\u0947 \u0905\u091a\u094d\u091b\u0947 \u0939\u0948\u0902 \u092f\u093e \u092c\u0941\u0930\u0947\u0964 \u0939\u092e \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0930\u0947\u0936\u094d\u092f\u094b \u0915\u0947 \u090f\u0928\u093e\u0932\u093f\u0938\u093f\u0938 \u0935\u093e\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0907\u0938 \u092a\u0930 \u091a\u0930\u094d\u091a\u093e \u0915\u0930\u0947\u0902\u0917\u0947\u0964", "\u0905\u0917\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f \u092e\u0947\u0902 \u0939\u092e \u0905\u0902\u0924\u093f\u092e \u092b\u093e\u0907\u0928\u0947\u0902\u0938\u093f\u092f\u0932 \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092f\u093e\u0928\u0940 \u0915\u0948\u0936 \u092b\u094d\u0932\u094b \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u094b \u0926\u0947\u0916\u0947\u0902\u0917\u0947\u0964 \u0932\u0947\u0915\u093f\u0928 \u0935\u0939 \u0926\u0947\u0916\u0928\u0947 \u0915\u0947 \u092a\u0939\u0932\u0947 \u0939\u092e\u0947\u0902 \u092f\u0939 \u0926\u0947\u0916 \u0932\u0947\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948 \u0915\u093f \u092c\u0948\u0932\u0947\u0902\u0938 \u0914\u0930 p&l \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0915\u0948\u0938\u0947 \u091c\u0941\u0921\u093c\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u092c \u0939\u092e \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u093f \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u0914\u0930 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u0906\u092a\u0938 \u092e\u0947\u0902 \u0915\u093f\u0924\u0928\u0940 \u0924\u0930\u0939 \u0938\u0947 \u091c\u0941\u0921\u093c\u0947 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0907\u0938 \u091a\u093f\u0924\u094d\u0930 \u092a\u0930 \u0928\u091c\u0930 \u0921\u093e\u0932\u093f\u090f\u0964", "", "\u090a\u092a\u0930 \u0915\u0947 \u091a\u093f\u0924\u094d\u0930 \u092e\u0947\u0902 \u0906\u092a \u0926\u0947\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u092c\u093e\u090f\u0902 \u0924\u0930\u092b \u0935\u0939 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948 \u091c\u094b \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 P&L \u0938\u094d\u091f\u0947\u091f\u092e\u0947\u0902\u091f \u092e\u0947\u0902 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u091c\u092c\u0915\u093f \u0926\u093e\u090f\u0902 \u0924\u0930\u092b \u0935\u094b \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0939\u0948\u0902 \u091c\u094b \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964 \u092a\u093f\u091b\u0932\u0947 \u0905\u0927\u094d\u092f\u093e\u092f\u094b\u0902 \u092e\u0947\u0902 \u0926\u0940 \u0917\u0908 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u0947 \u0906\u0927\u093e\u0930 \u092a\u0930 \u0906\u092a \u0907\u0928 \u0938\u092d\u0940 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902\u0964 \u0905\u092c \u0939\u092e \u092f\u0939 \u0926\u0947\u0916\u0947\u0902\u0917\u0947 \u0915\u093f \u092f\u0939 \u0932\u093e\u0907\u0928 \u0906\u0907\u091f\u092e \u090f\u0915 \u0926\u0942\u0938\u0930\u0947 \u0938\u0947 \u0915\u0948\u0938\u0947 \u091c\u0941\u0921\u093c\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0938\u092c\u0938\u0947 \u092a\u0939\u0932\u0947 \u092c\u093f\u0915\u094d\u0930\u0940 \u0938\u0947 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0940 \u0906\u092e\u0926\u0928\u0940 \u092f\u093e\u0928\u0940 \u0930\u0947\u0935\u0947\u0928\u094d\u092f\u0942 \u092b\u094d\u0930\u0949\u092e \u0938\u0947\u0932\u094d\u0938 (Revenue from Sales) \u0915\u094b \u0926\u0947\u0916\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0926\u093f \u0915\u094b\u0908 \u0915\u0902\u092a\u0928\u0940 \u0939\u0948 \u0915\u0941\u091b \u092e\u093e\u0932 \u092c\u0947\u091a\u0924\u0940 \u0939\u0948, \u0924\u094b \u0909\u0938\u0915\u0947 \u0932\u093f\u090f \u0909\u0938\u0947 \u0915\u0941\u091b \u0916\u0930\u094d\u091a \u092d\u0940 \u0915\u0930\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0909\u0926\u093e\u0939\u0930\u0923 \u0915\u0947 \u0924\u094c\u0930 \u092a\u0930 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0935\u093f\u091c\u094d\u091e\u093e\u092a\u0928 \u0926\u0947\u0928\u0947 \u092a\u0921\u093c\u0924\u0947 \u0939\u0948\u0902 \u091c\u093f\u0938\u0938\u0947 \u0932\u094b\u0917\u094b\u0902 \u0915\u094b \u0909\u0938\u0915\u0947 \u092a\u094d\u0930\u094b\u0921\u0915\u094d\u091f \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u092a\u0924\u093e \u091a\u0932\u0947\u0964 \u0907\u0938 \u0928\u0917\u0926\u0940 \u0916\u0930\u094d\u091a \u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092a\u093e\u0938 \u0930\u0939\u0928\u0947 \u0935\u093e\u0932\u0947 \u0928\u0917\u0926 \u092e\u0947\u0902 \u0915\u092e\u0940 \u0906\u0924\u0940 \u0939\u0948\u0964 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e \u0915\u0902\u092a\u0928\u0940 \u0915\u0941\u091b \u092e\u093e\u0932 \u0909\u0927\u093e\u0930 \u092a\u0930 \u092d\u0940 \u0926\u0947\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938\u0938\u0947 \u0930\u093f\u0938\u093f\u0935\u0947\u092c\u0932 (Accounts Receivables) \u090a\u092a\u0930 \u091a\u0932\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u0940 \u0905\u092a\u0928\u093e \u0909\u0924\u094d\u092a\u093e\u0926 \u092f\u093e \u092a\u094d\u0930\u0949\u0921\u0915\u094d\u091f \u092c\u0928\u093e\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u091a\u094d\u091a\u093e \u092e\u093e\u0932 \u0938\u092e\u0947\u0924 \u0915\u0908 \u0924\u0930\u0939 \u0915\u093e \u092e\u093e\u0932 \u0916\u0930\u0940\u0926\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938\u0947 \u0911\u092a\u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u0915\u094d\u0938\u092a\u0947\u0902\u0938\u0947\u0938 (Operating expenses) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u0964 \u0915\u094b\u0908 \u0915\u0902\u092a\u0928\u0940 \u091c\u092c \u0907\u0938 \u0924\u0930\u0939 \u0915\u0947 \u0916\u0930\u094d\u091a\u0947 \u0915\u0930\u0924\u0940 \u0939\u0948 \u0924\u094b \u0926\u094b \u091a\u0940\u091c\u0947\u0902 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u090f\u0915 \u0935\u094b \u0915\u091a\u094d\u091a\u093e \u092e\u093e\u0932 \u0916\u0930\u0940\u0926\u0924\u0940 \u0939\u0948 \u091c\u094b \u0915\u093f \u0915\u0908 \u092c\u093e\u0930 \u0909\u0927\u093e\u0930 \u092a\u0930 \u0932\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948 \u091c\u093f\u0938\u0938\u0947\u00a0 \u091f\u094d\u0930\u0947\u0921 \u092a\u0947\u092f\u092c\u0932 (\u0905\u0915\u093e\u0909\u0902\u091f \u092a\u0947\u092f\u092c\u0932) \u090a\u092a\u0930 \u092c\u0922\u093c\u0924\u093e \u0939\u0948 \u0926\u0942\u0938\u0930\u093e \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u0915\u093e \u0938\u094d\u0924\u0930 \u092d\u0940 \u092c\u0926\u0932\u0924\u093e \u0939\u0948\u0964 \u0907\u0928\u094d\u0935\u0947\u0902\u091f\u0930\u0940 \u0915\u0940 \u0915\u0940\u092e\u0924 \u0915\u092e \u0939\u094b\u0917\u0940 \u092f\u093e \u091c\u094d\u092f\u093e\u0926\u093e \u092f\u0939 \u0907\u0938 \u092a\u0930 \u0928\u093f\u0930\u094d\u092d\u0930 \u0915\u0930\u0924\u093e \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0905\u092a\u0928\u093e \u092e\u093e\u0932 \u092c\u0947\u091a\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0915\u093f\u0924\u0928\u093e \u0938\u092e\u092f \u091a\u093e\u0939\u093f\u090f\u0964", "\u091c\u092c \u0915\u0902\u092a\u0928\u0940 \u0915\u094b\u0908 \u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u0916\u0930\u0940\u0926\u0924\u0940 \u0939\u0948 \u092f\u093e \u092c\u094d\u0930\u093e\u0902\u0921 \u092c\u093f\u0932\u094d\u0921\u093f\u0902\u0917 (Brand Building) \u091c\u0948\u0938\u0940 \u0915\u093f\u0938\u0940 \u091a\u0940\u091c \u092e\u0947\u0902 \u0928\u093f\u0935\u0947\u0936 \u0915\u0930\u0915\u0947 \u0907\u0928\u091f\u0948\u0902\u091c\u093f\u092c\u0932 \u090f\u0938\u0947\u091f \u092c\u0928\u093e\u0924\u0940 \u0939\u0948 \u0924\u094b \u0915\u0902\u092a\u0928\u0940 \u0907\u0938 \u0916\u0930\u094d\u091a \u0915\u094b \u0915\u0908 \u0938\u093e\u0932 \u092e\u0947\u0902 \u092c\u093e\u0902\u091f \u0926\u0947\u0924\u0940 \u0939\u0948 \u091c\u093f\u0938\u0915\u0940 \u0935\u091c\u0939 \u0938\u0947 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092a\u0930 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 (depreciation) \u092c\u0922\u093c\u0924\u093e \u0939\u0948\u0964\u00a0 \u092f\u093e\u0926 \u0930\u0916\u093f\u090f \u0915\u093f \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u090f\u0915 \u092b\u094d\u0932\u094b \u0915\u0947 \u0924\u0930\u0940\u0915\u0947 \u0938\u0947 \u092c\u0928\u0924\u0940 \u0939\u0948, \u0907\u0938\u0932\u093f\u090f \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u092f\u0939 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0932\u0917\u093e\u0924\u093e\u0930 \u0938\u093e\u0932 \u0926\u0930 \u0938\u093e\u0932 \u091c\u0941\u0921\u093c\u0924\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u094b \u092c\u0948\u0932\u0947\u0902\u0938 \u0936\u0940\u091f \u092e\u0947\u0902 \u090f\u0915\u094d\u092f\u0941\u092e\u0941\u0932\u0947\u091f\u0947\u0921 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 (Accumulated depreciation) \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964", "\u0905\u0926\u0930 \u0907\u0928\u0915\u092e \u092f\u093e \u0905\u0928\u094d\u092f \u0906\u092f \u092e\u0947\u0902 \u091c\u094b \u091a\u0940\u091c\u0947\u0902 \u0936\u093e\u092e\u093f\u0932 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u0935\u0939 \u0939\u0948\u0902 \u2013 \u0907\u0902\u091f\u0930\u0947\u0938\u094d\u091f \u0907\u0928\u0915\u092e, \u0938\u0947\u0932 \u0911\u092b \u0938\u092c\u094d\u0938\u093f\u0921\u093f\u092f\u0930\u0940 \u0915\u0902\u092a\u0928\u0940, \u0930\u0947\u0902\u091f\u0932 \u0907\u0928\u0915\u092e \u0906\u0926\u093f\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u0915\u0902\u092a\u0928\u0940 \u091c\u092c \u0915\u094b\u0908 \u0928\u093f\u0935\u0947\u0936 \u0939\u0948 \u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u092e\u0947\u0902\u091f \u0915\u0930\u0924\u0940 \u0939\u0948 \u0924\u094b \u0905\u0928\u094d\u092f \u0906\u092f \u092a\u0930 \u0905\u0938\u0930 \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964", "\u0915\u0902\u092a\u0928\u0940 \u091c\u092c \u092d\u0940 \u0915\u094b\u0908 \u0915\u0930\u094d\u091c (\u0932\u093e\u0902\u0917 \u091f\u0930\u094d\u092e \u092f\u093e \u0936\u0949\u0930\u094d\u091f \u091f\u0930\u094d\u092e) \u0932\u0947\u0924\u0940 \u0939\u0948 \u0924\u094b\u00a0 \u0915\u0902\u092a\u0928\u0940 \u0915\u094b \u0907\u0938\u0915\u0947 \u0932\u093f\u090f \u0915\u0941\u091b \u092a\u0948\u0938\u0947 \u0916\u0930\u094d\u091a \u0915\u0930\u0928\u0947 \u092a\u0921\u093c\u0924\u0947 \u0939\u0948\u0902\u0964 \u092f\u0939 \u091c\u094b \u092a\u0948\u0938\u0947 \u0916\u0930\u094d\u091a \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u0907\u0938\u0915\u094b \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0915\u0949\u0938\u094d\u091f \u092f\u093e \u092c\u094c\u0930\u094b\u0907\u0902\u0917 \u0915\u0949\u0938\u094d\u091f \u0915\u0939\u0924\u0947 \u0939\u0948\u0902\u0964 \u0907\u0938\u0940\u0932\u093f\u090f \u091c\u092c \u0915\u0930\u094d\u091c \u092c\u0922\u093c\u0924\u093e \u0939\u0948 \u0924\u094b \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0915\u0949\u0938\u094d\u091f \u092d\u0940 \u092c\u0922\u093c \u091c\u093e\u0924\u093e \u0939\u0948 \u0914\u0930 \u091c\u092c \u0915\u0930\u094d\u091c \u0918\u091f\u0924\u093e \u0939\u0948 \u0924\u094b \u092b\u093e\u0907\u0928\u0947\u0902\u0938 \u0915\u0949\u0938\u094d\u091f \u0928\u0940\u091a\u0947 \u0906 \u091c\u093e\u0924\u093e \u0939\u0948\u0964", "\u0906\u092a\u0915\u094b \u092f\u0939 \u092d\u0940 \u092f\u093e\u0926 \u0930\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u091f\u0948\u0915\u094d\u0938 \u0915\u0947 \u092c\u093e\u0926 \u0915\u093e \u092e\u0941\u0928\u093e\u092b\u093e- \u092a\u094d\u0930\u0949\u092b\u093f\u091f \u0906\u092b\u094d\u091f\u0930 \u091f\u0948\u0915\u094d\u0938 (Profit After Tax- PAT)\u00a0 \u0915\u0902\u092a\u0928\u0940 \u0915\u0947 \u0936\u0947\u092f\u0930 \u0939\u094b\u0932\u094d\u0921\u0930 \u0907\u0915\u094d\u0935\u093f\u091f\u0940 \u0915\u094b \u092c\u0922\u093c\u093e\u0924\u093e \u0939\u0948\u0964", "\u092f\u0939\u093e\u0902 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u0947 \u0935\u093e\u0932\u0940 \u092c\u093e\u0924 \u092f\u0939 \u0939\u0948 \u0915\u093f \u092f\u0939\u093e\u0902 \u0921\u0947\u092a\u094d\u0930\u093f\u0938\u093f\u090f\u0936\u0928 \u0915\u0947 \u0938\u093e\u0925 \u090f\u0915\u094d\u092f\u0941\u092e\u0941\u0932\u0947\u091f\u0947\u0921 (Accumulated) \u0915\u093e \u0936\u092c\u094d\u0926 \u0915\u093e \u0907\u0938\u094d\u0924\u0947\u092e\u093e\u0932 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964\n \u0938\u0930 \u091c\u0940 \u092e\u0947\u0930\u0947 \u0939\u093f\u0938\u093e\u092c \u0938\u0947 (Accumulated) \u0915\u093e \u0936\u092c\u094d\u0926 \u0915\u093e \u0915\u0947 \u0938\u094d\u0925\u093e\u0928 \u092a\u0930 Accumulated) \u0936\u092c\u094d\u0926 \u0915\u093e \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u092f\u0947 \u0925\u093e\u0964", "\u0938\u0942\u091a\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0927\u0928\u094d\u092f\u0935\u093e\u0926, \u0939\u092e\u0928\u0947 \u0907\u0938\u0947 \u0938\u0939\u0940 \u0915\u0930 \u0926\u093f\u092f\u093e \u0939\u0948\u0964", "Thanks a lot", "Is lock down me mene ye sare lessons path liye ye sab hindi me translate karne ke liye thanks you\u2026..lock down ka faida ho gaya", "\u0906\u092a\u0915\u093e \u0927\u0928\u094d\u092f\u0935\u093e\u0926 \u092c\u093e\u0915\u093f \u0915\u0947 \u092e\u094b\u0921\u094d\u092f\u0942\u0932\u094d\u0938 \u092d\u0940 \u091c\u0932\u094d\u0926 \u0939\u0940 \u0909\u092a\u0932\u092c\u094d\u0927 \u0915\u0930\u093e\u092f\u0947 \u091c\u092f\u0947\u0928\u094d\u0917\u093e\u092f\u0964 \u092a\u095d\u0924\u0947 \u0930\u0939\u093f\u092f\u0947\u0964", "Great\nIs this series available in Hindi videos", "This content is only in the form of text to read \ud83d\ude42", "Thanks. For hindi version, i learned a lot of things from you guys.\nMay lord SHREE RAM bless you all.\nThank you", "Happy learning \ud83d\ude42", "Name (required)", "Mail (will not be published) (required)", "", "Post comment", "", "\u0394", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-title1.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart2.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart3.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart4.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart5.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart6.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart7.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart8.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart9.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-title21.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart10.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart11.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart12.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart13.jpg", "https://zerodha.com/varsity/wp-content/uploads/2014/10/M3-Ch7-Chart141.jpg", "https://secure.gravatar.com/avatar/652a8bff5fdd4e21638d9fd1570a19c5?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/32664e0290bb823f7ad01790d40db636?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/5e95b11cc916dd27823d2e4b6c4fba8a?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/35f5a7a41f6eaa1a1e9faa16f0e4c0c0?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/e7f5c80c314208c96c0dc9cbc6fa8544?s=32&d=identicon&r=g", "https://secure.gravatar.com/avatar/be5de1b57c0a4cfdd8c128e3b984d149?s=32&d=identicon&r=g", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "2. Accurate Perceptions of Loss and Risk Aversion", "text": ["Emotions often drive investment decisions. Trading lore is replete with examples of how fear and greed influence the masses to buy and sell at the wrong time. Similarly, behavioral economists have focused on how avoidance of regret powerfully compels many traders to make poor investment decisions. To avoid painful feelings of regret, for example, traders hold on to losing positions, hoping they will turn around, or they sell off a position prematurely to lock in quick gains.", "The interplay between emotions and risk-taking keeps many traders second-guessing their decisions. When we think our next trade will be a winner, we can\u2019t wait to execute it, but when we are uncertain, we put off making a decision, and more often than not, miss a significant market move. The challenge of trading is to accurately perceive risk, control our emotions, and execute a trade calmly and rationally. Overconfident traders, however, may have an inability to accurately gauge their emotionsKarin Tochkov and Edelgard Wulfert, at the University at Albany, SUNY, examined people\u2019s ability to accurately anticipate their emotions after a financial loss. The study happened in two phases. In the first phase, university students were asked to imagine making a gamble and asked to rate how they would feel if they were to realize a loss. For example, they were asked to consider, \u201cHow would you feel if you lost $150?\u201d They rated the extent to which they would feel disappointed.", "A week later, in the second phase, they were brought back to the laboratory for a follow-up visit. Instead of merely imagining they had made a losing gamble, however, they actually made the gamble and felt the real consequences of losing money. Frequent gamblers misjudged their emotional experiences. They underestimated how disappointed they would feel after a loss compared to non-gamblers. The ability to accurately anticipate how they felt after an actual gambling loss was associated with risk aversion.", "These findings suggest that over-confidence and over-trading may be a function of an inability to accurately anticipate future emotional consequences of financial losses. The overconfident trader is likely to think, \u201cit won\u2019t be so bad when I lose.\u201d If you don\u2019t anticipate feeling badly after a loss, you\u2019ll have no problem taking a risk. Indeed, traders who have trouble executing a trade often anticipate the consequences of a loss as more unpleasant than they actually will be. An avoidance of regret has a protective function. As you imagine feeling badly after a loss, you will be reluctant to execute a trade.", "If you are making too many risky trades and are paying a price for it, you might try focusing on how it feels to lose. Perhaps you are not thinking of potential negative consequences of loss. If you focus on how badly you\u2019ll feel after a loss, however, you\u2019ll stop and think through your trading decisions. And you\u2019ll be more likely to manage risk and wait for high probability setups before impulsively making a bad trade. There are times when our emotions interfere with our ability to execute trades calmly and rationally, but if you are prone to seek out risk, you might want to focus on the potential consequences of loss. It will stop you from making trades that may decimate your account balance.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20070611.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "4. Trading Capital: Size Matters", "text": ["How much capital does one need to start trading? Every person who is new to trading asks this question. It\u2019s often the first question that pops up at trade shows and in trading-school classes. But is it the right question to ask? The answer may not be as obvious as it seems. Viewed from a conventional standpoint, one might think that all you need is the minimum amount required to open an account by your brokerage firm.", "The regulators set minimums that vary according to whether one will be trading stocks, options, futures contracts or perhaps a combination of these vehicles, but in practice, the various brokerage firms can, and frequently do, require customers to open accounts with a greater amount than the statutory minimum. It is important to realize, however, that merely meeting the account-size minimum does not necessarily put one in good stead to begin a trading career. A more important question should be asked up front: How much money do I need, not in my trading account, but in my bank account?", "Of course, this is very different from asking how much one needs to merely start trading, and answering the question may require a degree of personal reflection that goes much deeper than calculating how much to put in a trading account. In fact, if trading the S&P E-mini contract, it is theoretically possible to make $300 to $500 or more in profits per day with just $7,500 in an account (currently the minimum to open an account for trading E-minis through Terra Nova Trading, for example). But does this mean that someone who can meet the minimum requirement is in excellent shape to trade? Not necessarily.", "Suppose a novice trader has $7,500 to open an account, but not a dime more to put into it if he or she should lose it all by trading poorly? Under such circumstances, the loss of such a sum \u2013 hardly impossible, even for someone employing conservative trading strategies \u2014 could end that person\u2019s trading career. Could one expect to trade well under such a threat? Probably not, since confidence is crucial to anyone who would seek success at trading, and few things undermine a trader\u2019s confidence so thoroughly as a nagging fear of losing one\u2019s stake. It\u2019s like trading with a gun to one\u2019s head, and it metaphorically describes the trader who is barely able to cover monthly household and business expenses while honing his or her skills.", "It is a problem that has tripped up many a beginner, and it makes success far more difficult to achieve when steady profits are needed just to pay one\u2019s bills. It\u2019s far better for the new trader to be financially secure from the start \u2013 secure enough so that an entire year spent without profit on the learning curve would not impact one\u2019s lifestyle or threaten one\u2019s financial security.", "So we should not fool ourselves into believing that merely meeting minimum account-size requirements will suffice. In fact, if it costs you $80,000 per year on average to meet all household expenses, then you should have at least $80,000 in liquid savings to see you through your first year of trading. This, of course, is in addition to the sum you will use to fund your trading account. Having a sufficient sum in the bank to meet a year\u2019s worth of living expenses will provide a cushion against adversity, as well as a psychological bulwark against the ups and downs that are a normal part of every trader\u2019s learning experience.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041018.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "5. Action Oriented and Winning", "text": ["Trading isn\u2019t easy. Indeed, the odds are against you. But if you succumb to hopelessness, you\u2019ll never become a winning trader. You have two choices: You can wallow in self-pity or you can take action and do whatever it takes to win.", "Depending on your personal background, a host of obstacles can prevent you from trading the markets successfully. Unless you are extremely wealthy, for example, you need to find a way to build up capital to really make enough profits to support yourself and survive the ever-changing markets. No one is a natural-born trader; like all professions, you have to learn to trade. You need to find good training and take the time to learn how to trade. But knowledge by itself doesn\u2019t ensure success. You have to hone your skills to trade profitably. There\u2019s also a psychological aspect of trading that can\u2019t be ignored. You have to learn to accept the risk, take losses in stride, and pick yourself up fast when you feel beaten down.", "Do you think the list of obstacles is too long? It may be long, but the action-oriented positive thinker doesn\u2019t care how long the list is, he or she spends every waking moment trying to figure out a wait to shorten it. In his book, \u201cA Strategy for Daily Living,\u201d trading expert Dr. Ari Kiev notes, \u201cA successful life does not result from chance, fate, or good fortune, but from a succession of successful days lived in pursuit of a worthy pursuit.\u201d Dr. Kiev points out that you can work toward your goal every day, day after day, and eventually even the most elusive goal can be achieved. Perhaps you will make more progress on some days than others, but what is most important is that you never give up and spend every day working toward your goal.", "Many traders make the mistake by thinking they need to be an overnight success. When they trade week after week, month after month, and don\u2019t achieve the profit goals they set, they start to become disappointed. Instead, they should remember that not everyone can learn to trade overnight. It takes time and the right set of circumstances. For instance, it is much easier to learn to trade in a bull market rather than a bear market. If you want to make it in the end, you have to work at it every day.", "Do whatever you can to make steady progress toward your goal. Learn about trading strategies. Paper trade to get a feel for the markets. Work every day and take positive steps.\u00a0 Whatever you do, however, don\u2019t give up. Don\u2019t stagnate. Take positive action and find solutions to problems. If you stick with it, you can learn to master the markets and end up a winner.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041005-1.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "6. Focus on the Action, Not the Prize", "text": ["It\u2019s easy to falter while trading. Suddenly, you get distracted, panic, and make a trading error. When trading with an optimal mindset, in contrast, the winning trader is focused on his or her immediate experience, the market action here and now. The best rule a trader can follow is to focus on the action, not the prize. Many are attracted to trading for the rewarding profits that can be made. Profits can often buy possessions that produce feelings of self-worth or admiration from family and friends. Just like the lyrics of a popular country hit, by gaining success, one can tell all his or her skeptics from the past, \u201cHow do you like me now?\u201d Many are attracted to trading for the prizes, the status, and the glory.", "These can all be strong motivators, but the irony is that if you focus on the prizes too much, you can\u2019t trade profitability or consistently. Just like the athlete who is the favorite to win a competition, when the pressure is on, one usually chokes. Expectations run high and it\u2019s hard to just focus on what needs to get done. When you get your hopes up, you\u2019ve already decided that you\u2019ve earned the prize, and the mere thought that you may lose it is devastating. Losing no longer is a possibility. The only option is to win, and when one works under that assumption, one is usually easily distracted to the point of making a myriad of mistakes that produce losses rather than profits. It is vital that you learn to focus all your attention on your immediate experience, not on the potential rewards.", "", "The famous psychotherapist Fritz Perls once said that fear and anxiety happens when we mull over the past and worry about what might happen in the future. If we can focus on the hear-and-now, instead, we\u2019ll enjoy our ongoing experience and live in the moment. The minute we start worrying about what might happen in the future, our focus shifts away from what we\u2019re doing. We lose concentration, and at critical moments of a trade, a lack of focus can spell disaster.", "The most common reason for losing focus is thinking about the big prize at the end. If you start thinking, \u201cI can\u2019t wait to make a profit and bask in the glory of success,\u201d you\u2019ll lose focus. You may even start thinking, \u201cI must win on this trade.\u201d That kind of thinking is unproductive in the end. In all likelihood, you\u2019ll start to panic and make a trading error. The more you can focus on the intellectual challenge of trading as you make a trade, the more likely you\u2019ll execute your trading plan effortlessly and trade profitably and consistently.", "That said, it is fun to think of the big prize occasionally, but not during trading hours, and not very often. It may be motivating during off-hours to think about the potential long term rewards trading may bring, the big picture. But there is a difference between feeling you \u201cmust\u201d have the prize and merely thinking, \u201cit would be nice\u201d to have the prize. The thought may even cross your mind during the trading day, but it is essential not to dwell on it. If you are only motivated by the potential rewards, it is important to acknowledge that your primary motivation for trading may be the prizes you may win.", "If you truly believe this and try to block out of your consciousness, it will creep in and influence you, usually negatively. If you study this assumption closely, however, and truly convince yourself that it isn\u2019t a good reason to pursue trading, you\u2019ll neutralize the belief. Traders who are motivated by prizes don\u2019t end up trading very long. In the end, you must trade for the love of the endeavor. Trading offers it\u2019s own reward, regardless of whether you win or lose. In the end, if you can focus on the ongoing experience of trading, you will feel more fulfilled as a trader, you will trade more effortlessly, and you will trade more profitably.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041013.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "7. Detailed Action Plans: A Precursor For Trading Success", "text": ["In our everyday lives, we are used to doing things reflexively, on the spur of the moment. For example, we don\u2019t consciously think about making a turn as we drive; we just do it automatically without thinking. But it wasn\u2019t always that way. When we first learned how to drive, we deliberately planned every move. It\u2019s also true when playing sports. At first, you needed to consciously and deliberately perform each action. Over time, with practice, you were able to perform each action skillfully, hardly thinking at all. Despite their experience learning various skills throughout their lives, novice traders, however, think they can trade on the spur of the moment. They don\u2019t carefully plan a trade and follow the trading plan when it is time to execute it. But detailed trading plans are an essential ingredient for success.", "", "When you first start out trading, it is difficult to trade on the spur of the moment. There are too many issues to attend to, and without a wealth of experience, you are bound to make mistakes. Making a specific action plan while trading has clear benefits. Scientific research illustrates how action plans help people achieve their goals. Dr. Peter Gollwitzer, Professor of Psychology at New York University, has conducted several studies that demonstrate the benefits of making specific plans that outline when, where, and how to perform an action.", "For example, it\u2019s useful to determine beforehand that when Market Condition X happens, and Pattern Y appears, then you should enter at a prescribed moment, set a protective stop, and monitor the trade until Z occurs. Knowing when, where, and how to help you perform effortlessly and gracefully. Specific plans help us respond quickly and automatically when it is necessary. When we make a plan beforehand, we can follow it, acting swiftly and efficiently.", "What does research on making plans reveal? In a review of relevant studies on making specific action plans, Dr. Gollwitzer argues that plans allow people to more easily remember what to do specifically. They don\u2019t waste time trying to recall what it is they are going to do. They have decided what to do, and when, beforehand and have little trouble doing what they had planned. Second, research has shown that people respond quickly when they have a plan to follow.", "If you have a clearly defined plan, you are ready to respond more efficiently when optimal market conditions arise. Third, when people have a plan, they can more easily ignore interruptions and distractions. They are able to more easily focus on the task at hand, maintaining self-control. Action plans are especially useful when trying to respond during high-stress situations, such as during a day when the market action is hard to pin down. Trading the markets on an especially chaotic day can be stressful. A series of decisions need to be made on the spot. But the human mind has limitations.", "We can only attend to a limited amount of information at a time. A detailed trading plan, however, allows us to focus our limited psychological energy more efficiently. We respond swiftly and confidently when we have a plan. So if you want to trade like a winner, make a detailed trading plan and follow it. You\u2019ll be glad you did in the long run.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041020.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "8. A Trading Fable", "text": ["Did your parents read you fables as a child? Fables are often fanciful and improbable tales that have a lesson to teach. Here\u2019s a thought-provoking trading fable.", "Once upon a time, there was a novice trader named Bert who tried to aggressively trade a $30,000 account in order to make big returns each week. In one of his biggest trades, he meticulously followed the stock price of a company called Secure, Inc. He diligently studied the price movement in an attempt to discern its unique price cycle. For the past six months, the stock traded at around $30 with a 52-week low of $29.50. Bert noticed that new product announcements usually produced a $1 bump. He purchased 1,000 shares at $30 in an attempt to take advantage of a product announcement at the end of the week.", "He figured that he could quickly cash out for a nice $1,000 profit. \u201cWhat is the most I could lose?\u201d he thought. Assuming that the price was to fall to $29.50, the most Bert could lose in theory was $500. Unfortunately, disaster struck. He thought he had accounted for everything, but he had a run of bad luck. He thought he had put in a protective stop, but due to a software glitch, he wasn\u2019t actually protected. Next, the CEO of The Secure, Inc. was indicted for embezzlement, and the product announcement was postponed due to a shortage of essential raw materials. In addition, an interest rate hike deterred many investors. Unexpectedly, the price fell hard to $25. Bert lost $5,000.", "", "So what\u2019s the moral of the story? First, it\u2019s hard to predict every possible adverse event. As much as we want to anticipate and account for everything that can go wrong, we can\u2019t. What may seem like a good idea when we execute a trade may seem like a bad idea in hindsight. But the wise trader doesn\u2019t get overly upset when this happens. He or she tries to control as much as he or she can, but at the same time, he or she accepts the things that cannot be controlled. Second, it\u2019s useful to be skeptical. You can\u2019t become overly obsessed with every possible adverse event, no matter how unlikely, but you must be ready for the worst. You should be psychologically prepared for big setbacks and be ready to take them in stride should they occur.", "Disasters do happen, but they are only truly awful if you interpret them as such. If you go into trading expecting unpleasant things to happen occasionally, you\u2019ll be able to snap back quickly and be ready to take advantage of the next market opportunity. Bert has two options. He could either beat himself up for not accounting for every possible adverse event, or he could chalk up the losing trade to experience and immediately figure out how he can make up the loss. In this case, the ideal tack for Bert to take is to stay calm and to actively figure out ways to make new, more profitable trades. Third, he might want to be a little more realistic in his goals. Considering the size of his account, he may have been taking a little too much risk for a novice trader.", "Chaos and uncertainty are commonplace in trading. No matter how much we want to account for every possibility, we can\u2019t. Winning traders accept what happens and actively and enthusiastically forge ahead.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041102.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "9. It\u2019s Easier to Face Fear than Avoid It", "text": ["Jack fantasizes about becoming a profitable trader. He dreams of big wins and of amassing a great deal of wealth. In the back of his mind, he imagines that if he were wealthy, he could have a life full of luxury and status. Sound familiar? Many newbie traders are drawn to trading to fulfill fantasies of wealth. It\u2019s natural to desire wealth. The quest for wealth and greatness has consumed mankind for generations. It is a strong motivator, but there is a time and place for fantasies and dreams. And conventional wisdom among experienced traders is that, in the end, the prizes go to the humble that seek out nothing more than the joy of trading: the inherent rewards trading offers is fulfilling in its own right.", "That said, trading is often quite tedious at times. Traders must make trade after trade, day after day, month after month. Even the most pleasurable activity loses some of its appeals when it must be done over and over again. In addition, one must make a living. If you don\u2019t make enough profits to balance out your losses, you won\u2019t survive. There\u2019s a real fear lurking in the back of most traders\u2019 minds; it is quite probable that you\u2019ll lose your edge and blow out or the stress will get to you and you\u2019ll burn out. In the end, you won\u2019t be able to trade. These possibilities are difficult to accept, and the most common way of dealing with them is often to just pretend it isn\u2019t going to happen. Although it\u2019s easy to avoid unpleasant possibilities in the short run, it is necessary to face them eventually. So you might as well do it sooner than later.", "", "A common irrational belief is that it is easier to avoid acknowledging the unpleasant than dealing with it head-on. But we are most anxious and fearful when we anticipate an impending disaster than when we face an unpleasant fact decisively and with courage. It is better to make active plans than waiting for a disaster to happen. And that is what you\u2019re doing if you avoid considering the possibility that unless preventative steps are taken you can easily blow out or burn out. In both cases, facing the problem decisively will save you time and effort.", "As a novice trader, it is quite possible that until you develop reliable trading strategies and gain experience with the markets to know when they will work and when they will not, you will wipe out your account balance. Pretending it can\u2019t happen will make things worse. It is essential to take two steps: Limit your risk on any single trade and have an alternative plan should you blow out your account. Limiting your risk will increase your odds of surviving the learning curve. And if you cannot survive the learning curve, you should have a realistic recovery plan. Perhaps, you have a part-time job lined up to make extra capital, or you may want to stop trading immediately and get more training before you continue.", "The main point is that it is essential to have active plans to prevent a disaster than passively wait for it. For example, many traders trade day after day without getting the proper amount of rest and relaxation. Some people believe that it is necessary to trade day after day to stay ahead of the competition. The problem is that everyone has limited energy. It is necessary to take frequent rests, and even take a long break when needed. Pretending that you can trade as if you are a superhero isn\u2019t going to prevent burn out. To prevent, burn out, you must take breaks from trading, even if the break lasts months or years. Pretending that you can beat the natural limits of the human mind or body isn\u2019t going to change matters. Again, it is worse to pretend you can do the impossible than face the possibility of a disaster and take decisive action to prevent it.", "There is a natural desire to avoid looking at potential problems. Trading is demanding and stressful. Unless you take preventative steps, it is quite possible that you will make matters worse. Rather than avoid thinking about it by taking no action, it is better to take active, decisive steps. Face problems head-on before they get the better of you. In the long run, you\u2019ll find that you will trade more profitably.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20040730.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "10. Regret: A Powerful Emotion You Must Face", "text": ["When trading the markets, one often faces actual harm: If you bet a lot of capital on a single trade, and it goes against you, you lose it. The harm isn\u2019t imagined; the actual loss of money is painful. It hurts, and you may often regret having made the trade. There\u2019s a very human instinct to avoid pain at all costs. Not only is the actual loss of money painful, but also the mere feeling of regret from making a bad trade. Regret is so incredibly painful at times that many traders avoid even putting on a trade for fear of having to face the regret of loss later. It\u2019s as if the subsequent regret after making a loss is more disturbing to the psyche than the actual loss itself.", "We feel regret once we realize we have made the wrong decision, such as making a losing trade. And if we put a lot of ego on the line with that decision, the hurt intensifies. For example, if we do an extremely careful analysis, and start to think that the analysis was so good that it validates our talent as a skilled trader, we\u2019ve put a lot of self-identity on the line with our money. Whether we are conscious of it or not, we tend to think, \u201cI\u2019ve put a lot of effort into this trade, and I think I\u2019m right. But if I\u2019m wrong, it suggests that I\u2019m not as great of a trader as I had thought.\u201d", "If we were to make a trade on a whim, in contrast, we may still feel the regret of the loss, but it won\u2019t hurt as much. We didn\u2019t put our ego on the line, so we can easily write off the losing trade psychologically: \u201cIt\u2019s not my fault that I lost money on that trade. I just made the trade on a whim.\u201d Feelings of regret are painful, and some people will do anything to avoid feeling such unpleasant and disturbing emotions. And, at first glance, it often seems as if the easiest way to avoid feelings of regret is to just avoid making decisions. If you don\u2019t make decisions, you can\u2019t be wrong or feel regret. Although this seems like an obvious solution to avoiding the unpleasant feelings of regret, you may see that if you avoid making trades (or make poorly planned trades on a whim to protect your ego), you cannot pile on profits, which is the ultimate goal of trading. A more practical solution is to learn to face regret head-on.", "There are a few simple ways to cope with regret. The most important way to cope with regret is to accept the fact that regret is an emotion that you\u2019ll be likely to experience as a trader. You\u2019re going to make losing trades, and if you don\u2019t take proper precautions, you will feel regret. It\u2019s not useful to delude yourself into thinking that you can avoid regret completely. That said, you can feel relief in knowing that you can take steps to minimize its powerful influence. For example, you can remind yourself that regret is not nearly as bad as you are making it out to be.", "Many times, all humans tend to overstate the adverse effects of a dreaded outcome. We tend to think that a losing trade would be awful, terrible, or catastrophic. In fact, if we control our risk on the trade, and plan it out carefully, the risk will be minimized and not catastrophic at all. Under such conditions, one\u2019s potential demise is greatly exaggerated. A useful thinking strategy is to remind yourself, \u201cI\u2019m making more out of the potential loss than it deserves; it is not going to be as unpleasant as I\u2019m thinking it will be.\u201d Another way to minimize regret is to try to impersonalize the trade.", "Think in terms of probabilities, \u201cThis is just one of many trades. The outcome of this single trade means nothing. The big picture is all that counts.\u201d By reminding yourself of the relative insignificance of a single trade, you\u2019ll minimize the potential regret should you lose. Similarly, it\u2019s also important to remember that a single losing trade (or even a few losing trades) doesn\u2019t mean that you have poor trading skills; it may just be a run of bad luck. There\u2019s no point in making the outcome of a trade symbolic of your skills as a trader. And, most importantly, never put your self-worth on the line with your money. You\u2019re a professional. The outcome of the trade should not influence the positive view you have of yourself as a person.", "Don\u2019t let the tendency to avoid regret influence your trading decisions. Regret can be a powerful emotion. It can be so painful at times that one avoids making decisions, and it may lead to putting on trades on a whim to protect one\u2019s ego. But it\u2019s not necessary to let the fear of regret influence you. Keep in mind that if you make a losing trade, you may feel a little regret, but you can handle it.\u00a0 Don\u2019t try to avoid regret. Face it head-on. You\u2019ll feel more free and powerful.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041004.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "11. The Unconscious Drive to Fail", "text": ["Ask traders about their reasons for trading, and most will tell you, \u201cI want to make huge profits.\u201d Although most traders get into the business to make a significant return on their money, the vast majority blow out their accounts. Why do so many traders fail? The obvious reason for many is that they just don\u2019t know how to trade. They don\u2019t use proper risk controls. They don\u2019t have enough financial resources. They don\u2019t have proper instruction or an efficient trading platform. They don\u2019t have solid, reliable trading strategies. And for many, they don\u2019t have good reference points; they don\u2019t have a clear understanding of how the markets work.", "Any or all of these factors can spell disaster for the novice trader. One doesn\u2019t need to explore the depths of one\u2019s psyche to find other reasons for failure. That said, there\u2019s an interest among many would-be traders as to the extent of unconscious processes thwart their trading efforts. Perhaps, unconsciously, there is a hidden motive for self-sabotage. Seasoned traders are especially interested in this topic. Many prominent, highly successful traders end up losing most of their capital in the end, and many never come back. Some have speculated that a hidden motive for self-sabotage is the reason for such failures. It\u2019s worth considering in a little detail, either just for fun or as a serious line of inquiry, depending on your preferences and worldview.", "Years ago, Freud wrote about people who fail after achieving great success in \u201cThose Wrecked by Success.\u201d According to Freud, some people feel guilty and physically ill upon attaining a lifelong dream. Upon experiencing success, they aren\u2019t comfortable with it, and unconsciously take steps to punish themselves for being successful.", "Most contemporary research psychologists, in contrast, do not think people seek out failure, consciously or unconsciously. People experience failure because they cannot master difficult situations. In other words, traders don\u2019t repeatedly fail because they have an unconscious wish to spoil their efforts, but trading is just plain hard. Traders repeatedly fail because they don\u2019t have proper financial resources, solid trading strategies, or the proper mindset.", "Psychoanalyst Roy Shafer argues, however, that some people view \u201csuccess\u201d as a type of failure, and in a twisted way, they avoid \u201csuccess\u201d because unconsciously they view it as a failure. For example, in one case study, a young man avoided success because he was afraid of doing better in life than his father, who was a failed all through his life. Veteran traders have made similar observations. Some novice traders don\u2019t trade merely to make profits. They have a hidden agenda. They want to show their family and friends that they could be a success.", "The problem with finding oneself in this circumstance is that while one may consciously strive for success, one has been given a powerful psychological message that he or she cannot succeed, and is not worthy of success. Unconsciously, it\u2019s hard (but not impossible) to prove these significant others wrong. Whether good or bad, what your friends and family think of you is important. They define who you are, and unconsciously, you may not want to prove them wrong. It\u2019s best not to let such psychological issues impact your trading, however. Always trade for yourself. Trade because you want to, not because you are out to prove anything to yourself or someone else. Doing so raises the stakes so high that you\u2019ll put a lot of pressure on yourself to succeed, and that usually leads to failure.", "As we\u2019ve often said in this column, unconscious processes may not play a role for everyone who pursues trading. It\u2019s an issue for some people, however. If you think your reasons for trading may reflect a need to satisfy past unconscious conflicts, it\u2019s wise to work through some of these issues with a trading coach or other professional. Don\u2019t let unconscious motives get the better of you. Identify them, work through them, and trade freely, effortlessly, and profitably.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041007.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "13. Making Sense of it All", "text": ["Social psychologists are often fond of saying that people are \u201clay scientists.\u201d Like formal scientists, they try to understand their world. They make hypotheses and test them. Rather than conducting formal experiments, however, they use their everyday experience to test out theories they have about people. We do the same thing when we learn how to trade. We study the markets and try to develop our own personal theories about how the markets work. Because we don\u2019t conduct formal experiments, though, we may fall prey to psychological biases. One of these psychological biases is the false consensus effect: we tend to wrongly think that others believe what we believe and do what we will do, but that\u2019s only our perspective and it can mislead us.", "Short term trading is often about anticipating what the masses will do. Will they buy or will they sell? It can be hard to do. Take the past two weeks, for example. With the war, the hurricane, and high oil prices, one might think that the masses would bail out of the markets. But they didn\u2019t. It goes to show that you can\u2019t always anticipate precisely how people will react to world events. It\u2019s all a matter of having the right perspective, and it can be hard to find that perspective at times. Perhaps it can\u2019t be done easily, but it\u2019s essential that we try.", "Why is it difficult to anticipate what people will do? Part of the problems lies in the fact that we are mere mortals. Humans have a limited capacity for understanding complex information. In some ways, people can process information better than a computer, but in other ways, they cannot. Many times, we use heuristics or rules of thumb to make decisions.", "The false consensus effect is one of those rules of thumb that may bias our decisions. No matter what decision you ask people to make, no matter how important the issue, and no matter what choice is made, social psychologists have demonstrated that people over-estimate the number of others who agree with them.\u00a0 There is a natural tendency to believe that our decisions are relatively normal, appropriate and similar to what our colleagues and peers would do in a similar situation. We use our decisions as an \u201canchor\u201d and evaluate what others would do based on what we would do. This decision-making bias can contribute to feelings of over-confidence.\u00a0 Once we make a decision, we tend to be confident that we are correct and that others will agree with us, but had we seen the situations from their perspective, we may see that they would behave quite differently.", "One explanation for the false consensus effect concerns how people make a decision. When making a decision regarding a position, people try to piece together evidence to arrive at a decision. At some point, they organize all the information that supports one alternative over another while discounting contradictory information. After a decision is made, evidence supporting one\u2019s decision is readily \u201cavailable\u201d in memory and is easy to remember.\u00a0 When asked to decide how many people would make a similar decision, people still have these various pieces of confirming evidence in mind, can easily recall them, and believe that others will behave as they do based on the information they recall. Estimates of what others will do are based on inaccurate memories, rather than objective facts.", "This bias often operates in the trading realm. As a trader, you are constantly trying to anticipate how the masses will behave. You look at and interpret the data in front of you and draw a conclusion. The only perspective you have to go on, however, is your own. And that perspective may be off.", "How can we defeat the false consensus effect? The best defense is to gain awareness of it. Remind yourself that you are acting on imperfect information. You must accept this fact of trading, but you can work around it. Always be a little skeptical. Manage risk and be ready to accept the fact that you may be wrong. You\u2019re human, after all, and you are prone to make biased decisions occasionally. Rather than beat yourself up, it\u2019s better to take it in stride and move on.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041118.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "14. Fear of a Sudden Turn of Events", "text": ["You have several positions open and things have been going well for the past few months. Suddenly, there is yet another interest rate hike right on the heels of a month of bad weather and natural disasters. As might be expected, the markets take a dive and many of your positions lose value. What do you do? If you are a seasoned trader, you wait it out. You realize that the slight downturn is temporary and wait for the market to return to its previous trend. But many traders are not so sure of how to react. When they watch their portfolio lose money, they panic and start thinking it\u2019s the start of a major bull market. What\u2019s your usual reaction? For many, it\u2019s fear. But fear at critical moments of investing can spell doom.", "The tendency to experience fear has a biological and genetic basis. Fear is related to the fight-or-flee response. Fear is a very basic response that animals use to survive in the wilderness and it\u2019s controlled by very primitive parts of the brain. The fight-or-flee instinct can be very adaptive. When harm is perceived, a wild animal must mobilize resources and make a quick decision to either fight the opponent or flee to safety. When trading the markets, however, the fear instinct can throw you off course. You don\u2019t want to panic and sell off positions impulsively because you irrationally fear that a temporary downturn is the sign of impending doom. Instead, you want to evaluate your options calmly and rationally and make a prudent decision.", "It\u2019s vital to manage your fear and not allow it to make you respond irrationally. When your money is on the line, however, it can be hard to think clearly. How can you control fear? In his book, \u201cTrading to win,\u201d Ari Kiev offers a quick and effective way of controlling fear: Acknowledge you are afraid and the feeling will pass through your consciousness and lose all power. Refusal to acknowledge fear allows the feeling to perpetuate while admitting that you are afraid will allow the feeling to diminish.", "The first step in conquering fear is to merely admit that you are afraid. A second way to manage fear is to trade small positions. The less money on the line, the less risk you are taking, and the less fear you are likely to experience. Third, manage risk. By using protective stops and by risking only a small percentage of capital on a single trade, you will feel more at ease and can more easily manage fear. Fourth, you can trade more cautiously by making sure that your trading plan is consistent with a broader trend.", "For example, suppose you have a day trade where you are forecasting the market to be bullish. If the longer-term trend of the market is also bullish, you will be taking less risk. Even if the market moves against you during the day, you know that in a worst-case scenario, you can wait it out and minimize your losses, or even make a profit. Finally, if things get too rough emotionally, you can stand aside for a while and paper trade. If you are especially prone to fear, it is probably because you have recently had several losing trades, and because of these losses, fear is \u201cassociated\u201d or \u201cclassically conditioned\u201d with trade execution. When you enter a trade, you automatically and instantly become fearful. The feeling may be overwhelming and seem impossible to control.", "Effective procedure psychologists have used to combat excessive fear is called \u201csystematic desensitization\u201d or \u201ccounter-conditioning.\u201d In essence, this procedure capitalizes on the fact that it is impossible to experience both the fear response and the relaxation response simultaneously. By preventing the fear response from occurring by feeling relaxed, a previously fearful event will lose its potency and no longer illicit fear. Pretend that you are putting on a trade, but since you are not risking any money, you will feel little fear. Once you are able to control your fear while trading on paper, you are ready to up the ante.", "Put on a small trade with minimal risk. Again, try to relax and prevent the fear response from occurring. If you become fearful, go back to trading on paper until you can prevent the fear response from occurring by using a relaxation procedure. Gradually execute trades that require greater risk and work your way up until you can put on a relatively risky trade without experiencing fear. Whatever you do, don\u2019t let fear interfere with your trading. Learn to control your fear. If you can trade freely and calmly, you can trade profitably.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041116.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "15. Refuting Core Beliefs: A Remedy for the Fear of Failure", "text": ["Our outlook and expectations dictate how we approach trading. For example, if we are extremely fearful, we will be reluctant to take risks, and at an extreme, we may even be afraid to even put on a trade. Our expectations, whether conscious or unconscious, have a powerful influence on our trading performance.", "Traders face many common fears, and underlying each fear are core beliefs and assumptions that should be identified and refuted. For example, in his book, \u201cTrading in the Zone,\u201d Mark Douglas identifies trading fears that are responsible for many trading errors: being wrong, losing money, missing out, and leaving money on the table. Many of these fears reflect a fear of failure.", "The best way to neutralize fear of failure is to identify the core assumptions that underlie this fear and refute them. Albert Ellis, a prominent psychologist, claims that behind the experience of all emotions, such as fear, is a set of core assumptions and beliefs. Many times these core assumptions are \u201cmaladaptive\u201d in that they restrict our actions. Rather than face problems head-on, we avoid dealing with them, trying to deny their existence. Oftentimes, however, it is useful to merely identify our false underlying assumptions and change them.", "The core assumption underlying the fear of failure, for example, is the belief that one must be thoroughly competent, adequate, and achieving. Ellis claims that holding such a belief produces fear and anxiety, which for traders often produces hesitation and self-doubt. The development of this belief is understandable. As we grow up, whether it is at home, school or work, we often face adverse consequences for not being scrupulously proficient, and we begin to believe that we must be thoroughly competent, adequate, and achieving in everything that we do. We pay a price for this belief, however.", "If we believe that we must always be competent, we will expend all our precious psychological energy mulling over the negative consequences of failing, rather than focusing on what we are doing in the here-and-now to implement our current trading plan. Traders who believe they must be thoroughly competent spend all their time worrying about what they did wrong, what may go wrong, and how they will recover should they fail. These thoughts are distracting and obscure the flow of immediate experience, and the ability to read current market activity with unfailing accuracy.", "Don\u2019t let a fear of failure interfere with your trading success. You don\u2019t have to be perfect. As any seasoned trader will tell you, one is bound to make mistakes occasionally, and if you are consumed with avoiding them, you\u2019ll be so anxious and fearful that you will make even more mistakes. To refute the core belief that underlies the fear of failure: Remind yourself that it is not useful to believe that you must be thoroughly competent, adequate, and achieving. No trader can live up to that standard, and ironically, trying to will actually lead to incompetence and failure.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041115.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "16. Paralyzed by a Fear of Failure", "text": ["Jack has just made five losing trades in a row. His confidence is shaken, and now he is reluctant to make another trade. He thinks, \u201cWhy should I try again. I\u2019ll just lose again. If I lose one more time, I don\u2019t think I can take it.\u201d Our outlook and expectations influence how we approach trading. Jack has experienced so much failure recently that it has changed his outlook. He is stunned, and rather than anticipating a win, he expects failure. He is now paralyzed by a fear of failure. He\u2019s having trouble putting on another trade. When it comes to trading, however, it is necessary to get the law of averages to work in your favor. And that often means making trade after trade to discern if the trading strategy is faulty or that market conditions have changed. Being paralyzed doesn\u2019t help. It is necessary to counteract the fear of failure and to motivate oneself to press on in the face of unending setbacks.", "", "The best way to neutralize fear of failure is to identify the core assumptions that underlie this fear and refute them. Many times a fear of failure concerns one\u2019s tendency to avoid facing problems head-on. Rather than face our fears, we tend to believe that it is easier to avoid dealing with them by denying their existence. Fortunately, we can often beat this fear by realizing that facing our fears isn\u2019t as difficult as we expect them to be.", "Another core assumption that underlies the fear of failure is the belief that one must be thoroughly competent, adequate, and achieving. Holding such a belief produces fear and anxiety, which for traders often produces hesitation and self-doubt. It\u2019s easy to see how we developed this belief, although it is often maladaptive. While growing up, whether it was at home, school or work, we often faced adverse consequences for not being scrupulously proficient. Thus, over time, we learned to believe that we must be thoroughly competent, adequate and achieving in everything that we do. We pay a price for holding this belief, however.", "If we believe that we must always be competent, we will waste all our limited psychological energy mulling over the negative consequences of failing, rather than focusing on what we are doing in the here-and-now to implement our current trading plan. Traders who believe that they must be thoroughly competent tend to spend all their time worrying about what they did wrong, what may go wrong, and how they will recover should they fail. These thoughts are distracting and obscure the flow of immediate experience, and the ability to read current market activity with unfailing accuracy. It is vital to acknowledge the emotional consequences of holding these beliefs and realize that holding them lies behind your fear of failure. By refusing them, you\u2019ll be able to neutralize your fears and get past them.", "Don\u2019t let a fear of failure interfere with your trading success. You don\u2019t have to be perfect. As any seasoned trader will tell you, one is bound to make mistakes occasionally, and if you are consumed with avoiding them, you\u2019ll be so anxious and fearful that you will make even more mistakes. So remind yourself that it is not useful to believe that you must be thoroughly competent, adequate, and achieving. No trader can live up to that standard, and ironically, if you try to, you\u2019ll have difficulty trading profitably and consistently.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20041110.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}

{"title": "17. Getting Worked Up For Nothing", "text": ["Jack\u2019s been trading for the past five years, and he has put in a heroic effort. He worked two jobs to build up enough capital to trade and have a realistic chance of success. He spent nights and weekends learning new, innovative trading methods. Has it paid off in terms of profits? No! Jack is starting to get fed up. He has sacrificed and he has put in a heroic effort, and can\u2019t help but think his trading goals are merely pipedreams. Ever felt this way? If you\u2019ve been trading the markets for the past few years, you know exactly what I mean. It\u2019s at times like these, however, that you need to think strategically rather than emotionally. It\u2019s times like these where you have to start working even harder to achieve financial success.", "We\u2019ve interviewed over one hundred traders in our studies at Innerworth, and we\u2019ve found that the traders at the top of the field have had some serious setbacks. They\u2019ve lost thousands, even millions, of dollars before making it big. That doesn\u2019t mean that you should plan on needing to make and lose thousands of dollars to master the market, but this observation illustrates the magnitude of the setbacks that a master trader must face before reaching the top. When you face a setback, you have two choices: You can find a new profession or you can pick yourself up by your bootstraps and work persistently to turn things around.", "A can-do attitude is essential for success, but it can be difficult to maintain optimism when faced with constant setbacks. It\u2019s natural to get fed up. Your emotions take over. Your thoughts become consumed with frustration. You start thinking, \u201cIt\u2019s not fair. I\u2019ve tried so hard and I SHOULD get a big payoff for it.\u201d It would be nice if the markets would behave in a manner consistent with our expectations, but we have to go where the markets take us. We have to accept whatever the markets want to give us and accept what we can take out of the markets. If you give in to pessimism and frustration, you\u2019ll never take any profits out of the markets. Rather than allow your emotions to take over, it is vital to regaining your optimistic, mental edge.", "How do you do it? First, acknowledge that trading is a challenge. Don\u2019t take a Pollyanna approach to trade. Don\u2019t fool yourself into thinking it\u2019s easy. You\u2019ll just set yourself up for failure and be especially disappointed when you face a setback. \u201cHard\u201d doesn\u2019t mean \u201cimpossible.\u201d If you acknowledge the challenges inherent in mastering the markets, you\u2019ll develop a realistic, methodical plan to overcome obstacles. Second, admit your frustration. Trading expert Dr. Ari Kiev suggests that if you acknowledge your feelings, they will dissipate. If you admit your frustrations as they happen, they will pass, and you can then get ready to overcome the setback. Third, you must be ready to cultivate an optimistic attitude. Think positively.", "Trading is something that you can learn. If you put in the effort, you will eventually succeed. You may not be an overnight success. You may not be a natural-born trader, but you will succeed.\u00a0 Finally, always think strategically rather than emotionally. It\u2019s important to focus on solving problems rather than reacting to setbacks emotionally. Don\u2019t get fed up. When you face a setback, pick yourself up. You\u2019ll find that with enough work, you\u2019ll make the profits you want.", "Comments are closed.", "Varsity by Zerodha \u00a9 2015 \u2013 2024.\r\n\t\t\t\t\tAll rights reserved.\r\n\t\t\t\t\tReproduction of the Varsity materials, text and images,\r\n\t\t\t\t\tis not permitted. For media queries, contact [email\u00a0protected]"], "images": ["https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo.png", "https://zerodha.com/varsity/wp-content/themes/varsity2/images/logo-small.png", "https://zerodha.com/varsity/wp-content/uploads/2019/11/20050311.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/playstore.png", "https://zerodha.com/varsity/wp-content/themes/varsity2//images/appstore.png"], "tables": [], "videos": []}