Disclosures

“Investment in securities market are subject to market risks. Read all the related documents carefully before investing.”

Bindul N Shah is registered with SEBI as Research Analyst with INH0000003663 as the SEBI registration number. BSE has Enlisted Bindul N Shah as a Research Analyst  with Enlistment number 5213. The registered office address of Bindul N Shah is 16/A, Chintamani  Society, Ramnagar, Sabarmati, Ahmedabad- 380005.

Information present in the material prepared by the us and on our website shall not be considered as a recommendation or solicitation of an investment. Investors are responsible for their investment decisions and are responsible to validate all the information used to make the investment decision. Investor should understand that his/her investment decision is based on personal investment needs and risk tolerance, and information present in the material prepared by the us and on our website is one among many other things that should be considered while making an investment decision.

Investments in securities market are subject to market risks. Read all the related documents carefully before investing. 

Registration granted by SEBI, enlistment of BSE Limited (Research Analyst Administration and Supervisory Body) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

 The investor is requested to take into consideration all the risk factors before actually trading in derivative contracts.

We and our associates, officers, directors, and employees, Research Analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company (ies) forming part of the products or reports created by the company or (b) may have other potential/material conflict of interest with respect to any company(ies) in various products or reports created by the company. Any such positions of conflict of interest will be appropriately disclosed and dealt with in accordance with applicable law.

We do not provide any promise or assurance of favourable view for a particular industry or sector or business group in any manner. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and take professional advice before investing.

The analysts for various products or reports created by us certify that all of the information /material therein accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to company(ies) in various products or reports created by the company. No part of this material may be duplicated in any form and/or redistributed without the prior written consent.

Bindul N Shah does not offer any advisory, Buy / Sell recommendations via any Telegram or Whatsapp channels. He does not offer any fixed or assured returns to any anyone whatsoever. If you have encountered any channels on Telegram or recieved any DMs on Facebook or Instagram they are from a fake or impostor channel. Please beware! 

Bindul N Shah is a Research Analyst and does not offer any advisory or PMS services.

 

Contact Details:

Support Contact: +91 9033001944

Support Email: bindul.shah@yahoo.com

 

Compliance Office Details:

Name: Bindul N Shah

Email: bindul.shah@yahoo.com

Contact: +91 9033001944

 

Grievance Office Details:

Name: Bindul N Shah

Email: bindul.shah@yahoo.com

Contact: +91 9033001944

 

Terms and Conditions for Research Analyst Services

1. Introduction
These Terms and Conditions ("Agreement") govern the provision of research services by Bindul Shah, a SEBI-registered Research Analyst (Registration No. INH0000003663), hereinafter referred to as "RA" or "Service Provider," to the client ("Client" or "You"). By availing of the research services, you agree to abide by these terms.

2. Scope of Services
The RA provides independent research reports, stock recommendations, and market analysis based on publicly available information. Services include:

• Publishing research reports.
• Providing unbiased investment opinions.
• Offering sector-based, thematic, and fundamental research.
• Ensuring compliance with SEBI and Research Analyst Administration and Supervisory Body (RAASB) guidelines.

The services include advisory for share and securities, including but not limited to stock delivery, derivatives, indexes, mutual funds, debt, liquid securities, or any other securities governed by the SEBI.

The RA shall not execute trades on behalf of the client or provide any portfolio management services (PMS) or investment advisory services.

3. Mode of services

The RA shall provide services through website https://stockplanner.in/ or application.

4. Fees & Payment

• Fees for research services depend upon the nature and tenure of the services availed by the Client.
• While subscribing to the services on website/application, the Client agrees to the terms of the contracts.
• The fees shall be as per the prescribed SEBI/RAASB guidelines.
• The maximum fee chargeable per client family is ₹1,51,000 per annum. Family shall comprise of the Client (individual or HUF), spouse, dependent children and dependent parents.
• No threshold of maximum fees shall apply in the case of non-individual/non-HUF clients. In such cases, the fees shall be mutually agreed upon between the RA and the Client.
• Clients shall pay fees through approved banking channels such as NEFT, RTGS, UPI, or cheque.
• Advance fees shall not exceed one year of the service period.

5. Disclaimers & Limitation of Liability

• Investments in securities are subject to market risks, and past performance does not guarantee future returns. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report. Any reliance placed on the research report provided by the RA shall be as per the client’s own judgement and assessment of the conclusions contained in the research report.
• The RA does not provide any assured, fixed, or guaranteed returns. All opinions, projections, estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of research report.
• Any investment decisions based on research reports are at the sole discretion and risk of the client.
• The RA and its affiliates shall not be liable for any direct, indirect, incidental, or consequential losses.
• The SEBI registration, RAASB enlistment, and NISM certification do not guarantee investment performance.
• Any assured/guaranteed/ fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the client by the RA.

6. Confidentiality & Data Protection

• The Client agrees to share necessary legal documents such as PAN, Aadhar and other documents, if any, required in accordance with the regulations applicable from time to time.
• The RA shall maintain strict confidentiality of client data.
• Research reports shall not be shared with unauthorized parties before public availability.
• If the Client agrees that if it refuses to share any legal information as required by the applicable regulations, the RA shall be entitled to terminate the contract without any refund.
• RA understands the risk associated with use of technology including artificial intelligence and algorithmic trading.
• Clients must keep their login credentials, trading account details, and OTPs confidential. The RA will never request such details.
• Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.
• In case of any technical glitch at the side of stock exchange or broker or client, including but not limited to internet connectivity, system connectivity, bugs, etc., the RA shall not be made responsible for any loss.

7. Conflicts of Interest

• The RA or its associates may have investments in recommended securities, which will be disclosed transparently.
• The RA ensures compliance with all SEBI-mandated conflict-of-interest disclosures.

8. Refund Policy

• If the client terminates the services before the service period ends, a refund will be processed for the unexpired period on a pro-rata basis.
• Refunds shall be made to the original payment mode within 15 business days.
• No refunds shall be provided for any services already rendered or No refund shall be provided due to loss or profit as we do not provide any assurance or guarantee for loss or profit in Stock Market.
• In case of premature termination of services, a pro-rata refund for the remaining period will be provided on written email to us.

9. Investor Charter & Grievance Redressal

• Clients agree to comply with the Investor Charter.
• Clients are encouraged to check the SEBI website for a list of registered Research Analysts: SEBI Website
• Any complaints should first be addressed to Bindul Shah at:
  Email: bindul.shah@yahoo.com
  Contact: +91 9033001944
• If unresolved within 30 days, clients may escalate complaints to SEBI’s SCORES platform: SEBI SCORES
• Alternatively, complaints can be lodged through Online Dispute Resolution (ODR) at https://smartodr.in

10. Governing Law & Jurisdiction
 

• This Agreement shall be governed by and construed in accordance with the laws in force in the jurisdiction of India. The RA and the Client agree to comply with the Securities and Exchange Board of India or Bombay Stock Exchange as applicable from time to time. Any disputes shall be subject to the exclusive jurisdiction of the courts of Ahmedabad, Gujarat.
• For reference purposes, the Most Important Terms and Conditions (MITC) are referred separately in accordance with the applicable SEBI regulations.  The MITC forms integral part of this agreement.

11. Amendments & Termination

• The RA reserves the right to modify these Terms and Conditions at any time with due notice.
• Either party may terminate the agreement with a 15-day notice period in writing.

12. Acceptance of terms and conditions

• By subscribing to the scheme, the subscriber expressly acknowledges and agrees to be bound by the terms and conditions set forth in this agreement. Such subscription shall constitute a valid and binding acceptance of all obligations, rights, and limitations stipulated herein, and no further execution or express consent shall be required to enforce the terms of this contract.

By availing of the research services, you acknowledge that you have read, understood, and agreed to these Terms and Conditions.

 

 

Most Important Terms and Conditions (MITC)

[Forming part of the Terms and Conditions for providing research services]

1. These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA) and RA cannot execute/carry out any trade (purchase/sell transaction) on behalf of, the client. Thus, the clients are advised not to permit RA to execute any trade on their behalf.

 

2. The fee charged by RA to the client will be subject to the maximum of amount prescribed by SEBI/ Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients).

 

Note:

1. 1. The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA.
   2. The fee limit does not include statutory charges.
   3. The fee limits do not apply to a non-individual client / accredited investor.

 

3. RA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI; presently it is one year. In case of pre-mature termination of the RA services by either the client or the RA, the client shall be entitled to seek refund of proportionate fees only for unexpired period.
4. Fees to RA may be paid by the client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally the client can make payments through Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (i.e. currently recognized RAASB).
5. The RA is required to abide by the applicable regulations/ circulars/ directions specified by SEBI and RAASB from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.
6. Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the client by the RA.
7. The RA cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA’s research services. All opinions, projections, estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of research report.
8. Any investment made based on recommendations in research reports are subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report. Any reliance placed on the research report provided by the RA shall be as per the client’s own judgement and assessment of the conclusions contained in the research report.
9. The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
10. For any grievances,

 

Step 1: the client should first contact the RA using the details on its website or following contact details:

 

(RA to provide details as per ‘Grievance Redressal / Escalation Matrix’)

 

Step 2: If the resolution is unsatisfactory, the client can also lodge grievances through SEBI’s SCORES platform at www.scores.sebi.gov.in

 

Step 3: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal at https://smartodr.in

 

11. Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.
12. The RA shall never ask for the client’s login credentials and OTPs for the client’s Trading Account Demat Account and Bank Account. Never share such information with anyone including RA.

 

Algo Trading :

Algorithmic trading (often referred to as algo trading) is the use of computer algorithms (sets of instructions or rules) to automatically execute trades in financial markets. These algorithms analyze market data, identify opportunities as per given set of rules and strategy,  execute orders without human intervention. The main goal of algorithmic trading is to improve the efficiency, speed, and emotions free trading decisions.

Advantages of algorithmic trading include its speed, accuracy, efficiency, and emotion-free decision-making, allowing for reduced costs, better risk management, and continuous operation. However, its disadvantages involve technical risks, market disruptions.

Risk of profit and loss due to any circumstances will remain to Algo trader only and Algo provider, broker, exchange, or any intermediaries are not at all held liable for your profit loss.

Advantages of Algorithmic Trading:

1. Speed and Efficiency:
   • Algorithms can execute trades in milliseconds, much faster than human traders. This speed allows them to capitalize on small price movements and opportunities that might be missed otherwise.
2. Reduced Transaction Costs:
   • By executing trades quickly and efficiently, algorithms can reduce transaction costs such as slippage (the difference between the expected price of a trade and the actual price at which the trade is executed).
3. Disciplined trading:
   • Algorithms can follow precise rules and strategies without errors or deviation. Once an algorithm is set up, it will consistently execute trades according to the pre-programmed strategy, reducing human errors.
4. Emotion-Free Trading:
   • Algorithmic trading eliminates emotional biases (fear, greed, overconfidence) that can affect human decision-making. This results in more rational, disciplined trading based on data and pre-set strategies.

Disadvantages of Algorithmic Trading:

1. Technical Failures:
   • Algorithms depend on technology and infrastructure, which can fail. A bug in the code, connectivity issues, or hardware failures could lead to significant losses or missed opportunities.
2. Over-Optimization (Curve Fitting):
   • Algorithms might perform well on historical data (backtesting), but this does not guarantee future success. Over-optimization can lead to strategies that are too tailored to past data and may not work under changing market conditions.
3. Market Impact:
   • Algorithmic trading can sometimes lead to excessive volatility, especially if many algorithms respond to the same market event in the same way. This can create "flash crashes" or sudden market movements that can harm other traders or destabilize markets.
4. Lack of Flexibility:
   • Algorithms strictly follow the rules they are programmed with, meaning they cannot adapt to unexpected or unprecedented market conditions unless they are specifically designed to handle such situations.

       Risk of profit and loss due to any circumstances will remain to Algo trader only and Algo provider, broker, exchange, or any intermediaries are not at all held liable for your profit loss.

 

RISK DISCLOSURES ON DERIVATIVES 

1. 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
2. On an average, loss makers registered net trading loss close to Rs. 50,000.
3. Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
4. Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

Source:
1. SEBI study dated January 25, 2023 on Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22

https://www.sebi.gov.in/reports-and-statistics/research/jan-2023/study-analysis-of-profit-and-loss-of-individual-traders-dealing-in-equity-fando-segment_67525.html