Important Documents

1. Please review these disclaimers and disclosures carefully. These are to be read along with Terms and Conditions as well as general and individual contracts entered into with clients.
2. Nirav Desai is a SEBI registered Research Analyst (SEBI Registration Number INH000004440), duly qualified and having long practical experience. Recommendations are given on the basis of bonafide analysis and judgment using a judicious mix of technical and fundamental analysis and long experience of having followed and analysed markets and scrips over a considerable period. Software, experience and skills are used in arriving at decisions.
3. Recommendations given herein are not personalised to individual clients or group of clients. Each client shall carefully assess their goals and objectives in context of their stage in life and capacity to take investment and/or trading decisions and their capacity and inclination to take risks and handle uncertainty in the stock market, preferably with the help of a duly registered investment adviser.
4. Stock markets generally and options/futures markets in particular are prone to higher than normal earnings or losses or even stagnation for long periods of time. Markets are known to be subject to sharp volatility which often cannot necessarily be explained with rational analysis. That apart, unexpected developments in the local, national or international markets, including political and other developments, may significantly affect the markets. The investor is well advised to self-assess his capacity to take risks balancing with expected rewards and placing them in context with the state of life and financial status they belong to. Under no circumstances whatsoever shall we be responsible for any loss suffered by any person.
5. Recommendations have a short shelf life and are generally expected to be valid at the time they are made. In particular, recommendations on options/futures have even shorter validity and market changes may affect the recommendations further. Unless reaffirmed by a fresh recommendation, the recommendation should not be considered valid beyond the time when it has been made, irrespective of whether the price or markets have moved in a particular direction or not.
6. Individual shares, bonds, futures, options, etc. may have differing volumes and depths and this may affect their movements and spreads. Further, large amount of orders may also affect, at least in the short term, the movement of prices which may be divorced from their fundamentals. Investors and traders shall have, and apply, at least basic knowledge and skills to track fundamental parameters.
7. Clients should carefully and diligently undergo the training offered by us before beginning trades. It is also strongly advised that, for a sufficient period of time, they may carry out shadow trading/investments to help develop application skills. In any case, initially, they may invest amounts that are small relative to their risk taking capacity.
8. Many categories of shares and bonds and in particular all options and futures require close monitoring and hence clients may need to devote sufficient time and focus in monitoring the movements in markets.
9. While recommendations in equity shares, bonds, etc. which are made for long term may have coverage of a broader spectrum of relevant factors, recommendations in futures and options may be made more on basis of narrower technical analysis based on short term factors.
10. Clients shall take into account income-tax, stamp duty, security transaction tax and other levies and factors in respect of their trading and investment decisions by taking advice from a competent tax/legal advisor. Tax and other implications may vary from person to person.
11. These disclaimers and disclosures are subject to periodic revisions with or without notice and clients are requested to regularly review them, particularly if an indication is given of their having been updated. Changes are deemed to have been read by the clients the moment they are made/published herein.
12. Subject to the SEBI (Research Analysts) Regulations, 2014 (as amended form time to time) and other applicable law, the Research Analysts may engage in such activity of consultancy, trading, or otherwise as they may deem appropriate.
13. We do not carry out any analysis of individual circumstances of specific clients. Background information taken of clients (prospective or actual) may be for data analysis and related purposes only and no conclusion is possible to be drawn that recommendations are tailored generally for any category of clients or to any individual client. By sharing their data, rights are given to us to make such further analysis or share with such third parties as may be deemed fit for rendering better and a variety of services to clients or otherwise. Third party advisors/service or product providers may contact clients for providing their products or services. We do not in any manner confirm their suitability to any group of clients or to individual clients or otherwise endorse any such parties. Clients are advised to take their own decisions, taking such external advice as may be deemed appropriate in such circumstances.
14. While the recommendations made by us are generic and not specific to the circumstances of individual clients or group of clients, it is also made clear that the recommendations may be considered or used by no other person other than the client to whom they are provided.

Updated on 22^nd December 2022