Disclaimer Terms & Condition

Disclosures

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

Stock Planner is a research service by Bindul N Shah. Bindul N Shah is registered with SEBI as a Research Analyst with INH000003663 as the SEBI registration number. Bindul N Shah is the Proprietor of House of Wealth. 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.

Current Business Activities and Business Plan :

Bindul Nitinkumar Shah is a SEBI-registered Research Analyst dedicated to providing insightful, research-based trading and short-term investments to clients. My focus is on delivering Disciplined recommendations.

With a strong academic background and many years of experience in the Indian Financial market, I aim to help clients make informed investment and trading decisions while understanding the Risks associated with this business and their own risk-taking capacity, so we can manage risk better on every trade. My goal is to help clients understand that trading is a business and to understand the rules of trading and the calculations of a long-term, disciplined trading journey while trading in the market, to create financial awareness of systematic trading. The approach combines Market fundamental study of financial economics along with a thorough study of technical charts to identify high–potential trading opportunities.

Currently, I am using my proprietary Technical Setup.

  1. Options trading. Weekly and Monthly Options trades in the Options segment.
  2. Swing trading (short-term investments) in the Equity cash segment.

In the future, we will explore more avenues like Algo trading and model portfolios, etc....

Our core philosophy is to gain long-term relationships based on trust, clarity, and right guidance, while strictly adhering to regulatory and ethical standards set by SEBI.  There is no disciplinary history in my name, and there are no pending orders or outstanding litigations.

  • Disclosure with regard to ownership and material conflicts of interest: 

    1. The Research Analyst or his relatives or associates do not have financial interest in the subject Company;

    2. The Research Analyst or his relatives or associates do not have actual/beneficial ownership of one per cent or more securities of the subject Company, at the end of the month immediately preceding the date of publication of the research report;

    3. The Research Analyst or his relatives or associates do not have any other material conflict of interest at the time of publication of the research report.

    Disclosure with regard to receipt of Compensation :

    1. The Research Analyst or his associates have not received compensation from the subject Company in the past twelve months.

    2. The Research Analyst or his associates have not managed or co-managed public offering of securities for the subject Company in the past twelve months.

    3. The Research Analyst or his associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject Company in the past twelve months

  • 4. The Research Analyst or his associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject Company in the past twelve months.

    5. The Research Analyst or his associates have not received any compensation or other benefits from the subject Company or third party in connection with the research report.

    Disclosure with regard to receipt of Compensation (For the purpose of Public appearance) :

    1. Whether it or its associates have received any compensation from the subject company in the past twelve months - No

    2. Whether the subject company is or was a client during the twelve months preceding the date of distribution of the research report and the types of services provided - No

    General Disclosure :

    1. The Research Analyst has not served as an officer, director or employee of the subject Company.

    2. The Research Analyst has not been engaged in market-making activity for the subject Company

    Definitions of Terms Used :

    1. Buy – Buy means that the stock is recommended to be bought either at Market or at a price or within the price band mentioned in the recommendation. Stock to be bought at Market or Current Market price (CMP) must be bought immediately or near the recommended price. Stock with a limit price order or where buying price or price band is mentioned, such stock can be bought at the price or within the price band mentioned.

    2. Sell / Target – Sell or target price is the price at which stock must be sold. For Stocks which have reached their target price or are trading above the target price must be sold upon reaching the target price or price band mentioned.

    3. Hold – Hold means that a stock may be held and no exit is required. A hold recommendation is given if the stock has not achieved its mentioned target or hit the mentioned stop loss price. A hold recommendation can also be given in case the research analyst is of the opinion that even after reaching the target price, the stock may go beyond the target price due to a change in circumstances.

  • 4. Stop loss price – Stop loss is a price at which the stock must be exited or sold due to an adverse situation or market move contrary to the recommendation. When the stop loss price is reached, the stock can be exited immediately or near the close of the trading session at a price that is near the closing price. The second scenario is mentioned given the fact that sometimes the stop-loss price is reached due to intraday volatility of the market, but it recovers towards the end of the session, showing the strength of the stock & in such a case, the stock can be held. This mechanism helps the investor avoid a wrong exit/ pre mature exit from the stock. It must be noted, however, that if the stock is trading below the stop loss, then it must be exited.

  • Additional Disclosures

    Warning –

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

    Disclaimer –

    “Registration granted by SEBI, membership of a SEBI-recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.”

Information present in the material prepared by 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 for validating all the information used to make the investment decision. Investors should understand that his/her investment decision is based on personal investment needs and risk tolerance, and information present in the material prepared by us and on our website is one among many other things that should be considered while making an investment decision.

Investments in the 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 the 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 Analysts (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 a 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 reflects their personal views about the subject company or companies and its or their securities, and no part of their compensation was, is, or will be, directly or indirectly related to the 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 prior written consent.

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

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 N Shah, a SEBI-registered Research Analyst (Registration No. INH000003663), Proprietor of House of Wealth, 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 services comprise research reports, research recommendations, market analysis, and related research communications in respect of securities covered by the Research Analyst, subject to the applicable SEBI framework. Services include:

  • Publishing research reports.
  • Providing trading ideas in stocks and index options subject to market conditions and availability of suitable research setups.
  • Providing unbiased investment opinions.
  • Offering sector-based, thematic, and fundamental research along with technical setups used for entry and exit decisions, subject to market conditions and availability of suitable research setups.
  • Ensuring compliance with SEBI and Research Analyst Administration and Supervisory Body (RAASB) guidelines.

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

3. Mode of services

The RA shall provide services through the Stock Planner website or application or WhatsApp.Clients who are persons with disabilities may get research services through WhatsApp.

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 the website/application, the Client agrees to the terms of the contract.
  • The fees shall be as per the prescribed SEBI/RAASB guidelines.
  • The maximum fee chargeable per client family is ₹1,51,000 per annum + GST (₹1,78,180). Family shall comprise 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. We do not accept fees in cash or cash deposits in a bank.
  • 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 on the research report provided by the RA shall be at 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, and estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of the 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, Aadhaar, 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 the 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 on the side of the 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. Cancellation and refund policy

  1. Fees paid for Research Analyst services are consideration for research, analysis, reports, and related services, and are not linked to investment performance or returns.

  2. StockPlanner does not guarantee or assure any profit, return, accuracy, target achievement, or recovery of losses.

  3. Market losses, stop-loss execution, missed profits, market volatility, or dissatisfaction with research performance shall not, by themselves, constitute a performance-based refund claim.

  4. Client may request premature termination of the Research Analyst service through the official communication channel.

  5. Where applicable under SEBI regulations, the client shall be entitled to seek a proportionate refund of fees attributable to the unexpired service period.

  6. The proportionate refund shall be calculated with reference to the applicable service fee and remaining unexpired period, subject to applicable regulatory requirements.

  7. No breakage, cancellation, separation or similar fee shall be charged where prohibited under applicable SEBI regulations.

  8. Refund requests shall be subject to verification of the client's subscription and payment records.

  9. Any refund shall be processed through legally permitted payment channels and, ordinarily, through the original payment mode.

  10. Tax/GST treatment of any refund shall be governed by applicable tax laws and regulations.

  11. Refund entitlement shall not be restricted merely because research material, reports or communication facilities were previously accessed, where a regulatory refund is otherwise applicable.

  12. This policy does not waive, restrict or override any mandatory right available to the client under SEBI regulations or applicable law.

  13. Any matter concerning service delivery or refund may be raised through StockPlanner's official grievance mechanism.

  14. Clients may also avail themselves of applicable SEBI grievance redressal mechanisms.

  15. In case of any inconsistency between this policy and applicable SEBI regulations, the prevailing regulatory requirement shall prevail.

9. Investor Charter & Grievance Redressal

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 to separately in accordance with the applicable SEBI regulations. The MITC forms an 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 21 days' written notice.

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 outlined 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 amount prescribed by SEBI/ Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients).

    Note:

    1. The current fee limit is Rs 1,51,000/- per annum + GST per client family 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 premature 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 the unexpired period.
  4. The client may pay fees to RA 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, and estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of the research report.
  8. Any investment made based on recommendations in research reports is 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:
    1. Step 1: The client should first contact the RA using the details on its website link: https://stockplanner.in/page/grievance-redressal-escalation-matrix or the Grievance Redressal and Escalation Matrix.
    2. Step 2: If the resolution is unsatisfactory, the client can lodge grievances through SEBI's SCORES platform at SEBI SCORES.
    3. Step 3: The client may also consider Online Dispute Resolution (ODR) through the Smart ODR portal.
  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 the RA.

INVESTOR CHARTER

IN RESPECT OF RESEARCH ANALYST (RA)

BINDUL N SHAH
SEBI Registered Research Analyst
SEBI Registration No.: INH000003663
BSE Enlistment No.: 5213

Proprietor: House Of Wealth
Type of Registration: Individual / Proprietor
Registered Office: 16/ A, Chintamani soc, Ram Nagar, Sabarmati, Ahmedabad- 380005.
Email: bindul.shah@yahoo.com
Contact No.: 9033001944

Applicable SEBI Reference:
SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/81 dated June 02, 2025
Read with the SEBI Master Circular for Research Analysts dated February 06, 2026.

A. VISION AND MISSION STATEMENTS FOR INVESTORS

Vision

Invest with knowledge & safety.

Mission

Every investor should be able to invest in the right investment products based on their needs, manage and monitor them to meet their goals, access reports, and enjoy financial wellness.

B. DETAILS OF BUSINESS TRANSACTED BY THE RESEARCH ANALYST WITH RESPECT TO THE INVESTORS

The Research Analyst provides research services in accordance with the applicable provisions of the SEBI (Research Analysts) Regulations, 2014, as amended from time to time.

The business activities include:

  1. To publish research reports based on the research activities of the Research Analyst.

  2. To provide an independent, unbiased view on securities.

  3. To offer unbiased recommendations, disclosing the financial interests in recommended securities.

  4. To provide research recommendations based on analysis of publicly available information and known observations.

  5. To conduct an audit annually.

  6. To ensure that all advertisements are in adherence to the provisions of the Advertisement Code for Research Analysts.

C. DETAILS OF SERVICES PROVIDED TO INVESTORS

1. Onboarding of Clients

  • Sharing of terms and conditions of research services.

  • Completing KYC of fee-paying clients.

2. Disclosure to Clients

The Research Analyst shall:

  • Disclose information that is material for the client to make an informed decision, including details of its business activity, disciplinary history, the terms and conditions of research services, details of associates, risks and conflicts of interest, if any.

  • Disclose the extent of use of Artificial Intelligence tools in providing research services.

  • While distributing a third-party research report, disclose any material conflict of interest of such third-party research provider or provide a web address that directs the recipient to the relevant disclosures.

  • Disclose any conflict of interest of the activities of providing research services with other activities of the Research Analyst.

  • Distribute research reports and recommendations to clients without discrimination.

  • Maintain confidentiality with respect to publication of the research report until it is made available in the public domain.

  • Respect the data privacy rights of clients and take measures to prevent unauthorized use of their confidential information.

  • Disclose the timelines for the services provided by the Research Analyst to clients and ensure adherence to such timelines.

  • Provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services.

  • Treat all clients with honesty and integrity.

  • Ensure confidentiality of information shared by clients unless such information is required to be provided in furtherance of discharging legal obligations or the client has provided specific consent to share such information.

D. DETAILS OF GRIEVANCE REDRESSAL MECHANISM AND HOW TO ACCESS IT

1. An investor can lodge a complaint/grievance against the Research Analyst in the following ways:

A. Mode of filing the complaint with the Research Analyst

In case of any grievance/complaint, an investor may approach the concerned Research Analyst, who shall strive to redress the grievance immediately, but not later than 21 days of receipt of the grievance.

Grievance / Complaint Contact Details:

Name: BINDUL N SHAH
Email: bindul.shah@yahoo.com
Phone: 9033001944
Address: 16/ A, Chintamani soc, Ram Nagar, Sabarmati, Ahmedabad- 380005.

B. Mode of filing the complaint on SCORES or with the Research Analyst Administration and Supervisory Body (RAASB)

SCORES 2.0

SCORES 2.0 is a web-based centralized grievance redressal system of SEBI for facilitating effective grievance redressal in a time-bound manner.

SCORES:
SEBI SCORES 2.0

Two-Level Review for Complaint/Grievance against Research Analyst

First Review: Designated body / RAASB

Second Review: SEBI

Investors may also submit complaints through the designated email ID of the Research Analyst Administration and Supervisory Body (RAASB).

2. SMART ODR Platform

If the Investor is not satisfied with the resolution provided by the Market Participant, the Investor has the option to file the complaint/grievance on the SMARTODR platform for resolution through online conciliation or arbitration.

SMARTODR:
SMARTODR Platform

3. Physical Complaints

With regard to physical complaints, investors may send their complaints to:

Office of Investor Assistance and Education : 
Securities and Exchange Board of India
SEBI Bhavan, Plot No. C4-A, 'G' Block,
Bandra-Kurla Complex, Bandra (E),
Mumbai – 400 051.

E. RIGHTS OF INVESTORS

Investors have the following rights:

  1. Right to Privacy and Confidentiality

  2. Right to Fair and Equitable Treatment

  3. Right to Adequate Information

  4. Right to Initial and Continuing Disclosure, including the right to receive information about all statutory and regulatory disclosures.

  5. Right to Fair & True Advertisement

  6. Right to Awareness about Service Parameters and Turnaround Times

  7. Right to be informed of the timelines for each service

  8. Right to be Heard and Satisfactory Grievance Redressal

  9. Right to Timely Redressal

  10. Right to Exit from Financial Product or Service in accordance with the terms and conditions agreed with the Research Analyst.

  11. Right to receive clear guidance and caution notice when dealing in complex and high-risk financial products and services.

  12. Additional Rights to Vulnerable Consumers, including the right to get access to services in a suitable manner even if differently abled.

  13. Right to provide feedback on the financial products and services used.

F. EXPECTATIONS FROM THE INVESTORS

(RESPONSIBILITIES OF INVESTORS)

DO'S

  1. Always deal with a SEBI-registered Research Analyst.

  2. Ensure that the Research Analyst has a valid registration certificate.

  3. Check for the SEBI registration number.

  4. Refer to the list of all SEBI-registered Research Analysts available on the SEBI website.

  5. Always pay attention to disclosures made in the research reports before investing.

  6. Pay your Research Analyst through banking channels only and maintain duly signed receipts mentioning the details of your payments. You may make payment of fees through the Centralised Fee Collection Mechanism (CeFCoM) of RAASB if the Research Analyst has opted for the mechanism. (Applicable for fee-paying clients only.)

  7. Before buying/selling securities or applying in a public offer, check for the research recommendation provided by your Research Analyst.

  8. Ask all relevant questions and clear your doubts with your Research Analyst before acting on the recommendation.

  9. Seek clarifications and guidance on research recommendations from your Research Analyst, especially where the recommendation involves complex and high-risk financial products and services.

  10. Always be aware that you have the right to stop availing the services of a Research Analyst as per the terms of service agreed between you and your Research Analyst.

  11. Always be aware that you have the right to provide feedback to your Research Analyst in respect of the services received.

  12. Always be aware that you will not be bound by any clause prescribed by the Research Analyst which is contrary to any regulatory provisions.

  13. Inform SEBI about any Research Analyst offering assured or guaranteed returns.

DON'TS

  1. Do not provide funds for investment to the Research Analyst.

  2. Do not fall prey to luring advertisements or market rumours.

  3. Do not get attracted to limited-period discounts or other incentives, gifts, etc. offered by the Research Analyst.

  4. Do not share login credentials or passwords of your trading, demat or bank accounts with the Research Analyst.

IMPORTANT INVESTOR NOTICE

Registration granted by SEBI, enlistment with RAASB and certification from NISM in no way guarantee performance of the Research Analyst or provide any assurance of returns to investors.

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Take your investment or trading decisions as per your own risk appetite.

Research services provided by the Research Analyst are based on research and analysis and should not be construed as a guarantee or assurance of returns.

The Research Analyst does not execute or carry out trades on behalf of clients. Investors should independently make their investment decisions after considering their own financial circumstances, risk appetite and objectives.

Risk Disclosure on derivatives

  1. 9 out of 10 individual traders in the equity Futures and Options Segment incurred net losses.
  2. On average, loss makers registered net trading losses 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% and 50% of such profits as transaction costs.

Source: 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.

Read the SEBI study on profit and loss of individual F&O traders (January 2023)

 

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