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 stock market research service by Bindul N Shah (Proprietor: House Of Wealth) and is registered with SEBI as a 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.

Current Business Activities and Business Plan :

Bindul Nitinkumar Shah ( Proprietor: House of Wealth) 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 make clients understand that trading is a business and make them understand the rules of trading and 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 portfolio, 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 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 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 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 from 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 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 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 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 the prior written consent.

Bindul N Shah does not offer any advisory, 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 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 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 shares and securities, including but not limited to stock delivery, derivatives, indexes, mutual funds, debt, liquid securities, or any other securities governed by 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 the Stock Planner website or application or WhatsApp.We will provide our research services through WhatsApp only for persons with disability.

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. 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. No refund shall be provided due to loss or profit, as we do not provide any assurance or guarantee for loss or profit in the 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

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 15 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 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 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. 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, 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 

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

  1. To publish research reports based on the research activities of the RA.
  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.

C) Details of Services Provided to Investors (No Indicative Timelines)

  • Onboarding of Clients
  • Disclosure to Clients.
  • To distribute research reports and recommendations to clients without discrimination.
  • To maintain confidentiality regarding the publication of the research report until made available in the public domain.

D) Details of Grievance Redressal Mechanism

In case of any grievance/complaint, an investor should approach the concerned research analyst and shall ensure that the grievance is resolved within 30 days.

If the investor’s complaint is not redressed satisfactorily, one may lodge a complaint with SEBI on SEBI’s SCORES portal, which is a centralized web-based complaints redressal system. SEBI takes up the complaints registered via SCORES with the concerned intermediary for timely redressal. SCORES facilitates tracking the status of the complaint.

For 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) Expectations from the Investors

Do’s

  • Always deal with a SEBI-registered Research Analyst.
  • Check for the SEBI registration number.
  • Ensure that the Research Analyst has a valid registration certificate.
  • Please refer to the list of all SEBI-registered Research Analysts available on the SEBI website. <<website link- https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14>>     
  • Always pay attention to disclosures made in the research reports before investing.
  • Pay your Research Analyst through banking channels only and maintain duly signed receipts.
  • Before buying securities or applying in public offers, check for the research recommendation provided by your Research Analyst.
  • Ask all relevant questions and clear your doubts with your Research Analyst before acting on the recommendation.
  • Inform SEBI about a Research Analyst offering assured or guaranteed returns.

Don’ts

  • Do not provide funds for investment to the Research Analyst.
  • Don’t fall prey to luring advertisements or market rumours.
  • Do not get attracted to limited period discounts or other incentives, gifts, etc. offered by the Research Analyst.
  • Do not share login credentials and password of your trading and demat accounts with the Research Analyst.

Complaint Redressal and SCORES Process

  • Client’s queries/complaints may arise due to lack of understanding or a deficiency of service experienced by clients. Deficiency of service may include lack of explanation, clarifications, or understanding, which escalates into shortfalls in the expected delivery standards.
  • Clients can seek clarification to their query and are further entitled to make a complaint in writing, orally, or telephonically. An investor may email at bindul.shah@yahoo.com or call on 9033001944 
  • A letter may also be written with their query/complaint and posted to:

Bindul N Shah
16/A, Chintamani Soc, Ram-nagar, Sabarmati, Ahmedabad-380005

  • In case you are not satisfied with our response, you can lodge your grievance with SEBI at https://scores.sebi.gov.in/, or you may also write to any of the offices of SEBI. SCORES may be accessed through the SCORES mobile application as well, which can be downloaded from here.
  • Filing of complaints on SCORES – Easy & quick

a. Register on the SCORES portal

b. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, Email ID

c. Benefits

1. Effective communication

2. Speedy redressal of grievances on SCORES

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 a given set of rules and strategy, and execute orders without human intervention. The main goal of algorithmic trading is to improve the efficiency, speed, and emotion-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 and market disruptions.

 

Risk of profit and loss due to any circumstances will remain with the Algo trader only, and the Algo provider, broker, exchange, or any intermediaries are not at all held liable for your profit or 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 with the Algo trader only, and the 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 the equity Futures and Options Segment incurred net losses.
  2. On an 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)