23 oct 2019

Every successful person has to follow a
discipline. For being a successful trader
you are to be disciplined and by following
technical analysis one gets disciplined
and focus on identifying trading
opportunities in price trends and
patternswhichanalystsseeoncharts.
When one talks of technical analysis it
is not only equity market it can be
anything which may be as random as crop
of a particular commodity, so it is
basically understanding the patterns,
plotting them on charts and analysing /
forecasting the trend / probability of that
particularevent.
The major benefit of technical analysis
in equity market is price concentric. The
analyst has not to look at so many factors
which may be a little too extensive and
time consuming. Technical analysis is a
pictorial form of different historic price
actions on a chart and with different tools
it becomes easy to forecast trends by
understanding historical actions. It
sometimes becomes difficult to
understand sudden price actions, but it is
considered that charts even help in
forecasting some sudden price
actions by understanding the
modern theory of Technical
Analysis.
Sudden reactions can now
b e f o r e c a s t e d b y
understanding demand, supply
and price movements using
technology. The analysis helps in
identifying entry and exit points also it
helps in identifying support and
resistance levels for the traders to design
atradingstrategy.
Technical Analysis has three basic
assumptions;
1. Market Discounts Everything;
Technical analysts assumes that there are
so many participants in the market and all
of them have different perspective to see
atthemarketprice.
There are many who look at it as a
trading opportunity, many look at the
price as investment, other participants
like promoters, chartered, suppliers,
borrowers, lenders also participate in the
market. Every one of them have different
interest and vision of participating in the
market and looking at price of
the stock. In case any body
changeshisperspectiveonthat
particular stock he will
positively or negatively react to
the market price. All these
perspectives when combine
they form a price that is
available in the market. Thus it is an
assumption that market discounts
everything.
2. Price moves in a trend; for a trader
“Trend is the friend”. Technical analysis is
based on basic assumption that prices
moves in a trend and once a trend has
been identified the traders should trade
inthetrendasthemarketsaremorelikely
to follow a trend (same direction) and
thereislowprobabilityofpricessuddenly
start moving against the trend. Analysts
havethisbasicassumptioninmindbefore
designinganytradesetup.
3. History tends to repeat itself;
Analysts have been using charts and
patterns over decades and they have
found that prices follow trends and they
relatively change in the markets as per
their historical patterns. The repetitive
natureofpricesandtrendstobefollowed
are because of the market psychology.
The psychology is mix of emotions of
greed and fear. All the prices are drawn
on charts and pictorially it has been
observed that the patterns historically
repeatsthemselves.
There are lots of criticism as well of
Technical analysis and the highest
criticism is sought that it do not consider
any other factor except price. It is also
neither a science nor an art thus always
open for further interpretation, two
analysts looking at the same chart may
have two different views. The charts
some times reacts too late specifically in
the event. Charts follow prices and
analysis of entering or exiting the market
istoolateincaseofeventsthattoowhich
are specifically not planned. There are
so many studies that are available which
many times leads to confusion. And
above all there is not even a singletrading
setupwhichisperfect.
Contd...
ByNitinShahi
Demystifying Technical Analysis: Part II
Basic Assumptions of Technical Analysis
YEAR -1 | Vol 1 | Issue 8 | Ludhiana Wednesday 23 October, 2019

Wednesday 23 October, 2019
Probate Vs. Succession Certificates Vs. Legal Heir Certificate
Whatisthedifferencebetween“Probate”
or “Succession Certificate” or “Legal Heir
Certificate” At the time of death of an
individual the family is in real dilemma as
on hand they have to deal with the
emotional and personal loss and on the
otherhandtheyhavetodealwiththelaw.
In case the individual who has died had a
“Will”, then a Probate may be required
depending on the facts of the case. While,
for an individual who has died intestate
(without a Will), either a Succession
Certificate or a Legal Heir Certificate may
be required depending on the type of
assets the individual had – for property a
Succession Certificate is required, while if
the individual had only financial assets
then Legal Heir certificate may be
sufficient.
“Will” comes into effect only after the
death of the “Testator”. After the death
the Executor appointed in the Will has to
approach the competent court for
obtaining a Probate. In case the Probate is
not required then the “Executor” of the
“Will” take administrative steps to ensure
that the directives given in the “Will” are
followed and the beneficiaries receive the
assetsasperthe“Will”.
For Execution of the Will either a Probate
of the Will or Succession Certificate or
Legal Heir Certificate will be required
dependingonthe“FactsoftheCase”.
India has multiple Inheritance laws based
on religion of the person and this is
further complicated for inter faith
marriages or for people domiciled in
states like J&K, Goa, Daman & Diu and
Pondicherry Scenario 1: If the person dies
without leaving behind a valid “Will” then
he/she is said to have died intestate. In
that scenario if he has a property then a
Succession Certificate will be required,
while in case he has only financial assets
than a Legal Heir Certificate might be
sufficient.
Legal heir certificate is issued to the legal
Heirs of the person by the competent
courts of the place where the person is
domiciled. After obtaining the death
certificate from the municipality
authority/corporation, the successors
required to apply for legal heir certificate
to claim their right over the deceased
person’s properties and dues. There can
be instances, where there are several
legal heirs for an ancestral property and in
such cases, it is required that all legal heirs
sign on the deed of conveyance giving
theirapprovaltoavoidanylitigations.
It is mostly used by families of the serving
“Army or Paramilitary Persons”, while it
can be also issued to civilians in certain
circumstances or in certain states it is
compulsory
Succession Certificate: Succession
Certificate is the court order for
distribution of assets among the
beneficiaries of the deceased as per the
applicable Succession Act. In case the
Testator has property along with financial
assets or the Testator has died intestate
then in that case Succession Certificate is
issuedbythecompetentcourt.
Succession Certificate may be required,
especially for transfer of Title of the
Property from the name of the deceased
person’s name into the name of the
beneficiaries Succession Certificate gives
the privilege to the legal heir i.e. a right to
recover the debt or property. On the
other hand, Legal Heir Certificate can be
put to limited use only such as
transferring shares, investments, PF
claimsetc.
While applying for Succession Certificate
or the Legal Heir certificate, applicable
court fees shall be paid by the inheritors
and differs from one state to another. One
certificate out of these two certificates is
required, depending upon the
circumstancesandfactsofthecase.
Scenario 2: The person who had died, dies
leavingbehinda“Will”.
The estate of the deceased person will be
distributed as per the directions given in
the “Will”. However legal rights will still
have to be satisfied through the process
of Probate as “Will” may not be accepted
by the financial institutions or the
Registrar office for transfer of Title of the
assets from the deceased person’s name
into the name of the inheritors of the
assets. A “Will” needs a probate (a court
certificate confirming that the Will is
genuine) after the death of the Testator of
theWill.
Probate is the judicial process by which a
“Will” is proved to be valid in a competent
courtoflawandaftertheProbate“Will”is
accepted as a valid public document that
isthetruelasttestamentofthedeceased.
Indian Succession Laws expressly states
that a Probate is official proof of a Will. A
probate is issued to the executor, or the
person who is authorized to implement or
execute the Will and thereby adds a legal
character to the Will. Furthermore, a
Probate is crucial if the Will is for
immovableassetsinmultiplestates.
Probate for “Will” is required in following
circumstances:
I. if the person is either domiciled or has a
property in Mumbai, Chennai and Kolkata
highcourtJurisdiction
II. in case of NRI when they have to
approach the RBI for remittance of sale
proceedsoftheirinheritance
III. in case of dispute between the legal
heirs
IV. if any financial institution or sub-
registrarofficespeciallyasksforProbate
In all other circumstances the Probate is
notcompulsory.
by: Shammi Khanna & Shivam Gera
Brief Headlines:
• A f e w a n o n y m o u s
employees of global software
vendor Infosys have accused its
Chief Executive Officer (CEO) Salil
Parekh and Chief Financial
Officer (CFO) Nilanjan Roy of
unethical practices for many
quarters.
• "Parekh and Roy have been
resorting to unethical practices
for many quarters, as evident
from their e-mails and voice
r e c o r d i n g s o f t h e i r
conversations," said the
complainants, who called
themselves 'ethical employees'
in a 2-page letter to the city-
based IT behemoth's board of
directors on September 20, a
copy of which has been accessed
byIANS.
• When there was no
response from the board to their
l e t t e r , a n u n n a m e d
whistleblower on behalf of the
unethical employees on October
3 wrote to the US-based office of
the Whistleblower Protection
Programme, alleging willful mis-
statement material accounting
irregularities for (the) last two
quarters(April-September).
•Inresponse,thecompanyin
a statement on Monday said the
whistleblower complaint had
been placed before the audit
committee as per the company's
practices.
• "The complaint will be dealt
with in accordance with the
company's whistleblowers
policy," the IT major said in a
statementtoIANS.
• "In (the) last quarter (July-
September), we were asked not
to fully recognise costs like visa
costs to improve profits. We have
voice recordings of these
conversations," claimed the
letter.
• The employees also alleged
that in the quarter under review
o f f i s c a l 2 0 1 9 - 2 0 , t h e
management put immense
pressure on them to not
recognise reversals of $50 million
of upfront payment in FDR
contract, as it will slash profits for
the quarter and negatively affect
the company's stock price. The
letter said not recognising
reversals of upfront payment in
FDR contract was against fair
accountingpractice.
• "Critical information is
hidden from the auditors and
board. In large contracts like
Verizon, Intel and JVs (Joint
Ventures) in Japan, ABN Amro
acquisition, revenue recognition
mattersareforcedwhichisnotas
per the accounting standards,"
saidtheletter.
• The employees said they
have been instructed not to
share large deal information with
auditors.
• The plaintiffs are confident
of sharing the alleged emails and
v o i c e r e c o r d i n g s w i t h
investigatorswhendemanded.
• "The CEO is bypassing
reviews and approvals and
instructing sales (teams) not to
send mails for approvals. He
directs them to make wrong
assumptions to show margins,"
recalledtheunnamedInfoscions.
• Alleging that the CFO (Roy)
was hand in glove with the CEO
(Parekh), the insiders said the
former complied with unethical
practices, restraining ethical
employees from showing large
deal issues to the board during
presentations.
• "The CEO told us, no one in
the board understands these
things, they are happy as long as
the share price is up. Those two
Madrasis (Sundaram and
Prahlad) and Diva (Kiran
Mazumdar-Shaw) make silly
points, you just nod and ignore
them,"chargedthestatement.
Infosys techies accuse CEO,
CFO of unethical practices
Tata Steel: The Tata firm’s European subsidiary Tata Steel Europe has
decided to cut 2,500 jobs, or 25 per cent of its work force, in Europe to save
$930millionincosts
VodafoneIdea:Thetelcohasurgedthetelecomregulatortodeferscrapping
interconnect charges from the January 2020 deadline, saying there will
alwaysbeacostofterminatingacall,
SBI: The PSU lender has sought immediate government intervention to
salvage gas-based power plants with total capacity of 25,000 mw before
someRs1lakhcroreloansbecomenon-performingassets.
Muthoot Finance: The gold loan financier has raised $450 million by selling
foreign currency bonds to international investors across the globe in its
maidenissueofsuchaninstrument.
ZensarTechnologies:TheRPGGroupITfirmhasreportedaprofitaftertaxof
Rs 79.9 crore for the quarter ended September 30, 2019, down 16.1% year
onyear.
HDFCBankQ2netjumps26.8%toRs6,345crore;provisionsspike48%
AurobindoPharmagetsUSFDAnodforNaloxoneHydrochlorideinjection
Reliance Nippon: Pledge on 35 lakh promoter shares released on October
16
NTPCplanstoraiseRs711crorefrominternationalmarkets
Indiabulls Housing Finance: Issues offer to all debenture holders for pre-
matureredemptionofNCDsmaturinginNovemberandDecember2019
ITC eyes over 10% growth from
chocolates after launch at grocery stores
After coming up with a premium variant of
its chocolate, Fabelle, which is now
available across grocery stores as well as
modern trade, ITC is aiming to
considerably outpace the category growth
of more than 10 per cent in the next two-
threeyears.
“The chocolates category has been
growing faster than 10 per cent in recent
years and we expect to grow significantly
faster than the category over the next few
years,” said Anuj Rustagi, chief operating
officer of chocolates, coffee and new
categoriesatthefooddivisionofITC.
Thecompanydecidedtocomeupwiththis
premium variant of Fabelle to reach a
larger consumer base which in turn will
help it improve sales volume. These
premium chocolates, priced between Rs
70 and Rs 170, compete directly with Silk
from the Mondelez stable and this price
category has been growing faster than the
overall growth rate in the chocolates
industry.
Nitin Shahi, Editor, Printer, Publisher and Authorized Signatory has published FINDOC PRIME, Findoc Capital Mart Pvt. Ltd. at 5th Floor, Kartar Bhawan, Nr. PAU Gate No.1, Ferozepur Road, Ludhiana. Printed at Bhagotra Printers, 111 Sukhdev Market, Back Side Kailash Cinema, Nr. Petrol Pump, Civil Lines, Ludhiana
Lupin gains 2% as Nagpur unit receives EIR from USFDA
Bajaj Finance Q2 beats estimates, profit grows 63% with net
slippages falling sharply
ARSS Infrastructure gains nearly 5% on order win worth Rs 76 crore
Benelli Imperiale 400 Jawa and Royal Enfield rival, launched in
India at Rs 1.69 lakh
Granules India zooms 14% after Q2 profit of Rs 96 cr, USFDA nod
for allergy drug

RELIANCE INDUSTRIES LIMITED : Buy - CMP 1416.00 Target - 1600 Sl - 1280
About:
Reliance Industries Limited is engaged in refining,
including manufacturing of refined petroleum products,
and petrochemicals, including manufacturing of basic
chemicals, fertilizers and nitrogen compounds, plastic
and synthetic rubber in primary forms. The Company's
segments include Refining, Petrochemicals, Oil and Gas,
Organized Retail and Others. The Refining segment
includes production and marketing operations of the
petroleum products. The Petrochemicals segment
includes production and marketing operations of
petrochemical products, including polyethylene,
polypropylene, polyvinyl chloride, poly butadiene
rubber, butadiene,acrylonitrile, caustic soda and
polyethylene terephthalate. The Oil and Gas segment
includes exploration, development and production of
crude oil and natural gas. TheOrganized Retail segment
includes organized retail business in India. The Others
segment includes textile, Special Economic Zone (SEZ)
development, telecom or broadband business and
media.
Key Triggers : The growth of jio and retail is quite
impressive and will be next triggers of the growth for the
company. In Q2, Jio has added 23.9 million subscribers
andlookingtoaddanother100millionsubscribersinthe
coming years. On the retail front, the company has
added 337 stores in second quarter of the year .One
more positive for the company is contribution of
consumer business in overall EBITDA has risen from 23%
to 33% in Q2 on yoy basis. With News of Saudi Aramco
interested in buying the stake in Reliance, the company
has more than enough triggers for the future growth.
Moreover company has reduced its debt from 52.5
billiondollars to36.1billiondollars.
Performance: The company has reported a standalone
profit of Standalone net profit at ₹ 9,702 crore in the
Q2FY20, up 9.5 % YoY basis. Retail business has crossed
turnover of 40000 crore mark and jio has posted EBITDA
of 5000 crore for the very first time. Reliance is near all
time high and a further upside can be seen with value
unlockingofRetailandRelJio
(In Millions)
HISTORICAL (ACTUALS)
FY Mar-19 FY Mar-20 FY Mar-21
REVENUE 5671350.00 5875509.31 6457264.52
GROSS PROFIT MARGIN 50.11% 35.49% 37.70%
OPERATING EXPENSE 5026690.00 2930232.84 2523318.12
EBIT 629840.00 726384.39 904555.13
EPS 66.80 76.37 95.69
CURRENT P/E 21.39
INDUSTRY P/E 14.89
AVERAGE P/E 5Yrs 13.59
FORECAST (SMART ESTIMATE)
About:HDFC Bank Limited (the Bank) is a holding
company. The Bank offers a range of banking services
covering commercial and investment banking on the
wholesale side and transactional/branch banking on the
retail side. It also offers financial services. The Bank's
segments include Treasury, Retail banking, Wholesale
banking and Other banking business. The Treasury
segment primarily consists of net interest earnings from
the Bank's investment portfolio, money market
borrowing and lending, gains or losses on investment
operationsandonaccountoftradinginforeignexchange
and derivative contracts. The Retail Banking segment
serves retail customers through a branch network and
other delivery channels, as well as through alternative
delivery channels. The Bank provides its corporate and
institutional clients a range of commercial and
transactional banking products. The Other banking
business segment includes income from para banking
activities.
Key Triggers:With the lack lustre performance of PSU's
and NBFC due to liquidation issues, company is able
increase its market share and grow at a speed of more
than 20% both in case of NII and profitabilty. Asset
quality remains stable and expected to be stable in
future given the diversified credit book. Moreover COF
remains relatively low and provides further edge to the
bank . With advancement in technology and
digitalization, we can expect expenses to reduce in
futureandNIMtoexpand.
Performance: Company is well poised for credit growth
of more than 20% and will be able to maintain NIM OF
4.2% in the next few years. With Bank benefitting from
the much awaited reduction in corporate taxes the
profits are expected to surge high on yoy basis giving
extra room even for rich valuations. You can expect stock
todeliverreturnsof15-20%fromthecurrentprice.
HDFC Bank Limited : Buy- Cmp. 1229.00 Target - 1475.00 Sl - 1150.00
(In Millions)
PARTICULARS FY Mar-19 FY Mar-20 FY Mar-21
REVENUE 658690.90 780352.65 913575.36
NET INCOME 210781.40 265707.28 329934.45
EPS 38.95 48.48 59.92
CURRENT P/E 27.43
INDUSTRY P/E 21.43
About : Reliance Nippon Life Asset Management
Limited, formerly Reliance Capital Asset Management
Limited, is an asset management company. The
Company is the asset manager of Reliance Mutual Fund.
The Company has its business in asset management, life
insurance, general insurance, private equity, stock
broking and other activities in the financial services
sector. The Company provides with portfolio
management services to high net worth individuals and
institutional investors including the Employees
Provident Fund Organisation and Coal Mines Provident
Fund Organisation. The Company's Subsidiaries are
Reliance AIF Management Company Limited manages
two alternative investment funds, which are privately
pooled investment vehicles. The Company offers a wide
range of financial products, including individual and
grouplifeandannuitypolicies.
Key Triggers : Reliance Nippon Life Asset Management is
one of the largest asset manager in India with total
assets under management of Rs. 4.31 trillion. The
distributor empanelment increases to 68500 in june
2018 to 73400 in June 2019 .RNAM is the 2nd largest ETF
player with a market share of over 19% in the ETF
segment. It has an AUM of Rs. 270 billion. Digital
contribute 41% of total RNAM new purchase
transactions. There was a huge rise in digital
transactions and digital purchases including SIP doubled
from last year to 3.91 lakh transactions. With Reliance
exiting the company the the investor confidence will
boostupandwillactasagrowthtriggerforthecompany.
Performance:Ason June30,2019,RNAM'sassetsunder
management stood at Rs 4,30,661crore, an increase of 6
per cent from the year-ago. The company's mutual fund
assets under management stood at Rs 2,22,576crore.Its
equity assets, including ETF were at Rs 1,15,746 crore, a
growth of 19 per cent.In Q1, Compnay's Net profit rose
by13%toRs125.40onyoybasis.
Reliance Nippon Life Asset Management Limited : Buy Cmp. - 288.60 Target - 410 Sl - 230
(In Millions)
PARTICULARS FY Mar-19 FY Mar-20 FY Mar-21
REVENUE 14786.40 15799.71 17489.54
EBIT 5289.60 6704.24 7550.37
NET INCOME 4860.90 5494.00 6373.21
EPS 7.94 8.98 10.41
CURRENT P/E 36.13 - -
INDUSTRY P/E 22.21
This is Diwali time and we all know that
Diwali is celebrated as on this day Lord
Ram reached back to Ayodhya after 14
years of exile and also after defeating
Ravan who forcefully seized Mata Sita
andheldherhostage.
The whole epic teaches discipline, self
control and conduct of life. Ramayana
describes the qualities of leader who is
Ram and the most important quality of
successful leader is self control and
discipline.Becauseofthesetwoqualities
he is not only known but also is prayed as
“Maryada Purshotam”. Ram lived whole
of his life for the benefit of his country
and was an example of sacrifice for the
peace and progress of his state. It is not
easy to exert self control when you are in
command and it is not easy to sacrifice
yourpleasureforthesakeofyourstate.It
isactuallyeasiersaidthandone.
Ram is shown as so disciplined and a
leaderwithselfcontrolthatoneneedsto
learn a lot of his qualities. Ram is not a
leader by choice, he is leader by
example. As per Ramayana, his father
Dashrath who was a king decided that
Ram will take over the kingdom and
would lead the empire and Dashrath as
he was getting old would rather support
him. But due to one of his promise to his
second wife he had to ask Ram to go to
exile for fourteen years and give the rule
to his step brother Bharat. In these
fourteen years Ram would not have
access to neither the army nor the
wealthofhisempire.Hewasaskedforan
exile of fourteen years intentionally
because in Treta Yug if the emperor
renounces his throne for 14 years he
wouldlosehisrighttoclaimhiskingdom.
Ram did not give a second thought and
accepted his seclusion with resignation,
what his father expected of him. This is
indeed the epitome of self control
,commitment and fealty that Ram
portrays. Ram undergone all the years in
woods just to honour the words of his
fatherandforpeaceandprosperityofhis
state. He did not show any agitation and
left the state with his wife and his
BrotherLakshman.
Ram though had a choice that he could
have agitated and taken a stand as it was
not his decision but for the prosperity of
the state and for harmony of the family
he opted for a decision which was tough
for him and his family but was peaceful
andprosperousforthestate.
He opted for self control and did not
raise his voice against the decision, he
being a leader showed the sort of self
control and sacrifice which is another
characteristicofagreatleader.
The character of Ram shows the
requisitecharacterofasuccessfulleader.
Heshouldhaveself
control, he should be disciplined and a
person of words. A person who would
sacrifice himself for the benefit of his
team, his state or for his organisation. A
person who would let go his wishes and
desires for the harmony of his team and
prosperity of his state is above. When
you go through today’s history of most
successful leader you would find same
qualities in their lives. May it be
Mahatma Gandhi, Nelson Mandela. In
one of the articles on Warren Buffet it
was mentioned that he still stays in the
househeboughtin1958.
Most successful leaders are leaders of
exampleandbearstheabovequalities.
By Nitin Shahi
THE WISDOM TOOTH
For those who have conquered the mind, it is their friend. For those who have failed to do so, the mind works like an enemy.
DIWALI TOP PICKS

Algorithmic Trading or Algo Trading, a technology comrade
while trading in stock market, is growing rapidly and getting more
attentionbyprofessionaltradersinIndia.
In simple terminology, Algo is a block of code written to trade
automatically based on some pre- defined rules or logic. Algo
Trading is done through automated trading platform, which
enablesautoexecutionoftrades.
With increasing volatility and changing market dynamics, Algo
Trading has become preferred choice of professional traders and
institutions, to avail technological edge of speed and accuracy. Algo platform ensures
a systematic approach for trading as it helps in reducing emotional aspect of human
behaviorandprovidesadisciplinedtradingapproach.
AlgoTradingwasfirstintroducedinmid1980sandquicklygainedattentionglobally.
Itcurrentlyconstitutesaround75percentoftradingvolumeinglobalmarkets.
In developed markets, like US, more than 70 percent of total exchange volume
comes through Algo Trading. One of the major reasons for such high volume share is
the existence of Algo Trading in these markets since decades. These markets are well
structuredand highlyadvancedintechnology.
As per industry reports, Algo Trading for global markets is likely to grow from $11.1
billion in 2019 to $18.8 billion by 2024. Going by these projected figures, the
compoundannualgrowthrate(CAGR)willexpandbyapproximately11.1percent.
In India, Algo Trading was introduced in 2008 through Direct Market Access (DMA).
Since then volume through Algo Trading has grown rapidly in various exchanges and
assetclassesinIndia.
It’s just been a decade for Algo Trading in India, and as per exchange figures, which
are available latest for 2016, we have crossed half way in comparison to US and
European markets. The growth of Algo Trading in India so far has been very
encouraging for traders who consider trading as profession and follow systematic
approach for trading. Ease of access to Algo Platforms, availability of skilled resources,
customizedandfasttrackdevelopmentsaresomeofthefactorsthataregoingtodrive
thegrowthofAlgoTechnologyinIndia.
The process to adopt Algo Trading starts with finding a logical or rule based strategy
for trading. Nowadays, due to technological advancement, there are tools to test the
profitability of such logics or strategy on historical data for over a period of time. This
helpsin confidence building over the strategy. Algo platform help in smooth execution
of well developed strategy without any human intervention that too even at large
scale.
SEBI has been quite prudent with the regulations in this domain. SEBI has issued
guidelines and framework about Algo Trading, to make it more acceptable and
inconspicuous.
There are also reports that SEBI might come up with guidelines for use of Algo
Tradingbyretailtraders,whichshallhelpfurtherunderstandingandacceptanceofthe
domainatalargerscale.
With several developments in the domain of Algo Trading, along with technological
support, Indian financial market is providing good opportunities for serious and
professional traders and investors. Softwares are available for Algo Trading with
different features and built in strategy templates, which makes the adoption of Algo
Platform much easier. In comparison to global peers, Indian markets are likely to see
continuousgrowthandofferpotentialopportunityinthisdomain.
Vibhore Gupta, President (Strategy)
Findoc Financial Services Group
Algorithmic Trading: Smart Way of Trading in Financial Markets

23 oct 2019

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