SEBI policy on public stock analysis
A trader posted analysis on a leading analysis platform and shared his communication:
I contacted <confidential> admin:
Hello Sir,
I hope you're doing well. I wanted to bring something important to your attention regarding SEBI's updated norms.
A few days ago, one of my friends—who is a SEBI-registered Research Analyst—personally warned me that even educational analysis using live market data may now fall under SEBI’s regulatory radar. I didn’t take it too seriously at the time.
However, today, after I posted an analysis on <confidential stock>, I was again approached by another close friend who is a SEBI-registered sub-broker. He also strongly advised me not to continue sharing such analysis, since I'm not SEBI-registered. Both of them mentioned that SEBI is actively monitoring online platforms like <confidential> and that sharing detailed market analysis—even for educational purposes—could lead to penalties or even a trading/market ban.
Now I’m genuinely concerned and confused. My intention is not to provide investment advice—I'm just sharing educational chart analysis, without any fees or paid services. But this recent feedback has created a lot of tension and doubt for me.
he <confidential platform admin > replied:
There are confusions but there is one interpretation of the circular in question (someone else can have another interpretation):
1. Posting on social media without selling anything:
You’re mostly in the clear. As long as you're not selling services, simply sharing content online is generally safe.
2. Selling non-advisory services (e.g., courses):
If you're offering educational products, avoid posting recent market charts. Stick to charts that are at least 3 months old to stay on the safer side.
3. Selling advisory services:
You’re already in the red zone, and this has been the case even before the circular. If your communication to paying subscribers sounds like a recommendation (directly or indirectly), then disclaimers like “for educational purposes” won’t protect you.
You are free to decide which category you fall under and make a decision based on your specific situation.
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