Disclosures & risk

Registration

Kestrel is not yet registered with SEBI. Nothing on this site is a research recommendation or investment advice.

Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Risk

• Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
• Past results do not indicate future results. No research recommendation is a promise of profit, and every idea can lose money.
• Derivatives (F&O) are leveraged: losses can exceed what you planned, and SEBI's studies found that a large majority of individual F&O traders made net losses.
• Prices in a call are a range at the time of publishing. By the time you act the market may have moved; do not chase an entry outside its range.

Conflicts of interest

• Each idea states whether the analyst or the entity holds the instrument at the time of publishing.
• We do not trade against our published calls, and the research team does not trade in a recommended instrument from the time of the call until it is closed and for the cooling-off period our policy sets.
• We receive no compensation from the companies we cover, and we do not act as broker, market maker or merchant banker for them.

Use of algorithms

Our ideas are produced with the help of a rules-based algorithmic system and reviewed by an analyst before publishing. Each idea says whether an algorithm contributed. Responsibility for the research stays with the registered analyst.

What we do not do

We do not manage money, take custody of funds or securities, ask for broker logins or OTPs, or execute trades for clients.