Dhan Research
✓ SEBI Registered Research Analyst
Registration No: INH000022604
Registration No: INH000022604
⚠️ IMPORTANT RISK DISCLOSURE (SEBI Mandated)
INVESTMENTS IN SECURITIES MARKET ARE SUBJECT TO MARKET RISKS. READ ALL THE RELATED DOCUMENTS CAREFULLY BEFORE INVESTING.
Trading in derivatives, equities, and securities involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources.
- Past performance is NOT indicative of future results. Historical returns, expected returns, and probability projections are provided for informational purposes only.
- No guarantee or warranty is provided regarding the accuracy, completeness, or timeliness of any research or recommendations.
- You may lose some or all of your invested capital. Only invest money you can afford to lose.
- We are registered as Research Analysts and NOT as Investment Advisers. Our services provide research analysis and algorithmic trading tools, not personalized investment advice.
- All investment and trading decisions are solely your responsibility. We do not guarantee profits or protection against losses.
- Dhan Research does not accept any liability for losses or damages arising from the use of our research, algorithms, or trading strategies.
- Registration granted by SEBI does not imply that SEBI has reviewed or certified the accuracy of our research or that we are guaranteed to achieve positive results.
By subscribing to our services, you acknowledge that you have read, understood, and accepted these risks and disclaimers.
Our Algorithmic Trading Service Plans
Starter Lite
₹15,000
/ Monthly
- Fully automated algorithmic trading system
- Index-based trading strategies
- WhatsApp support during market hours
- Remote technical assistance
- Single Strategy
Monthly Maintenance: Waived Off
Core Pro
₹35,000
/ Quarterly
- Fully automated algorithmic trading system
- Index-based trading strategies
- WhatsApp support during market hours
- Remote technical assistance
- 2-3 Strategies
- Save ₹20,000 vs monthly plan
Monthly Maintenance: Including monthly fee, extra ₹1,199 per month applies from the second month onwards. This covers software updates, technical support, system monitoring, and priority issue resolution.
Aplha Elite
75,000
/ Half Yearly
- Fully automated algorithmic trading system
- Index-based trading strategies
- WhatsApp support during market hours
- Remote technical assistance
- 4-5 Strategies
- Customized Strategy As you will give if you have any
- Advanced analytics dashboard
- Save ₹40,000 vs Quarterly plan
Monthly Maintenance: Including monthly fee, extra ₹1,199 per month applies from the second month onwards. This covers software updates, technical support, system monitoring, and priority issue resolution.
Infinity Max
120000
/ Yearly
- Fully automated algorithmic trading system
- Index-based trading strategies
- WhatsApp support during market hours
- Remote technical assistance
- 8-10 Strategies
- Customized Strategy As you will give if you have any
- Advanced analytics dashboard
- Early access to new features
- Save ₹30,000 vs Half yearly plan
Monthly Maintenance: Including monthly fee, extra ₹1,199 per month applies from the second month onwards. This covers software updates, technical support, system monitoring, and priority issue resolution.
Terms, Conditions & SEBI Compliance Requirements
SEBI Registration & Regulatory Framework
Bhupendra Kumar Kushwaha (Dhan Research) is registered with the Securities and Exchange Board of India (SEBI) as a Research Analyst under Registration Number INH000022604 pursuant to the SEBI (Research Analysts) Regulations, 2014 and subsequent amendments.
Our services are governed by:
- SEBI (Research Analysts) Regulations, 2014 (as amended in 2024)
- SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/004 dated January 08, 2025
- SEBI Master Circular for Research Analysts dated June 20, 2025
- All other applicable SEBI regulations and circulars issued from time to time
1. Service Description
Dhan Research provides research services in the form of algorithmic trading strategies for indices. Our services include:
- Access to proprietary algorithmic trading software
- Research reports and analysis (as per SEBI requirements)
- Technical support during market hours
- Remote assistance for system setup and troubleshooting
- Monthly maintenance and software updates (where applicable)
Important: We provide research tools and analysis, not personalized investment advice. All trading decisions are your sole responsibility.
2. Payment Terms
- All prices are in Indian Rupees (INR)
- Payment must be made via bank transfer, UPI, or cheque only (cash payments are prohibited as per SEBI regulations
- Subscription fees must be paid before service activation
- Monthly maintenance charges (where applicable) are billed separately starting from the second month
- Advance fees can be collected for a maximum period of one year as per SEBI Circular dated April 02, 2025
3. REFUND POLICY
3.1 Non-Refundable Items:
- GST amounts paid (as per Indian tax regulations, GST on refunded services must be handled through credit notes)
- Monthly maintenance charges for completed months
- Any special setup or customization fees (if separately charged)
- Bank charges and payment gateway fees
3.2 NO REFUND CONDITIONS:
Refunds will NOT be issued in the following circumstances:
- Trading losses incurred (we do not guarantee profits; see Risk Disclosure)
- Termination due to violation of our Terms of Service
- Termination due to fraudulent activity or misuse of the service
- System downtime due to factors beyond our control (broker issues, internet connectivity, exchange shutdowns)
- If the client has been provided with the service as per the terms agreed upon
4. Risk Disclosure
CRITICAL - YOU MUST READ AND UNDERSTAND THIS SECTION TRADING IN SECURITIES, DERIVATIVES, AND EQUITY MARKETS INVOLVES SUBSTANTIAL RISK AND MAY NOT BE SUITABLE FOR ALL INVESTORS. .
- Risk of Loss: You may lose some or all of your invested capital. Past performance is not indicative of future results.
- Market Volatility: Markets are subject to rapid and unpredictable changes. Algorithmic strategies that performed well historically may fail in current market conditions.
- No Guarantee of Profits: We do not guarantee profits, returns, or protection against losses.
- Technical Risks: System failures, connectivity issues, exchange problems, or broker platform outages may prevent order execution or cause unexpected losses.
- Changes: Changes in SEBI regulations, tax laws, or exchange rules may impact trading strategies and outcomes.
- Responsibility: All trading decisions using our algorithmic system are your sole responsibility. You must monitor your positions and manage risk independently.
- Not Investment Advice: We provide research tools and algorithmic strategies, not personalized investment advice tailored to your specific financial situation.
- Capital Requirements: Ensure you have adequate capital and risk management protocols before using algorithmic trading systems.
- Consult Professionals: We recommend consulting with qualified financial advisors before making investment decisions.
- SEBI DISCLAIMER: Registration granted by SEBI should not be construed as an endorsement by SEBI that the analyst's views are correct or that the services provided will result in profits. SEBI has not validated our research methodology or the accuracy of our analysis.
5. System Availability & Technical Support
- Service Hours: Our algorithmic systems operate during market hours as per exchange timings (9:15 AM - 3:30 PM IST on trading days)
- Support Hours: WhatsApp and email support available Monday-Friday, 9:00 AM - 6:00 PM IST
- Uptime Target: We strive for 99% system uptime during market hours, but cannot guarantee uninterrupted service
- Scheduled Maintenance: We will notify you at least 48 hours in advance of planned maintenance
- Emergency Downtime: In case of critical system issues, we will notify you via WhatsApp/Email as soon as possible
- No Liability for Downtime: We are not liable for losses due to system downtime, internet connectivity issues, exchange problems, or broker platform failures
6. Intellectual Property Rights
- All algorithms, trading strategies, research reports, and software remain the intellectual property of Bhupendra Kumar Kushwaha (Dhan Research)
- Clients receive a non-exclusive, non-transferable, limited license to use our services during the subscription period
- Reverse engineering, copying, distributing, or attempting to extract our algorithms is strictly prohibited and may result in immediate termination and legal action
- You may not share your login credentials or access with any third party
7. SEBI Compliance & Client Obligations
- KYC Compliance: Clients must provide accurate KYC information as required under SEBI regulations
- Record Keeping: As per SEBI requirements, we maintain records of all client communications for a minimum of 5 years
- Disclosure Requirements: Clients must inform us of any conflicts of interest or regulatory restrictions that may affect their use of our services
- Prohibition on Market Manipulation: Clients must not use our services for any activities that violate SEBI regulations, including market manipulation, insider trading, or front-running
Annual Compliance Audit: Bhupendra Kumar Kushwaha (Dhan Research) undergoes annual compliance audits as mandated by SEBI. Audit reports are available on our website.
8. Limitation of Liability
To the maximum extent permitted by law:- Bhupendra Kumar Kushwaha (Dhan Research) shall not be liable for any trading losses, lost profits, or consequential damages arising from your use of our services
- We are not responsible for losses due to market conditions, exchange shutdowns, broker failures, internet outages, or force majeure events
- You acknowledge that algorithmic trading carries inherent risks and that you use our services at your own risk
9. Modifications to Terms & Service
- We reserve the right to modify these terms, fee structures, or services with 30 days' written notice to clients
- Notice will be sent via email to your registered email address
- Continued use of services after the notice period constitutes acceptance of modified terms
- If you do not agree to modifications, you may cancel your subscription as per our refund policy
- Changes mandated by SEBI regulations will be implemented immediately as required by law
10. Termination
We reserve the right to terminate your subscription immediately without refund if:- You violate any SEBI regulations or our Terms of Service
- You engage in fraudulent activity or misuse of the service
- You share your account access with unauthorized third parties
- You attempt to reverse engineer or extract our proprietary algorithms
- Your payment fails or you default on maintenance charges
- We are required to do so by regulatory authorities
11. Governing Law & Jurisdiction
- These terms are governed by the laws of India
- All disputes are subject to the exclusive jurisdiction of courts in Indore, India
- SEBI regulations and circulars shall have overriding effect in case of any conflict with these terms
12. Data Privacy & Confidentiality
- We are committed to protecting your personal and financial information
- Your data will be used only for providing services and complying with SEBI requirements
- We do not share your trading data with third parties except as required by law
- Communication records are maintained as per SEBI record-keeping requirements
13. Contact Information
Bhupendra Kumar Kushwaha (Dhan Research)
SEBI Registration No: INH000022604
Email: support@dhanresearch.com
Phone: +91 7566368459
Website:www.dhanresearch.com
Business Hours: Monday - Friday, 9:00 AM - 6:00 PM IST
Market Support: Trading days, 9:15 AM - 3:30 PM IST
Need Help?
Dhan Research is here to assist you. Call us now for a consultation.
⚠️ Disclaimer:
💼 Past performance does not guarantee future results. Consult your financial advisor before making any decision.
⚖️ By using our services, you agree that you are solely responsible for your own investment choices.
🏛️ Registration granted by SEBI, and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
📊 Investment in securities market are subject to market risks. Read all the related documents carefully before investing.