MASTER ADVISORY AGREEMENT (MONTHLY)

    This Agreement is executed on this 1st day September 2026 (“Effective Date”)
    This Master Advisory Agreement (“Agreement”) is entered into between:
    Sharad Mishra, a SEBI-Registered Research Analyst (Registration No: INH000005908), having its registered office at Hubtown Viva, Jogeshwari East, Mumbai - 400063 (hereinafter referred to as the “Research Analyst”, “Advisor”, or “RA”);
    AND
    The subscriber purchasing advisory services under this Agreement (hereinafter referred to as the “Client”).
    The Advisor and Client are collectively referred to as the “Parties”.


2.1 The Advisor provides non-discretionary, research-based derivatives strategy recommendations, primarily relating to index and stock options and structured volatility frameworks.



2.2 The services provided:


  • Are strictly advisory in nature.
  • Do not constitute portfolio management services (PMS).
  • Do not constitute investment management.
  • Do not constitute investment management.
  • Do not create discretionary authority.

2.3 The Advisor shall not:


  • Access the Client’s brokerage account.
  • Execute trades on behalf of the Client.
  • Manage funds or hold custody of capital.

2.4 All execution decisions, order placement, risk management, and position monitoring remain solely the responsibility of the Client.



    3.1 Subscription Validity & Strategy Delivery


    The subscription shall expire on completion of the subscribed period of 1 month.
    There is no commitment, assurance, or guarantee of any minimum number of strategies in a month or year. The Advisor may try to deliver an average of 12 strategies in a month, subject to market conditions, but this shall not be treated as a promise, commitment, or obligation. Advisory will be provided only when suitable risk-reward opportunities are available.


    3.2 Mode of Advisory service


    Advisory shall be provided through the Advisor’s private and exclusive Telegram separate channels naming Private Nifty Option Strategy Desk and Private Stock Option Strategy Desk, operated through corporate number 9820209987. The client shall be provided full access to both telegram channels on T th day, where T is payment date based on confirmation of subscription email. It shall be the client’s responsibility to remain added to the said Telegram channel throughout the applicable advisory period in coordination with corporate number 9820209987 Telegram and WhatsApp channels.


    3.3 Service Commencement & Non-Refund Policy


    The advisory service shall be deemed to have commenced/resumed from the T+1 day of payment confirmation, irrespective of whether the client has joined the Telegram channel or not. Delay or failure by the client to join the Telegram channel shall not extend the subscription period. Fees once paid shall be non-refundable.


    3.4 Definition and Components of a Strategy :


    A “Strategy” is defined as a structured derivatives recommendation that includes:

    • Entry Parameters
    • Stop-loss levels
    • Targets levels
    • Capital allocation guidance

The Client expressly represents and warrants that:


4.1 They qualify as a financially sophisticated participant or High Net Worth Individual.



4.2 They possess adequate knowledge of:


  • Derivatives markets
  • Options pricing
  • Volatility structures
  • Gap risk
  • Stop-loss limitations

4.3 They understand that derivatives trading can result in:


  • Substantial capital loss
  • Rapid premium erosion
  • Execution slippage
  • Gap losses beyond stop levels

4.4 They are independently responsible for assessing suitability.


    Nifty Monthly Expiry – Dual Directional Premium Deployment

    (Illustrative Capital Deployment: ₹10 Lakhs)

    Strategy Construct :

    Simultaneous premium deployment in:

    • Long 25300 CE (Monthly Expiry)
    • Long 25000 PE (Monthly Expiry)

    This framework reflects a volatility-expansion participation model deployed when:


    • Nifty is positioned near a short-term inflection zone.
    • Breakout probability exceeds implied move pricing.
    • Implied volatility does not fully reflect expansion risk.

    This is not a passive neutral straddle.

    It is a calibrated dual directional participation model with defined stop-loss discipline.

    Capital Deployment (Illustrative Only)

    Total Capital Deployed: ~₹10.88 Lakhs

    Staggered allocation in two tranches per leg.

    Call Leg – 25300 CE

    • Average Cost: ₹195
    • Target: ₹333
    • Stop Loss: ₹141
    • Capital Allocated: ~₹5.26 Lakhs

    Put Leg – 25000 PE

    • Average Cost: ₹77
    • Target: ₹109
    • Stop Loss: ₹35
    • Capital Allocated: ~₹5.62 Lakhs

    Scenario Outcomes (Illustrative)


    Upside Breakout
    • CE hits target
    • PE hits stop loss
    • Projected gain: ~₹66,273 (~6.1%)

    Downside Breakout
    • PE hits target
    • CE hits stop loss
    • Projected gain: ~₹87,592 (~8.1%)

    These are hypothetical illustrations only.Actual results may materially differ.


    Risk Considerations
    • Time decay in range-bound markets
    • Whipsaw volatility
    • Liquidity contraction
    • Bid-ask spread expansion
    • Execution slippage

    Maximum risk per leg is limited to premium paid. This is a short-duration convex exposure framework, not an income strategy.

    The attached table represents a long straddle–type stock option strategy implemented on Dalmia Bharat, dated 20 Jan 2026, using monthly expiry options (27 Jan 2026).
    The strategy involves:

    • Buying a Call Option (CE)
    • Buying a Put Option (PE)

    on the same stock and same expiry, but at different strikes, to benefit from a strong directional move in either direction.


    This is a volatility-driven strategy, suitable when a sharp price movement is expected.


    Structure of the Strategy



    1.️ Call Option Leg (Upside Exposure)


    • Instrument: Dalmia Bharat 2280 CE (27 Jan 2026)
    • CMP (Option Premium): ₹16
    • Buy Price: ₹16
    • Lot Size: 325
    • Capital Deployed: ₹5,200
    • Stop Loss: ₹9
    • Target Price: ₹53

    Intent:

    This leg benefits if the stock moves sharply upward, leading to rapid expansion in call option premium.


    2.️ Put Option Leg (Downside Exposure)


    • Instrument: Dalmia Bharat 2160 PE (27 Jan 2026)
    • CMP (Option Premium): ₹30
    • Buy Price: ₹30
    • Lot Size: 325
    • Capital Deployed: ₹9,750
    • Stop Loss: ₹17
    • Target Price: ₹53

    Intent:

    This leg benefits if the stock falls sharply, increasing the value of the put option.


    Total Capital & Exposure
    • Total Capital Deployed ₹ 14,950
    • Strategy Type: Long volatlity/ Directional breakout
    • Maximum Risk: Limited to premium paid (subject to stop-loss discipline)

    How Profit Is Expected

    Scenario 1: Strong Upward Move
    • Call option hits target
    • Put option hits stop-loss
    • Net profit estimated: ~₹7,800
    • Return on deployed capital: ~52.2%

    Scenario 2: Strong Downward Move
    • Put option hits target
    • Call option hits stop-loss
    • Net profit estimated: ~₹5,200
    • Return on deployed capital: ~34.8%

    This asymmetric payoff is typical of option buying strategies, where one leg compensates for the loss in the other.


    Why This Strategy Is Used

    This strategy is deployed when high volatility or a sharp price move is anticipated, but direction is uncertain


    Suitable around:
    • Corporate events
    • Earnings
    • Breakout from consolidation
    • Sector-specific triggers

    The trader is long volatility, not betting on direction but on magnitude of move.


    6.1 The Advisor may advise one or more strategies at any given point of time, and active strategies may be more than one.



    6.2 Strategy selection and timing shall depend on market conditions, risk-reward opportunity, liquidity, and execution feasibility.



    6.3 There may be no strategy advised on any given day or during any particular period if suitable opportunities are not available.



    6.4 This policy is followed to ensure fair access for clients and adequate liquidity in the recommended security/contract, so that clients may reasonably execute the advised trades.



    7.1 Fees must be paid in advance.



    7.2 All fees are:


    • Final
    • Non-refundable
    • Non-transferable
    • Non-adjustable

    7.3 No refund shall arise from:


    • Trading losses
    • Stop-loss triggers
    • Client Execution
    • Force majeure Events
    • Market volatility

    Payment constitutes full acceptance of this Agreement.

    The Client is expressly advised to:

    • Read this Agreement in Hindi or their preferred regional language, and
    • Fully understand all clauses and risk disclosures prior to making payment.

    Subscription payment shall constitute deemed confirmation of comprehension.


    9.1 No guarantee of profitability or capital protection is provided.



    9.2 The Advisor does not guarantee:


    • Target achievement
    • Stop-loss execution accuracy
    • Timely exit availability
    • Profitability

    9.3 The Advisor’s aggregate liability, if any, shall not exceed the advisory fee paid for the specific strategy giving rise to dispute.



    9.4 Under no circumstances shall the Advisor be liable for:


    • Indirect loss
    • Consequential damages
    • Opportunity loss
    • Emotional distress
    • Tax implications
    • Broker-level actions

    The Advisor shall not be liable for disruptions caused by:

    • Exchange trading halts
    • Technical failures
    • Matching engine disruptions
    • Margin changes
    • Lot size revisions
    • Regulatory circulars
    • Internet outages
    • Power failures
    • Natural disasters
    • War or systemic financial instability

    The Client acknowledges exposure to:

    • Gap risk
    • Circuit filters
    • Liquidity contraction
    • Margin changes
    • Volatility spikes
    • Abnormal spreads

    Force majeure events shall not entitle refund, extension, or compensation.

    This relationship is strictly non-fiduciary and advisory in nature.
    The Client retains complete discretion and responsibility.

    The Client agrees to indemnify and hold harmless the Advisor against:

    • Claims arising from trading losses
    • Broker disputes
    • Regulatory inquiries caused by Client conduct
    • Tax or compliance disputes

    13.1 Dispute Resolution, SCORES & ODR.


    • Any grievance shall first be raised by the Client with the Advisor through the designated grievance redressal process.
    • If unresolved, the Client may approach SEBI SCORES and/or the SEBI-recognised ODR mechanism, as applicable.
    • Any remaining dispute may be resolved through conciliation/arbitration under the applicable SEBI ODR/arbitration process.
    • The seat and venue of arbitration shall be Mumbai, India, unless otherwise required by applicable SEBI/ODR rules.
    • The arbitration/ODR award shall be final and binding on both Parties, subject to remedies available under applicable law.
    • Nothing in this clause shall restrict the statutory rights of either Party under SEBI regulations or applicable law.

    13.2 Client Conduct & Reputational Protection


    • The client shall maintain professional conduct with the Advisor, its employees, office premises, and communication channels.
    • The client shall not create nuisance, threat, disruption, reputational harm, or post defamatory / misleading / irresponsible comments on social media, Google profile, public forums, or any other platform.
    • Any grievance shall be resolved only through the prescribed grievance redressal process, SEBI SCORES/ODR, arbitration, or applicable legal mechanism.
    • Any breach of this clause may result in suspension or termination of services, and the Advisor may seek appropriate remedies, including monetary compensation/damages, through applicable legal, SEBI ODR, or arbitration process.

    This Agreement shall be governed by the laws of India.
    Subject to the arbitration clause, courts at Mumbai shall have exclusive jurisdiction for enforcement purposes.

    This Agreement supersedes all prior communications, representations, or understandings.
    No oral statements shall modify these terms.

    By subscribing and making payment, the Client confirms that:

    • They have read and understood this Agreement.
    • They have reviewed the Agreement in Hindi or their preferred regional language, if required.
    • They understand the risks associated with derivatives trading.
    • They have voluntarily accepted all the terms and conditions of this Agreement.
    • They have availed themselves of the trial services for a period of one month on YouTube and have experienced and observed the performance of the LIVE trade setups before subscribing to the paid advisory services.
    • They have been provided with all necessary support and clarifications through telephonic discussions and WhatsApp communication to understand the nature, scope, process, risks, limitations, and terms of the advisory services.
    • They had sufficient opportunity to ask questions and obtain clarifications before subscribing and making payment.
    • They waive claims arising from standard market risks.

₹ 11,999

Including GST

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