Got this SMS 2 asking to buy Narayani, stock is in lower circuit. Why is Zerodha suggesting to buy a stock that’s hitting lower circuit? @siva
Zerodha doesn’t give any stock tips. This is updated on the homepage of our website:
This looks like the work of an operator trying to fleece retail clients of their money by asking to buy this stock.
On a recent blog post, we’ve also explained the modus operandi of such tipsters.
Please don’t fall prey to such acts and let everyone you know who trades the markets of the same.
Received same message from same number
Never trade on SMS and tips and even if you want to don’t unless you have scrutinized them first. Today got a call from a lady regarding stock recommendation, had a long chat… anyway coming to the point she said the company provided intraday tips… Ok… then I asked if the company traded with it’s own money and how much money did it deploy? … She had no idea but after some pestering she said they deploy 50k, I asked why such small amount when normal intrday traders use leverage and use so much more… she had no answer but she said people could also trade with 10K… to which I asked and how much can people earn with just 10k after the charges and all that… well finally she put down the down.
So whenever you get a call never ask how much profit they can help you make because if they could they would be trading with their own money. Even if 20 employees pooled a few lakhs each such good investment company could trade with over a crore of capital and not give their secret to others. Please ask the right question, most callers are just for the baiting purpose and would just provide assurance of rosy profits and targets, rather than answers.