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Maa Kalika Research and Investment
About us

Trusted Research. Smarter Investments.

Maa Kalika Research & Investment is committed to delivering reliable, research-driven insights for traders and investors in the Indian financial markets. Our approach combines in-depth market analysis, data-backed research, and disciplined investment strategies to help clients make informed financial decisions with confidence.

We strive to simplify market complexities by providing timely research, actionable recommendations market intelligence tailored to the unique goals of each investor. Whether you are a beginner or an experienced market participant, we empower you with the knowledge and insights needed to build long-term wealth through informed investing.

Our Services
About Maa Kalika Research & Investment
Services

Research Services for Smarter Investment Decisions

Designed for traders and investors seeking actionable market insights, well-researched recommendations, and disciplined investment strategies across multiple market segments.

Equity

Research-driven stock recommendations for informed investing.

  • Daily & Weekly Market Outlook
  • 10-12 Option Buying Per Month
  • 1-3 Future Buying/Selling With Hedge
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Index Options

Precision trading ideas for Nifty & Bank Nifty options.

  • Daily & Weekly Market Outlook
  • 10-12 Option Buying Per Month
  • 1-3 Future Buying/Selling With Hedge
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Stock Futures & Options

Actionable F&O calls with disciplined risk management.

  • Daily & Weekly Market Outlook
  • 10-12 Option Buying Per Month
  • 1-3 Future Buying/Selling With Hedge
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Investor Charter

Vision and Mission Statements for investors
  • Vision
    Invest with knowledge & safety.
  • Mission
    Every investor should be able to invest in right investment products based on theirneeds, manage and monitor them to meet their goals, access reports and enjoyfinancial wellness.
  • To publish research report based on the research activities of the RA
  • To provide an independent unbiased view on securities.
  • To offer unbiased recommendation, disclosing the financial interests inrecommended securities.
  • To provide research recommendation, based on analysis of publicly availableinformation and known observations.
  • To conduct audit annually.
  • To ensure that all advertisements are in adherence to the provisions of the Advertisement Code for Research Analysts.
  • To maintain records of interactions, with all clients including prospective clients(prior to onboarding), where any conversation related to the research services hastaken place.

Onboarding of Clients

  • Sharing Terms And Conditions Of Research Services.
  • Completing KYC of fee paying clients.

Disclosure to Clients

  • To disclose, information that is material for the client to make an informed decision, including details of its business activity, disciplinary history, the terms and conditions of research services, details of associates, risks and conflicts of interest, if any To disclose the extent of use of Artificial Intelligence tools in providing research services.
  • To disclose, while distributing a third party research report, any material conflict of interest of such third party research provider or provide web address that directs a recipient to the relevant disclosures.
  • To disclose any conflict of interest of the activities of providing research services with other activities of the research analyst.
  • To distribute research reports and recommendations to the clients without discrimination.
  • To maintain confidentiality w.r.t publication of the research report until made available in the public domain.
  • To respect data privacy rights of clients and take measures to protect unauthorized use of their confidential information.
  • To disclose the timelines for the services provided by the research analyst to clients and ensure adherence to the said timelines.
  • To provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services.
  • To treat all clients with honesty and integrity.
  • To ensure confidentiality of information shared by clients unless such information is required to be provided in furtherance of discharging legal obligations or a client has provided specific consent to share such information.

Investor can lodge complaint/grievance against Research Analyst in the following ways:

Mode of filing the complaint with research analyst

In case of any grievance / complaint, an investor may approach the concerned Research Analyst who shall strive to redress the grievance immediately, but notlater than 21 days of the receipt of the grievance.

Mode of filing the complaint on SCORES or with Research Analyst Administration and Supervisory Body (RAASB)

  1. SCORES 2.0 (a web based centralized grievance redressal system of SEBI for facilitating effective grievance redressal in time-bound manner) (https://scores.sebi.gov.in) Email to designated email ID of RAASB
    Two level review for complaint/grievance against Research Analyst:
    1. First review done by designated body (RAASB)
    2. Second review done by SEBI
  2. Email to designated email ID of RAASB

2. If the Investor is not satisfied with the resolution provided by the Market Participants, then the Investor has the option to file the complaint/ grievance on SMARTODR platform for its resolution through online conciliation or arbitration.

With regard to physical complaints, investors may send their complaints to:

Office Of Investor Assitance And Education,
Securities And Exchange Board Of India,
SEBI Bhavan, Plot No. C4-A, G Block,
BANDRA-KURLA COMPLEX, BANDRA (E)
Mumbai – 400051

Rights of investors

  • Right to Privacy and Confidentiality Right to Transparent Practices.
  • Right to fair and Equitable Treatment Right to Adequate Information.
  • Right to Initial and Continuing Disclosure.
  • Right to receive information about all the statutory and regulatory disclosures Right to Fair & True Advertisement.
  • Right to Awareness about Service Parameters and Turnaround Times Right to be informed of the timelines for each service.
  • Right to be Heard and Satisfactory Grievance Redressal Right to have timely redressal.
  • Right to Exit from Financial product or service in accordance with the terms and conditions agreed with the research analyst.
  • Right to receive clear guidance and caution notice when dealing in Complex and High-Risk Financial Products and Services.
  • Additional Rights to vulnerable consumers – Right toto get access to services in a suitable manner even if differently abled.
  • Right to provide feedback on the financial products and services used.
  • Right against coercive, unfair, and one-sided clauses in financial agreements.

Do’s

  1. Always deal with SEBI registered Research Analyst.
  2. Ensure that the Research Analyst has a valid registration certificate.
  3. Check for SEBI registration number.
    Please refer to the list of all SEBI registered Research Analyst which is available on SEBI website in the following link –
    https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14
  4. Always pay attention towards disclosures made in the research reports before investing.
  5. Pay your Research Analyst through banking channels only and maintain duly signed receipts mentioning the details of your payments. You may make payment of fees through Centralized Fee Collection Mechanism (CeFCoM) of RAASB if research analyst has opted for the mechanism. (Applicable for fee paying clients only)
  6. Before buying/ selling securities or applying in public offer, check for the research recommendation provided by your Research Analyst.
  7. Ask all relevant questions and clear your doubts with your Research Analyst before acting on recommendation.
  8. Seek clarifications and guidance on research recommendations from your Research Analyst, especially if it involvescomplex and high risk financial products and services.
  9. Always be aware that you have the right to stop availing the service of a Research Analyst as per the terms of service agreed between you and your Research Analyst.
  10. Always be aware that you have the right to provide feedback to your Research Analyst in respect of the services received.
  11. Always be aware that you will not be bound by any clause, prescribed by the research analyst, which is contravening any regulatory provisions.
  12. Inform SEBI about Research Analyst offering assured or guaranteed returns.

Don’t

  1. Do not provide funds for investment to the Research Analyst.
  2. Don’t fall prey to luring advertisements or market rumours.
  3. Do not get attracted to limited period discount or other incentive, gifts, etc. offered by Research Analyst.
  4. Do not share login credential and password of your trading, demat or bank accounts with the Research Analyst.

Terms & Policies

CODE OF CONDUCT FOR RESEARCH ANALYST

Pooja Dwivedi, Proprietor of Maa Kalika Research and Investment, is a SEBI Registered Research Analyst vide Registration Number INH000029281.

In accordance with Regulation 24(2) of the SEBI (Research Analyst) Regulations, 2014, I shall maintain the following Code of Conduct:

  1. Honesty and Good Faith
    I shall act honestly and in good faith.

  2. Diligence
    I shall act with due skill, care and diligence and shall ensure that the research report is prepared after thorough analysis.

  3. Conflict of Interest
    I shall effectively address any conflict of interest which may affect the impartiality of research analysis and research reports and shall make appropriate disclosures to address the same.

  4. Insider Trading or Front Running
    I shall not engage in insider trading or front running of my own research reports.

  5. Confidentiality
    I shall maintain the confidentiality of the research report until it is made public.

  6. Professional Standards
    I shall observe high professional standards while preparing research reports.

  7. Compliance
    I shall comply with all regulatory requirements applicable to the conduct of my business activities.

  8. Responsibility of Senior Management
    I shall bear the primary responsibility of senior management for ensuring the maintenance of appropriate standards of conduct and adherence to proper procedures.

Maa Kalika Research and Investment is a SEBI Registered Research Analyst (Registration No. INH000029281) under the SEBI (Research Analysts) Regulations, 2014

  1. Maa Kalika Research and Investment is a website owned by Pooja Dwivedi.

  2. Maa Kalika Research and Investment provides research-based recommendations on various investment opportunities in the Indian equity and derivative markets for swing to long-term investments in equities and swing calls in derivatives.

  3. We have neither been suspended nor debarred from carrying on business by SEBI or any other regulatory authority, nor has our certificate of registration been cancelled by SEBI at any point in time.

  4. We are not affiliated with any intermediaries for execution or distribution services. Accordingly, we do not receive any consideration for execution or distribution services.

  5. Please refer to the individual recommendation reports for disclosures regarding ownership, material conflicts of interest, and receipt of compensation.

  6. The recommendations should not be construed as an offer to buy or sell, or the solicitation of an offer to buy or sell, any security in any jurisdiction where such an offer or solicitation would be unlawful.

  7. Maa Kalika Research and Investment makes no representation, warranty, or guarantee regarding the accuracy, completeness, or timeliness of the information (including news, prices, statistics, analysis, and similar content) available through its website. Under no circumstances shall Maa Kalika Research and Investment or its affiliates be liable for any decision made or action taken in reliance upon such information. Access to the information on this website is not intended to constitute an offer to sell or the solicitation of an offer to buy any security, nor shall it create any contractual relationship between Maa Kalika Research and Investment and any person accessing or acting upon such information. The contents of this website, including but not limited to its design, text, graphics, and images, are proprietary and may not be copied, reproduced, transmitted, displayed, distributed, modified, or otherwise used, in whole or in part, without prior written permission. While every effort has been made to ensure the accuracy of the information, Maa Kalika Research and Investment, its employees, and its authorized representatives shall not be responsible for any direct, indirect, incidental, or consequential loss, damage, or claim arising from any inaccuracy, omission, or use of the information contained on this website. Despite implementing reasonable security measures, Maa Kalika Research and Investment cannot guarantee that the website is free from hacking or unauthorized interference and disclaims any liability arising from such incidents.

  8. The content and data available on Maa Kalika Research and Investment, including but not limited to research recommendations, advisory services, historical performance, stock ratings, and research rationale, are provided solely for information and illustration purposes. Performance figures are calculated using standard methodologies and do not include transaction charges or other associated costs. Historical return data and related information are sourced from exchange-approved third-party data providers and have not been independently audited or validated by Maa Kalika Research and Investment.

  9. All information and research tools available on Maa Kalika Research and Investment are intended solely to assist investors in their decision-making process and should not be considered investment advice, a recommendation, or a solicitation to invest. Investors are solely responsible for their investment decisions and should independently verify all information before making any investment. Investment decisions should be based on individual financial circumstances, investment objectives, and risk tolerance. Past performance does not guarantee future results. Investments in the securities market are subject to market risks. Investors are advised to carefully read all relevant documents, including research reports and financial statements, before investing. Derivative products involve substantial risk and may not be suitable for all investors.

  10. Maa Kalika Research and Investment does not provide any assurance or guarantee regarding the future performance of any industry, sector, business group, or security. Investors are advised to carefully evaluate all relevant risk factors, including their own financial condition and risk-return profile, before making investment decisions.

  11. The analysts and representatives responsible for issuing research recommendations certify that the views expressed in the research reports accurately reflect their personal opinions regarding the subject companies and their securities. No part of their compensation has been, is, or will be directly or indirectly related to any specific recommendation. No part of this material may be reproduced, copied, or redistributed in any form without the prior written consent of the company.

  12. Accessing, browsing, or reading the information on this website constitutes acceptance of this Disclosure and Disclaimer. All Rights Reserved.

  13. Investments in the Securities Market are subject to market risks. Please read all related documents carefully before investing or making any investment decision.

  14. Registration granted by SEBI and certification from NISM do not guarantee the performance of the intermediary or provide any assurance of returns to investors.

Most Important Terms and Conditions (MITC)

(Forming Part of the Terms and Conditions for Providing Research Services)

  1. These Terms and Conditions and the client’s consent thereto govern the research services provided by Maa Kalika Research and Investment (“Research Analyst” or “RA”). The RA cannot execute or carry out any trade (purchase/sale transaction) on behalf of the client. Clients are therefore advised not to authorize the RA to execute any trades on their behalf.

  2. The fees charged by Maa Kalika Research and Investment shall be subject to the maximum limit prescribed by SEBI and the Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only to Individual and HUF clients).

    Note:

    • The current fee limit is ₹1,51,000 per annum per client family for all research services offered by the RA.

    • The above fee limit excludes applicable statutory charges.

    • The fee limits are not applicable to non-individual clients or accredited investors.

  3. Maa Kalika Research and Investment may charge fees in advance if agreed by the client. Such advance fees shall not exceed the period stipulated by SEBI (currently one quarter). In the event of premature termination of research services by either the client or the RA, the client shall be entitled to a proportionate refund of fees for the unexpired service period only.

  4. Fees may be paid through approved modes such as Cheque, NEFT, RTGS, IMPS, UPI, Net Banking, or any other permitted banking channel. Cash payments are not permitted. Clients may also make payments through the Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (currently the recognized RAASB).

  5. Maa Kalika Research and Investment shall comply with all applicable regulations, circulars, and directions issued by SEBI and RAASB regarding disclosure and mitigation of actual or potential conflicts of interest. Wherever applicable, the RA shall promptly disclose any conflict of interest that may affect the services being provided.

  6. Any assured, guaranteed, fixed-return, profit-sharing, or similar investment scheme is prohibited under applicable law. Maa Kalika Research and Investment does not offer or promote any such scheme.

  7. Maa Kalika Research and Investment does not guarantee any returns, profits, accuracy of forecasts, or risk-free investments through its research services. All opinions, projections, estimates, and recommendations are based on available information and assumptions prevailing as on the date of preparation or publication of the research report.

  8. Investments made based on research reports are subject to market risks. Recommendations do not assure or guarantee returns. Clients shall make investment decisions based on their own independent judgment, financial objectives, and risk appetite. Maa Kalika Research and Investment shall not be liable for any loss incurred based on reliance upon its research reports.

  9. Registration with SEBI, enlistment with RAASB, and NISM Certification do not guarantee the performance of the Research Analyst or assure any returns to investors.

  10. Grievance Redressal

Step 1: Clients should first contact Maa Kalika Research and Investment using the contact details available on the website or as provided in the Grievance Redressal / Escalation Matrix.

Step 2: If the resolution remains unsatisfactory, clients may lodge a complaint through SEBI’s SCORES platform.

Step 3: Clients may also opt for Online Dispute Resolution (ODR) through the SMART ODR Portal.

  1. Clients must ensure that their contact details, including mobile number and email address, remain updated with Maa Kalika Research and Investment at all times.

  2. Maa Kalika Research and Investment will never ask clients for their Trading Account, Demat Account, or Bank Account login credentials, passwords, PINs, or OTPs. Clients should never share such confidential information with anyone, including the Research Analyst.

At Maa Kalika Research and Investment, your privacy is of utmost importance.

We are committed to protecting your personal information and ensuring that it is handled responsibly, securely, and in compliance with applicable laws.

We are committed to protecting your privacy and personal data in accordance with the Information Technology Act, 2000 (“Act”) and the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011, as amended from time to time. We collect, use, store, and process your personal information only to the extent necessary for providing our research services and complying with applicable legal and regulatory requirements.

This Privacy Policy explains how Maa Kalika Research and Investment collects, uses, stores, and protects the personal information provided by users through our website (www.yourwebsite.com) and related services. By using our website or submitting your personal information, you agree to the practices described in this Privacy Policy.

Collection of Personal Information

The Information Technology Act and related Rules regulate the manner in which we collect, receive, possess, store, process, and handle personal information.

We collect only such personal information as is reasonably necessary to provide our services, comply with regulatory requirements, and improve the quality of our services.

Protection of Personal Information

We protect the personal information received from you with the same degree of care that we use to protect our own confidential information, and in no case less than a reasonable standard of care.

Appropriate technical, administrative, and physical safeguards are implemented to prevent unauthorized access, misuse, disclosure, alteration, or destruction of your personal information.

Use of Personal Information

Your personal information may be used for the following purposes:

  • Providing research and related services.

  • Processing your service requests.

  • Maintaining regulatory compliance.

  • Improving our products and services.

  • Sending important service updates, regulatory communications, and information about our offerings.

  • Responding to your queries and customer support requests.

Your information will always be used only for legitimate business purposes and in accordance with applicable laws.

Information Sharing

We do not sell, rent, or trade your personal information.

However, we may share your information with:

  • Regulatory authorities, government agencies, or statutory bodies whenever required under applicable law.

  • Service providers or business partners who assist us in providing services, subject to strict confidentiality obligations.

  • Technology vendors responsible for hosting, security, communication, or payment processing.

All third parties receiving your information are required to maintain strict confidentiality and may use such information only for the intended purpose.

Website Security

We employ industry-standard security measures to protect your information transmitted through our website.

Where applicable, our website uses Secure Socket Layer (SSL) encryption and other security technologies to safeguard information exchanged between you and our servers.

While we continuously strive to protect your information, no method of electronic transmission or internet storage can be guaranteed to be completely secure.

Account Security

If you are provided with login credentials for accessing any secure portion of our website, you are responsible for maintaining their confidentiality.

You should:

  • Keep your password confidential.

  • Change your password periodically.

  • Never share your login credentials with anyone.

  • Always log out after using secure areas of the website, especially when using shared devices.

Third-Party Websites

Our website may contain links to third-party websites for your convenience.

Maa Kalika Research and Investment does not control, endorse, or assume responsibility for the content, privacy practices, accuracy, or security of any third-party website. Accessing such websites is entirely at your own risk.

Updating Your Information

To help us serve you better, please ensure that the personal information you provide remains accurate and up to date.

You may request correction or updating of your personal information by contacting us through the contact details available on our website.

Data Retention

We retain your personal information only for as long as necessary to fulfill the purposes for which it was collected or as required under applicable laws and regulatory requirements.

Changes to this Privacy Policy

This Privacy Policy may be revised from time to time to reflect changes in legal requirements, regulatory guidelines, business practices, or technological developments.

Any revised Privacy Policy shall become effective immediately upon publication on our website unless otherwise stated. Continued use of the website after such publication constitutes your acceptance of the revised Privacy Policy.

We encourage users to review this Privacy Policy periodically to stay informed about how we protect their personal information.

No Refund/Cancellation Policy for Subscriptions

No Refund/Cancellation Policy for Subscriptions.

Sharing of our idea in other Telegram/WhatsApp groups/social media channels is not permitted.

We reserve the right to cancel your subscription if we find out that you are sharing the login details or the stock ideas on any social media platforms.

By registering for our plan, you acknowledge that stock returns are never guaranteed as most of it depends on the stock market behavior.

Regardless of whether you execute the investment, once paid, the registration fee becomes non-refundable.

For any other queries please email us at poojatiwari17032022@gmail.com