Must Read: Equity Pandit Review - Based on Personal Experience [Part-1]

If you are going to subscribe Equity Pandit services to get trading calls, then wait, read my review which is completely based on my own personal experience. Please read the complete article patiently, this will really trigger your neurons to re-think before going with Equity Pandit.

Hello everyone, my name is Ankit and I started my journey in share market in the mid of year 2017. I analyzed charts, candles, support levels, resistance levels, pivot points etc and started intra-day trading. Initially, I used to get small profits like Rs. 200-1000 on daily basis but as the time spent, this profits get converted into loss which was not small but huge like Rs. 1500-4000 - that too on daily basis.

I again put some time to analyze the charts and discovered a trick which I named "Risk Free Formula". In this trick, I used to start with 100 quantity buy of INDIACEM stock, if it went up by 1 Rs., I used to take exit of it but if it went down by 1 Rs., I used to buy double (200) quantity. Now if it went up by 1 Rs. again I used to take exit all of the quantities. Similarly, if it still went down, I used to buy double (400) quantity and then if it come up by 1 Rs., I used to take exit of all the quantities. By using this trick, I earned profit continuously for about 21 days, then took a loss of 15000 in a single day !!! So, I hardly earned 10000 in 21 days but lost 15000 on 22nd day !! I was really disappointed from share market and trading, but then one of my friends suggested, "If you had to lost 15000, why didn't you subscribe to some online service - at least they will provide you better calls and you don't have to suffer this much loss".

I thought about it, and I was convinced with this idea. So I searched google and found Equity Pandit somewhere in the results. Here my journey began with Equity Pandit.

I fill up their form which is available on their website. One of their agent named Vinayak called me next day. He has very good communication and convincing skills. I asked him to have one trial which was mentioned on the website but he said "Trial chahye to mai aapka no. register krwa deta hu but usme koi bharos nhi h aapko call aaye na aaye". [If you need a trial, I can make your no. registered to get it but not sure whether you'll get the call or not] Dear Equity Pandit, why there is even mentioned on the website that we can get the trial if we are supposed to get such replies when we ask for it? Anyway, he said that with Equity Pandit, I can easily earn around 2000-3000 Rs. per day using EP Basic service in which they provide intra-day calls. So around 54000-60000 Rs. per month. How catchy it sounds to hear, right?

It was last week of Jan 2018. This guy - Vinayak asked me to register quickly the same day as some offers was going on of getting 6 months of intra-day calls for Rs. 15000. I said I don't have this much money ready to pay them, he said don't worry, just pay 7000 so that he can set up my account in the offer period and rest amount can be paid later. I paid 7000 Rs. and he said, calls will start by tomorrow.

I didn't get any call tomorrow, he says, there is some delay so calls will start the next day. I started receiving messages the next day.

I choose to just observe the calls 2-3 days and work from the first week of February. When the first day of Feb came, Vinayak called me asking for the remaining amount of money 8000 Rs. I said, it's just 2-3 days passed, he said that I need to pay otherwise service might get stopped and blah blah and with Equity Pandit, I don't need to worry. Trusting him, I paid them another 8000 Rs. - my hard earned money. Then I started working on their call.

The way, their call is provided, anyone like me can not work on them actually. You need to be ready to put the order as soon as you receive the message otherwise it'll be a miss for you. One example of their call:

First Message:

EquityPandit::BUY JUBILANT FOOD IN NSE CASH ONLY ABOVE 1995 (CMP:1984.40) TARGET: 1997,2004,2021 STOPLOSS 1984.70   www.equitypandit.com

8000816688

Second Message:

EquityPandit::JUBILANT FOOD TARGET1 1997 ACHIEVED BOOK PARTIAL PROFITS AND REVISE YOUR STOPLOSS BELOW COST PRICE  www.equitypandit.com

8000816688

Third Message:

EquityPandit::JUBILANT FOOD CALL CLOSED TARGET1 PROFITS ALREADY BOOKED.  www.equitypandit.com

8000816688

As you can see, TARGET1 is of Rs. 2 only on a stock of Rs. 1995!! [Dear Equity Pandit, Rs. 2 profit will go in brokerage charge on such huge amount stock or brokerage charge doesn't exist in your calculations?? Also, Rs. 2 jump/drop is a normal vibration for such huge amount stock.] Now, "How about TARGET2 or TARGET3?" then the answer is: it's too rare for a stock to achieve their TARGET2 or TARGET3 they provide and even chances are that you'll hit Stop Loss, just look at the Stop Loss they provided, you have to suffer a lots of loss if you hit Stop Loss.

Also, if you aren't quick, you'll miss the call. Most of the times, the time you get the message, you read it and you go to put your order, what you see is the stock is already on TARGET1. Now, what will you do when you know there are very small chances of hitting TARGET2? You still might believe that it'll hit TARGET2 and put your order when it's already on TARGET1 but, in most of the times, it'll hit the Stop Loss or you will receive the message that call closed profit already booked on TARGET1 - that's what happened with me. Most of the times I see, stock is already on TARGET1, however, I put the order hoping it'll hit TARGET2 but then I get the message that call is closed and profit already booked on TARGET1, Now I have two choice - I can exit or wait for Stop loss. If I exit, it's clear that I am exiting at loss and if I wait for Stop Loss hoping it might hit TARGET2 - then it just hit the Stop Loss and then huge loss to me!! Hence, I tried on intra-day calls but I ended up booking the loss many days. Sometimes, their call also hit TARGET3 but, as I said "it's too rare", so highly chances are "ending up in a loss".

I shared this to my agent - Vinayak. Every time he used to say me "Ankit ji apna investment km hai, aap investment bda lijiye." I was working on 2 Lakh Rs. including margin I get from my broker and was booking loss everyday. [Dear Equity Pandit, is 2 lakh Rs. less amount to trade in intra-day, really? and, don't you think if I invest more, I'll book more loss??] But then, he asked me to upgrade the service to "Index Option". He said that in option calls, investment required is less and profit is huge.

He scheduled a telephonic meeting with his senior named Rohit. Mr Rohit impressed me mentioning that they provide 2-3 calls in a month for index option which provides huge profit. The complete package of Index Option service is for 45000 Rs. He said I can upgrade my existing plan to Index Option Plan. I just need to pay a settlement amount of 10000 only and rest amount can be paid later. I thought, it's first week of Feb, I should go for Index Option service and I can earn enough to decide whether I should pay the rest amount or not. I paid another 10000 Rs. to them to get Index Option calls.

I got calls everyday from Vinayak and he continued to say, the call will come tomorrow. I didn't get any index option call until 27th of Feb - yes, it's true !! On 28th of Feb I got a call from Vinayak asking for the rest of money - Rs. 20000. Are you serious ? [Dear Equity Pandit, that's what you do? asking for the money every-time?] But I said why should I pay, I didn't even get any call but he mentioned market is unpredictable and blah blah and calls will come and so on. [So what? Dear Equity Pandit, you have experts there right? what are they doing if they are unable to provide a single call in a complete month??] Then some lady from their account department called me mentioning the situation that if I don't pay, there is some serious trouble. She mentioned if I don't pay I need to pay the GST of 18% the next time I pay the remaining amount. She said that if I pay 10000, she can somehow manage the situation. She asked me to trust her and pay for the money. I got convinced and paid another 10000 Rs. to them in a hope. I said I'll pay the remaining 10000 in the end of next month. She said to me that my agent will provide me calls telephonically. I called Vinayak to doulbe check and he said yes he'll provide the Index Option calls telephonically to me.

The next day, I got a call from the same lady from account department again requesting to pay the rest of money [What the hell guys? Could you please work to provide better services to your customers rather than asking for the money everytime?] I said "NO Ma'am", I'll pay the next month only. I have already cleared it yesterday. She said okay, you can pay the next month. I texted her that I didn't get any call in the entire month of Feb. She texted me back advising to buy 3 lot of this CALL and but 3 lot of this PUT. [What the hell again? I texted you and you provided me call, what if I hadn't texted you?] I then put my order instantly but I put my order only for 2-2 lots. It was Wednesday and the next day was expiry, nothing worked, I lost my 2600 Rs. [Thankfully I didn't put my order for 3-3 lots otherwise it would have been a big loss to me].

Since then, till date (11-Mar-2018) I didn't get any Index Option Call. My executive Vinayak texts me and calls me everyday saying the call will come "TOMORROW". I am still waiting for this "TOMORROW" to come. My hard earned money of Rs. 35000 has already gone out of my pocket and in-return I have got only "loss". If I wouldn't have trusted them, I could have saved my 35000 Rs.

Let's see what happens next, will keep this article updated...

[Update: Please read my next post(s) for further updates.]