Disclosures & Disclaimers
Mandatory disclosures as per SEBI (Research Analysts) Regulations, 2014.
SEBI Registration Details
Registered Name
Nitish Goyal
Trade Name / Brand
Trading Baniya (Proprietorship)
SEBI Registration No.
INH000025993
BSE Enlistment No.
7109
Registration Type
Research Analyst (Individual)
Registration Date
10 April 2026
Validity
Perpetual (unless surrendered/cancelled)
GST
Not GST-registered.
Registered Address
SCO 17, Opposite Balaji-II, Lohgarh Road, Patiala Road, Zirakpur, Punjab – 140603
Sister Product
EquityMuni (opens in a new tab)
Sister product, operated by the same proprietor (Nitish Goyal).
SEBI / RAASB
Enlisted with BSE Limited (RAASB) — Enlistment No. 7109 | Verify on SEBI Website (opens in a new tab)
Nature of Research Services
Services Provided:
- Equity research reports and analysis
- Market views and research commentary
- Technical and fundamental analysis on securities
- Educational content on market structure and risk management
This Is NOT:
- Personalised investment advice (an RA is not an Investment Adviser)
- Portfolio management services
- Guaranteed or assured returns of any kind
- Solicitation to buy, sell, or hold specific securities
- Execution of trades on behalf of clients
- Handling of client funds or securities
Following free educational content (community, posts, videos) does not create an advisory or client relationship. A client relationship begins only when you formally subscribe to a paid research plan and complete KYC.
Risk Disclosure
Equity markets involve substantial risk. Past performance is not indicative of future results. You can lose some or all of your invested capital.
Derivatives (F&O) carry higher risk and may result in significant losses, potentially exceeding your initial investment.
Any investment made based on recommendations in research reports is subject to market risks. Recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred. Any reliance placed on the research report shall be as per the client's own judgement and assessment of the conclusions contained therein.
Conflict of Interest, Holdings & Trading Restrictions
As per Regulation 16 of the RA Regulations, the Research Analyst and associates shall not deal or trade in any securities that the Research Analyst recommends or follows within 30 days before and 5 days after publication of a research report on the subject company.
The Research Analyst shall not deal or trade directly or indirectly in securities contrary to the given recommendation.
The Research Analyst and/or his relatives may, from time to time, hold positions in securities discussed. Any material financial interest or conflict of interest in the subject company will be disclosed prominently in the respective research report.
Nitish Goyal does not receive any compensation from subject companies in the past twelve months and has maintained independence in research.
Use of Artificial Intelligence · Reg. 24(7) & 19(vii)
Artificial Intelligence tools (including EquityMuni, a sister product operated by the same proprietor) may be used in the process of providing research services — for screening of securities, summarising regulatory filings, scanning earnings-call transcripts, and processing publicly available data. The Research Analyst is solely responsible for the security, confidentiality and integrity of client data, for the use of any data for research services, and for compliance of AI-based outputs with applicable laws. AI tools do not autonomously generate or publish recommendations — every published note is reviewed and signed off by Nitish Goyal. The extent of AI usage will be disclosed to clients at the time of sharing terms and conditions.
Securities Mentioned in Public Content
Securities quoted in any content on this website, social media, YouTube, or the WhatsApp community are for educational illustration only and are not recommendatory unless explicitly stated as part of a research report with full disclosures.
Past performance is not indicative of future results. Per SEBI, past performance / track-record / win-rate claims by RAs require PaRRVA verification — we do not publish such metrics.
Grievance Redressal / Escalation Matrix
Step 1: Contact the Research Analyst
Grievance Officer: Nitish Goyal
Email: support@tradingbaniya.com
Phone: +91 79739 09683
Resolved within 7 business working days of receipt, and in any case not later than 21 calendar days.
Step 2: SEBI SCORES 2.0 Platform
If the resolution is unsatisfactory, lodge a complaint on SEBI's SCORES platform.
Step 3: Online Dispute Resolution (SMART ODR)
Smart ODR portal: https://smartodr.in/login (opens in a new tab)
Step 4: SEBI Office (Physical Complaints)
Office of Investor Assistance and Education,
SEBI Bhavan, Plot No. C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051
SEBI Toll Free Helpline
1800 22 7575 / 1800 266 7575