Can a SEBI investment adviser give trading calls?
No. SEBI's IA FAQ says intraday, ultra-short duration, non-delivery based and non-personalised calls are not investment advice under the IA regulations, so the registration does not authorise them.
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A registered investment adviser (advisor) cannot give trading calls under that registration. SEBI's IA FAQ treats intraday, ultra-short duration, non-delivery based and non-personalised recommendations as not investment advice under the IA regulations, so they sit outside what the registration covers.
What counts as a trading call
- Intraday recommendations.
- Ultra-short duration recommendations.
- Non-delivery based recommendations.
- Any recommendation that is not personalised to the investor.
Why this is not a risk warning
The FAQ does not rank trading calls as too risky for advisers. It defines advice as personalised to a client, and a call fitting the list above falls outside that definition. Your risk profile, suitability work and fee ceilings never attach to it, because the activity is not the one you are registered for.
If you want to publish calls
A call published to readers generally is read against the Research Analyst definition of research analysis, where technical analysis as a method is not exempt. Registering as a research analyst is a separate application with its own NISM certificate, deposit and trading restrictions. A person can hold both registrations if they comply with both sets of regulations.
We handle the documentation and filing: Investment Adviser registration
Sources read on 28 October 2026. SEBI revises these requirements, so we re-confirm every figure against the current circular before it goes into an application.
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