Many investors turn to research platforms to make sense of complex markets. They look for data-driven insights, structured analysis, and guidance that helps them plan trades more carefully. Gamma Research operates within this research-focused ecosystem, offering analytical inputs aimed at helping investors understand market movements.
However, access to research alone does not always guarantee clarity. Investors often rely heavily on how research services communicate, explain risks, and define their role. When expectations are shaped by verbal assurances rather than documented research, confusion and disputes can arise.
This blog reviews Gamma Research, examines a reported investor complaint, and explains what investors can learn about evaluating research services, understanding regulatory boundaries, and responding when concerns surface.
Gamma Research Review
Gamma Research operates as part of Gaama Research Pvt. Ltd., a firm registered with SEBI as a Research Analyst under the registration of Shashikant Nagar (INH000013509). The firm functions within India’s regulated capital markets and provides structured market research for traders and investors.
Gamma Research focuses on investors who prefer medium- to long-term strategies and seek detailed analytical inputs rather than quick trading tips. Within Gaama Research, different research desks are designed to serve varying time horizons:
- Alpha Desk for short-term perspectives
- Beta Desk for intermediate strategies
- Gamma Desk for medium- and long-term research
This segmented structure allows clients to align research with their investment objectives.
The firm follows a methodical and evidence-based research approach, relying on price trends, volume analysis, and risk factors. Importantly, Gamma Research positions itself strictly as a research provider. It states that it:
- Does not execute trades
- Does not manage client funds
- Does not offer profit-sharing arrangements
- Does not provide discretionary trading services
All trading decisions and risk management actions are meant to remain with the client.
Gamma Research maintains a limited digital presence, primarily on Instagram, and does not operate Telegram channels or large public groups. On paper, its structure, registration, and stated limitations align with SEBI’s framework for research analysts.
However, even within regulated setups, investors are advised to evaluate how services are actually delivered in practice.
Gamma Research Complaint: A Case Study
In this case, an investor reports receiving repeated calls from individuals claiming to represent Gamma Research Pvt. Ltd. During these conversations, the investor was allegedly told that the firm would help generate profits and assist in recovering any trading losses.
Based on these assurances, the investor agreed to pay an initial service fee of ₹50,000. After a few early interactions, the investor received one trade that resulted in a small profit. This initial outcome increased confidence in the service and reinforced trust in the advice being provided.
An invoice reflecting a billed amount of ₹51,000, including GST, was issued for the initial payment.
Following this, the investor states that they were repeatedly encouraged to pay additional service fees. Each request was accompanied by assurances that further trades would help recover losses or improve results. Over time, the total service fees paid rose to approximately ₹1,60,000, supported by multiple invoices.
At the same time, the investor was advised to take several trades, including options trades, despite clearly stating that they had little to no experience with options trading. Advice continued even as losses began to accumulate and further manipulation was done in the name of recovery.
As trading activity increased, the majority of subsequent trades resulted in losses rather than gains. Despite this, the investor was repeatedly encouraged to continue trading and add more funds, with the suggestion that doing so would help recover earlier losses.
According to the investor, there were:
- No written stop-loss plans
- No formal risk warnings
- No documented research reports explaining the trade rationale
All communication reportedly took place via WhatsApp, without any official emails, recorded calls, or structured research documentation.
By the end of the engagement, the investor reported an overall trading loss of approximately ₹25,00,000, excluding the service fees already paid.
Violations Done by Gamma Research
Based on the investor’s account, several issues raised regulatory and process-related concerns:
- Assurances suggesting profit recovery or controlled risk
- Encouragement to engage in high-risk options trading despite limited experience
- Absence of stop-loss planning and formal risk disclosures
- Reliance solely on WhatsApp communication without proper recordkeeping
- Trade suggestions without written research reports or documented analysis
Screenshots shared by the investor showed trade instructions, quantities, and loss-related discussions, alongside assurances of recovery—without visible evidence of formal research documentation or compliance records.
What Investors Can Learn From This Case
This case highlights important lessons for investors using research services:
- Verbal assurances are not a substitute for documentation
- Promises of profit or loss recovery should be treated with caution
- Research advice should always be supported by a written analysis
- Risk disclosures and stop-loss planning are essential
- Advice should align with the investor’s experience level
- Unrecorded communication increases risk for investors
Investors benefit most when they independently evaluate risks rather than relying solely on assurances.
What You Can Do in Such Cases?
Gamma Research operates under a SEBI-registered Research Analyst framework and does not function as a trading or portfolio management service. If concerns arise regarding advice, communication practices, or compliance, investors can use SEBI’s official grievance mechanism.
- Lodge a complaint in SCORES with full details and the SEBI registration number
- Attach supporting evidence, including messages, invoices, payment records, and screenshots
- Escalate if required through SEBI’s follow-up process or seek professional legal guidance
Need Help?
Experiences involving financial losses and unmet expectations can be overwhelming. Many investors feel uncertain about what went wrong and how to proceed.
Register with us; we help investors by:
- Organizing evidence and documentation
- Explaining applicable regulations in simple terms
- Filing and tracking SEBI complaints status
- Guiding investors through escalation and arbitration if needed
Our goal is to help investors move forward with clarity and confidence.
Conclusion
Gamma Research functions as a research desk within a SEBI-registered Research Analyst framework. Its structured setup and defined research roles place it within India’s regulated market ecosystem.
However, this case reinforces an important reality: registration and structure alone do not eliminate the need for vigilance. Investors must remain aware of how advice is communicated, whether risks are clearly explained, and if documentation supports recommendations.
Ultimately, informed investing requires asking questions, verifying information, and making decisions independently. Staying alert and informed helps investors navigate research services more responsibly and reduces the risk of avoidable disputes.
