With 11+ years of active market experience, Nirlep Shah holds a Master of Business Administration (MBA) in Finance from Surat. Operating under SEBI (Research Analyst) Regulations, 2014, he evaluates equities through a dual framework of valuation fundamentals and technical momentum.
Disciplined Equity Research & Objective Market Insights.
Empowering investors and traders with institutional-grade fundamental valuation and technical momentum research. Backed by 11+ years of market experience, an MBA in Finance, and an unwavering commitment to transparency and risk management.
11+Years Market Experience
100%Independent Research
0Investor Complaints
≤ 21dGrievance Turnaround
SEBI Reg. NumberINH000010885
Registration TypeIndividual Research Analyst
Registration ValidityNov 21, 2022 – Perpetual
Registered CitySurat, Gujarat
Compliance OfficerNirlep Shah
Securities investments are subject to market risks. Past performance is not indicative of future returns.
SEBI NOTICE
Mandatory Risk Warning: Investments in securities market are subject to market risks. Read all related documents carefully before investing.SEBI Registration: NIRLEP SHAH | Reg. No: INH000010885 (Research Analyst - Individual).No Guaranteed Returns: Registration granted by SEBI & NISM certification in no way guarantee returns or performance.Investor Grievance: Direct resolution within 21 days (invest.nfs@gmail.com) or lodge via SEBI SCORES (scores.sebi.gov.in) & SMART ODR (smartodr.in).
About The Analyst
Meet Nirlep Shah
Bridging rigorous financial fundamentals with technical precision to deliver actionable, independent equity market research.
NIRLEP SHAH
SEBI Registered Research Analyst (INH000010885)
Surat, Gujarat, IndiaSEBI Reg. No. INH000010885Perpetual Validity (Since 2022)
MBA in FinanceCorporate Valuation Specialization
11+ Years ExperienceCash & Derivative Market Research
Zero Regulatory Actions100% Clean Disciplinary Track Record
1. Capital Preservation & Risk Control
Every recommendation features predetermined stop-loss boundaries, position sizing guidelines, and clear risk parameters.
2. Zero Conflict of Interest
We do not run proprietary trading books against subscribers, manage personal funds, or take distributor kickbacks.
3. Objective Analytical Discipline
Recommendations are issued purely when verified valuation or momentum setups arise, never to fill artificial call quotas.
Regulatory Scope: Registered exclusively as a Research Analyst (RA). An RA publishes independent market analysis for self-directed investor execution and does not manage client portfolios (PMS) or offer personalized investment advice (RIA).
Research Offerings
Specialized Equity Research Services
Strictly compliant, independent research solutions built for self-directed investors seeking structured market intelligence and risk-managed execution.
Long-Term Wealth
Fundamental Equity Research
Rigorous bottom-up fundamental analysis focusing on high-growth companies with robust balance sheets, strong return on equity (ROE), moat defensibility, and reasonable valuations.
- Detailed research reports outlining thesis, catalysts, and valuation metrics.
- Quarterly earnings review, management commentary, and ongoing updates.
- Guidance on partial profit booking and strategic reallocation when targets are met.
High Probability
Technical & Swing Setups
Data-driven technical momentum recommendations designed for short-to-medium term market swings across liquid large and mid-cap Indian equities.
- Pre-defined entry range, explicit Stop-Loss (SL), and Target matrix.
- Favorable risk-to-reward ratios (typically 1:2 or higher).
- Instant dissemination via verified delivery channels (Telegram / WhatsApp).
Capital Protection
Capital Sizing & Risk Discipline
Professional risk mitigation guidelines focused on position sizing, maximum drawdown thresholds, and maintaining emotional composure in volatile markets.
- Recommended capital exposure limits per trade to prevent overleveraging.
- Stop-loss trailing strategies to lock in accrued paper profits.
- Strict adherence to SEBI RA codes of conduct with zero profit-sharing claims.
Mandatory SEBI Client Onboarding & KYC Workflow
Official Inquiry
Submit your inquiry via WhatsApp or Contact Form to confirm available research subscriptions.
Identity & KYC Verification
Provide PAN Card Number & Date of Birth (DOB) as strictly mandated by SEBI prior to subscription activation.
Official Banking Remittance
Payment must be made strictly via bank transfer/UPI into "Nirlep Shah" account. Cash payments are prohibited.
Research Access
Receive access to unbiased research reports and structured setups. Subscriptions are 100% non-refundable.
SEBI Statutory Mandate
Investor Charter in Respect of Research Analyst (RA)
Prescribed under SEBI Circulars to facilitate investor awareness, transparency, rights protection, and statutory dispute resolution.
Vision
Invest with Knowledge & Safety
To promote informed, self-directed, and secure investing in the Indian capital markets through disciplined, objective research and complete regulatory transparency.
Mission
Empowering Objective Decisions
Every investor should be able to evaluate investment opportunities based on transparent research, understand market risks, protect their capital, and access seamless grievance redressal.
Business Activities of Research Analyst
- Publish unbiased, data-backed research reports and market views on securities.
- Maintain an arm's length relationship between research and any other business activities.
- Explicitly disclose financial interests, beneficial ownership, and material conflicts of interest.
- Refrain from insider trading, front-running, or market manipulation in any form.
Rights of Investors
- Right to receive objective, unbiased, and transparent research recommendations.
- Right to inspect statutory disclosures, registration certificates, and compliance details.
- Right to prompt resolution of grievances within 21 calendar days from lodging.
- Right to escalate unaddressed complaints to SEBI SCORES and SMART ODR portals.
Mandatory Do’s & Don’ts for Investors
DO'S (Recommended Actions)
- Verify Registration: Always check the SEBI Registration Number (INH000010885) on SEBI's official website prior to engaging.
- Verify Banking Details: Remit subscription payments strictly via official banking channels into the authorized "Nirlep Shah" account.
- Understand Research Nature: Recognize that equity recommendations are opinions based on research, not guarantees of return.
- Observe Stop-Loss Discipline: Adhere strictly to the defined stop-loss levels and risk-management principles to safeguard capital.
- Lodge Grievances Promptly: Reach out to the Compliance Officer immediately at invest.nfs@gmail.com if you experience any operational issue.
DON'TS (Strictly Avoid)
- Do Not Accept Profit Guarantees: Never entertain any individual promising assured returns, fixed profits, or zero-risk stock tips.
- Do Not Share Credentials: Never share your Demat/Trading login ID, password, OTP, or Delivery Instruction Slips (DIS).
- Do Not Authorize Discretionary Trading: A Research Analyst is strictly prohibited from managing client portfolios or executing trades.
- Do Not Pay Cash: Never make fee payments in cash or into unauthorized third-party personal accounts.
- Do Not Trade on Unsolicited Tips: Avoid social media rumors, unverified SMS tips, or bulk messaging schemes.
SEBI Transparency Disclosure
Investor Complaints Board
In compliance with SEBI Master Circular for Research Analysts, displaying monthly grievance records and historical resolution trends.
Status as of: August 31, 2026
Table A
Data for the Month Ending August 2026
| Sr. No. | Received From | Carried Forward | Received | Resolved | Pending | Pending < 3 Mos | Pending > 3 Mos | Avg Resolution Time (Days) |
|---|---|---|---|---|---|---|---|---|
| 1 | Directly from Investors | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2 | SEBI (SCORES) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | Other Sources | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 4 | Grand Total | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Table B
Monthly Trend (FY 2026–27)
| Sr. No. | Month | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|---|
| 1 | April 2026 | 0 | 0 | 0 | 0 |
| 2 | May 2026 | 0 | 0 | 0 | 0 |
| 3 | June 2026 | 0 | 0 | 0 | 0 |
| 4 | July 2026 | 0 | 0 | 0 | 0 |
| 5 | August 2026 | 0 | 0 | 0 | 0 |
Table C
Annual Trend (Last 4 Financial Years)
| Sr. No. | Financial Year | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|---|
| 1 | 2023-24 | 0 | 0 | 0 | 0 |
| 2 | 2024-25 | 0 | 0 | 0 | 0 |
| 3 | 2025-26 | 0 | 0 | 0 | 0 |
| 4 | 2026-27 (Till Aug 2026) | 0 | 0 | 0 | 0 |
Zero Complaints Maintained: Nirlep Shah has resolved all historical queries without any pending escalations or disciplinary penalties.
Grievance Escalation Matrix
Investor Grievance Redressal Mechanism
A structured, multi-tier escalation framework ensuring every investor inquiry or dispute is resolved swiftly, transparently, and in accordance with statutory guidelines.
Level 1TAT: ≤ 21 Days
Direct Resolution with Research Analyst
Investors must first lodge their complaint directly with the Research Analyst for prompt resolution.
Grievance Officer:Nirlep Shah
Email:invest.nfs@gmail.com
Phone:+91 98259 67185
Hours:Monday – Friday: 09:00 AM – 05:00 PM
Level 2Regulatory Portal
SEBI SCORES 2.0 Portal
If your complaint is not resolved within 21 days or if you are dissatisfied with the response, escalate via SEBI SCORES.
Website:scores.sebi.gov.in
Toll-Free Helpline:1800 22 7575 / 1800 266 7575
Mobile Apps:SEBI SCORES (iOS & Android)
Level 3Online Arbitration
SMART ODR Portal
Securities Market Approach for Resolution Through Online Dispute Resolution portal for mediation, conciliation, and arbitration.
Portal:smartodr.in
Features:Independent Conciliators & Arbitrators
Scope:Disputes arising in the Indian Securities Market
Level 4Physical Jurisdiction
SEBI Regional & Head Offices
For physical representation, investors may write to the designated Western Regional Office or SEBI Head Office.
Western Regional Office (WRO):
SEBI Bhavan, Western Regional Office, Panchvati 1st Lane, Gulbai Tekra Road, Ahmedabad - 380006, Gujarat. Tel: 079-27467018-20
SEBI Head Office:
SEBI Bhavan, Plot No. C4-A, ‘G’ Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051
Knowledge & Clarity
Frequently Asked Questions
Clear, transparent answers concerning our research scope, regulatory status, investor protection, and operational procedures.
A SEBI Registered Research Analyst (RA) publishes objective analysis, valuation reports, and market recommendations on listed securities for self-directed investors. An RA does not provide personalized portfolio construction or comprehensive financial planning based on individual client risk-profiling (which is the exclusive domain of an RIA). All subscribers execute trades independently on their own Demat accounts.
Strictly NO. SEBI regulations prohibit any intermediary from providing assured, guaranteed, or fixed returns. Investments in the securities market are subject to market risks, and capital loss is possible. Nirlep Shah does not operate any profit-sharing, pool-trading, or return-guarantee schemes.
No. A Research Analyst is strictly prohibited from managing client portfolios, holding Demat login credentials, or placing trade orders on client accounts. Clients must execute all trades personally through their own registered stockbrokers.
Under SEBI (Research Analyst) Regulations, client identity verification (KYC) is a statutory requirement before onboarding any subscriber. Research recommendations cannot be disseminated without recording the subscriber's PAN and demographic verification.
We maintain a 100% strictly non-refundable policy. Once payment is processed and research access is granted, subscriptions cannot be cancelled or refunded under any circumstances. Prospective subscribers are urged to review all disclosures, risk factors, and terms prior to subscribing.
Recommendations, fundamental reports, and technical setups are communicated through verified official channels (such as dedicated Telegram channels or WhatsApp broadcasts) during market hours and post-market review sessions.
Every technical recommendation comes with a mandatory predefined Stop-Loss (SL) and Target matrix. We strongly advise that no single position should risk more than 1–2% of total trading capital. Strict adherence to stop-loss levels is essential to prevent significant drawdowns.
You can verify Nirlep Shah's registration status directly on the official SEBI website (sebi.gov.in) under the 'Recognised Intermediaries - Research Analysts' category using Registration Number INH000010885.
Connect With Us
Official Contact & Support
Have questions regarding research subscriptions, SEBI regulatory compliance, or client onboarding? Get in touch with our team.
Registered Office & Channels
Official communication channels of NIRLEP SHAH, SEBI Registered Research Analyst.
Registered Office
506, Luxuria Trade Hub, Nr. V.R. Mall, Dumas Road, Surat - 395007, Gujarat, India
Official Support & Grievance Emailinvest.nfs@gmail.com
Helpline & Support Phone+91 98259 67185
Working Hours
Monday – Friday: 09:00 AM – 05:00 PM (Sat, Sun & Holidays Closed)
Send An Inquiry
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