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The month of April was a good one for the Indian Markets where the Nifty went up by 4% and the Midcap Indices went up by 5.86% . As I had written last month post the US Banking Crisis there was no significant negative and markets were ignoring a lot of positives for the Indian Economy and its growth prospects. Some part of that has got captured this month. Overall things still look encouraging

April as always is the month when the full year results start coming out and that normally creates volatility around sectors and companies that do well and those which do not do well and stocks adjust to the guidance of the managements for the following year. Such volatility is normal and should not bother investors. The only aspect to look at is how the long term direction is and factors supporting the companies are long term or short term and the same for adverse factors. During this period many companies will report very strong results but then the best part might be over for them. On the other hand some will report poor numbers but the worst could be over. Thirdly there will be many (a majority) where the same factors continue into the new year. Its important to recognize these and build that into your current portfolio and future action on the portfolio.

It is important for investors trying to invest themselves to distinguish between static information i.e. reported results and dynamic information i.e. outlook. It’s the outlook that drives stock prices.

It was good that the RBI and MPC took the decision not to increase rates this month. Inflation dynamics are very different in India and in the West. In India inflation is not demand driven but largely supply driven. The Wholesale Price Index is at multiyear lows at just around 1.5% and has more components that Monetary Policy can actually impact.

As I sit to write today many companies from the technology and financial sectors have reported results with some from other sectors. Most Mid Tier companies are still to report results and those will come out over the next 2 weeks for a majority of companies and by May end for all the companies. As I had been expecting the technology sector is seeing the impact of the banking issues and slowdown in the US Economy and uncertainty in decisions making. This could become worse over the next two quarter and then give opportunities to buy. The banking sector is in an extraordinary position today in India and that will be reflected in how stocks perform. Most large banks have reported good results and will continue to do well. Auto companies are yet to report but given the fact that interest rates seem to have peaked we should see them do better over the next year. Reliance results were fine. Some consumer stocks have reported results and the results reflect slowing consumer demand but many have indicated better times ahead and might give opportunities.

Overall the interest rate cycle in India seems to have peaked without interest rates going to extremely restrictive levels. This is good for growth and acceleration of growth over the current year. Concerns are the global headwinds which will impact export oriented sectors. We have seen a decent come back in Government bonds as well as the rupee and this is positive for the equity markets. From the flows perspective retail investors continue to have faith in the equity story and Mutual Funds got big net flows in March. Foreign selling in India has also ebbed and turned positive. I expect foreign funds will turn aggressively positive sometime in the current year and investors who invest prior to that will reap the benefits.

Volatility always remains in the equity markets but overall I remain bullish. The Nifty PE has also come down to around 17X one year forward earnings down from nearly 22X of last year as markets have consolidated and also corrected. Monsoons and its impact will be keenly watched. Earlier there were predictions of a very warm Summer. As I write temperatures in most parts of the country are below or at historical temperatures. So predicting the weather makes no sense. There are significant opportunities to buy into companies at good valuations which are likely to do well over the next 1-2 years.


Overall it was a good month for our products across the board right from long term investing to short term investing to trading. Our trading plans had an exceptional month withs strong profit bookings. Our endeavour will be to continue to do well in the long term.



Target Midcap Portfolio had a good month with a majority of our stocks doing well and a few which had seen a sharp run up consolidating and correcting. The portfolio was up this month as against the Midcap Index which rallied . Our value with growth approach continues to work well. The strong performance helped us to further improve out performance over the Midcap Indices as well as all peer group Mutual Fund and PMS Products. The CAGR since inception continues to be a huge 48% which is a sharp outperformance over the benchmark indices. Last one year returns are 21% Vs flat for the Midcap Index and negative returns from most Midcap Mutual Fund and PMS Products. Our value with growth approach continues to build value for investors. Since inception returns are 229.5% with a CAGR of 48%.


Our low volatility large cap portfolio Target Bluechip had a good month with strong outperformance. We are fully invested as we are not negative on the markets. The portfolio was up 2.4% for the month while the Nifty rallied by 4.14%. We continue to target 5% outperformance over the Nifty every year. The last one year returns are 10.4% Vs slight negative returns of -0.6% for the Nifty. Since inception returns are at over 150% with a CAGR of 25% a huge outperformance over the Nifty. From holding cash in 2022 we went fully invested during the quarter. This is an ideal product for low risk investors looking for steady returns. We have outperformed all Large Cap Mutual Fund schemes since inception.


Our Multicap Platinum Plan which invests in a Mix of Small and Large Caps had a strong month of April driven by good rallies in many of our holdings which led to the portfolio being up by 1.1% during the month while the Nifty declined by 4.1%. As the small cap performance picks up we should see the portfolio perform well. We are very strongly positioned for the rest of 2023 and beyond. The one year returns are at 14% Vs negative for the Nifty and since inception returns are running at 517% with a CAGR of 27% plus. This is an ideal portfolio for Medium to High risk investors where small caps add Alpha while large caps give steady returns. This is our oldest long term product.


Our small cap Winners Plan did well during 2022 given the extreme volatility in the small cap segment. We have 13 recommendations running in the plan at this stage. The average return of open and closed recommendations during 2022 was 14% which is very strong given that the Nifty 100 Smallcap Index was down 14% and the 250 Index was down 4% during the year. Returns for new clients was better as we helped in the timing of entries into open positions. There is strong value in most of the open recommendations and should do well going forward. Many of the recommended stocks rallied during April. Smallcaps will always have volatility but can generate strong returns over the long term. Historically this product has been able to generate several multibaggers and we hope that we can do the same going forward.



The month of April was good for Power Alpha stocks as we could do one strong and one minor profit booking. Overall due to the fact that we avoid speculative stocks we are very well positioned.

Power Alpha Stocks our flagship short term investment plan had an exceptional 2022. After the last two years where we generated nearly 70% return on average capital deployed in each of the years 2020 and 2021 this was a tougher year29 recommendations were closed last year with profit booking in 26, small loss in 2 and relatively bigger loss in one. Assuming a 2 lakh investment per recommendation the profits in 2020 were Rs 420000, in 2021 Rs 400000 and this year Rs 278000. The ROI on average capital deployed of Rs 6 lakhs was over 45% for 2022 which is huge given the context of the markets this year, even on Rs 8 Lakhs the returns are over 35%. This is an ideal product for deploying idle funds to generate ALPHA.

The beauty of this product is that if you keep your capital constant then in general over the last many years the entire capital has become free in 3-4 years.

Assumption Rs 2 Lakhs investment per recommendation



Only For Traders our short term trading product had an excellent month with almost all calls making money and One lot trading profits at Rs 93000 and two lots at 186000. This has taken the year to date 2023 returns to very reasonable levels. We hope to sustain good performance going forward.


Positional Trading calls had a strong April and good performance for this month. During the month one lot profit was Rs 88000 and Rs 176000 for two lots trading. We believe that as things play out the way we think they should we could have some good months going forward. In a trading product we will always have 4-5 good months, 4-5 average months and 2-3 poor months every year. The challenge is to keep the poor months with less losses than the profits of the good months. In the year 2023 our attempt will be to cut down the volatility in performance of both the trading products.

For more details write to us at . You can also call us up at 7303163931/022-66666931 or visit


Minimum capital requirement Rs 2.5 Crores. Fees are based on percentage of Total Assets under advisory with a minimum fee requirement of Rs 720000 plus GST.

Fees for clients with portfolio sizes above Rs 10 Crores will have a fees between 1.25% to 2.5% depending on the requirements of the client and effort required. The fees will not be less than 1.25% of the portfolio size.

HNI Services under the Investment Advisory segment are specifically designed for clients who desire to have a 360 degree coverage of their entire investment basket. Clients can be advised allocations to different asset classes with specific allocations to individual equity strategies in this customized offering vary according to client needs.

Different clients have different needs For clients only focussed on the Long Term the investment portfolio is different and for those who want a combination of strategies it is different. The strategies can be conservative, moderate or aggressive. We have clients with different requirements and all are dealt with separately. Some key aspects are as follows.

services are customized to the needs to the client and some of the key features include asset allocation for those who want and subsequently different strategies in the equity markets as per the equity market allocation

  1. The portfolio and services will be customized to the particular client. The strategies could be

    a. Only Long Term
    b. Only Short Term
    c. A combination of Long Term, Short Term and Trading

  2. The service will be interactive where the client can interact with me directly to clarify doubts if any. This can be in the form of Phone calls/messages etc. HNI clients interact bypass the office to be in touch with me. There is no restriction in the level of interactions in this plan. This is not available in the other packages.

  3. HNI clients can ask for clarifications on any stocks and assets across the investment horizon. This helps in eliminating investment mistakes.

  4. The portfolio is individually monitored and the client only has the responsibility of mailing the portfolio to us every 15 days or trading positions more frequently so that we can go through it and advise on the portfolio on a proactive basis. Or else we can maintain a Google Sheet which can just be updated

    a. Besides this the HNI clients will can also get all the Long Term Calls as well as the standardized MODEL PORTFOLIOs under our Research Analyst services.

    b. These MODEL PORTFOLIO’s have allocations to individual stocks along with regular updates

    c. LONG TERM Investment calls from the small cap universe

  5. Specific long term allocations with percentage allocations will be specifically provided to HNI Clients. For this we continuously scan for opportunities to recommend at the right time.

  6. Swing Trading Ideas. Short Term Cash calls with holding horizon of 30-90 days and return target of 5-15% will also be provided to you. A part of the portfolio can be allocated to these calls depending on my analysis of how your money needs to be exactly managed. This has done exceptionally well for us over the last few months and years.

  7. Trading Calls from the Futures and Options universe whenever conviction is high will be given to you. Here the typical holding horizon is from a few days to couple of weeks In case you are uncomfortable with trading in futures we can remove this service for you. A small fund allocation to trading has worked very well for our HNI clients. However many clients, especially those overseas might find it tough to operate these calls. Moreover these are very time specific. Ideally for your kind of profile you might not want to take these particular calls

  8. All your other financial investments i.e. Mutual Funds, FD’S, PMS Products etc can be reviewed by me and recommendations on the same will be given to you. These will then be monitored for changes as required so that the allocation runs effectively and optimally.

In a nutshell the HNI portfolio and services are where each clients portfolio is tracked by me directly and individually depending on the need of the clients. For conservative clients we might have a different portfolio allocation strategy and for aggressive clients we will strategize it differently. The client can clarify any newsflow they hear from the markets so as to avoid investment mistakes. We focus on risk adjusted returns and try to prevent deep drawdowns.


Those interested in HNI Services or COMBO PLANS can write to us at or

Call us on +91-22-66666931, 7303163931



TARGET BLUECHIP PORTFOLIO - A focussed BLUECHIP STOCKS portfolio that recommends 9 identified large-cap blue chip stocks.

Rs 29000 plus GST

TARGET MIDCAP PORTFOLIO- A focussed MIDCAP STOCKS portfolio that recommends 9 identified High-Quality Midcap Stocks.

Rs 33000 plus GST

PLATINUM PLAN- Model Portfolio based recommendations of potentially high growth stocks. A Multicap portfolio with a mix of Large and Smallcaps.

Rs 34000 + GST

For more details click the MEMBERSHIP TAB

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ONLY FOR TRADERS -Stock Advisory Package which has been designed only for traders in the stock markets. An active plan . 1-2 calls per week with average holding period of 1-10 days

Quarterly Rs 24000+ GST, Semi-Annual Rs 39000+ GST, Annual Rs 55000+ GST

POSITIONAL TRADING CALLS This is a POSITIONAL TRADING product with calls given in the Futures & Options segment. A low involvement product for all stock market participants. 2-3 Calls per month with average holding period of 1-4 weeks

Semi-Annual Rs 36000 + GST, ANNUAL- Rs 54000 + GST

WINNERS PLAN- Annual advisory package which will include 5-10 strong long term return where the return targets will be higher than market returns over Long Term Holding.

Rs 28000 plus GST


POWER ALPHA - Stock Advisory package that is specifically designed to cater to investors who want to take short term exposures into the stock markets but do not want to trade in the Futures & Options market.

Semi Annual Rs 32000+ GST, Annual Rs 47000+ GST

For more details click the MEMBERSHIP TAB on the top of the page
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Sandip Sabharwal: Investment Advisor Registration No INA000000425,  Research Analyst Registration No INH000008109

Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors