Research with Purpose.
Grow with Conviction.
Structured, evidence-driven equity research by CA Nitin Kabra. Bridging short-term market momentum (PULSE) with institutional business fundamentals (CONVICTION).
CA Nitin Kabra
CA Nitin Kabra is a Chartered Accountant and SEBI-registered Research Analyst with a strong foundation in financial analysis, auditing, corporate accounting, and business performance evaluation. Having gained professional experience with Big Four firms, he brings an institutional, forensic, and evidence-driven methodology to evaluating Indian equities.
With a deep passion for financial statements, business durability, and market microstructure, Nitin founded The Research Circle with a clear mandate: to bridge short-term market momentum with long-term business fundamentals, delivering structured research with strict risk discipline.
His philosophy rejects emotional trading, hearsay, and speculative noise. Every research output is anchored by a documented thesis, clear invalidation levels, and disciplined capital protection.
Offerings & Pricing Structure
Transparent, rule-based equity research offerings crafted for serious market participants. Select the horizon that aligns with your capital objectives.
PULSE
Swing & Short-Term Research"Read the Market. Understand the Momentum."
- Technical analysis: price structure, trends & key levels
- Momentum, volume profile & market behavior analysis
- Actionable swing setups with documented rationale
- Explicit risk parameters: entry range, target & stop-loss
- Dynamic research updates as market conditions evolve
- Learning through research: understand the 'why' behind the call
360
Complete Dual-Horizon Access"One Circle. Two Perspectives. A Broader View."
- Full access to all PULSE short-term & swing research
- Full access to all CONVICTION long-term equity reports
- Holistic synthesis of technical momentum & fundamental durability
- Complete institutional research library & continuous updates
- Quarterly earnings & material business revision notes
- Priority Q&A during research webinars
CONVICTION
Long-Term Investment Research"Look Beyond the Price. Understand the Business."
- In-depth business model & competitive moat analysis
- Forensic financial review: cash flows, debt & capital efficiency
- Valuation models, peer comparisons & margin of safety
- Documented long-term investment theses with key risk factors
- Ongoing quarterly performance & earnings tracking
- Downside risk evaluation and structural invalidation triggers
Membership Horizon Comparison
Compare key analytical focus areas, research horizons, and coverage details across memberships.
| Feature / Scope | PULSE | 360 (Complete Access) | CONVICTION |
|---|---|---|---|
| Primary Focus | Short-term market research | Both research approaches | Long-term fundamental research |
| Research Horizon | Swing and short-term | Short-term and long-term | Long-term (1–3+ years) |
| Technical Analysis | Core focus | Included through PULSE | As relevant for entries |
| Financial Statements & Forensic Audit | As relevant | Included through CONVICTION | Core focus |
| Valuation & Peer Analysis | As relevant | Included through CONVICTION | Core focus |
| Published Research Updates | Active swing updates | Both offerings included | Quarterly & material events |
| Best Suited For | Short-term market participants | Comprehensive research seekers | Long-term wealth builders |
Our Guiding Framework
A systematic, audit-driven methodology designed to eliminate emotional bias and preserve investor capital.
"Research with purpose. Learn with curiosity. Grow with conviction. Build together."
"Market success is not about anticipating every tick. It is about understanding what a business earns, how the market values it, and having the mathematical discipline to protect capital when assumptions are tested."
Forensic Fundamentals
Audit RigorWe scrutinize audited financials, operating cash flows, balance sheet health, and corporate governance with Big Four audit discipline before evaluating market trends.
Microstructure & Momentum
OrderflowUnder our PULSE methodology, price action and volume profiles are examined to detect structural shifts, institutional accumulation, and clear momentum inflections.
Pre-Defined Invalidation
Risk ControlEvery published research idea carries clear risk parameters—entry zone, target range, and strict invalidation levels. No emotional holding or speculative averaging down.
Curiosity & Knowledge
EmpowermentWe demystify the logic behind every setup. Our members learn to study balance sheets and charts independently, building lifelong conviction rather than blind reliance.
Investor Charter for Research Analysts
Mandated by SEBI under the Research Analyst Regulations, 2014, detailing the rights, protections, and standard operating procedures for clients of The Research Circle.
SEBI Vision
To protect the interests of investors in securities and to promote the development of, and to regulate the securities market by providing objective, unbiased, and research-backed analysis.
Our Mission
To provide independent, well-researched, unbiased opinions on securities to clients without conflict of interest, ensuring financial integrity, transparent methodology, and regulatory compliance.
Rights of Investors
- Receive factual, documented research reports backed by analytical evaluation and transparent risk parameters.
- Right to full disclosure of the analyst's financial interest, holdings, or conflicts of interest in recommended securities.
- Receive explicit notice regarding price risks, assumptions, margin requirements, and structural invalidation triggers.
- Prompt resolution of grievances via our designated Grievance Officer within 21 working days, with escalation to SEBI SCORES 2.0.
Do's and Don'ts for Investors
- DO verify SEBI Registration Number INH000031028 directly on the official SEBI intermediary registry.
- DO make research subscription payments only through official banking channels with valid tax invoices.
- DON'T deal with unregistered entities, Telegram tipsters, or schemes promising guaranteed or assured returns.
- DON'T share your trading credentials, Demat passwords, or OTPs with anyone, including research analysts.
Investor Complaints & Disclosures
In accordance with SEBI circular SEBI/HO/IMD/IMD-II_DOF10/P/CIR/2021/671, the complaints record for The Research Circle is updated by the 7th of every month. Last updated: October 20, 2026.
A. Current Month Complaints Status
| Sr No. | Received From | Carried Forward | Received | Resolved | Pending | Pending < 3 Mos | Pending > 3 Mos |
|---|---|---|---|---|---|---|---|
| 1 | Directly from Investors | 0 | 0 | 0 | 0 | 0 | 0 |
| 2 | SEBI (SCORES) | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | Other Sources | 0 | 0 | 0 | 0 | 0 | 0 |
| 4 | Total | 0 | 0 | 0 | 0 | 0 | 0 |
B. Annual Trend of Complaints
| Sr No. | Financial Year | Carried Forward | Received During Year | Resolved During Year | Pending at Year End |
|---|---|---|---|---|---|
| 1 | 2024-25 | 0 | 0 | 0 | 0 |
| 2 | 2025-26 | 0 | 0 | 0 | 0 |
| 3 | 2026-27 (YTD) | 0 | 0 | 0 | 0 |
Grievance Redressal Mechanism
Investors are requested to follow the standardized 3-step escalation hierarchy in case of any grievances:
Compliance Officer
Directly email our designated compliance officer with your subscription details. Resolution SLA: within 21 working days.
nitinkabra95@gmail.comSCORES 2.0
If your grievance is not resolved satisfactorily, lodge your complaint directly with SEBI through the centralized SCORES 2.0 portal.
Visit scores.sebi.gov.in →SMART ODR
If resolution remains unsettled, initiate institutional conciliation or arbitration via the Securities Market Approach for Resolution (SMART ODR).
Visit smartodr.in →SEBI Local Office, Ground Floor, Jeevan Nidhi-II, LIC Building, Ambedkar Circle, Bhawani Singh Road, Jaipur - 302005, Rajasthan
SEBI Bhavan, Plot No. C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra