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Those engaged in the business of stock market astrology, however, do not buy the cautionary words contained in the SEBI circular and believe it would be business as usual for them.
"Investors come to us because our predictions have proven true. Our clients would not come back, if our predictions prove wrong," said an eminent astrologist who claims about many of his past predictions having proven true.
There are hundreds of astrologists advising investors with their stock market predictions in India for a fee and about a dozen of them also have full-fledged websites, detailing their past record and future predictions.
Many of these astrologers and the websites charge an average of about Rs one lakh a year for their generalised predictions, but even the monthly fees run into such levels in case of customised predictions and for high-networth clients.
When contacted, famous stock market astrologist Satish Sharma, who also runs a website AstroStockTips.in, told PTI that he was not aware of SEBI circular, but asserted that the people invest their money in the stock market for future returns and "only astrology can tell about the future."
"It's a science. It's a better technical analysis than many of the so-called technical analysts do. If your luck and stars are not on your side, you cannot get success and stock market is no exception," Sharma said.
"Many hedge funds and FIIs are our clients and invest on the basis of astrology. There are also some designated astro funds across the world," he added.
Eminent astrologer Bejan Daruwalla is also quite active in the stock market-related astrological predictions and a blog on this subject is updated on a daily basis on his website GaneshaSpeaks.
Even on the day of Mahashivratri, when the markets were closed, the blog was updated with "remedial procedure" to be followed on the day for improving the investor's fortunes.
Another famous astrologer Jyotish Acharaya Shailendra Sharma said on his website, AstroToday, that his predictions on stocdk market were to guide people/investors "so that they can have better fiscal management and can be saved from financial disasters."
"It is worthwhile to mention here that the stock markets are the gift of Kaliyuga to mankind as they have evolved only in last one century around the globe and several people have suffered huge losses which has seriously affected their lives," he says.
Sharma further advises the people "not to invest their money in stock markets until unless they have combinations to gain through stocks in their own horoscopes.
"... it is strongly recommended that one must get the birth chart (horoscope) analysed for gain from stock markets before making investments. It has been observed that people not having combinations of gains through stocks in their horoscopes suffer losses even if accurate predictions are given to them as they happen to pick up wrong scrips/stocks," he adds.
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